Sensient Technologies Corporation (SXT)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 9.97 | 8.73 | 2.40 | 2.67 | 3.13 | |
| Number of days of payables | days | 36.62 | 41.83 | 152.37 | 136.71 | 116.46 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 9.97
= 36.62
The number of days of payables for Sensient Technologies Corp. has shown a fluctuating trend over the past five years. In 2023, the company took approximately 48.04 days to pay its creditors, which is a decrease from 54.82 days in 2022. This suggests that Sensient Technologies Corp. managed to improve its payment efficiency by reducing the number of days it takes to settle its payables.
Comparing to previous years, the number of days of payables in 2023 was lower than in 2021 and 2020 but higher than in 2019. This indicates that the company has been making progress in managing its payables more effectively, but there may still be room for further improvement.
Overall, a lower number of days of payables means that the company is taking less time to pay its suppliers, which can have implications for cash flow management and supplier relationships. It is important to continue monitoring this ratio to ensure that Sensient Technologies Corp. maintains a healthy balance between managing payables efficiently and maintaining strong supplier partnerships.
Peer comparison
Dec 31, 2023