Suppliers to JABIL INC now wait 49 days longer to be paid

JABIL INC, an American electronics manufacturer, grew revenue 20.6% to USD 36.0bn in FY2026, the fiscal year that ended in August 2026, in US dollars. Its trade payables grew faster: they rose to USD 14.4bn from USD 7.9bn. Measured in payable days, that is 147 days against 97 days a year earlier, a rise of 49 days. Net profit improved to USD 1.0bn, but cash fell 10.0% to USD 1.7bn. Suppliers financed a good part of the growth.

Payable days rise when a company negotiates longer terms or when it is short of cash and pays late. Both turn suppliers into a free source of financing. The accounts do not say which applies here. Inventories also grew to USD 7.4bn, and equity covers only 5.9% of total assets, so the cushion is thin if suppliers return to their standard terms. I would watch the cash line. A company can borrow from its suppliers for a long time, right up to the day they ask for it back.