Churchill Downs Incorporated (CHDN) - Net Assets

Latest as of December 2025: $1.06 Billion USD

Based on the latest financial reports, Churchill Downs Incorporated (CHDN) has net assets worth $1.06 Billion USD as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($7.48 Billion) and total liabilities ($6.43 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check tangible net worth ratio of Churchill Downs Incorporated to evaluate the tangible quality of the company's equity base.

Key Net Assets Metrics

Metric Value
Current Net Assets $1.06 Billion
% of Total Assets 14.11%
Annual Growth Rate 11.04%
5-Year Change 244.13%
10-Year Change 54.13%
Growth Volatility 27.86

Churchill Downs Incorporated - Net Assets Trend (1993–2025)

This chart illustrates how Churchill Downs Incorporated's net assets have evolved over time, based on quarterly financial data. See Churchill Downs Incorporated defensive liquidity buffer to measure how many days the company can operate on defensive assets alone.

Annual Net Assets for Churchill Downs Incorporated (1993–2025)

The table below shows the annual net assets of Churchill Downs Incorporated from 1993 to 2025. For live valuation and market cap data, see CHDN company net worth.

Year Net Assets Change
2025-12-31 $1.06 Billion -4.31%
2024-12-31 $1.10 Billion +23.47%
2023-12-31 $893.60 Million +62.03%
2022-12-31 $551.50 Million +79.76%
2021-12-31 $306.80 Million -16.43%
2020-12-31 $367.10 Million -28.16%
2019-12-31 $511.00 Million +7.97%
2018-12-31 $473.30 Million -26.08%
2017-12-31 $640.30 Million -6.53%
2016-12-31 $685.00 Million +10.99%
2015-12-31 $617.20 Million -11.83%
2014-12-31 $700.00 Million -0.68%
2013-12-31 $704.79 Million +9.39%
2012-12-31 $644.29 Million +10.32%
2011-12-31 $584.03 Million +15.37%
2010-12-31 $506.21 Million +24.37%
2009-12-31 $407.02 Million +3.33%
2008-12-31 $393.89 Million +7.16%
2007-12-31 $367.56 Million +4.99%
2006-12-31 $350.08 Million +10.70%
2005-12-31 $316.23 Million +32.63%
2004-12-31 $238.43 Million -6.49%
2003-12-31 $254.98 Million +8.50%
2002-12-31 $235.00 Million +8.18%
2001-12-31 $217.24 Million +7.28%
2000-12-31 $202.49 Million +46.62%
1999-12-31 $138.10 Million +111.81%
1998-12-31 $65.20 Million +22.10%
1997-12-31 $53.40 Million +11.72%
1996-12-31 $47.80 Million +2.36%
1995-12-31 $46.70 Million +10.93%
1994-12-31 $42.10 Million +13.78%
1993-12-31 $37.00 Million --

Equity Component Analysis

This analysis shows how different components contribute to Churchill Downs Incorporated's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

  • Retained earnings have grown by 2796.0% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2025)

Component Amount Percentage
Retained Earnings $1.01 Billion 100.10%
Other Comprehensive Income $-1.00 Million -0.10%
Total Equity $1.01 Billion 100.00%

Churchill Downs Incorporated Competitors by Market Cap

The table below lists competitors of Churchill Downs Incorporated ranked by their market capitalization.

Company Market Cap
Parsons Corp
NYSE:PSN
 $5.86 Billion
Fortnox AB
ST:FNOX
 $5.87 Billion
BILIBILI INC. DL -0001
F:71BB
 $5.87 Billion
Northam Platinum Holdings Ltd
JSE:NPH
 $5.87 Billion
Compagnie du Cambodge
PA:CBDG
 $5.86 Billion
Bilibili Inc
F:71BA
 $5.85 Billion
Wallenius Wilhelmsen Logistics ASA
OL:WAWI
 $5.85 Billion
QMMM Holdings Limited Ordinary Shares
NASDAQ:QMMM
 $5.84 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Churchill Downs Incorporated's equity between the two most recent reporting periods.

Equity Growth Insights

  • From 2024 to 2025, total equity changed from 1,083,600,000 to 1,009,700,000, a change of -73,900,000 (-6.8%).
  • Net income of 379,700,000 contributed positively to equity growth.
  • Dividend payments of 30,800,000 reduced retained earnings.
  • Share repurchases of 427,800,000 reduced equity.

Equity Change Factors (2024 to 2025)

Factor Impact Contribution
Net Income $379.70 Million +37.61%
Dividends Paid $30.80 Million -3.05%
Share Repurchases $427.80 Million -42.37%
Other Changes $5.00 Million +0.5%
Total Change $- -6.82%

Book Value vs Market Value Analysis

This analysis compares Churchill Downs Incorporated's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

  • Current price-to-book ratio: 6.21x
  • The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
  • The price-to-book ratio has decreased from 107.65x to 6.21x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date Book Value per Share Market Price P/B Ratio
1993-12-31 $0.82 $87.76 x
1994-12-31 $0.93 $87.76 x
1995-12-31 $1.03 $87.76 x
1996-12-31 $1.07 $87.76 x
1997-12-31 $1.22 $87.76 x
1998-12-31 $1.44 $87.76 x
1999-12-31 $2.64 $87.76 x
2000-12-31 $3.08 $87.76 x
2001-12-31 $2.98 $87.76 x
2002-12-31 $2.50 $87.76 x
2003-12-31 $3.10 $87.76 x
2004-12-31 $2.99 $87.76 x
2005-12-31 $3.90 $87.76 x
2006-12-31 $4.27 $87.76 x
2007-12-31 $4.38 $87.76 x
2008-12-31 $4.68 $87.76 x
2009-12-31 $4.83 $87.76 x
2010-12-31 $5.39 $87.76 x
2011-12-31 $5.68 $87.76 x
2012-12-31 $6.14 $87.76 x
2013-12-31 $6.55 $87.76 x
2014-12-31 $6.63 $87.76 x
2015-12-31 $5.85 $87.76 x
2016-12-31 $6.80 $87.76 x
2017-12-31 $6.67 $87.76 x
2018-12-31 $5.69 $87.76 x
2019-12-31 $6.26 $87.76 x
2020-12-31 $4.64 $87.76 x
2021-12-31 $3.91 $87.76 x
2022-12-31 $7.16 $87.76 x
2023-12-31 $11.74 $87.76 x
2024-12-31 $14.53 $87.76 x
2025-12-31 $14.14 $87.76 x

Capital Efficiency Dashboard

This dashboard shows how efficiently Churchill Downs Incorporated utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

  • Current Return on Equity (ROE): 37.61%
  • The company demonstrates strong efficiency in generating profits from shareholder equity.
  • DuPont Analysis Breakdown:
  • • Net Profit Margin: 12.98%
  • • Asset Turnover: 0.39x
  • • Equity Multiplier: 7.41x
  • Recent ROE (37.61%) is above the historical average (19.57%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year Return on Equity Net Profit Margin Asset Turnover Equity Multiplier Economic Value Added
1993 15.95% 10.67% 0.97x 1.54x $2.20 Million
1994 14.76% 9.41% 0.94x 1.67x $2.00 Million
1995 13.28% 6.71% 1.19x 1.66x $1.53 Million
1996 16.95% 7.51% 1.34x 1.69x $3.32 Million
1997 17.04% 7.65% 1.39x 1.61x $3.76 Million
1998 16.10% 7.13% 1.28x 1.76x $3.98 Million
1999 10.86% 5.80% 0.65x 2.88x $1.19 Million
2000 9.46% 5.29% 0.77x 2.32x $-1.08 Million
2001 10.16% 5.17% 0.91x 2.17x $352.50K
2002 8.92% 4.77% 0.94x 2.00x $-2.53 Million
2003 9.41% 5.66% 0.84x 1.98x $-1.50 Million
2004 3.81% 1.96% 0.72x 2.69x $-14.75 Million
2005 24.95% 19.30% 0.79x 1.63x $47.28 Million
2006 8.52% 7.91% 0.69x 1.56x $-5.20 Million
2007 4.28% 3.83% 0.66x 1.70x $-21.02 Million
2008 7.25% 6.63% 0.68x 1.62x $-10.84 Million
2009 4.13% 3.83% 0.61x 1.78x $-23.87 Million
2010 3.23% 2.79% 0.58x 2.01x $-34.27 Million
2011 11.02% 9.24% 0.74x 1.62x $5.95 Million
2012 9.04% 7.96% 0.66x 1.73x $-6.15 Million
2013 7.79% 7.04% 0.58x 1.92x $-15.58 Million
2014 6.62% 5.70% 0.34x 3.37x $-23.64 Million
2015 10.56% 5.38% 0.53x 3.69x $3.48 Million
2016 15.78% 8.26% 0.58x 3.29x $39.60 Million
2017 21.94% 15.92% 0.37x 3.68x $76.47 Million
2018 74.54% 34.97% 0.58x 3.65x $305.47 Million
2019 27.05% 10.34% 0.52x 5.02x $86.67 Million
2020 -22.31% -7.77% 0.39x 7.32x $-118.61 Million
2021 81.19% 15.60% 0.54x 9.72x $218.42 Million
2022 79.67% 24.28% 0.29x 11.25x $384.25 Million
2023 46.70% 16.95% 0.35x 7.78x $327.94 Million
2024 39.39% 15.61% 0.38x 6.71x $318.44 Million
2025 37.61% 12.98% 0.39x 7.41x $278.73 Million

Industry Comparison

This section compares Churchill Downs Incorporated's net assets metrics with peer companies in the Gambling industry.

Industry Context

  • Industry: Gambling
  • Average net assets among peers: $688,999,594
  • Average return on equity (ROE) among peers: -6.33%

Peer Company Comparison

Company Net Assets Return on Equity Debt-to-Equity Market Cap
Churchill Downs Incorporated (CHDN) $1.06 Billion 15.95% 6.09x $5.86 Billion
Accel Entertainment Inc (ACEL) $273.76 Million 18.80% 3.12x $1.03 Billion
PlayAGS Inc (AGS) $67.67 Million 0.63% 9.05x $518.40 Million
Brightstar Lottery PLC (BRSL) $1.56 Billion -57.51% 7.32x $2.05 Billion
Codere Online US Corp (CDRO) $-31.33 Million 0.00% 0.00x $440.60 Million
DraftKings Inc (DKNG) $1.01 Billion -50.20% 3.24x $12.65 Billion
Everi Holdings Inc (EVRI) $-7.90 Million 0.00% 0.00x $1.24 Billion
Gambling.com Group Ltd (GAMB) $34.21 Million 44.29% 0.33x $82.12 Million
Gan Ltd (GAN) $155.56 Million -13.00% 0.11x $91.53 Million
International Game Technology PLC (IGT) $3.14 Billion 0.02% 1.95x $3.31 Billion

About Churchill Downs Incorporated

NASDAQ:CHDN USA Gambling
Market Cap
$6.12 Billion
Market Cap Rank
#3269 Global
#1139 in USA
Share Price
$87.76
Change (1 day)
-2.34%
52-Week Range
$83.07 - $117.59
All Time High
$148.59
Categories
Companies in USA Gambling
About

Churchill Downs Incorporated operates live and historical racing entertainment venues, online wagering businesses, and regional casino gaming properties in the United States. It operates through three segments: Live and Historical Racing, Wagering Services and Solutions, and Gaming. The Live and Historical Racing segment engages in live and historical pari-mutuel racing related activities at Chur… Read more