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Churchill Downs Inc（CHDN）与Ryman Hospitality Properties, Inc.（RHP）财务数据对比。点击上方公司名可切换其他公司
Ryman Hospitality Properties, Inc.的季度营收约是Churchill Downs Inc的1.1倍（$737.8M vs $663.0M），Churchill Downs Inc净利率更高（12.5% vs 10.1%，领先2.4%），Ryman Hospitality Properties, Inc.同比增速更快（13.9% vs 3.1%），过去两年Ryman Hospitality Properties, Inc.的营收复合增速更高（18.2% 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。
莱曼酒店地产是一家主营酒店、度假村、娱乐及媒体业务的企业，得名于旗下位于田纳西州纳什维尔的国家历史地标莱曼礼堂。公司历史可追溯至曾为俄克拉荷马出版公司子公司时期，1983年收购WSM公司后奠定现代业务基础，同时将知名演出IP大奥普里等核心资产纳入麾下。
CHDN vs RHP — 直观对比
营收规模更大
RHP
是对方的1.1倍
$663.0M
营收增速更快
RHP
高出10.8%
3.1%
净利率更高
CHDN
高出2.4%
10.1%
两年增速更快
RHP
近两年复合增速
-13.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $663.0M | $737.8M |
| 净利润 | $83.0M | $74.5M |
| 毛利率 | — | 41.4% |
| 营业利润率 | 21.6% | 19.4% |
| 净利率 | 12.5% | 10.1% |
| 营收同比 | 3.1% | 13.9% |
| 净利润同比 | 7.8% | 3.0% |
| 每股收益（稀释后） | $1.16 | $1.12 |
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CHDNRHP
| Q1 26 | $663.0M | — | ||
| Q4 25 | $665.9M | $737.8M | ||
| Q3 25 | $683.0M | $592.5M | ||
| Q2 25 | $934.4M | $659.5M | ||
| Q1 25 | $642.6M | $587.3M | ||
| Q4 24 | $624.2M | $647.6M | ||
| Q3 24 | $628.5M | $550.0M | ||
| Q2 24 | $890.7M | $613.3M |
净利润CHDNRHP
| Q1 26 | $83.0M | — | ||
| Q4 25 | $51.3M | $74.5M | ||
| Q3 25 | $38.1M | $34.9M | ||
| Q2 25 | $216.9M | $71.8M | ||
| Q1 25 | $76.7M | $63.0M | ||
| Q4 24 | $71.7M | $72.3M | ||
| Q3 24 | $65.4M | $59.0M | ||
| Q2 24 | $209.3M | $100.8M |
毛利率CHDNRHP
| Q1 26 | — | — | ||
| Q4 25 | — | 41.4% | ||
| Q3 25 | — | 40.9% | ||
| Q2 25 | — | 49.7% | ||
| Q1 25 | — | 44.4% | ||
| Q4 24 | — | 40.4% | ||
| Q3 24 | — | 43.1% | ||
| Q2 24 | — | 48.4% |
营业利润率CHDNRHP
| Q1 26 | 21.6% | — | ||
| Q4 25 | 18.5% | 19.4% | ||
| Q3 25 | 14.3% | 15.0% | ||
| Q2 25 | 35.1% | 21.1% | ||
| Q1 25 | 20.9% | 19.8% | ||
| Q4 24 | 20.3% | 18.6% | ||
| Q3 24 | 20.0% | 19.3% | ||
| Q2 24 | 37.0% | 27.4% |
净利率CHDNRHP
| Q1 26 | 12.5% | — | ||
| Q4 25 | 7.7% | 10.1% | ||
| Q3 25 | 5.6% | 5.9% | ||
| Q2 25 | 23.2% | 10.9% | ||
| Q1 25 | 11.9% | 10.7% | ||
| Q4 24 | 11.5% | 11.2% | ||
| Q3 24 | 10.4% | 10.7% | ||
| Q2 24 | 23.5% | 16.4% |
每股收益（稀释后）CHDNRHP
| Q1 26 | $1.16 | — | ||
| Q4 25 | — | $1.12 | ||
| Q3 25 | — | $0.53 | ||
| Q2 25 | — | $1.12 | ||
| Q1 25 | — | $1.00 | ||
| Q4 24 | — | $1.12 | ||
| Q3 24 | — | $0.94 | ||
| Q2 24 | — | $1.65 |
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 | $471.4M |
| 总债务越低越好 | $840.0M | — |
| 股东权益账面价值 | — | $750.2M |
| 总资产 | $7.5B | $6.2B |
| 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CHDNRHP
| Q1 26 | $200.0M | — | ||
| Q4 25 | $200.6M | $471.4M | ||
| Q3 25 | $180.5M | $483.3M | ||
| Q2 25 | $182.4M | $420.6M | ||
| Q1 25 | $174.2M | $413.9M | ||
| Q4 24 | $175.5M | $477.7M | ||
| Q3 24 | $152.7M | $534.9M | ||
| Q2 24 | $140.3M | $498.4M |
总债务CHDNRHP
| Q1 26 | $840.0M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益CHDNRHP
| Q1 26 | — | — | ||
| Q4 25 | $1.0B | $750.2M | ||
| Q3 25 | $1.0B | $758.5M | ||
| Q2 25 | $1.0B | $800.4M | ||
| Q1 25 | $1.1B | $531.5M | ||
| Q4 24 | $1.1B | $549.0M | ||
| Q3 24 | $1.1B | $551.9M | ||
| Q2 24 | $1.0B | $562.6M |
总资产CHDNRHP
| Q1 26 | $7.5B | — | ||
| Q4 25 | $7.5B | $6.2B | ||
| Q3 25 | $7.5B | $6.2B | ||
| Q2 25 | $7.4B | $6.1B | ||
| Q1 25 | $7.3B | $5.2B | ||
| Q4 24 | $7.3B | $5.2B | ||
| Q3 24 | $7.2B | $5.2B | ||
| Q2 24 | $7.2B | $5.1B |
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 | $164.7M |
| 自由现金流经营现金流 - 资本支出 | — | $58.5M |
| 自由现金流率自由现金流/营收 | — | 7.9% |
| 资本支出强度资本支出/营收 | — | 14.4% |
| 现金转化率经营现金流/净利润 | 3.55× | 2.21× |
| 过去12个月自由现金流最近4个季度 | — | $232.4M |
8季度趋势，按日历期对齐
经营现金流CHDNRHP
| Q1 26 | $295.0M | — | ||
| Q4 25 | — | $164.7M | ||
| Q3 25 | $187.7M | $205.2M | ||
| Q2 25 | — | $122.5M | ||
| Q1 25 | $246.5M | $98.2M | ||
| Q4 24 | — | $166.6M | ||
| Q3 24 | $169.4M | $218.1M | ||
| Q2 24 | — | $184.3M |
自由现金流CHDNRHP
| Q1 26 | — | — | ||
| Q4 25 | — | $58.5M | ||
| Q3 25 | $166.3M | $135.4M | ||
| Q2 25 | — | $53.0M | ||
| Q1 25 | $233.9M | $-14.5M | ||
| Q4 24 | — | $76.0M | ||
| Q3 24 | $154.4M | $85.7M | ||
| Q2 24 | — | $78.8M |
自由现金流率CHDNRHP
| Q1 26 | — | — | ||
| Q4 25 | — | 7.9% | ||
| Q3 25 | 24.3% | 22.9% | ||
| Q2 25 | — | 8.0% | ||
| Q1 25 | 36.4% | -2.5% | ||
| Q4 24 | — | 11.7% | ||
| Q3 24 | 24.6% | 15.6% | ||
| Q2 24 | — | 12.9% |
资本支出强度CHDNRHP
| Q1 26 | — | — | ||
| Q4 25 | 2.6% | 14.4% | ||
| Q3 25 | 3.1% | 11.8% | ||
| Q2 25 | 2.0% | 10.5% | ||
| Q1 25 | 2.0% | 19.2% | ||
| Q4 24 | 5.4% | 14.0% | ||
| Q3 24 | 2.4% | 24.1% | ||
| Q2 24 | 2.5% | 17.2% |
现金转化率CHDNRHP
| Q1 26 | 3.55× | — | ||
| Q4 25 | — | 2.21× | ||
| Q3 25 | 4.93× | 5.88× | ||
| Q2 25 | — | 1.71× | ||
| Q1 25 | 3.21× | 1.56× | ||
| Q4 24 | — | 2.30× | ||
| Q3 24 | 2.59× | 3.70× | ||
| Q2 24 | — | 1.83× |
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% |
RHP
| Hotel Other | $157.7M | 21% |
| Gaylord Opryland | $147.4M | 20% |
| Hotel Transient Rooms | $93.6M | 13% |
| Hotel Food And Beverage Outlets | $92.2M | 12% |
| Gaylord Palms | $88.2M | 12% |
| Jw Marriott Hill Country | $53.7M | 7% |
| Entertainment Admissions And Ticketing | $43.1M | 6% |
| Entertainment Food And Beverage | $38.1M | 5% |
| Entertainment Retail And Other | $28.3M | 4% |
| Ac Hotel | $2.4M | 0% |
