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Side-by-side financial comparison of BELDEN INC. (BDC) and Churchill Downs Inc (CHDN). Click either name above to swap in a different company.
BELDEN INC. is the larger business by last-quarter revenue ($696.4M vs $663.0M, roughly 1.1× Churchill Downs Inc). Churchill Downs Inc runs the higher net margin — 12.5% vs 7.3%, a 5.2% gap on every dollar of revenue. On growth, BELDEN INC. posted the faster year-over-year revenue change (11.4% vs 3.1%). Over the past eight quarters, BELDEN INC.'s revenue compounded faster (7.3% CAGR vs -13.7%).
Belden Inc. is an American, multinational, publicly traded company specializing in the design, manufacture, and distribution of end-to-end networking, security and connectivity products. The company serves the Industrial Automation Solutions, Smart Buildings and Broadband & 5G markets.
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.
BDC vs CHDN — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $696.4M | $663.0M |
| Net Profit | $51.0M | $83.0M |
| Gross Margin | 37.1% | — |
| Operating Margin | 11.2% | 21.6% |
| Net Margin | 7.3% | 12.5% |
| Revenue YoY | 11.4% | 3.1% |
| Net Profit YoY | -1.8% | 7.8% |
| EPS (diluted) | $1.30 | $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 | $696.4M | $663.0M | ||
| Q4 25 | $720.1M | $665.9M | ||
| Q3 25 | $698.2M | $683.0M | ||
| Q2 25 | $672.0M | $934.4M | ||
| Q1 25 | $624.9M | $642.6M | ||
| Q4 24 | $666.0M | $624.2M | ||
| Q3 24 | $654.9M | $628.5M | ||
| Q2 24 | $604.3M | $890.7M |
| Q1 26 | $51.0M | $83.0M | ||
| Q4 25 | $67.9M | $51.3M | ||
| Q3 25 | $56.7M | $38.1M | ||
| Q2 25 | $61.0M | $216.9M | ||
| Q1 25 | $51.9M | $76.7M | ||
| Q4 24 | $58.4M | $71.7M | ||
| Q3 24 | $53.7M | $65.4M | ||
| Q2 24 | $49.0M | $209.3M |
| Q1 26 | 37.1% | — | ||
| Q4 25 | 36.6% | — | ||
| Q3 25 | 37.7% | — | ||
| Q2 25 | 38.5% | — | ||
| Q1 25 | 39.3% | — | ||
| Q4 24 | 37.5% | — | ||
| Q3 24 | 37.3% | — | ||
| Q2 24 | 37.5% | — |
| Q1 26 | 11.2% | 21.6% | ||
| Q4 25 | 12.2% | 18.5% | ||
| Q3 25 | 10.9% | 14.3% | ||
| Q2 25 | 11.8% | 35.1% | ||
| Q1 25 | 11.6% | 20.9% | ||
| Q4 24 | 10.4% | 20.3% | ||
| Q3 24 | 11.5% | 20.0% | ||
| Q2 24 | 11.4% | 37.0% |
| Q1 26 | 7.3% | 12.5% | ||
| Q4 25 | 9.4% | 7.7% | ||
| Q3 25 | 8.1% | 5.6% | ||
| Q2 25 | 9.1% | 23.2% | ||
| Q1 25 | 8.3% | 11.9% | ||
| Q4 24 | 8.8% | 11.5% | ||
| Q3 24 | 8.2% | 10.4% | ||
| Q2 24 | 8.1% | 23.5% |
| Q1 26 | $1.30 | $1.16 | ||
| Q4 25 | $1.70 | — | ||
| Q3 25 | $1.41 | — | ||
| Q2 25 | $1.53 | — | ||
| Q1 25 | $1.27 | — | ||
| Q4 24 | $1.41 | — | ||
| Q3 24 | $1.30 | — | ||
| Q2 24 | $1.19 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $272.2M | $200.0M |
| Total DebtLower is stronger | $1.3B | $840.0M |
| Stockholders' EquityBook value | $1.3B | — |
| Total Assets | — | $7.5B |
| Debt / EquityLower = less leverage | 0.98× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $272.2M | $200.0M | ||
| Q4 25 | $389.9M | $200.6M | ||
| Q3 25 | $314.3M | $180.5M | ||
| Q2 25 | $301.5M | $182.4M | ||
| Q1 25 | $259.0M | $174.2M | ||
| Q4 24 | $370.3M | $175.5M | ||
| Q3 24 | $323.0M | $152.7M | ||
| Q2 24 | $564.8M | $140.3M |
| Q1 26 | $1.3B | $840.0M | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.3B | $1.0B | ||
| Q3 25 | $1.2B | $1.0B | ||
| Q2 25 | $1.2B | $1.0B | ||
| Q1 25 | $1.2B | $1.1B | ||
| Q4 24 | $1.3B | $1.1B | ||
| Q3 24 | $1.2B | $1.1B | ||
| Q2 24 | $1.2B | $1.0B |
| Q1 26 | — | $7.5B | ||
| Q4 25 | $3.5B | $7.5B | ||
| Q3 25 | $3.4B | $7.5B | ||
| Q2 25 | $3.4B | $7.4B | ||
| Q1 25 | $3.3B | $7.3B | ||
| Q4 24 | $3.3B | $7.3B | ||
| Q3 24 | $3.3B | $7.2B | ||
| Q2 24 | $3.5B | $7.2B |
| Q1 26 | 0.98× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — | $295.0M |
| Free Cash FlowOCF − Capex | $-63.1M | — |
| FCF MarginFCF / Revenue | -9.1% | — |
| Capex IntensityCapex / Revenue | 6.4% | — |
| Cash ConversionOCF / Net Profit | — | 3.55× |
| TTM Free Cash FlowTrailing 4 quarters | $180.4M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $295.0M | ||
| Q4 25 | $160.4M | — | ||
| Q3 25 | $105.0M | $187.7M | ||
| Q2 25 | $82.0M | — | ||
| Q1 25 | $7.4M | $246.5M | ||
| Q4 24 | $174.7M | — | ||
| Q3 24 | $91.7M | $169.4M | ||
| Q2 24 | $83.0M | — |
| Q1 26 | $-63.1M | — | ||
| Q4 25 | $121.3M | — | ||
| Q3 25 | $65.3M | $166.3M | ||
| Q2 25 | $56.9M | — | ||
| Q1 25 | $-24.8M | $233.9M | ||
| Q4 24 | $116.4M | — | ||
| Q3 24 | $67.2M | $154.4M | ||
| Q2 24 | $61.0M | — |
| Q1 26 | -9.1% | — | ||
| Q4 25 | 16.8% | — | ||
| Q3 25 | 9.4% | 24.3% | ||
| Q2 25 | 8.5% | — | ||
| Q1 25 | -4.0% | 36.4% | ||
| Q4 24 | 17.5% | — | ||
| Q3 24 | 10.3% | 24.6% | ||
| Q2 24 | 10.1% | — |
| Q1 26 | 6.4% | — | ||
| Q4 25 | 5.4% | 2.6% | ||
| Q3 25 | 5.7% | 3.1% | ||
| Q2 25 | 3.7% | 2.0% | ||
| Q1 25 | 5.2% | 2.0% | ||
| Q4 24 | 8.8% | 5.4% | ||
| Q3 24 | 3.7% | 2.4% | ||
| Q2 24 | 3.6% | 2.5% |
| Q1 26 | — | 3.55× | ||
| Q4 25 | 2.36× | — | ||
| Q3 25 | 1.85× | 4.93× | ||
| Q2 25 | 1.34× | — | ||
| Q1 25 | 0.14× | 3.21× | ||
| Q4 24 | 2.99× | — | ||
| Q3 24 | 1.71× | 2.59× | ||
| Q2 24 | 1.69× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BDC
Segment breakdown not available.
CHDN
| Live and Historical Racing | $297.0M | 45% |
| Gaming | $257.0M | 39% |
| Wagering Services and Solutions | $109.0M | 16% |
