Titan International Inc (TWI)

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		8.27	9.06	8.06	7.02	7.47	7.63	6.69	6.01	6.06	6.20	6.10	6.01	7.74	8.37	9.57	7.86	9.26	8.30	7.32	6.19
Number of days of payables	days	44.15	40.27	45.28	52.00	48.88	47.84	54.54	60.72	60.23	58.88	59.84	60.75	47.18	43.62	38.14	46.46	39.43	44.00	49.84	58.96

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 8.27
= 44.15

The number of days of payables for Titan International, Inc. has fluctuated over the past eight quarters, ranging from a low of 43.90 days to a high of 66.42 days. In Q4 2023, the number of days of payables was 48.44 days, which indicates that the company takes approximately 48.44 days, on average, to pay its suppliers. This represents an improvement from the previous quarter, where the number of days of payables was 43.90 days.

Overall, Titan International, Inc. appears to be managing its payables effectively, as the number of days of payables has generally been within a reasonable range over the analyzed periods. However, the company should continue to monitor and optimize its payables management to ensure efficient cash flow and healthy supplier relationships.