Aspen Technology Inc (AZPN)
Number of days of payables
| Jun 30, 2024 | Jun 30, 2023 | Jun 30, 2022 | ||
|---|---|---|---|---|
| Payables turnover | 47.24 | 18.40 | 9.33 | |
| Number of days of payables | days | 7.73 | 19.83 | 39.10 |
June 30, 2024 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 47.24
= 7.73
The number of days of payables for Aspen Technology Inc has decreased significantly over the past three years, indicating a positive trend in managing its payables. As of June 30, 2024, the company took about 7.73 days on average to pay its suppliers, a substantial improvement from 19.83 days in the previous year and 39.10 days two years ago. This suggests that Aspen Technology Inc has been able to more efficiently manage its accounts payable, potentially negotiating better payment terms with suppliers and improving working capital management. A lower number of days of payables indicates that the company is paying its bills more quickly, which can lead to stronger supplier relationships and potentially lower costs through discounts for early payment. Overall, this trend reflects positively on the company's financial health and operational efficiency.
Peer comparison
Jun 30, 2024