AAR Corp (AIR)
Number of days of payables
| May 31, 2025 | Feb 28, 2025 | Nov 30, 2024 | Aug 31, 2024 | May 31, 2024 | Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | May 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | May 31, 2022 | Feb 28, 2022 | Nov 30, 2021 | Aug 31, 2021 | May 31, 2021 | Feb 28, 2021 | Nov 30, 2020 | Aug 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Payables turnover | 7.43 | 7.81 | 7.16 | 7.66 | 7.88 | 7.78 | 8.40 | 7.67 | 10.22 | 9.84 | 9.63 | 7.61 | 9.63 | 10.56 | 11.58 | 9.81 | 10.82 | 7.62 | 7.84 | 9.43 | |
| Number of days of payables | days | 49.11 | 46.75 | 51.00 | 47.64 | 46.29 | 46.89 | 43.43 | 47.58 | 35.70 | 37.10 | 37.92 | 47.95 | 37.89 | 34.58 | 31.53 | 37.20 | 33.73 | 47.92 | 46.57 | 38.72 |
May 31, 2025 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 7.43
= 49.11
The data on the number of days of payables for AAR Corp from August 2020 through May 2025 indicates notable fluctuations over the observed period. In August 2020, payables averaged approximately 38.72 days, reflecting a relatively conservative approach to supplier payments early in the period. This figure increased substantially by November 2020 to approximately 46.57 days, suggesting a lengthening of the average payment cycle, which persisted into the early months of 2021, reaching about 47.92 days in February 2021.
Subsequently, the payables period decreased to approximately 33.73 days by May 2021, indicating a brief shift toward quicker payment cycles. During the latter half of 2021, the number of days of payables stabilized in the low to mid-30s, with figures such as 37.20 days in August and 31.53 days in November. However, this pattern reversed by early 2022, where the payables period increased again to about 34.58 days in February and slightly rose to 37.89 days in May.
A significant upward trend resumed starting August 2022, with the number of days of payables increasing markedly to nearly 48 days (47.95). This elevated level persisted, albeit with some fluctuations, through late 2022 and into 2023, peaking at approximately 47.58 days in August 2023. During this period, the payables period remained elevated compared to earlier years, then slightly declined to about 43.43 days in November 2023.
Further data extending into 2024 and 2025 shows the payables period remaining relatively high, generally within a range of approximately 46.75 to 51 days. Notably, in November 2024, the days of payables reached approximately 51 days—an increase indicating a further elongation of the average payment cycle. The trend continued into early 2025, with figures around 46.75 to 49.11 days.
Overall, AAR Corp’s days of payables has exhibited considerable variability over the analyzed period, with a trend toward longer payment cycles particularly evident from mid-2022 onward. The increase in days payable might reflect strategic changes in payment policies, cash flow management, supplier negotiations, or broader economic factors influencing the company's payment behavior. The fluctuation suggests a dynamic approach to managing accounts payable, with periods of both tightening and loosening of payment terms over the observed timeline.
Peer comparison
May 31, 2025