Penguin Solutions, Inc. (PENG)

Number of days of payables

		May 31, 2025	Feb 28, 2025	Nov 30, 2024	Aug 31, 2024	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
Payables turnover		3.52	3.94	3.61	4.56	3.55	4.82	4.34	6.49	6.64	7.39	3.99	4.66	3.60	3.65	3.48	2.78	3.06	3.66	3.94	4.03
Number of days of payables	days	103.74	92.53	101.10	80.05	102.73	75.69	84.18	56.21	54.96	49.42	91.51	78.33	101.47	100.00	104.74	131.48	119.32	99.68	92.72	90.51

May 31, 2025 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 3.52
= 103.74

The data indicates that Penguin Solutions, Inc. has exhibited notable fluctuations in its number of days of payables over the analyzed periods. Initially, the company maintained a relatively moderate payable period of approximately 90.51 days as of August 31, 2020, with the duration increasing slightly to 92.72 days by November 30, 2020. This upward trend continued through early 2021, reaching a peak of approximately 131.48 days on August 31, 2021.

Subsequently, the payable period experienced a decline, falling to around 104.74 days by November 30, 2021, and stabilizing near 100 days through the first half of 2022. A significant reduction occurred by February 28, 2023, when the number of days of payables decreased sharply to approximately 49.42 days. This lower level persisted into mid-2023, with the figure slightly rising again to about 54.96 days by May 31, 2023.

From this point onward, the payable period generally increased, reaching approximately 56.21 days on August 31, 2023, and then rising more substantially to 84.18 days by November 30, 2023. The upward trend continued in early 2024, peaking at around 102.73 days on May 31, 2024, with a subsequent slight decrease to approximately 80.05 days by August 31, 2024, followed by an increase to 101.10 days by November 30, 2024. In the latest period recorded, February 28, 2025, the number of days of payables stood at approximately 92.53 days, with a further increase to 103.74 days projected for May 31, 2025.

Overall, the pattern displays periods of both expansion and contraction in the company's payables period, reflecting shifts in payment strategies, liquidity management, or operational considerations across different timeframes. The notable oscillations suggest adaptive credit and payment policies, with periods of extended payables during 2021 and early 2024, and shorter periods observed around the early 2023 timeframe.