Churchill Downs Ratios and Metrics

Market cap in millions EUR. Fiscal year is January - December.

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 18, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Market Cap	5,308	6,850	8,490	8,696	6,841	7,939
Market Cap Growth	-32.56%	-19.32%	-2.36%	27.12%	-13.84%	19.28%
Enterprise Value	9,680	11,100	12,546	12,695	10,672	9,384
PE Ratio	16.27	21.51	23.51	24.58	18.51	37.88
Forward PE	12.97	17.86	19.59	23.51	16.92	26.39
PEG Ratio	-	2.15	2.15	2.15	2.15	2.15
PS Ratio	2.13	2.71	3.59	4.08	4.37	5.75
PB Ratio	5.90	7.84	9.06	11.25	14.34	29.92
P/TBV Ratio	5.30	8.09	9.19	11.49	14.76	30.78
P/FCF Ratio	12.59	16.00	43.68	-141.18	90.58	24.96
P/OCF Ratio	8.10	10.29	12.72	16.61	15.48	19.97
EV/Sales Ratio	3.82	4.39	5.30	5.96	6.82	6.79
EV/EBITDA Ratio	9.90	13.90	15.87	19.85	27.99	27.61
EV/EBIT Ratio	12.75	18.77	20.46	26.02	38.34	38.14
EV/FCF Ratio	22.97	25.93	64.55	-206.12	141.31	29.50
Debt / Equity Ratio	4.80	4.80	4.39	5.34	8.27	6.39
Debt / EBITDA Ratio	5.56	5.56	5.37	6.54	10.45	5.01
Debt / FCF Ratio	10.37	10.37	21.84	-67.93	52.76	5.35
Net Debt / Equity Ratio	4.88	4.88	4.37	5.25	8.12	5.47
Net Debt / EBITDA Ratio	5.34	5.34	5.18	6.35	10.15	4.27
Net Debt / FCF Ratio	9.96	9.96	21.06	-65.90	51.27	4.56
Asset Turnover	0.40	0.40	0.38	0.37	0.39	0.56
Quick Ratio	0.42	0.42	0.40	0.35	0.36	1.01
Current Ratio	0.60	0.60	0.57	0.53	0.55	1.27
Return on Equity (ROE)	66.65%	35.71%	42.98%	57.75%	102.39%	73.93%
Return on Assets (ROA)	11.82%	11.82%	12.47%	10.77%	8.95%	12.80%
Return on Invested Capital (ROIC)	13.20%	13.20%	13.92%	12.02%	10.35%	15.24%
Return on Capital Employed (ROCE)	10.28%	10.28%	11.12%	9.57%	7.88%	11.73%
Earnings Yield	6.15%	4.65%	4.25%	4.07%	5.40%	2.64%
FCF Yield	7.94%	6.25%	2.29%	-0.71%	1.10%	4.01%
Dividend Yield	0.51%	0.38%	0.30%	0.27%	0.32%	0.27%
Payout Ratio	8.04%	7.99%	6.80%	6.49%	5.92%	9.96%
Buyback Yield / Dilution	-5.40%	-5.40%	-1.90%	-0.56%	-2.21%	-3.24%
Total Shareholder Return	-4.89%	-5.02%	-1.60%	-0.29%	-1.89%	-2.97%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.