CHDN

Churchill Downs Incorporated

Consumer Cyclical Gambling

Portfolio

Watchlist

100.155 USD -0.48 ( 0.48%)

Last update at 2026-11-12T15:35:00Z

VOLUME

56412

Market Cap

6331.22M

P/E

17.17

Momentum Score

…

Churchill Downs Incorporated operates live and historical racing entertainment venues, online wagering businesses, and regional casino gaming properties in the United States. It operates through three segments: Live and Historical Racing, Wagering Services and Solutions, and Gaming. The Live and Historical Racing segment engages in live and historical pari-mutuel racing related activities at Churchill Downs Racetrack and its historical racing properties in Kentucky, Virginia, and New Hampshire; provides racing event-related services, including admissions, personal seat licenses, sponsorships, television rights, and other miscellaneous services, as well as food and beverages services. The Wagering Services and Solutions engages in pari-mutuel wagers through TwinSpires, which operates the online horse racing wagering business for TwinSpires.com, BetAmerica.com, and other white-label platforms; facilitates dollar wagering; provides the Bloodstock Research Information Services platform for horse racing statistical data; offers streaming video of live horse races, replays, and an assortment of racing and handicapping information; and provides technology services to third parties. This segment also operates retail and online sports betting businesses, United Tote, which manufactures and operates pari-mutuel wagering systems for racetracks, OTBs, and other pari-mutuel wagering businesses, and Exacta, which provides central determinant system technology in HRMs. The Gaming segment operates the casino properties and associated racetracks, which include slot machines, table games, video lottery terminals, video poker, HRMs, ancillary food and beverage services, hotel services, commission on pari-mutuel wagering, racing event-related services, and other miscellaneous operations. Churchill Downs Incorporated was founded in 1875 and is headquartered in Louisville, Kentucky.

Source: TradingView
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Day Price Range

99.11

Low

101.45

High

52 Week Price Range

80.24

Low

118.35

High

Momentum Score

…

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A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.

Score - Rating
>= 1 - Low / > 1 but < 2 - Below Average / > 2 but < 3 - Average / > 3 but < 4 - Above Average / > 4 - High

AI Summary

Churchill Downs Incorporated operates horse-racing venues, casinos and online wagering platforms, anchored by the Kentucky Derby and related live-event, hospitality and gaming operations. Long-term growth may be supported by expansion of legalized online and sports betting, continued monetization of marquee events and diversification into regional casino and resort operations, which could support recurring gaming revenue and scale benefits for investors.

Risk Score

Medium

Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.

Key Metrics*

Previous Close

100.64

Dividend Yield

0.47%

Revenue TTM

2925.90M

Revenue Per Share

40.98

Gross Profit TTM

982.60M

Debt / Equity

5.15

ROE

35.71%

Net Debt

4908.50M

ROCE

12.30%

Diluted EPS TTM

5.29

Income Statement

Balance Sheet

Change in Cash

Total Operating Cash

Dividends Paid

Breakdown	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Type	yearly	yearly	yearly	yearly	yearly
Date	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Income before tax	532.40M	573.20M	561.80M	608.80M	343.60M
Minority interest	-2.50M	-2.30M	0.00M	0.00M	0.00M
Net income	379.70M	426.80M	417.30M	439.40M	249.10M
Selling general administrative	246.20M	237.70M	202.30M	164.20M	138.50M
Gross profit	982.60M	938.50M	795.70M	566.40M	446.10M
Reconciled depreciation	239.50M	204.70M	175.20M	119.00M	108.50M
Ebit	830.10M	863.00M	830.20M	561.90M	451.50M
Ebitda	1069.60M	1067.70M	1005.40M	680.90M	560.00M
Depreciation and amortization	239.50M	204.70M	175.20M	119.00M	108.50M
Non operating income net other	-	-	-	434.30M	143.90M
Operating income	736.40M	709.00M	564.00M	561.90M	451.50M
Other operating expenses	2189.50M	2025.30M	1897.70M	1407.60M	1289.60M
Interest expense	297.70M	289.80M	268.40M	147.30M	84.70M
Tax provision	146.90M	144.10M	144.50M	169.40M	94.50M
Net interest income	-297.70M	-289.80M	-268.40M	-147.30M	-84.70M
Non recurring	-	-	-	38.30M	15.30M
Income tax expense	146.90M	144.10M	144.50M	169.40M	94.50M
Total revenue	2925.90M	2734.30M	2461.70M	1809.80M	1597.20M
Total operating expenses	246.20M	229.50M	231.70M	164.20M	138.50M
Cost of revenue	1943.30M	1795.80M	1666.00M	1243.40M	1151.10M
Total other income expense net	-204.00M	-135.80M	-2.20M	46.90M	-107.90M
Net income from continuing ops	385.50M	429.10M	417.30M	439.40M	249.10M
Net income applicable to common shares	-	-	-	439.40M	249.10M

Breakdown	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Type	yearly	yearly	yearly	yearly	yearly
Date	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Total assets	7484.50M	7275.90M	6955.50M	6206.80M	2981.60M
Intangible assets	2515.30M	2409.00M	2418.40M	2391.80M	348.10M
Other current assets	44.20M	112.00M	59.50M	44.30M	37.60M
Total liab	6428.70M	6172.60M	6061.90M	5655.30M	2674.80M
Total stockholder equity	1009.70M	1083.60M	893.60M	551.50M	306.80M
Deferred long term liab	-	-	-	340.80M	252.90M
Other current liab	477.50M	424.30M	456.10M	390.10M	258.70M
Capital stock	0.00M	0.00M	0.00M	0.00M	0.00M
Retained earnings	1010.70M	1084.60M	894.50M	552.40M	307.70M
Other liab	-	-	-	433.80M	286.50M
Good will	900.20M	900.20M	899.90M	723.80M	366.80M
Other assets	374.20M	6538.00M	-	109.00M	106.70M
Cash	288.50M	175.50M	144.50M	129.80M	291.30M
Total current liabilities	733.30M	729.30M	755.80M	621.60M	395.00M
Current deferred revenue	-	52.90M	73.20M	39.00M	47.70M
Net debt	4908.50M	4740.40M	4691.80M	4475.90M	1676.70M
Short term debt	71.50M	71.80M	68.00M	47.00M	7.00M
Short long term debt	63.10M	63.10M	68.00M	47.00M	7.00M
Short long term debt total	5197.00M	4915.90M	4836.30M	4605.70M	1968.00M
Other stockholder equity	-	-1.00M	-	-0.90M	-0.90M
Property plant equipment	-	-	-	1978.30M	994.90M
Total current assets	443.20M	412.30M	400.80M	344.50M	501.50M
Long term investments	684.60M	661.20M	655.90M	659.40M	663.60M
Net tangible assets	-	-	-	-2564.10M	-408.10M
Net receivables	110.50M	113.20M	119.50M	95.50M	108.30M
Long term debt	5067.10M	4844.10M	4768.30M	2477.10M	1292.40M
Inventory	11.90M	11.60M	77.30M	74.90M	64.30M
Accounts payable	184.30M	180.30M	158.50M	145.50M	81.60M
Accumulated other comprehensive income	-1.00M	-1.00M	-0.90M	-0.90M	-0.90M
Retained earnings total equity	-	-	-	552.40M	307.70M
Non currrent assets other	2626.70M	18.30M	-75.60M	109.00M	106.70M
Non current assets total	7041.30M	6863.60M	6554.70M	5862.30M	2480.10M
Capital lease obligations	8.40M	8.70M	-	-	-
Long term debt total	-	-	-	2477.10M	1292.40M

Breakdown	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Type	yearly	yearly	yearly	yearly	yearly
Date	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Investments	-	-545.20M	-3546.20M	-3103.70M	-100.40M
Change to liabilities	-	-	-	15.50M	23.60M
Total cashflows from investing activities	-471.50M	-545.20M	-718.00M	-3103.70M	-100.40M
Net borrowings	214.10M	53.80M	237.10M	2643.00M	332.50M
Total cash from financing activities	-262.50M	-196.60M	129.30M	2416.00M	-0.50M
Change to operating activities	-	-	-	21.10M	53.90M
Net income	385.50M	429.10M	417.30M	439.40M	249.10M
Change in cash	35.80M	30.90M	17.10M	-150.90M	234.60M
Begin period cash flow	252.70M	221.80M	204.70M	355.60M	121.00M
End period cash flow	288.50M	252.70M	221.80M	204.70M	355.60M
Total cash from operating activities	769.80M	772.70M	605.80M	536.80M	335.50M
Depreciation	239.50M	204.70M	175.20M	119.00M	108.50M
Other cashflows from investing activities	-286.20M	-545.20M	199.80M	-2680.20M	-8.60M
Dividends paid	30.80M	29.20M	27.10M	-26.00M	-24.80M
Sale purchase of stock	-427.80M	-186.00M	-55.90M	-174.90M	-297.50M
Other cashflows from financing activities	-17.70M	-35.20M	-24.80M	2822.30M	-17.60M
Change to netincome	-	-	-	-58.20M	-99.60M
Capital expenditures	274.90M	547.00M	676.50M	456.80M	91.80M
Cash flows other operating	-	-	-	465.80M	308.30M
Cash and cash equivalents changes	-	-	-	-176.90M	358.60M
Change in working capital	-5.10M	49.90M	7.70M	36.60M	77.50M
Stock based compensation	30.20M	36.10M	32.90M	31.80M	27.80M
Other non cash items	32.90M	8.40M	-74.70M	-198.70M	-137.20M
Free cash flow	494.90M	225.70M	-70.70M	80.00M	243.70M

Peer Comparison*

Sector: Consumer Cyclical Industry: Gambling

Stock Name	Change (USD)	Price (USD)	Trailing PE (x)	Forward PE (x)	Price Sales TTM (x)	Price to Book Value (x)	Enterprise Value to Revenue (x)	Enterprise Value to EBITDA (x)
CHDN Churchill Downs Incorporated	-0.48 0.48%	100.16	17.17	25.32	2.16	6.27	3.85	10.54
ARLUF Aristocrat Leisure Limited	- -%	44.19	26.33	19.23	3.10	4.56	4.80	11.38
GRKZF Greek Organization of Football Prognostics S.A	- -%	15.53	21.04	13.32	1.64	2.36	6.48	16.06
FLUT Flutter Entertainment plc	-2.69 3.14%	82.81	-	14.77	1.01	2.00	1.54	16.36
EVGGF Evolution AB (publ)	- -%	86.00	14.77	13.93	8.16	3.41	6.59	9.66

Profile*

Churchill Downs Incorporated

Address

600 North Hurstbourne Parkway, Louisville, KY, United States, 40222

Contact

502 636 4400

Website

https://www.churchilldownsincorporated.com

Employees

6600

Name	Title	Year Born
Mr. William C. Carstanjen	CEO & Director	1968
Mr. William E. Mudd	Pres & COO	1971
Ms. Marcia Ann Dall CPA	Exec. VP & CFO	1964
Mr. Chad E. Dobson	Chief Accounting Officer & VP	NA
Mr. Nate Simon	Sr. VP & CTO	NA
Mr. Nick Zangari	VP of Treasury, Investor Relations & Risk Management	NA
Mr. Bradley K. Blackwell	Sr. VP, Gen. Counsel & Sec.	NA
Mr. Jason Sauer	Sr. VP of Corp. Devel.	NA
Ms. Katherine Armstrong	Sr. VP of HR	NA
Mr. Michael W. Anderson	Sr. VP & Pres of Churchill Downs Racetrack	1971

Disclaimer - (*)This information, including any data, is sourced from Unicorn Data Services SAS, trading as EOD Historical Data (“EODHD”) on an ‘as is’ basis, using their API. We cannot guarantee the completeness or validity of the information and data provided on this page, as well as via the API. In some cases, the data may include analyst ratings or recommendations sourced through the EODHD API, which are intended solely for general information purposes.
This information does not consider your personal objectives, financial situation, or needs. Kalkine is not liable for any errors or omissions in the information provided or for any actions taken in reliance on it. You should seek advice from a financial adviser, stockbroker or other professional adviser (including taxation and legal advice) as necessary before acting on this information.

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+0.45%
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