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Churchill Downs Incorporated (CHDN)CHDN

Upturn stock ratingUpturn stock rating
Churchill Downs Incorporated
$140.25
Delayed price
PASS
upturn advisory
  • BUY Advisory
  • Profitable SELL
  • Loss-Inducing SELL
  • Profit
  • Loss ​
  • PASS (Skip invest)*​ ​
Upturn Stock infoUpturn Stock info Stock price based on last close
*as per simulation
(see disclosures)
Time period over
  • ALL
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Upturn Advisory Summary

10/25/2024: CHDN (1-star) is currently NOT-A-BUY. Pass it for now.

Analysis of Past Performance​

Type: Stock
Upturn Star Rating​ Upturn stock ratingUpturn stock rating
Today’s Advisory: PASS
Historic Profit: -4.24%
Upturn Advisory Performance Upturn Advisory Performance3
Avg. Invested days: 44
Upturn Profits based on simulationUpturn Profits based on simulation Profits based on simulation
Stock Returns Performance Upturn Returns Performance 1
Last Close 10/25/2024
Type: Stock
Today’s Advisory: PASS
Historic Profit: -4.24%
Avg. Invested days: 44
Upturn Star Rating​ Upturn stock ratingUpturn stock rating
Stock Returns Performance Upturn Returns Performance 1
Upturn Profits based on simulationUpturn Profits based on simulation Profits based on simulation
Upturn Profits based on simulationUpturn Profits based on simulation Last Close 10/25/2024
Upturn Advisory Performance Upturn Advisory Performance3

Key Highlights

Company Size Large-Cap Stock
Market Capitalization 10.43B USD
Price to earnings Ratio 25.66
1Y Target Price 163.02
Dividends yield (FY) 0.29%
Basic EPS (TTM) 5.53
Volume (30-day avg) 491810
Beta 0.96
52 Weeks Range 111.09 - 150.21
Updated Date 11/12/2024
Company Size Large-Cap Stock
Market Capitalization 10.43B USD
Price to earnings Ratio 25.66
1Y Target Price 163.02
Dividends yield (FY) 0.29%
Basic EPS (TTM) 5.53
Volume (30-day avg) 491810
Beta 0.96
52 Weeks Range 111.09 - 150.21
Updated Date 11/12/2024

Earnings Date

Report Date 2024-10-23
When AfterMarket
Estimate 1.06
Actual 0.97
Report Date 2024-10-23
When AfterMarket
Estimate 1.06
Actual 0.97

Profitability

Profit Margin 15.45%
Operating Margin (TTM) 20.02%

Management Effectiveness

Return on Assets (TTM) 6.25%
Return on Equity (TTM) 41.37%

Revenue by Products

Revenue by Products - Current and Previous Year

Valuation

Trailing PE 25.66
Forward PE -
Enterprise Value 15108717613
Price to Sales(TTM) 3.9
Enterprise Value to Revenue 5.66
Enterprise Value to EBITDA 14.53
Shares Outstanding 73496704
Shares Floating 66541009
Percent Insiders 9.92
Percent Institutions 79.33
Trailing PE 25.66
Forward PE -
Enterprise Value 15108717613
Price to Sales(TTM) 3.9
Enterprise Value to Revenue 5.66
Enterprise Value to EBITDA 14.53
Shares Outstanding 73496704
Shares Floating 66541009
Percent Insiders 9.92
Percent Institutions 79.33

Analyst Ratings

Rating 4.82
Target Price 144.75
Buy 2
Strong Buy 9
Hold -
Sell -
Strong Sell -
Rating 4.82
Target Price 144.75
Buy 2
Strong Buy 9
Hold -
Sell -
Strong Sell -

AI Summarization

Churchill Downs Incorporated (CHDN): A Comprehensive Overview

Company Profile

Detailed History and Background:

Churchill Downs Incorporated (CHDN) is a publicly traded company headquartered in Louisville, Kentucky. Founded in 1875, it boasts a rich history as the owner of the world-renowned Churchill Downs racetrack, home to the legendary Kentucky Derby. The company has expanded beyond horseracing, now encompassing various facets of the gaming and entertainment industry.

Core Business Areas:

  1. Live and Historical Racing: This segment includes live horseracing events at Churchill Downs Racetrack and other racetrack partners, as well as the operation of historical racing machines (HRMs) in Kentucky.

  2. TwinSpires: This online platform offers wagering on thoroughbred horse racing, other sports, and iGaming in legal jurisdictions.

  3. Casino Gaming: CHDN owns and operates casinos in various locations across the United States.

  4. Real Estate: The company owns and manages various real estate assets, including Churchill Downs Racetrack and its surrounding properties.

Leadership and Corporate Structure:

The current CEO of Churchill Downs Incorporated is William C. Carstanjen, who has held the position since 2015. The company operates under a Board of Directors, responsible for overseeing executive management and guiding the company's strategic direction.

Top Products and Market Share:

Top Products:

  1. Kentucky Derby: This marquee event, held annually at Churchill Downs, attracts global attention and generates significant revenue for the company.

  2. TwinSpires Platform: This online platform facilitates wagering on horse racing and other events, offering convenience and accessibility to customers.

  3. Casino Operations: CHDN's casinos contribute significantly to its overall revenue through gaming activities.

Market Share:

CHDN holds the leading market share in the live horseracing industry in the United States, primarily due to its ownership of the Kentucky Derby. The company's online platform, TwinSpires, competes with other major players in the online sports betting and iGaming space.

Product Performance and Market Reception:

The Kentucky Derby consistently attracts millions of viewers and generates substantial betting revenue. TwinSpires has gained traction amongst online bettors, expanding its user base and market share. CHDN's casino operations perform well in their respective markets, contributing to the company's overall profitability.

Total Addressable Market

The total addressable market for CHDN encompasses several segments:

  • Live Horse Racing: The global market for live horse racing is estimated to be around $290 billion, with the US market accounting for a significant portion.

  • Online Sports Betting and iGaming: This market is rapidly growing in the United States, with its potential size estimated to be over $40 billion.

  • Casino Gaming: The global casino gaming market is estimated to be worth over $500 billion, with the US market contributing significantly to this figure.

Financial Performance

Recent Financial Statements:

In its most recent financial report, CHDN reported a revenue of $1.2 billion and a net income of $110 million. The company's profit margins are healthy, with an EPS of $1.38.

Year-over-Year Comparison:

CHDN's financial performance has shown steady growth over the past few years. Revenue and net income have increased, while profit margins have remained stable.

Cash Flow and Balance Sheet:

The company maintains a healthy cash flow position and a strong balance sheet, demonstrating its financial stability and ability to invest in growth initiatives.

Dividends and Shareholder Returns

Dividend History:

CHDN has a consistent dividend payout history, with a recent dividend yield of approximately 1.5%. The payout ratio is currently around 30%.

Shareholder Returns:

Total shareholder returns have been positive over various time periods, demonstrating the company's value creation for investors.

Growth Trajectory

Historical Growth:

CHDN has experienced steady growth over the past five to ten years, driven by expansion in its online and casino segments.

Future Growth Projections:

The company projects continued growth in online sports betting and iGaming, fueled by market expansion and strategic partnerships. Additionally, CHDN aims to further solidify its position in the casino gaming industry.

Recent Initiatives:

CHDN has recently launched new online betting platforms, entered into strategic partnerships, and acquired new casino properties, all contributing to its growth prospects.

Market Dynamics

Industry Overview:

The gambling and entertainment industry is experiencing significant changes, with online platforms playing an increasingly important role. Mergers and acquisitions are shaping the landscape, with companies seeking to expand their reach and offerings.

CHDN's Positioning:

CHDN is well-positioned to benefit from these trends, leveraging its strong brand recognition and established customer base in the horseracing industry to expand into online gaming and other segments. The company's strategic acquisitions and investments further strengthen its competitive edge.

Competitors

Key Competitors:

  • Penn National Gaming (PENN)
  • DraftKings (DKNG)
  • Flutter Entertainment (PDYPY)
  • MGM Resorts International (MGM)
  • Wynn Resorts (WYNN)

Competitive Advantages and Disadvantages:

CHDN's competitive advantages include its iconic brand, strong market position in horseracing, and established online platform. However, the company faces competition from well-funded players in the online gaming space.

Potential Challenges and Opportunities

Key Challenges:

  • Intensifying competition in the online gaming market.
  • Regulatory changes and legal challenges in different jurisdictions.
  • Potential for economic downturns affecting consumer spending.

Opportunities:

  • Expanding into new markets and jurisdictions with legalized online gaming.
  • Developing innovative products and services to attract new customer segments.
  • Leveraging its strong brand and horseracing expertise to create unique offerings.

Recent Acquisitions

Notable Acquisitions:

  • BetAmerica (2020): This acquisition expanded CHDN's online sports betting and iGaming presence in the United States.
  • Presque Isle Downs & Casino (2019): This acquisition added a casino property to CHDN's portfolio, strengthening its position in the Pennsylvania market.
  • Big Fish Games (2018): This acquisition diversified CHDN's revenue streams and provided access to a large user base of casual gamers.

AI-Based Fundamental Rating

Rating: 7.5 out of 10

Justification:

CHDN exhibits strong fundamentals, including consistent revenue growth, stable profit margins, and a healthy financial position. Moreover, the company benefits from its strong brand recognition and established market position in the horseracing industry. However, competition in the online gaming space presents a challenge that CHDN needs to address effectively.

Sources and Disclaimers

Sources:

  • Churchill Downs Incorporated Investor Relations website
  • SEC filings
  • Market research reports

Disclaimer:

This overview is for informational purposes only and should not be considered investment advice. It is essential to conduct your own research and due diligence before making any investment decisions.

Upturn AI SummarizationUpturn AI Summarization AI Summarization is directionally correct and might not be accurate.

Upturn AI SummarizationUpturn AI Summarization Summarized information shown could be a few years old and not current.

Upturn AI SummarizationUpturn AI Summarization Fundamental Rating based on AI could be based on old data.

Upturn AI SummarizationUpturn AI Summarization AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.​

About Churchill Downs Incorporated

Exchange NASDAQ Headquaters Louisville, KY, United States
IPO Launch date 1993-03-29 CEO & Director Mr. William C. Carstanjen
Sector Consumer Cyclical Website https://www.churchilldownsincorporated.com
Industry Gambling Full time employees 5660
Headquaters Louisville, KY, United States
CEO & Director Mr. William C. Carstanjen
Website https://www.churchilldownsincorporated.com
Website https://www.churchilldownsincorporated.com
Full time employees 5660

Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. It operates through three segments: Live and Historical Racing, TwinSpires, and Gaming. The company operates pari-mutuel gaming entertainment venues; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; retail sports books; casino gaming; and Terre Haute Casino and The Rose Gaming Resorts. It also 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. In addition, the company manufactures and operates pari-mutuel wagering systems for racetracks, off-track betting facilities, and other pari-mutuel wagering businesses. Churchill Downs Incorporated was founded in 1875 and is headquartered in Louisville, Kentucky.

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