CompanyGraph
Churchill Downs Incorporated
CHDN · United States
churchilldownsincorporated.comFinancials as of FY2025
What stands out
- Returns appear driven by leverage
At a glance
- Depends onUpstream position: supplies 5 industries, depends on 1
- ScaleMarket cap is $5.85B, above the global median of $1.15B
- FinancialsAltman Z-Score 1.45: grey zone
- Interpretations8 currently firing — 1 · 7
Sign in to view price data.
Sign inWhat the company actually pays, and whether its own cash supports it.
Dividends view
Yield
0.52%Above 5Y avg (0.33%)
Annual Rate
USD 0.44Paid annual
Payout Ratio
8.1%Sustainable
Consecutive Growth
15 yrStrong track record
Paying Dividends
33 yr
Last Ex-Dividend
Dec 5, 2025
Last Payment
Jan 6, 2026
Screen for this company's dividend patterns
Find other companies where the same dividend readings fire.
Buyback-to-OCF Elevated With Dividend Coverage-Stability Composite And 5-Year Buyback-to-Market-Cap Yield Elevated
→buyback intensity
dividend coverage and payment stability
share repurchase yield
1 interpretation currently present — each is a set of fired observations whose alignment reads as one structural pattern. Click an observation to see the numbers behind it.
Screen for these patternsHow does this company return capital?
Buyback-to-OCF Elevated With Dividend Coverage-Stability Composite And 5-Year Buyback-to-Market-Cap Yield Elevated
Buybacks take a large share of its cash flow, and it pays a dividend too.
Reads
An interpretation is present only while every observation it reads stays fired (score ≥ 70). It describes what the aligned readings show — never a verdict, never a prediction.
The reported statements, read against the company's own industry.
What stands out
- Returns appear driven by leverage
Financials view
Market Capitalization
5.85BUSDvs all stocks (USD)
Trailing P/E
15.89xvs Gambling peers
Revenue (TTM)
2.95BUSDvs all stocks (USD)
Profit Margin
13.21%vs Gambling peers
Beta
0.6690xvs all stocks
52-Week Change
-20.55%vs all stocks
Market Capitalization
5.85BUSDvs all stocks (USD)
Enterprise Value
10.76BUSDvs all stocks (USD)
Trailing P/E
15.89xvs Gambling peers
Forward P/E
11.84xvs Gambling peers
PEG Ratio
1.16xvs Gambling peers
Price to Sales (TTM)
2.04xvs Gambling peers
Price to Book (MRQ)
5.49xvs Gambling peers
Enterprise to Revenue
3.65xvs Gambling peers
Enterprise to EBITDA
11.18xvs Gambling peers
Gross Margin
30.62%vs Gambling peers
Profit Margin
13.21%vs Gambling peers
Operating Margin
21.72%vs Gambling peers
Return on Assets (TTM)
6.28%vs Gambling peers
Return on Equity (TTM)
35.00%vs Gambling peers
Revenue (TTM)
2.95BUSDvs all stocks (USD)
Revenue per Share (TTM)
41.84USDUpdated Jul 18, 2026Quarterly Revenue Growth
3.10%vs Gambling peers
Gross Profit (TTM)
995.60MUSDvs all stocks (USD)
EBITDA (TTM)
1.14BUSDvs all stocks (USD)
Net Income (TTM)
388.00MUSDvs all stocks (USD)
Quarterly Earnings Growth (YoY)
7.80%vs Gambling peers
Operating Cash Flow (TTM)
817.80MUSDvs all stocks (USD)
Levered Free Cash Flow (TTM)
125.11MUSDvs all stocks (USD)
Trailing Annual Dividend Rate
0.4380USDUpdated Jul 18, 2026Trailing Annual Dividend Yield
0.52%vs all stocks
5-Year Average Dividend Yield
0.33%vs all stocks
Payout Ratio
8.07%vs Gambling peers
Minority Interest (Equity)
46.10MUSDFY2025 · Dec 31, 2025Revenue
2.93BUSDFY2025 · Dec 31, 2025Cost of Goods Sold
1.94BUSDFY2025 · Dec 31, 2025Gross Profit
982.60MUSDFY2025 · Dec 31, 2025Operating Income
736.40MUSDvs all stocks (USD)
Pre-tax Income
532.40MUSDFY2025 · Dec 31, 2025Income Tax Expense
146.90MUSDFY2025 · Dec 31, 2025Net Income
385.50MUSDFY2025 · Dec 31, 2025EBIT
830.10MUSDFY2025 · Dec 31, 2025EBITDA (Income Statement)
1.12BUSDFY2025 · Dec 31, 2025Selling, General & Administrative
246.20MUSDFY2025 · Dec 31, 2025Non-operating Interest Expense
297.70MUSDFY2025 · Dec 31, 2025EPS (Basic)
5.32USDFY2025 · Dec 31, 2025EPS (Diluted)
5.29USDFY2025 · Dec 31, 2025Basic Shares Outstanding
71.40MSharesFY2025 · Dec 31, 2025Diluted Shares Outstanding
71.40MSharesFY2025 · Dec 31, 2025Net Income from Continuing Operations
385.50MUSDFY2025 · Dec 31, 2025Minority Interests (P&L)
-2.50MUSDFY2025 · Dec 31, 2025Operating Cash Flow
705.70MUSDFY2025 · Dec 31, 2025Cash & Cash Equivalents (End of Period)
288.50MUSDFY2025 · Dec 31, 2025Income Tax Paid
63.60MUSDFY2025 · Dec 31, 2025Interest Paid
294.50MUSDFY2025 · Dec 31, 2025Starting Profit (CF Statement)
385.50MUSDFY2025 · Dec 31, 2025Depreciation & Amortization
239.50MUSDFY2025 · Dec 31, 2025Deferred Taxes (CF)
86.80MUSDFY2025 · Dec 31, 2025Stock-based Compensation
30.20MUSDFY2025 · Dec 31, 2025Other Non-cash Items
-31.20MUSDFY2025 · Dec 31, 2025Change in Other Assets/Liabilities
-5.10MUSDFY2025 · Dec 31, 2025Net Intangibles (CF)
-185.30MUSDFY2025 · Dec 31, 2025Net Acquisitions
0.00USDFY2025 · Dec 31, 2025Other Investing Activity
-11.30MUSDFY2025 · Dec 31, 2025Net Investing Cash Flow
-11.30MUSDFY2025 · Dec 31, 2025Long-term Debt Issuance
1.10BUSDFY2025 · Dec 31, 2025Long-term Debt Payments
-881.70MUSDFY2025 · Dec 31, 2025Net Short-term Debt Issuance
-2.30MUSDFY2025 · Dec 31, 2025Common Stock Repurchase
-427.80MUSDFY2025 · Dec 31, 2025Common Dividends Paid
-30.80MUSDFY2025 · Dec 31, 2025Other Financing Charges
-18.00MUSDFY2025 · Dec 31, 2025Net Financing Cash Flow
-262.50MUSDFY2025 · Dec 31, 2025Shares Outstanding
69.70MSharesUpdated Jul 18, 2026Float Shares
65.78MSharesUpdated Jul 18, 2026Shares Short
3.72MSharesUpdated Jul 18, 2026Short Ratio
3.54daysvs all stocks
Short % of Shares Outstanding
5.66%vs all stocks
% Held by Insiders
5.91%vs all stocks
% Held by Institutions
84.71%vs all stocks
Total Cash (MRQ)
200.00MUSDvs all stocks (USD)
Total Cash per Share (MRQ)
2.87USDUpdated Jul 18, 2026Total Debt (MRQ)
5.01BUSDvs all stocks (USD)
Total Debt to Equity (MRQ)
4.38xvs Gambling peers
Current Ratio (MRQ)
0.5410xvs Gambling peers
Book Value per Share (MRQ)
15.72USDUpdated Jul 18, 2026Total Assets
7.48BUSDvs all stocks (USD)
Total Current Assets
443.20MUSDFY2025 · Dec 31, 2025Total Liabilities
6.43BUSDFY2025 · Dec 31, 2025Total Non-current Assets
7.04BUSDFY2025 · Dec 31, 2025Total Non-current Liabilities
5.70BUSDFY2025 · Dec 31, 2025Total Current Liabilities
733.30MUSDFY2025 · Dec 31, 2025Cash & Cash Equivalents
200.60MUSDFY2025 · Dec 31, 2025Accounts Receivable
34.50MUSDFY2025 · Dec 31, 2025Inventory
11.90MUSDFY2025 · Dec 31, 2025Accounts Payable
184.30MUSDFY2025 · Dec 31, 2025Short-term Debt
71.50MUSDFY2025 · Dec 31, 2025Deferred Revenue
54.70MUSDFY2025 · Dec 31, 2025Other Current Liabilities
158.30MUSDFY2025 · Dec 31, 2025Long-term Debt
5.07BUSDFY2025 · Dec 31, 2025Other Non-current Liabilities
93.00MUSDFY2025 · Dec 31, 2025Common Stock (Book)
0.00USDFY2025 · Dec 31, 2025Retained Earnings
1.01BUSDFY2025 · Dec 31, 2025Total Shareholders' Equity
1.06BUSDvs all stocks (USD)
52-Week Low
80.24USDUpdated Jul 18, 202652-Week High
118.46USDUpdated Jul 18, 202652-Week Change
-20.55%vs all stocks
Beta
0.6690xvs all stocks
50-Day MA
87.38USDUpdated Jul 18, 2026200-Day MA
95.74USDUpdated Jul 18, 2026Avg 10-Day Volume
790.87KSharesUpdated Jul 18, 2026Avg 30-Day Volume
982.09KSharesUpdated Jul 18, 2026Diluted EPS (TTM)
5.43USDUpdated Jul 18, 2026Other Income / Expense
93.70MUSDFY2025 · Dec 31, 20257 interpretations currently present — each is a set of fired observations whose alignment reads as one structural pattern. Click an observation to see the numbers behind it.
Screen for these patternsHow does this company use capital?
Diagnostic
Rising Operating Income With Low Depreciation on a Capital-Heavy Balance Sheet
Operating income rose four years, with small depreciation on a capital-heavy balance sheet.
Reads
Operating Income Growing With Multi-Year Revenue Growth
Revenue up in each of five years, with operating income up in each of four.
Reads
Three Turnover Ratios Elevated
Collects fast, clears inventory fast, and pays suppliers fast too.
Reads
Is this company growing?
Multi-Year Revenue, Profit, And Income Growth
Revenue has risen in each of three years, gross profit in each of four, and it has made a profit in all five.
Reads
How is this stock valued?
Close Below 40W SMA With Profitability
The price sits below its 40-week average, on three profitable years and cash above profit.
Reads
Where is this company structurally exposed?
Within or Near the Altman Distress Zone
Debt is a large share of its assets, and large against its cash flow.
Reads
Elevated Leverage on Three Denominators
Debt sits high against its equity, its assets, and its cash flow.
Reads
An interpretation is present only while every observation it reads stays fired (score ≥ 70). It describes what the aligned readings show — never a verdict, never a prediction.
Shared structure with peers — never a ranking.
Relationships view
Structural observations derived from financial data, industry benchmarks, and supply chain position.
Structural Tensions
Returns appear driven by leverageSignificant
Return on Equity: 0.35Debt-to-Equity: 4.38
Financial Health
Altman Z-Score 1.45: grey zoneSignificant
Altman Z-Score: 1.45
High earnings qualityNotable
Earnings Quality Score: 1.64
Supply Chain
Upstream position: supplies 5 industries, depends on 1Notable
Outgoing: 5.00Incoming: 1.00
Scale
Market cap is $5.85B, above the global median of $1.15BNotable
Market cap (USD): 5,851,055,426Global Median: 1,146,734,693.424
Revenue is $2.95B, above the global median of $520.53MNotable
Revenue (USD): 2,945,900,032Global Median: 520,528,949.311
Levered free cash flow is $125.11M, above the global median of $16.24MNotable
Levered free cash flow (USD): 125,112,496Global Median: 16,239,329.704
Companies that share the same coordination system — how they create, deliver, or capture value.
Caesars Entertainment, Inc.
Tier 1AttentionPerishable CapacityRuleProduction
Lottomatica Group S.p.A.
Tier 1AttentionPerishable CapacityRuleRisk
Vail Resorts Inc.
Tier 1AttentionPerishable CapacityProductionRule
Boyd Gaming Corporation
Tier 1AttentionPerishable CapacityRuleProduction
Red Rock Resorts Inc.
Tier 1AttentionPerishable CapacityRuleProduction
Light & Wonder, Inc.
Tier 1AttentionPerishable CapacityRuleProduction
FDJ United
Tier 1AttentionPerishable CapacityRuleRisk
Super Group (SGHC) Limited
Tier 1AttentionPerishable CapacityRuleRisk
Rush Street Interactive Inc.
Tier 1AttentionPerishable CapacityRuleInterface
Wynn Macau Ltd.
Tier 1AttentionPerishable CapacityProductionRule
Companies that share active interpretations — structural patterns currently present in both stocks.
Planet Fitness Inc.
6 interpretationsRising Operating Income With Low Depreciation on a Capital-Heavy Balance SheetThree Turnover Ratios ElevatedOperating Income Growing With Multi-Year Revenue GrowthMulti-Year Revenue, Profit, And Income GrowthClose Below 40W SMA With ProfitabilityWithin or Near the Altman Distress Zone
Ecorodovias Infraestrutura e Logística S.A.
5 interpretationsRising Operating Income With Low Depreciation on a Capital-Heavy Balance SheetElevated Leverage on Three DenominatorsOperating Income Growing With Multi-Year Revenue GrowthMulti-Year Revenue, Profit, And Income GrowthClose Below 40W SMA With Profitability
Eagle High Plantations Tbk
4 interpretationsRising Operating Income With Low Depreciation on a Capital-Heavy Balance SheetElevated Leverage on Three DenominatorsOperating Income Growing With Multi-Year Revenue GrowthWithin or Near the Altman Distress Zone