Xpel Inc (XPEL)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 13.80 | 16.45 | 8.80 | 10.51 | 15.28 | |
| Number of days of payables | days | 26.45 | 22.19 | 41.46 | 34.72 | 23.89 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 13.80
= 26.45
The number of days of payables for XPEL Inc has fluctuated over the past five years. In 2023, the company took approximately 37.82 days to settle its payables, showing an increase from the previous year. This indicates that XPEL Inc may be taking slightly longer to pay its suppliers or vendors. Comparing this to 2021 and 2020, where the number of days of payables was 55.16 days and 45.83 days respectively, it appears that XPEL Inc has improved its efficiency in managing payables. However, this figure is higher than the number of days in 2019, where the company took 31.42 days to settle its payables. Overall, the trend in the number of days of payables suggests that XPEL Inc has demonstrated some variability in its payment practices over the years, and further analysis would be needed to determine the underlying reasons for these fluctuations.