Golden Entertainment Inc (GDEN)
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 | 357,507 | 349,659 | 343,218 | 334,753 | 336,066 | 340,346 | 337,796 | 335,249 | 328,905 | 248,200 | 250,853 | 257,042 | 257,992 | 337,760 | 341,368 | 343,175 | 347,862 | 333,225 | 317,910 | 297,632 |
| Payables | US$ in thousands | 18,702 | 22,195 | 18,521 | 17,722 | 25,168 | 18,834 | 20,434 | 23,880 | 19,102 | 16,710 | 16,227 | 20,893 | 20,179 | 26,740 | 39,936 | 29,938 | 30,146 | 28,710 | 30,581 | 24,189 |
| Payables turnover | 19.12 | 15.75 | 18.53 | 18.89 | 13.35 | 18.07 | 16.53 | 14.04 | 17.22 | 14.85 | 15.46 | 12.30 | 12.79 | 12.63 | 8.55 | 11.46 | 11.54 | 11.61 | 10.40 | 12.30 |
December 31, 2023 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $357,507K ÷ $18,702K
= 19.12
The payables turnover ratio for Golden Entertainment Inc has fluctuated over the past eight quarters. In Q1 2023, the company had a payables turnover of 35.18, indicating that it was able to convert its accounts payable into payments 35.18 times during the year. This was a significant increase from the previous quarter, Q4 2022, where the payables turnover was 24.53.
However, in Q2 2023, the payables turnover ratio spiked to 33.57 before dropping to 7.19 in Q3 2023. This sharp decrease in Q3 could indicate potential issues with the company's ability to manage its accounts payable efficiently.
Overall, the payables turnover ratio for Golden Entertainment Inc has shown some volatility over the past year. It is essential for the company to closely monitor this ratio to ensure effective management of its payables and maintain good relationships with its suppliers.
Peer comparison
Dec 31, 2023