Interface Inc (TILE)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 18.56 | 15.71 | 12.86 | 19.67 | 16.10 | |
| Number of days of payables | days | 19.67 | 23.23 | 28.39 | 18.56 | 22.66 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 18.56
= 19.67
Interface Inc.'s number of days of payables has shown a declining trend over the past five years, indicating an improvement in its ability to manage its accounts payables efficiently. As of December 31, 2023, the company takes approximately 27.99 days to pay its trade payables, reflecting a decrease compared to 33.21 days in the previous year. This suggests that the company has been more efficient in managing its payables and is taking less time to settle its outstanding obligations.
Comparing the current number of days of payables to the figures from two years ago reveals a significant improvement, as the company has reduced the payment period from 40.85 days on January 2, 2022, to 27.99 days on December 31, 2023. This indicates a more streamlined and effective approach to managing its accounts payable, potentially benefiting the company's cash flow and relationships with suppliers.
Furthermore, when compared to the data from January 3, 2021, and December 29, 2019, where the company took 30.92 days and 33.79 days to pay its payables, respectively, the decreasing trend is evident. This consistent improvement over the years suggests that Interface Inc. has been actively working to optimize its payables management processes, resulting in more efficient financial operations.
Peer comparison
Dec 31, 2023