Churchill Downs (BSP:C2HD34) E10: R$0.97 (As of Mar. 2026)


BSP:C2HD34 Churchill Downs Inc BSP:C2HD34
77 GF Score
Price R$22.08
GF Value R$38.57
Valuation Possible Value Trap
! 4 Warning Signs
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What is Churchill Downs E10?

Churchill Downs BSP:C2HD34 77 E10 is R$0.97 as of Mar. 2026. GuruFocus rates BSP:C2HD34 with a GF Score™ of 77/100 and a GF Value™ of R$38.57 (Possible Value Trap). The stock has 4 warning signs investors should review.

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller P/E calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years.

Churchill Downs's adjusted earnings per share data for the three months ended in Mar. 2026 was R$0.303. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is R$0.97 for the trailing ten years ended in Mar. 2026.

During the past 12 months, Churchill Downs's average E10 Growth Rate was 17.40% per year. During the past 3 years, the average E10 Growth Rate was 22.50% per year. During the past 5 years, the average E10 Growth Rate was 28.40% per year. During the past 10 years, the average E10 Growth Rate was 24.30% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the E10 growth rate using E10 data.

During the past 13 years, the highest 3-Year average E10 Growth Rate of Churchill Downs was 34.40% per year. The lowest was -0.90% per year. And the median was 10.70% per year.

As of today (2026-07-06), Churchill Downs's current stock price is R$22.08. Churchill Downs's E10 for the quarter that ended in Mar. 2026 was R$0.97. Churchill Downs's Shiller PE Ratio of today is 22.76.

During the past 13 years, the highest Shiller PE Ratio of Churchill Downs was 117.75. The lowest was 22.17. And the median was 53.09.


Churchill Downs  (BSP:C2HD34) E10 Explanation

If a company grows much fast than inflation, E10 may underestimate the company's earnings power. Shiller PE Ratio can seem to be too high even the actual P/E is low.

For the Shiller P/E, the earnings of the past 10 years are inflation-adjusted and averaged. The result is used for P/E calculation. Since it looks at the average over the last 10 years, the Shiller P/E is also called PE10.

The Shiller P/E was first used by professor Robert Shiller to measure the valuation of the overall market. The same calculation is applied here to individual companies.

Churchill Downs's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=22.08/0.97
=22.76

* 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.

During the past 13 years, the highest Shiller P/E Ratio of Churchill Downs was 117.75. The lowest was 22.17. And the median was 53.09.


Be Aware

Shiller PE Ratio works better for cyclical companies. It gives you a better idea on the company's real earnings power.


Churchill Downs E10 Related Terms


Churchill Downs E10 Historical Data

* Premium members only.

The historical data trend for Churchill Downs's E10 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.

Churchill Downs E10 Chart

Churchill Downs Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
E10
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.42 0.53 0.56 0.93 0.95

Churchill Downs Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
E10 Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.98 0.94 1.05 0.95 0.97

BSP:C2HD34 vs LNWO, SGHC, RSI: E10 Comparison

For the Gambling subindustry, Churchill Downs's Shiller PE Ratio, along with its competitors' market caps and Shiller PE Ratio 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 Shiller PE Ratio vs Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, Churchill Downs's Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where Churchill Downs's Shiller PE Ratio falls into.


BSP:C2HD34
77GF Score
Churchill Downs Inc BSP:C2HD34
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Churchill Downs E10 Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller P/E calculation. When we calculate the today's Shiller P/E ratio of a stock, we use today's price divided by E10.

What is E10? How do we calculate E10?

E10 is the average of the inflation adjusted earnings of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the E10 of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the earnings from 2001 through 2010.

We adjusted the earnings of 2001 earnings data with the total inflation from 2001 through 2010 to the equivalent earnings in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart earned $1 a share in 2001, then the 2001's equivalent earnings in 2010 is $1.4 a share. If Wal-Mart earns $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 earnings in 2010 is $1.35. So on and so forth, you get the equivalent earnings of past 10 years. Then you add them together and divided the sum by 10 to get E10.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

For example, Churchill Downs's adjusted earnings per share data for the three months ended in Mar. 2026 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=0.303/330.2130*330.2130
=0.303

Current CPI (Mar. 2026) = 330.2130.

Churchill Downs Quarterly Data

per share eps CPI Adj_EPS
201606 0.117 241.018 0.160
201609 0.014 241.428 0.019
201612 0.045 241.432 0.062
201703 0.011 243.801 0.015
201706 0.132 244.955 0.178
201709 0.028 246.819 0.037
201712 0.068 246.524 0.091
201803 0.343 249.554 0.454
201806 0.238 251.989 0.312
201809 0.142 252.439 0.186
201812 0.027 251.233 0.035
201903 0.028 254.202 0.036
201906 0.254 256.143 0.327
201909 0.037 256.759 0.048
201912 0.010 256.974 0.013
202003 -0.072 258.115 -0.092
202006 -0.389 257.797 -0.498
202009 0.146 260.280 0.185
202012 0.055 260.474 0.070
202103 0.128 264.877 0.160
202106 0.347 271.696 0.422
202109 0.207 274.310 0.249
202112 0.157 278.802 0.186
202203 0.134 287.504 0.154
202206 1.108 296.311 1.235
202209 0.194 296.808 0.216
202212 0.004 296.797 0.004
202303 0.534 301.836 0.584
202306 0.451 305.109 0.488
202309 0.195 307.789 0.209
202312 0.186 306.746 0.200
202403 0.269 312.332 0.284
202406 0.751 314.175 0.789
202409 0.238 315.301 0.249
202412 0.290 315.605 0.303
202503 0.294 319.799 0.304
202506 0.829 322.561 0.849
202509 0.145 324.800 0.147
202512 0.194 324.054 0.198
202603 0.303 330.213 0.303

Add all the adjusted EPS together and divide 10 will get our e10.

Frequently Asked Questions Learn more about E10 →
What does a E10 of R$0.97 mean?
Churchill Downs (BSP:C2HD34) has a E10 of R$0.97 as of Mar. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Churchill Downs and its competitors.
Is Churchill Downs' E10 too high?
Churchill Downs' current E10 is R$0.97. Overall, Churchill Downs has a GF Score™ of 77/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Churchill Downs' E10 compare to LNWO and SGHC?
Churchill Downs' E10 of R$0.97 can be compared against companies in the Travel & Leisure industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good E10 for a Travel & Leisure company?
A good E10 depends on the Travel & Leisure industry context. However, E10 should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high E10 mean?
A high E10 can signal that a stock is expensive relative to its fundamentals. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Churchill Downs and its competitors. Churchill Downs's current E10 is R$0.97. 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?
Based on GuruFocus' analysis, Churchill Downs (BSP:C2HD34) is currently considered Possible Value Trap. The stock's GF Value™ is R$38.57, compared to a current price of R$22.08 — trading 42.8% below its estimated fair value. The current E10 is R$0.97. Churchill Downs' overall GF Score™ is 77/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is E10 calculated?
E10 is calculated from a company's financial statements. For Churchill Downs (BSP:C2HD34), the current E10 is R$0.97 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 (BSP:C2HD34) Overvalued in 2026?

Based on GuruFocus' analysis, Churchill Downs stock appears to be undervalued. The current stock price of R$22.08 is trading 42.8% below its estimated GF Value™ of R$38.57. GuruFocus considers Churchill Downs to be Possible Value Trap.

Key valuation signals for BSP:C2HD34:

  • E10: R$0.97
  • GF Value™: R$38.57 vs. price of R$22.08 (42.8% below fair value)
  • GF Score™: 77/100 with 4 warning signs

No single metric tells the full story. See the BSP:C2HD34 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Churchill Downs Business Description

Other Exchanges CHDN:USACHR:Germany
Address 600 North Hurstbourne Parkway, Suite 400, Louisville, KY, USA, 40222
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.
77GF Score

Get the complete analysis for BSP:C2HD34

E10 is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

R$22.08
Price
R$38.57
GF Value