CHDNNasdaqServices-Racing, Including Track OperationFiscal year ends December 31

Churchill Downs Inc

Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 29, 2026

$81.97+0.27 (+0.33%)

Close on Oct 19, 2026

Margins

Share of revenue, fiscal years 2011 to 2025

23.4%+17.7 pts over 5 years

13.1%+20.9 pts over 5 years

Compound annual growth to fiscal 2025

Per year	1 year	3 years	5 years	10 years
Revenue	+7.0%	+17.4%	+22.7%	+13.9%
Operating income	-3.6%	+28.6%	+62.6%	+18.4%
Net income	-10.3%	-4.5%	–	+19.4%
Dividend per share	+7.1%	+7.1%	+7.1%	+8.6%

10 fiscal years. Hover a measure to see how it is calculated.

Measure	FY2016	FY2020	FY2025
Return on equity	16.6%	-18.7%	36.6%
Return on assets	4.8%	-3.0%	5.2%
Current ratio	0.53	0.55	0.60
Debt to equity	1.35	4.42	5.08
Net debt to EBITDA	2.98×	9.81×	5.38×
Interest coverage	3.9×	0.8×	2.3×
Capex to revenue	3.8%	–	–
Diluted shares	101M	80M	72M

Return on equity split into margin, efficiency and leverage

Net margin13.1%

Asset turnover0.40×

Equity multiplier7.05×

Return on equity, FY202536.6%

Fiscal year	Net margin	Asset turnover	Equity multiplier	Return on equity
FY2025	13.1%	0.40×	7.05×	36.6%
FY2024	15.6%	0.38×	7.20×	43.2%
FY2023	17.0%	0.37×	9.11×	57.8%
FY2022	24.3%	0.39×	10.71×	102.4%
FY2021	15.6%	0.54×	8.85×	73.9%
FY2020	-7.8%	0.38×	6.32×	-18.7%
FY2019	10.3%	0.62×	4.36×	28.0%
FY2018	35.0%	0.49×	3.67×	63.4%
FY2017	15.9%	0.38×	3.48×	21.2%
FY2016	13.1%	0.36×	3.48×	16.6%

Parsed from the XBRL in Churchill Downs's annual and quarterly filings with the SEC
Per-share figures adjusted for the 2-for-1 split on May 22, 2023
Fourth quarters derived from the annual report minus nine months
Every figure in the statements links to its source filing

Trailing twelve months. Peers are matched on business description, industry and size. Ticks are peers, the dot is CHDN.

Revenue growth5.7% · median 8.7%

Operating margin24.1% · median 8.2%

Net margin13.8% · median 2.3%

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