Churchill Downs Incorporated (CHDN)

Debt-to-capital 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
Long-term debt US$ in thousands
Total stockholders’ equity US$ in thousands 1,083,600 1,097,000 1,030,900 826,900 893,600 888,700 853,800 704,200 551,500 612,700 602,900 317,800 306,800 338,800 317,400 202,200 367,100 372,200 320,100 433,000
Debt-to-capital ratio 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

December 31, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $1,083,600K)
= 0.00

Based on the provided data, Churchill Downs Incorporated has consistently maintained a debt-to-capital ratio of 0.00 across multiple quarters from March 2020 to December 2024. This indicates that the company has not utilized any debt in relation to its capital structure during this period. A debt-to-capital ratio of 0.00 suggests that the company's capital structure is entirely equity-financed and carries no debt obligations.

Overall, a debt-to-capital ratio of 0.00 reflects a strong financial position in terms of leverage and independence from debt funding. This may imply that Churchill Downs has been able to fund its operations and growth activities primarily through retained earnings, equity financing, or other non-debt sources. Investors and stakeholders often view a low or zero debt-to-capital ratio positively as it signifies lower financial risk and greater financial stability for the company.