UFP Technologies Inc (UFPT)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 15.51 | 15.92 | 18.11 | 41.05 | 39.45 | |
| Number of days of payables | days | 23.53 | 22.92 | 20.15 | 8.89 | 9.25 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 15.51
= 23.53
The number of days of payables for UFP Technologies Inc has been relatively stable over the past five years, ranging from 8.89 days in 2020 to 23.53 days in 2023. A higher number of days of payables indicates that the company takes longer to pay its suppliers, potentially signaling a weakening financial position or strategic delay in payment to manage cash flow. Conversely, a lower number of days of payables suggests efficient management of accounts payable. Overall, UFP Technologies Inc's number of days of payables has shown some fluctuation but remains within a reasonable range, indicating a fairly balanced approach to managing its payables over the years.
Peer comparison
Dec 31, 2023