Churchill Downs Incorporated (CHDN) - Stock Analysis
Last updated: Sep 6, 2026
Research Idea
Research content for general circulation. Not individualized advice. Methodology & Disclosures
Churchill Downs has strong Q3 revenue and EBITDA growth with record operational metrics and supportive analyst sentiment, showing ~7% price appreciation and positive technical momentum for near-term gains.
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AI Analyst Overview
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Valuation Metrics
Fundamental Analysis
Key Financial Insights: ⢠Strong Margins ⢠Positive Cash Flow ⢠Tight Liquidity CHDN delivers strong profitability and cash flow at a more moderate valuation, but high leverage and tight liquidity remain material risks.
Price Behavior
Key Price Behavior Insights: ⢠Support under pressure ⢠Failed $90 hold ⢠Weakening momentum Support Level: $86.40â$86.70 Resistance Level: $89.90â$90.70 CHDN weakened over the last month, with support at $86.40â$86.70 critical and a recovery above $90.70 needed to improve momentum.
Sentiment & News
Key News Insights: ⢠Record Q2 results ⢠BlackRock stake ⢠Gaming expansion Churchill Downs posted record Q2 growth and drew major institutional buying, reinforcing a positive outlook for its diversified gaming expansion.
AI Summary
CHDN offers a high-margin, Derby-led gaming platform with upside from recurring gaming and wagering expansion, but investors should demand evidence that new projects and the United Tote investment can sustain free cash flow while reducing its substantial leverage.
Description
Churchill Downs Incorporated is a US-based racing, wagering and gaming company organized into Live and Historical Racing, TwinSpires, and Gaming segments. The company operates pari-mutuel venues in Kentucky, an online wagering platform and retail sportsbooks, and casino operations across multiple states that include several thousand slot machines and hundreds of table games. It also provides race streaming and data services and builds pari-mutuel wagering systems for racetracks and off-track facilities.
Idea History
| Date | Close | Ticker | Company | Summary | Status | P/L |
|---|---|---|---|---|---|---|
| Dec 22 | Dec 29 | CHDN | Churchill Downs Incorporated | Churchill Downs has strong Q3 revenue and EBITDA growth with record operational metrics and supportive analyst sentiment, showing ~7% price appreciation and positive technical momentum for near-term gains. | Closed | -0.1% |