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Churchill Downs Incorporated CHDN
Consumer Cyclical - Gambling, Resorts & Casinos - NASDAQ - US
Watchlist
$ 96.04
0.0625 %
$ 6.94 B
Market Cap
16.7
P/E
1. INTRINSIC VALUE

This DCF valuation model was last updated on May, 8, 2025.

The intrinsic value of one CHDN stock under the worst case scenario is HIDDEN Compared to the current market price of 96 USD, Churchill Downs Incorporated is HIDDEN

CHDN Intrinsic Value
HIDDEN
SHOW

This DCF valuation model was last updated on May, 8, 2025.

The intrinsic value of one CHDN stock under the base case scenario is HIDDEN Compared to the current market price of 96 USD, Churchill Downs Incorporated is HIDDEN

CHDN Intrinsic Value
HIDDEN
SHOW

This DCF valuation model was last updated on May, 8, 2025.

The intrinsic value of one CHDN stock under the best case scenario is HIDDEN Compared to the current market price of 96 USD, Churchill Downs Incorporated is HIDDEN

CHDN Intrinsic Value
HIDDEN
SHOW
2. FUNDAMENTAL ANALYSIS

Price Chart CHDN

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1M 4%
6M -42%
1Y -45%
3Y 8%
5Y 43%
All
$150.0$150.0$140.0$140.0$130.0$130.0$120.0$120.0$110.0$110.0$100.0$100.0$90.0$90.0$80.0$80.0Dec '24Dec '2420252025Feb '25Feb '25Mar '25Mar '25Apr '25Apr '25May '25May '25Jun '25Jun '25
FINANCIALS
2.73 B REVENUE
11.07%
Growth Rates
1Year 11.07%
3Years 19.63%
5Years 15.51%
7Years 17.53%
10Years 12.90%
709 M OPERATING INCOME
25.71%
Growth Rates
1Year 25.71%
3Years 16.23%
5Years 26.87%
7Years 25.36%
10Years 22.87%
429 M NET INCOME
2.83%
Growth Rates
1Year 2.83%
3Years 19.87%
5Years 25.61%
7Years 17.29%
10Years 24.92%
773 M OPERATING CASH FLOW
27.55%
Growth Rates
1Year 27.55%
3Years 32.06%
5Years 21.69%
7Years 19.80%
10Years 18.49%
-545 M INVESTING CASH FLOW
24.07%
Growth Rates
1Year 24.07%
3Years -75.77%
5Years 6.94%
7Years -19.84%
10Years -2.16%
-197 M FINANCING CASH FLOW
-152.05%
Growth Rates
1Year -152.05%
3Years -632.61%
5Years -7.37%
7Years -18.62%
10Years -4.88%
643 M REVENUE
2.95%
Growth Rates
1Year 11.07%
3Years 19.63%
5Years 15.51%
7Years 17.53%
10Years 12.90%
135 M OPERATING INCOME
6.15%
Growth Rates
1Year 25.71%
3Years 16.23%
5Years 26.87%
7Years 25.36%
10Years 22.87%
77.2 M NET INCOME
4.32%
Growth Rates
1Year 2.83%
3Years 19.87%
5Years 25.61%
7Years 17.29%
10Years 24.92%
246 M OPERATING CASH FLOW
88.74%
Growth Rates
1Year 27.55%
3Years 32.06%
5Years 21.69%
7Years 19.80%
10Years 18.49%
-80.1 M INVESTING CASH FLOW
38.10%
Growth Rates
1Year 24.07%
3Years -75.77%
5Years 6.94%
7Years -19.84%
10Years -2.16%
-148 M FINANCING CASH FLOW
-735.82%
Growth Rates
1Year -152.05%
3Years -632.61%
5Years -7.37%
7Years -18.62%
10Years -4.88%
Balance Sheet Churchill Downs Incorporated
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Current Assets 412 M
Cash & Short-Term Investments 176 M
Receivables 113 M
Other Current Assets 124 M
Non-Current Assets 7 B
Long-Term Investments 0
PP&E 2.87 B
Other Non-Current Assets 4.12 B
38.79 %55.65 %Total Assets$7.4b
Current Liabilities 729 M
Accounts Payable 180 M
Short-Term Debt 8.7 M
Other Current Liabilities 540 M
Non-Current Liabilities 5.58 B
Long-Term Debt 4.84 B
Other Non-Current Liabilities 734 M
2.86 %8.57 %76.79 %11.64 %Total Liabilities$6.3b
EFFICIENCY
Earnings Waterfall Churchill Downs Incorporated
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Revenue 2.73 B
Cost Of Revenue 1.8 B
Gross Profit 938 M
Operating Expenses 238 M
Operating Income 709 M
Other Expenses 280 M
Net Income 429 M
3b3b3b3b2b2b2b2b1b1b500m500m003b(2b)939m(238m)709m(280m)429mRevenueRevenueCost Of RevenueCost Of RevenueGross ProfitGross ProfitOperating ExpensesOperating ExpensesOperating IncomeOperating IncomeOther ExpensesOther ExpensesNet IncomeNet Income
RATIOS
34.32% GROSS MARGIN
34.32%
Averages
1Year 34.32%
3Years 32.65%
5Years 28.85%
7Years 28.39%
10Years 27.54%
25.93% OPERATING MARGIN
25.93%
Averages
1Year 25.93%
3Years 26.63%
5Years 23.65%
7Years 21.88%
10Years 19.47%
15.61% NET MARGIN
15.61%
Averages
1Year 15.61%
3Years 18.95%
5Years 14.74%
7Years 17.00%
10Years 14.86%
39.39% ROE
39.39%
Averages
1Year 39.39%
3Years 55.25%
5Years 50.12%
7Years 50.31%
10Years 40.05%
5.76% ROA
5.76%
Averages
1Year 5.76%
3Years 6.28%
5Years 5.54%
7Years 7.65%
10Years 6.71%
7.93% ROIC
7.93%
Averages
1Year 7.93%
3Years 7.27%
5Years 8.45%
7Years 8.44%
10Years 7.95%
FREE CASH FLOW ANALYSIS
Free Cash Flow Analysis Churchill Downs Incorporated
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250m250m200m200m150m150m100m100m50m50m00(50m)(50m)(100m)(100m)20162016201720172018201820192019202020202021202120222022202320232024202420252025
Net Income 429 M
Depreciation & Amortization 205 M
Capital Expenditures -547 M
Stock-Based Compensation 36.1 M
Change in Working Capital 49.9 M
Others 58.3 M
Free Cash Flow 226 M
3. WALL STREET ANALYSTS ESTIMATES
Wall Street Analysts Price Targets Churchill Downs Incorporated
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Wall Street analysts predict an average 1-year price target for CHDN of $160 , with forecasts ranging from a low of $151 to a high of $167 .
CHDN Lowest Price Target Wall Street Target
151 USD 57.23%
CHDN Average Price Target Wall Street Target
160 USD 66.45%
CHDN Highest Price Target Wall Street Target
167 USD 73.89%
Price
Max Price Target
Min Price Target
Average Price Target
17017016016015015014014013013012012011011010010090908080Jun '24Jun '24Aug '24Aug '24Oct '24Oct '24Dec '24Dec '24Feb '25Feb '25Apr '25Apr '25Jun '25Jun '25Aug '25Aug '25Oct '25Oct '25Dec '25Dec '25Feb '26Feb '26Apr '26Apr '26Jun '26Jun '26
4. DIVIDEND ANALYSIS
0.37% DIVIDEND YIELD
0.409 USD DIVIDEND PER SHARE
Q1
Q2
Q3
Q4
0.450000.450000.400000.400000.350000.350000.300000.300000.250000.250000.200000.200000.150000.150000.100000.100000.050000.050000.000000.000000.191670.190.220.220.253330.250.271670.270.29050.290.3110.310.33350.330.3570.360.3820.380.4090.4120152015201620162017201720182018201920192020202020212021202220222023202320242024
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5. COMPETITION
slide 2 of 6
6. Ownership
Insider Ownership Churchill Downs Incorporated
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Sold
0-3 MONTHS
0 USD 0
3-6 MONTHS
0 USD 0
6-9 MONTHS
0 USD 0
9-12 MONTHS
0 USD 0
Bought
371 K USD 2
0-3 MONTHS
0 USD 0
3-6 MONTHS
0 USD 0
6-9 MONTHS
0 USD 0
9-12 MONTHS
7. News
Sovereignty Wins the 151st Running of the Kentucky Derby Presented by Woodford Reserve New All-Time Handle Record Set for the Kentucky Derby Race, Kentucky Derby Day Program, and Kentucky Derby Week Races New All-Time Handle Record Set for the Kentucky Derby Race, Kentucky Derby Day Program, and Kentucky Derby Week Races globenewswire.com - 1 month ago
Good Cheer Claims the Lilies for the 151st Running of the Longines Kentucky Oaks LOUISVILLE, Ky., May 02, 2025 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (Nasdaq: CHDN) (the "Company", "CDI", "we") announced Good Cheer captured the Lilies in the 151st running of the Longines Kentucky Oaks in a field of 13 and sloppy track conditions. Under mostly cloudy skies, more than 100,000 excited racegoers gathered to watch America's premier race for 3-year-old fillies. globenewswire.com - 1 month ago
The best Kentucky Derby bet may actually be investing in Churchill Downs Churchill Downs Incorporated is the owner of the track where the famed namesake race is run —and some analysts say its stock has plenty of upside right now marketwatch.com - 1 month ago
Kentucky Derby runs tomorrow, but planned $1B revamp of Churchill Downs is on hold Top racehorses will run in the Kentucky Derby on Saturday, but a planned nearly $1 billion revamp of facilities at the Churchill Downs racetrack that hosts the famous race is on hold. foxbusiness.com - 1 month ago
Churchill Downs CEO says interest in the Kentucky Derby is strong despite global uncertainty Churchill Downs has paused a $900 million capital improvement project due to global uncertainty. CEO Bill Carstanjen said this year's Kentucky Derby on Saturday is on pace to match last year's in terms of demand. cnbc.com - 1 month ago
Churchill Downs Stock: Could Tariff Fears Dampen Derby Gains? Churchill Downs Inc. NASDAQ: CHDN delivered record revenue and solid earnings in the just-ended quarter. However, some unexpected news about a previously announced renovation is causing the stock to drop more than 16% in after-hours trading. marketbeat.com - 1 month ago
Churchill Downs Incorporated (CHDN) Q1 2025 Earnings Call Transcript Churchill Downs Incorporated (NASDAQ:CHDN ) Q1 2025 Earnings Call April 24, 2025 9:00 AM ET Company Participants Sam Ullrich - Vice President, Investor Relations Bill Carstanjen - Chief Executive Officer Bill Mudd - President and Chief Operating Officer Marcia Dall - Chief Financial Officer Conference Call Participants Chad Beynon - Macquarie Barry Jonas - Truist David Katz - Jefferies Jordan Bender - Citizens Daniel Guglielmo - Capital One Securities Jeff Stantial - Stifel Joe Stauff - Susquehanna Ben Chaiken - Mizuho Shaun Kelley - Bank of America Brandt Montour - Barclays Operator Good day, ladies and gentlemen and welcome to the Churchill Downs Inc. 2025 First Quarter Earnings Conference Call. [Operator Instructions] As a reminder, this conference call is being recorded. seekingalpha.com - 1 month ago
Churchill Downs (CHDN) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates Although the revenue and EPS for Churchill Downs (CHDN) give a sense of how its business performed in the quarter ended March 2025, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers. zacks.com - 1 month ago
Churchill Downs (CHDN) Misses Q1 Earnings and Revenue Estimates Churchill Downs (CHDN) came out with quarterly earnings of $1.07 per share, missing the Zacks Consensus Estimate of $1.08 per share. This compares to earnings of $1.13 per share a year ago. zacks.com - 1 month ago
Churchill Downs Incorporated Announces Updates on Capital Projects for Churchill Downs Racetrack New Renovations for Finish Line Suites and The Mansion; Temporary Pause of The Skye, Conservatory and Infield General Admission Projects New Renovations for Finish Line Suites and The Mansion; Temporary Pause of The Skye, Conservatory and Infield General Admission Projects globenewswire.com - 1 month ago
Churchill Downs Incorporated Reports 2025 First Quarter Results LOUISVILLE, Ky., April 23, 2025 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (Nasdaq: CHDN) (the "Company", "CDI", "we") today reported business results for the first quarter ended March 31, 2025. globenewswire.com - 1 month ago
Gear Up for Churchill Downs (CHDN) Q1 Earnings: Wall Street Estimates for Key Metrics Evaluate the expected performance of Churchill Downs (CHDN) for the quarter ended March 2025, looking beyond the conventional Wall Street top-and-bottom-line estimates and examining some of its key metrics for better insight. zacks.com - 1 month ago
8. Profile Summary

Churchill Downs Incorporated CHDN

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COUNTRY US
INDUSTRY Gambling, Resorts & Casinos
MARKET CAP $ 6.94 B
Dividend Yield 0.37%
Description Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. It operates through three segments: Live and Historical Racing, TwinSpires, and Gaming. As of December 31, 2021, the company owned and operated three pari-mutuel gaming entertainment venues with approximately 3,050 historical racing machines (HRMs) in Kentucky; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; nine retail sportsbooks; and casino gaming in eight states with approximately 11,000 slot machines and video lottery terminals, and 200 table games. It also offers streaming video of live horse races, replays, and an assortment of racing and handicapping information; and provides the Bloodstock Research Information Services platform for horse racing statistical data. In addition, the company manufactures and operates pari-mutuel wagering systems for racetracks, off-track betting facilities, and other pari-mutuel wagering businesses. Churchill Downs Incorporated was founded in 1875 and is headquartered in Louisville, Kentucky.
Contact 600 North Hurstbourne Parkway, Louisville, KY, 40222 https://www.churchilldownsincorporated.com
IPO Date March 29, 1993
Employees 6480
Officers Tonya Abeln Vice President of Corporate Communications Ms. Maureen Adams Executive Vice President of Gaming Operations Mr. William E. Mudd President & Chief Operating Officer Mr. Jon E. Rauch Vice President & Chief Accounting Officer Sam Ullrich Vice President of Investor Relations Mr. Bradley K. Blackwell J.D. Executive Vice President, General Counsel & Secretary Mr. William C. Carstanjen Chief Executive Officer & Director Mr. Nate Simon Senior Vice President & Chief Technology Officer Ms. Marcia Ann Dall CPA Executive Vice President & Chief Financial Officer Mr. Jason Sauer Senior Vice President of Corporate Development