Marathon Digital Holdings Inc (MARA)
Payables turnover
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 1,335,581 | 1,075,003 | 925,361 | 759,364 | 486,662 | 345,347 | 290,494 | 367,065 | 342,349 | 246,779 | 286,454 | 121,765 | 97,777 | 108,254 | 11,892 | 8,253 | 7,000 | 4,525 | 3,368 | 3,127 |
| Payables | US$ in thousands | 12,556 | 12,561 | 28,840 | 33,274 | 11,343 | 15,219 | 7,150 | 3,235 | 1,312 | 19,051 | 51,303 | 7,715 | 7,773 | — | — | — | — | — | — | — |
| Payables turnover | 106.37 | 85.58 | 32.09 | 22.82 | 42.90 | 22.69 | 40.63 | 113.47 | 260.94 | 12.95 | 5.58 | 15.78 | 12.58 | — | — | — | — | — | — | — |
December 31, 2024 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $1,335,581K ÷ $12,556K
= 106.37
The payables turnover ratio for Marathon Digital Holdings Inc experienced fluctuations over the years. The ratio was not calculable (marked as "—") for the period up to December 31, 2021, indicating a lack of specific payable data or possibly a low level of payables relative to cost of goods sold during those periods.
From March 31, 2022, to June 30, 2024, the payables turnover ratio showed a mix of decreasing and increasing trends. Specifically, the ratio increased from 15.78 on March 31, 2022, to 32.09 on June 30, 2024, showing an improvement in the management of payables during this period. However, the ratio dipped to 22.82 on March 31, 2024, suggesting a slight slowdown in the payment of payables relative to cost of goods sold.
On December 31, 2024, the payables turnover ratio spiked to 106.37, indicating a significant increase in the speed at which the company is paying its payables compared to the previous periods. This sudden increase could be due to various factors such as changes in the company's payment terms or supplier relationships.
Overall, the payables turnover ratio for Marathon Digital Holdings Inc has been volatile, showcasing fluctuations in the management of payables over the years. It is important for stakeholders to further investigate the reasons behind these fluctuations to assess the company's efficiency in managing its payables effectively.
Peer comparison
Dec 31, 2024