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Side-by-side financial comparison of Aptiv (APTV) and Churchill Downs Inc (CHDN). Click either name above to swap in a different company.
Aptiv is the larger business by last-quarter revenue ($5.2B vs $663.0M, roughly 7.8× Churchill Downs Inc). Churchill Downs Inc runs the higher net margin — 12.5% vs 2.7%, a 9.8% gap on every dollar of revenue. On growth, Aptiv posted the faster year-over-year revenue change (5.0% vs 3.1%). Over the past eight quarters, Aptiv's revenue compounded faster (2.5% CAGR vs -13.7%).
Aptiv PLC is an American automotive technology supplier with headquarters in Schaffhausen, Switzerland. Aptiv grew out of the now-defunct American company, Delphi Automotive Systems, which itself was formerly a component of General Motors.
Churchill Downs Incorporated is the parent company of Churchill Downs. The company has evolved from one racetrack in Louisville, Kentucky, to a multi American-state-wide, publicly traded company with racetracks, casinos and an online wagering company among its portfolio of businesses.
APTV vs CHDN — Head-to-Head
Income Statement — Q4 2025 vs Q1 2026
| Metric | | |
|---|---|---|
| Revenue | $5.2B | $663.0M |
| Net Profit | $138.0M | $83.0M |
| Gross Margin | 18.7% | — |
| Operating Margin | 8.2% | 21.6% |
| Net Margin | 2.7% | 12.5% |
| Revenue YoY | 5.0% | 3.1% |
| Net Profit YoY | -48.5% | 7.8% |
| EPS (diluted) | $0.63 | $1.16 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $663.0M | ||
| Q4 25 | $5.2B | $665.9M | ||
| Q3 25 | $5.2B | $683.0M | ||
| Q2 25 | $5.2B | $934.4M | ||
| Q1 25 | $4.8B | $642.6M | ||
| Q4 24 | $4.9B | $624.2M | ||
| Q3 24 | $4.9B | $628.5M | ||
| Q2 24 | $5.1B | $890.7M |
| Q1 26 | — | $83.0M | ||
| Q4 25 | $138.0M | $51.3M | ||
| Q3 25 | $-355.0M | $38.1M | ||
| Q2 25 | $393.0M | $216.9M | ||
| Q1 25 | $-11.0M | $76.7M | ||
| Q4 24 | $268.0M | $71.7M | ||
| Q3 24 | $363.0M | $65.4M | ||
| Q2 24 | $938.0M | $209.3M |
| Q1 26 | — | — | ||
| Q4 25 | 18.7% | — | ||
| Q3 25 | 19.5% | — | ||
| Q2 25 | 19.1% | — | ||
| Q1 25 | 19.1% | — | ||
| Q4 24 | 19.6% | — | ||
| Q3 24 | 18.6% | — | ||
| Q2 24 | 19.2% | — |
| Q1 26 | — | 21.6% | ||
| Q4 25 | 8.2% | 18.5% | ||
| Q3 25 | -3.4% | 14.3% | ||
| Q2 25 | 9.3% | 35.1% | ||
| Q1 25 | 9.3% | 20.9% | ||
| Q4 24 | 9.8% | 20.3% | ||
| Q3 24 | 10.4% | 20.0% | ||
| Q2 24 | 8.7% | 37.0% |
| Q1 26 | — | 12.5% | ||
| Q4 25 | 2.7% | 7.7% | ||
| Q3 25 | -6.8% | 5.6% | ||
| Q2 25 | 7.5% | 23.2% | ||
| Q1 25 | -0.2% | 11.9% | ||
| Q4 24 | 5.5% | 11.5% | ||
| Q3 24 | 7.5% | 10.4% | ||
| Q2 24 | 18.6% | 23.5% |
| Q1 26 | — | $1.16 | ||
| Q4 25 | $0.63 | — | ||
| Q3 25 | $-1.63 | — | ||
| Q2 25 | $1.80 | — | ||
| Q1 25 | $-0.05 | — | ||
| Q4 24 | $1.22 | — | ||
| Q3 24 | $1.48 | — | ||
| Q2 24 | $3.47 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.9B | $200.0M |
| Total DebtLower is stronger | $7.5B | $840.0M |
| Stockholders' EquityBook value | $9.2B | — |
| Total Assets | $23.4B | $7.5B |
| Debt / EquityLower = less leverage | 0.81× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $200.0M | ||
| Q4 25 | $1.9B | $200.6M | ||
| Q3 25 | $1.6B | $180.5M | ||
| Q2 25 | $1.4B | $182.4M | ||
| Q1 25 | $1.1B | $174.2M | ||
| Q4 24 | $1.6B | $175.5M | ||
| Q3 24 | $1.8B | $152.7M | ||
| Q2 24 | $2.2B | $140.3M |
| Q1 26 | — | $840.0M | ||
| Q4 25 | $7.5B | — | ||
| Q3 25 | $7.6B | — | ||
| Q2 25 | $7.8B | — | ||
| Q1 25 | $7.6B | — | ||
| Q4 24 | $7.8B | — | ||
| Q3 24 | $8.3B | — | ||
| Q2 24 | $5.5B | — |
| Q1 26 | — | — | ||
| Q4 25 | $9.2B | $1.0B | ||
| Q3 25 | $9.3B | $1.0B | ||
| Q2 25 | $9.7B | $1.0B | ||
| Q1 25 | $9.0B | $1.1B | ||
| Q4 24 | $8.8B | $1.1B | ||
| Q3 24 | $8.9B | $1.1B | ||
| Q2 24 | $11.5B | $1.0B |
| Q1 26 | — | $7.5B | ||
| Q4 25 | $23.4B | $7.5B | ||
| Q3 25 | $23.5B | $7.5B | ||
| Q2 25 | $23.9B | $7.4B | ||
| Q1 25 | $23.1B | $7.3B | ||
| Q4 24 | $23.5B | $7.3B | ||
| Q3 24 | $24.8B | $7.2B | ||
| Q2 24 | $24.8B | $7.2B |
| Q1 26 | — | — | ||
| Q4 25 | 0.81× | — | ||
| Q3 25 | 0.82× | — | ||
| Q2 25 | 0.80× | — | ||
| Q1 25 | 0.85× | — | ||
| Q4 24 | 0.89× | — | ||
| Q3 24 | 0.93× | — | ||
| Q2 24 | 0.48× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $818.0M | $295.0M |
| Free Cash FlowOCF − Capex | $651.0M | — |
| FCF MarginFCF / Revenue | 12.6% | — |
| Capex IntensityCapex / Revenue | 3.2% | — |
| Cash ConversionOCF / Net Profit | 5.93× | 3.55× |
| TTM Free Cash FlowTrailing 4 quarters | $1.5B | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $295.0M | ||
| Q4 25 | $818.0M | — | ||
| Q3 25 | $584.0M | $187.7M | ||
| Q2 25 | $510.0M | — | ||
| Q1 25 | $273.0M | $246.5M | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $499.0M | $169.4M | ||
| Q2 24 | $643.0M | — |
| Q1 26 | — | — | ||
| Q4 25 | $651.0M | — | ||
| Q3 25 | $441.0M | $166.3M | ||
| Q2 25 | $361.0M | — | ||
| Q1 25 | $76.0M | $233.9M | ||
| Q4 24 | $894.0M | — | ||
| Q3 24 | $326.0M | $154.4M | ||
| Q2 24 | $417.0M | — |
| Q1 26 | — | — | ||
| Q4 25 | 12.6% | — | ||
| Q3 25 | 8.5% | 24.3% | ||
| Q2 25 | 6.9% | — | ||
| Q1 25 | 1.6% | 36.4% | ||
| Q4 24 | 18.2% | — | ||
| Q3 24 | 6.7% | 24.6% | ||
| Q2 24 | 8.3% | — |
| Q1 26 | — | — | ||
| Q4 25 | 3.2% | 2.6% | ||
| Q3 25 | 2.7% | 3.1% | ||
| Q2 25 | 2.9% | 2.0% | ||
| Q1 25 | 4.1% | 2.0% | ||
| Q4 24 | 3.4% | 5.4% | ||
| Q3 24 | 3.6% | 2.4% | ||
| Q2 24 | 4.5% | 2.5% |
| Q1 26 | — | 3.55× | ||
| Q4 25 | 5.93× | — | ||
| Q3 25 | — | 4.93× | ||
| Q2 25 | 1.30× | — | ||
| Q1 25 | — | 3.21× | ||
| Q4 24 | 3.96× | — | ||
| Q3 24 | 1.37× | 2.59× | ||
| Q2 24 | 0.69× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
APTV
| Electrical Distribution Systems | $2.3B | 45% |
| Engineered Components Group | $1.4B | 28% |
| Active Safety | $716.0M | 14% |
| User Experience And Other | $564.0M | 11% |
| Smart Vehicle Compute And Software | $154.0M | 3% |
CHDN
| Live and Historical Racing | $297.0M | 45% |
| Gaming | $257.0M | 39% |
| Wagering Services and Solutions | $109.0M | 16% |
