WD-40 Company (WDFC)
Payables turnover
| Aug 31, 2024 | Aug 31, 2023 | Aug 31, 2022 | Aug 31, 2021 | Aug 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 460,295 | 418,724 | 404,147 | 224,370 | 185,481 |
| Payables | US$ in thousands | 35,960 | 30,826 | 32,852 | 33,499 | 21,676 |
| Payables turnover | 12.80 | 13.58 | 12.30 | 6.70 | 8.56 |
August 31, 2024 calculation
Payables turnover = Cost of revenue ÷ Payables
= $460,295K ÷ $35,960K
= 12.80
WD-40 Company's payables turnover ratio has shown fluctuations over the past five years. In 2024, the payables turnover ratio decreased to 12.80 from 13.58 in the previous year. This suggests that WD-40 Company took longer to pay its suppliers in 2024 compared to 2023. However, when comparing to earlier years, the payables turnover in 2024 remains relatively high, indicating efficient management of accounts payable. The trend over the years shows some volatility, with a notable increase from 2021 to 2022 followed by fluctuations in subsequent years. Overall, the company's payables turnover ratio reflects its ability to manage its accounts payable effectively, although there is room for improvement in payables management efficiency.
Peer comparison
Aug 31, 2024