Type of Submission

Invited Article


This article reveals the median financial results for the club industry for 2010 using 24 financial ratios. The results are based on the submission of balance sheet and selected income statement numbers from 108 clubs. The ratios are reported as median results for the entire ample of 108 clubs plus the median results for the top and lower performing clubs delineated on return on assets. The biggest differences between the two extreme groups of clubs are (1) average collection period, (2) operating cash flows to current liabilities and long-term debt, (3) TIE, (4) beverage inventory turnover, (5) profit margin, (6) return on assets, (7) ROA, (8) operating efficiency ratio, and (9) labor cost percentage.