JM Smucker Company (SJM)

The data indicates that JM Smucker Company's days of sales outstanding (DSO) experienced relative stability from April 30, 2021, through April 30, 2023, with values ranging from approximately 23.94 days to 25.57 days. Specifically, the DSO decreased slightly from 24.34 days in 2021 to 23.94 days in 2022, suggesting modest improvements in receivables collection efficiency during this period. However, in April 2023, the DSO increased marginally to 25.57 days, reflecting a slight elongation in the time taken to collect receivables.

A notable change occurred between April 30, 2023, and April 30, 2024, when the DSO rose significantly to 32.87 days. This represents an increase of approximately 7.3 days and suggests a deterioration in accounts receivable management or a change in credit policies during this period. Such an increase could indicate longer collection cycles, potential shifts in customer payment behavior, or other operational factors influencing receivables collection.

In the subsequent year, from April 30, 2024, to April 30, 2025, the DSO decreased again, reaching 25.89 days. This decline indicates a partial recovery in receivables collection efficiency, bringing the DSO back to levels comparable with those observed prior to the sharp increase in 2024.

Overall, the trend reflects a period of stability followed by a temporary elongation of receivables collection cycle, and a subsequent partial recovery. The significant increase in DSO observed in 2024 warrants further investigation into the underlying causes, such as changes in credit policies, customer mix, or external economic factors impacting receivables.