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Side-by-side financial comparison of Churchill Downs Inc (CHDN) and DONALDSON Co INC (DCI). Click either name above to swap in a different company.
DONALDSON Co INC is the larger business by last-quarter revenue ($935.4M vs $663.0M, roughly 1.4× Churchill Downs Inc). Churchill Downs Inc runs the higher net margin — 12.5% vs 12.2%, a 0.3% gap on every dollar of revenue. On growth, DONALDSON Co INC posted the faster year-over-year revenue change (3.9% vs 3.1%). Over the past eight quarters, DONALDSON Co INC's revenue compounded faster (3.3% CAGR vs -13.7%).
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.
Donaldson Company, Inc. is a filtration company engaged in the production and marketing of filtration products used in a variety of industry sectors, including commercial/industrial, aerospace, chemical, alternative energy (windmills), food & beverage, and pharmaceuticals. Also the company's research division, located in Minneapolis, Minn., participated in defense-related projects for various military applications.
CHDN vs DCI — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $663.0M | $935.4M |
| Net Profit | $83.0M | $113.9M |
| Gross Margin | — | 35.2% |
| Operating Margin | 21.6% | 16.0% |
| Net Margin | 12.5% | 12.2% |
| Revenue YoY | 3.1% | 3.9% |
| Net Profit YoY | 7.8% | 15.1% |
| EPS (diluted) | $1.16 | $0.97 |
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 | $665.9M | $935.4M | ||
| Q3 25 | $683.0M | $980.7M | ||
| Q2 25 | $934.4M | $940.1M | ||
| Q1 25 | $642.6M | $870.0M | ||
| Q4 24 | $624.2M | $900.1M | ||
| Q3 24 | $628.5M | $935.4M | ||
| Q2 24 | $890.7M | $927.9M |
| Q1 26 | $83.0M | — | ||
| Q4 25 | $51.3M | $113.9M | ||
| Q3 25 | $38.1M | $114.3M | ||
| Q2 25 | $216.9M | $57.8M | ||
| Q1 25 | $76.7M | $95.9M | ||
| Q4 24 | $71.7M | $99.0M | ||
| Q3 24 | $65.4M | $109.7M | ||
| Q2 24 | $209.3M | $113.5M |
| Q1 26 | — | — | ||
| Q4 25 | — | 35.2% | ||
| Q3 25 | — | 34.5% | ||
| Q2 25 | — | 34.2% | ||
| Q1 25 | — | 35.2% | ||
| Q4 24 | — | 35.5% | ||
| Q3 24 | — | 35.8% | ||
| Q2 24 | — | 35.6% |
| Q1 26 | 21.6% | — | ||
| Q4 25 | 18.5% | 16.0% | ||
| Q3 25 | 14.3% | 15.5% | ||
| Q2 25 | 35.1% | 9.3% | ||
| Q1 25 | 20.9% | 14.4% | ||
| Q4 24 | 20.3% | 14.5% | ||
| Q3 24 | 20.0% | 15.6% | ||
| Q2 24 | 37.0% | 15.5% |
| Q1 26 | 12.5% | — | ||
| Q4 25 | 7.7% | 12.2% | ||
| Q3 25 | 5.6% | 11.7% | ||
| Q2 25 | 23.2% | 6.1% | ||
| Q1 25 | 11.9% | 11.0% | ||
| Q4 24 | 11.5% | 11.0% | ||
| Q3 24 | 10.4% | 11.7% | ||
| Q2 24 | 23.5% | 12.2% |
| Q1 26 | $1.16 | — | ||
| Q4 25 | — | $0.97 | ||
| Q3 25 | — | $0.97 | ||
| Q2 25 | — | $0.48 | ||
| Q1 25 | — | $0.79 | ||
| Q4 24 | — | $0.81 | ||
| Q3 24 | — | $0.90 | ||
| Q2 24 | — | $0.92 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $200.0M | $210.7M |
| Total DebtLower is stronger | $840.0M | $671.5M |
| Stockholders' EquityBook value | — | $1.5B |
| Total Assets | $7.5B | $3.0B |
| Debt / EquityLower = less leverage | — | 0.44× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $200.0M | — | ||
| Q4 25 | $200.6M | $210.7M | ||
| Q3 25 | $180.5M | $180.4M | ||
| Q2 25 | $182.4M | $178.5M | ||
| Q1 25 | $174.2M | $189.1M | ||
| Q4 24 | $175.5M | $221.2M | ||
| Q3 24 | $152.7M | $232.7M | ||
| Q2 24 | $140.3M | $223.7M |
| Q1 26 | $840.0M | — | ||
| Q4 25 | — | $671.5M | ||
| Q3 25 | — | $630.4M | ||
| Q2 25 | — | $638.8M | ||
| Q1 25 | — | $514.7M | ||
| Q4 24 | — | $538.6M | ||
| Q3 24 | — | $483.4M | ||
| Q2 24 | — | $481.8M |
| Q1 26 | — | — | ||
| Q4 25 | $1.0B | $1.5B | ||
| Q3 25 | $1.0B | $1.5B | ||
| Q2 25 | $1.0B | $1.5B | ||
| Q1 25 | $1.1B | $1.5B | ||
| Q4 24 | $1.1B | $1.5B | ||
| Q3 24 | $1.1B | $1.5B | ||
| Q2 24 | $1.0B | $1.5B |
| Q1 26 | $7.5B | — | ||
| Q4 25 | $7.5B | $3.0B | ||
| Q3 25 | $7.5B | $3.0B | ||
| Q2 25 | $7.4B | $3.0B | ||
| Q1 25 | $7.3B | $3.0B | ||
| Q4 24 | $7.3B | $3.0B | ||
| Q3 24 | $7.2B | $2.9B | ||
| Q2 24 | $7.2B | $2.9B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.44× | ||
| Q3 25 | — | 0.43× | ||
| Q2 25 | — | 0.44× | ||
| Q1 25 | — | 0.33× | ||
| Q4 24 | — | 0.35× | ||
| Q3 24 | — | 0.32× | ||
| Q2 24 | — | 0.32× |
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 | $125.4M |
| Free Cash FlowOCF − Capex | — | $111.2M |
| FCF MarginFCF / Revenue | — | 11.9% |
| Capex IntensityCapex / Revenue | — | 1.5% |
| Cash ConversionOCF / Net Profit | 3.55× | 1.10× |
| TTM Free Cash FlowTrailing 4 quarters | — | $403.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $295.0M | — | ||
| Q4 25 | — | $125.4M | ||
| Q3 25 | $187.7M | $167.8M | ||
| Q2 25 | — | $87.7M | ||
| Q1 25 | $246.5M | $90.4M | ||
| Q4 24 | — | $72.9M | ||
| Q3 24 | $169.4M | $126.0M | ||
| Q2 24 | — | $141.5M |
| Q1 26 | — | — | ||
| Q4 25 | — | $111.2M | ||
| Q3 25 | $166.3M | $147.5M | ||
| Q2 25 | — | $73.0M | ||
| Q1 25 | $233.9M | $71.5M | ||
| Q4 24 | — | $47.9M | ||
| Q3 24 | $154.4M | $106.2M | ||
| Q2 24 | — | $120.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | 11.9% | ||
| Q3 25 | 24.3% | 15.0% | ||
| Q2 25 | — | 7.8% | ||
| Q1 25 | 36.4% | 8.2% | ||
| Q4 24 | — | 5.3% | ||
| Q3 24 | 24.6% | 11.4% | ||
| Q2 24 | — | 13.0% |
| Q1 26 | — | — | ||
| Q4 25 | 2.6% | 1.5% | ||
| Q3 25 | 3.1% | 2.1% | ||
| Q2 25 | 2.0% | 1.6% | ||
| Q1 25 | 2.0% | 2.2% | ||
| Q4 24 | 5.4% | 2.8% | ||
| Q3 24 | 2.4% | 2.1% | ||
| Q2 24 | 2.5% | 2.3% |
| Q1 26 | 3.55× | — | ||
| Q4 25 | — | 1.10× | ||
| Q3 25 | 4.93× | 1.47× | ||
| Q2 25 | — | 1.52× | ||
| Q1 25 | 3.21× | 0.94× | ||
| Q4 24 | — | 0.74× | ||
| Q3 24 | 2.59× | 1.15× | ||
| Q2 24 | — | 1.25× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CHDN
| Live and Historical Racing | $297.0M | 45% |
| Gaming | $257.0M | 39% |
| Wagering Services and Solutions | $109.0M | 16% |
DCI
| Aftermarket Products | $447.1M | 48% |
| Industrial Filtration Solutions Products | $222.6M | 24% |
| Off Road Products | $86.5M | 9% |
| Life Sciences Segment | $80.0M | 9% |
| Other | $39.1M | 4% |
| Aerospace And Defense Products | $37.1M | 4% |
| On Road Products | $23.0M | 2% |
