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Churchill Downs CHDN Return on invested capital

Return on invested capital at other companies

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-159.4%
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-0.6%-6.8pp

Other financials

Income statement

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Revenue$663.0M+3.1%
Operating income$143.0M+5.9%
Net income$83.0M+7.8%
EPS (diluted)$1.16+13.7%

Balance sheet

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Cash & equivalents$291.0M+7.4%
Total debt$1.8B+2.6%
Total equity$1.1B+2.2%
Total assets$7.5B+1.9%

Cash flow

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Operating cash flow$295.0M+19.4%
CapEx$19.0M+46.2%
Free cash flow$276.0M+17.9%

Valuation

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Market cap$6.15B-23.3%
Enterprise value$7.71B-19.3%
P/E15.8×-3.1×
P/S2.1×-0.8×

Profitability

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Operating margin23.5%-2.3pp
Net margin13.2%-2.0pp
FCF margin25.2%+0.8pp

Returns & leverage

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Return on equity35.9%-8.7pp
Debt / equity1.7×0.0×
Current ratio0.5×0.0×

Where this comes from

Calculated from Churchill Downs’s reported figures.

Based on trailing twelve months.

The official record: Churchill Downs’s 10-Q, filed April 22, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Churchill Downs's return on invested capital?
Churchill Downs (CHDN) reported return on invested capital of 18.8% in Q1 2026.
How has Churchill Downs's return on invested capital changed year-over-year?
Churchill Downs's return on invested capital decreased by 11.8% year-over-year, from 21.3% to 18.8%.
What is the long-term trend for Churchill Downs's return on invested capital?
Over 3 years (2020 to 2025), Churchill Downs's return on invested capital has grown at a -0.0% compound annual growth rate (CAGR), from 17.8% to 17.8%.
What does return on invested capital mean?
Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.