Bio-Techne Corp (TECH)

Number of days of payables

Jun 30, 2025 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
Payables turnover 3.68 13.03 12.35 12.73 10.20 13.24 11.94 13.12 14.29 13.21 14.73 11.56 10.31 11.16 12.36 12.43 10.15 10.74 11.01 9.46
Number of days of payables days 99.26 28.00 29.56 28.66 35.79 27.57 30.56 27.81 25.55 27.64 24.77 31.56 35.41 32.71 29.53 29.37 35.97 33.98 33.16 38.60

June 30, 2025 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 3.68
= 99.26

The analysis of Bio-Techne Corp’s number of days of payables over the specified periods reveals notable fluctuations, with periods of both reduction and significant increase. As of September 30, 2020, the company maintained an average of approximately 38.60 days payable to suppliers. This figure decreased progressively through the first year, reaching a low of 29.37 days by September 30, 2021, indicating an improvement in the company's efficiency or potentially faster payment cycles.

Subsequently, the payable days fluctuated modestly across the next few quarters, maintaining levels generally between 24.77 days and 35.97 days. Notably, the year-end of 2022 experienced the lowest payable period at 24.77 days, suggesting an attempt to optimize cash flow or meet supplier terms more aggressively. Early 2023 showed a slight increase, with the payable days rising to 27.64 days in March and 25.55 days by June, reflecting a stabilization within the typical range.

However, a significant anomaly appears in the data for the fiscal quarter ending June 30, 2025, where the number of days of payables spiked sharply to 99.26 days. This drastic escalation suggests potential changes in payment policies, severe cash flow constraints, disruptions in operations, or special arrangements with suppliers. Prior to this spike, the periods from 2023 onward hovered predominantly between the mid-20s and low-30s, indicative of standard payment cycles aligned with typical supplier terms.

In summary, while Bio-Techne’s payable days generally fluctuated within a healthy and manageable range, the extraordinary increase in June 2025 signifies a significant deviation from historical norms. This outlier warrants further investigation into underlying operational or financial circumstances that may have precipitated such a substantial extension in payment periods.