MillerKnoll Inc (MLKN)
Number of days of payables
| Aug 31, 2024 | Mar 2, 2024 | Dec 2, 2023 | Sep 2, 2023 | Jun 3, 2023 | Mar 4, 2023 | Dec 3, 2022 | Sep 3, 2022 | May 28, 2022 | Feb 26, 2022 | Nov 27, 2021 | Aug 28, 2021 | May 29, 2021 | Feb 27, 2021 | Nov 28, 2020 | Aug 29, 2020 | May 30, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Payables turnover | 14.75 | 15.07 | 15.07 | 15.54 | 14.62 | 14.14 | 14.32 | 13.26 | 10.80 | 9.98 | 8.83 | 7.60 | 12.24 | 10.76 | 10.91 | 11.59 | 14.95 | 13.25 | 14.09 | 13.09 | |
| Number of days of payables | days | 24.75 | 24.22 | 24.22 | 23.49 | 24.97 | 25.82 | 25.49 | 27.52 | 33.80 | 36.57 | 41.36 | 48.04 | 29.82 | 33.93 | 33.45 | 31.49 | 24.42 | 27.55 | 25.91 | 27.89 |
August 31, 2024 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 14.75
= 24.75
MillerKnoll Inc's number of days of payables has fluctuated over the past few periods. The company's average number of days of payables is around 29 days, however, there are significant variations in individual periods ranging from a low of 23.49 days to a high of 48.04 days. This indicates that the company takes, on average, approximately one month to pay its creditors.
A decreasing trend in the number of days of payables could indicate that the company is managing its payables more efficiently, potentially negotiating better payment terms with its suppliers. Conversely, an increasing trend may signal that the company is facing cash flow constraints or experiencing challenges in managing its working capital effectively.
Overall, a comprehensive analysis of MillerKnoll Inc's number of days of payables over multiple periods can provide valuable insights into the company's liquidity position, operational efficiency, and supplier relationships.