Churchill Downs Incorporated (CHDN) exhibits 45.0% gross margins and 9.2% return on invested capital within Consumer Discretionary (Services-Misc. Amusement & Recreation), balanced against a 14.0x enterprise multiple and 4.8% implied options volatility.
Sustained 45.0% gross profitability converts into 23.4% operating margin and 9.2% ROIC, outpacing sector cost of capital.
ROIC: 9.2% // GM: 45.0%YoY revenue trajectory of +7.0% paired with 4.88% free cash flow yield supports self-funded R&D and capital return.
REV YOY: +7.0% // FCF YLD: 4.88%Altman Z-Score of 1.42 and Piotroski F-Score of 6/9 indicate low near-term refinancing stress.
ALTMAN Z: 1.42 // F-SCORE: 6/9Trading at 16.3x trailing P/E (15.2x Fwd P/E) leaves valuation vulnerable if real 10Y TIPS yields spike.
P/E: 16.3x // EV/EBITDA: 14.0xOptions market prices a ±5.2% implied move with a 0.85 put/call ratio around $94.83 max pain.
IMPL MOVE: ±5.2% // P/C: 0.85Elevated industry capital intensity and customer concentration in Services-Misc. Amusement & Recreation require continuous execution to defend 13.1% net margins.
NET MARGIN: 13.1% // D/E: 5.02x| FILER | SIDE | $ VALUE |
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| INSPECT FULL OWNERSHIP LEDGER IN OWN <GO> | ||
| STRIKE / EXP | TYPE | PREMIUM |
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| INSPECT GEX & CHAIN IN OPT <GO> | ||
Unblur the exact $50,000 delta-adjusted ETF/options hedge ratio for CHDN & activate live FRED threshold breach alerts.