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Churchill Downs CHDN Ratios & Valuation

Income StatementBalance SheetCash FlowRatiosSegments
QuarterlyAnnualTTM
YoYQoQ
SimplifiedDetailed
Q1 '26Q4 '25Q3 '25Q2 '25Q1 '25
Profitability
Operating margin23.5%+0.1pp23.4%-0.5pp23.8%-1.4pp25.3%-0.5pp25.8%-0.2pp
Net margin13.2%+0.1pp13.1%-0.9pp14%-1.2pp15.2%0.0pp15.2%-0.4pp
EBITDA margin31.3%0.0pp31.3%-0.4pp31.7%-1.4pp33%-0.3pp33.3%+0.1pp
Free cash flow margin25.2%+1.3pp23.9%-1.0pp24.9%-0.1pp24.9%+0.5pp24.4%-0.8pp
Returns
Return on equity35.9%-0.7pp36.6%-1.3pp37.9%-3.7pp41.6%-3.0pp44.6%+1.4pp
Return on assets5.2%+0.1pp5.2%-0.3pp5.5%-0.4pp5.9%+0.1pp5.9%-0.1pp
Return on invested capital18.8%+1.0pp17.8%-1.3pp19.1%-1.7pp20.8%-0.5pp21.3%+1.0pp
Efficiency
Asset turnover0.4×0.0×0.4×0.0×0.4×0.0×0.4×0.0×0.4×0.0×
Liquidity
Current ratio0.5×-0.1×0.6×0.0×0.6×0.0×0.6×+0.1×0.5×0.0×
Quick ratio0.5×-0.1×0.6×0.0×0.6×0.0×0.6×+0.1×0.5×0.0×
Cash ratio0.3×0.0×0.4×0.0×0.4×0.0×0.4×0.0×0.3×0.0×
Leverage
Debt-to-equity1.7×-0.4×2.1×+0.1×2×+0.1×1.8×+0.2×1.7×-0.1×
Debt-to-assets0.2×0.0×0.3×0.0×0.3×0.0×0.3×0.0×0.2×0.0×
Net debt / EBITDA1.7×-0.3×2×+0.1×1.9×+0.2×1.8×+0.1×1.6×-0.2×
Interest coverage2.3×0.0×2.3×0.0×2.3×-0.1×2.4×0.0×2.5×0.0×
Per Share
Book value per share$15.66+11.3%$14.07-3.5%$14.58+1.2%$14.41-0.6%$14.49-0.3%
Valuation
Market capitalization$6.26B-21.1%$7.93B+16.6%$6.8B-5.9%$7.23B-11.4%$8.16B-16.8%
Enterprise value$7.82B-19.9%$9.76B+14.0%$8.56B-3.5%$8.87B-8.5%$9.69B-15.4%
Price / earnings16.1×-4.6×20.7×+3.8×16.9×+0.1×16.8×-2.5×19.3×-3.7×
Price / sales2.1×-0.6×2.7×+0.4×2.4×-0.2×2.6×-0.4×2.9×-0.7×
Price / book5.7×-2.1×7.9×+1.3×6.6×-0.4×6.9×-0.7×7.6×-1.4×
EV / EBITDA8.5×-2.2×10.6×+1.3×9.4×-0.1×9.5×-0.9×10.4×-2.2×
EV / sales2.7×-0.7×3.3×+0.4×3×-0.2×3.1×-0.3×3.5×-0.7×
Free cash flow yield11.8%+3.0pp8.8%-1.7pp10.6%+0.8pp9.8%+1.4pp8.3%+1.3pp
Earnings yield6.2%+1.4pp4.8%-1.1pp5.9%0.0pp6%+0.8pp5.2%+0.8pp

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Questions, answered.

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.