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Churchill Downs Incorporated CHDN

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97.65 USD -1.36 (-1.37%)

At closeNov 3, 2026, 5:15 PM EST

97.65 0.00 0.00%

After hours · Nov 3, 5:15 PM ET

96.84 Day range 99.99
73.09 52-week range 118.35
YTD
-14.18%
1 year
-0.97%

Financial health

Altman Z-Score

1.59 Distress zone

Bankruptcy-risk model: below 1.81 distress, above 2.99 safe.

Piotroski F-Score

7 / 9 Strong

Nine pass/fail tests of profitability, leverage and efficiency.

FMP rating

B+3 / 5 overall

  • DCF 3
  • Return on Equity 5
  • Return on Assets 4
  • Debt / Equity 1
  • P/E 4
  • P/B 2

Valuation

P/E 21.2×
FY 2016: 23.0×FY 2017: 26.0×FY 2018: 9.5×FY 2019: 40.1×FY 2020: -94.6×FY 2021: 37.3×FY 2022: 18.2×FY 2023: 24.3×FY 2024: 23.3×FY 2025: 21.2×
FY 2016 5y median 23.3× FY 2025
P/S 2.8×
FY 2016: 1.9×FY 2017: 4.1×FY 2018: 3.3×FY 2019: 4.1×FY 2020: 7.3×FY 2021: 5.8×FY 2022: 4.4×FY 2023: 4.1×FY 2024: 3.6×FY 2025: 2.8×
FY 2016 5y median 4.1× FY 2025
P/B 8.0×
FY 2016: 3.6×FY 2017: 5.7×FY 2018: 7.1×FY 2019: 10.8×FY 2020: 21.0×FY 2021: 30.3×FY 2022: 14.5×FY 2023: 11.4×FY 2024: 9.1×FY 2025: 8.0×
FY 2016 5y median 11.4× FY 2025
P/FCF 26.0×
FY 2016: 14.5×FY 2017: 36.1×FY 2018: 69.4×FY 2019: 43.6×FY 2020: -83.6×FY 2021: 38.2×FY 2022: 100×FY 2023: -144×FY 2024: 43.8×FY 2025: 26.0×
FY 2016 5y median 38.2× FY 2025
EV/EBITDA 12.1×
FY 2016: 10.5×FY 2017: 17.8×FY 2018: 12.2×FY 2019: 18.7×FY 2020: 49.9×FY 2021: 20.4×FY 2022: 14.3×FY 2023: 14.8×FY 2024: 13.7×FY 2025: 12.1×
FY 2016 5y median 14.3× FY 2025
EV/Sales 4.4×
FY 2016: 2.6×FY 2017: 5.4×FY 2018: 4.1×FY 2019: 5.2×FY 2020: 8.8×FY 2021: 6.9×FY 2022: 6.9×FY 2023: 6.0×FY 2024: 5.3×FY 2025: 4.4×
FY 2016 5y median 6.0× FY 2025
FCF Yield 3.8%
FY 2016: 6.9%FY 2017: 2.8%FY 2018: 1.4%FY 2019: 2.3%FY 2020: -1.2%FY 2021: 2.6%FY 2022: 1.0%FY 2023: -0.7%FY 2024: 2.3%FY 2025: 3.8%
FY 2016 5y median 2.3% FY 2025

Profitability

Gross Margin 33.6%
FY 2016: 24.1%FY 2017: 28.6%FY 2018: 28.7%FY 2019: 25.8%FY 2020: 18.4%FY 2021: 27.9%FY 2022: 31.3%FY 2023: 32.3%FY 2024: 34.3%FY 2025: 33.6%
FY 2016 5y median 32.3% FY 2025
Operating Margin 25.2%
FY 2016: 14.8%FY 2017: 16.5%FY 2018: 18.7%FY 2019: 16.2%FY 2020: 5.7%FY 2021: 17.8%FY 2022: 17.8%FY 2023: 22.9%FY 2024: 25.9%FY 2025: 25.2%
FY 2016 5y median 22.9% FY 2025
Net Margin 13.0%
FY 2016: 8.3%FY 2017: 15.9%FY 2018: 35.0%FY 2019: 10.3%FY 2020: -7.8%FY 2021: 15.6%FY 2022: 24.3%FY 2023: 17.0%FY 2024: 15.6%FY 2025: 13.0%
FY 2016 5y median 15.6% FY 2025
ROE 37.6%
FY 2016: 15.8%FY 2017: 21.9%FY 2018: 74.5%FY 2019: 27.1%FY 2020: -22.3%FY 2021: 81.2%FY 2022: 79.7%FY 2023: 46.7%FY 2024: 39.4%FY 2025: 37.6%
FY 2016 5y median 46.7% FY 2025
ROIC 7.8%
FY 2016: 6.9%FY 2017: 7.6%FY 2018: 10.0%FY 2019: 6.8%FY 2020: 2.7%FY 2021: 7.9%FY 2022: 4.1%FY 2023: 6.7%FY 2024: 8.0%FY 2025: 7.8%
FY 2016 5y median 7.8% FY 2025
ROA 5.1%
FY 2016: 4.8%FY 2017: 6.0%FY 2018: 20.4%FY 2019: 5.4%FY 2020: -3.0%FY 2021: 8.4%FY 2022: 7.1%FY 2023: 6.0%FY 2024: 5.9%FY 2025: 5.1%
FY 2016 5y median 6.0% FY 2025

Growth (YoY)

Revenue 7.0%
FY 2016: 7.9%FY 2017: -32.6%FY 2018: 14.3%FY 2019: 31.8%FY 2020: -20.7%FY 2021: 51.5%FY 2022: 13.3%FY 2023: 36.0%FY 2024: 11.1%FY 2025: 7.0%
FY 2016 FY 2025
Operating Income 3.9%
FY 2016: 57.1%FY 2017: -25.0%FY 2018: 29.6%FY 2019: 14.2%FY 2020: -72.1%FY 2021: 372.4%FY 2022: 13.2%FY 2023: 75.3%FY 2024: 25.7%FY 2025: 3.9%
FY 2016 FY 2025
EPS (diluted) -6.3%
FY 2016: 72.6%FY 2017: 36.4%FY 2018: 190.4%FY 2019: -60.1%FY 2020: -160.9%FY 2021: 408.7%FY 2022: 79.6%FY 2023: -4.0%FY 2024: 3.6%FY 2025: -6.3%
FY 2016 FY 2025
Free Cash Flow 37.2%
FY 2016: -22.5%FY 2017: -40.3%FY 2018: -52.2%FY 2019: 161.0%FY 2020: -173.1%FY 2021: 364.0%FY 2022: -67.2%FY 2023: -188.4%FY 2024: 419.2%FY 2025: 37.2%
FY 2016 FY 2025

Financial Health

Current Ratio 0.6×
FY 2016: 0.5×FY 2017: 0.6×FY 2018: 0.9×FY 2019: 0.7×FY 2020: 0.6×FY 2021: 1.3×FY 2022: 0.6×FY 2023: 0.5×FY 2024: 0.6×FY 2025: 0.6×
FY 2016 5y median 0.6× FY 2025
Quick Ratio 0.6×
FY 2016: 0.5×FY 2017: 0.6×FY 2018: 0.9×FY 2019: 0.7×FY 2020: 0.6×FY 2021: 1.3×FY 2022: 0.6×FY 2023: 0.5×FY 2024: 0.5×FY 2025: 0.6×
FY 2016 5y median 0.6× FY 2025
Debt / Equity 5.1×
FY 2016: 1.3×FY 2017: 1.8×FY 2018: 1.9×FY 2019: 2.9×FY 2020: 4.4×FY 2021: 6.4×FY 2022: 8.4×FY 2023: 5.4×FY 2024: 4.5×FY 2025: 5.1×
FY 2016 5y median 5.4× FY 2025
Net Debt / EBITDA 4.6×
FY 2016: 2.8×FY 2017: 4.0×FY 2018: 2.2×FY 2019: 3.7×FY 2020: 8.4×FY 2021: 3.1×FY 2022: 5.1×FY 2023: 4.7×FY 2024: 4.4×FY 2025: 4.6×
FY 2016 5y median 4.6× FY 2025
Interest Coverage 2.5×
FY 2016: 4.4×FY 2017: 3.0×FY 2018: 4.7×FY 2019: 3.0×FY 2020: 0.8×FY 2021: 3.4×FY 2022: 2.2×FY 2023: 2.1×FY 2024: 2.4×FY 2025: 2.5×
FY 2016 5y median 2.4× FY 2025

Dividends

Dividend Yield 0.4%
FY 2016: 0.8%FY 2017: 0.6%FY 2018: 0.7%FY 2019: 0.4%FY 2020: 0.3%FY 2021: 0.3%FY 2022: 0.3%FY 2023: 0.3%FY 2024: 0.3%FY 2025: 0.4%
FY 2016 5y median 0.3% FY 2025
Payout Ratio 8.1%
FY 2016: 17.7%FY 2017: 15.3%FY 2018: 6.7%FY 2019: 16.1%FY 2020: -28.6%FY 2021: 10.0%FY 2022: 5.9%FY 2023: 6.5%FY 2024: 6.8%FY 2025: 8.1%
FY 2016 5y median 6.8% FY 2025

Annual · latest fiscal year ends 2025-12-31