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Churchill DownsFRA:CHR +1.39%82 Debt-to-EBITDA is 5.08 as of Mar. 2026, which is 15% above its 10-year median of 4.42. GuruFocus rates FRA:CHR with a GF Score™ of 82/100 and a GF Value™ of €136.11. The stock has 4 warning signs investors should review. Among 649 Travel & Leisure companies, Churchill Downs ranks worse than 71.19% on this metric.
Debt-to-EBITDA measures a company's ability to pay off its debt.
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt. According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
The historical rank and industry rank for Churchill Downs's Debt-to-EBITDA or its related term are showing as below:
FRA:CHR'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: 2.62 Med: 4.42 Max: 8.73
Current: 4.56
During the past 13 years, the highest Debt-to-EBITDA Ratio of Churchill Downs was 8.73. The lowest was 2.62. And the median was 4.42.
FRA:CHR's Debt-to-EBITDA is ranked worse than 71.19% of 649
companies
in the Travel & Leisure industry
Industry Median: 2.53
vs FRA:CHR: 4.56
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt.
According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
Churchill Downs Debt-to-EBITDA Related Terms
Churchill Downs Debt-to-EBITDA Historical Data
* Premium members only.
The historical data trend for Churchill Downs's Debt-to-EBITDA can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
FRA:CHR vs LNWO, SGHC, RSI: Debt-to-EBITDA Comparison
For the Gambling subindustry, Churchill Downs's Debt-to-EBITDA, along with its competitors' market caps and Debt-to-EBITDA data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Churchill Downs Debt-to-EBITDA vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Churchill Downs's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Churchill Downs's Debt-to-EBITDA falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Debt-to-EBITDA, the EBITDA of the last fiscal year is used. In calculating the annualized quarterly data,
the EBITDA data used here is four times the quarterly (Mar. 2026) EBITDA data.
Churchill Downs (FRA:CHR) has a Debt-to-EBITDA of 5.08 as of Mar. 2026. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Churchill Downs. This is 15% above median its historical median of 4.42. Over the past decade, Churchill Downs' Debt-to-EBITDA has ranged from 2.62 to 8.73. According to the industry distribution chart, Churchill Downs ranks #462 out of 649 companies in the Travel & Leisure industry, placing it in the top 71.2%.
Is Churchill Downs' Debt-to-EBITDA too high?
Churchill Downs' current Debt-to-EBITDA of 5.08 is 15% above median its 10-year median of 4.42. Over the past 10 years, this metric has ranged from a low of 2.62 to a high of 8.73. The Travel & Leisure industry median Debt-to-EBITDA is 2.53. Churchill Downs' value of 5.08 is 100.8% above this industry median. Based on the distribution chart, Churchill Downs ranks #462 out of 649 companies in the Travel & Leisure industry, which is below the industry midpoint. Overall, Churchill Downs has a GF Score™ of 82/100, reflecting its overall financial health beyond just this single metric.
How does Churchill Downs' Debt-to-EBITDA compare to LNWO and SGHC?
According to the Travel & Leisure industry distribution chart, Churchill Downs ranks #462 out of 649 companies for Debt-to-EBITDA. This places Churchill Downs in the lower half of its industry. The industry median Debt-to-EBITDA is 2.53. Churchill Downs' value of 5.08 is 100.8% above this benchmark. Historically, Churchill Downs' own Debt-to-EBITDA has ranged from 2.62 to 8.73 over the past decade. While the company's 10-year median is 4.42 vs. the industry median of 2.53, Churchill Downs has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-EBITDA for a Travel & Leisure company?
The median Debt-to-EBITDA among Travel & Leisure companies is 2.53, based on 649 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Churchill Downs's current Debt-to-EBITDA of 5.08 is 100.8% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-EBITDA mean?
A high Debt-to-EBITDA can signal that a stock is expensive relative to its fundamentals. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Churchill Downs. For the Travel & Leisure industry, the median Debt-to-EBITDA is 2.53 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Churchill Downs's current Debt-to-EBITDA is 5.08, which is 15% above median its own 10-year median of 4.42. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Churchill Downs stock overvalued right now?
Churchill Downs (FRA:CHR) has a current Debt-to-EBITDA of 5.08. The stock's GF Value™ is €136.11, compared to a current price of €73.00 — trading 46.4% below its estimated fair value. The current Debt-to-EBITDA is 5.08, which is 15% above median its 10-year median of 4.42 and 100.8% above the Travel & Leisure industry median of 2.53. Churchill Downs' overall GF Score™ is 82/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-EBITDA calculated?
Debt-to-EBITDA is calculated from a company's financial statements. For Churchill Downs (FRA:CHR), the current Debt-to-EBITDA is 5.08 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Churchill Downs (FRA:CHR) Overvalued in 2026?
Based on GuruFocus' analysis, Churchill Downs stock appears to be undervalued.
The current stock price of €73.00 is trading 46.4% below its estimated GF Value™ of €136.11.
Key valuation signals for FRA:CHR:
Debt-to-EBITDA: 5.08 (15% above median its 10-year median of 4.42)
GF Value™: €136.11 vs. price of €73.00 (46.4% below fair value)
Industry Position: 100.8% above the Travel & Leisure median (#462 of 649)
No single metric tells the full story. See the FRA:CHR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Churchill Downs Inc is a gaming entertainment, online wagering, and racing company. It operates through three business segments: Live and Historical Racing, Wagering Services, and Gaming. The Live and Historical Racing segment includes live and historical pari-mutuel racing. The Wagering Services segment includes the revenue and expenses from pari-mutuel wagers through TwinSpires, companies retail and online sports betting business and Gaming segment includes revenue and expenses for the casino properties and associated racetracks that support the casino license. The Gaming segment generates revenue and expenses from slot machines, video lottery terminals, video poker, HRMs, ancillary food and beverage services, hotel services, commission on pari-mutuel wagering, and racing events.
82GF Score
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