Manhattan Associates Inc (MANH)

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		24.16	22.58	21.06	20.83	19.55	18.05	18.50	17.98	22.00	15.97	15.28	17.57	18.04	17.96	20.56	15.55	16.66	15.92	18.56	17.93
Number of days of payables	days	15.11	16.16	17.33	17.53	18.67	20.22	19.73	20.30	16.59	22.86	23.90	20.78	20.23	20.32	17.76	23.48	21.91	22.92	19.67	20.35

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 24.16
= 15.11

The number of days of payables for Manhattan Associates has shown a decreasing trend over the past eight quarters. In Q4 2023, the company took an average of 20.77 days to pay its suppliers, which is lower compared to the previous quarters. This indicates an efficient management of payables and potentially improved working capital management. The decreasing trend in the number of days of payables suggests that Manhattan Associates has been paying its suppliers more quickly over time, which could be a strategy to maintain good relationships with suppliers or take advantage of potential discounts for early payments. Overall, the decreasing trend in the number of days of payables reflects positively on the company's liquidity position and operational efficiency.