Tootsie Roll Industries Inc (TR)
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 | 42.21 | 29.12 | 28.64 | 27.91 | 22.82 | 18.28 | 24.91 | 24.48 | 33.65 | 19.31 | 22.20 | 29.61 | 31.69 | 26.22 | 30.71 | 23.97 | 28.72 | 19.62 | 24.84 | 26.43 | |
| Number of days of payables | days | 8.65 | 12.53 | 12.74 | 13.08 | 15.99 | 19.97 | 14.65 | 14.91 | 10.85 | 18.90 | 16.44 | 12.33 | 11.52 | 13.92 | 11.89 | 15.23 | 12.71 | 18.60 | 14.69 | 13.81 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 42.21
= 8.65
Tootsie Roll Industries, Inc. has shown a decreasing trend in the number of days of payables over the past four quarters. In Q4 2023, the company had 11.26 days of payables, which indicates that, on average, it takes approximately 11 days for Tootsie Roll to pay its suppliers. This is a significant improvement compared to the previous quarters, which ranged from 16.30 to 20.29 days.
The decreasing trend in the number of days of payables suggests that Tootsie Roll has been more efficient in managing its accounts payable and is paying its suppliers more promptly. This could potentially strengthen the company's relationships with its suppliers and improve its working capital management.
Overall, the declining number of days of payables for Tootsie Roll Industries, Inc. indicates a positive trend in the company's payment practices and financial health.
Peer comparison
Dec 31, 2023