CHDN
Churchill Downs Incorporated
NASDAQ: CHDN · CONSUMER CYCLICAL · GAMBLING
$101.15
+1.64% today
Updated 2026-04-29
Market cap
$7.05B
P/E ratio
18.63
P/S ratio
2.39x
EPS (TTM)
$5.43
Dividend yield
0.44%
52W range
$80 – $118
Volume
1.1M
Churchill Downs Incorporated (CHDN) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $376.67M | $410.74M | $430.57M | $439.70M | $585.35M | $696.85M | $732.38M | $779.33M | $812.93M | $1.21B | $1.31B | $882.60M | $1.01B | $1.33B | $1.05B | $1.60B | $1.81B | $2.46B | $2.73B | $2.93B |
| Revenue growth (YoY) | — | +9.0% | +4.8% | +2.1% | +33.1% | +19.1% | +5.1% | +6.4% | +4.3% | +49.1% | +7.9% | -32.6% | +14.3% | +31.8% | -20.7% | +51.5% | +13.3% | +36.0% | +11.1% | +7.0% |
| Cost of revenue | $301.61M | $326.40M | $344.28M | $354.01M | $491.35M | $551.32M | $568.81M | $606.15M | $634.03M | $922.90M | $993.00M | $629.80M | $719.40M | $986.70M | $860.50M | $1.15B | $1.24B | $1.67B | $1.80B | $1.94B |
| Gross profit | $75.06M | $84.33M | $86.29M | $85.69M | $94.00M | $145.54M | $163.57M | $173.17M | $178.90M | $289.40M | $315.60M | $252.80M | $289.60M | $343.00M | $193.50M | $446.10M | $566.40M | $795.70M | $938.50M | $982.60M |
| Gross margin | 19.9% | 20.5% | 20.0% | 19.5% | 16.1% | 20.9% | 22.3% | 22.2% | 22.0% | 23.9% | 24.1% | 28.6% | 28.7% | 25.8% | 18.4% | 27.9% | 31.3% | 32.3% | 34.3% | 33.6% |
| R&D | — | — | — | — | — | $0.00 | $0.00 | $0.00 | $0.00 | $39.40M | $39.00M | $17.50M | $7.30M | $8.80M | $9.40M | $10.30M | $10.70M | $11.20M | — | — |
| SG&A | $44.71M | $51.48M | $50.71M | $50.95M | $62.43M | $64.53M | $73.83M | $83.45M | $85.11M | $90.79M | $100.20M | $83.10M | $90.50M | $122.00M | $114.80M | $138.50M | $164.20M | $202.30M | $237.70M | $246.20M |
| Operating income | $49.58M | $33.64M | $52.78M | $34.73M | $31.57M | $81.01M | $96.75M | $90.10M | $90.39M | $123.61M | $194.20M | $145.70M | $188.80M | $215.70M | $60.20M | $284.40M | $321.80M | $564.00M | $709.00M | $736.40M |
| Operating margin | 13.2% | 8.2% | 12.3% | 7.9% | 5.4% | 11.6% | 13.2% | 11.6% | 11.1% | 10.2% | 14.8% | 16.5% | 18.7% | 16.2% | 5.7% | 17.8% | 17.8% | 22.9% | 25.9% | 25.2% |
| EBITDA | $70.50M | $56.92M | $80.84M | $66.43M | $80.60M | $159.18M | $151.56M | $153.49M | $165.62M | $263.40M | $266.80M | $225.20M | $338.00M | $368.30M | $185.90M | $536.80M | $875.10M | $1.01B | $1.07B | $1.07B |
| EBITDA margin | 18.7% | 13.9% | 18.8% | 15.1% | 13.8% | 22.8% | 20.7% | 19.7% | 20.4% | 21.7% | 20.4% | 25.5% | 33.5% | 27.7% | 17.6% | 33.6% | 48.4% | 40.8% | 39.0% | 36.6% |
| EBIT | $49.58M | $33.64M | $52.00M | $36.17M | $34.08M | $104.01M | $95.96M | $91.74M | $97.36M | $144.02M | $191.10M | $151.80M | $274.00M | $267.30M | $88.00M | $428.30M | $756.10M | $830.20M | $863.00M | $830.10M |
| Interest expense | $1.87M | $584000.00 | $2.20M | $1.66M | $6.18M | $8.92M | $4.53M | $6.23M | $20.80M | $28.60M | $43.70M | $49.30M | $40.10M | $70.90M | $80.00M | $84.70M | $147.30M | $268.40M | $289.80M | $297.70M |
| Income tax | $19.39M | $12.31M | $20.65M | $16.84M | $8.34M | $34.29M | $33.15M | $30.47M | $30.16M | $46.89M | $60.00M | $-19.90M | $51.30M | $56.80M | $-5.30M | $94.50M | $169.40M | $144.50M | $144.10M | — |
| Effective tax rate | 39.4% | 43.9% | 42.0% | 50.0% | 33.8% | 34.8% | 36.3% | 35.7% | 39.4% | 41.8% | 35.7% | -16.5% | 12.7% | 29.2% | 6.1% | 27.5% | 27.8% | 25.7% | 25.2% | 0.0% |
| Net income | $29.81M | $15.73M | $28.55M | $16.83M | $16.35M | $64.36M | $58.28M | $54.90M | $46.36M | $65.20M | $108.10M | $140.50M | $352.80M | $137.50M | $-81.90M | $249.10M | $439.40M | $417.30M | $426.80M | $379.70M |
| Net income growth (YoY) | — | -47.2% | +81.5% | -41.1% | -2.8% | +293.5% | -9.4% | -5.8% | -15.6% | +40.6% | +65.8% | +30.0% | +151.1% | -61.0% | -159.6% | +404.2% | +76.4% | -5.0% | +2.3% | -11.0% |
| Profit margin | 7.9% | 3.8% | 6.6% | 3.8% | 2.8% | 9.2% | 8.0% | 7.0% | 5.7% | 5.4% | 8.3% | 15.9% | 35.0% | 10.3% | -7.8% | 15.6% | 24.3% | 17.0% | 15.6% | 13.0% |