Concentrix Corporation (CNXC)

Number of days of payables

		Feb 29, 2024	Nov 30, 2023	Aug 31, 2023	May 31, 2023	Feb 28, 2023	Nov 30, 2022	Aug 31, 2022	May 31, 2022	Feb 28, 2022	Nov 30, 2021	Aug 31, 2021	May 31, 2021	Feb 28, 2021
Payables turnover		24.85	18.63	30.37	27.91	29.11	25.23	34.76	34.89	31.50	27.97
Number of days of payables	days	14.69	19.60	12.02	13.08	12.54	14.47	10.50	10.46	11.59	13.05

February 29, 2024 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 24.85
= 14.69

The number of days of payables for Concentrix Corporation has shown some fluctuations over the recent quarters. As of Feb 29, 2024, the number of days of payables stands at 14.69 days, indicating that on average, it takes approximately 14.69 days for the company to pay off its suppliers.

Comparing this to the previous quarters, we observe variability in the number of days of payables. The highest number of days of payables was reported on Nov 30, 2023, at 19.60 days, suggesting a longer payment cycle during that period. On the other hand, the lowest number of days of payables was noted on Aug 31, 2022, at 10.50 days, indicating a relatively shorter payment cycle.

Overall, the trend in the number of days of payables for Concentrix Corporation may indicate the company's efficiency in managing its payables and cash flow. It is essential to monitor this ratio over time to assess the company's liquidity and relationships with its suppliers effectively.