Penn National Gaming Inc (PENN)

Inventory turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cost of revenue	US$ in thousands	2,317,800	1,936,900	1,788,900	2,136,800	1,774,300
Inventory	US$ in thousands	225,600	11,100	132,300	103,500	76,700
Inventory turnover		10.27	174.50	13.52	20.65	23.13

December 31, 2023 calculation

Inventory turnover = Cost of revenue ÷ Inventory
= $2,317,800K ÷ $225,600K
= 10.27

To calculate PENN Entertainment Inc's inventory turnover ratio, we need both the cost of goods sold (COGS) and the average inventory for each year. Unfortunately, the given table does not provide this information for any of the years. Without these values, we are unable to determine the inventory turnover ratio, which represents the efficiency of a company in managing its inventory levels and generating sales from its inventory.

In general, a higher inventory turnover ratio indicates that a company is selling its inventory quickly, which can be seen as a positive sign. On the other hand, a low inventory turnover ratio may suggest overstocking or difficulty in selling inventory, which can lead to higher carrying costs and potential obsolescence.

Without the necessary financial data, we are unable to provide a specific analysis of PENN Entertainment Inc's inventory turnover ratio.