Procter & Gamble Company (PG)

The analysis of Procter & Gamble Company's accounts payable days over the specified periods reveals notable fluctuations and trends. At the beginning of the observed timeline, on September 30, 2020, the company maintained approximately 122.13 days of payables. This figure remained relatively stable throughout 2020 and the first quarter of 2021, with minor variations, reaching 122.15 days by March 31, 2021.

Subsequently, during the second quarter of 2021, there was a marked increase to approximately 134.95 days, indicating a lengthening of the period the company took to settle its payables. This upward trend continued, reaching a peak of approximately 135.44 days on September 30, 2021. Such an increase may suggest deliberate policy adjustments, improved bargaining terms, or changes in cash management strategies.

In the latter part of 2021 and into early 2022, the number of days of payables gradually decreased, with figures of approximately 129.99 days in December 2021 and further down to 125.74 days by March 2022. This downward movement persisted into 2022, settling at about 120.50 days in December 2022. The decrease during this period could imply a shift towards more prompt payment policies or improved cash flow management.

During 2023, the days of payables generally hovered around the 124-129 day range, indicating relative stability with slight fluctuations. Specifically, in March 2023, the figure was approximately 121.55 days, increasing slightly to 124.70 days by December 2023. These values suggest a stabilization of payables management, although the company still maintained a relatively extended period before settling liabilities.

In 2024, there is a notable increase, particularly in the June quarter, where days of payables surged to 137.29 days, the highest in the observed period. This escalation could point to strategic shifts, extended credit terms negotiated, or changes in supplier relationships. However, this increase was partially offset by a decrease to approximately 128.91 days at the end of December 2024, and around 129.57 days in March 2025. The ongoing fluctuations imply an active management approach to payables, possibly influenced by external economic factors or internal policy adjustments.

Overall, the trend illustrates periods of both extension and contraction in the company’s payments to suppliers. The longer days during late 2021 and mid-2024 suggest strategic extensions of payment terms, while shorter periods in late 2022 and early 2023 reflect a trend toward more prompt payments. The fluctuations denote active management of cash flows and credit terms, aligning with broader business strategies and external economic conditions.