vs
Churchill Downs Inc（CHDN）与SPIRE INC（SR）财务数据对比。点击上方公司名可切换其他公司
SPIRE INC的季度营收约是Churchill Downs Inc的1.1倍（$762.2M vs $663.0M），Churchill Downs Inc净利率更高（12.5% vs 12.5%，领先0.1%），SPIRE INC同比增速更快（13.9% vs 3.1%），过去两年Churchill Downs Inc的营收复合增速更高（-13.7% vs -17.8%）
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。
Spire Inc是总部位于美国密苏里州圣路易斯的区域公用事业控股公司，核心业务为受监管的天然气供应服务，同时布局非监管类业务拓展商业机会。旗下主要子公司Laclede Gas Company是密苏里州最大的天然气分销公用事业企业，为圣路易斯市及密苏里州东部10个县的约63.1万户住宅、商业及工业客户提供服务。
CHDN vs SR — 直观对比
营收规模更大
SR
是对方的1.1倍
$663.0M
营收增速更快
SR
高出10.8%
3.1%
净利率更高
CHDN
高出0.1%
12.5%
两年增速更快
CHDN
近两年复合增速
-17.8%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $663.0M | $762.2M |
| 净利润 | $83.0M | $95.0M |
| 毛利率 | — | 55.1% |
| 营业利润率 | 21.6% | 22.8% |
| 净利率 | 12.5% | 12.5% |
| 营收同比 | 3.1% | 13.9% |
| 净利润同比 | 7.8% | 16.9% |
| 每股收益（稀释后） | $1.16 | $1.54 |
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CHDNSR
| Q1 26 | $663.0M | — | ||
| Q4 25 | $665.9M | $762.2M | ||
| Q3 25 | $683.0M | $334.1M | ||
| Q2 25 | $934.4M | $421.9M | ||
| Q1 25 | $642.6M | $1.1B | ||
| Q4 24 | $624.2M | $669.1M | ||
| Q3 24 | $628.5M | $293.8M | ||
| Q2 24 | $890.7M | $414.1M |
净利润CHDNSR
| Q1 26 | $83.0M | — | ||
| Q4 25 | $51.3M | $95.0M | ||
| Q3 25 | $38.1M | $-39.8M | ||
| Q2 25 | $216.9M | $20.9M | ||
| Q1 25 | $76.7M | $209.3M | ||
| Q4 24 | $71.7M | $81.3M | ||
| Q3 24 | $65.4M | $-25.9M | ||
| Q2 24 | $209.3M | $-12.6M |
毛利率CHDNSR
| Q1 26 | — | — | ||
| Q4 25 | — | 55.1% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 55.6% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
营业利润率CHDNSR
| Q1 26 | 21.6% | — | ||
| Q4 25 | 18.5% | 22.8% | ||
| Q3 25 | 14.3% | -0.1% | ||
| Q2 25 | 35.1% | 16.4% | ||
| Q1 25 | 20.9% | 29.1% | ||
| Q4 24 | 20.3% | 22.2% | ||
| Q3 24 | 20.0% | 6.7% | ||
| Q2 24 | 37.0% | 7.4% |
净利率CHDNSR
| Q1 26 | 12.5% | — | ||
| Q4 25 | 7.7% | 12.5% | ||
| Q3 25 | 5.6% | -11.9% | ||
| Q2 25 | 23.2% | 5.0% | ||
| Q1 25 | 11.9% | 19.9% | ||
| Q4 24 | 11.5% | 12.2% | ||
| Q3 24 | 10.4% | -8.8% | ||
| Q2 24 | 23.5% | -3.0% |
每股收益（稀释后）CHDNSR
| Q1 26 | $1.16 | — | ||
| Q4 25 | — | $1.54 | ||
| Q3 25 | — | $-0.77 | ||
| Q2 25 | — | $0.29 | ||
| Q1 25 | — | $3.51 | ||
| Q4 24 | — | $1.34 | ||
| Q3 24 | — | $-0.63 | ||
| Q2 24 | — | $-0.28 |
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 | $4.1M |
| 总债务越低越好 | $840.0M | — |
| 股东权益账面价值 | — | $3.4B |
| 总资产 | $7.5B | $11.9B |
| 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CHDNSR
| Q1 26 | $200.0M | — | ||
| Q4 25 | $200.6M | $4.1M | ||
| Q3 25 | $180.5M | $5.7M | ||
| Q2 25 | $182.4M | $13.1M | ||
| Q1 25 | $174.2M | $15.2M | ||
| Q4 24 | $175.5M | $11.5M | ||
| Q3 24 | $152.7M | $4.5M | ||
| Q2 24 | $140.3M | $7.4M |
总债务CHDNSR
| Q1 26 | $840.0M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益CHDNSR
| Q1 26 | — | — | ||
| Q4 25 | $1.0B | $3.4B | ||
| Q3 25 | $1.0B | $3.4B | ||
| Q2 25 | $1.0B | $3.5B | ||
| Q1 25 | $1.1B | $3.5B | ||
| Q4 24 | $1.1B | $3.3B | ||
| Q3 24 | $1.1B | $3.2B | ||
| Q2 24 | $1.0B | $3.3B |
总资产CHDNSR
| Q1 26 | $7.5B | — | ||
| Q4 25 | $7.5B | $11.9B | ||
| Q3 25 | $7.5B | $11.6B | ||
| Q2 25 | $7.4B | $11.4B | ||
| Q1 25 | $7.3B | $11.3B | ||
| Q4 24 | $7.3B | $11.3B | ||
| Q3 24 | $7.2B | $10.9B | ||
| Q2 24 | $7.2B | $10.7B |
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 | $81.0M |
| 自由现金流经营现金流 - 资本支出 | — | $-121.8M |
| 自由现金流率自由现金流/营收 | — | -16.0% |
| 资本支出强度资本支出/营收 | — | 26.6% |
| 现金转化率经营现金流/净利润 | 3.55× | 0.85× |
| 过去12个月自由现金流最近4个季度 | — | $-286.7M |
8季度趋势，按日历期对齐
经营现金流CHDNSR
| Q1 26 | $295.0M | — | ||
| Q4 25 | — | $81.0M | ||
| Q3 25 | $187.7M | $-4.9M | ||
| Q2 25 | — | $129.1M | ||
| Q1 25 | $246.5M | $372.7M | ||
| Q4 24 | — | $81.1M | ||
| Q3 24 | $169.4M | $82.9M | ||
| Q2 24 | — | $270.1M |
自由现金流CHDNSR
| Q1 26 | — | — | ||
| Q4 25 | — | $-121.8M | ||
| Q3 25 | $166.3M | $-227.6M | ||
| Q2 25 | — | $-91.4M | ||
| Q1 25 | $233.9M | $154.1M | ||
| Q4 24 | — | $-179.5M | ||
| Q3 24 | $154.4M | $-146.9M | ||
| Q2 24 | — | $47.9M |
自由现金流率CHDNSR
| Q1 26 | — | — | ||
| Q4 25 | — | -16.0% | ||
| Q3 25 | 24.3% | -68.1% | ||
| Q2 25 | — | -21.7% | ||
| Q1 25 | 36.4% | 14.7% | ||
| Q4 24 | — | -26.8% | ||
| Q3 24 | 24.6% | -50.0% | ||
| Q2 24 | — | 11.6% |
资本支出强度CHDNSR
| Q1 26 | — | — | ||
| Q4 25 | 2.6% | 26.6% | ||
| Q3 25 | 3.1% | 66.7% | ||
| Q2 25 | 2.0% | 52.3% | ||
| Q1 25 | 2.0% | 20.8% | ||
| Q4 24 | 5.4% | 38.9% | ||
| Q3 24 | 2.4% | 78.2% | ||
| Q2 24 | 2.5% | 53.7% |
现金转化率CHDNSR
| Q1 26 | 3.55× | — | ||
| Q4 25 | — | 0.85× | ||
| Q3 25 | 4.93× | — | ||
| Q2 25 | — | 6.18× | ||
| Q1 25 | 3.21× | 1.78× | ||
| Q4 24 | — | 1.00× | ||
| Q3 24 | 2.59× | — | ||
| Q2 24 | — | — |
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% |
SR
| Residential | $474.9M | 62% |
| Commercial And Industrial | $148.4M | 19% |
| Gas Marketing | $41.1M | 5% |
| Midstream | $39.0M | 5% |
| Transportation | $37.1M | 5% |
| Offsystem And Other Inventive | $19.7M | 3% |
| Other Customer Revenue | $4.6M | 1% |
