Boyd Gaming Corporation (BYD)
Payables turnover
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 593,820 | 488,452 | 487,033 | 483,625 | 506,105 | 519,884 | 512,518 | 507,329 | 507,278 | 504,916 | 500,740 | 470,535 | 667,556 | 685,491 | 780,499 | 904,983 | 736,152 | -120,992 | 141,661 | 397,130 |
| Payables | US$ in thousands | 124,668 | 105,664 | 96,883 | 99,622 | 129,946 | 100,277 | 87,443 | 84,974 | 102,031 | 83,629 | 81,471 | 70,898 | 96,863 | 67,383 | 101,311 | 77,038 | 91,003 | 87,323 | 99,841 | 119,549 |
| Payables turnover | 4.76 | 4.62 | 5.03 | 4.85 | 3.89 | 5.18 | 5.86 | 5.97 | 4.97 | 6.04 | 6.15 | 6.64 | 6.89 | 10.17 | 7.70 | 11.75 | 8.09 | -1.39 | 1.42 | 3.32 |
December 31, 2023 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $593,820K ÷ $124,668K
= 4.76
Boyd Gaming Corp.'s payables turnover has been consistently fluctuating over the past eight quarters, ranging from a low of 12.05 in Q4 2022 to a high of 17.47 in Q1 2022. The payables turnover ratio reflects the company's efficiency in managing its accounts payable by paying off its suppliers. A higher payables turnover ratio indicates that the company is paying off its suppliers more frequently within a given period.
The increasing trend in payables turnover from Q4 2022 to Q2 2023 suggests that Boyd Gaming Corp. has been managing its accounts payable more efficiently during this period. However, the slight decrease observed in Q3 and Q4 2023 compared to the peak in Q2 2023 indicates a potential slowdown in this efficiency.
It is important for Boyd Gaming Corp. to closely monitor its payables turnover ratio to ensure that it strikes a balance between managing its cash flow effectively and maintaining good relationships with its suppliers. Any significant deviations in the payables turnover ratio may warrant further analysis to understand the underlying reasons and take appropriate measures to optimize working capital management.
Peer comparison
Dec 31, 2023