GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Travel & Leisure » Churchill Downs Inc (NAS:CHDN) » Definitions » EBIT

Churchill Downs (Churchill Downs) EBIT : $729 Mil (TTM As of Mar. 2024)


View and export this data going back to 1993. Start your Free Trial

What is Churchill Downs EBIT?

Churchill Downs's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2024 was $172 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2024 was $729 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Churchill Downs's annualized ROC % for the quarter that ended in Mar. 2024 was 5.91%. Churchill Downs's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 was 26.34%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Churchill Downs's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2024 was 5.10%.


Churchill Downs EBIT Historical Data

The historical data trend for Churchill Downs's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Churchill Downs EBIT Chart

Churchill Downs Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 267.30 88.00 428.30 756.10 830.20

Churchill Downs Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 273.60 264.40 149.70 142.50 172.20

Competitive Comparison of Churchill Downs's EBIT

For the Gambling subindustry, Churchill Downs's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Churchill Downs's EV-to-EBIT Distribution in the Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, Churchill Downs's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Churchill Downs's EV-to-EBIT falls into.



Churchill Downs EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Mar. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $729 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Churchill Downs  (NAS:CHDN) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Churchill Downs's annualized ROC % for the quarter that ended in Mar. 2024 is calculated as:

ROC % (Q: Mar. 2024 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2023 ) + Invested Capital (Q: Mar. 2024 ))/ count )
=521.6 * ( 1 - 21.02% )/( (6874.9 + 7055.6)/ 2 )
=411.95968/6965.25
=5.91 %

where

Note: The Operating Income data used here is four times the quarterly (Mar. 2024) data.

2. Joel Greenblatt's definition of Return on Capital:

Churchill Downs's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2024 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2023  Q: Mar. 2024
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=688.8/( ( (2561.2 + max(-508.4, 0)) + (2668.5 + max(-582.4, 0)) )/ 2 )
=688.8/( ( 2561.2 + 2668.5 )/ 2 )
=688.8/2614.85
=26.34 %

where Working Capital is:

Working Capital(Q: Dec. 2023 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(42.6 + 0 + 136.8) - (435.6 + 123.8 + 128.4)
=-508.4

Working Capital(Q: Mar. 2024 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(35.2 + 0 + 151.6) - (432.4 + 153.3 + 183.5)
=-582.4

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2024) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Churchill Downs's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2024 )
=728.8/14291.979
=5.10 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Churchill Downs EBIT Related Terms

Thank you for viewing the detailed overview of Churchill Downs's EBIT provided by GuruFocus.com. Please click on the following links to see related term pages.


Churchill Downs (Churchill Downs) Business Description

Traded in Other Exchanges
Address
600 North Hurstbourne Parkway, Suite 400, Louisville, KY, USA, 40222
Churchill Downs Inc is a gaming entertainment, online wagering, and racing company. It operates through three business segments: Live and Historical Racing, TwinSpires, and Gaming. The Live and Historical Racing segment includes live and historical pari-mutuel racing. The TwinSpires segment includes the revenue and expenses for online horse racing and the online and retail sports betting and iGaming wagering business. The company generates more than half of its revenue from the Gaming segment includes revenue from casino properties and associated racetrack or jai alai facilities which support the casino license as applicable.
Executives
Maureen Adams officer: SVP, Gaming Operations 600 N. HURSTBOURNE PARKWAY, SUITE 400, LOUISVLLE KY 40222
Bradley K. Blackwell officer: SVP, General Counsel 600 N. HURSTBOURNE PARKWAY, SUITE 400, LOUISVILLE KY 40222
Andrea M Carter director 600 N. HURSTBOURNE PARKWAY, SUITE 400, LOUISVILLE KY 40222
Karole Lloyd director 1932 WYNNTON ROAD, COLUMBUS GA 31999
Paul C Varga director 850 DIXIE HIGHWAY, LOUISVILLE KY 40210
R Alex Rankin director 700 CENTRAL AVENUE, LOUISVILLE KY 40208
Robert L Fealy director 700 CENTRAL AVE, LOUISVILLE KY 40208
Bridgeman Ulysses L Jr director 7 SYLVAN WAY, PARSIPPANY NJ 07054
Marcia A Dall officer: EVP, and Chief Financial Offic 600 N. HURSTBOURNE PARKWAY, SUITE 400, LOUISVILLE KY 40222
Austin W. Miller officer: SVP, Gaming Operations 600 N. HURSTBOURNE PARKWAY, SUITE 400, LOUISVILLE KY 40222
Douglas C Grissom director THREE FIRST NATIONAL PLAZA STE 3800, CHICAGO IL 60602
William E Mudd officer: President and COO 700 CENTRAL AVENUE, LOUISVILLE KY 40208
Daniel P Harrington director 700 CENTRAL AVE, LOUISVILLE KY 40208
Richard L Duchossois director, 10 percent owner
Robert L Evans director, officer: President and CEO TENLANE FARM, 825 STEELE ROAD, VESAILLES KY 40383