Penn National Gaming Inc (PENN)

Days of sales outstanding (DSO)

		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
Receivables turnover		19.95	25.92	22.65	25.02	25.98	41.01	37.04	50.40	30.28	34.78	35.94	27.18	37.12	19.21	30.43	49.37	59.77	55.85	42.75	35.43
DSO	days	18.30	14.08	16.12	14.59	14.05	8.90	9.85	7.24	12.05	10.49	10.16	13.43	9.83	19.00	11.99	7.39	6.11	6.54	8.54	10.30

December 31, 2023 calculation

DSO = 365 ÷ Receivables turnover
= 365 ÷ 19.95
= 18.30

To analyze PENN Entertainment Inc's days of sales outstanding (DSO), we calculate the average DSO for each quarter from Q1 2022 to Q4 2023.

- Average DSO for Q4 2023 to Q1 2023 is (18.30 + 14.08 + 16.12 + 14.59) / 4 = 15.52 days.
- Average DSO for Q1 2023 to Q4 2022 is (14.08 + 16.12 + 14.59 + 14.05) / 4 = 14.71 days.
- Average DSO for Q4 2022 to Q1 2022 is (16.12 + 14.59 + 14.05 + 8.90) / 4 = 13.91 days.

The trend indicates that DSO has been increasing over the quarters, from 13.91 days in Q1 2022 to 15.52 days in Q4 2023. This suggests that it is taking PENN Entertainment Inc longer to collect revenue from its sales. A higher DSO may indicate issues with accounts receivable management, such as extending credit to customers with poor creditworthiness. It is essential for the company to monitor and manage its DSO effectively to ensure timely collection of receivables and maintain a healthy cash flow position.