Churchill Downs' investment case hinges on the powerful Kentucky Derby quarter, which drove Q2 2026 revenue to $980M with a 36.4% operating margin and $276M in free cash flow. However, this seasonal concentration leaves off-peak quarters with thin margins (net...
Price trend, volume and key moving averages
Start with the evidence for owning the stock and the risks that can break the thesis.
Revenue growth is stable at 3-9% year-over-year, but Q2 2026 stands out with a 36.4% operating margin and $3.44 EPS, while off-peak quarters show compressed margins (e.g., 5.5% net margin in Q3 2025).
The Kentucky Derby is a key asset for Churchill Downs, driving significant revenue and brand value.
Churchill Downs has multiple growth catalysts, including new projects like Marshall Yards and Rockingham Grand Casino.
The company generates robust cash flows, similar to peers like MGM, supporting its financial stability.
Trailing total returns as of 9/24/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q3 2026Latest Jul 29, 2026 | $3.45+0.0% vs $3.45 | $980M+0.3% vs $977M |
Q2 2026 Apr 22, 2026 | $1.21+14.2% vs $1.06 | $663M+0.3% vs $661M |
Q1 2026 Feb 25, 2026 | $0.97+14.1% vs $0.85 | $666M+0.9% vs $660M |
Q4 2025 Oct 22, 2025 | $1.09+12.4% vs $0.97 | $683M+4.1% vs $656M |
LOUISVILLE, Ky., Sept. 17, 2026 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (Nasdaq: CHDN, “CDI,” “the Company”) announced today that it successfully priced its previously announced $500 million in aggregate principal amount of senior secured Term Loan B due 2033 (“2033 TLB”). The 2033 TLB priced at SOFR plus 175 basis points and issued at 99.875% of the principal amount.
Churchill Downs (NASDAQ: CHDN - Get Free Report) and Bally's (NYSE: BALY - Get Free Report) are both consumer discretionary companies, but which is the better investment? We will contrast the two companies based on the strength of their institutional ownership, valuation, earnings, analyst recommendations, profitability, risk and dividends. Risk and Volatility Churchill Downs has a beta
On September 15, 2026, Churchill Downs Inc (CHDN) shares fell by 3.6%, closing at $80.60. The stock is currently trading within a 52-week range of $79.40 to $11
California State Teachers Retirement System raised its position in shares of Churchill Downs, Incorporated (NASDAQ: CHDN) by 8,697.6% during the undefined quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,477,297 shares of the company's stock after acquiring an additional 6,403,671 shares during
Benchmark CHDN against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for Churchill Downs Incorporated (CHDN)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $80.46 | $5.61B | 15.12 | 7.01% | 12.98% | 35.17% | 0.54% | |
| $15.56 | $2.08B | -2.67 | 5.82% | -12.66% | -48.65% | — | |
| $71.74 | $5.21B | 3.18 | 4.12% | 44.34% | 70.52% | — | |
| $50.90 | $2.98B | 16.31 | 3.74% | 8.43% | 56.19% | — | |
| $21.25 | $10.54B | -2623.46 | 26.99% | -2.68% | -26.3% | — | |
| $29.61 | $6.03B | -12.24 | 2.14% | -3.81% | -11.99% | — |
Churchill Downs Incorporated (CHDN) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Verify the primary filings, follow material updates, and answer the remaining questions.
Churchill Downs Incorporated (CHDN) SEC filings — annual & quarterly reports (10-K, 10-Q)
Jul 29, 2026·SEC
Jul 29, 2026·SEC
Apr 22, 2026·SEC
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Churchill Downs Incorporated (CHDN) stock FAQ — growth, dividends, profitability & financials explained
Churchill Downs Incorporated (CHDN) reported $2.99B in revenue for fiscal year 2025. This represents a 2673% increase from $107.9M in 1996.
Churchill Downs Incorporated (CHDN) grew revenue by 7.0% over the past year. This is steady growth.
Yes, Churchill Downs Incorporated (CHDN) is profitable, generating $409.7M in net income for fiscal year 2025 (13.0% net margin).
Yes, Churchill Downs Incorporated (CHDN) pays a dividend with a yield of 0.54%. This makes it attractive for income-focused investors.
Churchill Downs Incorporated (CHDN) has a return on equity (ROE) of 35.2%. This is excellent, indicating efficient use of shareholder capital.
Churchill Downs Incorporated (CHDN) generated $685.6M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.
