O’Reilly Automotive Inc (ORLY)

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		2.07	2.01	1.96	1.95	1.95	2.00	2.06	2.16	2.22	2.19	2.15	2.21	2.20	2.19	2.18	2.21	2.28	2.24	2.26	2.28
Number of days of payables	days	176.03	181.22	186.46	186.81	187.19	182.86	176.80	169.34	164.35	166.58	169.75	165.21	166.13	166.84	167.43	164.91	159.85	162.77	161.33	160.09

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 2.07
= 176.03

Based on the data provided for O`Reilly Automotive, Inc., the number of days of payables has shown some fluctuation over the past eight quarters. The average number of days of payables is approximately 297 days, indicating that the company takes approximately 297 days to pay off its accounts payable.

It is noteworthy that there was a slight decrease in the number of days of payables from Q4 2022 to Q1 2023, followed by a relatively stable period in Q2 and Q3 2023. The number of days of payables increased in Q4 2023 compared to the previous quarter, reaching 288.48 days.

Overall, the trend suggests that O`Reilly Automotive, Inc. has been managing its payables efficiently, maintaining them at a level that aligns with industry standards and possibly optimizing its working capital management. Further analysis and comparison with industry peers may provide additional insights into the company's payables management performance.