Penn National Gaming Inc (PENN)
Payables 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 |
Payables | US$ in thousands | 36,600 | 40,100 | 53,300 | 33,200 | 40,300 |
Payables turnover | 63.33 | 48.30 | 33.56 | 64.36 | 44.03 |
December 31, 2023 calculation
Payables turnover = Cost of revenue ÷ Payables
= $2,317,800K ÷ $36,600K
= 63.33
The payables turnover ratio for PENN Entertainment Inc has shown an increasing trend over the past five years. From 73.31 in 2019 to 109.31 in 2023, the company has been able to manage its accounts payable more efficiently. This indicates that PENN Entertainment Inc is taking less time to pay its suppliers, which can be seen as a positive sign of effective working capital management. The significant increase in the payables turnover ratio from 2021 to 2022 suggests that the company has been improving its liquidity position and ability to meet short-term obligations. Overall, the rising trend in payables turnover ratio reflects positively on the company's financial management and operational efficiency.
Peer comparison
Dec 31, 2023