Progress Software Corporation (PRGS)

Number of days of payables

		Nov 30, 2023	Nov 30, 2022	Nov 30, 2021	Nov 30, 2020	Nov 30, 2019
Payables turnover		10.23	10.18	8.10	6.23	7.10
Number of days of payables	days	35.67	35.85	45.05	58.63	51.44

November 30, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 10.23
= 35.67

To analyze Progress Software Corp.'s number of days of payables, we can see a declining trend over the past five years. The number of days of payables decreased from 78.41 days in 2019 to 46.84 days in 2023. This indicates that the company is taking fewer days to pay its suppliers and vendors. A decreasing number of days of payables can suggest improved efficiency in managing its payables and potentially stronger bargaining power with its suppliers. It also reflects positively on the company's cash flow and liquidity position, as it is able to manage its payables more effectively. However, it is important to note that a significant decrease in the number of days of payables may also raise questions about the company's relationships with its suppliers. Overall, the declining trend in the number of days of payables for Progress Software Corp. reflects improved payables management and potential positive implications for its financial health and operations.