Churchill Downs Incorporated (CHDN)

The payables turnover ratio of Churchill Downs, Inc. has fluctuated over the past five years. The company's ability to manage its accounts payable effectively can be measured by this ratio, which indicates how many times within a year the company pays off its suppliers.

In 2023, the payables turnover ratio improved to 7.67, indicating that Churchill Downs, Inc. paid off its accounts payable approximately 7.67 times during the year. This represents an increase from the previous year, suggesting that the company is managing its payables more efficiently.

Comparing to the historical trend, in 2022, the payables turnover ratio was lower at 6.12, indicating a decrease in the efficiency of managing payables compared to 2023. However, in 2021, the ratio improved significantly to 8.92, showing that the company was paying off its suppliers more frequently.

In both 2020 and 2019, the payables turnover ratios were 7.91 and 11.38, respectively. The higher ratio in 2019 suggests that Churchill Downs, Inc. was more efficient in managing its accounts payable that year compared to the following years.

Overall, while there have been fluctuations in the payables turnover ratio over the past five years, the company has shown a general trend of effectively managing its payables, with the ratio remaining at relatively healthy levels above 6. However, it's essential for the company to monitor this ratio consistently to ensure optimal management of its accounts payable in the future.