Golden Entertainment Inc (GDEN)
Payables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 357,507 | 336,066 | 328,905 | 341,824 | 356,862 |
| Payables | US$ in thousands | 18,702 | 25,168 | 19,102 | 20,179 | 30,146 |
| Payables turnover | 19.12 | 13.35 | 17.22 | 16.94 | 11.84 |
December 31, 2023 calculation
Payables turnover = Cost of revenue ÷ Payables
= $357,507K ÷ $18,702K
= 19.12
The payables turnover ratio for Golden Entertainment Inc has shown a consistent upward trend over the past five years. This ratio measures the efficiency with which the company pays its suppliers.
In 2019, the payables turnover ratio was 18.48, indicating that the company was able to pay off its suppliers approximately 18.48 times during the year. This ratio increased to 20.18 in 2020, reflecting an improvement in the company's ability to manage and settle its payables.
Further improvement was seen in 2021 when the payables turnover ratio increased to 30.54, showcasing the company's enhanced efficiency in paying off its suppliers. This positive trend continued in 2022 with a ratio of 24.53 and peaked at 30.88 in 2023.
The increasing trend in the payables turnover ratio indicates that Golden Entertainment Inc has been managing its payables more effectively over the years, possibly negotiating better credit terms with suppliers or optimizing its working capital management. This trend suggests a positive impact on the company's liquidity and financial health.
Peer comparison
Dec 31, 2023