Trimble Inc (TRMB)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 8.87 | 8.95 | 7.84 | 9.76 | 9.36 | |
| Number of days of payables | days | 41.16 | 40.78 | 46.57 | 37.41 | 39.01 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 8.87
= 41.16
The number of days of payables for Trimble Inc has shown some fluctuation over the past five years. In 2023, the company took, on average, approximately 41.16 days to pay its accounts payable. This is slightly higher than the previous year, where the number of days of payables was 40.78 days in 2022. In 2021, the number of days of payables increased significantly to 46.57 days compared to the previous two years, indicating that Trimble took longer to pay its suppliers during that period.
On the other hand, in 2020 and 2019, Trimble had lower numbers of days of payables, showing that the company was able to manage its payables more efficiently during those years. Specifically, in 2020, Trimble took only 37.41 days on average to settle its accounts payable, reflecting a more rapid payment cycle. Similarly, in 2019, the number of days of payables was 39.01 days.
Overall, the trend in the number of days of payables for Trimble Inc indicates some variability in the company's payment practices over the years, with fluctuations in the time taken to settle its accounts payable.
Peer comparison
Dec 31, 2023