CHDN

Churchill Downs Incorporated

Fundamental data last updated:October 6, 2026

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company profile

SECTOR

Consumer Cyclical

industry

Gambling, Resorts & Casinos

Exchange

NASDAQ

County of HQ

US

Next Earnings Date

Pending Announcement

Business Summary

Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. It operates through three segments: Live and Historical Racing, TwinSpires, and Gaming. As of December 31, 2021, the company owned and operated three pari-mutuel gaming entertainment venues with approximately 3,050 historical racing machines (HRMs) in Kentucky; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; nine retail sportsbooks; and casino gaming in eight states with approximately 11,000 slot machines and video lottery terminals, and 200 table games. It also offers streaming video of live horse races, replays, and an assortment of racing and handicapping information; and provides the Bloodstock Research Information Services platform for horse racing statistical data. In addition, the company manufactures and operates pari-mutuel wagering systems for racetracks, off-track betting facilities, and other pari-mutuel wagering businesses. Churchill Downs Incorporated was founded in 1875 and is headquartered in Louisville, Kentucky.

 


Analyze CHDN on TradingView

VALUATION

P/E

15.83

Market Cap ($M USD)

$6.08B

Forward P/E

11.78

PEG

0.34

PRICE TO SALES

2.06

PRICE TO BOOK

5.57

EV / EBITDA

10.36

5-Year Average P/E

Free Cash Flow Yield

11.10%

DCF Value

$194.28

Graham Number

$44.05

Price to FCF

9.01

EV to FCF

16.02

Earnings Yield

6.32%

FCF Yield

11.10%

DIVIDEND

Yield

0.50%

Annual Payout

$0.44

Payout Ratio

8.22%

Consecutive Years of Dividend Growth

5-Year Dividend Growth Rate

Financial Health & Profitability

Earnings Per Share

$5.51

Next Year EPS Growth Estimate

$7.40

Next Year Revenue Growth Estimate

$3.25B

Return on Equity (ROE)

36.88%

FREE CASH FLOW

Operating Margin

23.59%

Debt-to-Equity

5.15

Piotroski F-Score

8

Altman Z-Score

1.47

Return on Invested Capital (ROIC)

10.45%

Current Ratio

0.54

Quick Ratio

0.54

Net Debt to EBITDA

4.53

Interest Coverage

2.34

Gross Profit margin

33.81%

FCF PER SHARE

$9.64

REVENUE PER SHARE

$42.09

Analyze CHDN on TradingView

Gainseekers Quantitative Analysis

Summary

CHDN appears to be a compelling deep value play, with the market significantly undervaluing it relative to its DCF Value of $199.73 and Graham Number of $44.05. The Forward P/E of 11.81 suggests an attractive entry point, especially when coupled with a robust Earnings Yield of 6.25%. However, the Altman Z-score of 1.47 raises red flags about financial distress risk, indicating potential vulnerability. Despite these concerns, the stock’s valuation metrics hint at a mispricing that savvy investors might exploit.

AI Exposure / Tech Reliance

Operating within the Gambling, Resorts & Casinos industry, CHDN is positioned to leverage AI for enhanced customer experiences and operational efficiencies. The sector's reliance on data analytics for customer insights aligns well with AI advancements. However, the company's adaptability to tech shifts remains to be fully tested.

The Bull Case

For the GARP investor, CHDN's allure lies in its impressive ROIC of 10.45% and a strong Piotroski F-Score of 8, signaling efficient capital allocation and financial health. The Free Cash Flow Yield of 10.98% underscores its ability to generate cash, while a solid Operating Margin of 23.59% reflects pricing power. These metrics paint a picture of a company with robust fundamentals and potential for sustainable growth.

The Bear Case

Despite its strengths, CHDN faces significant structural risks. The Debt/Equity ratio of 5.15 is alarmingly high, suggesting potential leverage issues. Additionally, the Current and Quick Ratios both stand at a weak 0.54, indicating liquidity concerns. The Price/Book ratio of 5.63 also suggests the stock might be overvalued relative to its book value, raising caution flags for risk-averse investors.

Market Sentiment & Smart Money

Short Interest %

Analyst Consensus

Buy

Average Analyst Price Target

$144.84

Institutional Ownership %

1-Year Beta

0.73

Insider Buying % (6 Mo)

Distance to 52-Week High

35.83%

Distance to 52-Week Low

7.99%

EARNINGS SURPRISE %

14.15%

50-DAY SMA

$89.81

200-DAY SMA

$97.74

⚠️ Financial Disclaimer:
This content is for informational purposes only and is not financial advice. Information may be delayed or inaccurate. We may earn a commission from partner links.