Churchill Downs Incorporated (CHDN)
Working capital 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 current assets | US$ in thousands | 400,800 | 370,600 | 583,200 | 377,500 | 344,500 | 1,806,300 | 2,004,900 | 520,300 | 501,500 | 528,100 | 532,600 | 346,800 | 235,100 | 806,600 | 817,700 | 843,000 | 221,200 | 301,900 | 348,500 | 259,400 |
| Total current liabilities | US$ in thousands | 755,800 | 669,900 | 648,000 | 694,400 | 621,600 | 491,700 | 528,400 | 432,200 | 395,000 | 352,500 | 369,500 | 305,200 | 424,200 | 471,000 | 488,200 | 344,100 | 301,200 | 275,800 | 308,800 | 297,700 |
| Working capital turnover | — | — | — | — | — | 1.29 | 1.15 | 18.58 | 15.00 | 8.60 | 8.92 | 27.05 | — | 3.15 | 3.11 | 2.64 | — | 48.59 | 29.80 | — |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $2,323,200K ÷ ($400,800K – $755,800K)
= —
Based on the available data, the working capital turnover for Churchill Downs, Inc. was not provided for the fourth quarter of 2023, third quarter of 2023, second quarter of 2023, and first quarter of 2023.
However, historical data shows that in the second quarter of 2022, the working capital turnover was 1.15, and in the first quarter of 2022, it significantly rose to 18.58.
The working capital turnover ratio is a measure of how efficiently a company is utilizing its working capital to generate sales revenue. A higher working capital turnover ratio indicates that the company is effectively using its resources to drive revenue growth.
It is important to note that without data for the recent quarters, it is challenging to assess the current trend in Churchill Downs, Inc.'s working capital turnover. Further analysis and additional information would be required to provide a more comprehensive evaluation of the company's working capital management efficiency.