Churchill Downs
CHDN
73.95
-4.26
-5.45%
Churchill Downs
US · CHDN
#2070 by market cap
Listed 1970
73.95
-4.26
-5.45%
Live - 5344 symbols - heartbeat 454s ago
· 2026-10-08 06:25
Pre-market
74.09
+0.19%
After-hours
74.23
+0.38%
Overnight
75.22
+1.72%
- Market cap
- 5.15B
- P/E (TTM)i
- 12.56
- P/Bi
- 3.84
- EPSi
- 5.29
- Div yieldi
- 0.59%
- 52W posi
- 1%
Reader sentiment
Are you bullish or bearish on CHDN?
Anonymous reader poll. Unscientific, not investment advice.
✦ Quant Financial Health how this is computed
Weak
- Altman Z-Score is 1.34, below the 1.8 "distress zone" threshold.
- Most reliable for industrial/manufacturing companies; less meaningful for banks, insurers and other financials.
Revenue annual, last 8 years
Latest year +7.01% YoY
Margins
- Gross margin
- 33.58%
- Operating margin
- 25.17%
- Net margin
- 12.98%
Key ratios & quality
- Enterprise valuei
- 10.09B
- Altman Z-Scorei
- 1.34
Altman Z-Score below ~1.8 suggests financial distress risk, above ~3.0 suggests low risk; the model is most reliable for industrial/manufacturing companies and less meaningful for banks and other financial firms.
Income statement
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.01B | 1.33B | 1.05B | 1.60B | 1.81B | 2.46B | 2.73B | 2.93B |
| Gross profit | 289.70M | 343.00M | 193.50M | 446.10M | 566.40M | 795.70M | 938.50M | 982.60M |
| Selling & admin expenses | 90.60M | 122.00M | 114.80M | 138.50M | 164.20M | 202.30M | 237.70M | 246.20M |
| Research & development | -- | -- | -- | -- | -- | -- | -- | -- |
| Operating profit | 199.10M | 221.00M | 78.70M | 307.60M | 402.20M | 593.40M | 700.80M | 736.40M |
| Pretax profit | 233.90M | 196.40M | 8.00M | 343.60M | 608.80M | 561.80M | 573.20M | 532.40M |
| Tax | 51.30M | 56.80M | -5.30M | 94.50M | 169.40M | 144.50M | 144.10M | 146.90M |
| Net profit | 352.80M | 137.20M | -82.10M | 249.10M | 439.40M | 417.30M | 429.10M | 385.50M |
| Basic EPS | 4 | 2 | -1 | 3 | 6 | 6 | 6 | 5 |
| Diluted EPS | 4.24 | 1.69 | -1.04 | 3.18 | 5.71 | 5.49 | 5.68 | 5.29 |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Revenue | 643.00M | 934.00M | 683.00M | 665.90M | 663.00M | 980.00M |
| Gross profit | 190.00M | 392.00M | 204.30M | 196.70M | 203.00M | 419.00M |
| Selling & admin expenses | 55.00M | 61.00M | 59.30M | 71.50M | 59.00M | 61.00M |
| Research & development | -- | -- | -- | -- | -- | -- |
| Operating profit | 135.00M | 331.00M | 145.00M | 125.20M | 144.00M | 358.00M |
| Pretax profit | 96.00M | 292.00M | 61.20M | 83.30M | 113.00M | 328.00M |
| Tax | 19.00M | 74.00M | 22.00M | 31.80M | 30.00M | 86.00M |
| Net profit | 77.00M | 218.00M | 39.20M | 51.50M | 83.00M | 242.00M |
| Basic EPS | 1 | 3 | 1 | 1 | 1 | 3 |
| Diluted EPS | 1.02 | 2.99 | 0.54 | 0.71 | 1.16 | 3.42 |
Balance sheet
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Total current assets | 241.50M | 221.20M | 235.10M | 501.50M | 344.50M | 400.80M | 412.30M | 443.20M |
| Cash & ST investments | 133.30M | 96.20M | 67.40M | 291.30M | 129.80M | 144.50M | 175.50M | 200.60M |
| Inventory | -- | -- | -- | -- | -- | 17.20M | 11.60M | 11.90M |
| Total assets | 1.73B | 2.55B | 2.69B | 2.98B | 6.21B | 6.96B | 7.28B | 7.48B |
| Total current liabilities | 256.60M | 301.20M | 424.20M | 395.00M | 621.60M | 755.80M | 729.30M | 733.30M |
| Short-term debt | 4.00M | 4.00M | 4.00M | 7.00M | 47.00M | 75.80M | 71.80M | 71.50M |
| Long-term debt | 880.30M | 1.47B | 1.62B | 1.96B | 4.56B | 4.77B | 4.84B | 5.07B |
| Total liabilities | 1,251,900,000.00 | 2,040,000,000.00 | 2,319,300,000.00 | 2,674,800,000.00 | 5,655,300,000.00 | 6,061,900,000.00 | 6,172,600,000.00 | 6,428,700,000.00 |
| Total equity | 473.30M | 511.00M | 367.10M | 306.80M | 551.50M | 893.60M | 1.10B | 1.06B |
| Retained earnings | 474.20M | 509.20M | 349.80M | 307.70M | 552.40M | 894.50M | 1.08B | 1.01B |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Total current assets | 452.40M | 464.00M | 414.90M | 443.20M | 452.00M | 484.00M |
| Cash & ST investments | 174.20M | 182.40M | 180.50M | 200.60M | 200.00M | 196.00M |
| Inventory | 11.60M | 12.60M | 12.40M | 11.90M | 11.00M | 11.00M |
| Total assets | 7.35B | 7.38B | 7.45B | 7.48B | 7.49B | 7.52B |
| Total current liabilities | 846.10M | 772.10M | 725.20M | 733.30M | 836.00M | 1.36B |
| Short-term debt | 71.70M | 71.90M | 71.80M | 71.50M | 71.00M | 671.00M |
| Long-term debt | 4.81B | 4.94B | 5.04B | 5.07B | 4.87B | 4.11B |
| Total liabilities | 6,254,000,000.00 | 6,311,600,000.00 | 6,375,700,000.00 | 6,428,700,000.00 | 6,341,000,000.00 | 6,130,000,000.00 |
| Total equity | 1.09B | 1.06B | 1.08B | 1.06B | 1.14B | 1.39B |
| Retained earnings | 1.07B | 1.04B | 1.04B | 1.01B | 1.09B | 1.34B |
Cash flow
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 197.80M | 289.60M | 141.90M | 335.50M | 536.80M | 605.80M | 772.70M | 769.80M |
| Depreciation & amortization | 63.60M | 101.00M | 97.90M | 108.50M | 119.00M | 175.20M | 204.70M | 239.50M |
| Free cash flow | 48.40M | 126.30M | -92.30M | 243.70M | 80.00M | -70.70M | 225.70M | 309.60M |
| Dividends paid | -23.70M | -22.20M | -23.40M | -24.80M | -26.00M | -27.10M | -29.20M | -30.80M |
| Stock buybacks / issuance | -531.40M | -95.00M | -28.40M | -297.50M | -174.90M | -55.90M | -186.00M | -427.80M |
| Ending cash balance | 173.30M | 142.50M | 121.00M | 355.60M | 204.70M | 221.80M | 252.70M | 288.50M |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Operating cash flow | 247.00M | 240.00M | 186.80M | 96.00M | 295.00M | 217.00M |
| Depreciation & amortization | 61.00M | 59.00M | 58.30M | 61.20M | 58.00M | 60.00M |
| Free cash flow | 167.00M | 155.00M | -58.10M | 45.70M | 236.00M | 159.00M |
| Dividends paid | -31.00M | 1.00M | -200.00K | -600.00K | -31.00M | 0 |
| Stock buybacks / issuance | -87.00M | -254.00M | -54.80M | -32.00M | 0 | 0 |
| Ending cash balance | 271.00M | 286.00M | 268.50M | 288.50M | 291.00M | 295.00M |
Returns & efficiency
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| ROE %i | 63.36 | 28.02 | -18.71 | 73.93 | 102.39 | 57.75 | 43.17 | 36.28 |
| ROA %i | 17.27 | 6.43 | -3.13 | 8.79 | 9.56 | 6.34 | 6.00 | 5.14 |
| ROIC %i | 24.57 | 11.25 | -1.18 | 14.56 | 14.69 | 11.33 | 10.98 | 9.80 |
| 5-year avg ROE %i | 23.53 | 27.82 | 22.09 | 33.56 | 49.80 | 48.67 | 51.65 | 62.64 |
| EBIT margin %i | 27.16 | 20.10 | 8.35 | 26.82 | 41.78 | 33.72 | 31.56 | 28.37 |
| FCF / sales %i | 4.80 | 9.50 | -- | 15.26 | 4.42 | -- | 8.25 | 10.58 |
| Current ratioi | 0.94 | 0.73 | 0.55 | 1.27 | 0.55 | 0.53 | 0.57 | 0.60 |
| Quick ratioi | 0.70 | 0.49 | 0.36 | 1.01 | 0.36 | 0.35 | 0.40 | 0.42 |
| Debt / assetsi | 51.26 | 57.78 | 60.39 | 66.00 | 74.20 | 69.64 | 67.56 | 68.66 |
| LT debt / equityi | 185.99 | 289.18 | 440.83 | 639.18 | 826.60 | 533.61 | 447.04 | 501.84 |
| Interest coveragei | 6.83 | 3.77 | 1.10 | 5.06 | 5.13 | 3.09 | 2.98 | 2.79 |
| Revenue CAGR (3Y) %i | 8.11 | 17.37 | 6.09 | 16.54 | 10.82 | 32.68 | 19.63 | 17.37 |
| Net income CAGR (3Y) %i | 75.56 | 8.35 | -- | -10.95 | 47.29 | -- | 19.66 | -4.48 |
| FCF CAGR (3Y) %i | -39.72 | -10.59 | -- | 71.40 | -14.12 | -- | -2.53 | 57.00 |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| ROE %i | 44.57 | 41.56 | 37.84 | 36.28 | 35.49 | 34.39 |
| ROA %i | 5.87 | 5.92 | 5.52 | 5.14 | 5.19 | 5.50 |
| ROIC %i | 10.97 | 10.97 | 10.35 | 9.80 | 9.96 | 10.14 |
| 5-year avg ROE %i | -- | -- | -- | -- | -- | -- |
| EBIT margin %i | 30.83 | 30.30 | 28.95 | 28.37 | 28.76 | 29.35 |
| FCF / sales %i | 10.50 | 12.94 | 9.19 | 10.58 | 12.85 | 12.79 |
| Current ratioi | 0.53 | 0.60 | 0.57 | 0.60 | 0.54 | 0.36 |
| Quick ratioi | 0.33 | 0.39 | 0.37 | 0.42 | 0.36 | 0.24 |
| Debt / assetsi | 66.50 | 67.98 | 68.61 | 68.66 | 65.95 | 63.57 |
| LT debt / equityi | 449.18 | 474.48 | 487.30 | 501.84 | 443.89 | 306.49 |
| Interest coveragei | 2.94 | 2.93 | 2.83 | 2.79 | 2.85 | 3.00 |
| Revenue CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| Net income CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| FCF CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
✦ Quant Revenue Concentration how this is computed
Lead segment, long tail
- Live and Historical Racing is the largest reported line at 55.41% of revenue, across 3 reported segments.
- Gaming follows at 27.55%, so the top line still matters most but isn’t the whole story.
Revenue breakdown most recent period
Business
Live and Historical Racing55.41%
Gaming27.55%
Wagering Services and Solutions17.04%
Quote time 2026-10-08 06:25:46 · For reference only, not investment advice and not tailored to your situation.