# Churchill Downs Incorporated (CHDN) fundamentals

Data as of 2026-09-08. NASDAQ, United States. Sector: Consumer Cyclical / Hotels, Restaurants & Leisure. Price $87.07, market value $6.1 billion.

## Valuation
- **P/E (trailing): 14.8×** (5-yr avg 26.7×, 3-yr avg 24.4×). Churchill Downs Incorporated trades at 14.8× trailing earnings, well below its own five-year average of 26.7×: cheap by its own standards. The Consumer Cyclical median in the September 2026 study was 19.5×. Forward P/E is 11.8×, lower than trailing, so analysts expect earnings to grow.
- **Price / sales: 2.0×**. Each dollar of revenue is priced at 2.0×.
- **Price / book: 4.5×**. The shares trade at 4.5× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 11.5×**. Enterprise value is 11.5× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Earnings yield: 6.8%**. The inverse of the P/E: 6.8% of the price is earned each year.

## Profitability
- **Operating margin: 24.1%**. 24.1% of revenue is left after running the business, a healthy level in most sectors.
- **Net margin: 13.1%**. 13.1% of each dollar of sales reaches the bottom line.
- **Return on equity: 37.9%**. 37.9% on shareholders' equity is excellent if it is not driven by leverage; sustained above 20% usually signals a competitive advantage.
- **Return on invested capital: 9.6%**. Return on all capital, debt included, is 9.6%.
- **Return on assets: 5.5%**. Each dollar of assets produces 5.5% of profit.

## Growth
- **Revenue growth (1 yr): 7.0%** (3-yr 17.4%/yr, 5-yr 22.7%/yr). Revenue grew 7.0% over the last year, against 22.7% a year compounded over five years: growth is slowing.

## Financial health
- **Debt to equity: 5.08**. Debt is 5.08 times equity, a leveraged balance sheet that needs steady cash flow to service.
- **Net debt / EBITDA: 5.2×**. It would take 5.2 years of operating earnings to repay net borrowings, above the 3× level most lenders treat as comfortable.
- **Altman Z-score: 1.45**. A Z-score of 1.45 is in the distress zone, a signal to examine the balance sheet closely.
- **Piotroski F-score: 5/9**. 5 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 0.50%** ($0.44 per share, trailing). Churchill Downs Incorporated yields 0.50%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 8%**. 8% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 26**. 26 straight years of increases (the data covers 26 years, so this may be longer): a record very few companies hold.
- **Dividend growth (5 yr): 7.1%/yr** (1-yr 7.1%). The dividend has grown 7.1% a year over five years.

## Price and momentum
- **Total return (1 yr): -14.3%** (YTD -23.5%, 3-mo 0.2%). The shares are down 14.3% over twelve months including dividends.
- **From 52-week high: -26.4%** (9.7% above the low). Trading 26% below its 52-week high.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 47**. An RSI of 47 is neutral.
- **Beta (1 yr): 0.50** (volatility 35%). Beta of 0.50 against the S&P 500: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=CHDN · Page: https://foliofundamentals.com/stocks/chdn

Not investment advice.