Cactus Inc (WHD)

Number of days of payables

		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	Jun 30, 2019
Payables turnover		2.39	2.20	1.96	1.80	1.61	1.57	1.03	1.06	1.12	1.25	1.19	1.43	2.18	2.53	3.15	4.21	1.79	1.43	1.33	1.08
Number of days of payables	days	152.76	165.93	185.89	202.73	227.22	231.75	352.91	344.87	325.60	290.93	307.49	256.07	167.33	144.27	115.89	86.64	204.36	255.78	274.89	337.50

March 31, 2024 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 2.39
= 152.76

The number of days of payables for Cactus Inc has fluctuated over the historical period, ranging from a low of 86.64 days to a high of 352.91 days. The trend indicates that the company's payables are being settled within a range of approximately three to twelve months.

A longer number of days of payables suggests that Cactus Inc takes more time to pay its suppliers and vendors, potentially indicating either favorable credit terms or liquidity constraints. Conversely, a shorter number of days of payables may indicate efficient cash management practices or stricter payment terms negotiated with suppliers.

The significant variations in the number of days of payables over time may reflect changes in the company's financial position, business operations, or management's strategic decisions regarding working capital management. Analyzing this data in conjunction with other financial ratios and metrics can provide a more comprehensive understanding of Cactus Inc's performance and financial health.