Churchill Downs Incorporated (CHDN)
Total asset 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 2,323,200 | 2,312,700 | 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 | 1,329,700 | 1,268,100 | 1,183,100 | 1,085,100 |
| Total assets | US$ in thousands | 6,955,500 | 6,750,500 | 6,578,600 | 6,273,500 | 6,206,800 | 4,674,100 | 4,619,600 | 3,036,900 | 2,981,600 | 2,973,500 | 2,970,600 | 2,787,100 | 2,981,600 | 3,263,000 | 3,216,000 | 3,203,800 | 2,551,000 | 2,562,500 | 2,588,500 | 2,478,500 |
| Total asset turnover | 0.33 | 0.34 | 0.33 | 0.32 | 0.29 | 0.36 | 0.37 | 0.54 | 0.54 | 0.51 | 0.49 | 0.40 | 0.35 | 0.32 | 0.32 | 0.41 | 0.52 | 0.49 | 0.46 | 0.44 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $2,323,200K ÷ $6,955,500K
= 0.33
The total asset turnover for Churchill Downs, Inc. fluctuated over the past eight quarters. The company's ability to generate sales from its total assets varied, with values ranging from 0.29 to 0.54.
In Q1 2022, the total asset turnover was highest at 0.54, indicating that Churchill Downs, Inc. generated $0.54 in sales for every dollar of total assets during that quarter. However, in Q4 2022, the total asset turnover decreased significantly to 0.29, reflecting a lower efficiency in utilizing its assets to generate revenue.
While there were fluctuations in the total asset turnover ratio, it remained relatively stable around the range of 0.32 to 0.37 in the recent quarters of 2023. This indicates that the company has been able to maintain a moderate level of efficiency in generating sales relative to its total assets during this period.
Overall, Churchill Downs, Inc.'s total asset turnover performance suggests that the company has been able to effectively utilize its assets to generate revenue, with some quarters displaying higher efficiency than others. It would be important for the company to continue monitoring and managing its asset utilization to sustain and improve its overall financial performance.