Monarch Casino & Resort Inc (MCRI)

Receivables turnover

		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	Mar 31, 2019
Revenue (ttm)	US$ in thousands	504,574	496,616	494,378	485,510	477,157	469,036	446,939	427,969	392,852	344,759	291,098	208,535	184,745	182,882	190,498	239,503	249,166	246,865	245,639	242,787
Receivables	US$ in thousands	12,996	13,658	12,659	8,004	34,555	34,566	35,697	31,887	35,827	29,951	33,735	31,105	28,630	5,283	6,979	4,288	5,643	6,763	6,404	5,388
Receivables turnover		38.83	36.36	39.05	60.66	13.81	13.57	12.52	13.42	10.97	11.51	8.63	6.70	6.45	34.62	27.30	55.85	44.15	36.50	38.36	45.06

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $504,574K ÷ $12,996K
= 38.83

The receivables turnover ratio for Monarch Casino & Resort, Inc. has shown fluctuations over the past eight quarters.

In Q4 2023, the receivables turnover ratio was 38.59, indicating that the company collected its accounts receivable approximately 38.59 times during the quarter. This was an improvement compared to Q3 2023 and Q2 2023, where the ratios were 36.16 and 39.07 respectively. However, it was lower than the exceptionally high ratio of 60.74 in Q1 2023.

Looking back further, in Q4 2022, the company had a considerably lower receivables turnover ratio of 13.83, illustrating that it took longer for Monarch Casino & Resort to collect its receivables at that time. The ratios in Q3 2022, Q2 2022, and Q1 2022 were also relatively low, ranging from 12.50 to 13.55.

Overall, the upward trend in receivables turnover from Q4 2022 to Q1 2023 suggests that the company improved its accounts receivable collection efficiency during that period. However, the fluctuations in the following quarters indicate some variability in the collection process. Monitoring this ratio going forward will be crucial to assess the company's effectiveness in managing its receivables and cash flow.