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Side-by-side financial comparison of Churchill Downs Inc (CHDN) and Kimco Realty (KIM). Click either name above to swap in a different company.
Churchill Downs Inc is the larger business by last-quarter revenue ($663.0M vs $558.0M, roughly 1.2× Kimco Realty). Kimco Realty runs the higher net margin — 29.8% vs 12.5%, a 17.3% gap on every dollar of revenue. On growth, Kimco Realty posted the faster year-over-year revenue change (4.0% vs 3.1%). Over the past eight quarters, Kimco Realty's revenue compounded faster (5.6% 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.
Kimco Realty Corporation, headquartered in Jericho, New York, is a real estate investment trust that invests in shopping centers.
CHDN vs KIM — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $663.0M | $558.0M |
| Net Profit | $83.0M | $166.3M |
| Gross Margin | — | — |
| Operating Margin | 21.6% | 37.2% |
| Net Margin | 12.5% | 29.8% |
| Revenue YoY | 3.1% | 4.0% |
| Net Profit YoY | 7.8% | 23.7% |
| EPS (diluted) | $1.16 | $0.46 |
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 | $558.0M | ||
| Q4 25 | $665.9M | $542.5M | ||
| Q3 25 | $683.0M | $535.9M | ||
| Q2 25 | $934.4M | $525.2M | ||
| Q1 25 | $642.6M | $536.6M | ||
| Q4 24 | $624.2M | $525.4M | ||
| Q3 24 | $628.5M | $507.6M | ||
| Q2 24 | $890.7M | $500.2M |
| Q1 26 | $83.0M | $166.3M | ||
| Q4 25 | $51.3M | $151.2M | ||
| Q3 25 | $38.1M | $137.8M | ||
| Q2 25 | $216.9M | $163.0M | ||
| Q1 25 | $76.7M | $132.8M | ||
| Q4 24 | $71.7M | $166.0M | ||
| Q3 24 | $65.4M | $136.0M | ||
| Q2 24 | $209.3M | $119.7M |
| Q1 26 | 21.6% | 37.2% | ||
| Q4 25 | 18.5% | 36.4% | ||
| Q3 25 | 14.3% | 34.9% | ||
| Q2 25 | 35.1% | 39.2% | ||
| Q1 25 | 20.9% | 33.6% | ||
| Q4 24 | 20.3% | 31.7% | ||
| Q3 24 | 20.0% | 33.7% | ||
| Q2 24 | 37.0% | 32.1% |
| Q1 26 | 12.5% | 29.8% | ||
| Q4 25 | 7.7% | 27.9% | ||
| Q3 25 | 5.6% | 25.7% | ||
| Q2 25 | 23.2% | 31.0% | ||
| Q1 25 | 11.9% | 24.8% | ||
| Q4 24 | 11.5% | 31.6% | ||
| Q3 24 | 10.4% | 26.8% | ||
| Q2 24 | 23.5% | 23.9% |
| Q1 26 | $1.16 | $0.46 | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — |
| Total DebtLower is stronger | $840.0M | — |
| Stockholders' EquityBook value | — | $10.4B |
| Total Assets | $7.5B | $19.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $200.0M | — | ||
| Q4 25 | $200.6M | $211.6M | ||
| Q3 25 | $180.5M | $159.3M | ||
| Q2 25 | $182.4M | $226.6M | ||
| Q1 25 | $174.2M | $131.3M | ||
| Q4 24 | $175.5M | $688.6M | ||
| Q3 24 | $152.7M | $789.0M | ||
| Q2 24 | $140.3M | $126.4M |
| Q1 26 | $840.0M | — | ||
| Q4 25 | — | $7.7B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $8.0B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $10.4B | ||
| Q4 25 | $1.0B | $10.4B | ||
| Q3 25 | $1.0B | $10.5B | ||
| Q2 25 | $1.0B | $10.5B | ||
| Q1 25 | $1.1B | $10.6B | ||
| Q4 24 | $1.1B | $10.7B | ||
| Q3 24 | $1.1B | $10.5B | ||
| Q2 24 | $1.0B | $10.6B |
| Q1 26 | $7.5B | $19.6B | ||
| Q4 25 | $7.5B | $19.7B | ||
| Q3 25 | $7.5B | $19.9B | ||
| Q2 25 | $7.4B | $19.8B | ||
| Q1 25 | $7.3B | $19.7B | ||
| Q4 24 | $7.3B | $20.3B | ||
| Q3 24 | $7.2B | $20.1B | ||
| Q2 24 | $7.2B | $19.5B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.74× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.75× | ||
| 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 | — | — |
| 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 | — | $258.4M | ||
| Q3 25 | $187.7M | $332.4M | ||
| Q2 25 | — | $305.4M | ||
| Q1 25 | $246.5M | $223.8M | ||
| Q4 24 | — | $239.5M | ||
| Q3 24 | $169.4M | $295.9M | ||
| Q2 24 | — | $294.1M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $166.3M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $233.9M | $205.4M | ||
| Q4 24 | — | — | ||
| Q3 24 | $154.4M | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 24.3% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 36.4% | 38.3% | ||
| Q4 24 | — | — | ||
| Q3 24 | 24.6% | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | 2.6% | 0.0% | ||
| Q3 25 | 3.1% | 0.0% | ||
| Q2 25 | 2.0% | 0.0% | ||
| Q1 25 | 2.0% | 3.4% | ||
| Q4 24 | 5.4% | — | ||
| Q3 24 | 2.4% | — | ||
| Q2 24 | 2.5% | — |
| Q1 26 | 3.55× | — | ||
| Q4 25 | — | 1.71× | ||
| Q3 25 | 4.93× | 2.41× | ||
| Q2 25 | — | 1.87× | ||
| Q1 25 | 3.21× | 1.69× | ||
| Q4 24 | — | 1.44× | ||
| Q3 24 | 2.59× | 2.18× | ||
| Q2 24 | — | 2.46× |
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% |
KIM
| Revenues from rental properties, net | $552.8M | 99% |
| Management and other fee income | $5.2M | 1% |
