Churchill Downs, Incorporated

Churchill Downs, Incorporated

20.74
BRL
-0.36
(-1.71%)
1.52EPS
14.55P/E
30.92BMarket Cap
Oct 28Next Earn

Total Valuation

BRL

As of June 30, 2026, Churchill Downs Inc Shs Unsponsored Brazilian Depositary Receipt Repr 0.05 Sh carries a market capitalization of 30.92B, placing it among publicly traded companies globally. Its enterprise value stands at 54.88B, reflecting the total theoretical takeover cost after accounting for cash holdings and debt obligations.

Market Cap30.92B
Enterprise Value54.88B

Important Dates

Churchill Downs Inc Shs Unsponsored Brazilian Depositary Receipt Repr 0.05 Sh's next confirmed earnings release is scheduled for October 28, 2026.

Earnings Date10/28/2026

Share Statistics

As of June 30, 2026, Churchill Downs Inc Shs Unsponsored Brazilian Depositary Receipt Repr 0.05 Sh has 1.40B shares outstanding.

Shares Outstanding1.40B

Valuation Ratios

As of June 30, 2026, Churchill Downs Inc Shs Unsponsored Brazilian Depositary Receipt Repr 0.05 Sh trades at a trailing price-to-earnings ratio of 14.55. The price-to-sales ratio is 2.01, and the price-to-book ratio stands at 4.46.

PE Ratio14.55
PS Ratio2.01
PB Ratio4.46
P/TBV Ratio-2.89
P/FCF Ratio7.59
P/OCF Ratio7.57

Enterprise Valuation

As of June 30, 2026, Churchill Downs Inc Shs Unsponsored Brazilian Depositary Receipt Repr 0.05 Sh trades at an EV/EBITDA multiple of 11.07 - the valuation measure that neutralizes differences in capital structure, tax rates, and depreciation policy, making it the standard yardstick for comparing companies across an industry. The EV/Sales ratio of 3.55 reflects the premium investors pay for the company's revenue stream, a useful check when earnings are depressed or negative. Its EV/EBIT multiple of 14.71 values the business against core operating earnings after depreciation, a stricter test than EV/EBITDA for capital-intensive businesses. Churchill Downs Inc Shs Unsponsored Brazilian Depositary Receipt Repr 0.05 Sh trades at an EV/FCF ratio of 10.59, comparing the total takeover cost of the business to the cash it actually generates for all capital providers. These enterprise value multiples are built on an enterprise value of 54.88B versus a market cap of 30.92B, with the gap driven by net debt and cash on the balance sheet.

EV / Sales3.55
EV / EBITDA11.07
EV / EBIT14.71
EV / FCF10.59

Financial Position

As of June 30, 2026, Churchill Downs Inc Shs Unsponsored Brazilian Depositary Receipt Repr 0.05 Sh maintains a current ratio of 0.36, meaning it holds 0.4x the short-term assets needed to cover near-term liabilities. The debt-to-equity ratio is 343.71, indicating elevated leverage, while an interest coverage ratio of 3.27 demonstrates adequate ability to service its debt obligations.

Current Ratio0.36
Quick Ratio0.24
Debt / Equity343.71
Debt / EBITDA4.99
Interest Coverage3.27

Financial Efficiency

BRL

Over the twelve months ended June 30, 2026, Churchill Downs Inc Shs Unsponsored Brazilian Depositary Receipt Repr 0.05 Sh posted a return on equity (ROE) of 34.70, showing how much profit the company earns on every dollar of shareholder capital. Return on invested capital (ROIC) comes in at 8.27 - the clearest signal of whether the business earns more on its capital than that capital costs, and the core measure of a durable competitive advantage. Return on assets (ROA) stands at 5.55, measuring how efficiently the asset base is converted into earnings. Return on capital employed (ROCE) is 10.11, useful for judging operating efficiency across full business cycles. The company generates approximately 1.72M in revenue per employee across its workforce of 8,967.50, a quick read on workforce productivity versus industry peers. Inventory turnover of 166.86 indicates how many times Churchill Downs Inc Shs Unsponsored Brazilian Depositary Receipt Repr 0.05 Sh sells and replaces its inventory over a year, a key working capital efficiency ratio.

Return on Equity (ROE)34.70
Return on Assets (ROA)5.55
Return on Invested Capital (ROIC)8.27
Return on Capital Employed (ROCE)10.11
Revenue Per Employee1.72M
Employee Count8,967.50
Inventory Turnover166.86

Taxes

BRL

Over the twelve months ended June 30, 2026, Churchill Downs Inc Shs Unsponsored Brazilian Depositary Receipt Repr 0.05 Sh recorded 877.70M in income tax expense. That works out to an effective tax rate of 29.00, which can sit above or below the statutory corporate tax rate depending on foreign earnings mix, tax credits, and one-off items. Taxes are levied on pretax income of 3.03B, leaving 2.14B in net income after tax - the gap is what shifts in the tax rate do to reported earnings and EPS.

Income Tax877.70M
Effective Tax Rate29.00

Stock Price Statistics

BRL

As of the close on October 19, 2026, Churchill Downs Inc Shs Unsponsored Brazilian Depositary Receipt Repr 0.05 Sh's stock has declined approximately 11.22% over the past 52 weeks.

52-Week Price Change-11.22%
50-Day Moving Average25.33

Income Statement

BRL

Over the twelve months ended June 30, 2026, Churchill Downs Inc Shs Unsponsored Brazilian Depositary Receipt Repr 0.05 Sh generated 15.47B in revenue and converted that into 2.14B in net income, yielding earnings per share of 1.52. EBITDA reached 4.96B, while operating income came in at 3.99B.

Revenue15.47B
Gross Profit5.29B
Operating Income3.99B
Pretax Income3.03B
Net Income2.14B
EBITDA4.96B
EBIT3.73B
Earnings Per Share (EPS)1.52

Balance Sheet

BRL

As of June 30, 2026, Churchill Downs Inc Shs Unsponsored Brazilian Depositary Receipt Repr 0.05 Sh holds 1.01B in cash and equivalents against 24.71B in total debt, resulting in a net debt position of 23.66B. Total book value stands at 6.93B, with working capital of -4.52B providing operational flexibility.

Cash & Cash Equivalents1.01B
Total Debt24.71B
Net Debt23.66B
Equity (Book Value)6.93B
Book Value Per Share4.95
Working Capital-4.52B

Cash Flow

BRL

Churchill Downs Inc Shs Unsponsored Brazilian Depositary Receipt Repr 0.05 Sh produced 4.11B in operating cash flow over the twelve months ended June 30, 2026. After subtracting - - in capital expenditures, free cash flow totaled 4.11B - equivalent to 2.92 per share.

Operating Cash Flow4.11B
Free Cash Flow4.11B
FCF Per Share2.92

Margins

Over the twelve months ended June 30, 2026, Churchill Downs Inc Shs Unsponsored Brazilian Depositary Receipt Repr 0.05 Sh posted a gross margin of 34.19, reflecting its pricing power and cost economics. The operating margin of 25.81 and net profit margin of 13.82 provide insight into operational efficiency.

Gross Margin34.19
Operating Margin25.81
Pretax Margin19.57
Profit Margin13.82
EBITDA Margin32.05

Dividends & Yields

BRL

Over the twelve months ended June 30, 2026, Churchill Downs Inc Shs Unsponsored Brazilian Depositary Receipt Repr 0.05 Sh paid dividends of 0.12 per share. The dividend payout ratio of 7.61 indicates the proportion of earnings distributed to shareholders, a key gauge of how sustainable the dividend is and how much room remains for future dividend growth. Free cash flow yield stands at 13.17, showing how much cash the business generates relative to its market value - dividends covered by free cash flow are generally more durable than those funded by debt. Total shareholder yield reaches 6.06, combining dividends paid with share buybacks and debt reduction for a fuller picture of capital returned to Churchill Downs Inc Shs Unsponsored Brazilian Depositary Receipt Repr 0.05 Sh shareholders.

Dividend Per Share0.12
Payout Ratio7.61
Shareholder Yield6.06
FCF Yield13.17

Stock Splits

Churchill Downs Inc Shs Unsponsored Brazilian Depositary Receipt Repr 0.05 Sh's most recent stock split took place on June 12, 2023 with a 1:2 split ratio.

Last Split Date6/12/2023
Split Ratio1:2

Scores

As of June 30, 2026, Churchill Downs Inc Shs Unsponsored Brazilian Depositary Receipt Repr 0.05 Sh has an Altman Z-Score of 2.13, near the 3.0 threshold that indicates strong financial health and minimal bankruptcy risk.

Altman Z-Score2.13