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Side-by-side financial comparison of Churchill Downs Inc (CHDN) and PROCORE TECHNOLOGIES, INC. (PCOR). Click either name above to swap in a different company.
Churchill Downs Inc is the larger business by last-quarter revenue ($663.0M vs $349.1M, roughly 1.9× PROCORE TECHNOLOGIES, INC.). Churchill Downs Inc runs the higher net margin — 12.5% vs -10.8%, a 23.3% gap on every dollar of revenue. On growth, PROCORE TECHNOLOGIES, INC. posted the faster year-over-year revenue change (15.6% vs 3.1%). Over the past eight quarters, PROCORE TECHNOLOGIES, INC.'s revenue compounded faster (13.8% 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.
Procore Technologies is an American construction management software as a service company founded in 2002, with headquarters in Carpinteria, California. Procore hosts a platform to connect those involved in the construction industry on a global platform. The software allows for the creation of simplified workflows and displays a consolidated view of construction products that includes the tracking of tasks, management of project workflows, and scheduling.
CHDN vs PCOR — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $663.0M | $349.1M |
| Net Profit | $83.0M | $-37.6M |
| Gross Margin | — | 80.1% |
| Operating Margin | 21.6% | -12.3% |
| Net Margin | 12.5% | -10.8% |
| Revenue YoY | 3.1% | 15.6% |
| Net Profit YoY | 7.8% | 39.6% |
| EPS (diluted) | $1.16 | $-0.25 |
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 | $349.1M | ||
| Q3 25 | $683.0M | $338.9M | ||
| Q2 25 | $934.4M | $323.9M | ||
| Q1 25 | $642.6M | $310.6M | ||
| Q4 24 | $624.2M | $302.0M | ||
| Q3 24 | $628.5M | $295.9M | ||
| Q2 24 | $890.7M | $284.3M |
| Q1 26 | $83.0M | — | ||
| Q4 25 | $51.3M | $-37.6M | ||
| Q3 25 | $38.1M | $-9.1M | ||
| Q2 25 | $216.9M | $-21.1M | ||
| Q1 25 | $76.7M | $-33.0M | ||
| Q4 24 | $71.7M | $-62.3M | ||
| Q3 24 | $65.4M | $-26.4M | ||
| Q2 24 | $209.3M | $-6.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | 80.1% | ||
| Q3 25 | — | 79.7% | ||
| Q2 25 | — | 79.1% | ||
| Q1 25 | — | 79.1% | ||
| Q4 24 | — | 81.2% | ||
| Q3 24 | — | 81.4% | ||
| Q2 24 | — | 83.1% |
| Q1 26 | 21.6% | — | ||
| Q4 25 | 18.5% | -12.3% | ||
| Q3 25 | 14.3% | -4.4% | ||
| Q2 25 | 35.1% | -9.3% | ||
| Q1 25 | 20.9% | -11.7% | ||
| Q4 24 | 20.3% | -21.9% | ||
| Q3 24 | 20.0% | -12.3% | ||
| Q2 24 | 37.0% | -5.2% |
| Q1 26 | 12.5% | — | ||
| Q4 25 | 7.7% | -10.8% | ||
| Q3 25 | 5.6% | -2.7% | ||
| Q2 25 | 23.2% | -6.5% | ||
| Q1 25 | 11.9% | -10.6% | ||
| Q4 24 | 11.5% | -20.6% | ||
| Q3 24 | 10.4% | -8.9% | ||
| Q2 24 | 23.5% | -2.2% |
| Q1 26 | $1.16 | — | ||
| Q4 25 | — | $-0.25 | ||
| Q3 25 | — | $-0.06 | ||
| Q2 25 | — | $-0.14 | ||
| Q1 25 | — | $-0.22 | ||
| Q4 24 | — | $-0.42 | ||
| Q3 24 | — | $-0.18 | ||
| Q2 24 | — | $-0.04 |
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 | $768.5M |
| Total DebtLower is stronger | $840.0M | — |
| Stockholders' EquityBook value | — | $1.3B |
| Total Assets | $7.5B | $2.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $200.0M | — | ||
| Q4 25 | $200.6M | $768.5M | ||
| Q3 25 | $180.5M | $684.0M | ||
| Q2 25 | $182.4M | $620.9M | ||
| Q1 25 | $174.2M | $566.7M | ||
| Q4 24 | $175.5M | $775.4M | ||
| Q3 24 | $152.7M | $756.9M | ||
| Q2 24 | $140.3M | $735.4M |
| Q1 26 | $840.0M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | $1.0B | $1.3B | ||
| Q3 25 | $1.0B | $1.2B | ||
| Q2 25 | $1.0B | $1.2B | ||
| Q1 25 | $1.1B | $1.2B | ||
| Q4 24 | $1.1B | $1.3B | ||
| Q3 24 | $1.1B | $1.3B | ||
| Q2 24 | $1.0B | $1.3B |
| Q1 26 | $7.5B | — | ||
| Q4 25 | $7.5B | $2.2B | ||
| Q3 25 | $7.5B | $2.1B | ||
| Q2 25 | $7.4B | $2.0B | ||
| Q1 25 | $7.3B | $1.9B | ||
| Q4 24 | $7.3B | $2.1B | ||
| Q3 24 | $7.2B | $2.0B | ||
| Q2 24 | $7.2B | $2.0B |
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 | $114.9M |
| Free Cash FlowOCF − Capex | — | $109.2M |
| FCF MarginFCF / Revenue | — | 31.3% |
| Capex IntensityCapex / Revenue | — | 1.6% |
| Cash ConversionOCF / Net Profit | 3.55× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $282.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $295.0M | — | ||
| Q4 25 | — | $114.9M | ||
| Q3 25 | $187.7M | $88.5M | ||
| Q2 25 | — | $30.8M | ||
| Q1 25 | $246.5M | $66.0M | ||
| Q4 24 | — | $29.1M | ||
| Q3 24 | $169.4M | $39.3M | ||
| Q2 24 | — | $58.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | $109.2M | ||
| Q3 25 | $166.3M | $83.1M | ||
| Q2 25 | — | $27.9M | ||
| Q1 25 | $233.9M | $62.0M | ||
| Q4 24 | — | $17.4M | ||
| Q3 24 | $154.4M | $35.7M | ||
| Q2 24 | — | $56.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | 31.3% | ||
| Q3 25 | 24.3% | 24.5% | ||
| Q2 25 | — | 8.6% | ||
| Q1 25 | 36.4% | 20.0% | ||
| Q4 24 | — | 5.8% | ||
| Q3 24 | 24.6% | 12.1% | ||
| Q2 24 | — | 20.0% |
| Q1 26 | — | — | ||
| Q4 25 | 2.6% | 1.6% | ||
| Q3 25 | 3.1% | 1.6% | ||
| Q2 25 | 2.0% | 0.9% | ||
| Q1 25 | 2.0% | 1.3% | ||
| Q4 24 | 5.4% | 3.9% | ||
| Q3 24 | 2.4% | 1.2% | ||
| Q2 24 | 2.5% | 0.7% |
| Q1 26 | 3.55× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 4.93× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 3.21× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.59× | — | ||
| Q2 24 | — | — |
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% |
PCOR
| US | $298.3M | 85% |
| Non Us | $50.9M | 15% |
