National Fuel Gas Company (NFG)

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		4.16	3.66	6.49	5.31	3.52	2.91	3.38	3.24	2.64	1.70	2.51	2.72	3.12	1.87	2.79	2.24	1.05	1.07	1.22	0.92
Number of days of payables	days	87.66	99.69	56.22	68.79	103.80	125.40	108.06	112.56	138.02	214.66	145.70	134.35	117.16	195.32	130.69	162.92	347.18	340.40	299.57	395.83

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 4.16
= 87.66

The number of days of payables for National Fuel Gas Co. has shown fluctuation over the past few quarters. In Q1 2024, the company had 119.11 days of payables, indicating that on average, it takes approximately 119 days for the company to pay off its outstanding liabilities relating to purchases. This represents an improvement from the previous quarter (Q4 2023) where the number of days of payables was 126.94 days.

In Q3 2023, the number of days of payables dropped significantly to 70.79 days, suggesting that the company was able to manage its payables more efficiently during that period. However, in Q4 2022 and Q1 2023, the number of days of payables were considerably higher at 166.58 days and 133.13 days, respectively.

It is important to note that a lower number of days of payables indicates that the company is able to pay its suppliers more quickly, which may be beneficial in terms of maintaining good relationships with vendors. Conversely, a higher number of days of payables may suggest potential liquidity issues or inefficient management of payable obligations. Monitoring this metric over time can provide insights into the company's working capital management and financial health.