Churchill DownsFRA:CHR +2.61%82 3-Year ROIIC % is 20.02 as of Dec. 2025, which is 202% above its 10-year median of 6.62. GuruFocus rates FRA:CHR with a GF Score™ of 82/100 and a GF Value™ of €134.86. The stock has 4 warning signs investors should review. Among 793 Travel & Leisure companies, Churchill Downs ranks better than 70.74% on this metric.
3-Year Return on Invested Incremental Capital (3-Year ROIIC %) measures the change in earnings as a percentage of change in investment over 3-year.
Churchill Downs's 3-Year ROIIC % for the quarter that ended in Dec. 2025 was 20.02%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for Churchill Downs's 3-Year ROIIC % or its related term are showing as below:
FRA:CHR's 3-Year ROIIC % is ranked better than 70.74% of 793
companies
in the Travel & Leisure industry
Industry Median: 4.37
vs FRA:CHR: 20.02
Return on Incremental Invested Capital (ROIIC) is an extension of Return on Investment Capital (ROIC). ROIC % tells investors how efficiently that profitability is earned per dollar of company capital. ROIIC narrows the focus even further and shows how profitable each additional unit of capital investment could be. ROIIC % is a more powerful metric than ROIC because it measures how much money the company can generate going forward on future capital investments.
High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
Be Aware
It's important to keep in mind that when tracking ROIIC, the metric is better suited to forecasting the trend of future returns rather than measuring current return on investment.
Churchill Downs 3-Year ROIIC % Related Terms
Churchill Downs 3-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for Churchill Downs's 3-Year ROIIC % 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: 3-Year ROIIC % Comparison
For the Gambling subindustry, Churchill Downs's 3-Year ROIIC %, along with its competitors' market caps and 3-Year ROIIC % 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 3-Year ROIIC % vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Churchill Downs's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Churchill Downs's 3-Year ROIIC % 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.
** Annual data of NOPAT and Invested Capital was used to calculate 3-Year ROIIC %.
*** Please be aware that the ROIIC (Return on Invested Capital) calculations are based on company-level data using the primary share class. The calculated data provided is for demonstration purposes and may slightly differ from the results displayed in the title due to potential variations caused by currency exchange rate differences throughout the year.
Churchill Downs (FRA:CHR) has a 3-Year ROIIC % of 20.02 as of Dec. 2025. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Churchill Downs and its competitors. This is 202% above median its historical median of 6.62. According to the industry distribution chart, Churchill Downs ranks #232 out of 793 companies in the Travel & Leisure industry, placing it in the top 29.3%.
Is Churchill Downs' 3-Year ROIIC % too high?
Churchill Downs' current 3-Year ROIIC % of 20.02 is 202% above median its 10-year median of 6.62. The Travel & Leisure industry median 3-Year ROIIC % is 4.37. Churchill Downs' value of 20.02 is 358.1% above this industry median. Based on the distribution chart, Churchill Downs ranks #232 out of 793 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' 3-Year ROIIC % compare to LNWO and SGHC?
According to the Travel & Leisure industry distribution chart, Churchill Downs ranks #232 out of 793 companies for 3-Year ROIIC %. This puts Churchill Downs in the upper half of its industry. The industry median 3-Year ROIIC % is 4.37. Churchill Downs' value of 20.02 is 358.1% above this benchmark. While the company's 10-year median is 6.62 vs. the industry median of 4.37, 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 3-Year ROIIC % for a Travel & Leisure company?
The median 3-Year ROIIC % among Travel & Leisure companies is 4.37, based on 793 companies in the industry. Companies in the top quartile (top 25%) have a 3-Year ROIIC % significantly above this median, while those in the bottom quartile fall well below. However, 3-Year ROIIC % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Churchill Downs's current 3-Year ROIIC % of 20.02 is 358.1% 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 3-Year ROIIC % mean?
A high 3-Year ROIIC % can signal that a stock is expensive relative to its fundamentals. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Churchill Downs and its competitors. For the Travel & Leisure industry, the median 3-Year ROIIC % is 4.37 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Churchill Downs's current 3-Year ROIIC % is 20.02, which is 202% above median its own 10-year median of 6.62. 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 3-Year ROIIC % of 20.02. The stock's GF Value™ is €134.86, compared to a current price of €78.50 — trading 41.8% below its estimated fair value. The current 3-Year ROIIC % is 20.02, which is 202% above median its 10-year median of 6.62 and 358.1% above the Travel & Leisure industry median of 4.37. 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 3-Year ROIIC % calculated?
3-Year ROIIC % is calculated from a company's financial statements. For Churchill Downs (FRA:CHR), the current 3-Year ROIIC % is 20.02 as of Dec. 2025. 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 €78.50 is trading 41.8% below its estimated GF Value™ of €134.86.
Key valuation signals for FRA:CHR:
3-Year ROIIC %: 20.02 (202% above median its 10-year median of 6.62)
GF Value™: €134.86 vs. price of €78.50 (41.8% below fair value)
Industry Position: 358.1% above the Travel & Leisure median (#232 of 793)
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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