CHDN
Churchill Downs Inc
$85.52
-0.61 (-0.71%)
At close · Jul 10
Market Cap
$5.96B
Shares
69,696,908
Income-statement, balance-sheet and cash-flow figures extracted from the company's SEC filings — 10-K annual and 10-Q quarterly reports — and standardised for comparison across periods.
Revenue
$2.93B
+7%
FY2025
Net Income
$383M
-10.3%
FY2025
Operating Margin
23.37%
-2.6pp
FY2025
Diluted EPS
$5.49
-3.9%
FY2023
Operating Cash Flow
$769.8M
-0.2%
FY2025
Chart any reported metric, KPI or segment over time — the full statement history lives here
Search above to add metrics — fundamentals, product and segment revenue, company KPIs, valuation.
| Line Item | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| $2.95B | $2.93B | $2.73B | $2.46B | $1.81B | $1.6B | $1.05B | $1.33B | $1.01B | — | — | $0 | $0 | $0 | — | — | |
| -$297.7M | -$297.7M | -$289.8M | -$268.4M | -$147.3M | -$84.7M | — | — | — | — | -$43.7M | -$28.55M | -$20.82M | -$6.12M | -$4.44M | — | |
| $39.6M | — | — | — | — | — | — | — | — | — | $39M | $39.4M | — | — | — | — | |
| $250.2M | $246.2M | $237.7M | $202.3M | $164.2M | $138.5M | $114.8M | $122M | $90.5M | $83.1M | $100.2M | $90.79M | $85.11M | $83.45M | $73.83M | $64.53M | |
| — | $10.3M | $11.1M | $7.2M | $4.7M | $4.8M | $4.9M | $15M | $6M | $6.8M | $52.9M | $56.1M | $13.3M | $12.2M | $11.2M | — | |
| $230.1M | $233.1M | $199.1M | $169M | $113.7M | $103.2M | $92.9M | $96.4M | $63.6M | $97.1M | $108.6M | $109.71M | $68.26M | $61.75M | $55.6M | $55.17M | |
| $2.25B | $2.24B | $2.03B | $1.9B | $1.49B | $1.31B | $993.8M | $1.11B | $820.2M | $736.9M | $1.11B | — | — | — | — | — | |
| $691.8M | $683.8M | $709M | $564M | $321.8M | $284.4M | $60.2M | $215.7M | $188.8M | $145.7M | $194.2M | $123.61M | $90.39M | $90.1M | $96.75M | $81.01M | |
| — | 23.37% | 25.93% | 22.91% | 17.78% | 17.81% | 5.71% | 16.22% | 18.71% | — | — | — | — | — | — | — | |
| $921.9M | $916.9M | $908.1M | $733M | $435.5M | $387.6M | $153.1M | $312.1M | $252.4M | $242.8M | $302.8M | $233.32M | $158.65M | $151.85M | $152.35M | $136.18M | |
| $297.7M | $297.7M | $289.8M | $268.4M | $147.3M | $84.7M | $80M | $70.9M | $40.1M | $49.3M | $43.7M | $28.6M | $20.84M | $6.23M | $4.53M | $8.92M | |
| -$158K | — | — | — | — | — | — | — | — | — | — | $42K | $20K | $112K | $90K | $468K | |
| -$142.4M | -$151.4M | -$135.8M | -$2.2M | $287M | $59.2M | -$52.2M | -$19.3M | $45.1M | -$43.2M | -$26.1M | -$11.52M | -$13.88M | -$4.59M | -$5.32M | $14.07M | |
| $142.4M | $139.4M | $144.9M | $146.3M | $152.7M | $143.2M | $27.7M | $50.6M | $29.6M | $25.5M | $17.4M | $11.18M | $6.33M | -$4.14M | -$1.7M | -$1.11M | |
| $549.4M | $532.4M | $573.2M | $561.8M | $608.8M | $343.6M | $8M | $196.4M | $233.9M | $102.5M | $168.1M | $112.09M | $76.52M | $85.51M | $91.43M | $95.08M | |
| $157.9M | $146.9M | $144.1M | $144.5M | $169.4M | $94.5M | -$5.3M | $56.8M | $51.3M | -$19.9M | $60M | $46.89M | $30.16M | $30.47M | $33.15M | $34.29M | |
| $389M | $383M | $426.8M | $417.3M | $439.4M | $249.1M | -$81.9M | $137.5M | $352.8M | $140.5M | $108.1M | $65.2M | $46.36M | $54.9M | $58.28M | $64.36M | |
| — | 13.09% | 15.61% | 16.95% | 24.28% | 15.6% | -7.77% | 10.34% | 34.97% | — | — | — | — | — | — | — | |
| $2.5M | $2.5M | $2.3M | — | $0 | $0 | -$200K | -$300K | — | — | — | — | — | — | — | — | |
| $384.7M | $379.7M | $423.8M | — | $439.4M | $249.1M | -$81.9M | $137.5M | $352.8M | $140.4M | $107.1M | $64.6M | $46.09M | $54.03M | $57.76M | — | |
| $342M | — | — | $417.3M | $439.4M | $249.1M | -$81.9M | $137.5M | $353.2M | $140.4M | $107.5M | $64.73M | $46.23M | — | — | — | |
| USD/shares | — | — | — | $5.55 | $5.79 | $3.23 | -$1.04 | $1.72 | $4.27 | $4.46 | $3.26 | $1.88 | $1.34 | $1.56 | $1.70 | $1.90 |
| USD/shares | — | — | — | $5.49 | $5.71 | $3.18 | -$1.04 | $1.69 | $4.24 | $4.39 | $3.21 | $1.86 | $1.32 | $1.53 | $1.67 | $1.88 |
| shares | — | 71.4M | 74M | 75.2M | 75.8M | 77.2M | 79.2M | 80.2M | 82.6M | 31.4M | 32.8M | 34.45M | 34.54M | 34.59M | 34.09M | 33.28M |
| shares | — | 71.8M | 74.6M | 76.1M | 77M | 78.4M | 80.2M | 81.2M | 83.2M | 32M | 33.6M | 35.15M | 35.18M | 35.88M | 34.95M | 34.25M |
Italic rows are computed from reported lines — open a row's info icon for its formula. Values reflect the latest filing (restatements included); per-share figures on today's split basis. Click a value for its source filing.
TTM: trailing twelve months through the latest reported quarter — flows sum the last four quarters, balances take the latest. 3Y/5Y/10Y columns are trailing CAGR from the newest fiscal year; blank where an endpoint is missing or negative.
Capital Returned to Shareholders
Cash spent on share repurchases and dividends per fiscal year, as reported on the cash-flow statement. Across FY2011–FY2025: $2.22B in buybacks, $311.03M in dividends.
Price & Valuation
Multiples computed on the strict TTM/EV methodology — today's snapshot against the industry, and each ratio recomputed as of past filing dates.
Valuation
EV/Revenue
3.63×
Gambling median 2.13×
EV/EBIT
15.45×
Gambling median 12.15×
P/E (TTM)
—
Gambling median 20.83×
Valuation over time computed as of each quarter's filing date
Revenue Breakdown
Annual revenue as the company disaggregates it in its own XBRL filings. Years a component wasn't reported show a dash.
Share mode is each component's slice of the reported components that year — issuers rarely tag every revenue dollar, so slices need not sum to total revenue.
By Segment (USD)
| Component | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|---|---|---|
| Live and Historical Racing | $1,442,400,000 | $1,267,000,000 | $1,084,600,000 | $646,400,000 | $430,600,000 | $169,600,000 | $276,700,000 | — |
| Gaming Segment | $1,049,300,000 | $1,045,400,000 | $974,600,000 | $761,800,000 | $698,400,000 | $437,800,000 | $687,300,000 | $449,500,000 |
| Wagering Services and Solutions | $526,300,000 | $500,700,000 | $458,400,000 | $441,600,000 | — | — | — | — |
| Churchill Downs | — | — | — | — | — | $142,800,000 | $274,200,000 | $195,800,000 |
| Online Wagering | — | — | — | — | — | $408,300,000 | $290,500,000 | $290,200,000 |
| Twin Spires | — | — | $458,400,000 | $441,600,000 | $457,800,000 | $430,100,000 | $295,600,000 | — |
By Product & Service (USD)
| Component | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|---|---|---|
| Live and Historical Racing | $1,394,700,000 | $1,225,600,000 | $1,047,300,000 | $614,600,000 | $409,100,000 | $169,600,000 | $276,700,000 | — |
| Gaming | $1,042,900,000 | $1,039,100,000 | $968,600,000 | $755,900,000 | $695,400,000 | $435,300,000 | $687,300,000 | $449,500,000 |
| Wagering Services and Solutions | $488,200,000 | $469,500,000 | $444,900,000 | $436,400,000 | — | — | — | — |
| Product And Service Other | $100,000 | $100,000 | $900,000 | $2,900,000 | $41,300,000 | $19,000,000 | $70,100,000 | $73,500,000 |
| Churchill Downs | — | — | — | — | — | — | — | $195,800,000 |
| Online Wagering | — | — | — | — | — | — | — | $290,200,000 |
| Twin Spires | — | — | — | — | $451,400,000 | $430,100,000 | $295,600,000 | — |