CHDN NASDAQ
Credit Risk of going bust: higher than 54% of companies Debt: 45.7% of company value Bonds: $507.5M held by 283 funds, 146 bp over Treasuries → details ▾
If the stock fell to about $4.46 (down 95%), Churchill Downs Incorporated would be worth roughly what it owes.
Total debt $4.78B against a stock market value of $5.68B.
Distance to default 4.79 (Merton model): prices to 2026-10-27, balance sheet 2026-06-30, debt counted $2.72B (short-term plus half of long-term), stock volatility 34.4%; Altman Z'' 0.83. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.
Louisville, KY 40222
US
Churchill Downs Incorporated (CDI) is a leading U.S. entertainment enterprise focused on horse racing, online wagering, and general gaming activities. Its extensive operations are categorized into three main divisions: Live and Historical Racing, TwinSpires, and Gaming. As of December 31, 2021, CDI's portfolio included three pari-mutuel gaming venues in Kentucky, collectively featuring approximately 3,050 historical racing machines. The company also operates TwinSpires, a comprehensive digital platform offering betting on horse races, sports, and iGaming. Furthermore, CDI manages nine brick-and-mortar sportsbooks and runs casino gaming across eight states, housing around 11,000 slot machines and video lottery terminals, in addition to 200 table games. Beyond these core ventures, Churchill Downs Incorporated delivers streaming video of live horse races and replays, along with a wide array of racing and handicapping information. It also oversees the Bloodstock Research Information Services (BRIS) platform, a valuable source for horse racing statistical data. The company is additionally engaged in designing and deploying pari-mutuel wagering systems for racetracks, off-track betting facilities, and various other wagering enterprises. Established in 1875, Churchill Downs Incorporated is headquartered in Louisville, Kentucky.
Recent Insider Trades
| Name | Type | Shares | Price | Date |
|---|---|---|---|---|
| GRISSOM DOUGLAS C | A-Award | 454 | — | 2026-09-30 |
| GRISSOM DOUGLAS C | A-Award | 383 | — | 2026-06-30 |
| Rankin Richard Alex | A-Award | 2,257 | — | 2026-04-21 |
| HARRINGTON DANIEL P | A-Award | 0 | — | 2026-04-21 |
| HARRINGTON DANIEL P | A-Award | 2,257 | — | 2026-04-21 |