Monarch Casino & Resort Inc (MCRI)
Inventory turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 106,019 | 97,702 | 305,500 | 169,142 | 209,591 |
| Inventory | US$ in thousands | 7,614 | 7,558 | 7,159 | 7,823 | 6,735 |
| Inventory turnover | 13.92 | 12.93 | 42.67 | 21.62 | 31.12 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $106,019K ÷ $7,614K
= 13.92
The inventory turnover ratio for Monarch Casino & Resort, Inc. has been showing a generally increasing trend over the past five years, indicating that the company has been managing its inventory more efficiently. In 2023, the inventory turnover ratio was 29.00, which means that the company sold and replaced its inventory 29 times during the year. This is a significant improvement compared to the ratios of 27.66 in 2022, 23.75 in 2021, 10.26 in 2020, and 17.19 in 2019.
A higher inventory turnover ratio suggests that the company is selling its products quickly, which can lead to lower holding costs and better cash flow management. It also indicates strong demand for the company's products or efficient inventory management practices.
Overall, the increasing trend in inventory turnover for Monarch Casino & Resort, Inc. is a positive indicator of operational efficiency and effective inventory management, which can contribute to improved financial performance and profitability.
Peer comparison
Dec 31, 2023