Griffon Corporation (GFF)
Number of days of payables
| 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 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Payables turnover | 19.39 | 14.88 | 16.34 | 17.10 | 22.50 | 20.87 | 20.51 | 19.31 | 15.85 | 10.73 | 9.74 | 8.72 | 8.25 | 7.05 | 7.00 | 7.35 | 9.85 | 10.27 | 9.60 | 9.87 | |
| Number of days of payables | days | 18.83 | 24.52 | 22.34 | 21.34 | 16.22 | 17.49 | 17.80 | 18.90 | 23.03 | 34.03 | 37.49 | 41.88 | 44.25 | 51.76 | 52.13 | 49.64 | 37.06 | 35.54 | 38.01 | 36.97 |
September 30, 2024 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 19.39
= 18.83
Over the past several quarters, Griffon Corporation has shown fluctuations in its number of days of payables. The trend indicates that the company has been managing its payables well, with the number of days of payables decreasing from highs of around 52 days to current levels of around 18-25 days. This suggests that the company is taking relatively fewer days to pay its suppliers and vendors, which can indicate effective working capital management. The recent decrease in the number of days of payables compared to previous quarters may imply that Griffon Corporation has enhanced its efficiency in managing its accounts payable, potentially improving cash flow and liquidity. It is essential for investors and stakeholders to monitor this ratio continuously to assess the company's financial health and liquidity position.