Michang Oil Ind Co (XKRX:003650) Days Payable : 27.63 (As of Mar. 2024)

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What is Michang Oil Ind Co Days Payable?

Michang Oil Ind Co's average Accounts Payable for the three months ended in Mar. 2024 was ₩26,291 Mil. Michang Oil Ind Co's Cost of Goods Sold for the three months ended in Mar. 2024 was ₩86,819 Mil. Hence, Michang Oil Ind Co's Days Payable for the three months ended in Mar. 2024 was 27.63.

The historical rank and industry rank for Michang Oil Ind Co's Days Payable or its related term are showing as below:

XKRX:003650' s Days Payable Range Over the Past 10 Years
Min: 19.49 Med: 29.07 Max: 35.27
Current: 26.26

During the past 13 years, Michang Oil Ind Co's highest Days Payable was 35.27. The lowest was 19.49. And the median was 29.07.

XKRX:003650's Days Payable is ranked worse than
80.8% of 901 companies
in the Oil & Gas industry
Industry Median: 60.98 vs XKRX:003650: 26.26

Michang Oil Ind Co's Days Payable increased from Mar. 2023 (22.51) to Mar. 2024 (27.63). It may suggest that Michang Oil Ind Co delayed paying its suppliers.

Michang Oil Ind Co Days Payable Historical Data

The historical data trend for Michang Oil Ind Co's Days Payable can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Michang Oil Ind Co Days Payable Chart

Michang Oil Ind Co Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Days Payable

Get a 7-Day Free Trial

31.09

32.26

20.45

20.96

21.55

Michang Oil Ind Co Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Days Payable	Get a 7-Day Free Trial															22.51	22.89	25.43	25.22	27.63

Competitive Comparison of Michang Oil Ind Co's Days Payable

For the Oil & Gas Refining & Marketing subindustry, Michang Oil Ind Co's Days Payable, along with its competitors' market caps and Days Payable data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Michang Oil Ind Co's Days Payable Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Michang Oil Ind Co's Days Payable distribution charts can be found below:

* The bar in red indicates where Michang Oil Ind Co's Days Payable falls into.

Michang Oil Ind Co Days Payable Calculation

Days Payable indicates the number of days that the account payable relative to cost of goods sold the company has. An increase of Days Payable may suggest that the company delays paying its suppliers.

Michang Oil Ind Co's Days Payable for the fiscal year that ended in Dec. 2023 is calculated as

	Days Payable (A: Dec. 2023 )
=	Average Accounts Payable					/	Cost of Goods Sold	*	Days in Period
=	( (Accounts Payable (A: Dec. 2022 )	+	Accounts Payable (A: Dec. 2023 ))	/	count )	/	Cost of Goods Sold (A: Dec. 2023 )	*	Days in Period
=	( (19309.891	+	21713.4)	/	2 )	/	347418.537	*	365
=	20511.6455					/	347418.537	*	365
=	21.55

Michang Oil Ind Co's Days Payable for the quarter that ended in Mar. 2024 is calculated as:

	Days Payable (Q: Mar. 2024 )
=	Average Accounts Payable					/	Cost of Goods Sold	*	Days in Period
=	( (Accounts Payable (Q: Dec. 2023 )	+	Accounts Payable (Q: Mar. 2024 ))	/	count )	/	Cost of Goods Sold (Q: Mar. 2024 )	*	Days in Period
=	( (21713.4	+	30869.496)	/	2 )	/	86818.805	*	365 / 4
=	26291.448					/	86818.805	*	365 / 4
=	27.63

Michang Oil Ind Co Days Payable Related Terms

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Michang Oil Ind Co (XKRX:003650) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Michang Oil Ind Co Ltd (XKRX:003650) » Definitions » Days Payable

Comparable Companies

Traded in Other Exchanges

N/A

Address

241, Haeyang-ro, Yeongdo-gu, Busan, KOR

Website

http://www.michang.co.kr

Michang Oil Ind Co Ltd is engaged in the petrochemical business in South Korea. It offers automotive lubricants, including premium motor, gasoline motor, diesel motor, and automotive gear oils, as well as auto transmission fluids and other application motor oils; and industrial lubricants, such as turbine, hydraulic, compressor, and industrial gear oils, as well as heat transfer fluids.

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