WallStSmart

Churchill Downs Incorporated (CHDN)vsSGHC Limited (SGHC)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Churchill Downs Incorporated generates 27% more annual revenue ($2.95B vs $2.33B). CHDN leads profitability with a 13.2% profit margin vs 10.5%. CHDN trades at a lower P/E of 16.0x. CHDN earns a higher WallStSmart Score of 61/100 (C+).

CHDN

Buy

61

out of 100

Grade: C+

Growth: 6.0Profit: 7.5Value: 7.3Quality: 3.5
Piotroski: 4/9Altman Z: 1.00

SGHC

Buy

58

out of 100

Grade: C

Growth: 8.7Profit: 8.5Value: 5.3Quality: 6.8
Piotroski: 4/9
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

CHDNUndervalued (+71.6%)

Margin of Safety

+71.6%

Fair Value

$333.65

Current Price

$86.92

$246.73 discount

UndervaluedFair: $333.65Overvalued

Intrinsic value data unavailable for SGHC.

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

CHDN3 strengths · Avg: 8.7/10
Return on EquityProfitability
35.2%10/10

Every $100 of equity generates 35 in profit

P/E RatioValuation
16.0x8/10

Attractively priced relative to earnings

Operating MarginProfitability
21.7%8/10

Strong operational efficiency at 21.7%

SGHC5 strengths · Avg: 8.6/10
Return on EquityProfitability
31.8%10/10

Every $100 of equity generates 32 in profit

Debt/EquityHealth
0.149/10

Conservative balance sheet, low leverage

Operating MarginProfitability
20.1%8/10

Strong operational efficiency at 20.1%

Revenue GrowthGrowth
18.4%8/10

18.4% revenue growth

EPS GrowthGrowth
46.1%8/10

Earnings expanding 46.1% YoY

Areas to Watch

CHDN4 concerns · Avg: 2.8/10
PEG RatioValuation
1.694/10

Expensive relative to growth rate

Revenue GrowthGrowth
3.1%4/10

3.1% revenue growth

Altman Z-ScoreHealth
1.002/10

Distress zone — elevated risk

Debt/EquityHealth
4.501/10

Elevated debt levels

SGHC2 concerns · Avg: 4.0/10
P/E RatioValuation
28.1x4/10

Moderate valuation

Price/BookValuation
9.1x4/10

Trading at 9.1x book value

Comparative Analysis Report

WallStSmart Research

Bull Case : CHDN

The strongest argument for CHDN centers on Return on Equity, P/E Ratio, Operating Margin.

Bull Case : SGHC

The strongest argument for SGHC centers on Return on Equity, Debt/Equity, Operating Margin. Revenue growth of 18.4% demonstrates continued momentum.

Bear Case : CHDN

The primary concerns for CHDN are PEG Ratio, Revenue Growth, Altman Z-Score. Debt-to-equity of 4.50 is elevated, increasing financial risk.

Bear Case : SGHC

The primary concerns for SGHC are P/E Ratio, Price/Book.

Key Dynamics to Monitor

CHDN profiles as a value stock while SGHC is a growth play — different risk/reward profiles.

SGHC carries more volatility with a beta of 1.10 — expect wider price swings.

SGHC is growing revenue faster at 18.4% — sustainability is the question.

CHDN generates stronger free cash flow (236M), providing more financial flexibility.

Bottom Line

CHDN scores higher overall (61/100 vs 58/100). Both earn "Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Churchill Downs Incorporated

CONSUMER CYCLICAL · GAMBLING · USA

Churchill Downs Incorporated is a gaming, online betting and racing entertainment company in the United States. The company is headquartered in Louisville, Kentucky.

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SGHC Limited

CONSUMER CYCLICAL · GAMBLING · USA

Super Group (SGHC) Limited is an online sports betting and gaming operator. The company is headquartered in Saint Peter Port, Guernsey.

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