Churchill Downs Incorporated (CHDN)
Current ratio
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 412,300 | 387,400 | 436,000 | 416,000 | 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 |
| Total current liabilities | US$ in thousands | 729,300 | 710,100 | 763,200 | 837,200 | 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 |
| Current ratio | 0.57 | 0.55 | 0.57 | 0.50 | 0.53 | 0.55 | 0.90 | 0.54 | 0.55 | 3.67 | 3.79 | 1.20 | 1.27 | 1.50 | 1.44 | 1.14 | 0.55 | 1.71 | 1.67 | 2.45 |
December 31, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $412,300K ÷ $729,300K
= 0.57
The current ratio for Churchill Downs Incorporated has fluctuated over the past five years. It started at a healthy 2.45 as of March 31, 2020, indicating a strong ability to cover short-term obligations with current assets. However, the ratio experienced a decline in the following quarters, reaching a low of 0.55 as of December 31, 2020. This significant drop may raise concerns about the company's liquidity position and ability to meet its short-term financial obligations.
Subsequently, there was an improvement in the current ratio, with values ranging between 1.14 and 1.71 from March 31, 2021, to September 30, 2021. However, the ratio decreased again to 1.20 as of March 31, 2022, and further decreased to 0.54 by March 31, 2023.
In the most recent data, the current ratio has slightly recovered, standing at 0.57 as of December 31, 2024. It should be noted that a current ratio below 1 may indicate that the company may have difficulty meeting its short-term obligations with its current assets alone.
The significant fluctuations in the current ratio over the years suggest potential changes in Churchill Downs Incorporated's liquidity position and ability to manage its short-term financial obligations. Monitoring this ratio closely can provide valuable insights into the company's financial health and sustainability.