Golden Entertainment Inc (GDEN)
Working capital 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 1,350,633 | 1,403,326 | 1,118,335 | 1,119,614 | 1,114,981 | 1,116,291 | 1,119,457 | 1,123,725 | 1,089,708 | 1,013,594 | 937,729 | 721,144 | 688,224 | 729,843 | 766,624 | 939,705 | 970,535 | 938,526 | 906,660 | 876,094 |
| Total current assets | US$ in thousands | 409,442 | 507,635 | 449,983 | 455,666 | 244,573 | 266,014 | 228,127 | 257,673 | 263,938 | 269,188 | 263,695 | 190,006 | 140,731 | 143,693 | 127,244 | 346,535 | 160,429 | 167,354 | 165,483 | 156,153 |
| Total current liabilities | US$ in thousands | 174,376 | 204,491 | 149,623 | 161,896 | 132,702 | 139,084 | 119,364 | 134,705 | 126,966 | 139,803 | 132,947 | 141,866 | 118,713 | 131,740 | 128,424 | 132,370 | 132,764 | 125,289 | 122,778 | 124,032 |
| 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 |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $1,350,633K ÷ ($409,442K – $174,376K)
= 5.75
Golden Entertainment Inc's working capital turnover has experienced fluctuations over the past eight quarters, varying from a low of 3.64 in Q3 2023 to a high of 10.37 in Q2 2022. The working capital turnover ratio measures how efficiently the company is utilizing its working capital to generate revenue, with a higher ratio indicating more effective utilization.
The recent trend in working capital turnover shows a decrease from the peak in Q2 2022, suggesting a potential decrease in efficiency in utilizing working capital to generate revenue. However, the ratio remains above 3.5 in the most recent quarter, indicating that the company is still generating revenue relatively efficiently compared to the amount of working capital it has.
It would be important for Golden Entertainment Inc to continue monitoring its working capital turnover to ensure efficient utilization of resources and to identify any potential areas for improvement in managing working capital effectively to support revenue generation.
Peer comparison
Dec 31, 2023