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Side-by-side financial comparison of Churchill Downs Inc (CHDN) and Microchip Technology (MCHP). Click either name above to swap in a different company.
Microchip Technology is the larger business by last-quarter revenue ($1.2B vs $663.0M, roughly 1.8× Churchill Downs Inc). Churchill Downs Inc runs the higher net margin — 12.5% vs 5.3%, a 7.2% gap on every dollar of revenue. On growth, Microchip Technology posted the faster year-over-year revenue change (15.6% vs 3.1%). Over the past eight quarters, Microchip Technology's revenue compounded faster (-5.4% 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.
Microchip Technology Incorporated is an American publicly traded semiconductor corporation that manufactures microcontroller, mixed-signal, analog, and Flash-IP integrated circuits.
CHDN vs MCHP — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $663.0M | $1.2B |
| Net Profit | $83.0M | $62.7M |
| Gross Margin | — | 59.6% |
| Operating Margin | 21.6% | 12.8% |
| Net Margin | 12.5% | 5.3% |
| Revenue YoY | 3.1% | 15.6% |
| Net Profit YoY | 7.8% | 217.0% |
| EPS (diluted) | $1.16 | $0.06 |
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 | $1.2B | ||
| Q3 25 | $683.0M | $1.1B | ||
| Q2 25 | $934.4M | $1.1B | ||
| Q1 25 | $642.6M | $970.5M | ||
| Q4 24 | $624.2M | $1.0B | ||
| Q3 24 | $628.5M | $1.2B | ||
| Q2 24 | $890.7M | $1.2B |
| Q1 26 | $83.0M | — | ||
| Q4 25 | $51.3M | $62.7M | ||
| Q3 25 | $38.1M | $41.7M | ||
| Q2 25 | $216.9M | $-18.6M | ||
| Q1 25 | $76.7M | $-154.6M | ||
| Q4 24 | $71.7M | $-53.6M | ||
| Q3 24 | $65.4M | $78.4M | ||
| Q2 24 | $209.3M | $129.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | 59.6% | ||
| Q3 25 | — | 55.9% | ||
| Q2 25 | — | 53.6% | ||
| Q1 25 | — | 51.6% | ||
| Q4 24 | — | 54.7% | ||
| Q3 24 | — | 57.4% | ||
| Q2 24 | — | 59.4% |
| Q1 26 | 21.6% | — | ||
| Q4 25 | 18.5% | 12.8% | ||
| Q3 25 | 14.3% | 7.8% | ||
| Q2 25 | 35.1% | 3.0% | ||
| Q1 25 | 20.9% | -10.3% | ||
| Q4 24 | 20.3% | 3.0% | ||
| Q3 24 | 20.0% | 12.6% | ||
| Q2 24 | 37.0% | 17.7% |
| Q1 26 | 12.5% | — | ||
| Q4 25 | 7.7% | 5.3% | ||
| Q3 25 | 5.6% | 3.7% | ||
| Q2 25 | 23.2% | -1.7% | ||
| Q1 25 | 11.9% | -15.9% | ||
| Q4 24 | 11.5% | -5.2% | ||
| Q3 24 | 10.4% | 6.7% | ||
| Q2 24 | 23.5% | 10.4% |
| Q1 26 | $1.16 | — | ||
| Q4 25 | — | $0.06 | ||
| Q3 25 | — | $0.03 | ||
| Q2 25 | — | $-0.09 | ||
| Q1 25 | — | $-0.29 | ||
| Q4 24 | — | $-0.10 | ||
| Q3 24 | — | $0.14 | ||
| Q2 24 | — | $0.24 |
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 | $250.7M |
| Total DebtLower is stronger | $840.0M | $5.4B |
| Stockholders' EquityBook value | — | $6.6B |
| Total Assets | $7.5B | $14.3B |
| Debt / EquityLower = less leverage | — | 0.82× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $200.0M | — | ||
| Q4 25 | $200.6M | $250.7M | ||
| Q3 25 | $180.5M | $236.8M | ||
| Q2 25 | $182.4M | $566.5M | ||
| Q1 25 | $174.2M | $771.7M | ||
| Q4 24 | $175.5M | $586.0M | ||
| Q3 24 | $152.7M | $286.1M | ||
| Q2 24 | $140.3M | $315.1M |
| Q1 26 | $840.0M | — | ||
| Q4 25 | — | $5.4B | ||
| Q3 25 | — | $5.4B | ||
| Q2 25 | — | $5.5B | ||
| Q1 25 | — | $5.6B | ||
| Q4 24 | — | $6.7B | ||
| Q3 24 | — | $6.4B | ||
| Q2 24 | — | $6.2B |
| Q1 26 | — | — | ||
| Q4 25 | $1.0B | $6.6B | ||
| Q3 25 | $1.0B | $6.7B | ||
| Q2 25 | $1.0B | $6.9B | ||
| Q1 25 | $1.1B | $7.1B | ||
| Q4 24 | $1.1B | $6.0B | ||
| Q3 24 | $1.1B | $6.3B | ||
| Q2 24 | $1.0B | $6.4B |
| Q1 26 | $7.5B | — | ||
| Q4 25 | $7.5B | $14.3B | ||
| Q3 25 | $7.5B | $14.5B | ||
| Q2 25 | $7.4B | $15.0B | ||
| Q1 25 | $7.3B | $15.4B | ||
| Q4 24 | $7.3B | $15.6B | ||
| Q3 24 | $7.2B | $15.6B | ||
| Q2 24 | $7.2B | $15.8B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.82× | ||
| Q3 25 | — | 0.80× | ||
| Q2 25 | — | 0.80× | ||
| Q1 25 | — | 0.80× | ||
| Q4 24 | — | 1.12× | ||
| Q3 24 | — | 1.02× | ||
| Q2 24 | — | 0.96× |
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 | $341.4M |
| Free Cash FlowOCF − Capex | — | $318.9M |
| FCF MarginFCF / Revenue | — | 26.9% |
| Capex IntensityCapex / Revenue | — | 1.9% |
| Cash ConversionOCF / Net Profit | 3.55× | 5.44× |
| TTM Free Cash FlowTrailing 4 quarters | — | $819.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $295.0M | — | ||
| Q4 25 | — | $341.4M | ||
| Q3 25 | $187.7M | $88.1M | ||
| Q2 25 | — | $275.6M | ||
| Q1 25 | $246.5M | $205.9M | ||
| Q4 24 | — | $271.5M | ||
| Q3 24 | $169.4M | $43.6M | ||
| Q2 24 | — | $377.1M |
| Q1 26 | — | — | ||
| Q4 25 | — | $318.9M | ||
| Q3 25 | $166.3M | $51.6M | ||
| Q2 25 | — | $257.7M | ||
| Q1 25 | $233.9M | $191.7M | ||
| Q4 24 | — | $253.4M | ||
| Q3 24 | $154.4M | $22.8M | ||
| Q2 24 | — | $304.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | 26.9% | ||
| Q3 25 | 24.3% | 4.5% | ||
| Q2 25 | — | 24.0% | ||
| Q1 25 | 36.4% | 19.8% | ||
| Q4 24 | — | 24.7% | ||
| Q3 24 | 24.6% | 2.0% | ||
| Q2 24 | — | 24.5% |
| Q1 26 | — | — | ||
| Q4 25 | 2.6% | 1.9% | ||
| Q3 25 | 3.1% | 3.2% | ||
| Q2 25 | 2.0% | 1.7% | ||
| Q1 25 | 2.0% | 1.5% | ||
| Q4 24 | 5.4% | 1.8% | ||
| Q3 24 | 2.4% | 1.8% | ||
| Q2 24 | 2.5% | 5.9% |
| Q1 26 | 3.55× | — | ||
| Q4 25 | — | 5.44× | ||
| Q3 25 | 4.93× | 2.11× | ||
| Q2 25 | — | — | ||
| Q1 25 | 3.21× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.59× | 0.56× | ||
| Q2 24 | — | 2.92× |
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% |
MCHP
| Mixed Signal Microcontrollers | $586.5M | 49% |
| Analog | $322.9M | 27% |
| Other Product Line | $276.6M | 23% |
