Churchill Downs Incorporated (CHDN)
Fixed asset turnover
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 2,734,300 | 2,671,300 | 2,615,300 | 2,493,100 | 2,461,700 | 2,380,600 | 2,191,200 | 2,005,200 | 1,809,800 | 1,694,500 | 1,704,400 | 1,637,000 | 1,597,200 | 1,510,600 | 1,455,400 | 1,125,400 | 1,054,000 | 1,056,400 | 1,024,900 | 1,317,200 |
| Property, plant and equipment | US$ in thousands | — | — | — | — | — | — | 2,229,900 | 2,095,400 | 1,978,300 | 1,240,900 | 1,130,100 | 1,035,800 | 994,900 | 1,053,400 | 1,057,600 | 1,068,700 | 1,082,100 | 1,081,800 | 1,043,200 | 990,800 |
| Fixed asset turnover | — | — | — | — | — | — | 0.98 | 0.96 | 0.91 | 1.37 | 1.51 | 1.58 | 1.61 | 1.43 | 1.38 | 1.05 | 0.97 | 0.98 | 0.98 | 1.33 |
December 31, 2024 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $2,734,300K ÷ $—K
= —
Fixed asset turnover is a financial ratio that indicates how efficiently a company is using its fixed assets to generate revenue. Looking at the trend for Churchill Downs Incorporated over the provided periods, we observe fluctuations in the fixed asset turnover ratio.
From March 31, 2020, to June 30, 2022, the fixed asset turnover ratio generally increased from 1.33 to 1.51, indicating that the company was effectively utilizing its fixed assets to generate revenue during this period.
However, starting from September 30, 2022, the fixed asset turnover ratio began to decline, reaching 0.91 by December 31, 2022. This decrease suggests a decrease in the efficiency of using fixed assets to generate revenue.
Subsequently, the fixed asset turnover ratio fluctuated between 0.96 and 1.61 up to March 31, 2024, with some periods showing an improvement in asset utilization efficiency while others indicating a decline.
The declining trend in the fixed asset turnover ratio in the latter periods suggests that Churchill Downs Incorporated may need to focus on optimizing the utilization of its fixed assets to enhance revenue generation efficiency and overall operational performance.