Wynn Resorts Limited (WYNN)

Inventory 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
Cost of revenue (ttm)	US$ in thousands	1,855,750	1,808,649	1,653,602	1,592,690	1,573,661	1,566,118	1,561,687	1,577,186	1,529,675	1,484,102	1,453,568	1,403,754	1,452,857	1,502,950	1,578,747	1,657,590	1,623,557	2,578,334	3,509,228	4,368,712
Inventory	US$ in thousands	75,552	75,071	70,979	69,182	70,094	68,310	69,075	72,244	69,967	64,043	66,100	65,252	66,285	73,627	84,779	86,182	88,519	80,486	81,766	67,373
Inventory turnover		24.56	24.09	23.30	23.02	22.45	22.93	22.61	21.83	21.86	23.17	21.99	21.51	21.92	20.41	18.62	19.23	18.34	32.03	42.92	64.84

December 31, 2023 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $1,855,750K ÷ $75,552K
= 24.56

The inventory turnover of Wynn Resorts Ltd. has been showing a consistent upward trend over the past few quarters. In Q4 2022, the inventory turnover ratio was 34.00 times and has steadily increased to 49.03 times in Q4 2023. This indicates that the company is selling its inventory more frequently in comparison to holding onto it for prolonged periods.

A higher inventory turnover ratio suggests that Wynn Resorts is managing its inventory more efficiently and effectively. It can also indicate that the company is able to quickly turn its inventory into sales, which is a positive sign for the business.

Overall, the increasing trend in inventory turnover for Wynn Resorts Ltd. indicates that the company is effectively managing its inventory levels and turning over its inventory at a more rapid pace, which can lead to improved cash flows and profitability.