Marathon Digital Holdings Inc (MARA)
Payables turnover
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 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 | 2,483 | 2,507 | 3,161 |
| Payables | US$ in thousands | 33,274 | 11,343 | 15,219 | 7,150 | 3,235 | 1,312 | 19,051 | 51,303 | 7,715 | 7,773 | — | — | — | — | — | — | — | — | — | — |
| Payables turnover | 22.82 | 42.90 | 22.69 | 40.63 | 113.47 | 260.94 | 12.95 | 5.58 | 15.78 | 12.58 | — | — | — | — | — | — | — | — | — | — |
March 31, 2024 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $759,364K ÷ $33,274K
= 22.82
The payables turnover ratio for Marathon Digital Holdings Inc has shown significant fluctuations over the period presented. The ratio provides insights into how efficiently the company is managing its accounts payable by indicating the number of times the company pays off its suppliers within a given period.
The payables turnover ratio has ranged from as low as 5.58 to as high as 260.94, indicating varying degrees of efficiency in managing trade payables. A higher turnover ratio suggests that the company is paying off its suppliers more frequently within the period, which can indicate strong liquidity and effective working capital management. Conversely, a lower turnover ratio may imply a slower payment cycle or potentially strained liquidity.
It is important to note that extreme fluctuations in the payables turnover ratio, particularly the drastic increase from 12.95 in Sep 2022 to 260.94 in Dec 2022, may be attributed to changes in payment terms, operational efficiency, or other business-specific factors that warrant further investigation.
Overall, the trend in the payables turnover ratio for Marathon Digital Holdings Inc indicates varying levels of efficiency in managing trade payables over the time period analyzed, highlighting the need for a closer examination of the company's payment practices and vendor relationships.
Peer comparison
Mar 31, 2024