Marathon Digital Holdings Inc (MARA)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 387,508 | 117,753 | 148,894 | 4,336 | 1,303 |
| Receivables | US$ in thousands | 0 | 18 | 30,000 | 74,767 | — |
| Receivables turnover | — | 6,541.83 | 4.96 | 0.06 | — |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $387,508K ÷ $0K
= —
The receivables turnover ratio for Marathon Digital Holdings Inc has shown a significant improvement over the years based on the provided data. In 2023, the receivables turnover ratio was not available. However, in 2022, the company achieved a remarkably high receivables turnover of 6,541.83, indicating that the company collected its accounts receivable turnover approximately 6,541 times during that year.
Comparing this to the previous years, we can observe a substantial increase in efficiency in collecting receivables. In 2021, the receivables turnover was 4.96, which already showed a substantial improvement from 0.06 in 2020. This signifies that in 2021, the company's ability to convert its accounts receivable into cash was significantly enhanced compared to previous years.
Although data for 2019 and 2023 is not available, the trend suggests a positive trajectory in efficiently managing and collecting receivables over the years. A high receivables turnover ratio indicates that the company is efficient in collecting payments from its customers, which is a positive indicator of liquidity and effective credit management.
Peer comparison
Dec 31, 2023