La-Z-Boy Incorporated (LZB)
Number of days of payables
| Apr 27, 2024 | Apr 29, 2023 | Apr 30, 2022 | Apr 24, 2021 | Apr 25, 2020 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 12.08 | 12.89 | 13.85 | 10.56 | 17.70 | |
| Number of days of payables | days | 30.22 | 28.33 | 26.35 | 34.57 | 20.62 |
April 27, 2024 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 12.08
= 30.22
The number of days of payables for La-Z-Boy Incorporated has shown a fluctuating trend over the past five years. The company's days of payables increased from 20.62 days in 2020 to 34.57 days in 2021, indicating a significant rise in the amount of time it takes for the company to pay its trade payables. However, this trend reversed in the subsequent years, with the number of days of payables decreasing to 26.35 days in 2022 and further to 28.33 days in 2023.
In the most recent year, the number of days of payables increased slightly to 30.22 days in 2024, but it still remains lower than the 2021 figure. This suggests that La-Z-Boy Incorporated may have improved its payment efficiency in recent years after experiencing a lengthening of its payables period in 2021. The management's ability to effectively manage and negotiate payment terms with its suppliers can impact the number of days of payables, which is an important metric for assessing the company's liquidity and working capital management.
Peer comparison
Apr 27, 2024