Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Churchill DownsFRA:CHR -0.65%82 Earnings Yield (Joel Greenblatt) % is 8.08% as of Jun. 2026, which is 57% above its 10-year median of 5.16. GuruFocus rates FRA:CHR with a GF Score™ of 82/100 and a GF Value™ of €144.18. The stock has 4 warning signs investors should review. Among 860 Travel & Leisure companies, Churchill Downs ranks better than 73.14% on this metric.
Churchill Downs's Enterprise Value for the quarter that ended in Jun. 2026 was €9,459 Mil.
Churchill Downs's EBIT for the trailing twelve months (TTM) ended in Jun. 2026 was €758 Mil. Churchill Downs's Earnings Yield (Joel Greenblatt) for the quarter that ended in Jun. 2026 was 8.08%.
The historical rank and industry rank for Churchill Downs's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
FRA:CHR'
s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: 0.5 Med: 5.16 Max: 8.45
Current: 8.45
During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of Churchill Downs was 8.45%. The lowest was 0.50%. And the median was 5.16%.
FRA:CHR's Earnings Yield (Joel Greenblatt) % is ranked better than 73.14% of 860
companies
in the Travel & Leisure industry
Industry Median: 4.635
vs FRA:CHR: 8.45
Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.
A better indicator of the attractiveness of an investment which takes growth into account is the Forward Rate of Return (Yacktman) %. Churchill Downs's Forward Rate of Return (Yacktman) % for the quarter that ended in Jun. 2026 was 22.49%. The Forward Rate of Return uses the normalized Free Cash Flow of the past five years, and considers growth. The forward rate of return can be thought of as the return that investors buying the stock today can expect from it in the future.
Joel Greenblatt defines the earnings yield using the above equation because it more accurately reflects the company's profitability relative to its stock price. Items like interest payment and tax etc. are not directly related to the company's operational profitability.
Enterprise Value instead of market cap (share price) is used in the calculation because it is the real price stock and bond investors together pay for the company.
Be Aware
Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.
Churchill Downs Earnings Yield (Joel Greenblatt) % Related Terms
Churchill Downs Earnings Yield (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Churchill Downs's Earnings Yield (Joel Greenblatt) % 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.
For the Gambling subindustry, Churchill Downs's Earnings Yield (Joel Greenblatt) %, along with its competitors' market caps and Earnings Yield (Joel Greenblatt) % 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 Earnings Yield (Joel Greenblatt) % vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Churchill Downs's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Churchill Downs's Earnings Yield (Joel Greenblatt) % falls into.
In his book, The Little That Beat the Market, hedge fund manager Joel Greenblatt defines Earnings Yield as operating income divided by enterprise value.
Churchill Downss Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2025 is calculated as
Churchill Downs's EBIT for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €758 Mil.
What does a Earnings Yield (Joel Greenblatt) % of 8.08% mean?
Churchill Downs (FRA:CHR) has a Earnings Yield (Joel Greenblatt) % of 8.08% as of Jun. 2026. Joel Greenblatt's earnings yield equals the ratio of earnings before interest and taxes to enterprise value. View historical data on Churchill Downs and its competitors. This is 57% above median its historical median of 5.16. Over the past decade, Churchill Downs' Earnings Yield (Joel Greenblatt) % has ranged from 0.50 to 8.45. According to the industry distribution chart, Churchill Downs ranks #231 out of 860 companies in the Travel & Leisure industry, placing it in the top 26.9%.
Is Churchill Downs' Earnings Yield (Joel Greenblatt) % too high?
Churchill Downs' current Earnings Yield (Joel Greenblatt) % of 8.08% is 57% above median its 10-year median of 5.16. Over the past 10 years, this metric has ranged from a low of 0.50 to a high of 8.45. The Travel & Leisure industry median Earnings Yield (Joel Greenblatt) % is 4.64. Churchill Downs' value of 8.08% is 74.3% above this industry median. Based on the distribution chart, Churchill Downs ranks #231 out of 860 companies in the Travel & Leisure industry, which is above 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' Earnings Yield (Joel Greenblatt) % compare to LNWO and SGHC?
According to the Travel & Leisure industry distribution chart, Churchill Downs ranks #231 out of 860 companies for Earnings Yield (Joel Greenblatt) %. This puts Churchill Downs in the upper half of its industry. The industry median Earnings Yield (Joel Greenblatt) % is 4.64. Churchill Downs' value of 8.08% is 74.3% above this benchmark. Historically, Churchill Downs' own Earnings Yield (Joel Greenblatt) % has ranged from 0.50 to 8.45 over the past decade. While the company's 10-year median is 5.16 vs. the industry median of 4.64, 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 Earnings Yield (Joel Greenblatt) % for a Travel & Leisure company?
The median Earnings Yield (Joel Greenblatt) % among Travel & Leisure companies is 4.64, based on 860 companies in the industry. Companies in the top quartile (top 25%) have a Earnings Yield (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, Earnings Yield (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Churchill Downs's current Earnings Yield (Joel Greenblatt) % of 8.08% is 74.3% 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 Earnings Yield (Joel Greenblatt) % mean?
A high Earnings Yield (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's earnings yield equals the ratio of earnings before interest and taxes to enterprise value. View historical data on Churchill Downs and its competitors. For the Travel & Leisure industry, the median Earnings Yield (Joel Greenblatt) % is 4.64 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Churchill Downs's current Earnings Yield (Joel Greenblatt) % is 8.08%, which is 57% above median its own 10-year median of 5.16. 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 Earnings Yield (Joel Greenblatt) % of 8.08%. The stock's GF Value™ is €144.18, compared to a current price of €76.00 — trading 47.3% below its estimated fair value. The current Earnings Yield (Joel Greenblatt) % is 8.08%, which is 57% above median its 10-year median of 5.16 and 74.3% above the Travel & Leisure industry median of 4.64. 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 Earnings Yield (Joel Greenblatt) % calculated?
Earnings Yield (Joel Greenblatt) % is calculated from a company's financial statements. For Churchill Downs (FRA:CHR), the current Earnings Yield (Joel Greenblatt) % is 8.08% as of Jun. 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 €76.00 is trading 47.3% below its estimated GF Value™ of €144.18.
Key valuation signals for FRA:CHR:
Earnings Yield (Joel Greenblatt) %: 8.08% (57% above median its 10-year median of 5.16)
GF Value™: €144.18 vs. price of €76.00 (47.3% below fair value)
Industry Position: 74.3% above the Travel & Leisure median (#231 of 860)
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
Get the complete analysis for FRA:CHR
Earnings Yield (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
FRA:CHR has been successfully added to your 
