FOMI (Formation Minerals) Days Payable: 16,972.50 (As of Jan. 2025)


What is Formation Minerals Days Payable?

Formation Minerals FOMI Days Payable is 16,972.50 as of Jan. 2025.

Formation Minerals's average Accounts Payable for the three months ended in Jan. 2025 was $2.60 Mil. Formation Minerals's Cost of Goods Sold for the three months ended in Jan. 2025 was $0.01 Mil. Hence, Formation Minerals's Days Payable for the three months ended in Jan. 2025 was 16,972.50.

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

FOMI's Days Payable is not ranked *
in the Oil & Gas industry.
Industry Median: 57.95
* Ranked among companies with meaningful Days Payable only.

Formation Minerals's Days Payable increased from Jan. 2024 (594.60) to Jan. 2025 (16,972.50). It may suggest that Formation Minerals delayed paying its suppliers.

Formation Minerals Days Payable Historical Data

* Premium members only.

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.

Formation Minerals Days Payable Chart

Formation Minerals Annual Data
Trend Apr21 Apr22 Apr23 Apr24
Days Payable
0.00 0.00 0.00 0.00

Formation Minerals Quarterly Data
Jan21 Apr21 Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24 Apr24 Jul24 Oct24 Jan25
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 Premium Member Only Premium Member Only 594.60 0.00 5,363.47 5,498.46 16,972.50

FOMI vs AVACF, COP, EOG: Days Payable Comparison

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 Days Payable vs 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 Jan. 2025 is calculated as:

Days Payable (Q: Jan. 2025 )
=Average Accounts Payable / Cost of Goods Sold*Days in Period
=( (Accounts Payable (Q: Oct. 2024 ) + Accounts Payable (Q: Jan. 2025 )) / count ) / Cost of Goods Sold (Q: Jan. 2025 )*Days in Period
=( (2.438 + 2.77) / 2 ) / 0.014*365 / 4
=2.604 / 0.014*365 / 4
=16,972.50

* 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.

Frequently Asked Questions Learn more about Days Payable →
What does a Days Payable of 16,972.50 mean?
Formation Minerals (FOMI) has a Days Payable of 16,972.50 as of Jan. 2025. Days payable represents the average amount of days a company waits to pay its invoices from suppliers. View historical data on Formation Minerals and its competitors.
Is Formation Minerals' Days Payable too high?
Formation Minerals' current Days Payable is 16,972.50. The Oil & Gas industry median Days Payable is 57.95. Formation Minerals' value of 16,972.50 is 29188.2% above this industry median.
How does Formation Minerals' Days Payable compare to AVACF and COP?
Formation Minerals' Days Payable of 16,972.50 can be compared against companies in the Oil & Gas industry. The industry median Days Payable is 57.95. Formation Minerals' value of 16,972.50 is 29188.2% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Days Payable for an Oil & Gas company?
The median Days Payable among Oil & Gas companies is 57.95, based on 851 companies in the industry. Companies in the top quartile (top 25%) have a Days Payable significantly above this median, while those in the bottom quartile fall well below. However, Days Payable should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Formation Minerals's current Days Payable of 16,972.50 is 29188.2% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Days Payable mean?
A high Days Payable can signal that a stock is expensive relative to its fundamentals. Days payable represents the average amount of days a company waits to pay its invoices from suppliers. View historical data on Formation Minerals and its competitors. For the Oil & Gas industry, the median Days Payable is 57.95 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Formation Minerals's current Days Payable is 16,972.50. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Formation Minerals stock overvalued right now?
Formation Minerals (FOMI) has a current Days Payable of 16,972.50. The current Days Payable is 16,972.50 and 29188.2% above the Oil & Gas industry median of 57.95. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Days Payable calculated?
Days Payable is calculated from a company's financial statements. For Formation Minerals (FOMI), the current Days Payable is 16,972.50 as of Jan. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Formation Minerals Business Description

Industry EnergyOil & Gas
Address P.O. Box 67, Jacksboro, TX, USA, 76458
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.