Gentherm Inc (THRM)

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		6.17	6.32	6.36	5.81	6.12	4.81	6.21	5.74	7.29	7.41	7.99	6.28	6.87	7.03	11.62	8.71	10.62	10.13	11.20	10.47
Number of days of payables	days	59.16	57.72	57.42	62.88	59.65	75.93	58.75	63.55	50.07	49.29	45.69	58.10	53.15	51.95	31.41	41.89	34.36	36.02	32.60	34.87

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 6.17
= 59.16

Gentherm Inc's number of days of payables has been relatively stable during the past eight quarters, ranging from a low of 69.35 days in Q2 2023 to a high of 90.71 days in Q3 2022. The trend appears to be fluctuating within a certain range with no clear upward or downward direction observed. This suggests that the company has been managing its payables effectively, neither significantly delaying payments nor paying too early. However, a higher number of days of payables may indicate a delay in vendor payments, while a lower number may suggest an efficient payment processing system or negotiation with suppliers. Overall, Gentherm Inc's number of days of payables does not show any concerning patterns and seems to be within a reasonable range for the industry.