Caesars Entertainment Corporation (CZR)

Activity ratios

Short-term

Turnover ratios

Dec 31, 2024 Sep 30, 2024 Mar 31, 2024 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
Inventory turnover 84.07 84.26 85.27 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
Receivables turnover 21.32 20.58 16.44 14.81 16.06 16.75 16.18 13.91 16.40 16.19 16.96 14.88 14.96 14.82 11.76 9.53 6.48 36.68 48.51 40.40
Payables turnover 12.78 13.52 8.55 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
Working capital turnover — — — — — — — — — 2,666.67 — 10.53 6.92 7.21 1.08 1.03 0.71 1.56 4.57 —

Caesars Entertainment Corporation's inventory turnover ratio has shown fluctuating trends over the periods analyzed, ranging from a low of 28.83 to a high of 99.82, with an average of approximately 68. This indicates that the company efficiently managed its inventory levels to generate sales during the periods.

In terms of receivables turnover, the company has seen considerable variability in its ratios, with values ranging from 6.48 to 21.32. This suggests that Caesars may have faced challenges in efficiently collecting receivables, especially during the earlier periods under review.

The payables turnover ratio for Caesars Entertainment Corporation also exhibits fluctuations, with values ranging from 5.16 to 21.27. The company's ability to manage its payables effectively has varied over the years, impacting its overall working capital management.

The working capital turnover ratio for Caesars showed significant changes, with values ranging from 0.71 to 2,666.67 for the periods analyzed. This large variation may indicate adjustments in working capital management strategies or unusual business circumstances that affected the company's operations.

Overall, the activity ratios of Caesars Entertainment Corporation reflect a mix of efficiency and challenges in managing its inventory, receivables, payables, and working capital throughout the periods under review.

Average number of days

Dec 31, 2024 Sep 30, 2024 Mar 31, 2024 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
Days of inventory on hand (DOH) days 4.34 4.33 4.28 4.37 3.66 4.28 4.66 4.94 3.94 4.08 3.94 3.94 5.27 5.04 6.50 8.27 12.66 7.00 6.30 7.51
Days of sales outstanding (DSO) days 17.12 17.74 22.20 24.65 22.73 21.80 22.55 26.25 22.26 22.54 21.52 24.53 24.39 24.62 31.03 38.32 56.34 9.95 7.52 9.03
Number of days of payables days 28.56 27.00 42.71 38.73 30.15 24.16 23.32 26.27 25.67 28.04 47.30 23.86 39.81 26.68 23.45 31.39 70.80 16.16 17.16 25.88

Caesars Entertainment Corporation's activity ratios provide insights into how efficiently the company manages its inventory, collects receivables, and pays its payables.

1. Days of Inventory on Hand (DOH):
- The DOH measures how quickly the company sells its inventory. A lower DOH indicates that inventory is moving at a faster rate, which is generally favorable.
- Caesars' DOH fluctuated over the years, ranging from 3.94 days to 12.66 days. The trend shows a general decrease in DOH, implying an improvement in inventory management efficiency.

2. Days of Sales Outstanding (DSO):
- DSO reveals the average number of days it takes for the company to collect payment from credit sales. A lower DSO suggests efficient collection practices.
- Caesars' DSO varied between 7.52 days and 56.34 days. The company significantly reduced its DSO over time, indicating a more effective credit and collection system.

3. Number of Days of Payables:
- This ratio highlights the average number of days the company takes to pay its suppliers. A longer period indicates the company may be conserving cash by delaying payments.
- The number of days of payables for Caesars ranged from 16.16 days to 70.80 days. The variability in payables days suggests changes in the company's payment policies.

In summary, Caesars Entertainment Corporation has shown improvements in its inventory turnover, receivables collection, and payables management over the years. These trends indicate enhanced operational efficiency and effective working capital management within the company.

Long-term

Dec 31, 2024 Sep 30, 2024 Mar 31, 2024 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
Fixed asset turnover 0.68 0.65 0.61 0.61 0.61 0.60 0.60 0.58 0.57 0.55 0.52 0.48 0.45 0.43 0.31 27.99 0.19 0.68 0.88 0.89
Total asset turnover 0.31 0.29 0.27 0.27 0.27 0.26 0.26 0.25 0.25 0.22 0.21 0.18 0.17 0.16 0.12 0.10 0.08 0.27 0.37 0.41

Caesars Entertainment Corporation's fixed asset turnover ratio has shown significant fluctuations over the years but seems to have stabilized around 0.60 to 0.65 by the end of 2024. This ratio indicates the efficiency of the company in generating revenue from its fixed assets.

On the other hand, the total asset turnover ratio has also exhibited variability but has slightly improved over the years, reaching around 0.31 by the end of 2024. This ratio reflects how well the company utilizes all its assets to generate sales.

Overall, a fixed asset turnover ratio around 0.60 to 0.65 and a total asset turnover ratio of about 0.31 suggest that Caesars Entertainment Corporation is efficiently utilizing both its fixed and total assets to generate sales, despite some fluctuations in the ratios over the years.