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Churchill Downs Incorporated

Consumer Cyclical US CHDN

89.235USD
2.40(2.76%)

Last update at 2026-06-09T16:03:00Z

Day Range

87.1489.89
LowHigh

52 Week Range

80.24118.35
LowHigh

Fundamentals

  • Previous Close 86.84
  • Market Cap6331.22M
  • Volume137968
  • P/E Ratio17.17
  • Dividend Yield0.47%
  • EBITDA956.70M
  • Revenue TTM2925.90M
  • Revenue Per Share TTM40.98
  • Gross Profit TTM 982.60M
  • Diluted EPS TTM5.29

Source: TradingView
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Analyst Recommendations

Financials

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 -2.50000M -2.30000M 0.00000M 0.00000M 0.00000M
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
Selling and marketing expenses - - - - -
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
Interest income - - - - -
Net interest income -297.70000M -289.80000M -268.40000M -147.30000M -84.70000M
Extraordinary items - - - - -
Non recurring - - - 38.30M 15.30M
Other items - - - - -
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 -204.00000M -135.80000M -2.20000M 46.90M -107.90000M
Discontinued operations - - - - -
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
Preferred stock and other adjustments - - - - -
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
Earning assets - - - - -
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
Common stock - - - - -
Capital stock 0.00000M 0.00000M 0.00000M 0.00000M 0.00000M
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
Cash and equivalents - - - - -
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 - -1.00000M - -0.90000M -0.90000M
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 - - - -2564.10000M -408.10000M
Short term investments - - - - -
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
Total permanent equity - - - - -
Noncontrolling interest in consolidated entity - - - - -
Temporary equity redeemable noncontrolling interests - - - - -
Accumulated other comprehensive income -1.00000M -1.00000M -0.90000M -0.90000M -0.90000M
Additional paid in capital - - - - -
Common stock total equity - - - - -
Preferred stock total equity - - - - -
Retained earnings total equity - - - 552.40M 307.70M
Treasury stock - - - - -
Accumulated amortization - - - - -
Non currrent assets other 2626.70M 18.30M -75.60000M 109.00M 106.70M
Deferred long term asset charges - - - - -
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 - -545.20000M -3546.20000M -3103.70000M -100.40000M
Change to liabilities - - - 15.50M 23.60M
Total cashflows from investing activities -471.50000M -545.20000M -718.00000M -3103.70000M -100.40000M
Net borrowings 214.10M 53.80M 237.10M 2643.00M 332.50M
Total cash from financing activities -262.50000M -196.60000M 129.30M 2416.00M -0.50000M
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 -150.90000M 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
Issuance of capital stock - - - - -
Depreciation 239.50M 204.70M 175.20M 119.00M 108.50M
Other cashflows from investing activities -286.20000M -545.20000M 199.80M -2680.20000M -8.60000M
Dividends paid 30.80M 29.20M 27.10M -26.00000M -24.80000M
Change to inventory - - - - -
Change to account receivables - - - - -
Sale purchase of stock -427.80000M -186.00000M -55.90000M -174.90000M -297.50000M
Other cashflows from financing activities -17.70000M -35.20000M -24.80000M 2822.30M -17.60000M
Change to netincome - - - -58.20000M -99.60000M
Capital expenditures 274.90M 547.00M 676.50M 456.80M 91.80M
Change receivables - - - - -
Cash flows other operating - - - 465.80M 308.30M
Exchange rate changes - - - - -
Cash and cash equivalents changes - - - -176.90000M 358.60M
Change in working capital -5.10000M 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 -74.70000M -198.70000M -137.20000M
Free cash flow 494.90M 225.70M -70.70000M 80.00M 243.70M

Peer Comparison

Sector: Consumer Cyclical Industry: Gambling

Company 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		 2.40 2.76% 89.23 17.17 25.32 2.16 6.27 3.85 10.54
GRKZF
Greek Organization of Football Prognostics S.A		 - -% 15.25 14.78 8.71 2.21 24.39 6.70 13.17
ARLUF
Aristocrat Leisure Limited		 - -% 33.85 26.33 19.23 3.10 4.56 4.80 11.38
FLUT
Flutter Entertainment plc		 6.12 5.83% 111.07 - 14.10 1.16 2.11 1.72 14.19
EVVTY
Evolution Gaming Group AB ADR		 0.97 1.32% 74.61 11.33 10.92 6.79 2.87 5.37 7.86

Reports Covered

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Profile

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.

Churchill Downs Incorporated

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

Key Executives

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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