Marathon Digital Holdings Inc (MARA)
Activity ratios
Short-term
Turnover ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Inventory turnover | — | — | 48.61 | 13.33 | 30.78 | 30.70 | 7.88 | 6.63 | 2.99 | 2.84 | — | — | — | 0.11 | — | — | — | — | — | — |
| Receivables turnover | 59.94 | — | 217.23 | 266.38 | 1,161.49 | 10,974.89 | — | 7.96 | 6.29 | 4.96 | — | — | — | 0.06 | — | — | — | — | — | — |
| Payables turnover | 22.82 | 42.90 | 22.69 | 40.63 | 113.47 | 260.94 | 12.95 | 5.58 | 15.78 | 12.58 | — | — | — | — | — | — | — | — | — | — |
| Working capital turnover | 0.32 | 0.39 | 0.66 | 0.51 | 0.55 | 0.79 | 1.17 | 0.88 | 0.33 | 0.22 | 0.17 | 0.09 | 0.02 | 0.02 | 0.07 | 0.33 | 16.64 | — | — | — |
Based on the data provided, let's analyze Marathon Digital Holdings Inc's activity ratios:
1. Inventory Turnover: The company's inventory turnover has shown improvement over the quarters, indicating that the company is managing its inventory efficiently. The ratio increased from 2.99 in March 2022 to 30.78 in September 2023, suggesting an increase in sales relative to the level of inventory held.
2. Receivables Turnover: The receivables turnover ratio fluctuates widely throughout the periods, with a significant increase from 0.06 in December 2020 to 1,161.49 in March 2023. This indicates that the company is collecting its receivables more frequently, which may be a positive sign for cash flow management.
3. Payables Turnover: The payables turnover ratio also varies, with a notable decrease from 260.94 in March 2022 to 5.58 in June 2022. This suggests that the company is taking longer to pay its suppliers, which could impact relationships but may help in managing cash flow better.
4. Working Capital Turnover: The working capital turnover ratio fluctuates significantly, indicating changes in the company's ability to utilize its working capital effectively to generate sales. The ratio decreased from 16.64 in March 2020 to 0.02 in December 2021 before showing some improvement in the recent periods.
Overall, the activity ratios of Marathon Digital Holdings Inc show varying trends over the periods, indicating fluctuations in inventory management, accounts receivable collection, accounts payable payment efficiency, and working capital utilization. It is essential for the company to monitor and manage these ratios effectively to ensure optimal operational performance and financial health.
Average number of days
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Days of inventory on hand (DOH) | days | — | — | 7.51 | 27.38 | 11.86 | 11.89 | 46.34 | 55.05 | 122.28 | 128.63 | — | — | — | 3,423.07 | — | — | — | — | — | — |
| Days of sales outstanding (DSO) | days | 6.09 | — | 1.68 | 1.37 | 0.31 | 0.03 | — | 45.88 | 58.04 | 73.54 | — | — | — | 6,292.36 | — | — | — | — | — | — |
| Number of days of payables | days | 15.99 | 8.51 | 16.09 | 8.98 | 3.22 | 1.40 | 28.18 | 65.37 | 23.13 | 29.02 | — | — | — | — | — | — | — | — | — | — |
Days of Inventory on Hand (DOH) for Marathon Digital Holdings Inc show significant fluctuations over the periods analyzed. On Mar 31, 2024, DOH data was not available, suggesting a lack of recent inventory information. In the previous periods, DOH ranged from as low as 7.51 days to as high as 3,423.07 days, indicating varying levels of inventory management efficiency.
Days of Sales Outstanding (DSO) also displayed fluctuations, with values ranging from 0.03 days to 6,292.36 days. A value of 0.03 days on Dec 31, 2022, implies extremely efficient sales collection, while the high DSO on Dec 31, 2020, indicates challenges in collecting sales revenue in a timely manner.
The Number of Days of Payables for Marathon Digital Holdings Inc varied from 1.40 days to 65.37 days. The shorter payable days suggest the company took less time to pay its suppliers, potentially benefiting from discounts or effective cash management. However, longer payable periods could indicate cash flow constraints or strained supplier relationships.
Overall, analyzing these activity ratios can provide valuable insights into Marathon Digital Holdings Inc's inventory management, sales collection efficiency, and payment practices over the different reporting periods.
Long-term
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Fixed asset turnover | 0.63 | 0.58 | 0.35 | 0.26 | 0.28 | 0.72 | 0.56 | 0.76 | 0.57 | 0.54 | 0.99 | 0.52 | 0.31 | 0.25 | 0.45 | 0.44 | 0.59 | 0.35 | 0.24 | 1.53 |
| Total asset turnover | 0.17 | 0.19 | 0.19 | 0.15 | 0.15 | 0.17 | 0.15 | 0.16 | 0.12 | 0.10 | 0.14 | 0.07 | 0.02 | 0.01 | 0.06 | 0.15 | 0.29 | 0.20 | 0.15 | 0.28 |
The fixed asset turnover ratio for Marathon Digital Holdings Inc has been fluctuating over the last few quarters, ranging from a low of 0.26 to a high of 0.99. This indicates the efficiency of the company in generating revenue from its fixed assets. A higher ratio suggests that the company is effectively utilizing its fixed assets to generate sales.
On the other hand, the total asset turnover ratio has been relatively low, trending between 0.01 and 0.29. This ratio indicates the company's ability to generate sales from all of its assets. A higher total asset turnover ratio typically signifies better asset utilization and efficiency in generating sales.
Overall, the company's fixed asset turnover ratio seems to be more volatile compared to its total asset turnover ratio, which has been consistently low. Marathon Digital Holdings Inc may need to focus on improving its overall asset utilization to enhance its efficiency in generating sales revenue.