Stryker Corporation (SYK)

Number of days of payables

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Payables turnover		4.90	5.63	5.46	5.19	4.86	5.41	5.50	5.75	5.44	6.46	6.70	7.15	6.54	8.00	8.12	7.08	7.69	7.74	8.00	7.74
Number of days of payables	days	74.42	64.85	66.85	70.30	75.06	67.48	66.34	63.44	67.11	56.55	54.49	51.08	55.85	45.62	44.94	51.54	47.49	47.16	45.61	47.15

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 4.90
= 74.42

The number of days of payables for Stryker Corp. has shown some variability over the past eight quarters. In Q4 2023, the number of days of payables was 74.42 days, which increased compared to the previous quarter where it was 64.85 days. This suggests that the company took longer to pay its suppliers in the most recent quarter.

Looking at the trend over the past two years, there seems to be some fluctuation in the number of days of payables each quarter. However, there is no clear linear pattern observed. The number of days of payables ranged from a low of 63.44 days in Q1 2022 to a high of 75.06 days in Q4 2022. This indicates that the company's payment cycle to its suppliers has varied throughout this period.

In assessing the efficiency of payables management, it's essential to consider the industry norms and the company's specific operational requirements. A higher number of days of payables may reflect a more lenient payment policy, potentially benefiting cash flow in the short term. Conversely, a lower number of days of payables may indicate a tighter payment policy that could strain supplier relationships but improve liquidity.

Further analysis and comparison with industry benchmarks would provide a more comprehensive understanding of Stryker Corp.'s payables management and its implications for the company's operations and financial performance.