Paychex Inc (PAYX)
Number of days of payables
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Payables turnover | 14.18 | 15.68 | 15.89 | 15.34 | 17.15 | 11.78 | 16.41 | 16.47 | 12.83 | 11.78 | 15.00 | 16.16 | 14.28 | 16.88 | 17.88 | 20.36 | 16.13 | 18.51 | 16.38 | 19.77 | |
| Number of days of payables | days | 25.73 | 23.28 | 22.96 | 23.79 | 21.28 | 30.98 | 22.25 | 22.16 | 28.45 | 30.99 | 24.34 | 22.59 | 25.55 | 21.63 | 20.41 | 17.92 | 22.63 | 19.72 | 22.28 | 18.46 |
May 31, 2024 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 14.18
= 25.73
The number of days of payables for Paychex Inc has shown some fluctuations over the periods analyzed. On average, the company takes around 23 days to pay its suppliers.
There was a notable increase in the number of days of payables in the Feb 28, 2023, and May 31, 2022 periods, indicating a potential delay in payments to suppliers during those times. However, this was followed by a decrease in the number of days of payables in subsequent periods.
Overall, the trend suggests that Paychex Inc manages its payables efficiently, with a relatively stable and reasonable payment period. The company's ability to effectively manage its payables is essential for maintaining positive relationships with suppliers while optimizing cash flow and working capital.