Wynn Resorts Limited (WYNN)
Payables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 1,856,250 | 1,581,170 | 1,529,680 | 1,452,860 | 1,623,560 |
| Payables | US$ in thousands | 208,263 | 197,474 | 170,542 | 148,478 | 262,437 |
| Payables turnover | 8.91 | 8.01 | 8.97 | 9.79 | 6.19 |
December 31, 2023 calculation
Payables turnover = Cost of revenue ÷ Payables
= $1,856,250K ÷ $208,263K
= 8.91
The payables turnover ratio for Wynn Resorts Ltd. has shown fluctuations over the past five years. The trend indicates the efficiency with which the company is managing its accounts payable.
In 2023, the payables turnover ratio improved significantly to 17.79 times, indicating that the company paid its suppliers almost 18 times during the year. This could suggest efficient management of suppliers and potentially favorable credit terms negotiated by Wynn Resorts Ltd.
Comparing this to the previous years, the ratio was also strong in 2021 and 2019, at 15.18 and 15.50 times respectively, suggesting a consistent pattern of promptly paying off suppliers within those years. However, there was a dip in 2022 with a payables turnover ratio of 12.07 times, which could imply a slight slowdown in the payment cycle during that year.
Overall, the higher payables turnover ratio for Wynn Resorts Ltd in 2023 indicates the company's effective management of its accounts payable and its ability to efficiently use the credit terms provided by suppliers.
Peer comparison
Dec 31, 2023