Fact based stock research
Churchill Downs (NasdaqGS:CHDN)

US1714841087

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For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).

(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.

Churchill Downs stock research in summary

churchilldownsincorporated.com

ANALYSIS: With an Obermatt Combined Rank of 10 (worse than 90% compared with investment alternatives), Churchill Downs (Casinos & Gaming, USA) shares have lower financial characteristics compared with similar stocks. Shares of Churchill Downs are low in value (priced high) with a consolidated Value Rank of 37 (worse than 63% of alternatives), show below-average growth (Growth Rank of 13), and are riskily financed (Safety Rank of 44), which means above-average debt burdens. ...read more

RECOMMENDATION: A Combined Rank of 10, is a sell recommendation based on Churchill Downs's financial characteristics. As the company Churchill Downs's key financial metrics all exhibit below-average performance, such as low value (Obermatt Value Rank of 37), low growth (Obermatt Growth Rank of 13), and risky financing practices (Obermatt Safety Rank of 44), it is a somewhat questionable stock investment, where the risk of paying too much for the shares is significant, unless the company has an exceptionally bright future. Such poor financial performance sometimes indicates that the company's business is all concentrated in some distant future. This is sometimes the case for high-tech or biotechnology companies. If they own properties that only provide cash flows in the future, the stock may look excessively expensive and risky today. In such cases, the Obermatt Method has limited value as it is based on facts we can observe today. If the facts are all in the future, stock investing becomes guesswork, and this should only be a driver in a limited number of investments that should only amount to a small fraction of a safe portfolio. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	37
Growth Rank	13
Safety Rank	44
Combined Rank	10

Country	USA
Industry	Casinos & Gaming
Index	NASDAQ, S&P MIDCAP
Size class	Medium

31-Jul-2025. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

Multiple opinions. One number.

Analysts rarely agree on a stock’s future. So, who do you believe? Obermatt translates those collective views into a single Sentiment Rank. That plus the financial ranks give you the ultimate 360° View. Sign up to access them.

Why popular stocks have low ratings

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Review the performance ranks of the individual metrics that form each investment strategy.

Research History: Churchill Downs

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	19	16	31	37
GROWTH
GROWTH	89	67	65	13
SAFETY
SAFETY	48	24	37	44
SENTIMENT
SENTIMENT	66	68	96	^new
360° VIEW
360° VIEW	66	36	67	^new

Most recent update of the stock research: 31-Jul-2025. Financial reporting date used for calculating ranks: 31-Mar-2025. Stock research history is based on the Obermatt Method. The higher the rank, the better Churchill Downs is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	19	16	31	37
GROWTH
GROWTH	89	67	65	13
SAFETY
SAFETY	48	24	37	44
COMBINED
COMBINED	48	15	37	10

Last update of combined financial performance: 31-Jul-2025. Stock analysis on combined financial performance: The higher the rank of Churchill Downs the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 37 (worse than 63% compared with alternatives), Churchill Downs shares are more expensive than the average comparable stock. The Value Rank is based on consolidating four value indicators, with half of the indicators below and half above average for Churchill Downs. Price-to-Profit (also referred to as price-earnings, P/E) is 54 which means that the stock price compared with what market professionals expect for future profits is lower than for 54% of comparable companies, indicating a good value concerning Churchill Downs's profit levels. The same is valid for Price-to-Book Capital (also referred to as market-to-book ratio) with a Price-to-Book Rank of 27, which means that the stock price is lower as regards to invested capital than for 27% of comparable investments. On the other hand, Price-to-Sales is less favorable than 75% of alternatives (only 25% of peers have an even less favorable ratio). The same is valid for dividend yield, which is lower than 41% of comparable companies, making the stock more expensive as regards to the company's expected dividend payouts. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 37, is a hold recommendation based on Churchill Downs's stock price compared with the company's operational size and dividend yields. This is a puzzling picture, because it means that profits are high while dividends are low. Since the stock price is low compared with invested capital but high in respect to expected revenues, it means that the company has more invested capital than peers for generating the same amount of revenue. Since profits are higher, it could be a "cash cow" situation (using the classic Boston Consulting BCG matrix naming convention) where the company is on a downward trend, still living from the profits of past products. As the company pays low dividends, it may harbor the opinion that a turnaround is possible, and it rather invests the cash than pay it out to shareholders, thus sealing the company's fate early. Any investment optimism should only be a buy trigger once thorough research is completed. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision, which is especially important in this case, as the financial indicators are inconclusive. ...read more

VALUE METRICS	2022	2023	2024	2025
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	13	9	19	25
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	43	34	61	54
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	5	19	19	27
DIVIDEND YIELD
DIVIDEND YIELD	73	64	56	59
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	19	16	31	37

Last update of Value Rank: 31-Jul-2025. Stock analysis on value ratios: The higher the rank, the lower the value ratio of Churchill Downs; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 13 (better than 13% compared with alternatives), Churchill Downs shows one of the most restricted growth dynamics in its industry. There is little momentum in this company. The Growth Rank is based on consolidating four value indicators, with all four metrics below average for Churchill Downs. Sales Growth has a rank of 47, which means that currently professionals expect the company to grow less than 53% of its competitors. The same is valid for Profit Growth, with a rank of 30, and Capital Growth with 1. In addition, Stock Returns have a below market rank of 17, which means that the stock returns have recently been below 83% of alternative investments. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 13, is a sell recommendation for growth and momentum investors. These are all bad growth momentum indicators. These are negative signals for investors interested in growth companies. Value is likely good for this company, as investors may have left this stock in the cold. If that is the case, investors should look at the company's outlook, especially Sentiment performance, because it may be a turnaround situation that could entail above-average stock returns in the future. But it remains a risky bet, as no growth signals are in the green zone yet. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case, especially since the growth performance is low here. ...read more

GROWTH METRICS	2022	2023	2024	2025
REVENUE GROWTH
REVENUE GROWTH	61	78	80	47
PROFIT GROWTH
PROFIT GROWTH	85	60	72	30
CAPITAL GROWTH
CAPITAL GROWTH	96	16	14	1
STOCK RETURNS
STOCK RETURNS	33	63	53	17
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	89	67	65	13

Last update of Growth Rank: 31-Jul-2025. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of Churchill Downs.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 44 (better than 44% compared with alternatives), the company Churchill Downs has financing practices on the riskier side, which means that their overall debt burden is above the industry average. This doesn't mean that the business of Churchill Downs is also risky, it only means that the company is on the riskier side in respect to bankruptcy in case things turn sour, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with just one indicator above average for Churchill Downs and the other two below average. Refinancing is at 51, meaning the portion of the debt about to be refinanced is below average. It has less debt in the refinancing stage than 51% of its competitors. But Leverage is high with a rank of 40, meaning the company has an above-average debt-to-equity ratio. It has more debt than 60% of its competitors. Liquidity is also on the riskier side with a rank of 47, meaning the company generates less profit to service its debt than 53% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 44 (worse than 56% compared with alternatives), Churchill Downs has a financing structure that is riskier than that of its competitors. A good Refinancing Rank means that the problems of the company may not be around the corner. But high Leverage is only good if things go well, and low Liquidity is a signal for caution. The financing signals for Churchill Downs are on the riskier side, requiring the company's future to be on the safer side. Investors may want to look at Growth and Sentiment ranks before making an investment decision. In the long-term, investors may have a debt challenge with Churchill Downs and should also compare Obermatt’s Value, Growth, and Sentiment Ranks before making a decision. ...read more

SAFETY METRICS	2022	2023	2024	2025
LEVERAGE
LEVERAGE	30	24	28	40
REFINANCING
REFINANCING	39	44	50	51
LIQUIDITY
LIQUIDITY	74	52	44	47
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	48	24	37	44

Last update of Safety Rank: 31-Jul-2025. Stock analysis on safety metrics: The higher the rank, the lower the leverage of Churchill Downs and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2022	2023	2024	2025
ANALYST OPINIONS
ANALYST OPINIONS	n/a	85	95	^new
OPINIONS CHANGE
OPINIONS CHANGE	23	50	82	^new
PRO HOLDINGS
PRO HOLDINGS	80	62	82	^new
MARKET PULSE
MARKET PULSE	42	31	47	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	66	68	96	^new

Last update of Sentiment Rank: 31-Jul-2025. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for Churchill Downs.
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