WD-40 Company (WDFC)
Payables turnover
| Aug 31, 2024 | May 31, 2024 | Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | May 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | May 31, 2022 | Feb 28, 2022 | Nov 30, 2021 | Aug 31, 2021 | May 31, 2021 | Feb 28, 2021 | Nov 30, 2020 | Aug 31, 2020 | May 31, 2020 | Feb 29, 2020 | Nov 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 460,043 | 446,354 | 436,230 | 427,098 | 418,724 | 412,107 | 402,368 | 399,960 | 404,147 | 359,582 | 324,868 | 275,119 | 224,370 | 216,982 | 198,232 | 194,781 | 185,481 | 185,133 | 191,842 | 190,572 |
| Payables | US$ in thousands | 35,960 | 32,377 | 32,405 | 28,432 | 30,826 | 26,780 | 28,534 | 31,826 | 32,852 | 40,684 | 39,655 | 35,303 | 33,499 | 31,307 | 27,729 | 24,749 | 21,676 | 17,386 | 24,643 | 18,457 |
| Payables turnover | 12.79 | 13.79 | 13.46 | 15.02 | 13.58 | 15.39 | 14.10 | 12.57 | 12.30 | 8.84 | 8.19 | 7.79 | 6.70 | 6.93 | 7.15 | 7.87 | 8.56 | 10.65 | 7.78 | 10.33 |
August 31, 2024 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $460,043K ÷ $35,960K
= 12.79
The payables turnover ratio for WD-40 Company has varied over the past several periods, ranging from 6.70 to 15.39. The higher the payables turnover ratio, the shorter the average time it takes the company to pay its suppliers. A high payables turnover ratio may indicate that the company is efficiently managing its accounts payable and paying its suppliers promptly.
Looking at the trend, we observe some fluctuations in the payables turnover ratio over time. The ratio has generally been on an upward trend from February 2022 to February 2023, indicating potential improvements in the company's payables management. However, from May 2022 to May 2024, there are some fluctuations in the ratio, suggesting variations in the company's payment practices during these periods.
Overall, the payables turnover ratio for WD-40 Company has shown variations, and it would be important to further investigate the reasons behind these fluctuations to better understand the company's working capital management and supplier payment strategies.
Peer comparison
Aug 31, 2024