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Side-by-side financial comparison of Churchill Downs Inc (CHDN) and DIODES INC (DIOD). Click either name above to swap in a different company.
Churchill Downs Inc is the larger business by last-quarter revenue ($663.0M vs $391.6M, roughly 1.7× DIODES INC). Churchill Downs Inc runs the higher net margin — 12.5% vs 2.6%, a 9.9% gap on every dollar of revenue. On growth, DIODES INC posted the faster year-over-year revenue change (15.4% vs 3.1%). Over the past eight quarters, DIODES INC's revenue compounded faster (13.9% 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.
Diodes Incorporated is a global semiconductor manufacturer that designs, produces and supplies discrete, analog and mixed-signal semiconductor products. Its solutions serve key end markets including automotive, industrial, consumer electronics, personal computing and communications infrastructure, with a worldwide customer base.
CHDN vs DIOD — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $663.0M | $391.6M |
| Net Profit | $83.0M | $10.2M |
| Gross Margin | — | 31.1% |
| Operating Margin | 21.6% | 3.4% |
| Net Margin | 12.5% | 2.6% |
| Revenue YoY | 3.1% | 15.4% |
| Net Profit YoY | 7.8% | 23.8% |
| EPS (diluted) | $1.16 | $0.23 |
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 | $391.6M | ||
| Q3 25 | $683.0M | $392.2M | ||
| Q2 25 | $934.4M | $366.2M | ||
| Q1 25 | $642.6M | $332.1M | ||
| Q4 24 | $624.2M | $339.3M | ||
| Q3 24 | $628.5M | $350.1M | ||
| Q2 24 | $890.7M | $319.8M |
| Q1 26 | $83.0M | — | ||
| Q4 25 | $51.3M | $10.2M | ||
| Q3 25 | $38.1M | $14.3M | ||
| Q2 25 | $216.9M | $46.1M | ||
| Q1 25 | $76.7M | $-4.4M | ||
| Q4 24 | $71.7M | $8.2M | ||
| Q3 24 | $65.4M | $13.7M | ||
| Q2 24 | $209.3M | $8.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 31.1% | ||
| Q3 25 | — | 30.7% | ||
| Q2 25 | — | 31.5% | ||
| Q1 25 | — | 31.5% | ||
| Q4 24 | — | 32.7% | ||
| Q3 24 | — | 33.7% | ||
| Q2 24 | — | 33.6% |
| Q1 26 | 21.6% | — | ||
| Q4 25 | 18.5% | 3.4% | ||
| Q3 25 | 14.3% | 3.0% | ||
| Q2 25 | 35.1% | 2.6% | ||
| Q1 25 | 20.9% | 0.4% | ||
| Q4 24 | 20.3% | 3.5% | ||
| Q3 24 | 20.0% | 6.2% | ||
| Q2 24 | 37.0% | 1.2% |
| Q1 26 | 12.5% | — | ||
| Q4 25 | 7.7% | 2.6% | ||
| Q3 25 | 5.6% | 3.6% | ||
| Q2 25 | 23.2% | 12.6% | ||
| Q1 25 | 11.9% | -1.3% | ||
| Q4 24 | 11.5% | 2.4% | ||
| Q3 24 | 10.4% | 3.9% | ||
| Q2 24 | 23.5% | 2.5% |
| Q1 26 | $1.16 | — | ||
| Q4 25 | — | $0.23 | ||
| Q3 25 | — | $0.31 | ||
| Q2 25 | — | $0.99 | ||
| Q1 25 | — | $-0.10 | ||
| Q4 24 | — | $0.18 | ||
| Q3 24 | — | $0.30 | ||
| Q2 24 | — | $0.17 |
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 | $377.0M |
| Total DebtLower is stronger | $840.0M | $25.7M |
| Stockholders' EquityBook value | — | $1.9B |
| Total Assets | $7.5B | $2.4B |
| Debt / EquityLower = less leverage | — | 0.01× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $200.0M | — | ||
| Q4 25 | $200.6M | $377.0M | ||
| Q3 25 | $180.5M | $386.4M | ||
| Q2 25 | $182.4M | $327.3M | ||
| Q1 25 | $174.2M | $343.9M | ||
| Q4 24 | $175.5M | $316.1M | ||
| Q3 24 | $152.7M | $319.3M | ||
| Q2 24 | $140.3M | $273.9M |
| Q1 26 | $840.0M | — | ||
| Q4 25 | — | $25.7M | ||
| Q3 25 | — | $24.9M | ||
| Q2 25 | — | $26.4M | ||
| Q1 25 | — | $20.5M | ||
| Q4 24 | — | $20.7M | ||
| Q3 24 | — | $22.2M | ||
| Q2 24 | — | $20.3M |
| Q1 26 | — | — | ||
| Q4 25 | $1.0B | $1.9B | ||
| Q3 25 | $1.0B | $1.9B | ||
| Q2 25 | $1.0B | $1.9B | ||
| Q1 25 | $1.1B | $1.8B | ||
| Q4 24 | $1.1B | $1.8B | ||
| Q3 24 | $1.1B | $1.8B | ||
| Q2 24 | $1.0B | $1.8B |
| Q1 26 | $7.5B | — | ||
| Q4 25 | $7.5B | $2.4B | ||
| Q3 25 | $7.5B | $2.5B | ||
| Q2 25 | $7.4B | $2.5B | ||
| Q1 25 | $7.3B | $2.4B | ||
| Q4 24 | $7.3B | $2.4B | ||
| Q3 24 | $7.2B | $2.4B | ||
| Q2 24 | $7.2B | $2.4B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.01× | ||
| Q3 25 | — | 0.01× | ||
| Q2 25 | — | 0.01× | ||
| Q1 25 | — | 0.01× | ||
| Q4 24 | — | 0.01× | ||
| Q3 24 | — | 0.01× | ||
| Q2 24 | — | 0.01× |
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 | $38.1M |
| Free Cash FlowOCF − Capex | — | $12.4M |
| FCF MarginFCF / Revenue | — | 3.2% |
| Capex IntensityCapex / Revenue | — | 6.6% |
| Cash ConversionOCF / Net Profit | 3.55× | 3.74× |
| TTM Free Cash FlowTrailing 4 quarters | — | $137.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $295.0M | — | ||
| Q4 25 | — | $38.1M | ||
| Q3 25 | $187.7M | $79.1M | ||
| Q2 25 | — | $41.5M | ||
| Q1 25 | $246.5M | $56.7M | ||
| Q4 24 | — | $81.8M | ||
| Q3 24 | $169.4M | $54.4M | ||
| Q2 24 | — | $14.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | $12.4M | ||
| Q3 25 | $166.3M | $62.8M | ||
| Q2 25 | — | $21.1M | ||
| Q1 25 | $233.9M | $40.8M | ||
| Q4 24 | — | $62.1M | ||
| Q3 24 | $154.4M | $39.4M | ||
| Q2 24 | — | $-3.5M |
| Q1 26 | — | — | ||
| Q4 25 | — | 3.2% | ||
| Q3 25 | 24.3% | 16.0% | ||
| Q2 25 | — | 5.8% | ||
| Q1 25 | 36.4% | 12.3% | ||
| Q4 24 | — | 18.3% | ||
| Q3 24 | 24.6% | 11.2% | ||
| Q2 24 | — | -1.1% |
| Q1 26 | — | — | ||
| Q4 25 | 2.6% | 6.6% | ||
| Q3 25 | 3.1% | 4.2% | ||
| Q2 25 | 2.0% | 5.6% | ||
| Q1 25 | 2.0% | 4.8% | ||
| Q4 24 | 5.4% | 5.8% | ||
| Q3 24 | 2.4% | 4.3% | ||
| Q2 24 | 2.5% | 5.6% |
| Q1 26 | 3.55× | — | ||
| Q4 25 | — | 3.74× | ||
| Q3 25 | 4.93× | 5.54× | ||
| Q2 25 | — | 0.90× | ||
| Q1 25 | 3.21× | — | ||
| Q4 24 | — | 9.93× | ||
| Q3 24 | 2.59× | 3.95× | ||
| Q2 24 | — | 1.80× |
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% |
DIOD
| Distributor | $253.1M | 65% |
| Direct Sales | $138.5M | 35% |
