The company is a gaming entertainment, online wagering, and racing company operating through three business segments: Live and Historical Racing, Wagering Services, and Gaming. Churchill Downs has demonstrated robust financial performance, with a revenue growth of 21.6% over the past three years.
Cyborg Score Rationale
Churchill Downs has a market capitalization of $6.57 billion, positioned within the Consumer Cyclical sector in the Travel & Leisure industry. Analyst sentiment remains cautiously optimistic, with a target price of $138.22 and a recommendation score of 1.8, indicating a "Buy" consensus. Churchill Downs' moat is moderate overall, but the Derby assets alone represent a wide, culturally entrenched monopoly with exceptional pricing power.
Top Insights
In 2024, Churchill Downs's revenue was $2.73 billion, an increase of 11.07% compared to the previous year's $2.46 billion.
2026 Derby Week adds Sunday racing for first time since 2010 and shifts the $1.5M Kentucky Oaks to NBC primetime ahead of the $5M Derby on May 2.
The P/E ratio of 17.13 is close to its three-year low, and P/S ratio of 2.38 and P/B ratio of 6.35 are near historical lows, suggesting attractive entry points for investors.
Sector-specific risks include regulatory changes in the gaming industry and economic downturns affecting consumer spending.
Named Competitors
Penn Entertainment — Regional casino and gaming operator
DraftKings — Online sports betting and iGaming platform
FanDuel — Online sports betting and iGaming platform
Recent Developments
(February 2026) Announced exciting changes to 152nd Spring Meet and Derby Week racing, including return of Sunday racing for first time since 2010
(July 2025) Board of Directors approved a $500 million share repurchase program
(Q3 2025) Net revenue of $683.00 million exceeded analyst expectations of $671.43 million
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