WEC Energy Group Inc (WEC)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 3.96 | 3.99 | 3.55 | 2.89 | 3.22 | |
| Number of days of payables | days | 92.16 | 91.39 | 102.80 | 126.11 | 113.45 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 3.96
= 92.16
The number of days of payables for WEC Energy Group Inc has fluctuated over the past five years. The company took approximately 102.55 days to pay its suppliers at the end of 2023, which is slightly longer compared to 100.32 days in the previous year. This suggests that the company is taking slightly longer to settle its payables in 2023.
Looking further back, the number of days of payables was 110.87 days at the end of 2021, 138.59 days at the end of 2020, and 123.73 days at the end of 2019. This shows that there has been some variability in the company's payment practices over the years, with a significant increase in the number of days taken to pay suppliers in 2020, followed by a decrease in 2021 and subsequent fluctuations in the following years.
Overall, the trend in the number of days of payables indicates that WEC Energy Group Inc's payment cycles have been somewhat inconsistent in recent years, with the company taking varying amounts of time to settle its payables. Further analysis and comparison with industry averages may provide additional insights into the company's liquidity management and supplier relationships.
Peer comparison
Dec 31, 2023