Allete Inc (ALE)

Number of days of payables

Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Payables turnover 1.88 5.12 5.88 8.40 8.75 8.16 10.36 9.20 5.70 3.74 3.26 5.48 3.74 3.94 3.99 3.70 3.55 1.74 1.58 0.82
Number of days of payables days 193.85 71.28 62.04 43.48 41.73 44.70 35.23 39.67 64.01 97.57 112.10 66.61 97.56 92.75 91.50 98.65 102.76 209.25 230.57 443.83

December 31, 2024 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 1.88
= 193.85

Allete Inc's number of days of payables has shown fluctuating trends over the period from March 31, 2020, to December 31, 2024. The number of days of payables started at a relatively high level of 443.83 days on March 31, 2020, which indicates that the company took an average of approximately 443.83 days to pay its suppliers.

The trend then shows a gradual decrease over the next few quarters, reaching its lowest point of 35.23 days on June 30, 2023. This significant reduction suggests an improvement in the company's efficiency in managing its payables, as it was able to reduce the average number of days taken to pay suppliers substantially.

However, from December 31, 2023, to December 31, 2024, there was a notable increase in the number of days of payables, peaking at 193.85 days on December 31, 2024. This increase may indicate a change in the company's payment policies or its relationship with suppliers during this period.

Overall, Allete Inc's number of days of payables has shown variability, with periods of both improvement and worsening in the efficiency of its payables management. Further analysis would be needed to understand the specific reasons behind these fluctuations and their impact on the company's financial performance and working capital management.