Bill Com Holdings Inc (BILL)

Number of days of payables

		Jun 30, 2025	Mar 31, 2025	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
Payables turnover		16.70	29.93	49.11	24.40	35.47	34.70	24.60	31.57	22.77	20.22	12.16	13.93	14.58	12.92	8.49	6.05	5.19	11.95	9.12	6.41
Number of days of payables	days	21.86	12.19	7.43	14.96	10.29	10.52	14.84	11.56	16.03	18.05	30.03	26.21	25.04	28.26	42.98	60.31	70.30	30.55	40.03	56.92

June 30, 2025 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 16.70
= 21.86

The trend in the number of days of payables for Bill Com Holdings Inc. over the observed period indicates significant variability with an overall downward trajectory. Starting at approximately 56.92 days as of September 30, 2020, there was a notable decrease to around 40.03 days by December 31, 2020. This suggests an improvement in the company's payment practices or changes in the terms negotiated with suppliers.

The complement of this period further decreased to approximately 30.55 days by March 31, 2021, signifying a steady acceleration in settling payables. However, there was a subsequent increase to 70.30 days by June 30, 2021, indicating a temporary extension in payables, potentially due to strategic payment deferrals or liquidity management considerations.

Following this peak, the number of days of payables generally declined, recording approximately 60.31 days at September 30, 2021, and then continuing a decreasing trend to approximately 42.98 days by December 31, 2021, and further to about 28.26 days by March 31, 2022. The downward movement persisted into 2022, with the figures reaching around 25.04 days at June 30, 2022, and stabilizing near 26.21 days at September 30, 2022.

In early 2023, this metric further contracted, declining to approximately 18.05 days by March 31, 2023, and reaching the lowest point of about 10.52 days by March 31, 2024. It then experienced minor fluctuations, rising to approximately 14.96 days at September 30, 2024, before decreasing again to about 7.43 days by December 31, 2024.

Subsequent quarters show a gradual increase, with the number of days of payables rising to approximately 12.19 days by March 31, 2025, and further to about 21.86 days by June 30, 2025.

Overall, the data reflects a pronounced reduction in payable days over the five-year period, particularly from mid-2022 onward, which suggests a possible strategic shift towards quicker payments to suppliers or improved cash flow management. The fluctuations, especially the marked increase in June 2021 and the subsequent consistent decline, indicate periods of altered payment policies or operational adjustments impacting the company's accounts payable cycle.