Fortinet Inc (FTNT)

Number of days of payables

		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	Jun 30, 2019	Mar 31, 2019
Payables turnover		17.00	13.36	13.72	13.09	12.17	13.04	13.71	14.20	15.44	15.04	15.00	14.28	12.53	17.82	15.40	18.35	16.04	17.20	19.79	19.97
Number of days of payables	days	21.47	27.31	26.61	27.89	29.98	28.00	26.63	25.70	23.65	24.27	24.34	25.56	29.12	20.49	23.71	19.89	22.76	21.22	18.45	18.28

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 17.00
= 21.47

The number of days of payables for Fortinet Inc has shown fluctuating trends over the past year, ranging from 60.27 days to 81.89 days. In the most recent quarter, Q4 2023, the number of days of payables decreased to 60.27 days compared to the previous quarter, indicating that the company took fewer days to pay its suppliers. This may suggest improved efficiency in managing its payables or negotiating more favorable payment terms.

However, it is essential to note that there have been periods, such as in Q4 2022, where the number of days of payables increased significantly to 81.89 days, potentially indicating delays in payments to suppliers during that period. Overall, monitoring the number of days of payables can provide insights into Fortinet Inc's liquidity management, supplier relationships, and operational efficiency in managing its working capital.