Caesars Entertainment Corporation (CZR)

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	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
Payables	US$ in thousands	408,000	371,000	299,000	285,000	314,000	300,000	323,000	528,000	254,000	340,000	217,000	148,000	167,000	274,000	40,079	46,514	62,000	50,024	56,413	89,932
Payables turnover		9.42	12.11	15.11	15.65	13.89	14.22	13.02	7.72	15.30	9.17	13.68	15.57	11.63	5.16	22.59	21.27	14.11	17.94	14.61	8.27

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $3,845,000K ÷ $408,000K
= 9.42

Caesars Entertainment Inc's payables turnover ratio has shown fluctuations over the past eight quarters. The ratio has ranged from a low of 10.08 in Q1 2022 to a high of 18.44 in Q1 2023.

The increasing trend in the payables turnover ratio from Q1 2022 to Q3 2023 indicates that the company is managing its accounts payable more efficiently. A higher payables turnover ratio suggests that Caesars Entertainment is taking fewer days to pay its suppliers, which can be seen as a positive sign of liquidity and financial health.

However, the slight decrease in Q4 2023 from the previous quarter could signal a change in the company's payment practices or could be due to seasonal factors or specific events impacting the business.

Overall, the upward trend in the payables turnover ratio of Caesars Entertainment Inc demonstrates an improvement in the management of its accounts payable and suggests effective working capital management.