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FOMI (Formation Minerals) Days Payable : 5,363.47 (As of Jul. 2024)


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What is Formation Minerals Days Payable?

Formation Minerals's average Accounts Payable for the three months ended in Jul. 2024 was $1.06 Mil. Formation Minerals's Cost of Goods Sold for the three months ended in Jul. 2024 was $0.02 Mil. Hence, Formation Minerals's Days Payable for the three months ended in Jul. 2024 was 5,363.47.

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

FOMI' s Days Payable Range Over the Past 10 Years
Min: 0   Med: 0   Max: 14040.33
Current: 14040.33

During the past 4 years, Formation Minerals's highest Days Payable was 14040.33. The lowest was 0.00. And the median was 0.00.

FOMI's Days Payable is ranked better than
98.52% of 879 companies
in the Oil & Gas industry
Industry Median: 60.34 vs FOMI: 14040.33

Formation Minerals's Days Payable increased from Jul. 2023 (683.74) to Jul. 2024 (5,363.47). It may suggest that Formation Minerals delayed paying its suppliers.

Formation Minerals Days Payable Historical Data

The historical data trend for Formation Minerals'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.

Formation Minerals Days Payable Chart

Formation Minerals Annual Data
Trend Apr21 Apr22 Apr23 Apr24
Days Payable
- - - -

Formation Minerals Quarterly Data
Jan21 Apr21 Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24 Apr24 Jul24
Days Payable Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 683.74 - - - 5,363.47

Competitive Comparison of Formation Minerals's Days Payable

For the Oil & Gas E&P subindustry, Formation Minerals'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.

Formation Minerals's Days Payable Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Formation Minerals's Days Payable distribution charts can be found below:

* The bar in red indicates where Formation Minerals's Days Payable falls into.


Formation Minerals 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.

Formation Minerals's Days Payable for the fiscal year that ended in Apr. 2024 is calculated as

Days Payable (A: Apr. 2024 )
=Average Accounts Payable /Cost of Goods Sold*Days in Period
=( (Accounts Payable (A: Apr. 2023 ) + Accounts Payable (A: Apr. 2024 )) / count ) / Cost of Goods Sold (A: Apr. 2024 )*Days in Period
=( (0.541 + 0.336) / 2 ) / 0*365
=0.4385 / 0*365
=N/A

Formation Minerals's Days Payable for the quarter that ended in Jul. 2024 is calculated as:

Days Payable (Q: Jul. 2024 )
=Average Accounts Payable / Cost of Goods Sold*Days in Period
=( (Accounts Payable (Q: Apr. 2024 ) + Accounts Payable (Q: Jul. 2024 )) / count ) / Cost of Goods Sold (Q: Jul. 2024 )*Days in Period
=( (0.336 + 1.78) / 2 ) / 0.018*365 / 4
=1.058 / 0.018*365 / 4
=5,363.47

* 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.

Formation Minerals Days Payable Related Terms

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Formation Minerals Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Formation Minerals Inc (OTCPK:FOMI) » Definitions » Days Payable
Comparable Companies
Traded in Other Exchanges
N/A
Address
P.O. Box 67, Jacksboro, TX, USA, 76458
Website
https://www.formationminerals.com
Formation Minerals Inc is engaged in the acquisition and management of high-growth oil and gas minerals and royalties in the U.S. basins. The company is focused on providing returns through asset growth generated by acquisitions and organic growth of properties. Its portfolio includes the DJ Basin of Colorado and Wyoming, the Haynesville Shale of Louisiana, the Delaware and Permian Basin of Texas, the Marcellus and Utica shales in West Virginia, and the Anadarko Basin in Oklahoma.
Executives
Erik Savenstrand director 505 PARK AVENUE, 4TH FLOOR, NEW YORK NY 10022
John Damien Trainor director, 10 percent owner, officer: Chief Executive Officer 505 PARK AVENUE, 4TH FLOOR, NEW YORK NY 10022