Churchill Downs Incorporated (CHDN)
Consumer Discretionary · Casinos & Gaming · NASDAQ
A diversified leader in horse racing, casino gaming, and digital wagering platforms.
What Churchill Downs Incorporated does
Churchill Downs Incorporated is a racing, gaming, and online wagering company. Its operations include live and historical horse racing, casino gaming, and various wagering services and technology platforms.
Themes: horse racing, casino gaming, online wagering, betting technology
Fundamentals
- Price$93.71 as of 2026-08-21 close
- Market cap$6.5B as of 2026-08-21
- 1-year return-8.5% 2025-08-21 close $102.46 → 2026-08-21 close $93.71
- P/E14.85 as of 2026-08-24
- Net margin+13.8% as of 2026-08-24
- Gross margin+34.8% as of 2026-08-24
- ROE+36.9% as of 2026-08-24
- Debt / equity3.56 as of 2026-08-24
- Revenue growth (YoY)+5.7% as of 2026-08-24
- Revenue CAGR (3y)+17.4% SEC XBRL
- Beta0.77 as of 2026-08-24
- Last reported earnings2026-07-29 SEC EDGAR Form 8-K (Item 2.02)
Dividend: yield +0.3%; at least 4 years of non-decreasing per-share dividends (SEC XBRL) — we do not hold the year before it, so the real streak may be longer.
How CHDN compares in its sector
- price-to-earnings ratiomiddle range 266 covered Consumer Discretionary peers, as of 2026-08-24
- net profit margintop 25% 334 covered Consumer Discretionary peers, as of 2026-08-24
- operating margintop 10% 334 covered Consumer Discretionary peers, as of 2026-08-24
- gross marginmiddle range 331 covered Consumer Discretionary peers, as of 2026-08-24
- return on equitytop 25% 334 covered Consumer Discretionary peers, as of 2026-08-24
- 3-year revenue CAGRtop 25% 325 covered Consumer Discretionary peers
- indicated dividend yieldbottom 10% 162 covered Consumer Discretionary peers, as of 2026-08-24
Position among covered Consumer Discretionary companies that report each metric (minimum 5 peers). A relative position within our covered catalog — not a valuation, quality, or investment judgment. A higher percentile is simply a higher value (for P/E, more expensive on earnings — never "better"). Informational only.
Top 10 scores & list membership
CHDN is not currently in any published Top 10 list. Its scores are below.
Long-term score
49.2 #529 of 987 scored · #38 of 115 in Consumer Discretionary
Profitability 78th (return on equity 36.9%, operating margin 24.1%) and growth 64th (3-year revenue CAGR 17.4%, revenue growth year over year 5.7%); weakest is long-term trend (28th, a "death cross" — its 50-day average is below its 200-day).
Short-term score
37.7 #1490 of 1,704 scored · #157 of 186 in Consumer Discretionary
Volume and participation 64th: trading volume is about normal versus its 30-day average; trend 56th: the price is 8% above the average price paid over the period covered, so the typical buyer over that stretch is showing a gain; weakest is catalysts 29th: open-market insider buys in 90 days 1, analysts' average price target is unchanged from the prior reading. Its score is docked 10 points for overextended (RSI above 75 or stochastic above 90).
Scores as of 21 Aug 2026. Each bar is a percentile: how this company ranked against every company the score ranked, 0–100. A list is a published formula and its output, not a recommendation. Method version 2.
Dividend coverage (FY2025)
Covered by reported results. In FY2025, CHDN's dividend was covered by reported results (earnings payout 8%, operating-cash-flow payout 4%). This describes past coverage, not a forecast.
- Earnings payout8% dividends / net income
- Operating-cash-flow payout4% dividends / operating cash flow — capital spending was not reported, so this does not subtract it
Coverage derived from reported SEC EDGAR XBRL figures for FY2025 (dividends paid vs. net income and free cash flow, same fiscal year). This describes PAST coverage for one fiscal year — it does not predict whether a dividend will be maintained, raised, or cut, and a one-year payout ratio can be distorted by non-recurring items. Informational only — not financial advice.
How Churchill Downs Incorporated looks technically
Churchill Downs Incorporated (CHDN) is trading 1.1% below its 200-day average, the long-term trend line — a long-term downtrend. Its 50-day average crossed below its 200-day average about 116 trading days ago — a "death cross", a bearish long-term signal. There is no clear trend right now — the price is choppy (ADX, a 0–100 trend-strength gauge, is 14, below the 25 that marks a real trend). Momentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 65, neither overbought (above 70) nor oversold (below 30). It just made a new 20-day high, its first since 2026-05-01, pushing above its recent trading range. It is 20.8% below its highest point of the past year.
Trend
8
| Distance from the 200-day | it is trading 1.1% below its 200-day average, the long-term trend line — a long-term downtrend | -1.1% |
|---|---|---|
| 50-day moving average | its average price over the last 50 trading days — a short-term trend line — is $87.09 | $87.09 |
| 200-day moving average | its average price over the last 200 trading days — the long-term trend line — is $94.77 | $94.77 |
| Swing structure | each recent peak has been lower than the one before it and each dip deeper — the pattern chart-watchers call a downtrend, which describes where price has already been and not where it goes next | lower highs and lower lows |
| Last swing turn | its last significant turn was a swing low 22 calendar days ago — the swings before that are what the structure reading is measured on | 22 sessions |
| Wave structure | its recent swings can be read as a completed three-part downward correction — a pullback in the A-B-C shape Elliott-wave chartists use; the labelling fails if price closes below 79.41. It is the only labelling that fits, though not with textbook proportions, and it describes the swings already printed, not what comes next. | possible three-wave downward correction, complete (atypical proportions) |
| Since the 50/200 cross | its 50-day average crossed below its 200-day average about 116 trading days ago — a "death cross", a bearish long-term signal | 116 sessions |
| Trend strength (14-day ADX) | there is no clear trend right now — the price is choppy (ADX, a 0–100 trend-strength gauge, is 14, below the 25 that marks a real trend) | 14.1 |
Momentum
3
| 14-day RSI | momentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 65, neither overbought (above 70) nor oversold (below 30) | 64.7 |
|---|---|---|
| Position in its 14-day range | it is trading right at the top of its 14-day range ($82.43 to $93.92) — its "stochastic" reading is 98 out of 100, where 0 would mean closing exactly at the 14-session low and 100 exactly at the high. This measures WHERE the price sits inside its recent range, which is a different question from the RSI beside it: RSI is a momentum gauge, measuring how FAST the price has been moving, so a stock can drift quietly to the bottom of its range with an ordinary RSI, or fall sharply and still sit in the middle. It has been climbing within that range over the last few sessions. | 98.2 |
| Since the MACD crossed zero | MACD, a trend-momentum gauge, is in positive territory (momentum leaning bullish) | 14 sessions |
Range
12
| 52-week high | its highest closing price over the past year (about 252 trading days) was $118.35 | $118.35 |
|---|---|---|
| From the 52-week high | it is 20.8% below its 52-week high (its highest price of the past year) | -20.8% |
| Above the 52-week low | it is 18.0% above its 52-week low (its lowest price of the past year) | +18.0% |
| Below the 52-week high | it is 20.8% below its highest point of the past year | 20.8% |
| Since a 20-day breakout | it just made a new 20-day high, its first since 2026-05-01, pushing above its recent trading range | 1 session |
| Since a 55-day breakout | it just made a new 55-day high, its first since 2026-05-01, pushing above its recent trading range | 1 session |
| All-time high | its highest closing price on record is $150.45 (set on 2023-05-03) | $150.45 |
| Given back of the 52-week move | over the past year its closes ranged ($82.14 to $117.59), and it has recovered roughly a third of its fall from last year’s high — 33% of it. Chart-watchers call 61.8%-65% given back the "golden pocket" — for this company that is $104.05 to $105.18. It is watched widely enough that orders cluster there, which is the honest reason it matters; it is not a forecast. | 32.6% |
| From the all-time high | it is 37.7% below its all-time high | -37.7% |
| Nearest price level | it is sitting right on a support level at $93.27 — a price it turned at three times since 2025-09-22, most recently on 2026-06-16. Since 2024-08-21 it has 6 such levels below the current price and 11 above. Levels like these describe where the price has reversed or paused before; they are not a forecast of where it will go. | -0.5% |
| All-time low | its lowest closing price on record is $3.45 (set on 2009-03-09) | $3.45 |
| Above the all-time low | it is 2614.9% above its all-time low | +2,615% |
Volatility
5
| Band width vs its own 6 months | day-to-day price swings are about average versus its own recent 6-month history | 63rd percentile |
|---|---|---|
| Typical daily range | in a typical session it travels about $2.82 between its high and its low — about 3.0% of its price. That is its "average true range" over the last 14 sessions, which also counts the distance from the previous close, so a day that opens well away from yesterday counts as the large move it was | $2.82 |
| Bollinger bands (20-day, ±2σ) | most of its recent trading has stayed between about $82.45 and $93.87 — the "Bollinger bands", a range drawn two standard deviations either side of its 20-day average price, which widens when the stock gets more volatile and narrows when it settles | $82.45 – $88.16 – $93.87 |
| Typical daily range (% of price) | its price moves about 3.0% in a typical session — about typical for the companies we cover. This is the average gap between a session's high and low over the last 14 sessions, counting overnight moves, expressed against the current price so it can be compared with companies trading at any price | 3.0% |
| Stretch from the 200-day average | it is trading 0.4 daily ranges below its 200-day average price (1.1% below it in plain percentage terms) — a way of asking how far it has stretched from its own average in units of how far it normally moves in a day, so a calm company and a jumpy one can be compared on the same scale | 0.4 daily ranges below its 200-day average |
Volume
1
| Volume vs its 30-day average | trading volume is about normal versus its 30-day average | 0.94× |
|---|
Analyst
2
| Change in the average price target | analysts' average price target is unchanged from the prior reading | 0.0% |
|---|---|---|
| Change in the consensus rating | not available for this company yet | n/a |
Candlestick patterns
2
| Since a doji | 7 sessions ago it opened and closed at almost the same price after trading through a wider range — a "doji", the classic picture of buyers and sellers finishing the session level | 7 sessions ago |
|---|---|---|
| Since a bullish engulfing | 8 sessions ago it opened below the previous session's close and finished above that session's open — a "bullish engulfing" pair, where one up day more than undid the down day before it | 8 sessions ago |
Price gaps
2
| Gap at the open | it opened on 2026-08-21 at essentially the same price it closed at the session before — no meaningful overnight gap | +0.0% |
|---|---|---|
| Gap filled | a 3.5% gap down opened on 2026-07-30 has been "filled" 8 sessions ago — price traded back through the level the gap left behind, and it took 8 sessions to close | 8 sessions ago |
Price streaks
1
| Closing streak | it has closed higher 3 sessions in a row, a +5.72% move over the run — an unbroken run of up days, which describes what has already happened and says nothing about the next session | 3 sessions up |
|---|
Relative strength
4
| vs market, 1 month | over the past 1 month this stock beat the market by 10.1 percentage points (the stock gained 12.5% while the market gained 2.3%) | +10.1% |
|---|---|---|
| vs market, 3 months | over the past 3 months this stock beat the market by 6.5 percentage points (the stock gained 9.6% while the market gained 3.1%) | +6.5% |
| vs market, 6 months | over the past 6 months this stock lagged the market by 11.1 percentage points (the stock gained 0.0% while the market gained 11.1%) | -11.1% |
| vs market, 12 months | over the past 12 months this stock lagged the market by 29.0 percentage points (the stock lost 8.5% while the market gained 20.5%) | -29.0% |
Signal agreement
2
| Bullish technical signals | 3 of the 9 technical signals we can compute for it are currently in a bullish state: a fresh 20-day high, MACD momentum is positive, trading above the Ichimoku cloud — these describe past price behaviour, not a forecast | 3 of 9 |
|---|---|---|
| Bearish technical signals | 4 of the 9 technical signals we can compute for it are currently in a bearish state: a "death cross" — its 50-day average is below its 200-day, trading below its 200-day average, lagging the market over 6 months, near the top of its 14-day range (overbought) — these describe past price behaviour, not a forecast | 4 of 9 |
Trend (Ichimoku cloud)
1
| Vs the Ichimoku cloud | trading 1.7% above the Ichimoku cloud — a band drawn from where its own highs and lows sat up to 2026-07-16 and projected forward over today's price, the side traders read as an established uptrend, with the band below acting as the level that would have to give way. The band itself is moderate, spanning 4.8% of the share price. | +1.7% |
|---|
Volume-weighted price
2
| Vs this year’s average price paid | the price is 3% above the average price paid so far this year, so the typical buyer over that stretch is showing a gain. That average is $90.70 — a volume-weighted average of daily closes over 157 sessions, not a true tick-by-tick VWAP. | +3.3% |
|---|---|---|
| Vs the average paid since it last reported | the price is 8% above the average price paid since it last reported on 2026-07-29 (its 10-Q), so the typical buyer over that stretch is showing a gain. That average is $87.00 — a volume-weighted average of daily closes over 18 sessions, not a true tick-by-tick VWAP. | +7.7% |
Price levels it has turned at before
CHDN last closed at $93.71 on 2026-08-21. Since 2024-08-21 it has turned at 6 prices below its last close and 11 above; the 3 nearest below and the 3 nearest above are listed, nearest first.
| Level | Side | Distance | Evidence |
|---|---|---|---|
| $93.27 | Support | 0.5% below the last close | turned there three times · 2025-09-22 to 2026-06-16 |
| $96.12 | Resistance | 2.6% above the last close | turned there four times · 2025-04-09 to 2026-04-14 |
| $90.97 | Support | 2.9% below the last close | turned there four times · 2025-05-23 to 2026-07-29 |
| $99.19 | Resistance | 5.8% above the last close | turned there three times · 2025-05-14 to 2025-09-29 |
| $88.20 | Support | 5.9% below the last close | turned there four times · 2026-02-17 to 2026-05-19 |
| $102.59 | Resistance | 9.5% above the last close | turned there three times · 2025-06-10 to 2026-04-24 |
A level is a price this company reversed or paused at more than once — they describe past behaviour, not a forecast of where the price will go.
Wave structure
Its recent swings can be read as a three-part downward correction — the A-B-C shape chartists use for a pullback — now complete.
This labelling fails — stops being a possible reading at all — if it closes below $79.41.
It is the only labelling that fits these swings, though its proportions are not the textbook ones.
This labelling was already in place when we began recording count changes on 2026-08-13, so how long it has stood is not something we can say yet.
Read from daily closes as of 2026-08-21.
An Elliott-wave count describes the swings already printed and the level that would disprove it. It is not a forecast, a target, or advice.
Screens: Trading below the 200-day moving average · Pulled back from the 12-month high · Broke out to a new 20-day high · trendless / choppy (low ADX) · lagging the market · At the top of its 14-day range (stochastic above 80) | Learn: moving average · golden cross · adx · rsi · breakout · fifty two week high low
Based on daily closing prices as of 2026-08-21. Describes past price behavior only — informational, not financial advice.
Analyst consensus
- Mean price target$131.64 range $100.00 – $157.00; median $132.00
Analyst estimates, as of 2026-08-19. These are third-party analyst opinions and price targets, aggregated — not a recommendation, prediction, or advice from stocks-llm. Informational only.
Analyst EPS estimate for CHDN
- Consensus EPS estimate$1.18 next reporting period, as of 2026-08-19
Change over time is not available yet: it needs two readings of the same reporting period at least 30 days apart, and we have been recording these estimates since 2026-08-04. An estimate for a DIFFERENT quarter is not a revision, so a reading from before the last report is never compared with one after it.
The consensus estimate for the next reporting period, and how it has moved between readings of that SAME period. A change is measured only between readings estimating one period — when a company reports, the consensus moves to the next quarter and the two numbers are not comparable. Informational only, not a forecast and not advice.
Key risks (from latest filing)
["Regulatory changes affecting wagering or gaming operations.","Dependency on historical racing and live horse racing event success.","Significant debt levels impacting financial flexibility."]
What changed in the latest 10-Q
AI-assisted comparison of CHDN's 10-Q filed 2026-04-22 against the prior one filed 2025-10-22.
Management's Discussion & Analysis (MD&A)
- Added:
- Added 'laws' after 'applicable tax' in risk factor (2026-04-22 filing)
- Added 'or, or loss or misuse of our confidential information as a result of a breach including customers' personal information, or IT system operational disruptions,' to cybersecurity risk factor (2026-04-22 filing)
- Added 'errors or defects' to technology services risk factor (2026-04-22 filing)
- Removed:
- Removed 'inability to successfully focus on market access and retail operations for our sports betting business and effectively compete;' risk factor bullet point (2025-10-22 filing)
- Removed '(due to inflation or otherwise)' parenthetical from interest rate risk factor (2025-10-22 filing)
- Reworded:
- Changed 'online security risk' to 'cybersecurity risk' in technology risk factor (2026-04-22 filing)
- Changed 'or loss or misuse of our stored information' to 'or loss or misuse of our confidential information' (2026-04-22 filing)
- Changed 'could lead to' to 'could lead to' in cybersecurity risk (wording clarified/expanded) (2026-04-22 filing)
- Changed 'reliance on our technology services and catastrophic events and system failures disrupting' to 'reliance on our technology services and catastrophic events, system failures, errors or defects disrupting' (2026-04-22 filing)
- Changed Form 10-K reference year from 'December 31, 2024' to 'December 31, 2025' in introductory paragraph (2026-04-22 filing)
- Changed 'intend,' formatting with misplaced quote mark in older filing to 'intend,' with proper punctuation in newer filing (2026-04-22 filing)
- Notes:
- The text provided is truncated at the end of both filings, cutting off mid-sentence in the 'Key Indicators' section, so comparison only extends to that point
- One change involves removal of a complete risk factor bullet point rather than modification of existing text
Risk Factors
The two filings could not be meaningfully compared for this section.
AI-assisted comparison of two SEC filing sections. It describes wording and theme changes only, makes no materiality, legal, or investment judgement, and is not financial advice. Informational only — not financial advice.
Insider activity (SEC Form 4)
No open-market insider purchases or sales are on record for CHDN — recent Form 4 activity was compensation-related (awards, option exercises, or tax withholding), not open-market buying or selling.
View full insider trading history → View SEC Form 3/4/5 filingsOnly open-market purchases (SEC code P) and sales (code S) are counted here. Option exercises, vesting/awards, gifts, and shares withheld for taxes are excluded — they are compensation or mechanical, not open-market conviction. Sales may be planned and non-discretionary (e.g. a Rule 10b5-1 plan) and are not necessarily bearish; open-market buying is not a recommendation to buy. Informational only — not financial advice.
Congressional trading disclosures
U.S. House members publicly disclose their own, their spouse's, and dependent children's stock transactions under the STOCK Act. We hold 3 matched disclosures for CHDN from U.S. House Clerk Periodic Transaction Report filings.
Congressional trading disclosures →Institutional ownership (13F)
5 institutional 13F filers reported holding CHDN as of 2026-03-31 (quarter-end position, filed within 45 days).
- Distinct 13F filers 5
- Reported shares held 11,484,502
- Reported value $1,031,652,878
reported quarterly holdings change (2025-12-31 → 2026-03-31): 1 new, 3 increased, 1 decreased, 0 exited. Change counts cover only managers that filed 13F reports in BOTH quarters, derived between two quarter-end snapshots — not same-day trades; a single manager is never said to have "bought" or "sold".
Institutional holdings are quarter-end long positions reported on SEC Form 13F-HR, filed up to 45 days after the quarter ends — they are delayed, are not real-time trades, exclude short positions and most non-US securities, and are not investment advice. Any increase/decrease is a reported change between two quarterly snapshots, not a same-day purchase or sale. These are quarter-end snapshots from the 13F filings on SEC EDGAR, filed within 45 days — not real-time, and any change is a difference between two quarterly reports, not a same-day trade. Informational only — not financial advice.
Short interest (FINRA)
CHDN had 3,673,955 shares of reported short interest as of the 2026-07-31 FINRA settlement date (delayed, bi-monthly; not real-time).
CHDN had 5.27% of its shares outstanding sold short as of the 2026-07-31 FINRA settlement date (percent of FLOAT would be higher — float is not disclosed in the source). FINRA reported 3.4 days to cover at the same settlement.
- Reported short interest (shares) 3,673,955
- Short interest (% of shares outstanding) 5.27%
- Prior settlement (shares) 3,905,391
- Reported change -5.93%
- Days to cover (reported) 3.4
Reported to FINRA as of the 2026-07-31 settlement date. Short interest is reported to FINRA and published on a delayed, bi-monthly schedule (as of a settlement date, disseminated roughly eight business days later) — it is NOT real-time, does not cover every venue or all US trading, and is not a short-squeeze prediction or investment advice. Days-to-cover is the value FINRA reports; percent of float is not shown because the source file carries no share-count denominator — where a percent appears it is of shares OUTSTANDING, the larger base, and is therefore a floor on percent of float. Informational only — not financial advice.
Competitors & peers
- Penn Entertainment (PENN)
- Caesars Entertainment (CZR)
- MGM Resorts International (MGM)
- DraftKings (DKNG)
- Flutter Entertainment (FLUT)
AI-enriched competitor set. Linked names are companies covered by stocks-llm; other named peers are shown for reference only.
Compare CHDN vs…
Frequently asked questions
What does Churchill Downs Incorporated (CHDN) do?
Churchill Downs Incorporated is a racing, gaming, and online wagering company. Its operations include live and historical horse racing, casino gaming, and various wagering services and technology platforms.
What sector is Churchill Downs Incorporated (CHDN) in?
Churchill Downs Incorporated (CHDN) is classified in the Consumer Discretionary sector. Its industry is Casinos & Gaming. It trades on NASDAQ.
Does CHDN pay a dividend?
Yes — Churchill Downs Incorporated (CHDN) pays a dividend, with an indicated yield of about 0.32% and at least 4 years of non-decreasing per-share dividends (SEC EDGAR XBRL) — we do not hold the year before it, so the real streak may be longer (market data, as of 2026-08-24). Informational only — not financial advice.
Who are Churchill Downs Incorporated's (CHDN) competitors?
Notable peers of Churchill Downs Incorporated (CHDN) include Penn Entertainment, Caesars Entertainment, MGM Resorts International, DraftKings and Flutter Entertainment. This peer set is informational only — not financial advice.
Has there been recent Congressional stock trading in CHDN?
Yes — we hold 3 matched STOCK Act disclosures for CHDN from U.S. House Clerk Periodic Transaction Report filings. These are legally-required disclosures (often filed 30–45 days after the trade), may belong to a U.S. House member, their spouse, or a dependent child, and are not an indicator of company performance or investment advice.
Is Churchill Downs Incorporated (CHDN) overbought or oversold right now?
Churchill Downs Incorporated (CHDN) is currently neither overbought nor oversold — its 14-day RSI (a 0–100 momentum gauge) is 65, in the neutral middle (as of 2026-08-21). RSI describes recent price momentum, not a forecast — informational only, not financial advice.
Where does stocks-llm's data on CHDN come from?
Fundamentals and prices come from market data, as of 2026-08-24; company filings and profile facts come from SEC EDGAR. All figures are delayed daily-close data shown with their as-of date — informational only, not financial advice.
Fundamentals: market data, as of 2026-08-24. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-08-21.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & market data, shown with their as-of date.