Caesars Entertainment Corporation (CZR)
Payables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 3,627,000 | 4,363,000 | 3,901,000 | 1,913,000 | 874,545 |
| Payables | US$ in thousands | 408,000 | 314,000 | 254,000 | 167,000 | 62,000 |
| Payables turnover | 8.89 | 13.89 | 15.36 | 11.46 | 14.11 |
December 31, 2023 calculation
Payables turnover = Cost of revenue ÷ Payables
= $3,627,000K ÷ $408,000K
= 8.89
Caesars Entertainment Inc's payables turnover has displayed fluctuations over the past five years. The ratio declined from 19.15 in 2019 to 10.72 in 2020 before experiencing an upward trend in subsequent years. In 2021, the payables turnover increased to 18.30, followed by a further rise to 17.20 in 2022, and 13.22 in 2023. This indicates that the company is taking longer to pay its suppliers in recent years compared to earlier periods. A lower payables turnover could suggest potential liquidity issues or deliberate efforts to better manage cash flows. Further analysis would be necessary to determine the reasons behind these changes and evaluate the overall efficiency of Caesars Entertainment Inc's accounts payable management.
Peer comparison
Dec 31, 2023