Penn National Gaming Inc (PENN)
Working capital 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 |
| Total current assets | US$ in thousands | 1,659,000 | 1,780,700 | 1,735,700 | 1,753,400 | 2,013,400 | 2,058,500 | 2,058,900 | 2,113,000 | 2,223,600 | 3,039,100 | 2,552,400 | 2,347,700 | 2,085,000 | 2,186,500 | 1,646,600 | 1,270,000 | 642,800 | 628,200 | 609,234 | 639,204 |
| Total current liabilities | US$ in thousands | 1,490,000 | 1,252,800 | 1,226,700 | 1,271,000 | 1,158,700 | 1,148,300 | 1,085,900 | 1,122,900 | 1,133,200 | 1,077,700 | 958,100 | 947,300 | 860,000 | 921,400 | 827,800 | 813,900 | 905,600 | 877,300 | 860,506 | 820,383 |
| Working capital turnover | 37.65 | 12.41 | 12.89 | 13.50 | 7.49 | 7.02 | 6.45 | 6.26 | 5.42 | 2.73 | 3.12 | 2.67 | 2.92 | 3.08 | 5.03 | 11.26 | — | — | — | — |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $6,362,900K ÷ ($1,659,000K – $1,490,000K)
= 37.65
The working capital turnover of PENN Entertainment Inc has shown a positive trend over the past eight quarters, indicating an improvement in the efficiency of the company's management of its working capital. The ratio has increased steadily from Q1 2022, reaching a peak of 37.65 in Q4 2023. This suggests that the company is generating more revenue for each unit of working capital invested, which is a positive sign of effective working capital management.
A working capital turnover of 37.65 in Q4 2023 indicates that the company generated approximately $37.65 in revenue for every dollar of working capital invested during that quarter. This high turnover ratio reflects the company's ability to efficiently utilize its current assets and liabilities to generate sales.
Overall, the increasing trend in working capital turnover for PENN Entertainment Inc suggests that the company is effectively managing its working capital resources to support its operations and drive revenue growth. However, it is important for the company to maintain this positive trend and continue to monitor and optimize its working capital turnover ratio to ensure sustainable financial performance.
Peer comparison
Dec 31, 2023