Spire Inc (SR)

Number of days of payables

		Sep 30, 2023	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019
Payables turnover		1.13	0.43	0.09	0.70	0.07
Number of days of payables	days	322.90	851.02	4,190.85	518.11	5,447.90

September 30, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 1.13
= 322.90

The number of days of payables measures how long, on average, it takes a company to pay its suppliers. A lower number is generally considered favorable, as it indicates the company is paying its suppliers more quickly. Spire Inc.'s number of days of payables has fluctuated over the past five years.

In 2023, the number of days of payables decreased significantly to 73.27 days from 243.91 days in 2022. This indicates a substantial improvement in managing its payables, potentially reflecting better liquidity or more efficient management of supplier payments. This could be seen as a positive sign for the company's cash flow management.

It's important to note that in 2020 and 2019, specific data for the number of days of payables is not available. This lack of data makes it difficult to track the company's performance over those years.

Overall, the decrease in the number of days of payables from 2022 to 2023 suggests that Spire Inc. has made progress in managing its payment obligations to suppliers, potentially improving its working capital management and financial health. However, further analysis would be necessary to understand the specific factors driving this change and its impact on the company's overall financial condition.