(CHDN) Churchill Downs - Overview
Stock: Casino, Wagering, Racing, TwinSpires
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 0.39% |
| Yield on Cost 5y | 0.41% |
| Yield CAGR 5y | -9.98% |
| Payout Consistency | 97.8% |
| Payout Ratio | 8.3% |
| Risk 5d forecast | |
|---|---|
| Volatility | 25.9% |
| Relative Tail Risk | -3.91% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.81 |
| Alpha | -33.53 |
| Character TTM | |
|---|---|
| Beta | 0.614 |
| Beta Downside | 0.698 |
| Drawdowns 3y | |
|---|---|
| Max DD | 41.45% |
| CAGR/Max DD | -0.20 |
Description: CHDN Churchill Downs January 07, 2026
Churchill Downs Incorporated (NASDAQ:CHDN) runs a diversified gambling and entertainment business across three segments: Live & Historical Racing (operating Churchill Downs and historic-racing venues in KY, VA, NH), Wagering Services & Solutions (online platforms such as TwinSpires, BetAmerica, and technology services for third-party operators), and Gaming (casinos, slot machines, table games, and ancillary hospitality services). The company’s revenue streams combine pari-mutuel betting, online sports betting, and casino gaming earnings, all anchored by its historic brand and expanding digital footprint.
Key recent metrics: • 2023 total revenue was approximately $2.5 billion, with a 7 % YoY increase driven largely by a 15 % jump in online wagering volume. • The Gaming segment contributed roughly 55 % of revenue, benefitting from higher discretionary spending and the continued rollout of sports-betting licenses in additional states. • TwinSpires’ active user base grew to over 1.2 million in Q4 2023, reflecting broader industry trends where digital betting platforms capture a growing share of the $30 billion U.S. sports-betting market.
For a deeper dive into CHDN’s valuation metrics and peer comparisons, you might find ValueRay’s analyst tools useful.
Piotroski VR‑10 (Strict, 0-10) 5.5
| Net Income: 403.2m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.08 > 0.02 and ΔFCF/TA 5.79 > 1.0 |
| NWC/Revenue: -10.76% < 20% (prev -12.08%; Δ 1.32% < -1%) |
| CFO/TA 0.11 > 3% & CFO 804.4m > Net Income 403.2m |
| Net Debt (4.93b) to EBITDA (1.00b): 4.91 < 3 |
| Current Ratio: 0.57 > 1.5 & < 3 |
| Outstanding Shares: last quarter (71.0m) vs 12m ago -4.83% < -2% |
| Gross Margin: 33.48% > 18% (prev 0.34%; Δ 3313 % > 0.5%) |
| Asset Turnover: 39.44% > 50% (prev 37.24%; Δ 2.19% > 0%) |
| Interest Coverage Ratio: 2.66 > 6 (EBITDA TTM 1.00b / Interest Expense TTM 294.9m) |
Altman Z'' 1.07
| A: -0.04 (Total Current Assets 414.9m - Total Current Liabilities 725.2m) / Total Assets 7.45b |
| B: 0.14 (Retained Earnings 1.04b / Total Assets 7.45b) |
| C: 0.11 (EBIT TTM 785.2m / Avg Total Assets 7.31b) |
| D: 0.16 (Book Value of Equity 1.03b / Total Liabilities 6.38b) |
| Altman-Z'' Score: 1.07 = BB |
Beneish M -3.09
| DSRI: 0.89 (Receivables 89.7m/93.2m, Revenue 2.88b/2.67b) |
| GMI: 1.03 (GM 33.48% / 34.43%) |
| AQI: 0.99 (AQ_t 0.55 / AQ_t-1 0.55) |
| SGI: 1.08 (Revenue 2.88b / 2.67b) |
| TATA: -0.05 (NI 403.2m - CFO 804.4m) / TA 7.45b) |
| Beneish M-Score: -3.09 (Cap -4..+1) = AA |
What is the price of CHDN shares?
Over the past week, the price has changed by -4.89%, over one month by -17.41%, over three months by -2.75% and over the past year by -23.82%.
Is CHDN a buy, sell or hold?
- StrongBuy: 8
- Buy: 3
- Hold: 0
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the CHDN price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 138.1 | 47.6% |
| Analysts Target Price | 138.1 | 47.6% |
| ValueRay Target Price | 92.3 | -1.3% |
CHDN Fundamental Data Overview February 04, 2026
P/S = 2.3224
P/B = 6.6272
P/EG = 2.58
Revenue TTM = 2.88b USD
EBIT TTM = 785.2m USD
EBITDA TTM = 1.00b USD
Long Term Debt = 5.04b USD (from longTermDebt, last quarter)
Short Term Debt = 63.1m USD (from shortTermDebt, last quarter)
Debt = 5.11b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 4.93b USD (from netDebt column, last quarter)
Enterprise Value = 11.62b USD (6.70b + Debt 5.11b - CCE 180.5m)
Interest Coverage Ratio = 2.66 (Ebit TTM 785.2m / Interest Expense TTM 294.9m)
EV/FCF = 19.69x (Enterprise Value 11.62b / FCF TTM 590.3m)
FCF Yield = 5.08% (FCF TTM 590.3m / Enterprise Value 11.62b)
FCF Margin = 20.47% (FCF TTM 590.3m / Revenue TTM 2.88b)
Net Margin = 13.98% (Net Income TTM 403.2m / Revenue TTM 2.88b)
Gross Margin = 33.48% ((Revenue TTM 2.88b - Cost of Revenue TTM 1.92b) / Revenue TTM)
Gross Margin QoQ = 29.91% (prev 41.96%)
Tobins Q-Ratio = 1.56 (Enterprise Value 11.62b / Total Assets 7.45b)
Interest Expense / Debt = 1.48% (Interest Expense 75.6m / Debt 5.11b)
Taxrate = 35.95% (22.0m / 61.2m)
NOPAT = 502.9m (EBIT 785.2m * (1 - 35.95%))
Current Ratio = 0.57 (Total Current Assets 414.9m / Total Current Liabilities 725.2m)
Debt / Equity = 4.93 (Debt 5.11b / totalStockholderEquity, last quarter 1.03b)
Debt / EBITDA = 4.91 (Net Debt 4.93b / EBITDA 1.00b)
Debt / FCF = 8.34 (Net Debt 4.93b / FCF TTM 590.3m)
Total Stockholder Equity = 1.06b (last 4 quarters mean from totalStockholderEquity)
RoA = 5.51% (Net Income 403.2m / Total Assets 7.45b)
RoE = 38.11% (Net Income TTM 403.2m / Total Stockholder Equity 1.06b)
RoCE = 12.87% (EBIT 785.2m / Capital Employed (Equity 1.06b + L.T.Debt 5.04b))
RoIC = 8.34% (NOPAT 502.9m / Invested Capital 6.03b)
WACC = 5.05% (E(6.70b)/V(11.80b) * Re(8.18%) + D(5.11b)/V(11.80b) * Rd(1.48%) * (1-Tc(0.36)))
Discount Rate = 8.18% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -3.22%
[DCF Debug] Terminal Value 80.82% ; FCFF base≈415.2m ; Y1≈272.6m ; Y5≈124.4m
Fair Price DCF = N/A (negative equity: EV 3.96b - Net Debt 4.93b = -963.1m; debt exceeds intrinsic value)
EPS Correlation: -41.64 | EPS CAGR: -47.77% | SUE: -4.0 | # QB: 0
Revenue Correlation: 76.50 | Revenue CAGR: 18.20% | SUE: 0.88 | # QB: 1
EPS next Quarter (2026-03-31): EPS=1.08 | Chg30d=+0.159 | Revisions Net=+2 | Analysts=6
EPS next Year (2026-12-31): EPS=6.86 | Chg30d=+0.204 | Revisions Net=+1 | Growth EPS=+12.2% | Growth Revenue=+3.7%