MGM Resorts International (MGM)

Number of days of payables

		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
Payables turnover		11.94	16.26	22.12	22.98	20.84	14.74	11.79	13.21	12.18	12.61	16.07	20.53	23.57	22.73	27.78	17.32	14.89	13.34	12.16	9.59
Number of days of payables	days	30.56	22.45	16.50	15.88	17.51	24.76	30.95	27.63	29.96	28.93	22.72	17.78	15.49	16.06	13.14	21.07	24.52	27.35	30.01	38.08

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 11.94
= 30.56

The number of days of payables for MGM Resorts International has been trending downward over the past four quarters, indicating the company is taking less time to pay off its trade payables. In Q4 2023, the number of days of payables stood at 19.70 days, the lowest level observed compared to the previous seven quarters. This suggests that MGM Resorts International is managing its accounts payable more efficiently. This reduction in the number of days of payables from Q3 2023 to Q4 2023 may indicate a more proactive approach in managing working capital and cash flow. Overall, the decreasing trend in the number of days of payables reflects a stronger financial position for MGM Resorts International in terms of managing its payment obligations to suppliers.