Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States.
Reasonable growth potential and slightly overvalued.
Share Price & News
How has Churchill Downs's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: CHR's share price has been volatile over the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: CHR exceeded the German Hospitality industry which returned -21% over the past year.
Return vs Market: CHR exceeded the German Market which returned -0.1% over the past year.
Price Volatility Vs. Market
How volatile is Churchill Downs's share price compared to the market and industry in the last 5 years?
Simply Wall St News
No news available
Is Churchill Downs undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: CHR (€127) is trading below our estimate of fair value (€271.92)
Significantly Below Fair Value: CHR is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: CHR is poor value based on its PE Ratio (50x) compared to the Hospitality industry average (22.5x).
PE vs Market: CHR is poor value based on its PE Ratio (50x) compared to the German market (19x).
Price to Earnings Growth Ratio
PEG Ratio: CHR is poor value based on its PEG Ratio (1.3x)
Price to Book Ratio
PB vs Industry: CHR is overvalued based on its PB Ratio (11.8x) compared to the DE Hospitality industry average (1.8x).
How is Churchill Downs forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: CHR's forecast earnings growth (37.5% per year) is above the savings rate (0.2%).
Earnings vs Market: CHR's earnings (37.5% per year) are forecast to grow faster than the German market (22.5% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: CHR's revenue (18.7% per year) is forecast to grow faster than the German market (5.7% per year).
High Growth Revenue: CHR's revenue (18.7% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if CHR's Return on Equity is forecast to be high in 3 years time
How has Churchill Downs performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: CHR has high quality earnings.
Growing Profit Margin: CHR's current net profit margins (8%) are lower than last year (16.6%).
Past Earnings Growth Analysis
Earnings Trend: CHR's earnings have grown significantly by 22.9% per year over the past 5 years.
Accelerating Growth: CHR's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: CHR had negative earnings growth (-41.5%) over the past year, making it difficult to compare to the Hospitality industry average (-36.2%).
Return on Equity
High ROE: Whilst CHR's Return on Equity (24.13%) is high, this metric is skewed due to their high level of debt.
How is Churchill Downs's financial position?
Financial Position Analysis
Short Term Liabilities: CHR's short term assets ($843.0M) exceed its short term liabilities ($344.1M).
Long Term Liabilities: CHR's short term assets ($843.0M) do not cover its long term liabilities ($2.4B).
Debt to Equity History and Analysis
Debt Level: CHR's debt to equity ratio (496.3%) is considered high.
Reducing Debt: CHR's debt to equity ratio has increased from 99.9% to 496.3% over the past 5 years.
Debt Coverage: CHR's debt is not well covered by operating cash flow (12.2%).
Interest Coverage: CHR's interest payments on its debt are not well covered by EBIT (2.6x coverage).
What is Churchill Downs's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: CHR's dividend (0.44%) isn’t notable compared to the bottom 25% of dividend payers in the German market (1.32%).
High Dividend: CHR's dividend (0.44%) is low compared to the top 25% of dividend payers in the German market (4.07%).
Stability and Growth of Payments
Stable Dividend: CHR is not paying a notable dividend for the German market, therefore no need to check if payments are stable.
Growing Dividend: CHR is not paying a notable dividend for the German market, therefore no need to check if payments are increasing.
Current Payout to Shareholders
Dividend Coverage: CHR is not paying a notable dividend for the German market.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of CHR's dividend in 3 years as they are not forecast to pay a notable one for the German market.
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Bill Carstanjen (51yo)
Mr. William C. Carstanjen, also known as Bill, has been the Chief Executive Officer of Churchill Downs Incorporated since August 2014. Mr. Carstanjen served as the Chief Operating Officer of Churchill Down ...
CEO Compensation Analysis
Compensation vs Market: Bill's total compensation ($USD10.60M) is above average for companies of similar size in the German market ($USD3.63M).
Compensation vs Earnings: Bill's compensation has been consistent with company performance over the past year.
|CEO & Director||5.75yrs||US$10.60m||1.38% $64.1m|
|President & COO||5.75yrs||US$5.27m||0.72% $33.8m|
|Executive VP & CFO||4.58yrs||US$2.59m||0.10% $4.7m|
|Senior Vice President of Gaming Operations||6.75yrs||US$1.81m||0.12% $5.6m|
|Chief Accounting Officer & VP||no data||no data||no data|
|Senior VP & CTO||8.33yrs||no data||no data|
|Vice President of Treasury||2.83yrs||no data||no data|
|Senior VP||3.17yrs||no data||no data|
|Senior Vice President of Human Resources||no data||no data||no data|
|Senior VP & President of Churchill Downs Racetrack||no data||no data||no data|
Experienced Management: CHR's management team is seasoned and experienced (5.8 years average tenure).
|CEO & Director||5.75yrs||US$10.60m||1.38% $64.1m|
|Independent Director||2.83yrs||US$270.75k||no data|
|Director Emeritus||no data||US$572.37k||no data|
|Director Emeritus||14.92yrs||no data||no data|
|Independent Director||20.33yrs||US$280.75k||no data|
|Independent Director||8.33yrs||US$273.25k||no data|
|Independent Director||22.33yrs||US$296.60k||no data|
|Independent Director||0.25yr||no data||0.021% $960.0k|
|Independent Chairman of the Board||2.08yrs||US$381.50k||0.11% $5.2m|
|Independent Director||2.08yrs||US$281.85k||0.023% $1.1m|
Experienced Board: CHR's board of directors are considered experienced (4.8 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: CHR insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Churchill Downs Incorporated's company bio, employee growth, exchange listings and data sources
- Name: Churchill Downs Incorporated
- Ticker: CHR
- Exchange: BST
- Founded: 1928
- Industry: Casinos and Gaming
- Sector: Consumer Services
- Market Cap: US$5.155b
- Listing Market Cap: US$4.663b
- Shares outstanding: 38.86m
- Website: https://www.churchilldownsincorporated.com
Number of Employees
- Churchill Downs Incorporated
- 600 North Hurstbourne Parkway
- Suite 400
- United States
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|CHDN||NasdaqGS (Nasdaq Global Select)||Yes||Common Stock||US||USD||Jan 1975|
|CHR||BST (Boerse-Stuttgart)||Yes||Common Stock||DE||EUR||Jan 1975|
|CHR||DB (Deutsche Boerse AG)||Yes||Common Stock||DE||EUR||Jan 1975|
Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. It operates through three segments: Churchill Downs, Online Wagering, and Gaming. The company owns and operates Derby City Gaming, a historical racing machine in Louisville, Kentucky; online horse racing wagering platform, TwinSpires.com; and offers sports betting and iGaming through BetAmerica platform. It also operates 5 racetracks, including Churchill Downs Racetrack in Louisville, Kentucky; Arlington International Race Course in Arlington Heights with 12 off-track betting (OTB) facilities in Illinois; Fair Grounds Race Course in New Orleans along with 14 OTBs in Louisiana; and Calder Race Course in Miami Gardens, Florida. In addition, the company operates 8 casinos, which provides brick-and-mortar casino gaming services with approximately 11,000 slot machines and video lottery terminals and 200 table games; and operates hotels. Further, it 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. Additionally, the company manufactures and operates pari-mutuel wagering systems for racetracks, OTBs, and other pari-mutuel wagering businesses; and provides totalizator services. Churchill Downs Incorporated was founded in 1928 and is headquartered in Louisville, Kentucky.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/05/29 23:15|
|End of Day Share Price||2020/05/29 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.