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Churchill Downs CHDN Ratios & Valuation

Income StatementBalance SheetCash FlowRatiosSegments
QuarterlyAnnualTTM
YoYQoQ
SimplifiedDetailed
TTM Q1 '26TTM Q4 '25TTM Q3 '25TTM Q2 '25TTM Q1 '25
Profitability
Operating margin23.5%-2.3pp23.4%-2.5pp23.8%-1.9pp25.3%-0.5pp25.8%+2.9pp
Net margin13.2%-2.0pp13.1%-2.5pp14%-1.5pp15.2%-0.4pp15.2%+1.5pp
EBITDA margin31.3%-2.0pp31.3%-1.9pp31.7%-1.3pp33%+0.2pp33.3%+3.3pp
Free cash flow margin25.2%+0.8pp23.9%-1.3pp24.9%-0.3pp24.9%+2.3pp24.4%+1.7pp
Returns
Return on equity35.9%-8.7pp36.6%-6.6pp37.9%-3.7pp41.6%-1.7pp44.6%-0.1pp
Return on assets5.2%-0.6pp5.2%-0.8pp5.5%-0.4pp5.9%0.0pp5.9%+0.7pp
Return on invested capital18.8%-2.5pp17.8%-2.5pp19.1%-1.6pp20.8%—21.3%—
Efficiency
Asset turnover0.4×0.0×0.4×0.0×0.4×0.0×0.4×0.0×0.4×0.0×
Liquidity
Current ratio0.5×0.0×0.6×0.0×0.6×0.0×0.6×0.0×0.5×0.0×
Quick ratio0.5×0.0×0.6×0.0×0.6×0.0×0.6×0.0×0.5×0.0×
Cash ratio0.3×0.0×0.4×0.0×0.4×0.0×0.4×+0.1×0.3×+0.1×
Leverage
Debt-to-equity1.7×0.0×2.1×+0.3×2×+0.4×1.8×+0.1×1.7×-0.6×
Debt-to-assets0.2×0.0×0.3×0.0×0.3×0.0×0.3×0.0×0.2×0.0×
Net debt / EBITDA1.7×0.0×2×+0.2×1.9×+0.2×1.8×-0.1×1.6×-0.5×
Interest coverage2.3×-0.1×2.3×-0.1×2.3×-0.1×2.4×+0.1×2.5×+0.4×
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%
Enterprise value$7.82B-19.3%$9.76B-14.8%$8.56B-25.3%$8.87B-24.9%$9.69B-9.9%
Price / earnings16.1×-3.2×20.7×-2.3×16.9×-7.2×16.8×-8.4×19.3×-7.4×
Price / sales2.1×-0.8×2.7×-0.9×2.4×-1.4×2.6×-1.4×2.9×-0.7×
Price / book5.7×-1.9×7.9×-1.2×6.6×-2.5×6.9×-3.0×7.6×-3.4×
EV / EBITDA8.5×-2.0×10.6×-2.0×9.4×-3.6×9.5×-4.3×10.4×-3.9×
EV / sales2.7×-0.8×3.3×-0.9×3×-1.3×3.1×-1.4×3.5×-0.8×
Free cash flow yield11.8%+3.5pp8.8%+1.8pp10.6%+3.8pp9.8%+4.0pp8.3%+2.1pp
Earnings yield6.2%+1.0pp4.8%+0.5pp5.9%+1.8pp6%+2.0pp5.2%+1.4pp

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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.