Penn National Gaming Inc (PENN)

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		65.61	47.16	41.15	45.77	47.94	48.48	47.68	39.79	33.56	45.52	42.51	57.14	64.36	29.55	62.08	26.87	33.97	31.21	35.46	25.79
Number of days of payables	days	5.56	7.74	8.87	7.97	7.61	7.53	7.66	9.17	10.88	8.02	8.59	6.39	5.67	12.35	5.88	13.58	10.74	11.70	10.29	14.15

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 65.61
= 5.56

To analyze PENN Entertainment Inc's number of days of payables, we observe a consistent trend over the past eight quarters. The number of days of payables has ranged from 3.34 days to 5.00 days, with fluctuations within a relatively narrow range. This indicates that the company is efficient in managing its accounts payable, as it takes an average of approximately 4 days to pay its outstanding debts to suppliers or vendors. The lower number of days of payables suggests that PENN Entertainment Inc is able to effectively negotiate favorable credit terms with its suppliers, which could positively impact its cash flow and working capital management. Overall, the stability and efficiency of the company's payables management demonstrate prudent financial practices and effective control over its liabilities.