Waters Corporation (WAT)

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		13.76	14.77	13.60	8.70	11.40	11.03	10.73	11.54	10.64	11.11	11.64	14.29	12.82	14.67	17.37	14.56	17.86	13.34	12.83	11.98
Number of days of payables	days	26.52	24.72	26.84	41.94	32.02	33.08	34.01	31.63	34.30	32.85	31.36	25.55	28.47	24.88	21.02	25.08	20.43	27.36	28.45	30.46

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 13.76
= 26.52

To analyze Waters Corp.'s number of days of payables, we can observe a decreasing trend from Q4 2022 to Q1 2023, where the number of days decreased from 27.28 days to 27.39 days and then continued to decline to 24.10 days in Q2 2023. However, in Q3 2023, there was a slight increase to 23.79 days, followed by a minor increase to 25.87 days in Q4 2023.

Overall, the number of days of payables for Waters Corp. has been relatively stable over the past eight quarters, ranging between approximately 23.79 days to 29.43 days with no significant fluctuations. This indicates that the company has been able to effectively manage its accounts payable turnover, ensuring a consistent level of efficiency in paying its suppliers over time.