United Rentals Inc (URI)

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		9.41	7.28	5.73	6.41	5.83	5.68	5.88	7.31	7.19	5.35	6.09	9.42	11.47	10.03	17.66	11.82	12.51	6.55	6.94	8.89
Number of days of payables	days	38.78	50.14	63.75	56.96	62.55	64.26	62.09	49.94	50.80	68.19	59.90	38.76	31.81	36.38	20.66	30.87	29.17	55.70	52.57	41.06

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 9.41
= 38.78

To analyze United Rentals, Inc.'s number of days of payables, we observe that it has exhibited some fluctuations over the recent periods. The number of days of payables decreased from 86.74 days as of December 31, 2022, to 53.55 days as of December 31, 2023. This suggests that the company took fewer days to pay its payables, which may indicate improved efficiency in managing its accounts payable.

However, looking at the trend over the last eight quarters, the number of days of payables has been somewhat volatile, reaching a peak of 88.25 days as of June 30, 2023. Fluctuations in this ratio can indicate changes in the company's payment policies or the timing of its payables. It would be beneficial to consider the company's overall payment terms, relationships with suppliers, and any specific events that may have influenced these changes.

In conclusion, while the recent decrease in the number of days of payables may signal improved efficiency, the overall trend appears to be somewhat erratic. Therefore, further analysis and investigation into the factors driving these fluctuations would be necessary to fully understand United Rentals, Inc.'s management of its payables.