Spirit Airlines (Spirit Airlines) Days Payable

: 4.72 (As of Dec. 2023)

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Spirit Airlines's average Accounts Payable for the three months ended in Dec. 2023 was $64 Mil. Spirit Airlines's Cost of Goods Sold for the three months ended in Dec. 2023 was $1,241 Mil. Hence, Spirit Airlines's Days Payable for the three months ended in Dec. 2023 was 4.72.

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

SAVE' s Days Payable Range Over the Past 10 Years
Min: 3.9 Med: 4.66 Max: 6.04
Current: 5.1

During the past 13 years, Spirit Airlines's highest Days Payable was 6.04. The lowest was 3.90. And the median was 4.66.

SAVE's Days Payable is ranked worse than
97.22% of 935 companies
in the Transportation industry
Industry Median: 39.62 vs SAVE: 5.10

Spirit Airlines's Days Payable declined from Dec. 2022 (7.76) to Dec. 2023 (4.72). It may suggest that Spirit Airlines accelerated paying its suppliers.

Spirit Airlines Days Payable Historical Data

The historical data trend for Spirit Airlines'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.

* Premium members only.

Spirit Airlines Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Days Payable

5.68

6.04

4.47

5.10

4.50

Spirit Airlines Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Days Payable																7.76	4.92	5.20	6.16	4.72

Competitive Comparison

For the Airlines subindustry, Spirit Airlines'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.

Spirit Airlines Days Payable Distribution

For the Transportation industry and Industrials sector, Spirit Airlines's Days Payable distribution charts can be found below:

* The bar in red indicates where Spirit Airlines's Days Payable falls into.

Spirit Airlines 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.

Spirit Airlines'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
=	( (75.449	+	42.098)	/	2 )	/	4771.68	*	365
=	58.7735					/	4771.68	*	365
=	4.50

Spirit Airlines's Days Payable for the quarter that ended in Dec. 2023 is calculated as:

	Days Payable (Q: Dec. 2023 )
=	Average Accounts Payable					/	Cost of Goods Sold	*	Days in Period
=	( (Accounts Payable (Q: Sep. 2023 )	+	Accounts Payable (Q: Dec. 2023 ))	/	count )	/	Cost of Goods Sold (Q: Dec. 2023 )	*	Days in Period
=	( (86.297	+	42.098)	/	2 )	/	1241.472	*	365 / 4
=	64.1975					/	1241.472	*	365 / 4
=	4.72

Spirit Airlines Days Payable Related Terms

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Spirit Airlines (Spirit Airlines) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Transportation » Spirit Airlines Inc (NYSE:SAVE) » Definitions » Days Payable

Comparable Companies

Traded in Other Exchanges

SAVE:Mexico S64:Germany S64:Germany

Address

2800 Executive Way, Miramar, FL, USA, 33025

Website

https://www.spirit.com

Spirit Airlines Inc serves the United States, Latin America, and Caribbean as an airline operator. It primarily offers customers unbundled base fares to strip out any unneeded travel amenities. If needed, a customer can elect for additional options at an extra charge. Flight crews are entirely interchangeable across all aircraft, and maintenance and other support services are simplified due to not having an overly complex fleet. The company has one operating segment, air transportation, owing to its system wide route structure. It may decide to expand its network if a market is underserved or overpriced. The majority of revenue is derived from the United States.

Executives

Rocky Wiggins	officer: SVP and CIO	C/O SPIRIT AIRLINES, INC., 2800 EXECUTIVE WAY, MIRAMAR FL 33025
Melinda C Grindle	officer: SVP & CHRO	C/O SPIRIT AIRLINES, INC., 2800 EXECUTIVE WAY, MIRAMAR FL 33025
Robert D Johnson	director	HONEYWELL, 1944 E SKY HARBOR CIRCLE, PHOENIX AZ 85034
Brian J. Mcmenamy	officer: VP & Controller	C/O SPIRIT AIRLINES, INC., 2800 EXECUTIVE WAY, MIRAMAR FL 33025
Laurie Villa	officer: SVP and CHRO	C/O SPIRIT AIRLINES, INC., 2800 EXECUTIVE WAY, MIRAMAR FL 33025
John A. Bendoraitis	officer: EVP and COO	C/O SPIRIT AIRLINES, INC., 2800 EXECUTIVE WAY, MIRAMAR FL 33025
Thomas C Canfield	officer: SVP, GC & Secretary	C/O SPIRIT AIRLINES, INC., 2800 EXECUTIVE WAY, MIRAMAR FL 33025
Kevin Blake Vanier	officer: VP of FP & A	C/O SPIRIT AIRLINES, INC., 2800 EXECUTIVE WAY, MIRAMAR FL 33025
Christine P Richards	director	942 SOUTH SHADY GROVE ROAD, MEMPHIS TN 38120
Mark B Dunkerley	director
H. Mcintyre Gardner	director	C/O SPIRIT AIRLINES, 2800 EXECUTIVE WAY, MIRAMAR FL 33025
Christie Edward M Iii	officer: Chief Financial Officer	S/O SPIRIT AIRLINES, INC., 2800 EXECUTIVE WAY, MIRAMAR FL 33025
Robert L Fornaro	director	C/O SPIRIT AIRLINES, INC., 2800 EXECUTIVE WAY, MIRAMAR FL 33025
Matthew H Klein	officer: SVP and CCO	C/O SPIRIT AIRLINES, INC., 2800 EXECUTIVE WAY, MIRAMAR FL 33025
Dawn M. Zier	director	600 OFFICE CENTER DRIVE, FORT WASHINGTON PA 19034