QuinStreet Inc (QNST)

Number of days of payables

		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
Payables turnover		15.79	16.65	15.21	11.62	11.77	12.46	15.02	15.08	14.03	13.25	13.96	12.66	12.46	13.27	13.35	10.90	11.23	12.06	12.24	9.39
Number of days of payables	days	23.12	21.92	24.00	31.42	31.02	29.30	24.30	24.20	26.02	27.54	26.16	28.82	29.30	27.51	27.35	33.48	32.50	30.27	29.82	38.87

June 30, 2025 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 15.79
= 23.12

The analysis of QuinStreet Inc’s accounts payable turnover over the specified periods reveals variability in the number of days the company takes to settle its payables. Starting from September 30, 2020, the days payable was approximately 38.87 days, indicating a relatively extended period of approximately 39 days to fulfill obligations. Over the subsequent periods, there was a generally decreasing trend, with the lowest point observed on December 31, 2024, at 24.00 days. Notably, this suggests that the company has been improving its payable management, reducing the time it delays payments to suppliers.

The fluctuations observed include a peak of around 38.87 days in September 2020, followed by a gradual decline through 2021 and into 2022, with intermittent minor increases. For example, the days of payables dipped to nearly 27.35 days by December 2021 and hovered around 26 to 29 days through 2022. The downward trend continued into 2023, with the days decreasing further to approximately 24.20 days in September 2023, indicating a tighter payable cycle. In 2024, the days of payables reached as low as 24.00 days in December, then increased slightly to 29.30 days in March 2024 before rising again to approximately 31 days by June 2024 and September 2024. The latest data presented shows a reduction to 24.00 days in December 2024, with subsequent figures indicating some variability but remaining within the mid-20s to low-30s days range.

Overall, the company’s accounts payable days have demonstrated a trend toward shorter payment periods in recent periods, possibly reflecting efforts to optimize cash flow management or responding to market or supplier relationship considerations. This pattern indicates a movement toward quicker settlement of obligations, which can be associated with improved liquidity or strategic financial management.