Churchill Downs Incorporated (CHDN)
Financial leverage ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 stockholders’ equity | US$ in thousands | 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 | 508,300 | 550,400 | 553,300 | 456,900 |
| Financial leverage ratio | 7.78 | 7.60 | 7.71 | 8.91 | 11.25 | 7.63 | 7.66 | 9.56 | 9.72 | 8.78 | 9.36 | 13.78 | 8.12 | 8.77 | 10.05 | 7.40 | 5.02 | 4.66 | 4.68 | 5.42 |
December 31, 2023 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $6,955,500K ÷ $893,600K
= 7.78
The financial leverage ratio of Churchill Downs, Inc. has displayed some fluctuations in recent quarters. In Q4 2023, the ratio stood at 7.78, indicating that the company's reliance on debt to finance its operations was moderate. This figure was lower compared to the previous quarter, Q3 2023, where the ratio was 7.60.
Looking back further, in Q2 and Q1 2023, the financial leverage ratios were 7.71 and 8.91, respectively, suggesting a slight increase in leverage from Q2 to Q1. It is noteworthy that the ratio in Q1 2023 was higher than the current level in Q4 2023, signifying a potential improvement in the company's debt management.
Comparing this year's data with the same quarters in the previous year, the financial leverage ratio has shown a downward trend. In Q4 2022, the ratio was notably higher at 11.25, indicating a higher reliance on debt to support operations compared to the current period. However, there was a consistent decrease in leverage over the quarters, as seen in Q3 2022 (7.63), Q2 2022 (7.66), and Q1 2022 (9.56).
Overall, despite some fluctuations, the financial leverage ratio of Churchill Downs, Inc. has demonstrated a general downward trend over the past year, reflecting a potential improvement in the company's ability to manage debt and maintain financial stability.