Accel Entertainment, Inc. (ACEL) vs Churchill Downs, Incorporated (CHDN)

Accel Entertainment, Inc. and Churchill Downs, Incorporated are both Gambling companies. Churchill Downs, Incorporated is the larger, with a market value of $5.5B against $901.8M — 6.1× the size. Churchill Downs, Incorporated trades at the lower P/E: 13.7× against 16.0×. Accel Entertainment, Inc. grew revenue faster over the last twelve months: 8.70% against 5.73%. Churchill Downs, Incorporated has the higher net margin (13.8% vs 4.08%) and the lower return on invested capital (7.75% vs 11.9%). Across the 21 metrics below, Accel Entertainment, Inc. leads on 13 and Churchill Downs, Incorporated on 8.

Valuation

Metric ACEL CHDN Gambling median
P/E 16.04 13.65 16.33
P/S 0.65 1.87 0.86
P/B 3.20 4.16 3.20
Price to free cash flow 11.29 15.98 18.30
EV/EBITDA 6.23 10.49 9.68
EV/Sales 0.88 3.36 1.63
Earnings yield 6.23% 7.32% (0.02%)
Free cash flow yield 8.86% 6.26% 4.45%

Profitability

Metric ACEL CHDN Gambling median
Gross margin 31.36% 34.18% 51.63%
Operating margin 8.21% 24.13% (1.47%)
Net margin 4.08% 13.80% (3.01%)
Free cash flow margin 5.79% 18.98% 2.54%
Return on equity 20.82% 34.67% 10.65%
Return on assets 5.26% 5.54% (1.07%)
Return on invested capital 11.86% 7.75% 0.00%

Growth

Metric ACEL CHDN Gambling median
Revenue growth (TTM) 8.70% 5.73% 5.73%
EPS growth (last fiscal year) 46.34% (6.87%) —
Revenue growth, 5-year CAGR 33.29% 22.65% 23.46%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric ACEL CHDN Gambling median
Debt to equity 2.02 3.56 0.13
Current ratio 2.47 0.36 1.06
Net debt to EBITDA 1.66 5.24 0.25

Dividend

Metric ACEL CHDN Gambling median
Dividend yield — 0.30% —
Payout ratio 0.00 0.08 0.00

Size

Metric ACEL CHDN Gambling median
Market cap 901.82m 5.53b 673.72m

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