Performance Food Group Co (PFGC)
Cash conversion cycle
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Days of inventory on hand (DOH) | days | 25.39 | 24.94 | 26.95 | 25.78 | 23.40 | 22.04 | 23.72 | 25.13 | 24.26 | 23.28 | 24.23 | 24.57 | 27.42 | 27.62 | 32.89 | 34.98 | 24.98 | 23.67 | 22.86 | 24.27 |
| Days of sales outstanding (DSO) | days | 16.89 | 16.72 | 16.35 | 15.68 | 15.97 | 15.36 | 14.89 | 15.25 | 15.56 | 14.63 | 14.54 | 15.26 | 16.79 | 17.95 | 19.34 | 24.21 | 19.57 | 19.46 | 16.94 | 20.42 |
| Number of days of payables | days | 20.67 | 20.50 | 20.01 | 19.44 | 18.31 | 17.79 | 17.20 | 17.99 | 17.56 | 17.76 | 17.52 | 19.37 | 20.47 | 22.88 | 25.22 | 28.99 | 24.13 | 23.23 | 15.86 | 23.20 |
| Cash conversion cycle | days | 21.61 | 21.16 | 23.29 | 22.02 | 21.06 | 19.61 | 21.41 | 22.39 | 22.26 | 20.15 | 21.25 | 20.46 | 23.74 | 22.69 | 27.01 | 30.19 | 20.42 | 19.90 | 23.94 | 21.48 |
June 30, 2025 calculation
Cash conversion cycle = DOH + DSO – Number of days of payables
= 25.39 + 16.89 – 20.67
= 21.61
The cash conversion cycle (CCC) of Performance Food Group Co over the period from September 2020 to June 2025 exhibits notable stability with some fluctuations, indicating the company's consistent management of its working capital and operational efficiency.
Initially, the CCC was approximately 21.48 days as of September 2020, gradually increasing to a peak of around 30.19 days in September 2021. This uptick suggests a period where either the company's receivables took longer to convert into cash, inventory turnover slowed, or payables were extended less favorably. Post this peak, the CCC demonstrated a decreasing trend, approximating 21 days by December 2021, suggesting improvements in cash management or operational efficiencies.
Throughout 2022, the CCC maintained a relatively stable range, fluctuating between approximately 20.46 days and 23.74 days. This stability indicates a period of operational consistency, with no significant deterioration or improvement in working capital cycles. In the subsequent period extending into 2023, the CCC remained within a narrow band around 20 to 22 days, reflecting continued stability and manageable liquidity cycles.
During the most recent data points up to June 2025, the CCC continued to hover within the range of approximately 19.61 days to 21.61 days, further confirming steady operational efficiency. Minor variations across quarters suggest slight shifts in the collection period, inventory turnover, or payment policies, but overall, the cycle remains relatively consistent.
In summary, Performance Food Group Co's cash conversion cycle has demonstrated resilience and stability throughout the analyzed period, with fluctuations largely attributable to operational or market conditions but within a manageable range. This consistency indicates effective working capital management and stable operational processes over the observed timeframe.
Peer comparison
Jun 30, 2025