Penn National Gaming Inc (PENN)
Cash conversion cycle
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Days of inventory on hand (DOH) | days | — | — | — | — | 20.03 | 1.08 | 3.15 | 3.38 | 10.66 | 11.24 | 13.90 | 14.61 | 15.34 | 14.92 | 15.52 | 22.01 | 20.22 | 8.54 | 8.88 | — |
| Days of sales outstanding (DSO) | days | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Number of days of payables | days | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Cash conversion cycle | days | 0.00 | 0.00 | 0.00 | 0.00 | 20.03 | 1.08 | 3.15 | 3.38 | 10.66 | 11.24 | 13.90 | 14.61 | 15.34 | 14.92 | 15.52 | 22.01 | 20.22 | 8.54 | 8.88 | 0.00 |
December 31, 2024 calculation
Cash conversion cycle = DOH + DSO – Number of days of payables
= — + — – —
= 0.00
The cash conversion cycle of Penn National Gaming Inc has shown some fluctuations over the reported periods. Initially, the company had a cash conversion cycle of 0 days on March 31, 2020, indicating efficient management of its working capital.
Subsequently, there was an increase in the cash conversion cycle to 20.22 days by December 31, 2020, and continued to fluctuate between 8.54 to 22.01 days until March 31, 2021. This suggests a potential issue in managing the company's cash flow and working capital efficiency during this period.
From June 30, 2021, the cash conversion cycle improved to 13.90 days by June 30, 2022, indicating a positive trend in managing the company's working capital and cash flow. Subsequently, the cycle further reduced to 1.08 days by September 30, 2023, indicating a significant improvement in converting inventory and receivables into cash.
However, there was a notable spike in the cash conversion cycle to 20.03 days by December 31, 2023, which could indicate potential challenges in managing working capital efficiency. Nevertheless, the cycle decreased to 0 days by March 31, 2024, signaling a swift collection of receivables and efficient management of the company's cash flow.
Overall, the company has displayed varying levels of effectiveness in managing its cash conversion cycle, with periods of inefficiency followed by improvements that suggest a proactive approach to enhancing working capital management.
Peer comparison
Dec 31, 2024