Churchill Downs Incorporated (CHDN)
Solvency ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt-to-assets 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 |
| 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 |
| Debt-to-equity 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 |
| Financial leverage ratio | 6.71 | 6.54 | 6.96 | 8.55 | 7.78 | 7.60 | 7.71 | 8.91 | 11.25 | 7.63 | 7.66 | 9.56 | 9.72 | 8.78 | 9.36 | 13.78 | 7.32 | 8.77 | 10.05 | 7.40 |
Churchill Downs Incorporated has displayed a consistent and strong solvency position over the past few years as evidenced by its low debt-to-assets ratio, debt-to-capital ratio, and debt-to-equity ratio of 0.00 throughout the reported periods. This indicates that the company has minimal to no debt in relation to its assets, capital, and equity, showcasing a healthy financial structure and a low risk of financial distress.
The financial leverage ratio, which reflects the extent to which the company's operations are funded by debt, has shown some variability over the analyzed periods, ranging from a high of 13.78 to a low of 6.54. Despite this fluctuation, the ratio has generally remained below 12, signifying that Churchill Downs has maintained a relatively conservative level of financial leverage.
Overall, Churchill Downs Incorporated's solvency ratios suggest a stable and well-managed financial position, with a prudent approach to debt management and a solid foundation for future growth and financial sustainability.
Coverage ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | 2.71 | 2.65 | 2.67 | 2.51 | 3.09 | 2.93 | 3.17 | 4.98 | 5.13 | 6.83 | 7.82 | 5.04 | 4.76 | 4.36 | 4.07 | 1.87 | 1.10 | 0.93 | 0.48 | 2.78 |
Churchill Downs Incorporated's interest coverage ratio fluctuated over the period from March 31, 2020, to December 31, 2024. The interest coverage ratio indicates the company's ability to cover its interest expenses with its operating income.
The interest coverage ratio started at 2.78 on March 31, 2020, indicating the company could cover its interest expenses 2.78 times with its earnings before interest and taxes (EBIT). However, the ratio experienced a significant drop to 0.48 on June 30, 2020, suggesting a notable decrease in its ability to cover interest payments.
Subsequently, there was an improvement in the ratio, reaching 7.82 on June 30, 2022, which was the highest point in the period analyzed. This indicates that the company's ability to cover interest expenses improved substantially compared to earlier periods.
However, the ratio decreased from June 30, 2022, to December 31, 2024, indicating a slight decline in Churchill Downs Incorporated's ability to cover its interest payments with its operating income.
Overall, fluctuations in the interest coverage ratio suggest varying levels of financial risk and ability to meet interest obligations for Churchill Downs Incorporated over the period under review.