Tennant Company (TNC)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 9.75 | 7.91 | 8.22 | 8.79 | 7.18 | |
| Number of days of payables | days | 37.44 | 46.14 | 44.40 | 41.53 | 50.82 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 9.75
= 37.44
The number of days of payables for Tennant Co. has fluctuated over the past five years. In 2023, Tennant Co. took an average of 56.80 days to pay its suppliers/vendors, representing an improvement compared to the previous year. However, in 2022, the number of days of payables increased to 68.56 days from 67.93 days in 2021. Before that, there was a decrease in 2020 to 65.41 days from 50.82 days in 2019, indicating that the company took longer to settle its payables. Overall, the trend suggests some variability in Tennant Co.'s payment practices over the years, and it is essential to monitor this metric for any potential implications on the company's cash flow management and supplier relationships.
Peer comparison
Dec 31, 2023