Seagate Technology PLC (STX)
Number of days of payables
| 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 | Jun 30, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Payables turnover | 3.85 | 3.50 | 2.90 | 2.81 | 3.01 | 3.30 | 3.83 | 3.76 | 3.89 | 6.51 | 4.43 | 3.98 | 4.34 | 4.66 | 4.65 | 4.50 | 4.02 | 4.32 | 4.17 | 4.24 | |
| Number of days of payables | days | 94.70 | 104.30 | 125.67 | 129.99 | 121.42 | 110.72 | 95.34 | 96.98 | 93.79 | 56.10 | 82.37 | 91.70 | 84.13 | 78.31 | 78.56 | 81.10 | 90.74 | 84.57 | 87.61 | 86.07 |
March 31, 2025 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 3.85
= 94.70
The analysis of Seagate Technology PLC's number of days of payables over the period from June 30, 2020, to March 31, 2025, reveals notable fluctuations and an overall upward trend.
Initially, the days payable stood at approximately 86 days as of June 30, 2020, with minimal variation through September and December 2020, maintaining around 87 and 85 days, respectively. During the fiscal year 2021, the days payable experienced some volatility, peaking at approximately 90.74 days on March 31, 2021, but generally remained within the 78 to 90-day range.
A downward trend was observed from the second quarter of 2021 through the end of 2022, with the days payable decreasing to a low of approximately 56 days as of December 31, 2022. This suggests that the company was paying its suppliers more promptly during this period.
However, beginning in the first quarter of 2023, there was a consistent and significant increase in the days payable outstanding. The figure rose to over 93 days by March 31, 2023, and escalated further through June and September 2023, reaching approximately 97 and 95 days respectively. The upward trajectory continued sharply into the December 2023 quarter, with the days payable reaching approximately 111 days, the highest within this time frame.
In the subsequent quarters, the days of payables stabilized somewhat but remained elevated relative to earlier years, with a slight decrease to about 104 days by December 2024, and a subsequent decline to approximately 95 days by March 2025.
Overall, the period demonstrates a pattern of initial stability, followed by a substantial and sustained increase in the average number of days the company takes to settle its payables. This escalation may reflect strategic shifts in credit terms, cash flow management practices, or changing relationships with suppliers, warranting further analysis to determine its underlying causes and implications.
Peer comparison
Mar 31, 2025