Vector Group Ltd (VGR)
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 | 160.82 | 166.16 | 146.28 | 188.85 | 157.24 | 174.38 | 115.26 | 109.48 | 81.49 | 65.53 | 120.27 | 93.88 | 249.15 | 123.82 | 113.89 | 105.86 | 130.69 | 99.70 | 154.00 | 133.99 | |
| Number of days of payables | days | 2.27 | 2.20 | 2.50 | 1.93 | 2.32 | 2.09 | 3.17 | 3.33 | 4.48 | 5.57 | 3.03 | 3.89 | 1.46 | 2.95 | 3.20 | 3.45 | 2.79 | 3.66 | 2.37 | 2.72 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 160.82
= 2.27
The number of days of payables for Vector Group Ltd has shown variability in recent quarters. In Q4 2023, the company's number of days of payables was 2.55 days, indicating that, on average, it takes approximately 2.55 days for Vector Group Ltd to pay its suppliers. This figure decreased from 2.38 days in Q3 2023 and increased from the previous quarter's low of 1.99 days in Q1 2023.
Comparing the current year to the same quarter in the previous year, we observe a downward trend in the number of days of payables. In Q4 2023, the number of days of payables is lower compared to Q4 2022, where it stood at 2.32 days. This trend indicates that Vector Group Ltd has been managing its payables more efficiently over time.
It is worth noting the significant improvement in payables management compared to Q3 2022 and Q2 2022 when the number of days of payables was substantially higher at 9.53 days and 7.11 days, respectively. This suggests that the company has been more prompt in settling its payables in recent quarters.
Overall, the downward trend in the number of days of payables reflects a positive aspect of Vector Group Ltd's financial management strategy, indicating efficient working capital management and strong relationships with suppliers. Nevertheless, ongoing monitoring of this metric is essential to ensure sustainability and continued effectiveness in managing payables.
Peer comparison
Dec 31, 2023