CHDNChurchill Downs Incorporated
Is it safe?
Solid, nothing alarming: heavy debt (BB).
Mixed, watch the balance sheet Altman Z-score, a bankruptcy-risk model from five balance-sheet ratios.
Moderately leveraged. A rule of thumb on leverage, not a credit rating.
Moderate price swings, typical volatility. Worst drawdown -63% · now 32% below its 52-week high.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. Altman sits structurally low for utilities and pipelines; Beneish runs high for fast growers, since sales growth alone lifts it; banks and REITs are excluded.
Can CHDN take a bad year?
Churchill Downs Incorporated carries $4.58B of net debt at 4.80× EBITDA: a heavy load to carry through a bad year.
Net debt · as at Q2 2026 · over four years of earnings before interest, tax and depreciation, heavy
- Net debt / EBITDA
- 4.80×
Net debt / EBITDA · 5.16× a year ago · the load is coming down
- Altman Z-score
- 1.38
Altman Z-score · distress zone, below 1.8
- Interest cover
- 2.46×
Interest cover · operating profit covers the interest bill, with room to spare
Details›
- Total debtQ2 2026
- $4.77B
- Cash and short-term investments
- $196M
- Net debt
- $4.58B
- EBITDA, trailing twelve months
- $953M
- Operating profit, trailing twelve months
- $722M
- Debt / equity
- 3.56×
- Total debt / EBITDA
- 5.01×
- Annualised volatilitytwo years of daily moves
- 33%
- Worst drawdown on file
- −63%
- Below its 52-week high
- 32%
Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.