Churchill Downs

Entertainment & Publishing casinos gambling games

Churchill Downs Incorporated is a racing, gaming, and online entertainment company. The Company manages its operations through six operating segments: Racing, Casinos, TwinSpires, Big Fish Games, Other Investments and Corporate. CDI's Racing segment includes four racetracks: Churchill Downs Racetrack, Arlington International Race Course, Fair Grounds Race Course and Calder Race Course. The Company is also a provider of brick-and-mortar real money casinos (Oxford Casino, Riverwalk Casino, Harlow’s Casino, Calder Casino and Fair Grounds Slots and Video Services, LLC) and two hotels (Riverwalk and Harlow’s).

Type

Public

Louisville, US

Founded

1875

Size (employees)

4,000 (est)-11%

Website

churchilldownsincorporated.com

Churchill Downs was founded in 1875 and is headquartered in Louisville, US

Churchill Downs Office Locations

Churchill Downs has an office in Louisville

Louisville, US (HQ)

600 N Hurstbourne Pkwy Ste 400

Churchill Downs Data and Metrics

Churchill Downs Financial Metrics

Churchill Downs's revenue was reported to be $279.5 m in Q1, 2017

Summary

USD

Churchill Downs's current market capitalization is $3.1 b.

Income Statement

Annual

USD	FY, 2013	FY, 2014	FY, 2015	FY, 2016
Revenue	779.3 m	812.9 m	1.2 b	1.3 b
Revenue growth, %		4%	49%	8%
R&D expense				39 m
Operating expense total				1.1 b
EBIT	94.2 m	84.1 m	112.4 m	194.2 m
EBIT margin, %	12%	10%	9%	15%
Interest expense	6.2 m	20.8 m	28.6 m	43.7 m
Interest income	112 k	20 k	42 k
Income tax expense	(30.5 m)	(30.2 m)	(46.9 m)	(60 m)
Net Income	54.9 m	46.4 m	65.2 m	108.1 m

Quarterly

USD	Q2, 2014	Q3, 2014	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017
Revenue	303.7 m	173.7 m	250.9 m	409.2 m	279.8 m	288.4 m	438.5 m	303.4 m	279.5 m
R&D expense			10.2 m	9.8 m	10 m	10.8 m	9.7 m	8.8 m	10.3 m
General and administrative expense	18.7 m	20.5 m	21.6 m	22 m	24.6 m
Operating expense total	18.7 m	20.5 m	31.8 m	31.9 m	34.6 m	10.8 m	9.7 m	8.8 m	10.3 m
EBIT	94.2 m	8.4 m	(4.1 m)	105.9 m	9.5 m	6.3 m	117.4 m	26.8 m	17.5 m
EBIT margin, %	31%	5%	(2%)	26%	3%	2%	27%	9%	6%
Interest expense	(5 m)	(5.2 m)	(7.5 m)	(7.1 m)	(6.7 m)	(10.6 m)	(11.1 m)	(11.1 m)	(11.8 m)
Interest income	5 k	6 k	218 k	6 k	8 k
Pre tax profit							111.5 m	20.4 m
Income tax expense	(34.8 m)	(846 k)	1.3 m	(46.7 m)	(750 k)	3.8 m	(41.7 m)	(11.7 m)	(4.5 m)
Net Income			(1.6 m)	55 m	4.2 m	2.8 m	69.8 m	8.7 m	7.3 m

Balance Sheet

Annual

USD	FY, 2013	FY, 2014	FY, 2015	FY, 2016
Cash	44.7 m	67.9 m	74.5 m	48.7 m
Current Assets	160.7 m	241.7 m	222.8 m	246 m
PP&E	585.5 m	595.3 m	573.2 m	574.4 m
Goodwill	300.6 m	839.5 m	841.7 m	832.2 m
Total Assets	1.4 b	2.4 b	2.3 b	2.3 b
Accounts Payable	43.1 m	45.6 m	39.1 m	53.2 m
Dividends Payable	15.2 m	17.4 m	19.1 m	21.8 m
Total Debt		600 m	765.5 m	1.2 b
Current Liabilities	213.2 m	334 m	640.1 m	468.1 m
Total Liabilities				1.6 b
Retained Earnings	408.8 m	437.8 m	483.8 m	569.7 m
Total Equity			617.2 m	685 m
Debt to Equity Ratio			1.2 x	1.7 x
Debt to Assets Ratio		0.3 x	0.3 x	0.5 x
Financial Leverage			3.7 x	3.3 x

Quarterly

USD	Q2, 2014	Q3, 2014	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017
Cash	46.7 m	42 m	49.5 m	59.2 m	51.1 m	51.1 m	55.1 m	56.9 m	54.9 m
Current Assets	153.9 m	126.3 m	202.7 m	215.1 m	209.1 m	198 m	209.6 m	201.2 m	213.3 m
PP&E	595.9 m	591.7 m	590.2 m	589.6 m	571.5 m	573.2 m	577.9 m	573.3 m	590.7 m
Goodwill	300.6 m	300.6 m	840.9 m	840.9 m	841.4 m	841.7 m	841.7 m	841.7 m	832.2 m
Total Assets	1.4 b	1.3 b	2.3 b	2.3 b	2.3 b	2.2 b	2.2 b	2.2 b	2.3 b
Accounts Payable	70.6 m	49 m	52 m	66.3 m	52.2 m	57.5 m	74.4 m	53.9 m	56.1 m
Current Liabilities	220.6 m	167.3 m	341.6 m	634.8 m	613.6 m	420.4 m	431.6 m	391 m	421.9 m
Retained Earnings	465.5 m	469 m	436.3 m	491.3 m	495.5 m	486.6 m	556.4 m	565.1 m	577 m
Total Equity	709.1 m	715 m	698.7 m	756.4 m	766.2 m	619.4 m	679.8 m	695.4 m	688.9 m
Financial Leverage	1.9 x	1.9 x	3.3 x	3 x	3 x	3.6 x	3.3 x	3.2 x	3.3 x

Cash Flow

Annual

USD	FY, 2013	FY, 2014	FY, 2015	FY, 2016
Net Income	3.1 k	46.4 m	65.2 m	108.1 m
Depreciation and Amortization	61.8 m	68.3 m	109.7 m	108.6 m
Accounts Receivable	(495 k)	(1.6 m)
Accounts Payable	(5.9 m)	(8.4 m)
Cash From Operating Activities	144.9 m	141.6 m	264.5 m	226.8 m
Purchases of PP&E	(48.8 m)	(54.5 m)	(43.5 m)
Cash From Investing Activities	(281.9 m)	(440.3 m)	(65.5 m)	(50.7 m)
Cash From Financing Activities	144.5 m	322 m	(190.6 m)	(201.9 m)
Interest Paid	4 m	17.5 m	63.9 m	40 m
Income Taxes Paid	(11 m)	206 k	28.5 m	(6.6 m)

Quarterly

USD	Q2, 2014	Q3, 2014	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017
Net Income			(1.6 m)	55 m	4.2 m	2.8 m	69.8 m	8.7 m	7.3 m
Accounts Payable	70.6 m	49 m	52 m	66.3 m	52.2 m	57.5 m	74.4 m	53.9 m	56.1 m

Ratios

USD	Y, 2017
Revenue/Employee	69.9 k
Financial Leverage	3.3 x

Churchill Downs Market Value History

Market Position of Churchill Downs

Competitors

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Churchill Downs

Churchill Downs Office Locations

Churchill Downs Data and Metrics

Churchill Downs Financial Metrics

Summary

Revenue (Q1, 2017)

Net income (Q1, 2017)

EBIT (Q1, 2017)

Market capitalization (25-Jul-2017)

Cash (31-Mar-2017)

Income Statement

Revenue

Revenue growth, %

R&D expense

Operating expense total

EBIT

EBIT margin, %

Interest expense

Interest income

Income tax expense

Net Income

Revenue

R&D expense

General and administrative expense

Operating expense total

EBIT

EBIT margin, %

Interest expense

Interest income

Pre tax profit

Income tax expense

Net Income

Balance Sheet

Cash

Current Assets

PP&E

Goodwill

Total Assets

Accounts Payable

Dividends Payable

Total Debt

Current Liabilities

Total Liabilities

Retained Earnings

Total Equity

Debt to Equity Ratio

Debt to Assets Ratio

Financial Leverage

Cash

Current Assets

PP&E

Goodwill

Total Assets

Accounts Payable

Current Liabilities

Retained Earnings

Total Equity

Financial Leverage

Cash Flow

Net Income

Depreciation and Amortization

Accounts Receivable

Accounts Payable

Cash From Operating Activities

Purchases of PP&E

Cash From Investing Activities

Cash From Financing Activities

Interest Paid

Income Taxes Paid

Net Income

Accounts Payable

Ratios

Revenue/Employee

Financial Leverage

Churchill Downs Market Value History

Market Position of Churchill Downs

Competitors

Churchill Downs Online and Social Media Presence

Churchill Downs News and Updates

Churchill Downs Company Life and Culture