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Churchill Downs (CHDN) Financials

CHDN NASDAQ
Trailing 12 months to June 30, 2026
Revenue $3.0B +5.7% YoY
Net Income $413.0M -4.2% YoY
EPS (Diluted) $5.86 +0.7% YoY
Free Cash Flow $718.6M +1.8% YoY
Market Cap $5.9B as of Oct 26, 2026
Price / Sales 2.0x on $3.0B revenue, trailing 12 months to June 30, 2026
Price / Earnings 14.2x on $413.0M net income, trailing 12 months to June 30, 2026
Price / Book 4.4x on $1.3B equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 26, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Jul 29, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the CHDN SEC filings page.

Churchill Downs Inc (CHDN) reported $3.0B in revenue over the twelve months to Jun 30, 2026, up 5.7% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI CHDN FY2025

Revenue is still growing, but 2025 profit softened as leverage and interest costs absorbed more of the operating progress.

FY2025 operating cash flow was $769.8M against net income of $383M, so cash output materially exceeded accounting earnings. That conversion rose from 180.8% in FY2024 to 201.0% in FY2025, making reported earnings quality look stronger on a cash basis than the bottom line alone suggests.

Revenue grew 7.0% while operating income fell 3.6%, so incremental sales did not translate into operating profit. Operating margin fell 2.6 percentage points to 23.4%, reversing part of FY2024's expansion and showing weaker operating efficiency rather than a scale-led step-up.

The balance sheet remains heavily financed: liabilities were 85.9% of assets and debt-to-equity was 5.0x in FY2025. Free cash flow rose 1.7% while capital expenditures fell 16.0%, meaning the cash result was supported partly by reduced reinvestment.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity CashFlow Returns 53 / 100
Financial Health Score 53/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Churchill Downs Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability
78

Churchill Downs Inc has an operating margin of 23.4%, meaning the company retains $23 of operating profit per $100 of revenue. This strong profitability earns a score of 78/100, reflecting efficient cost management and pricing power. This is down from 25.9% the prior year.

Growth
62

Churchill Downs Inc's revenue grew 7.0% year-over-year to $2.9B, a solid pace of expansion. This earns a growth score of 62/100.

Leverage
10

Churchill Downs Inc has elevated debt relative to equity (D/E of 5.02), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 10/100, reflecting increased financial risk.

Liquidity
6

Churchill Downs Inc's current ratio of 0.60 is below the typical benchmark, resulting in a score of 6/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Cash Flow
89

Churchill Downs Inc converts 23.9% of revenue into free cash flow ($699.6M). This strong cash generation earns a score of 89/100.

Returns
71

Churchill Downs Inc earns a strong 37.9% return on equity (ROE), meaning it generates $38 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 71/100. This is down from 39.4% the prior year.

Altman Z-Score Distress
1.38

Churchill Downs Inc scores 1.38, below the 1.81 distress threshold. The score is pulled down most by current liabilities exceeding current assets by $290.0M against total assets of $7.5B. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial
6/8

Churchill Downs Inc passes 6 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, the one computable operating efficiency signal (asset turnover improving) passes.

Earnings Quality Cash-Backed
2.01x

For every $1 of reported earnings, Churchill Downs Inc generates $2.01 in operating cash flow ($769.8M OCF vs $383.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Adequate
2.30x

Churchill Downs Inc earns $2.30 in operating income for every $1 of interest expense ($683.8M vs $297.7M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.

Key Financial Metrics

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Earnings & Revenue

Revenue
$980.0M
YoY+4.9%
QoQ+47.8%
5Y CAGR+13.7%
10Y CAGR+12.1%

Churchill Downs Inc generated $980.0M in revenue in Q2 2026. This represents an increase of 4.9% from the same quarter a year earlier. Against the prior quarter it is up 47.8%.

EBITDA
$416.0M
YoY+8.1%
QoQ+109.0%
5Y CAGR+20.8%
10Y CAGR+11.5%

Churchill Downs Inc's EBITDA was $416.0M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 8.1% from the same quarter a year earlier. Against the prior quarter it is up 109.0%.

Net Income
$241.0M
YoY+11.1%
QoQ+190.4%
5Y CAGR+17.3%

Churchill Downs Inc reported $241.0M in net income in Q2 2026. This represents an increase of 11.1% from the same quarter a year earlier. Against the prior quarter it is up 190.4%.

EPS (Diluted)
$3.42
YoY+14.4%
QoQ+194.8%

Churchill Downs Inc earned $3.42 per diluted share (EPS) in Q2 2026. This represents an increase of 14.4% from the same quarter a year earlier. Against the prior quarter it is up 194.8%.

Cash & Balance Sheet

Free Cash Flow
$198.0M
YoY-10.4%
QoQ-28.3%
5Y CAGR-10.6%
10Y CAGR+8.0%

Churchill Downs Inc generated $198.0M in free cash flow in Q2 2026, representing cash available after capex. This represents a decrease of 10.4% from the same quarter a year earlier. Against the prior quarter it is down 28.3%.

Cash & Debt
$196.0M
YoY+7.5%
QoQ-2.0%
5Y CAGR-10.5%
10Y CAGR+13.5%

Churchill Downs Inc held $196.0M in cash against $4.1B in long-term debt as of Q2 2026.

Shares Outstanding
70M
YoY-0.6%
QoQ0.0%

Churchill Downs Inc had 70M shares outstanding in Q2 2026. This represents a decrease of 0.6% from the same quarter a year earlier. It is unchanged from the prior quarter.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Operating Margin
36.4%
YoY+1.4pp
QoQ+14.9pp
5Y change+10.1pp
10Y change+0.2pp

Churchill Downs Inc's operating margin was 36.4% in Q2 2026, reflecting core business profitability. This is up 1.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 14.9 percentage points.

Net Margin
24.6%
YoY+1.4pp
QoQ+12.1pp
5Y change+3.6pp

Churchill Downs Inc's net profit margin was 24.6% in Q2 2026, showing the share of revenue converted to profit. This is up 1.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 12.1 percentage points.

Return on Equity
18.0%
YoY-2.9pp
QoQ+10.4pp
5Y change-16.2pp

Churchill Downs Inc's quarterly ROE was 18.0% in Q2 2026: one quarter's net income over shareholder equity, not annualized. This is down 2.9 percentage points from the same quarter a year earlier. Against the prior quarter it is up 10.4 percentage points.

Gross Margin

Not reported for Q2 2026.

Capital Allocation

Share Buybacks
$0
YoY-100.0%
QoQn/m
5Y CAGRn/m

Churchill Downs Inc repurchased no shares in Q2 2026. This represents a decrease of 100.0% from the same quarter a year earlier. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.

Capital Expenditures
$19.0M
YoY0.0%
QoQ0.0%
5Y CAGR+18.0%
10Y CAGR+8.5%

Churchill Downs Inc invested $19.0M in capex in Q2 2026, funding long-term assets and infrastructure. That is unchanged from the same quarter a year earlier. It is unchanged from the prior quarter.

R&D Spending

Not reported for Q2 2026.

CHDN Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

CHDN quarterly income statement
MetricQ2'2610-QQ1'2610-QQ4'2510-KQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Revenue$980.0M+4.9%$663.0M+3.1%$665.9M+6.7%$683.0M+8.7%$934.0M+4.9%$643.0M+8.8%$624.2M+11.2%$628.5M+9.8%
SG&A Expenses$61.0M0.0%$59.0M+7.3%$70.9M+7.9%$59.3M-0.8%$61.0M+6.3%$55.0M+0.4%$65.7M+27.1%$59.8M+19.1%
Operating Income$357.0M+9.2%$143.0M+5.9%$123.8M-2.4%$98.0M-22.2%$327.0M-0.9%$135.0M+6.9%$126.8M+19.4%$125.9M+12.1%
EBITDA$416.0M+8.1%$199.0M+2.6%$183.4M+1.8%$154.5M-12.0%$385.0M+1.5%$194.0M+12.0%$180.2M+17.5%$175.5M+13.7%
Interest Expense$70.0M-6.7%$72.0M0.0%$75.1M+3.2%$75.6M+3.4%$75.0M+2.0%$72.0M+2.3%$72.8M+3.1%$73.1M+7.7%
Income Tax$86.0M+16.2%$30.0M+57.9%$31.9M+70.6%$22.0M+10.6%$74.0M-12.0%$19.0M-11.2%$18.7M+30.8%$19.9M-4.3%
Net Income$241.0M+11.1%$83.0M+7.8%$50.9M-29.0%$38.1M-41.7%$217.0M+3.7%$77.0M-4.2%$71.7M+24.5%$65.4M+7.2%
EPS (Basic)$3.43+13.6%$1.16+13.7%$0.73-23.2%$0.54-37.9%$3.02+7.1%$1.02-6.4%$0.95+23.4%$0.87+7.4%
EPS (Diluted)$3.42+14.4%$1.16+13.7%$0.74-22.1%$0.54-37.2%$2.99+7.2%$1.02-5.6%$0.95+18.7%$0.86+8.9%
Diluted Shares (Avg)70M-2.8%70M-5.4%N/A71M-4.8%72M-3.5%74M-0.9%N/A75M-3.2%

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses.

CHDN Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

CHDN quarterly balance sheet
MetricQ2'2610-QQ1'2610-QQ4'2510-KQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Total Assets$7.5B+2.0%$7.5B+1.9%$7.5B+2.9%$7.5B+3.9%$7.4B+2.9%$7.3B+4.0%$7.3B+4.6%$7.2B+6.3%
Current Assets$484.0M+4.3%$452.0M-0.1%$443.0M+7.4%$414.9M+7.1%$464.0M+6.4%$452.4M+8.8%$412.3M+2.9%$387.4M+4.5%
Cash & Equivalents$196.0M+7.5%$200.0M+14.8%$201.0M+14.5%$180.5M+18.2%$182.4M+30.0%$174.2M+16.6%$175.5M+21.5%$152.7M+17.6%
Short-Term Investments$0n/m$0n/m$0n/m$0n/m$0n/m$0n/m$0n/m$0n/m
Inventory$11.0M-12.7%$11.0M-5.2%$12.0M+3.4%$12.4M$12.6M$11.6M$11.6M-32.6%N/A
Accounts Receivable$129.0M+9.0%$99.0M-8.8%$93.0M-5.8%$89.7M-3.8%$118.4M-13.0%$108.6M-5.6%$98.7M-7.7%$93.2M-8.8%
Long-Term Investments$0n/m$0n/m$0n/m$0n/m$0n/m$0n/m$0n/m$0n/m
Goodwill$900.0M0.0%$900.0M0.0%$900.0M0.0%$900.2M0.0%$900.2M0.0%$900.2M0.0%$900.2M0.0%$900.2M0.0%
Total Liabilities$6.1B-2.9%$6.3B+1.4%$6.4B+4.2%$6.4B+5.3%$6.3B+3.1%$6.3B+0.2%$6.2B+1.8%$6.1B+3.3%
Current Liabilities$1.4B+76.0%$836.0M-1.2%$733.0M+0.5%$725.2M+2.1%$772.1M+1.2%$846.1M+1.1%$729.3M-3.5%$710.1M+6.0%
Non-Current Liabilities$4.8B-13.9%$5.5B+1.8%$5.7B+4.6%$5.7B+5.7%$5.5B+3.4%$5.4B+0.1%$5.4B+2.6%$5.3B+3.0%
Long-Term Debt$4.1B-16.8%$4.9B+1.1%$5.1B+4.6%$5.0B+5.7%$4.9B+3.1%$4.8B-0.9%$4.8B+1.6%$4.8B+2.5%
Total Equity$1.3B+28.7%$1.1B+2.2%$1.0B-6.8%$1.0B-5.7%$1.0B+1.1%$1.1B+29.6%$1.1B+21.3%$1.1B+23.4%
Retained Earnings$1.3B+28.0%$1.1B+2.0%$1.0B-6.8%$1.0B-5.5%$1.0B+1.0%$1.1B+29.6%$1.1B+21.3%$1.1B+23.2%

CHDN Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

CHDN quarterly cash flow statement
MetricQ2'2610-QQ1'2610-QQ4'2510-KQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Operating Cash Flow$217.0M-9.6%$295.0M+19.4%$96.0M-26.5%$186.8M+10.3%$240.0M+10.6%$247.0M-3.0%$130.6M+22.6%$169.4M+76.1%
Depreciation & Amortization$59.0M+1.7%$56.0M-5.1%$59.6M+11.6%$56.5M+13.9%$58.0M+17.9%$59.0M+25.8%$53.4M+13.1%$49.6M+17.8%
Stock-Based Compensation$8.0M+14.3%$5.0M+25.0%N/A$7.4M+4.2%$7.0M-21.3%$4.0M-44.4%N/A$7.1M-12.3%
Capital Expenditures$19.0M0.0%$19.0M+46.2%$17.3M-48.8%$20.9M+39.3%$19.0M-15.2%$13.0M+4.8%$33.8M+33.6%$15.0M-32.4%
Free Cash Flow$198.0M-10.4%$276.0M+17.9%$78.7M-18.7%$165.9M+7.4%$221.0M+13.6%$234.0M-3.4%$96.8M+19.2%$154.4M+108.6%
Investing Cash Flow-$58.0Mn/m-$61.0Mn/m-$50.1Mn/m-$255.4Mn/m-$86.0Mn/m-$80.0Mn/m-$129.4Mn/m-$125.7Mn/m
Financing Cash Flow-$155.0Mn/m-$232.0Mn/m-$25.9M-228.9%$50.4Mn/m-$139.0Mn/m-$148.0Mn/m$20.1M-77.8%-$43.2M-150.0%
Dividends Paid$0$31.0M0.0%$600K+20.0%$200KN/A$31.0M+8.4%$500K+66.7%N/A
Share Buybacks$0-100.0%$0-100.0%$32.0M+17.2%$54.8M+1270.0%$254.0M+1853.8%$87.0M-38.6%$27.3M+35.8%$4.0M-88.7%

CHDN Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

CHDN quarterly financial ratios
MetricQ2'2610-QQ1'2610-QQ4'2510-KQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Operating Margin36.4%+1.4pp21.6%+0.6pp18.6%-1.7pp14.3%-5.7pp35.0%-2.0pp21.0%-0.4pp20.3%+1.4pp20.0%+0.4pp
Net Margin24.6%+1.4pp12.5%+0.5pp7.6%-3.9pp5.6%-4.8pp23.2%-0.3pp12.0%-1.6pp11.5%+1.2pp10.4%-0.3pp
Return on Equity18.0%-2.9pp7.6%+0.4pp5.0%-1.6pp3.7%-2.3pp20.8%+0.5pp7.2%-2.5pp6.6%+0.2pp6.0%-0.9pp
Return on Assets3.2%+0.3pp1.1%+0.1pp0.7%-0.3pp0.5%-0.4pp2.9%0.0pp1.1%-0.1pp1.0%+0.2pp0.9%0.0pp
Current Ratio0.36-0.2x0.540.0x0.600.0x0.570.0x0.600.0x0.530.0x0.570.0x0.550.0x
Debt-to-Equity3.06-1.7x4.44-0.1x5.02+0.5x4.87+0.5x4.74+0.1x4.49-1.4x4.47-0.9x4.35-0.9x
Liabilities-to-Equity4.57-1.5x5.790.0x6.37+0.7x6.16+0.6x6.06+0.1x5.83-1.7x5.69-1.1x5.52-1.1x
Asset Turnover0.130.0x0.090.0x0.090.0x0.090.0x0.130.0x0.090.0x0.090.0x0.090.0x
FCF Margin20.2%-3.5pp41.6%+5.2pp11.8%-3.7pp24.3%-0.3pp23.7%+1.8pp36.4%-4.6pp15.5%+1.0pp24.6%+11.6pp

Not reported in any period shown, so not listed: Gross Margin.

Note: The current ratio is below 1.0 (0.60), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company Fiscal year Revenue Net income Net margin Market cap Health score
Churchill Downs Inc CHDN FY2025 $2.9B $383.0M 13.1% $5.9B 53/100
Super Group (SGHC) Limited SGHC FY2025 $2.2B $218.0M 9.8% $5.5B 74/100
Rush Street Interactive, Inc. RSI FY2025 $1.1B $33.3M 2.9% $3.8B 52/100
Sharplink, Inc. SBET FY2025 $28.1M -$734.6M N/A $1.6B 53/100
DraftKings Inc. DKNG FY2025 $6.1B $3.7M 0.1% $10.5B 37/100

Frequently Asked Questions

What is Churchill Downs Inc's annual revenue?

Churchill Downs Inc (CHDN) reported $2.9B in total revenue for fiscal year 2025. This represents a 7.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Churchill Downs Inc's revenue growing?

Churchill Downs Inc (CHDN) revenue grew by 7.0% year-over-year, from $2.7B to $2.9B in fiscal year 2025.

Is Churchill Downs Inc profitable?

Yes, Churchill Downs Inc (CHDN) reported a net income of $413.0M over the trailing 12 months to June 30, 2026. In fiscal year 2025 it reported a net income of $383.0M, with a net profit margin of 13.1%.

Churchill Downs Inc (CHDN) reported diluted earnings per share of $5.29 for fiscal year 2025. This represents a -6.9% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Churchill Downs Inc (CHDN) had EBITDA of $916.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, Churchill Downs Inc (CHDN) had $201.0M in cash and equivalents against $5.1B in long-term debt.

Churchill Downs Inc (CHDN) had an operating margin of 23.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Churchill Downs Inc (CHDN) had a net profit margin of 13.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Yes, Churchill Downs Inc (CHDN) paid $0.44 per share in dividends during fiscal year 2025.

Churchill Downs Inc (CHDN) has a return on equity of 37.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Churchill Downs Inc (CHDN) generated $699.6M in free cash flow during fiscal year 2025. This represents a 1.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Churchill Downs Inc (CHDN) generated $769.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Churchill Downs Inc (CHDN) had $7.5B in total assets as of fiscal year 2025, including both current and long-term assets.

Churchill Downs Inc (CHDN) invested $70.2M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Yes, Churchill Downs Inc (CHDN) spent $427.8M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Churchill Downs Inc (CHDN) had 70M shares outstanding as of fiscal year 2025.

Churchill Downs Inc (CHDN) had a current ratio of 0.60 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

Churchill Downs Inc (CHDN) had a debt-to-equity ratio of 5.02 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.

Churchill Downs Inc (CHDN) had a liabilities-to-equity ratio of 6.37 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.

Churchill Downs Inc (CHDN) had a return on assets of 5.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Churchill Downs Inc (CHDN) trades at 14.2x earnings, its market capitalization divided by $413.0M net income, trailing 12 months to June 30, 2026. The market capitalization is $5.9B as of Oct 26, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

Churchill Downs Inc (CHDN) trades at 2.0x sales, its market capitalization divided by $3.0B revenue, trailing 12 months to June 30, 2026. The market capitalization is $5.9B as of Oct 26, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

Churchill Downs Inc (CHDN) has an Altman Z-Score of 1.38, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

Churchill Downs Inc (CHDN) has a Piotroski F-Score of 6 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Churchill Downs Inc (CHDN) has an earnings quality ratio of 2.01x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Churchill Downs Inc (CHDN) has an interest coverage ratio of 2.30x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

Churchill Downs Inc (CHDN) scores 53 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is the average of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.

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