Nike Inc (NKE)
Number of days of payables
| May 31, 2024 | May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 15.96 | 15.83 | 11.92 | 13.26 | 15.25 | |
| Number of days of payables | days | 22.87 | 23.06 | 30.61 | 27.53 | 23.93 |
May 31, 2024 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 15.96
= 22.87
The number of days of payables for Nike Inc has varied over the past five years. As of May 31, 2024, the company took approximately 22.87 days to pay its payables on average. This represents a slight decrease from the previous year, where it took 23.06 days to settle its payables.
Comparing to two years prior, the number of days of payables was significantly lower in 2024, indicating an improvement in the company's ability to manage its payables effectively. However, in 2022, the number of days required to pay off payables was higher at 30.61 days, suggesting that the company took longer to settle its outstanding obligations that year.
Looking back further, in 2021 and 2020, the number of days of payables were 27.53 days and 23.93 days respectively. Nike Inc managed to reduce the number of days required to pay its payables in 2024 compared to these years, demonstrating efficiency in managing its payables.
Overall, the trend in the number of days of payables for Nike Inc shows fluctuations over the past five years, with some improvements in efficiency observed in 2024 compared to previous years.
Peer comparison
May 31, 2024