Bio-Techne Corp (TECH)

Number of days of payables

		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	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019
Payables turnover		17.74	29.37	26.27	27.99	30.29	30.33	36.26	30.69	27.15	28.08	29.23	27.17	22.37	20.57	20.81	17.64	20.52	24.05	24.56	32.79
Number of days of payables	days	20.58	12.43	13.89	13.04	12.05	12.03	10.07	11.89	13.44	13.00	12.49	13.44	16.31	17.75	17.54	20.69	17.79	15.17	14.86	11.13

June 30, 2024 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 17.74
= 20.58

The number of days of payables for Bio-Techne Corp has shown some fluctuations over the past few quarters. On average, the number of days of payables has been around 13 to 15 days, indicating that the company takes approximately two weeks to pay its suppliers.

In the most recent quarter as of June 30, 2024, the number of days of payables increased to 20.58 days, which suggests that the company took slightly longer to pay its suppliers compared to the previous quarter. This increase could be due to various factors such as changes in payment terms with suppliers, business operations, or cash flow management.

It is important to monitor the trend in the number of days of payables over time to assess the efficiency of the company's working capital management and its relationships with suppliers. Fluctuations in this ratio can provide insight into the company's financial health and liquidity position.