Bio-Techne Corp (TECH)
Number of days of payables
| Jun 30, 2024 | Jun 30, 2023 | Jun 30, 2022 | Jun 30, 2021 | Jun 30, 2020 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 25.82 | 31.80 | 23.54 | 23.42 | 25.00 | |
| Number of days of payables | days | 14.14 | 11.48 | 15.50 | 15.59 | 14.60 |
June 30, 2024 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 25.82
= 14.14
The number of days of payables for Bio-Techne Corp has fluctuated over the past five years. In the most recent fiscal year ending June 30, 2024, the company took an average of 14.14 days to pay its suppliers, which is an increase from the previous year. This indicates that Bio-Techne Corp may be taking slightly longer to settle its payables.
Comparing to the data from June 30, 2023, where the number of days of payables was 11.48 days, there was an uptick in the average number of days it takes for the company to pay its suppliers within a year. However, it is worth noting that the number of days of payables in 2024 is still lower than that of 2022 and 2021, where the company took 15.50 days and 15.59 days, respectively, to pay off its payables.
In general, a lower number of days of payables indicates that a company is more efficient in managing its short-term liabilities by promptly settling its obligations to suppliers. However, an increasing trend in the number of days of payables, as seen in the latest fiscal year for Bio-Techne Corp, may suggest a slower pace in paying off trade payables and could potentially impact the company's relationships with its suppliers.
Peer comparison
Jun 30, 2024