CarMax Inc (KMX)

Number of days of payables

		Feb 29, 2024	Feb 28, 2023	Feb 28, 2022	Feb 28, 2021	Feb 29, 2020
Payables turnover		25.51	32.52	30.51	20.73	23.87
Number of days of payables	days	14.31	11.22	11.96	17.61	15.29

February 29, 2024 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 25.51
= 14.31

CarMax Inc's number of days of payables has shown some variability over the past five years. In the most recent fiscal year, as of February 29, 2024, the company's number of days of payables was 14.31 days, representing a slight increase from the previous year's 11.22 days. This suggests that CarMax took slightly longer to pay its suppliers in the most recent year compared to the prior year.

Looking back further, the number of days of payables was relatively consistent around the 11 to 15-day range in the fiscal years ending in February 2022 and 2020. However, there was a noticeable increase to 17.61 days in the fiscal year ending February 28, 2021, indicating that CarMax took longer to settle its payables during that period.

Overall, the trend in CarMax's number of days of payables indicates some fluctuations in the company's payment behavior towards its suppliers. It is important to monitor this metric to understand how efficiently CarMax manages its payment obligations and assess the impact on its working capital management.