Churchill Downs Incorporated (CHDN)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 2.70 | 2.29 | 3.34 | 3.19 | 3.92 | |
| Number of days of payables | days | 135.33 | 159.10 | 109.22 | 114.59 | 93.06 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 2.70
= 135.33
Churchill Downs, Inc.'s number of days of payables has fluctuated over the past five years. In 2023, the company took an average of 47.59 days to pay its bills to suppliers. This was a decrease from the previous year when the number of days of payables was 59.68 days, indicating an improvement in the efficiency of managing its accounts payable.
Comparing to earlier years, in 2021, the number of days of payables was 40.94 days, showing that the company was able to pay its bills more quickly than in 2020 when it took 46.15 days to settle payables. Additionally, in 2019, Churchill Downs, Inc. had a lower number of days of payables at 32.07 days, suggesting that the company was managing its payables more effectively back then.
Overall, the trend in the number of days of payables for Churchill Downs, Inc. shows some variability, with the company taking longer to pay its bills in 2022 but improving its efficiency in 2023. Investors and creditors may closely monitor this ratio to assess the company's liquidity and operational efficiency in managing its working capital.