Churchill Downs Incorporated (CHDN) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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CHDN Revenue Growth
Revenue Breakdown (FY 2025)
CHDN's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
CHDN Revenue Analysis (2014–2025)
As of May 8, 2026, Churchill Downs Incorporated (CHDN) generated trailing twelve-month (TTM) revenue of $2.95 billion, reflecting modest growth of +3.2% year-over-year. The most recent quarter (Q1 2026) recorded $663.0 million in revenue, down 0.4% sequentially.
Looking at the longer-term picture, CHDN's 5-year compound annual growth rate (CAGR) stands at +22.7%, indicating outstanding long-term growth trajectory. The company achieved its highest annual revenue of $2.93 billion in 2025, representing a new all-time high.
Revenue diversification analysis shows CHDN's business is primarily driven by Gaming (34%), Pari-Mutuel, Historical Racing (33%), and Pari-Mutuel, Live And Simulcast Racing (16%).
When compared to Consumer Cyclical sector peers including PENN (+5.8% YoY), BYD (+4.1% YoY), and RRR (+3.7% YoY), CHDN has underperformed the peer group in terms of revenue growth. Compare CHDN vs PENN →
CHDN Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| CHDNCurrent | $2.9B | +3.2% | +22.7% | 25.2% | |
 PENN | $7.0B | +5.8% | +14.2% | 3.9% | |
 BYD | $4.1B | +4.1% | +13.4% | 21.4% | |
 RRR | $2.0B | +3.7% | +11.2% | 29.7% | |
 DKNG | $6.1B | +27.0% | +58.0% | -0.3% | |
 CZR | $11.5B | +2.3% | +25.9% | 18.1% |
CHDN Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $2.93B | +7.0% | $982.6M | 33.6% | $736.4M | 25.2% |
| 2024 | $2.73B | +11.1% | $938.5M | 34.3% | $709.0M | 25.9% |
| 2023 | $2.46B | +36.0% | $795.7M | 32.3% | $564.0M | 22.9% |
| 2022 | $1.81B | +13.3% | $566.4M | 31.3% | $321.8M | 17.8% |
| 2021 | $1.60B | +51.5% | $446.1M | 27.9% | $284.4M | 17.8% |
| 2020 | $1.05B | -20.7% | $193.5M | 18.4% | $60.2M | 5.7% |
| 2019 | $1.33B | +31.8% | $343.0M | 25.8% | $215.7M | 16.2% |
| 2018 | $1.01B | +14.3% | $289.6M | 28.7% | $188.8M | 18.7% |
| 2017 | $882.6M | -32.6% | $252.8M | 28.6% | $145.7M | 16.5% |
| 2016 | $1.31B | +7.9% | $315.6M | 24.1% | $194.2M | 14.8% |
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Start ComparisonCHDN — Frequently Asked Questions
Quick answers to the most common questions about buying CHDN stock.
Is CHDN's revenue growth accelerating or slowing?
CHDN revenue growth slowed to +3.2%, below the 5-year CAGR of +22.7%. TTM revenue is $2.9B. The deceleration marks a shift from historical growth rates.
What is CHDN's long-term revenue growth rate?
Churchill Downs Incorporated's 5-year revenue CAGR of +22.7% reflects the variable expansion pattern. Current YoY growth of +3.2% is near this long-term average.
How is CHDN's revenue distributed by segment?
CHDN reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.