UFP Technologies Inc (UFPT)

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		15.51	12.52	13.34	16.38	15.92	13.95	10.80	13.69	18.11	23.89	20.87	28.32	41.05	37.95	32.55	24.11	39.45	26.68	30.66	29.71
Number of days of payables	days	23.53	29.16	27.36	22.29	22.93	26.16	33.80	26.66	20.15	15.28	17.49	12.89	8.89	9.62	11.21	15.14	9.25	13.68	11.91	12.29

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 shown some fluctuations over the past several quarters. The company's ability to pay its suppliers within a certain period is crucial for managing its working capital efficiently.

In recent quarters, the number of days of payables has ranged from a low of 8.89 days to a high of 33.80 days. This indicates variability in the time it takes for the company to settle its outstanding payables.

Analyzing the trend, we observe that the number of days of payables has generally been fluctuating without showing a clear trend. This suggests that the company's management of its payables may be influenced by various factors, such as changes in supplier terms, purchasing patterns, and cash flow management.

It is important for UFP Technologies Inc to closely monitor and manage its payables effectively to ensure a healthy working capital position and maintain good relationships with its suppliers. A stable and optimized number of days of payables can contribute to a more efficient cash conversion cycle and overall financial health.