Progress Software Corporation (PRGS)

Number of days of payables

		Nov 30, 2024	Nov 30, 2023	Nov 30, 2022	Nov 30, 2021	Nov 30, 2020
Payables turnover		9.38	10.23	10.18	8.10	6.23
Number of days of payables	days	38.91	35.67	35.85	45.05	58.63

November 30, 2024 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 9.38
= 38.91

Progress Software Corporation's number of days of payables has shown a consistent downward trend over the past five years, dropping from 58.63 days as of November 30, 2020, to 38.91 days as of November 30, 2024. This indicates that the company is taking fewer days to pay its suppliers and vendors, which could be a positive sign of improved efficiency in managing its accounts payable. A decrease in the number of days of payables typically suggests that the company is paying off its debts more promptly or negotiating better terms with its suppliers. It is important to note that a lower number of days of payables may also indicate a higher liquidity position or stronger cash flow. Overall, the decreasing trend in Progress Software Corporation's number of days of payables reflects a potentially positive financial indicator for the company.