Progress Software Corporation (PRGS)

Number of days of payables

		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	May 31, 2020	Feb 29, 2020	Nov 30, 2019	Aug 31, 2019	May 31, 2019
Payables turnover		13.42	10.23	13.34	14.98	9.32	10.18	11.93	8.91	10.41	8.10	11.34	6.19	6.45	6.23	10.15	8.02	7.25	7.10	10.35	7.03
Number of days of payables	days	27.19	35.67	27.36	24.36	39.17	35.85	30.60	40.99	35.08	45.05	32.19	59.00	56.55	58.63	35.98	45.49	50.32	51.44	35.28	51.92

February 29, 2024 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 13.42
= 27.19

Progress Software Corporation's number of days of payables has varied over the past few years, ranging from a low of 24.36 days to a high of 59.00 days. The trend seems to be fluctuating, with some periods showing shorter payment cycles while others reflect longer payment cycles.

The average number of days of payables over the periods provided is approximately 40 days. This indicates that on average, Progress Software takes around 40 days to pay its suppliers and creditors. A lower number of days of payables suggests that the company is paying its obligations more quickly, while a higher number indicates that the company is taking longer to settle its payables.

It is important to consider the reasons behind these fluctuations in the number of days of payables and whether there are any notable patterns or events impacting Progress Software's payment practices. Additionally, comparing the company's payables turnover ratio with industry benchmarks can provide further insights into its efficiency in managing payables.