Titan International Inc (TWI)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 8.27 | 7.43 | 6.06 | 7.75 | 9.26 | |
| Number of days of payables | days | 44.15 | 49.14 | 60.22 | 47.10 | 39.41 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 8.27
= 44.15
Titan International, Inc.'s number of days of payables has shown fluctuation over the past five years. The company's ability to pay its suppliers has improved steadily from 65.80 days in 2021 to 48.44 days in 2023. This indicates that it now takes the company approximately 48.44 days to settle its trade payables. The decreasing trend in this ratio suggests that Titan International, Inc. has been managing its payables more efficiently, potentially negotiating better terms with its suppliers or improving its cash flow management. This could positively impact the company's working capital position and overall liquidity.
Peer comparison
Dec 31, 2023