Churchill Downs Incorporated (CHDN)
Working capital turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 2,193,300 | 1,809,800 | 1,597,200 | 1,054,000 | 1,329,700 |
| Total current assets | US$ in thousands | 400,800 | 344,500 | 501,500 | 235,100 | 221,200 |
| Total current liabilities | US$ in thousands | 755,800 | 621,600 | 395,000 | 424,200 | 301,200 |
| Working capital turnover | — | — | 15.00 | — | — |
December 31, 2023 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $2,193,300K ÷ ($400,800K – $755,800K)
= —
The working capital turnover ratio for Churchill Downs, Inc. was not calculable for the years ending December 31, 2023, 2022, 2020, and 2019. However, it was 15.00 for the year ending December 31, 2021. The working capital turnover ratio measures how efficiently a company utilizes its working capital to generate sales. A higher ratio indicates better efficiency in utilizing working capital to drive revenue. In this case, the significantly high ratio of 15.00 for 2021 suggests that Churchill Downs, Inc. effectively managed its working capital to generate sales during that year. However, the absence of data for other years limits a comprehensive trend analysis to assess the company's consistency in utilizing working capital efficiently over time. For better insights, it would be pertinent to analyze additional financial ratios and company performance metrics over multiple periods.