SPS Commerce Inc (SPSC)

Number of days of payables

		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	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Payables turnover		24.54	28.18	27.20	30.09	13.60	17.95	32.17	28.98	15.81	32.77	19.13	20.91	18.65	19.23	22.33	20.52	21.58	20.50	23.37	18.98
Number of days of payables	days	14.88	12.95	13.42	12.13	26.84	20.34	11.35	12.60	23.09	11.14	19.08	17.45	19.57	18.98	16.34	17.79	16.91	17.81	15.62	19.23

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 24.54
= 14.88

The number of days of payables for SPS Commerce Inc. has fluctuated over the past eight quarters. In Q4 2023, the company took approximately 14.88 days to pay its outstanding liabilities, which was higher compared to the previous quarter but lower than the same period in the prior year. This suggests a possible elongation in payment cycles. However, the company has historically maintained relatively short payment cycles, with Q2 and Q3 of 2022 showing particularly low numbers of days of payables. Overall, a detailed trend analysis and comparison with industry averages would provide further insight into the efficiency of SPS Commerce Inc.'s payables management.