CHDN
Churchill Downs Incorporated
CHDN has the edge over RIVN overall, supported by stronger valuation and lower modeled downside.
RIVN
Rivian Automotive, Inc.
RIVN's outlook is improving, though it still trails on the overall score.
CHDN Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| Healthy | |
| Weak |
CHDN's profitability and cash flow are currently healthy, and its revenue is stable, but its balance sheet is weak.
RIVN Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Weak | |
| Weak | |
| Unavailable |
RIVN's revenue is currently healthy, but its profitability and cash flow are weak. There isn't enough data to rate its balance sheet.
CHDN PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 14x | $99.62 | — |
| Current | 15x | $99.62 | — |
| Cheap | 17x | $107 | +7.6% |
| Fair | 22x | $143 | +44% |
| Expensive | 33x | $216 | +117% |
Historical ranges are pointers, not guarantees.
CHDN's PE is in its cheap range at 15x, but its recent earnings include one-off gains. If earnings grow as analysts expect, today's price would be 14x next year's earnings.
RIVN PE Valuation
RIVN has no meaningful PE right now: it lost money over the past year.
CHDN Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Stable | |
| Improving | |
| Limited | |
| High |
Analysts expect CHDN's earnings to grow and its profitability to improve, with its revenue holding steady.
RIVN Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
RIVN has the edge over CHDN on the outlook, with more favorable revenue expectations.
CHDN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $7.24 | +12% |
| Q3 2026 | $6.47 | +18% |
| Q2 2026 | $5.86 | +0.7% |
| Q1 2026 | $5.43 | -3.4% |
| Q4 2025 | $5.29 | -6.9% |
| Q3 2025 | $5.50 | -0.5% |
| Q2 2025 | $5.82 | +6.6% |
| Q1 2025 | $5.62 | +24% |
| Q4 2024 | $5.68 | +3.5% |
CHDN has the edge over RIVN on earnings quality, reporting a profit while its opponent remains loss making.
RIVN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$2.25 | +$0.83 |
| Q2 2026 | -$2.58 | +$0.62 |
| Q1 2026 | -$2.92 | +$0.77 |
| Q4 2025 | -$3.07 | +$1.62 |
| Q3 2025 | -$3.08 | +$2.52 |
| Q2 2025 | -$3.20 | +$2.76 |
| Q1 2025 | -$3.69 | +$2.08 |
| Q4 2024 | -$4.69 | +$1.05 |
RIVN is still losing money, but far less than before: $2.25 per share over the past year, against $7.40 at its worst in late 2022.
CHDN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $696M | +1.9% |
| Q2 2026 | $980M | +4.9% |
| Q1 2026 | $663M | +3.2% |
| Q4 2025 | $665.9M | +6.7% |
| Q3 2025 | $683M | +8.7% |
| Q2 2025 | $934.4M | +4.9% |
| Q1 2025 | $642.6M | +8.7% |
| Q4 2024 | $624.2M | +11% |
CHDN's revenue has grown year over year for 16 quarters in a row: $696M last quarter, up 1.9% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 21% | +6.2 points |
| Q2 2026 | 36% | +1.4 points |
| Q1 2026 | 22% | +0.6 points |
| Q4 2025 | 19% | -1.8 points |
| Q3 2025 | 14% | -5.7 points |
| Q2 2025 | 35% | -2 points |
| Q1 2025 | 21% | -0.4 points |
| Q4 2024 | 20% | +1.4 points |
CHDN has the edge over RIVN on profitability, with a higher operating margin.
RIVN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $2.2B | +38% |
| Q2 2026 | $1.7B | +27% |
| Q1 2026 | $1.4B | +11% |
| Q4 2025 | $1.3B | -26% |
| Q3 2025 | $1.6B | +78% |
| Q2 2025 | $1.3B | +13% |
| Q1 2025 | $1.2B | +3% |
| Q4 2024 | $1.7B | +32% |
RIVN's revenue is growing: $2.2B last quarter, up 38% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -41% | +22 points |
| Q2 2026 | -50% | +35 points |
| Q1 2026 | -64% | -11 points |
| Q4 2025 | -65% | -27 points |
| Q3 2025 | -63% | +71 points |
| Q2 2025 | -86% | +33 points |
| Q1 2025 | -53% | +70 points |
| Q4 2024 | -38% | +82 points |
RIVN's operating margin was −41% last quarter, up 22 points from the same quarter a year ago, near the top of its range since 2021.
CHDN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $129M | -22% |
| Q2 2026 | $198M | -10% |
| Q1 2026 | $276M | +18% |
| Q4 2025 | $78.7M | -19% |
| Q3 2025 | $166.3M | +7.7% |
| Q2 2025 | $220.7M | +13% |
| Q1 2025 | $233.9M | -3.5% |
| Q4 2024 | $96.8M | +19% |
CHDN has the edge over RIVN on cash generation, producing positive trailing cash flow while its opponent burns cash.
RIVN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$1.1B | -$703M |
| Q2 2026 | -$849M | -$451M |
| Q1 2026 | -$1.1B | -$549M |
| Q4 2025 | -$1.1B | -234% |
| Q3 2025 | -$421M | +$732M |
| Q2 2025 | -$398M | +$639M |
| Q1 2025 | -$526M | +$997M |
| Q4 2024 | $856M | +$2.3B |
RIVN has burned cash in almost every quarter: −$4.2B over the past year, against −$489M the year before.
CHDN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -- |
| 1 year | -1.4% | -1M shares |
| 3 years | -9.2% | -7.1M shares |
| 5 years | -11% | -8.4M shares |
| Available history | -14% | -11.2M shares |
CHDN has the edge over RIVN on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $44M |
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | $32M |
| Q3 2025 | $54.9M |
| Q2 2025 | $254.5M |
| Q1 2025 | $86.4M |
| Q4 2024 | $27.3M |
CHDN spent $76M buying back its own shares over the past year, down 82% from the year before.
RIVN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +9.1% | +121M shares |
| 1 year | +19% | +226M shares |
| 3 years | +52% | +494M shares |
RIVN has 1.4B diluted shares, up 19% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2021 | — |
| Q1 2021 | — |
| Q4 2020 | $6M |
| Q3 2020 | — |
| Q2 2020 | — |
| Q1 2020 | — |
CHDN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 4.6x | High |
| Q2 2026 | 4.8x | High |
| Q1 2026 | 5.1x | High |
| Q4 2025 | 5.4x | High |
| Q3 2025 | 5.4x | High |
| Q2 2025 | 5.2x | High |
| Q1 2025 | 5.1x | High |
| Q4 2024 | 5.2x | High |
CHDN's net debt is about 4.5 years of its operating earnings (EBITDA), down from 5.4 years a year ago.
RIVN Net Leverage
RIVN's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
CHDN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 62.8 | Neutral |
| Stochastic | 93.4 | Overbought |
CHDN's weekly RSI is 63 (neutral) and its Stochastic is 93 (overbought).
RIVN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 41.5 | Neutral |
| Stochastic | 25.6 | Neutral |
RIVN's weekly RSI is 41 (neutral) and its Stochastic is 26 (neutral).
CHDN PE vs Consumer Cyclical Sector
| Metric | CHDN | Sector median | Relative |
|---|---|---|---|
| PE | 15x | 18x | 15% below |
| PE % | 5 | 47 | 42 pts below |
CHDN is trading at 15x earnings, a 15% discount to the Consumer Cyclical sector's median of 18x, though its recent earnings include one-off gains.
RIVN PE vs Consumer Cyclical Sector
RIVN has no meaningful PE right now: it lost money over the past year.
CHDN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $86.7 | 15% above |
| 20 week MA | $87.0 | 15% above |
| 50 week MA | $92.0 | 8.3% above |
| 100 week MA | $99.2 | 0.5% above |
| 200 week MA | $114.2 | 13% below |
CHDN has the edge over RIVN on trend strength, trading above more of its moving averages.
RIVN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $13.3 | 3.9% below |
| 20 week MA | $15.1 | 15% below |
| 50 week MA | $15.9 | 19% below |
| 100 week MA | $14.7 | 13% below |
| 200 week MA | $15.1 | 15% below |
RIVN is in a downtrend: it's below all five of its weekly moving averages, and 15% below its 200-week average.
CHDN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $68.1 | $103.5 | +52% |
| 2021 | $103.5 | $118.2 | +14% |
| 2022 | $118.2 | $105.5 | -11% |
| 2023 | $105.5 | $134.9 | +28% |
| 2024 | $134.9 | $132.6 | -1.7% |
| 2025 | $132.6 | $114.5 | -14% |
| 2026 YTD | $114.5 | $99.6 | -13% |
CHDN has the edge over RIVN on returns for 2026, with the stronger performance.
RIVN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $130.0 | $96.8 | -25% |
| 2022 | $96.8 | $19.1 | -80% |
| 2023 | $19.1 | $23.5 | +23% |
| 2024 | $23.5 | $13.7 | -42% |
| 2025 | $13.7 | $20.9 | +53% |
| 2026 YTD | $20.9 | $12.8 | -39% |
RIVN has finished lower in three of the last five years. It's down 39% so far in 2026.