Ufp Industries Inc (UFPI)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 28.56 | 37.87 | 22.65 | 20.58 | 26.18 | |
| Number of days of payables | days | 12.78 | 9.64 | 16.11 | 17.73 | 13.94 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 28.56
= 12.78
The number of days of payables for Ufp Industries Inc has fluctuated over the past five years. In 2023, the company took approximately 12.78 days to pay its suppliers, which is an increase compared to the previous year when it took 9.64 days. This indicates that the company may be taking longer to settle its accounts payable obligations. In 2021, the number of days of payables was 16.11 days, showing a decrease from the prior year. However, in 2020 and 2019, the company took around 17.73 days and 13.94 days, respectively, to pay its suppliers.
Overall, the trend in the number of days of payables suggests some inconsistency in Ufp Industries Inc's payment terms with its suppliers. It is essential for the company to manage its payables effectively to maintain good relationships with suppliers and optimize its working capital management.