Paychex Inc (PAYX)
Inventory turnover
| May 31, 2024 | Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | May 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | May 31, 2022 | Feb 28, 2022 | Nov 30, 2021 | Aug 31, 2021 | May 31, 2021 | Feb 28, 2021 | Nov 30, 2020 | Aug 31, 2020 | May 31, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 1,479,300 | 1,473,900 | 1,467,000 | 1,462,200 | 1,453,000 | 1,443,200 | 1,422,500 | 1,394,800 | 1,356,300 | 1,312,100 | 1,288,300 | 1,276,600 | 1,271,200 | 1,247,100 | 1,259,000 | 1,262,500 | 1,280,800 | 1,253,300 | 1,249,700 | 1,219,700 |
| Inventory | US$ in thousands | — | 0 | 5,571,100 | 5,520,500 | 4,216,700 | -588,200 | -494,800 | — | — | — | 3,984,400 | 3,830,500 | 3,834,800 | 4,280,700 | 3,490,900 | 3,365,100 | 3,497,100 | 4,438,600 | 3,846,400 | 3,824,900 |
| Inventory turnover | — | — | 0.26 | 0.26 | 0.34 | — | — | — | — | — | 0.32 | 0.33 | 0.33 | 0.29 | 0.36 | 0.38 | 0.37 | 0.28 | 0.32 | 0.32 |
May 31, 2024 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $1,479,300K ÷ $—K
= —
The inventory turnover ratio for Paychex Inc has shown some fluctuation over the past few years. In the most recent data available, as of November 30, 2023, and August 31, 2023, the inventory turnover ratio was 0.26. This indicates that Paychex Inc is turning over its inventory approximately 0.26 times during the year, which suggests a relatively slow rate of inventory turnover.
However, compared to previous periods, there have been slight improvements in inventory turnover. For example, in May 31, 2023, and February 28, 2023, the ratio was 0.34 and 0.33 respectively, indicating a slightly better rate of inventory turnover during those periods.
It is important to note that there are missing data points in the table, indicating that inventory turnover was not available for those periods. This lack of data may make it challenging to identify a consistent trend in inventory management over time.
Overall, based on the available data, it appears that while there have been some improvements in inventory turnover for Paychex Inc in certain periods, the company may still be working to optimize its inventory management practices to achieve more efficient turnover rates.