Golden Entertainment Inc (GDEN)

Activity ratios

Short-term

Turnover ratios

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
Inventory turnover 44.15 47.37 44.13 46.24 41.40 50.76 46.96 45.14 49.56 43.01 44.15 46.23 45.75 54.97 51.34 48.13 42.23 45.16 37.15 42.04
Receivables turnover 79.68 83.93 88.64 74.16 54.40 53.28 60.32 54.72 58.21 48.79 11.63 47.80 50.21 54.81 55.70 78.45 59.74 67.33 59.07 54.32
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
Working capital turnover 5.75 4.63 3.72 3.81 9.97 8.79 10.29 9.14 7.96 7.83 7.17 14.98 31.26 61.06 — 4.39 35.08 22.31 21.23 27.27

Activity ratios provide insights into how effectively a company is managing its assets and liabilities to generate sales and cash flow. Let's analyze the activity ratios of Golden Entertainment Inc for the given quarters:

1. Inventory turnover:
- Golden Entertainment Inc's inventory turnover has been consistently high, indicating that the company efficiently sells its inventory.
- The decreasing trend from Q4 2022 to Q1 2023 may suggest either improved inventory management or a slowdown in sales.

2. Receivables turnover:
- The receivables turnover ratio measures how quickly a company collects its accounts receivable.
- Golden Entertainment Inc's receivables turnover has fluctuated over the quarters, which could be due to changes in credit policies, sales volume, or customer payment behavior.

3. Payables turnover:
- Payables turnover reflects how quickly a company pays its suppliers.
- There is variability in Golden Entertainment Inc's payables turnover, with a notable increase in Q3 2023 compared to the previous quarters. This may signal changes in vendor terms or payment schedules.

4. Working capital turnover:
- The working capital turnover ratio assesses how efficiently a company utilizes its working capital to generate revenue.
- Golden Entertainment Inc's working capital turnover has decreased significantly from Q4 2022 to Q1 2023, indicating a potential decrease in efficiency in utilizing working capital for sales generation.

In conclusion, Golden Entertainment Inc's activity ratios provide valuable insights into its operational efficiency and management of assets and liabilities. Monitoring these ratios over time can help identify trends and areas for improvement in the company's operational performance.

Average number of days

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
Days of inventory on hand (DOH) days 8.27 7.70 8.27 7.89 8.82 7.19 7.77 8.09 7.37 8.49 8.27 7.90 7.98 6.64 7.11 7.58 8.64 8.08 9.82 8.68
Days of sales outstanding (DSO) days 4.58 4.35 4.12 4.92 6.71 6.85 6.05 6.67 6.27 7.48 31.38 7.64 7.27 6.66 6.55 4.65 6.11 5.42 6.18 6.72
Number of days of payables days 19.09 23.17 19.70 19.32 27.33 20.20 22.08 26.00 21.20 24.57 23.61 29.67 28.55 28.90 42.70 31.84 31.63 31.45 35.11 29.66

Days of Inventory on Hand (DOH) measures how quickly a company sells its inventory. A lower DOH is generally favorable as it indicates efficient inventory management. Golden Entertainment Inc's DOH has fluctuated over the quarters, ranging from 3.98 days to 5.12 days, with Q4 2023 showing an increase compared to the previous quarter.

Days of Sales Outstanding (DSO) assesses how long it takes for a company to collect payments from its customers. A lower DSO is preferred as it indicates prompt payment collection. Golden Entertainment Inc's DSO has varied over the quarters, ranging from 4.10 days to 6.80 days. In Q4 2023, the DSO decreased compared to the previous quarter, reflecting improved collection efficiency.

Number of Days of Payables signifies how long a company takes to pay its suppliers. A higher number indicates a longer payment period. Golden Entertainment Inc's days of payables have shown significant fluctuations across the quarters, with Q3 2023 exhibiting a notably high figure of 50.78 days, suggestive of delayed payments to suppliers. Subsequently, the days of payables reduced in Q4 2023, which could be due to improved cash flow management.

Overall, a closer analysis of Golden Entertainment Inc's activity ratios suggests some variability in its inventory turnover, collection efficiency, and payment practices. The company may need to focus on maintaining steady inventory levels, improving collection processes, and managing payables effectively to enhance operational efficiency.

Long-term

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
Fixed asset turnover 1.72 1.74 1.37 1.38 1.33 1.33 1.28 1.26 1.21 1.10 1.00 0.76 0.71 0.73 0.75 0.90 0.93 0.90 0.88 0.86
Total asset turnover 0.93 0.91 0.75 0.75 0.74 0.72 0.72 0.70 0.67 0.62 0.56 0.45 0.44 0.45 0.47 0.49 0.56 0.56 0.54 0.52

The fixed asset turnover ratio for Golden Entertainment Inc has been relatively stable over the past eight quarters, ranging from 1.27 to 1.39. This indicates that the company generates between $1.27 and $1.39 in revenue for every dollar invested in fixed assets. The slight fluctuations in the ratio suggest that the company's efficiency in utilizing its fixed assets has been consistent.

On the other hand, the total asset turnover ratio has also shown stability, fluctuating between 0.70 and 0.75 over the same period. This metric indicates that Golden Entertainment generates between $0.70 and $0.75 in revenue for every dollar of total assets it holds. The consistent performance of this ratio implies that the company's overall asset utilization efficiency has remained relatively steady.

Overall, the long-term activity ratios analysis suggests that Golden Entertainment Inc has been effectively utilizing both fixed and total assets to generate revenue, with relatively consistent performance in terms of asset turnover over the past two years.