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

Simplified Detailed

	FY'25	FY'24	FY'23	FY'22
Profitability
Operating margin	23.4%-2.5pp	25.9%+3.0pp	22.9%+5.1pp	17.8%0.0pp
Net margin	13.1%-2.5pp	15.6%-1.3pp	17%-7.3pp	24.3%+8.7pp
EBITDA margin	31.3%-1.9pp	33.2%+3.4pp	29.8%+5.7pp	24.1%-0.2pp
Free cash flow margin	23.9%-1.3pp	25.2%+3.7pp	21.4%-4.0pp	25.5%-0.8pp
Returns
Return on equity	36.6%-6.6pp	43.2%-14.6pp	57.8%-44.6pp	102.4%+28.5pp
Return on assets	5.2%-0.8pp	6%-0.3pp	6.3%-3.2pp	9.6%+1.2pp
Return on invested capital	17.8%-2.5pp	20.3%+3.6pp	16.7%—	——
Efficiency
Asset turnover	0.4×0.0×	0.4×0.0×	0.4×0.0×	0.4×-0.1×
Liquidity
Current ratio	0.6×0.0×	0.6×0.0×	0.5×0.0×	0.6×-0.7×
Quick ratio	0.6×0.0×	0.5×0.0×	0.5×0.0×	0.6×-0.7×
Cash ratio	0.4×0.0×	0.3×+0.1×	0.3×0.0×	0.3×-0.6×
Leverage
Debt-to-equity	2.1×+0.3×	1.8×-0.3×	2×-1.9×	3.9×+3.8×
Debt-to-assets	0.3×0.0×	0.3×0.0×	0.3×-0.1×	0.4×+0.3×
Net debt / EBITDA	2×+0.2×	1.8×-0.4×	2.2×-2.3×	4.5×+5.3×
Interest coverage	2.3×-0.1×	2.4×+0.3×	2.1×-0.1×	2.2×-1.2×
Per Share
Book value per share	$14.07-3.2%	$14.53+23.7%	$11.74+63.9%	$7.16+83.0%
Valuation
Market capitalization	$7.93B-19.2%	$9.81B-2.5%	$10.07B+155%	$3.95B-14.2%
Enterprise value	$9.76B-14.8%	$11.46B-1.8%	$11.67B+96.9%	$5.93B+38.0%
Price / earnings	20.7×-2.3×	23×-1.1×	24.1×+15.1×	9×-9.5×
Price / sales	2.7×-0.9×	3.6×-0.5×	4.1×+1.9×	2.2×-0.7×
Price / book	7.9×-1.2×	9.1×-2.2×	11.3×+4.1×	7.2×-7.8×
EV / EBITDA	10.6×-2.0×	12.6×-3.3×	15.9×+2.3×	13.6×+2.5×
EV / sales	3.3×-0.9×	4.2×-0.6×	4.7×+1.5×	3.3×+0.6×
Free cash flow yield	8.8%+1.8pp	7%+1.8pp	5.2%-6.4pp	11.6%+2.5pp
Earnings yield	4.8%+0.5pp	4.3%+0.2pp	4.1%-7.0pp	11.1%+5.7pp

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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.