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Side-by-side financial comparison of Churchill Downs Inc (CHDN) and WARRIOR MET COAL, INC. (HCC). Click either name above to swap in a different company.
Churchill Downs Inc is the larger business by last-quarter revenue ($663.0M vs $458.6M, roughly 1.4× WARRIOR MET COAL, INC.). WARRIOR MET COAL, INC. runs the higher net margin — 15.8% vs 12.5%, a 3.3% gap on every dollar of revenue. On growth, WARRIOR MET COAL, INC. posted the faster year-over-year revenue change (52.1% vs 3.1%). Over the past eight quarters, WARRIOR MET COAL, INC.'s revenue compounded faster (7.5% 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.
Warrior Met Coal, Inc. (ticker HCC) is a U.S.-headquartered mining enterprise that produces and distributes high-grade metallurgical coal, a key raw material for steel production. It serves steel manufacturers and industrial clients across core markets including North America, Europe, and Asia.
CHDN vs HCC — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $663.0M | $458.6M |
| Net Profit | $83.0M | $72.3M |
| Gross Margin | — | 36.7% |
| Operating Margin | 21.6% | 17.3% |
| Net Margin | 12.5% | 15.8% |
| Revenue YoY | 3.1% | 52.1% |
| Net Profit YoY | 7.8% | — |
| EPS (diluted) | $1.16 | $1.37 |
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 | $458.6M | ||
| Q4 25 | $665.9M | $384.0M | ||
| Q3 25 | $683.0M | $328.6M | ||
| Q2 25 | $934.4M | $297.5M | ||
| Q1 25 | $642.6M | $299.9M | ||
| Q4 24 | $624.2M | $297.5M | ||
| Q3 24 | $628.5M | $327.7M | ||
| Q2 24 | $890.7M | $396.5M |
| Q1 26 | $83.0M | $72.3M | ||
| Q4 25 | $51.3M | $23.0M | ||
| Q3 25 | $38.1M | $36.6M | ||
| Q2 25 | $216.9M | $5.6M | ||
| Q1 25 | $76.7M | $-8.2M | ||
| Q4 24 | $71.7M | $1.1M | ||
| Q3 24 | $65.4M | $41.8M | ||
| Q2 24 | $209.3M | $70.7M |
| Q1 26 | — | 36.7% | ||
| Q4 25 | — | 29.5% | ||
| Q3 25 | — | 27.1% | ||
| Q2 25 | — | 23.9% | ||
| Q1 25 | — | 18.1% | ||
| Q4 24 | — | 23.1% | ||
| Q3 24 | — | 29.3% | ||
| Q2 24 | — | 34.1% |
| Q1 26 | 21.6% | 17.3% | ||
| Q4 25 | 18.5% | 9.0% | ||
| Q3 25 | 14.3% | 6.3% | ||
| Q2 25 | 35.1% | 2.6% | ||
| Q1 25 | 20.9% | -5.8% | ||
| Q4 24 | 20.3% | -1.4% | ||
| Q3 24 | 20.0% | 11.9% | ||
| Q2 24 | 37.0% | 17.9% |
| Q1 26 | 12.5% | 15.8% | ||
| Q4 25 | 7.7% | 6.0% | ||
| Q3 25 | 5.6% | 11.1% | ||
| Q2 25 | 23.2% | 1.9% | ||
| Q1 25 | 11.9% | -2.7% | ||
| Q4 24 | 11.5% | 0.4% | ||
| Q3 24 | 10.4% | 12.7% | ||
| Q2 24 | 23.5% | 17.8% |
| Q1 26 | $1.16 | $1.37 | ||
| Q4 25 | — | $0.43 | ||
| Q3 25 | — | $0.70 | ||
| Q2 25 | — | $0.11 | ||
| Q1 25 | — | $-0.16 | ||
| Q4 24 | — | $0.02 | ||
| Q3 24 | — | $0.80 | ||
| Q2 24 | — | $1.35 |
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 | $233.2M |
| Total DebtLower is stronger | $840.0M | $154.4M |
| Stockholders' EquityBook value | — | — |
| Total Assets | $7.5B | $2.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $200.0M | $233.2M | ||
| Q4 25 | $200.6M | $300.0M | ||
| Q3 25 | $180.5M | $336.3M | ||
| Q2 25 | $182.4M | $383.3M | ||
| Q1 25 | $174.2M | $454.9M | ||
| Q4 24 | $175.5M | $491.5M | ||
| Q3 24 | $152.7M | $583.2M | ||
| Q2 24 | $140.3M | $709.0M |
| Q1 26 | $840.0M | $154.4M | ||
| Q4 25 | — | $154.3M | ||
| Q3 25 | — | $154.1M | ||
| Q2 25 | — | $153.9M | ||
| Q1 25 | — | $153.8M | ||
| Q4 24 | — | $153.6M | ||
| Q3 24 | — | $153.5M | ||
| Q2 24 | — | $153.3M |
| Q1 26 | — | — | ||
| Q4 25 | $1.0B | $2.1B | ||
| Q3 25 | $1.0B | $2.1B | ||
| Q2 25 | $1.0B | $2.1B | ||
| Q1 25 | $1.1B | $2.1B | ||
| Q4 24 | $1.1B | $2.1B | ||
| Q3 24 | $1.1B | $2.1B | ||
| Q2 24 | $1.0B | $2.0B |
| Q1 26 | $7.5B | $2.8B | ||
| Q4 25 | $7.5B | $2.8B | ||
| Q3 25 | $7.5B | $2.7B | ||
| Q2 25 | $7.4B | $2.6B | ||
| Q1 25 | $7.3B | $2.6B | ||
| Q4 24 | $7.3B | $2.6B | ||
| Q3 24 | $7.2B | $2.6B | ||
| Q2 24 | $7.2B | $2.6B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.07× | ||
| Q3 25 | — | 0.07× | ||
| Q2 25 | — | 0.07× | ||
| Q1 25 | — | 0.07× | ||
| Q4 24 | — | 0.07× | ||
| Q3 24 | — | 0.07× | ||
| Q2 24 | — | 0.07× |
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 | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 3.55× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $295.0M | — | ||
| Q4 25 | — | $76.1M | ||
| Q3 25 | $187.7M | $104.7M | ||
| Q2 25 | — | $37.5M | ||
| Q1 25 | $246.5M | $10.9M | ||
| Q4 24 | — | $54.2M | ||
| Q3 24 | $169.4M | $62.2M | ||
| Q2 24 | — | $147.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $166.3M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $233.9M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $154.4M | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 24.3% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 36.4% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 24.6% | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | 2.6% | — | ||
| Q3 25 | 3.1% | — | ||
| Q2 25 | 2.0% | — | ||
| Q1 25 | 2.0% | — | ||
| Q4 24 | 5.4% | — | ||
| Q3 24 | 2.4% | — | ||
| Q2 24 | 2.5% | — |
| Q1 26 | 3.55× | — | ||
| Q4 25 | — | 3.31× | ||
| Q3 25 | 4.93× | 2.86× | ||
| Q2 25 | — | 6.70× | ||
| Q1 25 | 3.21× | — | ||
| Q4 24 | — | 47.68× | ||
| Q3 24 | 2.59× | 1.49× | ||
| Q2 24 | — | 2.08× |
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% |
HCC
| Sales | $448.5M | 98% |
| Other revenues | $10.1M | 2% |
