Caesars Entertainment Corporation (CZR)

Inventory 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	3,845,000	4,492,000	4,517,000	4,460,000	4,363,000	4,266,000	4,204,000	4,074,000	3,886,000	3,117,000	2,969,000	2,303,785	1,941,785	1,412,667	905,410	989,392	874,545	897,492	824,332	743,362
Inventory	US$ in thousands	46,000	45,000	53,000	57,000	59,000	46,000	47,000	44,000	42,000	45,000	41,000	41,000	44,000	49,000	17,369	17,070	18,000	17,684	19,016	20,775
Inventory turnover		83.59	99.82	85.23	78.25	73.95	92.74	89.45	92.59	92.52	69.27	72.41	56.19	44.13	28.83	52.13	57.96	48.59	50.75	43.35	35.78

December 31, 2023 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $3,845,000K ÷ $46,000K
= 83.59

Caesars Entertainment Inc's inventory turnover has varied over the past eight quarters. The company experienced a peak in inventory turnover in Q3 2022 at 122.22, followed by relatively high turnover rates in Q4 2023 and Q3 2023 at 117.28 and 118.09, respectively. This indicates that Caesars is efficiently managing its inventory levels during these periods and converting its inventory into sales at a rapid pace.

However, there was a notable decrease in inventory turnover in Q1 2023 compared to the previous quarters, with a turnover of 92.19. This suggests that Caesars may have had excess inventory or faced challenges in selling its products during this period.

Overall, Caesars Entertainment Inc has shown strong inventory turnover performance, with generally high turnover rates in the past eight quarters. This indicates effective inventory management practices, which can lead to improved cash flow and profitability for the company.