Marathon Digital Holdings Inc (MARA)
Payables turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 1,504,910 | 677,594 | 411,185 | 166,573 | 7,001 |
| Payables | US$ in thousands | 12,556 | 11,343 | 1,312 | 7,773 | — |
| Payables turnover | 119.86 | 59.74 | 313.40 | 21.43 | — |
December 31, 2024 calculation
Payables turnover = Cost of revenue ÷ Payables
= $1,504,910K ÷ $12,556K
= 119.86
The payables turnover ratio for Marathon Digital Holdings Inc has shown significant fluctuations over the years. In December 2020, the ratio was not available (?), indicating possibly unreliable or unreported data. By December 2021, the payables turnover stood at 21.43, suggesting the company was able to turn over its payables approximately 21 times during the year.
The ratio experienced a substantial increase to 313.40 by December 2022, indicating that Marathon Digital managed its payables exceptionally efficiently that year, possibly by paying off its debts quickly. However, in December 2023, the ratio dropped to 59.74, reflecting a decrease in the frequency of payables turnover compared to the previous year.
By December 2024, the payables turnover increased again to 119.86, showing an improvement in managing payables compared to the previous year. Overall, the fluctuation in the payables turnover ratio for Marathon Digital Holdings Inc suggests varying levels of efficiency in managing the company's outstanding payables over the years, with notable peaks and troughs in performance.
Peer comparison
Dec 31, 2024