Adtalem Global Education Inc (ATGE)

Number of days of payables

		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	Dec 31, 2019	Sep 30, 2019
Payables turnover		13.37	15.06	15.40	17.29	16.12	17.97	18.88	21.66	24.47	19.95	18.71	10.95	22.81	27.41	23.63	19.10	20.02	26.92	30.45	21.94
Number of days of payables	days	27.29	24.24	23.70	21.11	22.64	20.31	19.33	16.85	14.91	18.29	19.50	33.33	16.00	13.32	15.45	19.11	18.23	13.56	11.98	16.63

June 30, 2024 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 13.37
= 27.29

Adtalem Global Education Inc's number of days of payables has generally been fluctuating over the past few quarters but has shown a decreasing trend overall. As of June 30, 2024, the company takes approximately 27.29 days to pay its accounts payable, which is higher compared to the previous quarter ending March 31, 2024, where it took 24.24 days.

Looking back at historical data, there has been a gradual reduction in the number of days taken to pay payables since the beginning of 2022, where the number of days was at its peak of 33.33 days. This decrease may indicate improvements in the company's working capital management or perhaps negotiation of more favorable payment terms with its suppliers.

However, it's worth noting that the current number of days of payables is still higher than some previous quarters, such as December 31, 2021, and September 30, 2021, where the company took 19.50 days and 33.33 days, respectively, to pay its payables. Further analysis would be advisable to understand the specific reasons behind these fluctuations in the number of days of payables and their impact on the company's overall financial health and liquidity management.