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Churchill Downs Incorporated(CHDN)Earnings, Financials & Key Ratios
CHDN•NASDAQ
16.6× P/E·Price updated Jun 19, 2026
AboutChurchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. It operates through three segments: Live and Historical Racing, TwinSpires, and Gaming. As of December 31, 2021, the company owned and operated three pari-mutuel gaming entertainment venues with approximately 3,050 historical racing machines (HRMs) in Kentucky; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; nine retail sportsbooks; and casino gaming in eight states with approximately 11,000 slot machines and video lottery terminals, and 200 table games. It also offers streaming video of live horse races, replays, and an assortment of racing and handicapping information; and provides the Bloodstock Research Information Services platform for horse racing statistical data. In addition, the company manufactures and operates pari-mutuel wagering systems for racetracks, off-track betting facilities, and other pari-mutuel wagering businesses. Churchill Downs Incorporated was founded in 1875 and is headquartered in Louisville, Kentucky.Show more
- Revenue$2.93B+7.0%
- EBITDA$976M+6.8%
- Net Income$380M-11.0%
- EPS (Diluted)5.32-6.3%
- Gross Margin33.58%-2.2%
- EBITDA Margin33.35%-0.2%
- Operating Margin25.17%-2.9%
- Net Margin12.98%-16.9%
- ROE35.17%-17.7%
CHDN Key Insights
Churchill Downs Incorporated (CHDN) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Excellent 3Y average ROE of 45.2%
- ✓FCF machine: 16.9% free cash flow margin
- ✓15 consecutive years of dividend growth
- ✓High quality earnings: Operating CF exceeds net income
- ✓Strong 5Y sales CAGR of 22.7%
- ✓Share count reduced 4.3% through buybacks
✗Weaknesses
- ✗High debt to equity ratio of 4.9x
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
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CHDN Price & Volume
Churchill Downs Incorporated (CHDN) stock price & volume — 10-year historical chart
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CHDN Growth Metrics
Churchill Downs Incorporated (CHDN) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years9.21%
5 Years22.65%
3 Years17.37%
TTM5.75%
Profit CAGR
10 Years19.27%
5 Years-
3 Years-4.75%
TTM-8.17%
EPS CAGR
10 Years23.98%
5 Years99.11%
3 Years-2.33%
TTM-3.91%
Return on Capital
10 Years9.61%
5 Years10.28%
3 Years10.59%
Last Year11.08%
CHDN Recent Earnings
Churchill Downs Incorporated (CHDN) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 9/12 qtrs (75%)●Beat Revenue 8/12 qtrs (67%)
Q2 2026Latest
Apr 22, 2026Metric
Actual
Est
EPS
$1.21+14.2%
$1.06
Rev
$663M+0.3%
$661M
Q1 2026
Feb 25, 2026Metric
Actual
Est
EPS
$0.97+14.1%
$0.85
Rev
$666M+0.9%
$660M
Q4 2025
Oct 22, 2025Metric
Actual
Est
EPS
$1.09+12.4%
$0.97
Rev
$683M+4.1%
$656M
Q3 2025
Jul 23, 2025Metric
Actual
Est
EPS
$3.10+2.3%
$3.03
Rev
$934M+39.9%
$668M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 22, 2026 | $1.21vs $1.06+14.2% | $663Mvs $661M+0.3% |
| Q1 2026 | Feb 25, 2026 | $0.97vs $0.85+14.1% | $666Mvs $660M+0.9% |
| Q4 2025 | Oct 22, 2025 | $1.09vs $0.97+12.4% | $683Mvs $656M+4.1% |
| Q3 2025 | Jul 23, 2025 | $3.10vs $3.03+2.3% | $934Mvs $668M+39.9% |
Based on last 12 quarters of dataView full earnings history →
CHDN Peer Comparison
Churchill Downs Incorporated (CHDN) competitors in Lotteries and Pari-Mutuel Gaming — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 PENN | 2.84B | 21.30 | -3.65 | 5.82% | -12.11% | -34.66% | 4.58 | |
 BYD | 6.38B | 84.68 | 3.75 | 4.12% | 45.02% | 91.81% | 1.25 | |
 RRR | 3.63B | 61.33 | 19.66 | 3.74% | 9.35% | 56.57% | 0.18 | |
 DKNG | 13.08B | 26.39 | -3258.02 | 26.99% | 0.93% | 7.88% | 3.06 | |
 CZR | 5.95B | 29.22 | -12.07 | 2.14% | -4.19% | -12.62% | 7.15 | |
 MGM | 11.98B | 46.84 | 61.63 | 1.72% | 1.03% | 5.3% | 17.14 | |
 FLUT | 17.72B | 101.83 | -58.86 | 16.62% | -2.68% | -4.36% | 1.38 | |
 RSI | 3.11B | 29.09 | 207.79 | 22.76% | 2.98% | 12.91% | 0.06 |
Compare CHDN vs Peers
Churchill Downs Incorporated (CHDN) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
CHDN Income Statement
Churchill Downs Incorporated (CHDN) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Sales/Revenue | 882.6M | 1.01B | 1.33B | 1.05B | 1.6B | 1.81B | 2.46B | 2.73B | 2.93B | 2.95B |
Revenue Growth % | -32.55% | 14.32% | 31.78% | -20.73% | 51.54% | 13.31% | 36.02% | 11.07% | 7.01% | 5.75% |
Cost of Goods Sold | 629.8M | 719.4M | 986.7M | 860.5M | 1.15B | 1.24B | 1.67B | 1.8B | 1.94B | 1.95B |
COGS % of Revenue | 71.36% | 71.3% | 74.2% | 81.64% | 72.07% | 68.7% | 67.68% | 65.68% | 66.42% | - |
Gross Profit | 252.8M▲ 0% | 289.6M▲ 14.6% | 343M▲ 18.4% | 193.5M▼ 43.6% | 446.1M▲ 130.5% | 566.4M▲ 27.0% | 795.7M▲ 40.5% | 938.5M▲ 17.9% | 982.6M▲ 4.7% | 996.1M▲ 0% |
Gross Margin % | 28.64% | 28.7% | 25.8% | 18.36% | 27.93% | 31.3% | 32.32% | 34.32% | 33.58% | 33.81% |
Gross Profit Growth % | -19.9% | 14.56% | 18.44% | -43.59% | 130.54% | 26.97% | 40.48% | 17.95% | 4.7% | - |
Operating Expenses | 83.9M | 90.5M | 127.3M | 133.3M | 161.7M | 244.6M | 231.7M | 229.5M | 246.2M | 301.2M |
OpEx % of Revenue | 9.51% | 8.97% | 9.57% | 12.65% | 10.12% | 13.52% | 9.41% | 8.39% | 8.41% | - |
Selling, General & Admin | 83.1M | 90.5M | 122M | 114.8M | 138.5M | 164.2M | 202.3M | 237.7M | 246.2M | 250.7M |
SG&A % of Revenue | 9.42% | 8.97% | 9.18% | 10.89% | 8.67% | 9.07% | 8.22% | 8.69% | 8.41% | - |
Research & Development | 17.5M | 7.3M | 0 | 0 | 0 | 0 | 11.2M | 0 | 0 | 0 |
R&D % of Revenue | 1.98% | 0.72% | - | - | - | - | 0.46% | - | - | - |
Other Operating Expenses | -200K | 700K | 5.3M | 18.5M | 23.2M | 80.4M | 18.2M | -8.2M | 0 | 2M |
Operating Income | 145.7M▲ 0% | 188.8M▲ 29.6% | 215.7M▲ 14.2% | 60.2M▼ 72.1% | 284.4M▲ 372.4% | 321.8M▲ 13.2% | 564M▲ 75.3% | 709M▲ 25.7% | 736.4M▲ 3.9% | 694.9M▲ 0% |
Operating Margin % | 16.51% | 18.71% | 16.22% | 5.71% | 17.81% | 17.78% | 22.91% | 25.93% | 25.17% | 23.59% |
Operating Income Growth % | -24.97% | 29.58% | 14.25% | -72.09% | 372.43% | 13.15% | 75.26% | 25.71% | 3.86% | - |
EBITDA | 219.1M | 252.8M | 316.7M | 158.1M | 392.9M | 440.8M | 739.2M | 913.7M | 975.9M | 931.6M |
EBITDA Margin % | 24.82% | 25.05% | 23.82% | 15% | 24.6% | 24.36% | 30.03% | 33.42% | 33.35% | 31.62% |
EBITDA Growth % | -18.82% | 15.38% | 25.28% | -50.08% | 148.51% | 12.19% | 67.7% | 23.61% | 6.81% | 1.26% |
D&A (Non-Cash Add-back) | 73.4M | 64M | 101M | 97.9M | 108.5M | 119M | 175.2M | 204.7M | 239.5M | 236.7M |
EBIT | 151.8M | 274M | 267.3M | 88M | 428.3M | 756.1M | 830.2M | 863M | 830.1M | 805.9M |
Net Interest Income | -49.3M | -40.1M | -70.9M | -80M | -84.7M | -147.3M | -268.4M | -289.8M | -297.7M | -297.4M |
Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Interest Expense | 49.3M | 40.1M | 70.9M | 80M | 84.7M | 147.3M | 268.4M | 289.8M | 297.7M | 153.4M |
Other Income/Expense | -43.2M | 45.1M | -19.3M | -52.2M | 59.2M | 287M | -2.2M | -135.8M | -204M | -145.4M |
Pretax Income | 102.5M▲ 0% | 233.9M▲ 128.2% | 196.4M▼ 16.0% | 8M▼ 95.9% | 343.6M▲ 4195.0% | 608.8M▲ 77.2% | 561.8M▼ 7.7% | 573.2M▲ 2.0% | 532.4M▼ 7.1% | 549.5M▲ 0% |
Pretax Margin % | 11.61% | 23.18% | 14.77% | 0.76% | 21.51% | 33.64% | 22.82% | 20.96% | 18.2% | 18.65% |
Income Tax | -19.9M | 51.3M | 56.8M | -5.3M | 94.5M | 169.4M | 144.5M | 144.1M | 146.9M | 98.2M |
Effective Tax Rate % | -19.41% | 21.93% | 28.92% | -66.25% | 27.5% | 27.83% | 25.72% | 25.14% | 27.59% | 17.87% |
Net Income | 140.5M▲ 0% | 352.8M▲ 151.1% | 137.5M▼ 61.0% | -81.9M▼ 159.6% | 249.1M▲ 404.2% | 439.4M▲ 76.4% | 417.3M▼ 5.0% | 426.8M▲ 2.3% | 379.7M▼ 11.0% | 387.6M▲ 0% |
Net Margin % | 15.92% | 34.97% | 10.34% | -7.77% | 15.6% | 24.28% | 16.95% | 15.61% | 12.98% | 13.16% |
Net Income Growth % | 29.97% | 151.1% | -61.03% | -159.56% | 404.15% | 76.39% | -5.03% | 2.28% | -11.04% | -8.17% |
Net Income (Continuing) | 122.4M | 182.6M | 139.6M | 13.3M | 249.1M | 439.4M | 417.3M | 429.1M | 385.5M | 391.3M |
Discontinued Operations | 18.1M | 170.2M | -2.4M | -95.4M | 0 | 0 | 0 | 0 | 0 | 0 |
Minority Interest | 0 | 0 | 2.7M | 0 | 0 | 0 | 0 | 19.7M | 46.1M | 48M |
EPS (Diluted) | 1.46▲ 0% | 4.24▲ 190.4% | 1.69▼ 60.1% | 0.17▼ 89.9% | 3.18▲ 1770.6% | 5.71▲ 79.6% | 5.48▼ 4.0% | 5.68▲ 3.6% | 5.32▼ 6.3% | 5.54▲ 0% |
EPS Growth % | 36.45% | 190.41% | -60.14% | -89.94% | 1770.59% | 79.56% | -4.03% | 3.65% | -6.34% | -3.91% |
EPS (Basic) | 1.49 | 4.27 | 1.71 | 0.17 | 3.23 | 5.80 | 5.55 | 5.73 | 5.36 | - |
Diluted Shares Outstanding | 96M | 83.2M | 81.2M | 79.2M | 78.4M | 77M | 76.1M | 74.6M | 71.4M | 70M |
Basic Shares Outstanding | 94.2M | 82.6M | 80.2M | 79.2M | 77.2M | 75.8M | 75.2M | 74M | 70.85M | 70M |
Dividend Payout Ratio | 15.3% | 6.72% | 16.15% | - | 9.96% | 5.92% | 6.49% | 6.84% | 8.11% | - |
CHDN Balance Sheet
Churchill Downs Incorporated (CHDN) balance sheet — assets, liabilities & shareholders' equity
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Total Current Assets | 256.1M | 241.5M | 221.2M | 235.1M | 501.5M | 344.5M | 400.8M | 412.3M | 443.2M | 452M |
Cash & Short-Term Investments | 51.7M | 133.3M | 96.2M | 67.4M | 291.3M | 129.8M | 144.5M | 175.5M | 288.5M | 200M |
Cash Only | 51.7M | 133.3M | 96.2M | 67.4M | 291.3M | 129.8M | 144.5M | 175.5M | 288.5M | 200M |
Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Accounts Receivable | 85.2M | 45.8M | 51.8M | 85.9M | 108.3M | 95.5M | 119.5M | 113.2M | 110.5M | 99M |
Days Sales Outstanding | 35.23 | 16.57 | 14.22 | 29.75 | 24.75 | 19.26 | 17.72 | 15.11 | 13.78 | 12.93 |
Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 17.2M | 11.6M | 0 | 0 |
Days Inventory Outstanding | - | - | - | - | - | - | 3.77 | 2.36 | - | 0.59 |
Other Current Assets | 119.2M | 62.4M | 73.2M | 81.8M | 101.9M | 119.2M | 86.2M | 81.9M | 44.2M | 153M |
Total Non-Current Assets | 2.1B | 1.48B | 2.33B | 2.45B | 2.48B | 5.86B | 6.55B | 6.86B | 7.04B | 7.03B |
Property, Plant & Equipment | 608M | 757.5M | 937.3M | 1.08B | 994.9M | 1.98B | 2.56B | 2.87B | 314.5M | 2.91B |
Fixed Asset Turnover | 1.45x | 1.33x | 1.42x | 0.97x | 1.61x | 0.91x | 0.96x | 0.95x | 9.30x | 1.30x |
Goodwill | 317.6M | 338M | 367.1M | 366.8M | 366.8M | 723.8M | 899.9M | 900.2M | 900.2M | 900M |
Intangible Assets | 169.4M | 264M | 369.8M | 350.6M | 348.1M | 2.39B | 2.42B | 2.41B | 2.52B | 2.52B |
Long-Term Investments | 171.3M | 108.1M | 634.5M | 630.6M | 663.6M | 659.4M | 655.9M | 661.2M | 684.6M | 2.71B |
Other Non-Current Assets | 837M | 16.1M | 21.1M | 21.2M | 106.7M | 109M | 19.3M | 18.3M | 2.63B | 22M |
Total Assets | 2.36B▲ 0% | 1.73B▼ 26.9% | 2.55B▲ 47.9% | 2.69B▲ 5.3% | 2.98B▲ 11.0% | 6.21B▲ 108.2% | 6.96B▲ 12.1% | 7.28B▲ 4.6% | 7.48B▲ 2.9% | 7.49B▲ 0% |
Asset Turnover | 0.37x | 0.58x | 0.52x | 0.39x | 0.54x | 0.29x | 0.35x | 0.38x | 0.39x | 0.40x |
Asset Growth % | 4.66% | -26.88% | 47.87% | 5.31% | 10.99% | 108.17% | 12.06% | 4.61% | 2.87% | 11.55% |
Total Current Liabilities | 453.2M | 256.6M | 301.2M | 424.2M | 395M | 621.6M | 755.8M | 729.3M | 733.3M | 836M |
Accounts Payable | 54.1M | 47M | 57.8M | 70.7M | 81.6M | 145.5M | 158.5M | 180.3M | 184.3M | 218M |
Days Payables Outstanding | 31.35 | 23.85 | 21.38 | 29.99 | 25.87 | 42.71 | 34.73 | 36.65 | 34.62 | 38.71 |
Short-Term Debt | 4M | 4M | 4M | 4M | 7M | 47M | 68M | 63.1M | 71.5M | 63M |
Deferred Revenue (Current) | 94.9M | 47.9M | 42.5M | 32.8M | 47.7M | 39M | 73.2M | 52.9M | 0 | 203.3M |
Other Current Liabilities | 188.2M | 83.9M | 104.6M | 234.5M | 122.2M | 163.8M | 149.9M | 151.2M | 446.8M | 397M |
Current Ratio | 0.57x | 0.94x | 0.73x | 0.55x | 1.27x | 0.55x | 0.53x | 0.57x | 0.60x | 0.54x |
Quick Ratio | 0.57x | 0.94x | 0.73x | 0.55x | 1.27x | 0.55x | 0.51x | 0.55x | 0.60x | 0.54x |
Cash Conversion Cycle | - | - | - | - | - | - | -13.24 | -19.18 | - | -25.19 |
Total Non-Current Liabilities | 1.27B | 995.3M | 1.74B | 1.9B | 2.28B | 5.03B | 5.31B | 5.44B | 5.7B | 5.5B |
Long-Term Debt | 1.13B | 880.3M | 1.47B | 1.62B | 1.96B | 4.56B | 4.77B | 4.84B | 5.07B | 4.87B |
Capital Lease Obligations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 58.4M | 58.4M |
Deferred Tax Liabilities | 40.6M | 78.2M | 212.8M | 213.9M | 252.9M | 340.8M | 388.2M | 432.7M | 519.9M | 1.99B |
Other Non-Current Liabilities | 70.8M | 15.7M | 39.4M | 45.8M | 52.6M | 122.4M | 137.8M | 146.5M | 34.6M | 101M |
Total Liabilities | 1.72B | 1.25B | 2.04B | 2.32B | 2.67B | 5.66B | 6.06B | 6.17B | 6.43B | 6.34B |
Total Debt | 1.13B | 884.3M | 1.47B | 1.62B | 1.97B | 4.61B | 4.84B | 4.92B | 5.2B | 4.93B |
Net Debt | 1.08B | 751M | 1.38B | 1.55B | 1.68B | 4.48B | 4.7B | 4.74B | 4.91B | 4.73B |
Debt / Equity | 1.76x | 1.87x | 2.88x | 4.42x | 6.41x | 8.35x | 5.42x | 4.46x | 4.92x | 4.31x |
Debt / EBITDA | 5.15x | 3.50x | 4.65x | 10.26x | 5.01x | 10.45x | 6.55x | 5.38x | 5.33x | 5.29x |
Net Debt / EBITDA | 4.92x | 2.97x | 4.35x | 9.83x | 4.27x | 10.15x | 6.36x | 5.19x | 5.03x | 5.08x |
Interest Coverage | 3.08x | 6.83x | 3.77x | 1.10x | 5.06x | 5.13x | 3.09x | 2.98x | 2.79x | 5.25x |
Total Equity | 640.3M▲ 0% | 473.3M▼ 26.1% | 511M▲ 8.0% | 367.1M▼ 28.2% | 306.8M▼ 16.4% | 551.5M▲ 79.8% | 893.6M▲ 62.0% | 1.1B▲ 23.5% | 1.06B▼ 4.3% | 1.14B▲ 0% |
Equity Growth % | -6.53% | -26.08% | 7.97% | -28.16% | -16.43% | 79.76% | 62.03% | 23.47% | -4.31% | -1.23% |
Book Value per Share | 6.67 | 5.69 | 6.29 | 4.64 | 3.91 | 7.16 | 11.74 | 14.79 | 14.79 | 16.34 |
Total Shareholders' Equity | 640.3M | 473.3M | 508.3M | 367.1M | 306.8M | 551.5M | 893.6M | 1.08B | 1.01B | 1.1B |
Common Stock | 7.3M | 0 | 0 | 18.2M | 0 | 0 | 0 | 0 | 0 | 3M |
Retained Earnings | 634.3M | 474.2M | 509.2M | 349.8M | 307.7M | 552.4M | 894.5M | 1.08B | 1.01B | 1.09B |
Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Accumulated OCI | -1.3M | -900K | -900K | -900K | -900K | -900K | -900K | -1M | -1M | -1M |
Minority Interest | 0 | 0 | 2.7M | 0 | 0 | 0 | 0 | 19.7M | 46.1M | 48M |
CHDN Cash Flow Statement
Churchill Downs Incorporated (CHDN) cash flow — operating, investing & free cash flow history
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operations | 218.2M | 197.8M | 289.6M | 141.9M | 335.5M | 536.8M | 605.8M | 772.7M | 769.8M | 818.3M |
Operating CF Margin % | 24.72% | 19.6% | 21.78% | 13.46% | 21.01% | 29.66% | 24.61% | 28.26% | 26.31% | - |
Operating CF Growth % | -3.79% | -9.35% | 46.41% | -51% | 136.43% | 60% | 12.85% | 27.55% | -0.38% | 13.89% |
Net Income | 140.5M | 352.8M | 137.2M | -82.1M | 249.1M | 439.4M | 417.3M | 429.1M | 385.5M | 387.6M |
Depreciation & Amortization | 114.6M | 64M | 101M | 97.9M | 108.5M | 119M | 175.2M | 204.7M | 239.5M | 236.7M |
Stock-Based Compensation | 27.1M | 21.1M | 23.8M | 23.7M | 27.8M | 31.8M | 32.9M | 36.1M | 30.2M | 31.6M |
Deferred Taxes | -65M | 36.5M | 31.5M | 1.1M | 9.8M | 108.7M | 47.4M | 44.5M | 86.8M | 105.8M |
Other Non-Cash Items | 38.2M | -285.8M | -9.7M | 25M | -137.2M | -198.7M | -74.7M | 8.4M | 32.9M | -118.5M |
Working Capital Changes | -37.2M | 9.2M | 5.8M | 76.3M | 77.5M | 36.6M | 7.7M | 49.9M | -5.1M | 171.4M |
Change in Receivables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Change in Payables | 0 | 0 | 0 | 0 | 0 | 50.6M | 0 | 0 | 0 | 0 |
Cash from Investing | -153.6M | 824.1M | -781.2M | -239.4M | -100.4M | -3.1B | -718M | -545.2M | -471.5M | -452.4M |
Capital Expenditures | -116.9M | -149.4M | -163.3M | -234.2M | -91.8M | -456.8M | -676.5M | 0 | 0 | -84.7M |
CapEx % of Revenue | 13.25% | 14.81% | 12.28% | 22.22% | 5.75% | 25.24% | 27.48% | 20.01% | 9.4% | 2.87% |
Acquisitions | -48.2M | 983.8M | -616.7M | 0 | 0 | -2.92B | -241.3M | 0 | -185.3M | -185.3M |
Investments | - | - | - | - | - | - | - | - | - | - |
Other Investing | 11.5M | -10.3M | -1.2M | -5.2M | -8.6M | 271.6M | 199.8M | -545.2M | -286.2M | -182.4M |
Cash from Financing | -59.5M | -933.3M | 460.8M | 76M | -500K | 2.42B | 129.3M | -196.6M | -262.5M | -346.6M |
Debt Issued (Net) | 214.6M | -300.7M | 596M | 159.1M | 339.4M | 2.67B | 237.1M | 53.8M | 213.8M | 42.9M |
Equity Issued (Net) | -188.8M | -545.5M | -95M | -28.4M | -297.5M | -174.9M | -55.9M | -186M | -427.8M | -341.4M |
Dividends Paid | -21.5M | -23.7M | -22.2M | -23.4M | -24.8M | -26M | -27.1M | -29.2M | -30.8M | -31.7M |
Share Repurchases | -190.9M | -547M | -95M | -28.4M | -297.5M | -174.9M | -55.9M | -186M | -427.8M | -341.4M |
Other Financing | -63.8M | -63.4M | -18M | -31.3M | -17.6M | -53.4M | -24.8M | -35.2M | -17.7M | -16.4M |
Net Change in Cash | 5.6M▲ 0% | 87.8M▲ 1467.9% | -30.8M▼ 135.1% | -21.5M▲ 30.2% | 234.6M▲ 1191.2% | -150.9M▼ 164.3% | 17.1M▲ 111.3% | 30.9M▲ 80.7% | 35.8M▲ 15.9% | 19.3M▲ 0% |
Free Cash Flow | 101.3M▲ 0% | 48.4M▼ 52.2% | 126.3M▲ 161.0% | -92.3M▼ 173.1% | 243.7M▲ 364.0% | 80M▼ 67.2% | -70.7M▼ 188.4% | 225.7M▲ 419.2% | 494.9M▲ 119.3% | 733.6M▲ 0% |
FCF Margin % | 11.48% | 4.8% | 9.5% | -8.76% | 15.26% | 4.42% | -2.87% | 8.25% | 16.91% | 24.9% |
FCF Growth % | -40.27% | -52.22% | 160.95% | -173.08% | 364.03% | -67.17% | -188.38% | 419.24% | 119.27% | 150.89% |
FCF per Share | 1.06 | 0.58 | 1.56 | -1.17 | 3.11 | 1.04 | -0.93 | 3.03 | 6.93 | 10.48 |
FCF Conversion (FCF/Net Income) | 1.55x | 0.56x | 2.11x | -1.73x | 1.35x | 1.22x | 1.45x | 1.81x | 2.03x | 1.89x |
Interest Paid | 47.5M | 31.1M | 61.7M | 79.6M | 77.5M | 133.6M | 283.6M | 306.8M | 0 | 100.4M |
Taxes Paid | 75.9M | 48.6M | 23.5M | 1.6M | 72.4M | 68.6M | 99.1M | 108.2M | 0 | 9M |
CHDN Key Ratios
Churchill Downs Incorporated (CHDN) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Return on Equity (ROE) | 21.2% | 63.36% | 27.94% | -18.65% | 73.93% | 102.39% | 57.75% | 42.75% | 35.17% | 35.7% |
Return on Invested Capital (ROIC) | 6.67% | 9.63% | 10.39% | 2.37% | 10.92% | 6.88% | 7.97% | 9.3% | 9.35% | 8.78% |
Gross Margin | 28.64% | 28.7% | 25.8% | 18.36% | 27.93% | 31.3% | 32.32% | 34.32% | 33.58% | 33.81% |
Net Margin | 15.92% | 34.97% | 10.34% | -7.77% | 15.6% | 24.28% | 16.95% | 15.61% | 12.98% | 13.16% |
Debt / Equity | 1.76x | 1.87x | 2.88x | 4.42x | 6.41x | 8.35x | 5.42x | 4.46x | 4.92x | 4.31x |
Interest Coverage | 3.08x | 6.83x | 3.77x | 1.10x | 5.06x | 5.13x | 3.09x | 2.98x | 2.79x | 5.25x |
FCF Conversion | 1.55x | 0.56x | 2.11x | -1.73x | 1.35x | 1.22x | 1.45x | 1.81x | 2.03x | 1.89x |
Revenue Growth | -32.55% | 14.32% | 31.78% | -20.73% | 51.54% | 13.31% | 36.02% | 11.07% | 7.01% | 5.75% |
Related:CHDN Dividend History·CHDN Revenue History·CHDN Price History·CHDN P/E History·CHDN Financial Ratios·CHDN Institutional Holders
CHDN SEC Filings & Documents
Churchill Downs Incorporated (CHDN) SEC filings — annual & quarterly reports (10-K, 10-Q)
CHDN Frequently Asked Questions
Churchill Downs Incorporated (CHDN) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Churchill Downs Incorporated (CHDN) reported $2.95B in revenue for fiscal year 2025. This represents a 2631% increase from $107.9M in 1996.
Churchill Downs Incorporated (CHDN) grew revenue by 7.0% over the past year. This is steady growth.
Yes, Churchill Downs Incorporated (CHDN) is profitable, generating $387.6M in net income for fiscal year 2025 (13.0% net margin).
Dividend & Returns
Yes, Churchill Downs Incorporated (CHDN) pays a dividend with a yield of 0.49%. This makes it attractive for income-focused investors.
Churchill Downs Incorporated (CHDN) has a return on equity (ROE) of 35.2%. This is excellent, indicating efficient use of shareholder capital.
Churchill Downs Incorporated (CHDN) generated $733.6M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.