Worthington Industries Inc (WOR)
Number of days of payables
| May 31, 2025 | Feb 28, 2025 | Nov 30, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Payables turnover | 8.09 | 10.14 | 10.58 | 19.86 | 30.12 | 32.15 | 7.18 | 6.30 | 28.10 | 8.03 | 10.59 | 8.66 | 6.77 | 5.44 | 5.39 | 4.34 | 4.73 | 5.58 | 6.97 | 8.39 | |
| Number of days of payables | days | 45.13 | 36.00 | 34.50 | 18.38 | 12.12 | 11.35 | 50.83 | 57.95 | 12.99 | 45.46 | 34.45 | 42.15 | 53.89 | 67.13 | 67.77 | 84.14 | 77.22 | 65.45 | 52.37 | 43.53 |
May 31, 2025 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 8.09
= 45.13
The data indicates that Worthington Industries Inc.'s number of days of payables has experienced notable fluctuations over the reported periods. Starting at approximately 43.53 days at the end of August 2020, the payable period progressively increased, reaching a peak of approximately 84.14 days by August 2021. This suggests a trend of extending payment terms to suppliers during this period, potentially aligning with strategic cash management or supply chain considerations.
Subsequently, the days of payables demonstrated a declining trend, decreasing to around 34.45 days by November 2022, which may signify a phase of shortening payment cycles, possibly to optimize working capital or respond to supplier credit terms.
A sharp reductions are observed in the early months of 2023, with the payables dropping to approximately 12.99 days in May 2023—indicating a significant acceleration in payments or changes in payment policies or supplier agreements. However, this decrease was followed by an increase to about 57.95 days in August 2023, before fluctuating around 50.83 days in November 2023, and further declining to approximately 11.35 days by February 2024.
The subsequent periods show continued fluctuations, with payables stabilizing somewhat at around 12.12 days in May 2024 before increasing slightly to 18.38 days in August 2024, then decreasing again to 34.50 days in November 2024, and gradually increasing to 45.13 days by May 2025.
Overall, these variations reflect dynamic management of payment obligations, likely influenced by operational strategies, supplier relationships, and broader financial considerations. The pattern of extending and shortening payables suggests an adaptive approach to optimize liquidity and working capital management across different periods.
Peer comparison
May 31, 2025