Where do Churchill Downs's ratios come from?

Every ratio is computed from Churchill Downs's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

Churchill Downs CHDN Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	Q1 '26	Q4 '25	Q3 '25	Q2 '25	Q1 '25
Profitability
Operating margin	23.5%-2.3pp	23.4%-2.5pp	23.8%-1.9pp	25.3%-0.5pp	25.8%+2.9pp
Net margin	13.2%-2.0pp	13.1%-2.5pp	14%-1.5pp	15.2%-0.4pp	15.2%+1.5pp
Returns
Return on equity	35.9%-8.7pp	36.6%-6.6pp	37.9%-3.7pp	41.6%-1.7pp	44.6%-0.1pp
Return on invested capital	18.8%-2.5pp	17.8%-2.5pp	19.1%-1.6pp	20.8%-1.3pp	21.3%+3.7pp
Efficiency
Asset turnover	0.4×0.0×	0.4×0.0×	0.4×0.0×	0.4×0.0×	0.4×0.0×
Liquidity
Current ratio	0.5×0.0×	0.6×0.0×	0.6×0.0×	0.6×0.0×	0.5×0.0×
Leverage
Debt-to-equity	1.7×0.0×	2.1×+0.3×	2×+0.4×	1.8×+0.1×	1.7×-0.6×
Net debt / EBITDA	1.7×0.0×	2×+0.2×	1.9×+0.2×	1.8×-0.1×	1.6×-0.5×
Per Share
Book value per share	$15.66+8.1%	$14.07-3.2%	$14.58-0.9%	$14.41+4.3%	$14.49+30.9%
Valuation
Market capitalization	$6.26B-23.3%	$7.93B-19.2%	$6.8B-31.5%	$7.23B-29.6%	$8.16B-10.5%
Price / earnings	16.1×-3.2×	20.7×-2.3×	16.9×-7.2×	16.8×-8.4×	19.3×-7.4×
Price / sales	2.1×-0.8×	2.7×-0.9×	2.4×-1.4×	2.6×-1.4×	2.9×-0.7×
Price / book	5.7×-1.9×	7.9×-1.2×	6.6×-2.5×	6.9×-3.0×	7.6×-3.4×
EV / EBITDA	8.5×-2.0×	10.6×-2.0×	9.4×-3.6×	9.5×-4.3×	10.4×-3.9×

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Where do Churchill Downs's ratios come from?: Every ratio is computed from Churchill Downs's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.