Nova Cannabis (TSX:NOVC) Days Payable : 5.76 (As of Mar. 2024)

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What is Nova Cannabis Days Payable?

Nova Cannabis's average Accounts Payable for the three months ended in Mar. 2024 was C$3.1 Mil. Nova Cannabis's Cost of Goods Sold for the three months ended in Mar. 2024 was C$48.5 Mil. Hence, Nova Cannabis's Days Payable for the three months ended in Mar. 2024 was 5.76.

The historical rank and industry rank for Nova Cannabis's Days Payable or its related term are showing as below:

TSX:NOVC' s Days Payable Range Over the Past 10 Years
Min: 4.6 Med: 6.81 Max: 64.94
Current: 4.6

During the past 5 years, Nova Cannabis's highest Days Payable was 64.94. The lowest was 4.60. And the median was 6.81.

TSX:NOVC's Days Payable is ranked worse than
96.62% of 591 companies
in the Healthcare Providers & Services industry
Industry Median: 62.12 vs TSX:NOVC: 4.60

Nova Cannabis's Days Payable increased from Mar. 2023 (3.77) to Mar. 2024 (5.76). It may suggest that Nova Cannabis delayed paying its suppliers.

Nova Cannabis Days Payable Historical Data

The historical data trend for Nova Cannabis's Days Payable can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Nova Cannabis Days Payable Chart

Nova Cannabis Annual Data

Trend

Dec19

Dec20

Dec21

Dec22

Dec23

Days Payable

64.94

7.28

6.81

5.38

4.63

Nova Cannabis Quarterly Data
	Dec19	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Days Payable	Get a 7-Day Free Trial												3.77	-	-	5.55	5.76

Competitive Comparison of Nova Cannabis's Days Payable

For the Pharmaceutical Retailers subindustry, Nova Cannabis's Days Payable, along with its competitors' market caps and Days Payable data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Nova Cannabis's Days Payable Distribution in the Healthcare Providers & Services Industry

For the Healthcare Providers & Services industry and Healthcare sector, Nova Cannabis's Days Payable distribution charts can be found below:

* The bar in red indicates where Nova Cannabis's Days Payable falls into.

Nova Cannabis Days Payable Calculation

Days Payable indicates the number of days that the account payable relative to cost of goods sold the company has. An increase of Days Payable may suggest that the company delays paying its suppliers.

Nova Cannabis's Days Payable for the fiscal year that ended in Dec. 2023 is calculated as

	Days Payable (A: Dec. 2023 )
=	Average Accounts Payable					/	Cost of Goods Sold	*	Days in Period
=	( (Accounts Payable (A: Dec. 2022 )	+	Accounts Payable (A: Dec. 2023 ))	/	count )	/	Cost of Goods Sold (A: Dec. 2023 )	*	Days in Period
=	( (1.955	+	3.059)	/	2 )	/	197.737	*	365
=	2.507					/	197.737	*	365
=	4.63

Nova Cannabis's Days Payable for the quarter that ended in Mar. 2024 is calculated as:

	Days Payable (Q: Mar. 2024 )
=	Average Accounts Payable					/	Cost of Goods Sold	*	Days in Period
=	( (Accounts Payable (Q: Dec. 2023 )	+	Accounts Payable (Q: Mar. 2024 ))	/	count )	/	Cost of Goods Sold (Q: Mar. 2024 )	*	Days in Period
=	( (3.059	+	0)	/	1 )	/	48.475	*	365 / 4
=	3.059					/	48.475	*	365 / 4
=	5.76

Nova Cannabis Days Payable Related Terms

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Nova Cannabis (TSX:NOVC) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Healthcare Providers & Services » Nova Cannabis Inc (TSX:NOVC) » Definitions » Days Payable

Comparable Companies

Traded in Other Exchanges

NVACF:USA 2LK:Germany

Address

101, 17220 Stony Plain Road NW, Edmonton, AB, CAN, T5S 1K6

Website

https://www.novacannabisstore.com

Nova Cannabis Inc is engaged in the operation of retail cannabis stores in Canada. It operates approximately 88 retail cannabis stores in Alberta, 16 in Ontario, and one in Saskatchewan. Some of its brands are Value Buds and Sweet Tree Cannabis Co. The company's products include Dried flowers, Pre-rolls, Candy and Cartridges, among others.

Executives

Cannell Capital Llc

10% Security Holder

Nova Cannabis (TSX:NOVC) Headlines

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