Vericel Corp Ord (VCEL)

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		2.77	3.98	4.04	5.07	3.22	6.62	5.45	6.61	5.56	8.64	5.60	4.71	5.91	6.02	8.49	6.07	5.92	6.74	6.56	5.34
Number of days of payables	days	131.69	91.72	90.25	71.93	113.22	55.15	66.97	55.25	65.61	42.23	65.16	77.42	61.71	60.67	43.00	60.12	61.64	54.12	55.66	68.31

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 2.77
= 131.69

Vericel Corp's number of days of payables has shown significant variability over the past eight quarters. In Q4 2023, the company took approximately 131.69 days to pay its suppliers, which was a notable increase compared to the previous quarter's 91.72 days. This suggests that Vericel Corp stretched its payables period in the most recent quarter, indicating that the company may be managing its cash flow by delaying payments to suppliers.

Looking further back, Q2 and Q3 of 2022 also showed higher numbers of days of payables compared to the later quarters of 2022 and 2023. This fluctuation may signify variations in the company's working capital management strategies over time. However, it's important to note that the number of days of payables should be analyzed in conjunction with other financial ratios and performance indicators to gain a holistic understanding of Vericel Corp's financial health and operational efficiency.