Churchill Downs Inc

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CHDN : NASDAQ : Services
$154.55 | %
Today's Range: 154.25 - 156.95
Avg. Daily Volume: 62100.0
03/24/17 - 4:00 PM ET

Financial Analysis

CHURCHILL DOWNS INC's gross profit margin for the fourth quarter of its fiscal year 2016 is essentially unchanged when compared to the same period a year ago. The company managed to grow both sales and net income at a faster pace than the average competitor in its industry this quarter as compared to the same quarter a year ago. CHURCHILL DOWNS INC has very weak liquidity. Currently, the Quick Ratio is 0.40 which clearly shows a lack of ability to cover short-term cash needs. The company's liquidity has increased from the same period last year.

During the same period, stockholders' equity ("net worth") has increased by 10.98% from the same quarter last year. The key liquidity measurements indicate that the company is in a position in which financial difficulties could develop in the near future.

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Income Statement Q4 FY16 Q4 FY15
Net Sales ($mil)278.3272.39
EBITDA ($mil)50.448.48
EBIT ($mil)17.717.07
Net Income ($mil)26.87.51

Balance Sheet Q4 FY16 Q4 FY15
Cash & Equiv. ($mil)83.0104.21
Total Assets ($mil)2254.42277.44
Total Debt ($mil)921.7781.78
Equity ($mil)685.0617.2

Profitability Q4 FY16 Q4 FY15
Gross Profit Margin30.8729.51
EBITDA Margin18.117.79
Operating Margin6.366.27
Sales Turnover0.580.53
Return on Assets4.792.86
Return on Equity15.7810.56
Debt Q4 FY16 Q4 FY15
Current Ratio0.530.35
Interest Expense10.97.26
Interest Coverage1.622.35

Share Data Q4 FY16 Q4 FY15
Shares outstanding (mil)16.516.6
Div / share1.321.15
Book value / share41.5237.18
Institutional Own % n/a n/a
Avg Daily Volume61704.092338.0


BUY. The current P/E ratio indicates a significant discount compared to an average of 38.13 for the Hotels, Restaurants & Leisure industry and a discount compared to the S&P 500 average of 26.33. Conducting a second comparison, its price-to-book ratio of 3.73 indicates a premium versus the S&P 500 average of 2.93 and a significant discount versus the industry average of 9.42. The price-to-sales ratio is below the S&P 500 average and is well below the industry average, indicating a discount. Upon assessment of these and other key valuation criteria, CHURCHILL DOWNS INC proves to trade at a discount to investment alternatives within the industry.

1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
CHDN 24.25 Peers 38.13   CHDN 11.27 Peers 16.34

Discount. A lower P/E ratio than its peers can signify a less expensive stock or lower growth expectations.

CHDN is trading at a significant discount to its peers.


Discount. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures.

CHDN is trading at a significant discount to its peers.

1 2 3 4 5
premium   discount
  Price to
1 2 3 4 5
premium   discount
CHDN 20.94 Peers 23.78   CHDN 8.66 Peers 2.82

Average. An average price-to-projected earnings ratio can signify an industry neutral stock price and average future growth expectations.

CHDN is trading at a valuation on par with its peers.


Premium. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples.

CHDN trades at a significant premium to its peers.

1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
CHDN 3.73 Peers 9.42   CHDN 73.64 Peers 79.35

Discount. A lower price-to-book ratio makes a stock more attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet.

CHDN is trading at a significant discount to its peers.


Average. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios.

CHDN is expected to keep pace with its peers on the basis of earnings growth.

1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
CHDN 1.95 Peers 3.24   CHDN 7.94 Peers 2.81

Discount. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales.

CHDN is trading at a significant discount to its industry on this measurement.


Higher. A sales growth rate that exceeds the industry implies that a company is gaining market share.

CHDN has a sales growth rate that significantly exceeds its peers.



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