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Side-by-side financial comparison of Churchill Downs Inc (CHDN) and Dynatrace, Inc. (DT). Click either name above to swap in a different company.
Churchill Downs Inc is the larger business by last-quarter revenue ($663.0M vs $515.5M, roughly 1.3× Dynatrace, Inc.). Churchill Downs Inc runs the higher net margin — 12.5% vs 7.8%, a 4.7% gap on every dollar of revenue. On growth, Dynatrace, Inc. posted the faster year-over-year revenue change (18.2% vs 3.1%). Over the past eight quarters, Dynatrace, Inc.'s revenue compounded faster (16.3% 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.
Dynatrace, Inc. is an American multinational technology company that provides an AI-powered observability platform. Their software is used to monitor, analyze, and optimize application performance, software development, cyber security practices, IT infrastructure, and user experience.
CHDN vs DT — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $663.0M | $515.5M |
| Net Profit | $83.0M | $40.1M |
| Gross Margin | — | 81.4% |
| Operating Margin | 21.6% | 14.1% |
| Net Margin | 12.5% | 7.8% |
| Revenue YoY | 3.1% | 18.2% |
| Net Profit YoY | 7.8% | -88.9% |
| EPS (diluted) | $1.16 | $0.13 |
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 | $515.5M | ||
| Q3 25 | $683.0M | $493.8M | ||
| Q2 25 | $934.4M | $477.3M | ||
| Q1 25 | $642.6M | $445.2M | ||
| Q4 24 | $624.2M | $436.2M | ||
| Q3 24 | $628.5M | $418.1M | ||
| Q2 24 | $890.7M | $399.2M |
| Q1 26 | $83.0M | — | ||
| Q4 25 | $51.3M | $40.1M | ||
| Q3 25 | $38.1M | $57.2M | ||
| Q2 25 | $216.9M | $48.0M | ||
| Q1 25 | $76.7M | $39.3M | ||
| Q4 24 | $71.7M | $361.8M | ||
| Q3 24 | $65.4M | $44.0M | ||
| Q2 24 | $209.3M | $38.6M |
| Q1 26 | — | — | ||
| Q4 25 | — | 81.4% | ||
| Q3 25 | — | 81.8% | ||
| Q2 25 | — | 82.1% | ||
| Q1 25 | — | 80.9% | ||
| Q4 24 | — | 81.1% | ||
| Q3 24 | — | 81.4% | ||
| Q2 24 | — | 81.3% |
| Q1 26 | 21.6% | — | ||
| Q4 25 | 18.5% | 14.1% | ||
| Q3 25 | 14.3% | 14.8% | ||
| Q2 25 | 35.1% | 13.1% | ||
| Q1 25 | 20.9% | 9.6% | ||
| Q4 24 | 20.3% | 10.9% | ||
| Q3 24 | 20.0% | 11.2% | ||
| Q2 24 | 37.0% | 10.5% |
| Q1 26 | 12.5% | — | ||
| Q4 25 | 7.7% | 7.8% | ||
| Q3 25 | 5.6% | 11.6% | ||
| Q2 25 | 23.2% | 10.0% | ||
| Q1 25 | 11.9% | 8.8% | ||
| Q4 24 | 11.5% | 82.9% | ||
| Q3 24 | 10.4% | 10.5% | ||
| Q2 24 | 23.5% | 9.7% |
| Q1 26 | $1.16 | — | ||
| Q4 25 | — | $0.13 | ||
| Q3 25 | — | $0.19 | ||
| Q2 25 | — | $0.16 | ||
| Q1 25 | — | $0.12 | ||
| Q4 24 | — | $1.19 | ||
| Q3 24 | — | $0.15 | ||
| Q2 24 | — | $0.13 |
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 | $1.2B |
| Total DebtLower is stronger | $840.0M | — |
| Stockholders' EquityBook value | — | $2.7B |
| Total Assets | $7.5B | $4.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $200.0M | — | ||
| Q4 25 | $200.6M | $1.2B | ||
| Q3 25 | $180.5M | $1.3B | ||
| Q2 25 | $182.4M | $1.3B | ||
| Q1 25 | $174.2M | $1.1B | ||
| Q4 24 | $175.5M | $1.0B | ||
| Q3 24 | $152.7M | $1.0B | ||
| Q2 24 | $140.3M | $1.0B |
| Q1 26 | $840.0M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | $1.0B | $2.7B | ||
| Q3 25 | $1.0B | $2.8B | ||
| Q2 25 | $1.0B | $2.7B | ||
| Q1 25 | $1.1B | $2.6B | ||
| Q4 24 | $1.1B | $2.6B | ||
| Q3 24 | $1.1B | $2.1B | ||
| Q2 24 | $1.0B | $2.1B |
| Q1 26 | $7.5B | — | ||
| Q4 25 | $7.5B | $4.1B | ||
| Q3 25 | $7.5B | $4.1B | ||
| Q2 25 | $7.4B | $4.1B | ||
| Q1 25 | $7.3B | $4.1B | ||
| Q4 24 | $7.3B | $3.7B | ||
| Q3 24 | $7.2B | $3.3B | ||
| Q2 24 | $7.2B | $3.3B |
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 | $33.8M |
| Free Cash FlowOCF − Capex | — | $27.2M |
| FCF MarginFCF / Revenue | — | 5.3% |
| Capex IntensityCapex / Revenue | — | 1.3% |
| Cash ConversionOCF / Net Profit | 3.55× | 0.84× |
| TTM Free Cash FlowTrailing 4 quarters | — | $465.5M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $295.0M | — | ||
| Q4 25 | — | $33.8M | ||
| Q3 25 | $187.7M | $32.0M | ||
| Q2 25 | — | $269.7M | ||
| Q1 25 | $246.5M | $162.8M | ||
| Q4 24 | — | $42.2M | ||
| Q3 24 | $169.4M | $23.6M | ||
| Q2 24 | — | $230.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | $27.2M | ||
| Q3 25 | $166.3M | $27.8M | ||
| Q2 25 | — | $262.2M | ||
| Q1 25 | $233.9M | $148.2M | ||
| Q4 24 | — | $37.6M | ||
| Q3 24 | $154.4M | $20.1M | ||
| Q2 24 | — | $227.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | 5.3% | ||
| Q3 25 | 24.3% | 5.6% | ||
| Q2 25 | — | 54.9% | ||
| Q1 25 | 36.4% | 33.3% | ||
| Q4 24 | — | 8.6% | ||
| Q3 24 | 24.6% | 4.8% | ||
| Q2 24 | — | 57.0% |
| Q1 26 | — | — | ||
| Q4 25 | 2.6% | 1.3% | ||
| Q3 25 | 3.1% | 0.8% | ||
| Q2 25 | 2.0% | 1.6% | ||
| Q1 25 | 2.0% | 3.3% | ||
| Q4 24 | 5.4% | 1.1% | ||
| Q3 24 | 2.4% | 0.8% | ||
| Q2 24 | 2.5% | 0.8% |
| Q1 26 | 3.55× | — | ||
| Q4 25 | — | 0.84× | ||
| Q3 25 | 4.93× | 0.56× | ||
| Q2 25 | — | 5.62× | ||
| Q1 25 | 3.21× | 4.14× | ||
| Q4 24 | — | 0.12× | ||
| Q3 24 | 2.59× | 0.54× | ||
| Q2 24 | — | 5.97× |
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% |
DT
| Subscription And Circulation | $493.4M | 96% |
| Services | $22.1M | 4% |
