John Wiley & Sons (WLY)
Cash conversion cycle
| Apr 30, 2025 | Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | Jan 31, 2021 | Oct 31, 2020 | Jul 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Days of inventory on hand (DOH) | days | 18.79 | 19.65 | 18.92 | 16.51 | 15.78 | 16.08 | 16.64 | 16.36 | 16.20 | 17.16 | 17.85 | 17.21 | 19.06 | 21.27 | 21.76 | 22.81 | 24.83 | 24.43 | 25.48 | 27.74 |
| Days of sales outstanding (DSO) | days | 49.70 | 39.57 | 37.96 | 38.41 | 43.69 | 30.44 | 27.40 | 28.23 | 56.04 | 50.77 | 45.98 | 49.34 | 58.17 | 47.17 | 52.21 | 51.97 | 58.57 | 54.16 | 53.51 | 56.04 |
| Number of days of payables | days | 50.07 | 41.33 | 28.17 | 24.68 | 33.50 | 25.50 | 26.79 | 23.62 | 44.44 | 16.76 | 23.97 | 29.19 | 40.34 | 41.09 | 28.08 | 35.13 | 55.91 | 43.79 | 33.17 | 32.36 |
| Cash conversion cycle | days | 18.42 | 17.89 | 28.71 | 30.24 | 25.97 | 21.02 | 17.25 | 20.98 | 27.79 | 51.17 | 39.87 | 37.36 | 36.89 | 27.35 | 45.89 | 39.64 | 27.49 | 34.79 | 45.81 | 51.42 |
April 30, 2025 calculation
Cash conversion cycle = DOH + DSO – Number of days of payables
= 18.79 + 49.70 – 50.07
= 18.42
The cash conversion cycle (CCC) of John Wiley & Sons has demonstrated notable fluctuations over the observed period from July 2020 to April 2025. Initially, the CCC was recorded at approximately 51.42 days in July 2020, indicating a moderate level of efficiency in managing receivables, inventory, and payables. Over the subsequent months, the cycle generally trended downward, reaching its lowest point of 17.25 days in October 2023, suggesting improved operational efficiency and a shorter duration between cash outflows and inflows.
This decline reflects enhancements in the company's management of receivables and payables, alongside optimized inventory turnover. Notably, the CCC experienced a significant reduction from over 50 days in mid-2020 to below 20 days by late 2023. This improvement indicates that the company has become more effective at converting its investments in inventory and receivables into cash, while also managing its payables more efficiently.
However, the cycle has shown some variability in the subsequent periods. For instance, the CCC increased slightly to around 30.24 days in July 2024, before decreasing again to approximately 28.71 days in October 2024. More recently, the cycle reverted to lower figures, reaching 17.89 days in January 2025, with a slight increase thereafter.
Overall, the trend suggests a strategic move toward a more efficient working capital cycle, with the company increasingly reducing the duration it takes to convert investments in inventory and receivables into cash. These improvements enhance liquidity management and reduce operational risks associated with cash flow timing. The observed fluctuations, while normal, do not diminish the overarching trend of enhanced operational efficiency over the analyzed period.
Peer comparison
Apr 30, 2025