NasdaqGS:CHDN

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Executive Summary

Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. More Details


Snowflake Analysis

High growth potential with worrying balance sheet.


Similar Companies

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: CHDN's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

0.2%

CHDN

-2.1%

US Hospitality

-1.2%

US Market


1 Year Return

33.0%

CHDN

-15.7%

US Hospitality

19.5%

US Market

Return vs Industry: CHDN exceeded the US Hospitality industry which returned -15.5% over the past year.

Return vs Market: CHDN exceeded the US Market which returned 19.9% over the past year.


Shareholder returns

CHDNIndustryMarket
7 Day0.2%-2.1%-1.2%
30 Day9.9%-0.7%5.8%
90 Day28.4%12.6%8.1%
1 Year33.6%33.0%-14.3%-15.7%22.3%19.5%
3 Year155.3%150.9%-10.9%-16.5%43.6%34.0%
5 Year275.7%263.2%15.9%3.7%87.3%66.1%

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

Valuation

Is Churchill Downs undervalued compared to its fair value and its price relative to the market?

21.1x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: CHDN ($173.96) is trading above our estimate of fair value ($107.32)

Significantly Below Fair Value: CHDN is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: CHDN is unprofitable, so we can't compare its PE Ratio to the US Hospitality industry average.

PE vs Market: CHDN is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate CHDN's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: CHDN is overvalued based on its PB Ratio (21.1x) compared to the US Hospitality industry average (2.4x).


Next Steps

Future Growth

How is Churchill Downs forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

110.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CHDN is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (2.2%).

Earnings vs Market: CHDN is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: CHDN's is expected to become profitable in the next 3 years.

Revenue vs Market: CHDN's revenue (28.2% per year) is forecast to grow faster than the US market (10% per year).

High Growth Revenue: CHDN's revenue (28.2% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if CHDN's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Churchill Downs performed over the past 5 years?

13.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CHDN is currently unprofitable.

Growing Profit Margin: CHDN is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: CHDN is unprofitable, but has reduced losses over the past 5 years at a rate of 13.1% per year.

Accelerating Growth: Unable to compare CHDN's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: CHDN is unprofitable, making it difficult to compare its past year earnings growth to the Hospitality industry (-49.7%).


Return on Equity

High ROE: CHDN has a negative Return on Equity (-8.3%), as it is currently unprofitable.


Next Steps

Financial Health

How is Churchill Downs's financial position?


Financial Position Analysis

Short Term Liabilities: CHDN's short term assets ($817.7M) exceed its short term liabilities ($488.2M).

Long Term Liabilities: CHDN's short term assets ($817.7M) do not cover its long term liabilities ($2.4B).


Debt to Equity History and Analysis

Debt Level: CHDN's debt to equity ratio (671.8%) is considered high.

Reducing Debt: CHDN's debt to equity ratio has increased from 81.8% to 671.8% over the past 5 years.

Debt Coverage: CHDN's debt is not well covered by operating cash flow (7%).

Interest Coverage: CHDN is unprofitable, therefore interest payments are not well covered by earnings.


Balance Sheet


Next Steps

Dividend

What is Churchill Downs's current dividend yield, its reliability and sustainability?

0.33%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: CHDN's dividend (0.33%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.62%).

High Dividend: CHDN's dividend (0.33%) is low compared to the top 25% of dividend payers in the US market (4.66%).


Stability and Growth of Payments

Stable Dividend: CHDN is not paying a notable dividend for the US market, therefore no need to check if payments are stable.

Growing Dividend: CHDN is not paying a notable dividend for the US market, therefore no need to check if payments are increasing.


Current Payout to Shareholders

Dividend Coverage: CHDN is not paying a notable dividend for the US market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of CHDN's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

6.2yrs

Average management tenure


CEO

Bill Carstanjen (52 yo)

6.17yrs

Tenure

US$10,601,294

Compensation

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 ($USD10.60M) is above average for companies of similar size in the US market ($USD7.31M).

Compensation vs Earnings: Bill's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
William Carstanjen
CEO & Director6.17yrsUS$10.60m1.38%
$ 93.0m
William Mudd
President & COO6.17yrsUS$5.27m0.70%
$ 47.4m
Marcia Dall
Executive VP & CFO5yrsUS$2.59m0.10%
$ 6.8m
Austin Miller
Senior Vice President of Gaming Operations7.17yrsUS$1.81m0.064%
$ 4.3m
Chad Dobson
Chief Accounting Officer & VPno datano datano data
Benjamin Murr
Senior VP & CTO8.75yrsno datano data
Nick Zangari
Vice President of Treasury3.25yrsno datano data
Bradley Blackwell
Senior VP3.58yrsno datano data
Charles Kenyon
Senior Vice President of Human Resourcesno datano datano data
T. Flanery
Senior VP & President of Churchill Downs Racetrackno datano datano data
Shawn Bailey
Senior Vice President of Business Development8yrsno datano data
Anthony Petrillo
Senior VP & President of Arlington Racecourse10yrsno datano data

6.2yrs

Average Tenure

56yo

Average Age

Experienced Management: CHDN's management team is seasoned and experienced (6.2 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
William Carstanjen
CEO & Director6.17yrsUS$10.60m1.38%
$ 93.0m
Douglas Grissom
Independent Director3.25yrsUS$270.75kno data
Thomas Meeker
Director Emeritusno dataUS$1.72mno data
Charles Bidwill
Director Emeritus15.33yrsno datano data
G. Humphrey
Director Emeritusno dataUS$41.59kno data
Carl Pollard
Director Emeritus9.33yrsUS$64.00kno data
Robert Fealy
Independent Director20.75yrsUS$280.75kno data
Ulysses Bridgeman
Independent Director8.75yrsUS$273.25kno data
Daniel Harrington
Independent Director22.75yrsUS$296.60kno data
Paul Varga
Independent Director0.67yrno data0.021%
$ 1.4m
R. Rankin
Independent Chairman of the Board2.5yrsUS$381.50k0.11%
$ 7.5m
Karole Lloyd
Independent Director2.5yrsUS$281.85k0.023%
$ 1.6m

7.0yrs

Average Tenure

65yo

Average Age

Experienced Board: CHDN's board of directors are considered experienced (7 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Churchill Downs Incorporated's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Churchill Downs Incorporated
  • Ticker: CHDN
  • Exchange: NasdaqGS
  • Founded: 1928
  • Industry: Casinos and Gaming
  • Sector: Consumer Services
  • Market Cap: US$6.759b
  • Shares outstanding: 38.86m
  • Website: https://www.churchilldownsincorporated.com

Number of Employees


Location

  • Churchill Downs Incorporated
  • 600 North Hurstbourne Parkway
  • Suite 400
  • Louisville
  • Kentucky
  • 40222
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CHDNNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDJan 1975
CHRBST (Boerse-Stuttgart)YesCommon StockDEEURJan 1975
CHRDB (Deutsche Boerse AG)YesCommon StockDEEURJan 1975

Biography

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. ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/19 06:15
End of Day Share Price2020/10/16 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.