MGM Resorts International (MGM)

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	15,642,020	14,936,500	14,365,390	15,941,210	14,865,260	14,215,440	13,432,030	10,091,140	8,870,390	7,329,990	5,774,612	3,842,475	5,850,905	7,589,185	9,735,953	12,610,310	12,110,220	12,119,940	11,844,790	11,514,580
Receivables	US$ in thousands	1,070,580	971,993	833,468	755,026	925,165	943,058	901,540	828,125	857,777	731,308	657,034	602,365	559,917	1,249,790	1,204,570	1,234,280	1,374,880	1,309,220	583,766	621,138
Receivables turnover		14.61	15.37	17.24	21.11	16.07	15.07	14.90	12.19	10.34	10.02	8.79	6.38	10.45	6.07	8.08	10.22	8.81	9.26	20.29	18.54

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $15,642,020K ÷ $1,070,580K
= 14.61

The receivables turnover ratio for MGM Resorts International has displayed a generally increasing trend over the past two years. In Q4 2023, the ratio stood at 15.10, which was lower than the previous quarter but still higher than the corresponding period in the previous year. This indicates that the company is collecting its receivables more efficiently compared to Q4 2022.

Across the quarters of 2023, there has been a decreasing trend in receivables turnover, reaching a peak of 18.74 in Q1 2023 and gradually declining thereafter. This may suggest a lengthening of the collection period for receivables during the year.

Comparing the latest ratio to the same period in the previous year (Q4 2022), there has been an improvement, signifying that MGM Resorts International has been more effective in converting its receivables into cash in Q4 2023.

Overall, the receivables turnover ratio for MGM Resorts International indicates that the company has been efficiently managing its accounts receivable, although there has been some fluctuation in performance throughout the quarters in 2023. Monitoring this ratio over time is crucial to assess the company's effectiveness in collecting outstanding receivables.