Churchill DownsFRA:CHR +0.68%82 Return-on-Tangible-Asset is 8.21% as of Mar. 2026, which is 21% below its 10-year median of 10.38. GuruFocus rates FRA:CHR with a GF Score™ of 82/100 and a GF Value™ of €134.46. The stock has 4 warning signs investors should review. Among 853 Travel & Leisure companies, Churchill Downs ranks better than 82.88% on this metric.
Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Churchill Downs's annualizedNet Income for the quarter that ended in Mar. 2026 was €287 Mil. Churchill Downs's average total tangible assets for the quarter that ended in Mar. 2026 was €3,497 Mil. Therefore, Churchill Downs's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 8.21%.
The historical rank and industry rank for Churchill Downs's Return-on-Tangible-Asset or its related term are showing as below:
FRA:CHR'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -4.33 Med: 10.38 Max: 23.55
Current: 9.6
During the past 13 years, Churchill Downs's highest Return-on-Tangible-Asset was 23.55%. The lowest was -4.33%. And the median was 10.38%.
FRA:CHR's Return-on-Tangible-Asset is ranked better than 82.88% of 853
companies
in the Travel & Leisure industry
Industry Median: 2.78
vs FRA:CHR: 9.60
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
Churchill Downs Return-on-Tangible-Asset Related Terms
Churchill Downs Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Churchill Downs's Return-on-Tangible-Asset 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: Return-on-Tangible-Asset Comparison
For the Gambling subindustry, Churchill Downs's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset 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 Return-on-Tangible-Asset vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Churchill Downs's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Churchill Downs's Return-on-Tangible-Asset 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 Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Mar. 2026) net income data.
What does a Return-on-Tangible-Asset of 8.21% mean?
Churchill Downs (FRA:CHR) has a Return-on-Tangible-Asset of 8.21% as of Mar. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Churchill Downs and its competitors. This is 21% below median its historical median of 10.38. According to the industry distribution chart, Churchill Downs ranks #146 out of 853 companies in the Travel & Leisure industry, placing it in the top 17.1%.
Is Churchill Downs' Return-on-Tangible-Asset too high?
Churchill Downs' current Return-on-Tangible-Asset of 8.21% is 21% below median its 10-year median of 10.38. The Travel & Leisure industry median Return-on-Tangible-Asset is 2.78. Churchill Downs' value of 8.21% is 195.3% above this industry median. Based on the distribution chart, Churchill Downs ranks #146 out of 853 companies in the Travel & Leisure industry, which is in the top quartile — a strong position relative to peers. Overall, Churchill Downs has a GF Score™ of 82/100, reflecting its overall financial health beyond just this single metric.
How does Churchill Downs' Return-on-Tangible-Asset compare to LNWO and SGHC?
According to the Travel & Leisure industry distribution chart, Churchill Downs ranks #146 out of 853 companies for Return-on-Tangible-Asset. This places Churchill Downs in the top 17% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 2.78. Churchill Downs' value of 8.21% is 195.3% above this benchmark. While the company's 10-year median is 10.38 vs. the industry median of 2.78, 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 Return-on-Tangible-Asset for a Travel & Leisure company?
The median Return-on-Tangible-Asset among Travel & Leisure companies is 2.78, based on 853 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Asset significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Churchill Downs's current Return-on-Tangible-Asset of 8.21% is 195.3% 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 Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Churchill Downs and its competitors. For the Travel & Leisure industry, the median Return-on-Tangible-Asset is 2.78 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Churchill Downs's current Return-on-Tangible-Asset is 8.21%, which is 21% below median its own 10-year median of 10.38. 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 Return-on-Tangible-Asset of 8.21%. The stock's GF Value™ is €134.46, compared to a current price of €73.50 — trading 45.3% below its estimated fair value. The current Return-on-Tangible-Asset is 8.21%, which is 21% below median its 10-year median of 10.38 and 195.3% above the Travel & Leisure industry median of 2.78. 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 Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For Churchill Downs (FRA:CHR), the current Return-on-Tangible-Asset is 8.21% 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 €73.50 is trading 45.3% below its estimated GF Value™ of €134.46.
Key valuation signals for FRA:CHR:
Return-on-Tangible-Asset: 8.21% (21% below median its 10-year median of 10.38)
GF Value™: €134.46 vs. price of €73.50 (45.3% below fair value)
Industry Position: 195.3% above the Travel & Leisure median (#146 of 853)
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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