Churchill Downs Inc (CHDN) Financial Statements
Industry: Racing, Including Track Operation (Services)
In fiscal 2025, Churchill Downs reported revenue of $2.93B, up 7.0% from $2.73B the year before. Net income was $383.0M (a 13.1% net margin), or $5.33 per diluted share. Operating margin was 23.4%. Operating activities generated $769.8M of cash. At fiscal year end, Churchill Downs held $7.48B in total assets against $6.43B in total liabilities, including $200.6M of cash and equivalents.
Open the full interactive Churchill Downs financials → Quarterly statements, key ratios, valuation history and price charts.
Churchill Downs Key Stats
| Share Price | $81.06 |
|---|---|
| Market Cap | $5.67B |
| P/E Ratio | 15.2 |
| Dividend Yield | 0.56% |
| Revenue YoY Growth | +7.0% |
| 52-Week Range | $73.95 – $117.59 |
| Shares Outstanding | 70.0 million (basic, 2026 Q2) |
Churchill Downs Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $1.05B | $1.60B | $1.81B | $2.46B | $2.73B | $2.93B |
| Operating Income | $60.2M | $284.4M | $321.8M | $564.0M | $709.0M | $683.8M |
| Pre-Tax Income | $8.0M | $343.6M | $608.8M | $561.8M | $573.2M | $532.4M |
| Income Tax | -$5.3M | $94.5M | $169.4M | $144.5M | $144.1M | $146.9M |
| Net Income | -$81.9M | $249.1M | $439.4M | $417.3M | $426.8M | $383.0M |
| Diluted EPS | -$1.04 | $3.17 | $5.71 | $5.49 | $5.72 | $5.33 |
Churchill Downs Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $683.0M | $665.9M | $663.0M | $980.0M |
| Net Income | $38.1M | $51.3M | $83.0M | $241.0M |
| Diluted EPS | $0.54 | $0.71 | $1.19 | $3.44 |
Churchill Downs Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $67.4M | $291.3M | $129.8M | $144.5M | $175.5M | $200.6M |
| Current Assets | $235.1M | $501.5M | $344.5M | $400.8M | $412.3M | $443.2M |
| Total Assets | $2.69B | $2.98B | $6.21B | $6.96B | $7.28B | $7.48B |
| Current Liabilities | $424.2M | $395.0M | $621.6M | $755.8M | $729.3M | $733.3M |
| Total Long-Term Debt | $1.62B | $1.97B | $4.61B | $4.84B | $4.91B | $5.13B |
| Total Liabilities | $2.32B | $2.67B | $5.66B | $6.06B | $6.17B | $6.43B |
| Shareholders' Equity | $367.1M | $306.8M | $551.5M | $893.6M | $1.08B | $1.01B |
Churchill Downs Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $141.9M | $459.5M | $510.8M | $605.3M | $771.7M | $769.8M |
| Cash From Investing | -$239.4M | -$100.4M | -$3.10B | -$718.0M | -$545.2M | -$471.5M |
| Cash From Financing | $76.0M | -$500,000 | $2.42B | $129.3M | -$196.6M | -$262.5M |
| Dividends Paid | $23.4M | $24.8M | $26.0M | $27.1M | $29.2M | $30.8M |
Figures from Churchill Downs' 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Churchill Downs financials page for every line item.
Churchill Downs Company Profile
| Ticker | CHDN |
|---|---|
| Exchange | Nasdaq |
| Industry | Racing, Including Track Operation (Services) |
| Headquarters | Louisville, Kentucky |
| Incorporated in | Kentucky |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0000020212 |
Frequently Asked Questions
What was Churchill Downs' revenue in fiscal 2025?
Churchill Downs (CHDN) reported revenue of $2.93B for fiscal 2025.
What is Churchill Downs' annual revenue history?
Churchill Downs' annual revenue by fiscal year: 2020: $1.05B; 2021: $1.60B; 2022: $1.81B; 2023: $2.46B; 2024: $2.73B; 2025: $2.93B.
What was Churchill Downs' net income in fiscal 2025?
Churchill Downs reported net income of $383.0M for fiscal 2025.
What was Churchill Downs' earnings per share (EPS) in fiscal 2025?
Churchill Downs' diluted EPS was $5.33 for fiscal 2025 (adjusted for any later stock splits).
What was Churchill Downs' revenue last quarter?
In its most recent reported quarter (2026 Q2), Churchill Downs reported revenue of $980.0M.
How much debt does Churchill Downs have?
Churchill Downs reported $5.13B of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Churchill Downs are outstanding?
Churchill Downs reported a weighted average of 70.0 million basic shares outstanding in 2026 Q2.
What is Churchill Downs' market cap?
Based on its latest closing price, Churchill Downs (CHDN) has a market capitalization of about $5.67B.
When does Churchill Downs' fiscal year end?
Churchill Downs' fiscal year end, as registered with the SEC, is December 31.
Where is Churchill Downs headquartered?
Churchill Downs lists its business address in Louisville, Kentucky in its SEC filings.