Donaldson Company Inc (DCI)

The analysis of Donaldson Company Inc’s accounts payable turnover, as measured by the number of days of payables, reveals notable fluctuations over the period from October 2020 to July 2025. Initially, the days payable stood at approximately 45.42 days in October 2020, indicating a relatively prompt payment cycle. Over subsequent quarters, this figure generally increased, peaking at around 57.38 days in October 2021 and maintaining elevated levels through much of 2022, with values remaining near 55-58 days.

Between late 2022 and early 2023, a slight reduction in the days payable is observed, reaching approximately 48.22 days in January 2023, suggesting a quicker settlement process during that period. However, this trend reversed in mid to late 2023, with the days of payables rising again to approximately 52.58 days by October 2023.

From that point onward, a modest upward trajectory re-emerged, culminating in an increase to about 58.76 days in April 2024. Subsequently, the figure maintained a high level close to 59.70 days in July 2024 before experiencing a slight decline to approximately 57.90 days in October 2024. The pattern then stabilized temporarily around the 58-day mark, with minor fluctuations, reaching 58.35 days by January 2025 and slightly decreasing to approximately 55.91 days in April 2025, ending at about 55.95 days in July 2025.

Overall, the data indicates periods of both extension and shortening in the accounts payable cycle. The upward trend observed through much of 2021 and 2022 suggests a tendency toward lengthening payment periods during this timeframe, which could be attributable to changes in supply chain management, credit terms negotiated with suppliers, or other strategic financial decisions. Conversely, brief periods of shorter payables imply efforts to optimize working capital or improve supplier relationships. The recent stabilization around 56-59 days reflects a maintained balance between extending payables and executing timely payments.