Monarch Casino & Resort Inc (MCRI)

Receivables turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	501,012	476,398	395,377	184,413	249,166
Receivables	US$ in thousands	12,996	34,555	35,827	28,630	5,643
Receivables turnover		38.55	13.79	11.04	6.44	44.15

December 31, 2023 calculation

Receivables turnover = Revenue ÷ Receivables
= $501,012K ÷ $12,996K
= 38.55

The receivables turnover ratio for Monarch Casino & Resort, Inc. has fluctuated over the past five years. In 2023, the company achieved a receivables turnover ratio of 38.59, indicating that it collected its accounts receivables approximately 38.59 times during the year. This represents a significant improvement from the previous year, where the ratio was 13.83.

The substantial increase in 2023 suggests that Monarch Casino & Resort, Inc. was able to more efficiently collect payments from its customers compared to the prior year. Additionally, the 2023 receivables turnover ratio outperformed the ratios from 2021 and 2020, indicating a positive trend in the management of accounts receivables.

However, it is worth noting that the 2019 receivables turnover ratio was much higher at 44.15, reflecting even more effective collection of accounts receivables in that year. This could indicate that the company had previously implemented more effective credit and collection procedures.

Overall, the significant improvement in the receivables turnover ratio in 2023 suggests that Monarch Casino & Resort, Inc. has made strides in managing its accounts receivables more efficiently, but there may be room for further improvement to reach the levels seen in 2019.