Boyd Gaming Corporation (BYD)

Number of days of payables

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Payables turnover		5.78	4.91	6.29	8.32	8.09
Number of days of payables	days	63.13	74.36	58.00	43.86	45.12

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 5.78
= 63.13

Boyd Gaming Corp.'s number of days of payables has fluctuated over the past five years, ranging from a low of 19.13 days in 2019 to a high of 34.09 days in 2020. The company has shown an improvement in managing its payables since 2019, with a decreasing trend through 2023. A lower number of days of payables typically indicates that the company is taking less time to pay its suppliers, which can be a sign of stronger cash flow management or potentially more favorable credit terms. This trend suggests that Boyd Gaming Corp. may be optimizing its working capital efficiency by effectively managing its payables over the years. However, it is important to consider industry benchmarks and specific business circumstances when interpreting this ratio.