Unifirst Corporation (UNF)
Number of days of payables
| Aug 31, 2024 | Aug 26, 2023 | Aug 27, 2022 | Aug 28, 2021 | Aug 29, 2020 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 17.08 | 15.97 | 15.91 | 14.03 | 18.19 | |
| Number of days of payables | days | 21.37 | 22.85 | 22.95 | 26.02 | 20.06 |
August 31, 2024 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 17.08
= 21.37
The number of days of payables for Unifirst Corporation has shown a fluctuating trend over the past five years. As of August 31, 2024, the company's number of days of payables stood at 21.37 days, representing a decrease from the previous year. This indicates that Unifirst Corporation takes approximately 21 days to pay off its accounts payable obligations.
Comparing this figure to previous years, we observe a general downward trend in the number of days of payables since 2021 when it peaked at 26.02 days. This suggests that Unifirst Corporation has been improving its efficiency in managing its payables by reducing the time taken to settle its outstanding obligations.
Overall, a lower number of days of payables is generally considered a positive indicator as it reflects a faster turnover of payables, potentially improving liquidity and working capital management for the company.
Peer comparison
Aug 31, 2024