vs
Churchill Downs Inc（CHDN）与林肯电气（LECO）财务数据对比。点击上方公司名可切换其他公司
林肯电气的季度营收约是Churchill Downs Inc的1.6倍（$1.1B vs $663.0M），林肯电气净利率更高（12.6% vs 12.5%，领先0.1%），林肯电气同比增速更快（5.5% vs 3.1%），过去两年林肯电气的营收复合增速更高（4.9% 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。
林肯电气是美国跨国焊接产品制造企业，总部位于俄亥俄州欧几里得市，主营弧焊设备、焊接配件、等离子及氧燃料切割设备、焊接机器人系统等，业务覆盖160余个国家和地区，在全球设有42个生产基地，同时在19个国家布局了生产联盟及合资企业。
CHDN vs LECO — 直观对比
营收规模更大
LECO
是对方的1.6倍
$663.0M
营收增速更快
LECO
高出2.4%
3.1%
净利率更高
LECO
高出0.1%
12.5%
两年增速更快
LECO
近两年复合增速
-13.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $663.0M | $1.1B |
| 净利润 | $83.0M | $136.0M |
| 毛利率 | — | 34.7% |
| 营业利润率 | 21.6% | 17.1% |
| 净利率 | 12.5% | 12.6% |
| 营收同比 | 3.1% | 5.5% |
| 净利润同比 | 7.8% | -3.0% |
| 每股收益（稀释后） | $1.16 | $2.45 |
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CHDNLECO
| Q1 26 | $663.0M | — | ||
| Q4 25 | $665.9M | $1.1B | ||
| Q3 25 | $683.0M | $1.1B | ||
| Q2 25 | $934.4M | $1.1B | ||
| Q1 25 | $642.6M | $1.0B | ||
| Q4 24 | $624.2M | $1.0B | ||
| Q3 24 | $628.5M | $983.8M | ||
| Q2 24 | $890.7M | $1.0B |
净利润CHDNLECO
| Q1 26 | $83.0M | — | ||
| Q4 25 | $51.3M | $136.0M | ||
| Q3 25 | $38.1M | $122.6M | ||
| Q2 25 | $216.9M | $143.4M | ||
| Q1 25 | $76.7M | $118.5M | ||
| Q4 24 | $71.7M | $140.2M | ||
| Q3 24 | $65.4M | $100.8M | ||
| Q2 24 | $209.3M | $101.7M |
毛利率CHDNLECO
| Q1 26 | — | — | ||
| Q4 25 | — | 34.7% | ||
| Q3 25 | — | 36.7% | ||
| Q2 25 | — | 37.3% | ||
| Q1 25 | — | 36.4% | ||
| Q4 24 | — | 36.1% | ||
| Q3 24 | — | 35.8% | ||
| Q2 24 | — | 37.6% |
营业利润率CHDNLECO
| Q1 26 | 21.6% | — | ||
| Q4 25 | 18.5% | 17.1% | ||
| Q3 25 | 14.3% | 16.6% | ||
| Q2 25 | 35.1% | 17.6% | ||
| Q1 25 | 20.9% | 16.4% | ||
| Q4 24 | 20.3% | 17.3% | ||
| Q3 24 | 20.0% | 14.8% | ||
| Q2 24 | 37.0% | 14.6% |
净利率CHDNLECO
| Q1 26 | 12.5% | — | ||
| Q4 25 | 7.7% | 12.6% | ||
| Q3 25 | 5.6% | 11.6% | ||
| Q2 25 | 23.2% | 13.2% | ||
| Q1 25 | 11.9% | 11.8% | ||
| Q4 24 | 11.5% | 13.7% | ||
| Q3 24 | 10.4% | 10.2% | ||
| Q2 24 | 23.5% | 10.0% |
每股收益（稀释后）CHDNLECO
| Q1 26 | $1.16 | — | ||
| Q4 25 | — | $2.45 | ||
| Q3 25 | — | $2.21 | ||
| Q2 25 | — | $2.56 | ||
| Q1 25 | — | $2.10 | ||
| Q4 24 | — | $2.47 | ||
| Q3 24 | — | $1.77 | ||
| Q2 24 | — | $1.77 |
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 | $308.8M |
| 总债务越低越好 | $840.0M | — |
| 股东权益账面价值 | — | $1.5B |
| 总资产 | $7.5B | $3.8B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资CHDNLECO
| Q1 26 | $200.0M | — | ||
| Q4 25 | $200.6M | $308.8M | ||
| Q3 25 | $180.5M | $293.0M | ||
| Q2 25 | $182.4M | $299.5M | ||
| Q1 25 | $174.2M | $394.7M | ||
| Q4 24 | $175.5M | $377.3M | ||
| Q3 24 | $152.7M | $404.2M | ||
| Q2 24 | $140.3M | $272.7M |
总债务CHDNLECO
| Q1 26 | $840.0M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益CHDNLECO
| Q1 26 | — | — | ||
| Q4 25 | $1.0B | $1.5B | ||
| Q3 25 | $1.0B | $1.4B | ||
| Q2 25 | $1.0B | $1.4B | ||
| Q1 25 | $1.1B | $1.3B | ||
| Q4 24 | $1.1B | $1.3B | ||
| Q3 24 | $1.1B | $1.3B | ||
| Q2 24 | $1.0B | $1.3B |
总资产CHDNLECO
| Q1 26 | $7.5B | — | ||
| Q4 25 | $7.5B | $3.8B | ||
| Q3 25 | $7.5B | $3.8B | ||
| Q2 25 | $7.4B | $3.7B | ||
| Q1 25 | $7.3B | $3.6B | ||
| Q4 24 | $7.3B | $3.5B | ||
| Q3 24 | $7.2B | $3.7B | ||
| Q2 24 | $7.2B | $3.4B |
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 | $95.0M |
| 自由现金流经营现金流 - 资本支出 | — | $52.0M |
| 自由现金流率自由现金流/营收 | — | 4.8% |
| 资本支出强度资本支出/营收 | — | 4.0% |
| 现金转化率经营现金流/净利润 | 3.55× | 0.70× |
| 过去12个月自由现金流最近4个季度 | — | $534.2M |
8季度趋势，按日历期对齐
经营现金流CHDNLECO
| Q1 26 | $295.0M | — | ||
| Q4 25 | — | $95.0M | ||
| Q3 25 | $187.7M | $236.7M | ||
| Q2 25 | — | $143.8M | ||
| Q1 25 | $246.5M | $185.7M | ||
| Q4 24 | — | $95.8M | ||
| Q3 24 | $169.4M | $199.2M | ||
| Q2 24 | — | $170.7M |
自由现金流CHDNLECO
| Q1 26 | — | — | ||
| Q4 25 | — | $52.0M | ||
| Q3 25 | $166.3M | $205.1M | ||
| Q2 25 | — | $118.4M | ||
| Q1 25 | $233.9M | $158.7M | ||
| Q4 24 | — | $64.3M | ||
| Q3 24 | $154.4M | $163.5M | ||
| Q2 24 | — | $147.5M |
自由现金流率CHDNLECO
| Q1 26 | — | — | ||
| Q4 25 | — | 4.8% | ||
| Q3 25 | 24.3% | 19.3% | ||
| Q2 25 | — | 10.9% | ||
| Q1 25 | 36.4% | 15.8% | ||
| Q4 24 | — | 6.3% | ||
| Q3 24 | 24.6% | 16.6% | ||
| Q2 24 | — | 14.4% |
资本支出强度CHDNLECO
| Q1 26 | — | — | ||
| Q4 25 | 2.6% | 4.0% | ||
| Q3 25 | 3.1% | 3.0% | ||
| Q2 25 | 2.0% | 2.3% | ||
| Q1 25 | 2.0% | 2.7% | ||
| Q4 24 | 5.4% | 3.1% | ||
| Q3 24 | 2.4% | 3.6% | ||
| Q2 24 | 2.5% | 2.3% |
现金转化率CHDNLECO
| Q1 26 | 3.55× | — | ||
| Q4 25 | — | 0.70× | ||
| Q3 25 | 4.93× | 1.93× | ||
| Q2 25 | — | 1.00× | ||
| Q1 25 | 3.21× | 1.57× | ||
| Q4 24 | — | 0.68× | ||
| Q3 24 | 2.59× | 1.98× | ||
| Q2 24 | — | 1.68× |
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% |
LECO
| Americas Welding | $681.9M | 63% |
| International Welding | $259.4M | 24% |
| Harris Products Group | $137.4M | 13% |
