Penn National Gaming Inc (PENN)

Receivables turnover

		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
Revenue (ttm)	US$ in thousands	6,362,900	6,553,100	6,558,700	6,510,800	6,401,700	6,388,600	6,275,400	6,194,300	5,905,000	5,359,900	4,977,800	3,737,500	3,578,700	3,892,500	4,117,300	5,134,900	5,301,400	5,115,500	4,550,700	4,054,500
Receivables	US$ in thousands	319,000	252,800	289,600	260,200	246,400	155,800	169,400	122,900	195,000	154,100	138,500	137,500	96,400	202,600	135,300	104,000	88,700	91,600	106,442	114,439
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

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $6,362,900K ÷ $319,000K
= 19.95

The receivables turnover for PENN Entertainment Inc has shown a decreasing trend in the most recent quarters. In Q4 2023, the receivables turnover was 19.95, which was lower compared to the previous quarter at 25.92 in Q3 2023 and indicates that the company took longer to collect its accounts receivable in Q4. Despite this decrease, the turnover ratio remains relatively high, reflecting the company's efficiency in converting its accounts receivable into cash. Comparing the Q4 2023 turnover to the same quarter in the previous year, there has been a slight decrease from 25.98 in Q4 2022. Overall, the company should monitor and assess the reasons behind this downward trend to ensure efficient management of its accounts receivable in the future.