Brightstar Lottery vs Churchill Downs
Churchill Downs is the larger business, with $2.93bn of revenue in fiscal 2025 against $2.51bn for Brightstar Lottery (1.2 times as much). Churchill Downs grew faster (7.0% against -0.0%). Churchill Downs kept more of each dollar of sales as profit: a net margin of 13.1% against 5.9%.
| Latest fiscal year | Brightstar LotteryBRSL, 2025 | Churchill DownsCHDN, 2025 |
|---|---|---|
| Revenue | $2.51bn | $2.93bn |
| Revenue growth | -0.0% | 7.0% |
| Net income | $147m | $383m |
| Operating margin | — | — |
| Net margin | 5.9% | 13.1% |
| Return on equity | 11.6% | 36.6% |
| Free cash flow | −$415m | $565m |
| Cash | $1.45bn | $201m |
| Total debt | $4.20bn | $5.16bn |
| Debt to equity | — | — |
| Dividend per share | — | $0.44 |
| Dividend yield | 41.1% | 0.5% |
| Share buybacks | $271m | $428m |
| Employees | — | 9,000 |
| Market value | $1.83bn | $6.80bn |
| Price vs our value range | — | Within our value range |
| Moat score | — | 66 (Moderate) |
| Insider trades, 12 months | 0 buys, 0 sales | 0 buys, 0 sales |