Olympic Steel Inc (ZEUS)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 15.66 | 22.16 | 13.25 | 12.56 | 20.23 | |
| Number of days of payables | days | 23.31 | 16.47 | 27.56 | 29.07 | 18.04 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 15.66
= 23.31
The number of days of payables for Olympic Steel Inc. has varied over the past five years. In 2023, the company took approximately 25.94 days to pay its suppliers, which represents an increase compared to the previous year. In 2022, the number of days of payables was 17.85 days, indicating a shorter period for settling payables compared to 2023. However, this period was longer in 2021 at 30.11 days and further increased in 2020 to 32.54 days. The shortest period in recent years was observed in 2019 at 19.80 days. This trend suggests that Olympic Steel Inc. has been managing its payables differently over the years, potentially impacting its cash flow and relationships with suppliers.
Peer comparison
Dec 31, 2023