Vector Group Ltd (VGR)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 160.64 | 157.24 | 81.49 | 125.92 | 50.62 | |
| Number of days of payables | days | 2.27 | 2.32 | 4.48 | 2.90 | 7.21 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 160.64
= 2.27
The number of days of payables for Vector Group Ltd has shown fluctuations over the past five years. In 2023, the company had 2.55 days of payables, a slight increase from the previous year's 2.32 days. This suggests that the company takes approximately 2.55 days on average to pay its suppliers.
Compared to 2021 when the number of days of payables was 4.48 days, the current level of 2.55 days indicates a significant improvement in the company's ability to manage its payables efficiently. Similarly, in 2020 and 2019, the number of days of payables was 3.43 days and 2.87 days, respectively, further highlighting the downward trend in the time taken by the company to settle its payables.
Overall, the decreasing trend in the number of days of payables for Vector Group Ltd over the past few years suggests enhanced liquidity and potentially more favorable relationships with its suppliers. It indicates that the company is managing its payables effectively, which can have positive implications for its cash flow management and working capital efficiency.
Peer comparison
Dec 31, 2023