Churchill DownsXTER:CHR -0.66%62 Return-on-Tangible-Equity is Negative Tangible Equity% as of Mar. 2026. GuruFocus rates XTER:CHR with a GF Score™ of 62/100 and a GF Value™ of €137.17 (Possible Value Trap). The stock has 4 warning signs investors should review. Among 796 Travel & Leisure companies, Churchill Downs ranks better than 99.87% on this metric.
Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. Churchill Downs's annualized net income for the quarter that ended in Mar. 2026 was €287 Mil. Churchill Downs's average shareholder tangible equity for the quarter that ended in Mar. 2026 was €-2,031 Mil. Therefore, Churchill Downs's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was Negative Tangible Equity%.
The historical rank and industry rank for Churchill Downs's Return-on-Tangible-Equity or its related term are showing as below:
XTER:CHR'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 77.45 Med: 1472.87 Max: 2868.29
Current: Negative Tangible Equity
During the past 13 years, Churchill Downs's highest Return-on-Tangible-Equity was 2,868.29%. The lowest was 77.45%. And the median was 1,472.87%.
XTER:CHR's Return-on-Tangible-Equity is ranked better than 99.87% of 796
companies
in the Travel & Leisure industry
Industry Median: 7.57
vs XTER:CHR: Negative Tangible Equity
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
Churchill Downs Return-on-Tangible-Equity Related Terms
Churchill Downs Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Churchill Downs's Return-on-Tangible-Equity 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.
XTER:CHR vs : Return-on-Tangible-Equity Comparison
For the Gambling subindustry, Churchill Downs's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity 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-Equity vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Churchill Downs's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Churchill Downs's Return-on-Tangible-Equity 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-Equity, the net income of the last fiscal year and the average total shareholder tangible equity 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.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of Negative Tangible Equity% mean?
Churchill Downs (XTER:CHR) has a Return-on-Tangible-Equity of Negative Tangible Equity% as of Mar. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Churchill Downs and its competitors. Over the past decade, Churchill Downs' Return-on-Tangible-Equity has ranged from 77.45 to 2,868.29. According to the industry distribution chart, Churchill Downs ranks #1 out of 796 companies in the Travel & Leisure industry, placing it in the top 0.099999999999994%.
Is Churchill Downs' Return-on-Tangible-Equity too high?
Churchill Downs' current Return-on-Tangible-Equity is Negative Tangible Equity%. Over the past 10 years, this metric has ranged from a low of 77.45 to a high of 2,868.29. Based on the distribution chart, Churchill Downs ranks #1 out of 796 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 62/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Churchill Downs' Return-on-Tangible-Equity compare to ?
According to the Travel & Leisure industry distribution chart, Churchill Downs ranks #1 out of 796 companies for Return-on-Tangible-Equity. This places Churchill Downs in the top 0% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 7.57. Historically, Churchill Downs' own Return-on-Tangible-Equity has ranged from 77.45 to 2,868.29 over the past decade. 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-Equity for a Travel & Leisure company?
The median Return-on-Tangible-Equity among Travel & Leisure companies is 7.57, based on 796 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Equity significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Equity 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 Return-on-Tangible-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Churchill Downs and its competitors. For the Travel & Leisure industry, the median Return-on-Tangible-Equity is 7.57 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Churchill Downs's current Return-on-Tangible-Equity is Negative Tangible Equity%. 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 (XTER:CHR) is currently considered Possible Value Trap. The stock's GF Value™ is €137.17, compared to a current price of €75.50 — trading 45% below its estimated fair value. The current Return-on-Tangible-Equity is Negative Tangible Equity%. Churchill Downs' overall GF Score™ is 62/100 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-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For Churchill Downs (XTER:CHR), the current Return-on-Tangible-Equity is Negative Tangible Equity% 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 (XTER:CHR) Overvalued in 2026?
Based on GuruFocus' analysis, Churchill Downs stock appears to be undervalued.
The current stock price of €75.50 is trading 45% below its estimated GF Value™ of €137.17.
GuruFocus considers Churchill Downs to be Possible Value Trap.
No single metric tells the full story. See the XTER: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.
62GF Score
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