Air Products and Chemicals Inc (APD)

Number of days of payables

		Sep 30, 2023	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019
Payables turnover		8.33	9.28	10.97	10.73	11.56
Number of days of payables	days	43.82	39.35	33.28	34.03	31.57

September 30, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 8.33
= 43.82

To analyze Air Products & Chemicals Inc.'s number of days of payables, the trend over the past five years indicates a consistent increase. In 2023, the number of days of payables stood at 50.12 days, reflecting an increase from 43.80 days in 2022, and a continued rise from 37.42 days in 2021, 34.03 days in 2020, and 32.26 days in 2019. This increase suggests that the company is taking longer to pay its suppliers, potentially indicating a change in the company's payables management or supplier relationships. The expanding number of days of payables warrants further investigation into the company's working capital management and potential implications for its cash flow and financial leverage.