Golden Entertainment Inc (GDEN)
Liquidity 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 2.35 | 2.48 | 3.01 | 2.81 | 1.84 | 1.91 | 1.91 | 1.91 | 2.08 | 1.93 | 1.98 | 1.34 | 1.19 | 1.09 | 0.99 | 2.62 | 1.21 | 1.34 | 1.35 | 1.26 |
| Quick ratio | 1.00 | 1.36 | 0.89 | 0.78 | 1.19 | 1.38 | 1.66 | 1.65 | 1.88 | 1.72 | 1.75 | 1.13 | 0.99 | 0.86 | 0.78 | 2.37 | 0.96 | 1.10 | 1.08 | 1.00 |
| Cash ratio | 0.90 | 1.28 | 0.81 | 0.68 | 1.03 | 1.23 | 1.50 | 1.50 | 1.74 | 1.57 | 1.15 | 1.03 | 0.87 | 0.76 | 0.67 | 2.28 | 0.84 | 0.99 | 0.95 | 0.87 |
Golden Entertainment Inc's liquidity ratios have shown some fluctuations over the past eight quarters. The current ratio, which measures the company's ability to cover its short-term obligations with its current assets, has been relatively stable, ranging from 1.84 to 3.01. The current ratio has generally been above 2, indicating a healthy level of liquidity.
The quick ratio, a more stringent measure of liquidity that excludes inventory from current assets, has also varied but has generally been above 1, with the exception of Q1 2023. This suggests that the company may have a sufficient level of liquid assets to cover its short-term liabilities without relying on inventory.
The cash ratio, which is the most conservative liquidity measure as it only considers cash and cash equivalents, has fluctuated between 0.86 and 1.71. While Golden Entertainment Inc's cash ratio has generally been above 1, indicating that the company has a relatively high level of cash to cover its short-term obligations, there were periods where the cash ratio dipped below this threshold.
Overall, Golden Entertainment Inc appears to have maintained a satisfactory level of liquidity over the past eight quarters, as evidenced by their current ratio consistently above 2 and their quick ratio generally above 1. However, management may want to keep an eye on the cash ratio to ensure that the company has enough cash on hand to meet its short-term obligations.
Additional liquidity measure
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash conversion cycle | days | -6.25 | -11.12 | -7.31 | -6.51 | -11.81 | -6.16 | -8.26 | -11.24 | -7.56 | -8.61 | 16.03 | -14.14 | -13.30 | -15.60 | -29.04 | -19.61 | -16.88 | -17.94 | -19.11 | -14.26 |
The cash conversion cycle of Golden Entertainment Inc fluctuated over the past eight quarters, with both positive and negative values observed. In Q3 2023, the company had a significantly negative cash conversion cycle of -40.83 days, indicating a rapid turnover of cash and short cash conversion period. This was a sharp improvement from the previous quarter, Q2 2023, which also showed a negative cash conversion cycle of -2.21 days.
The company's cash conversion cycle in Q4 2023 was slightly negative at -0.83 days, suggesting efficient management of cash flows and working capital during the period. This performance was consistent with Q1 2023, which had a negative cash conversion cycle of -1.24 days.
Looking back to earlier quarters, in Q4 2022, Golden Entertainment Inc had a negative cash conversion cycle of -3.41 days, indicating a similar trend of efficient cash management. The company also showed a short cash conversion cycle in Q2 2022 and Q3 2022, with values of -1.90 days and -0.40 days, respectively.
Overall, the fluctuation in Golden Entertainment Inc's cash conversion cycle over the past eight quarters reflects variations in the efficiency of the company's cash conversion process and working capital management. The negative values suggest that the company has been able to quickly convert its investments in inventory and receivables into cash, which can indicate effective operational performance and financial management.