# Churchill Downs Incorporated (CHDN) fundamentals

Data as of 2026-11-04. NASDAQ, United States. Sector: Consumer Cyclical / Hospitality & Leisure. Price $97.65, market value $6.7 billion.

## Valuation
- **P/E (trailing): 15.1×** (5-yr avg 26.7×, 3-yr avg 24.4×). Churchill Downs Incorporated trades at 15.1× 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 13.1×, lower than trailing, so analysts expect earnings to grow.
- **Price / sales: 2.2×**. Each dollar of revenue is priced at 2.2×.
- **Price / book: 4.9×**. The shares trade at 4.9× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 11.6×**. Enterprise value is 11.6× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Earnings yield: 6.6%**. The inverse of the P/E: 6.6% of the price is earned each year.

## Profitability
- **Operating margin: 25.5%**. 25.5% of revenue is left after running the business, an exceptional level.
- **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: 10.2%**. Return on all capital, debt included, is 10.2%.
- **Return on assets: 6.1%**. Each dollar of assets produces 6.1% 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: 4.9×**. It would take 4.9 years of operating earnings to repay net borrowings, above the 3× level most lenders treat as comfortable.
- **Current ratio: 0.60** (quick 0.60). Current liabilities exceed current assets, so the company depends on ongoing cash generation or refinancing to pay the next year's bills.
- **Altman Z-score: 1.46**. A Z-score of 1.46 is in the distress zone, a signal to examine the balance sheet closely.
- **Piotroski F-score: 6/9**. 6 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 0.48%** ($0.44 per share, trailing). Churchill Downs Incorporated yields 0.48%, 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.
- **Shareholder yield: 1.6%**. Dividends plus net buybacks return 1.6% of the market value a year.

## Analyst view
- **Analyst consensus: strong_buy** (12 analysts). 12 analysts cover Churchill Downs Incorporated; the consensus is strong_buy, with an average price target of $126.00 (+29% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 0.2%** (YTD -13.0%, 3-mo 18.6%). The shares are up 0.2% over twelve months including dividends.
- **From 52-week high: -17.5%** (33.6% above the low). Trading 17% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 77**. An RSI of 77 is in overbought territory; short-term pullbacks are common from here.
- **Beta (1 yr): 0.45** (volatility 36%). Beta of 0.45 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.