Churchill Downs, Incorporated (CHDN) vs Rush Street Interactive, Inc. (RSI)

Churchill Downs, Incorporated and Rush Street Interactive, Inc. are both Gambling companies. Churchill Downs, Incorporated is the larger, with a market value of $5.5B against $4.5B — 1.2× the size. Churchill Downs, Incorporated trades at the lower P/E: 13.7× against 66.2×. Rush Street Interactive, Inc. grew revenue faster over the last twelve months: 34.3% against 5.73%. Churchill Downs, Incorporated has the higher net margin (13.8% vs 2.33%) and the higher return on invested capital (7.75% vs 0.00%). Across the 22 metrics below, Rush Street Interactive, Inc. leads on 13 and Churchill Downs, Incorporated on 9.

Valuation

Metric CHDN RSI Gambling median
P/E 13.65 66.23 16.33
P/S 1.87 1.61 0.86
P/B 4.16 6.50 3.20
Price to free cash flow 15.98 14.67 18.30
EV/EBITDA 10.49 10.36 9.68
EV/Sales 3.36 1.36 1.63
Earnings yield 7.32% 1.51% (0.02%)
Free cash flow yield 6.26% 6.82% 4.45%

Profitability

Metric CHDN RSI Gambling median
Gross margin 34.18% 34.97% 51.63%
Operating margin 24.13% 10.04% (1.47%)
Net margin 13.80% 2.33% (3.01%)
Free cash flow margin 18.98% 11.01% 2.54%
Return on equity 34.67% 10.80% 10.65%
Return on assets 5.54% 4.78% (1.07%)
Return on invested capital 7.75% 0.00% 0.00%

Growth

Metric CHDN RSI Gambling median
Revenue growth (TTM) 5.73% 34.29% 5.73%
EPS growth (last fiscal year) (6.87%) 933.33% —
Revenue growth, 5-year CAGR 22.65% 32.43% 23.46%
Net income growth, 5-year CAGR 0.00% 98.49% 0.00%

Health

Metric CHDN RSI Gambling median
Debt to equity 3.56 0.00 0.13
Current ratio 0.36 2.12 1.06
Net debt to EBITDA 5.24 (2.67) 0.25

Dividend

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

Size

Metric CHDN RSI Gambling median
Market cap 5.53b 4.53b 673.72m

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