vs
Churchill Downs Inc（CHDN）与CarMax（KMX）财务数据对比。点击上方公司名可切换其他公司
CarMax的季度营收约是Churchill Downs Inc的8.7倍（$5.8B vs $663.0M）。Churchill Downs Inc净利率更高（12.5% vs 1.1%，领先11.4%）。Churchill Downs Inc同比增速更快（3.1% vs -6.9%）。过去两年CarMax的营收复合增速更高（1.5% vs -13.7%）
丘吉尔唐斯股份有限公司是丘吉尔唐斯赛马场的母公司，起家于美国肯塔基州路易斯维尔的单一赛马场，现已发展为业务覆盖美国多州的上市企业，旗下拥有赛马场、赌场、线上投注平台等多元业务板块。
CarMax是美国知名二手车零售企业，下设两大业务板块：零售运营业务与汽车金融服务。该品牌最初是电路城公司的副业项目，1993年9月在弗吉尼亚州里士满开设首家门店，截至2025年1月在全美共运营253家线下门店。
CHDN vs KMX — 直观对比
营收规模更大
KMX
是对方的8.7倍
$663.0M
营收增速更快
CHDN
高出10.0%
-6.9%
净利率更高
CHDN
高出11.4%
1.1%
两年增速更快
KMX
近两年复合增速
-13.7%
损益表 — Q1 2026 vs Q3 2026
| 指标 | | |
|---|---|---|
| 营收 | $663.0M | $5.8B |
| 净利润 | $83.0M | $62.2M |
| 毛利率 | — | 10.2% |
| 营业利润率 | 21.6% | — |
| 净利率 | 12.5% | 1.1% |
| 营收同比 | 3.1% | -6.9% |
| 净利润同比 | 7.8% | -50.4% |
| 每股收益（稀释后） | $1.16 | $0.43 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收CHDNKMX
| Q1 26 | $663.0M | — | ||
| Q4 25 | $665.9M | $5.8B | ||
| Q3 25 | $683.0M | $6.6B | ||
| Q2 25 | $934.4M | $7.5B | ||
| Q1 25 | $642.6M | $6.0B | ||
| Q4 24 | $624.2M | $6.2B | ||
| Q3 24 | $628.5M | $7.0B | ||
| Q2 24 | $890.7M | $7.1B |
净利润CHDNKMX
| Q1 26 | $83.0M | — | ||
| Q4 25 | $51.3M | $62.2M | ||
| Q3 25 | $38.1M | $95.4M | ||
| Q2 25 | $216.9M | $210.4M | ||
| Q1 25 | $76.7M | $89.9M | ||
| Q4 24 | $71.7M | $125.4M | ||
| Q3 24 | $65.4M | $132.8M | ||
| Q2 24 | $209.3M | $152.4M |
毛利率CHDNKMX
| Q1 26 | — | — | ||
| Q4 25 | — | 10.2% | ||
| Q3 25 | — | 10.9% | ||
| Q2 25 | — | 11.8% | ||
| Q1 25 | — | 11.1% | ||
| Q4 24 | — | 10.9% | ||
| Q3 24 | — | 10.8% | ||
| Q2 24 | — | 11.1% |
营业利润率CHDNKMX
| Q1 26 | 21.6% | — | ||
| Q4 25 | 18.5% | — | ||
| Q3 25 | 14.3% | — | ||
| Q2 25 | 35.1% | — | ||
| Q1 25 | 20.9% | 2.0% | ||
| Q4 24 | 20.3% | 2.7% | ||
| Q3 24 | 20.0% | 2.5% | ||
| Q2 24 | 37.0% | 2.9% |
净利率CHDNKMX
| Q1 26 | 12.5% | — | ||
| Q4 25 | 7.7% | 1.1% | ||
| Q3 25 | 5.6% | 1.4% | ||
| Q2 25 | 23.2% | 2.8% | ||
| Q1 25 | 11.9% | 1.5% | ||
| Q4 24 | 11.5% | 2.0% | ||
| Q3 24 | 10.4% | 1.9% | ||
| Q2 24 | 23.5% | 2.1% |
每股收益（稀释后）CHDNKMX
| Q1 26 | $1.16 | — | ||
| Q4 25 | — | $0.43 | ||
| Q3 25 | — | $0.64 | ||
| Q2 25 | — | $1.38 | ||
| Q1 25 | — | $0.58 | ||
| Q4 24 | — | $0.81 | ||
| Q3 24 | — | $0.85 | ||
| Q2 24 | — | $0.97 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $200.0M | $204.9M |
| 总债务越低越好 | $840.0M | $16.6B |
| 股东权益账面价值 | — | $6.1B |
| 总资产 | $7.5B | $25.6B |
| 负债/权益比越低杠杆越低 | — | 2.74× |
8季度趋势，按日历期对齐
现金及短期投资CHDNKMX
| Q1 26 | $200.0M | — | ||
| Q4 25 | $200.6M | $204.9M | ||
| Q3 25 | $180.5M | $540.4M | ||
| Q2 25 | $182.4M | $262.8M | ||
| Q1 25 | $174.2M | $247.0M | ||
| Q4 24 | $175.5M | $271.9M | ||
| Q3 24 | $152.7M | $524.7M | ||
| Q2 24 | $140.3M | $218.9M |
总债务CHDNKMX
| Q1 26 | $840.0M | — | ||
| Q4 25 | — | $16.6B | ||
| Q3 25 | — | $17.8B | ||
| Q2 25 | — | $18.0B | ||
| Q1 25 | — | $18.1B | ||
| Q4 24 | — | $18.1B | ||
| Q3 24 | — | $18.1B | ||
| Q2 24 | — | $18.2B |
股东权益CHDNKMX
| Q1 26 | — | — | ||
| Q4 25 | $1.0B | $6.1B | ||
| Q3 25 | $1.0B | $6.2B | ||
| Q2 25 | $1.0B | $6.3B | ||
| Q1 25 | $1.1B | $6.2B | ||
| Q4 24 | $1.1B | $6.2B | ||
| Q3 24 | $1.1B | $6.2B | ||
| Q2 24 | $1.0B | $6.2B |
总资产CHDNKMX
| Q1 26 | $7.5B | — | ||
| Q4 25 | $7.5B | $25.6B | ||
| Q3 25 | $7.5B | $27.1B | ||
| Q2 25 | $7.4B | $27.4B | ||
| Q1 25 | $7.3B | $27.4B | ||
| Q4 24 | $7.3B | $27.3B | ||
| Q3 24 | $7.2B | $27.3B | ||
| Q2 24 | $7.2B | $27.2B |
负债/权益比CHDNKMX
| Q1 26 | — | — | ||
| Q4 25 | — | 2.74× | ||
| Q3 25 | — | 2.87× | ||
| Q2 25 | — | 2.86× | ||
| Q1 25 | — | 2.91× | ||
| Q4 24 | — | 2.92× | ||
| Q3 24 | — | 2.93× | ||
| Q2 24 | — | 2.95× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $295.0M | $1.3B |
| 自由现金流经营现金流 - 资本支出 | — | $1.1B |
| 自由现金流率自由现金流/营收 | — | 19.2% |
| 资本支出强度资本支出/营收 | — | 2.4% |
| 现金转化率经营现金流/净利润 | 3.55× | 20.14× |
| 过去12个月自由现金流最近4个季度 | — | $1.9B |
8季度趋势，按日历期对齐
经营现金流CHDNKMX
| Q1 26 | $295.0M | — | ||
| Q4 25 | — | $1.3B | ||
| Q3 25 | $187.7M | $785.5M | ||
| Q2 25 | — | $299.5M | ||
| Q1 25 | $246.5M | $146.4M | ||
| Q4 24 | — | $-23.4M | ||
| Q3 24 | $169.4M | $619.1M | ||
| Q2 24 | — | $-117.7M |
自由现金流CHDNKMX
| Q1 26 | — | — | ||
| Q4 25 | — | $1.1B | ||
| Q3 25 | $166.3M | $654.0M | ||
| Q2 25 | — | $162.8M | ||
| Q1 25 | $233.9M | $18.8M | ||
| Q4 24 | — | $-150.6M | ||
| Q3 24 | $154.4M | $509.9M | ||
| Q2 24 | — | $-221.6M |
自由现金流率CHDNKMX
| Q1 26 | — | — | ||
| Q4 25 | — | 19.2% | ||
| Q3 25 | 24.3% | 9.9% | ||
| Q2 25 | — | 2.2% | ||
| Q1 25 | 36.4% | 0.3% | ||
| Q4 24 | — | -2.4% | ||
| Q3 24 | 24.6% | 7.3% | ||
| Q2 24 | — | -3.1% |
资本支出强度CHDNKMX
| Q1 26 | — | — | ||
| Q4 25 | 2.6% | 2.4% | ||
| Q3 25 | 3.1% | 2.0% | ||
| Q2 25 | 2.0% | 1.8% | ||
| Q1 25 | 2.0% | 2.1% | ||
| Q4 24 | 5.4% | 2.0% | ||
| Q3 24 | 2.4% | 1.6% | ||
| Q2 24 | 2.5% | 1.5% |
现金转化率CHDNKMX
| Q1 26 | 3.55× | — | ||
| Q4 25 | — | 20.14× | ||
| Q3 25 | 4.93× | 8.24× | ||
| Q2 25 | — | 1.42× | ||
| Q1 25 | 3.21× | 1.63× | ||
| Q4 24 | — | -0.19× | ||
| Q3 24 | 2.59× | 4.66× | ||
| Q2 24 | — | -0.77× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
CHDN
| Live and Historical Racing | $297.0M | 45% |
| Gaming | $257.0M | 39% |
| Wagering Services and Solutions | $109.0M | 16% |
KMX
| Used Vehicles | $4.5B | 78% |
| Wholesale Vehicles | $1.1B | 19% |
| Other | $150.6M | 3% |
| Extendedprotectionplan Domain | $96.6M | 2% |
| Advertising Subscription Revenues Domain | $35.1M | 1% |
| Service Domain | $18.5M | 0% |
| Thirdpartyfinancefees Domain | $3.0M | 0% |
