Applied Industrial Technologies (AIT)
Number of days of payables
| Jun 30, 2024 | Jun 30, 2023 | Jun 30, 2022 | Jun 30, 2021 | Jun 30, 2020 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 15.03 | 13.16 | 13.43 | 14.73 | 17.17 | |
| Number of days of payables | days | 24.28 | 27.73 | 27.18 | 24.77 | 21.26 |
June 30, 2024 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 15.03
= 24.28
The number of days of payables for Applied Industrial Technologies has fluctuated over the past five years. In the most recent year ended June 30, 2024, the company took an average of 24.28 days to pay its suppliers, which was a decrease compared to the previous year. This suggests that the company is able to better manage its payables and settle its obligations more efficiently. However, it is important to note that this metric alone may not provide a comprehensive view of the company's overall financial health and should be considered alongside other financial ratios and metrics for a more well-rounded analysis.