Penn National Gaming Inc (PENN)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 63.33 | 48.30 | 33.56 | 64.36 | 44.03 | |
| Number of days of payables | days | 5.76 | 7.56 | 10.88 | 5.67 | 8.29 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 63.33
= 5.76
PENN Entertainment Inc's number of days of payables has exhibited a decreasing trend over the past five years, indicating a more efficient management of its accounts payable. In 2023, the company took an average of 3.34 days to pay its suppliers, a notable improvement from 4.03 days in 2022. This suggests that PENN Entertainment Inc has been able to extend its payment period, potentially conserving cash and enhancing overall liquidity. Comparing to 2021 and 2020 where the company took 6.18 and 6.49 days respectively to settle its payables, the recent drop in the number of days of payables highlights a positive shift towards optimizing its working capital management. The 2023 figure of 3.34 days also represents a lower number compared to the 5-year average, indicating an improving efficiency in managing the company's payment obligations.
Peer comparison
Dec 31, 2023