Veritec (Veritec) Days Payable : 887.48 (As of Dec. 2023)

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What is Veritec Days Payable?

Veritec's average Accounts Payable for the three months ended in Dec. 2023 was $0.30 Mil. Veritec's Cost of Goods Sold for the three months ended in Dec. 2023 was $0.03 Mil. Hence, Veritec's Days Payable for the three months ended in Dec. 2023 was 887.48.

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

VRTC' s Days Payable Range Over the Past 10 Years
Min: 484.36 Med: 885.84 Max: 1221.88
Current: 580.86

During the past 13 years, Veritec's highest Days Payable was 1221.88. The lowest was 484.36. And the median was 885.84.

VRTC's Days Payable is ranked better than
93.44% of 2529 companies
in the Software industry
Industry Median: 50.36 vs VRTC: 580.86

Veritec's Days Payable increased from Dec. 2022 (560.81) to Dec. 2023 (887.48). It may suggest that Veritec delayed paying its suppliers.

Veritec Days Payable Historical Data

The historical data trend for Veritec'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.

Veritec Days Payable Chart

Veritec Annual Data

Trend

Jun14

Jun15

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Days Payable

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1,101.35

1,221.88

1,134.46

882.24

484.36

Veritec Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Days Payable	Get a 7-Day Free Trial															560.81	372.60	655.44	643.10	887.48

Competitive Comparison of Veritec's Days Payable

For the Software - Application subindustry, Veritec'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.

Veritec's Days Payable Distribution in the Software Industry

For the Software industry and Technology sector, Veritec's Days Payable distribution charts can be found below:

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

Veritec 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.

Veritec's Days Payable for the fiscal year that ended in Jun. 2023 is calculated as

	Days Payable (A: Jun. 2023 )
=	Average Accounts Payable					/	Cost of Goods Sold	*	Days in Period
=	( (Accounts Payable (A: Jun. 2022 )	+	Accounts Payable (A: Jun. 2023 ))	/	count )	/	Cost of Goods Sold (A: Jun. 2023 )	*	Days in Period
=	( (0.271	+	0.289)	/	2 )	/	0.211	*	365
=	0.28					/	0.211	*	365
=	484.36

Veritec'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
=	( (0.303	+	0.3)	/	2 )	/	0.031	*	365 / 4
=	0.3015					/	0.031	*	365 / 4
=	887.48

Veritec Days Payable Related Terms

Thank you for viewing the detailed overview of Veritec's Days Payable provided by GuruFocus.com. Please click on the following links to see related term pages.

Veritec (Veritec) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Software » Veritec Inc (OTCPK:VRTC) » Definitions » Days Payable

Comparable Companies

Traded in Other Exchanges

N/A

Address

12445 Winnetka Avenue North, Golden Valley, MN, USA, 55427

Website

https://www.veritecinc.com

Veritec Inc is engaged in the development, marketing, sales, and licensing of products and rendering of professional services. The company renders professional services related to mobile banking technology. Its mobile banking technology is used to offer Prepaid Card Programs to sponsor banks and approved applicants/cardholders. The products and services offered by the company include MTC Debit Card - Visa Prepaid Card Programs, blinx ON-OFF Debit Card - Visa Prepaid Card Programs, Custom Branded Debit Card Programs, and blinxPay Mobile Wallet App. Geographically, it derives revenue from the United States.

Executives

Matthews Group, Llc	10 percent owner	2445 WINNETKA AVENUE, GOLDEN VALLEY MN 55427
Van Thuy Tran	director, 10 percent owner, officer: CEO & President	2445 WINNETKA AVENUE, GOLDEN VALLEY MN 55427
Lawrence J Johanns	10 percent owner	2445 WINNETKA AVENUE, GOLDEN VALLEY MN 55427
Laird E. Powers	director	530 HAWTHORNE COURT, LOS ALTOS CA 94024
David Christopher Reiling	director	4516 FREMONT AVENUE SOUTH, MINNEAPOLIS MN 55419
Robert W Junghans	director	2 SKILLMAN LANE, NORTH OAKS MN 55127
Jeffrey J Hattara	officer: Chief Executive Officer	319 BARRY AVENUE SOUTH, SUITE 300, WAYZATA MN 55391
Gerald David Fors	officer: CFO	7321-15TH AVE. SO., RICHFIELD MN 55423
Larry Matthews	director	7601 5TH AVE., RICHFIELD MN 55423
Charles E Boyer	director

Veritec (Veritec) Headlines

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