CHURCHILL DOWNS INCORPORATED |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 129.4 USD | +0.16% |
|
+8.81% | -4.07% |
| Apr. 26 | Truist Raises Price Target on Churchill Downs to $145 From $140, Keeps Buy Rating | MT |
| Apr. 25 | Transcript : Churchill Downs Incorporated, Q1 2024 Earnings Call, Apr 25, 2024 |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 5,465 | 7,685 | 9,214 | 7,908 | 10,065 | 9,514 | - | - |
| Enterprise Value (EV) 1 | 6,843 | 9,240 | 10,820 | 12,309 | 14,680 | 14,100 | 13,710 | 12,225 |
| P/E ratio | 40.6 x | -93.6 x | 37.9 x | 18.5 x | 24.6 x | 22.4 x | 18.4 x | - |
| Yield | 0.42% | 0.32% | 0.28% | 0.34% | - | 0.31% | 0.33% | 0.36% |
| Capitalization / Revenue | 4.11 x | 7.29 x | 5.77 x | 4.37 x | 4.09 x | 3.5 x | 3.12 x | 2.8 x |
| EV / Revenue | 5.15 x | 8.77 x | 6.77 x | 6.8 x | 5.96 x | 5.19 x | 4.5 x | 3.6 x |
| EV / EBITDA | 15.2 x | 32.3 x | 17.3 x | 16.1 x | 14.3 x | 12.5 x | 10.7 x | 8.52 x |
| EV / FCF | 28.4 x | -100 x | 29.4 x | 141 x | -206 x | 23.1 x | 19.1 x | 14.2 x |
| FCF Yield | 3.53% | -1% | 3.4% | 0.71% | -0.49% | 4.33% | 5.25% | 7.04% |
| Price to Book | 10.8 x | - | 29.9 x | 14.3 x | 11.2 x | 8.62 x | 6.08 x | 4.73 x |
| Nbr of stocks (in thousands) | 79,664 | 78,910 | 76,498 | 74,807 | 74,595 | 73,505 | - | - |
| Reference price 2 | 68.60 | 97.40 | 120.4 | 105.7 | 134.9 | 129.4 | 129.4 | 129.4 |
| Announcement Date | 2/26/20 | 2/24/21 | 2/23/22 | 2/22/23 | 2/21/24 | - | - | - |
1USD in Million2USD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,330 | 1,054 | 1,597 | 1,810 | 2,462 | 2,718 | 3,047 | 3,398 |
| EBITDA 1 | 451.4 | 286.5 | 627 | 763.6 | 1,024 | 1,131 | 1,285 | 1,434 |
| EBIT 1 | 215.7 | 60.2 | 284.4 | 321.8 | 564 | 725 | 885.7 | 942.2 |
| Operating Margin | 16.22% | 5.71% | 17.81% | 17.78% | 22.91% | 26.68% | 29.06% | 27.72% |
| Earnings before Tax (EBT) 1 | 196.4 | 8 | 343.6 | 608.8 | 561.8 | 569.1 | 712.6 | - |
| Net income 1 | 137.5 | -81.9 | 249.1 | 439.4 | 417.3 | 429.9 | 525.2 | - |
| Net margin | 10.34% | -7.77% | 15.6% | 24.28% | 16.95% | 15.82% | 17.24% | - |
| EPS 2 | 1.690 | -1.040 | 3.175 | 5.710 | 5.490 | 5.768 | 7.040 | - |
| Free Cash Flow 1 | 241.3 | -92.3 | 367.7 | 87.3 | -71.2 | 610.2 | 719.5 | 861 |
| FCF margin | 18.15% | -8.76% | 23.02% | 4.82% | -2.89% | 22.45% | 23.61% | 25.34% |
| FCF Conversion (EBITDA) | 53.46% | - | 58.64% | 11.43% | - | 53.95% | 55.98% | 60.02% |
| FCF Conversion (Net income) | 175.49% | - | 147.61% | 19.87% | - | 141.95% | 136.98% | - |
| Dividend per Share 2 | 0.2905 | 0.3110 | 0.3335 | 0.3570 | - | 0.4018 | 0.4282 | 0.4680 |
| Announcement Date | 2/26/20 | 2/24/21 | 2/23/22 | 2/22/23 | 2/21/24 | - | - | - |
1USD in Million2USD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 364.8 | 364.1 | 582.5 | 383.1 | 480.1 | 559.5 | 768.5 | 572.5 | 561.2 | 590.9 | 846.5 | 634.6 | 645.7 | 685.4 | 954.4 |
| EBITDA 1 | 127 | 128.5 | 291.2 | 163.2 | 180.7 | 222.9 | 363.7 | 218.2 | 219.1 | 242.5 | 402.6 | 239.1 | 248 | 278.1 | 456 |
| EBIT 1 | 34.7 | 47.4 | 199.7 | 63 | 11.7 | 119.9 | 225.6 | 112.3 | 106.2 | 126.3 | 306.9 | 142.3 | 147.1 | 176.1 | 343 |
| Operating Margin | 9.51% | 13.02% | 34.28% | 16.44% | 2.44% | 21.43% | 29.36% | 19.62% | 18.92% | 21.37% | 36.26% | 22.43% | 22.78% | 25.69% | 35.94% |
| Earnings before Tax (EBT) 1 | 53.7 | 58.6 | 479.9 | 73.4 | -3.1 | 208.9 | 199.2 | 81.8 | 71.9 | 101.8 | 267.8 | 96.18 | 103.3 | 129.1 | 319.9 |
| Net income 1 | 43.3 | 42.1 | 339.3 | 57 | 1 | 155.7 | 143 | 61 | 57.6 | 80.4 | 199.1 | 71.45 | 76.9 | 98.3 | 244.2 |
| Net margin | 11.87% | 11.56% | 58.25% | 14.88% | 0.21% | 27.83% | 18.61% | 10.66% | 10.26% | 13.61% | 23.52% | 11.26% | 11.91% | 14.34% | 25.59% |
| EPS 2 | 0.5550 | 0.5400 | 4.395 | 0.7450 | 0.0150 | 2.045 | 1.860 | 0.7900 | 0.7600 | 1.080 | 2.670 | 0.9575 | 1.032 | 1.320 | 3.290 |
| Dividend per Share 2 | 0.3335 | - | - | - | 0.3570 | - | - | - | - | - | - | - | 0.4072 | - | - |
| Announcement Date | 2/23/22 | 4/27/22 | 7/27/22 | 10/26/22 | 2/22/23 | 4/26/23 | 7/26/23 | 10/25/23 | 2/21/24 | 4/24/24 | - | - | - | - | - |
1USD in Million2USD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 1,378 | 1,555 | 1,605 | 4,401 | 4,615 | 4,586 | 4,196 | 2,710 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 3.052 x | 5.427 x | 2.56 x | 5.763 x | 4.507 x | 4.054 x | 3.264 x | 1.889 x |
| Free Cash Flow 1 | 241 | -92.3 | 368 | 87.3 | -71.2 | 610 | 719 | 861 |
| ROE (net income / shareholders' equity) | 36.7% | 7.61% | 79.5% | 102% | 57.8% | 42.7% | 41.6% | 35.3% |
| ROA (Net income/ Total Assets) | 8.41% | 1.27% | 9.46% | 9.56% | 6.34% | 12.1% | 13.6% | 13.8% |
| Assets 1 | 1,634 | -6,439 | 2,634 | 4,594 | 6,581 | 3,550 | 3,850 | - |
| Book Value Per Share 2 | 6.340 | - | 4.030 | 7.370 | 12.00 | 15.00 | 21.30 | 27.40 |
| Cash Flow per Share 2 | - | 1.770 | 5.860 | 6.630 | 7.950 | 8.500 | 9.890 | 11.60 |
| Capex 1 | 131 | 234 | 91.8 | 424 | 677 | 574 | 244 | 330 |
| Capex / Sales | 9.87% | 22.22% | 5.75% | 23.4% | 27.48% | 21.11% | 8% | 9.71% |
| Announcement Date | 2/26/20 | 2/24/21 | 2/23/22 | 2/22/23 | 2/21/24 | - | - | - |
1USD in Million2USD
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
C-
Sell
Buy
Mean consensus
BUY
Number of Analysts
10
Last Close Price
129.4
USD
Average target price
146.7
USD
Spread / Average Target
+13.33%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -4.07% | 9.51B | |
| +7.14% | 33.01B | |
| +5.10% | 24.32B | |
| -18.63% | 19.87B | |
| -18.07% | 19.35B | |
| -1.52% | 16.62B | |
| -21.91% | 7.92B | |
| +0.41% | 7.05B | |
| +6.70% | 7.13B | |
| -21.12% | 6.24B |
- Stock Market
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- Financials Churchill Downs Incorporated
