balance equationreview2020-12-31
Difference 295200000 exceeds tolerance 2981600.000. Presentation or filing-vintage differences need review.
Revenue
$2.93B
Fiscal year ended 2025-12-31Operating income
$683.80M
Fiscal year ended 2025-12-31Free cash flow
Unavailable
Fiscal year ended 2025-12-31Churchill Downs Inc (CHDN) reported revenue of $2.93B and net income of $383.00M for the fiscal year ended 2025-12-31. This page shows 10 annual periods of income statement, balance sheet and cash flow figures normalized from Churchill Downs Inc’s SEC filings, each linked to the filing it came from.
Income
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.93B | $2.73B | $2.46B | $1.81B | $1.60B | $1.05B | $1.33B | $1.01B | $882.60M | $822.40M |
| Cost of revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Gross profit | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Operating income | $683.80M | $709.00M | $564.00M | $321.80M | $284.40M | $60.20M | $215.70M | $188.80M | $145.70M | $172.50M |
| Net income | $383.00M | $426.80M | $417.30M | $439.40M | $249.10M | -$81.90M | $137.50M | $352.80M | $140.50M | $108.10M |
| Research & development | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | $39.00M |
| Weighted-average diluted shares | shares 71.80M | shares 74.60M | shares 76.10M | shares 77.00M | shares 78.40M | shares 40.10M | shares 40.60M | shares 41.60M | shares 48.00M | shares 50.50M |
| Pretax income | $532.40M | $573.20M | $561.80M | $608.80M | $343.60M | $8.00M | $196.40M | $233.90M | $102.50M | $147.40M |
| Income tax expense | $146.90M | $144.10M | $144.50M | $169.40M | $94.50M | -$5.30M | $56.80M | $51.30M | -$19.90M | $50.70M |
| Diluted EPS | Unavailable | Unavailable | $5.49 | $5.71 | $3.18 | $-2.08 | $3.38 | $8.48 | $2.92 | $2.14 |
| Selling, general & administrative | $246.20M | $237.70M | $202.30M | $164.20M | $138.50M | $114.80M | $122.00M | $90.60M | $83.50M | $79.40M |
| General & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Selling & marketing | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Balance
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $201.00M | $175.50M | $144.50M | $129.80M | $291.30M | $67.40M | $96.20M | $133.30M | $51.70M | $83.00M |
| Total assets | $7.48B | $7.28B | $6.96B | $6.21B | $2.98B | $2.98B | $2.55B | $1.73B | $2.36B | $2.25B |
| Current assets | $443.00M | $412.30M | $400.80M | $344.50M | $501.50M | $235.10M | $221.20M | $241.50M | $256.10M | $246.00M |
| Total liabilities | $6.43B | $6.17B | $6.06B | $5.66B | $2.67B | $2.32B | $2.04B | $1.25B | $1.72B | $1.57B |
| Current liabilities | $733.00M | $729.30M | $755.80M | $621.60M | $395.00M | $424.20M | $301.20M | $256.60M | $453.20M | $468.10M |
| Total equity incl. NCI | $1.01B | $1.08B | $893.60M | $551.50M | $306.80M | $367.10M | $511.00M | $473.30M | $640.30M | $685.00M |
| Temporary (mezzanine) equity | $46.00M | $19.70M | $0 | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Inventory | $12.00M | $11.60M | $17.20M | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Accounts receivable | $93.00M | $98.70M | $106.90M | $81.50M | $42.30M | $36.50M | $37.30M | $28.80M | $49.60M | $56.60M |
| Goodwill | $900.00M | $900.20M | $899.90M | $723.80M | $366.80M | $366.80M | $367.10M | $338.00M | $317.60M | $301.50M |
| Long-term debt | $5.07B | $4.84B | $4.77B | $4.56B | $1.96B | $1.62B | $1.47B | $880.30M | $1.13B | $907.50M |
| Accounts payable | $184.00M | $180.30M | $158.50M | $145.50M | $81.60M | $70.70M | $57.80M | $47.00M | $54.10M | $49.50M |
Cash flow
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | $141.90M | $289.60M | $197.80M | $215.10M | $231.40M |
| Capital expenditures | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | $29.60M | $33.30M | $30.90M |
| Investing cash flow | -$471.50M | -$545.20M | -$718.00M | -$3.10B | -$100.40M | -$239.40M | -$781.20M | $824.10M | -$153.60M | -$50.70M |
| Financing cash flow | -$262.50M | -$196.60M | $129.30M | $2.42B | -$500.00K | $76.00M | $460.80M | -$933.30M | -$59.50M | -$201.90M |
| Net change in cash | $35.80M | $30.90M | $17.10M | -$150.90M | $234.60M | -$21.50M | -$30.80M | $88.60M | $2.00M | Unavailable |
| Stock-based compensation | $30.20M | $36.10M | $32.90M | $31.80M | $27.80M | $23.70M | $23.80M | $21.10M | $27.10M | $18.90M |
| Common dividends paid | $30.80M | $29.20M | $27.10M | $26.00M | $24.80M | $23.40M | $22.20M | $23.70M | $21.50M | $19.10M |
| Common share repurchases | $427.80M | $186.00M | $55.90M | $174.90M | $297.50M | $28.40M | $95.00M | $531.40M | $180.90M | $39.00M |
| Depreciation & amortization | $233.10M | $199.10M | $169.00M | $113.70M | $103.20M | $92.90M | $96.40M | $63.60M | $97.10M | $108.60M |
Derived
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Free cash flow | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | $200.50M |
| Gross margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Operating margin | 23.4% | 25.9% | 22.9% | 17.8% | 17.8% | 5.7% | 16.2% | 18.7% | 16.5% | 21.0% |
| FCF margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | 24.4% |
| SBC / revenue | 1.0% | 1.3% | 1.3% | 1.8% | 1.7% | 2.2% | 1.8% | 2.1% | 3.1% | 2.3% |
| Current ratio | 0.60x | 0.57x | 0.53x | 0.55x | 1.27x | 0.55x | 0.73x | 0.94x | 0.57x | 0.53x |
| Revenue YoY growth | 7.0% | 11.1% | 36.0% | 13.3% | 51.5% | -20.7% | 31.8% | 14.3% | 7.3% | Unavailable |
| Net margin | 13.1% | 15.6% | 17.0% | 24.3% | 15.6% | -7.8% | 10.3% | 35.0% | 15.9% | 13.1% |
| R&D / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| CapEx / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | 3.8% |
| Long-term debt / equity | 5.02x | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Effective tax rate | 27.6% | 25.1% | 25.7% | 27.8% | 27.5% | -66.2% | 28.9% | 21.9% | -19.4% | 34.4% |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open CHDN in the interactive workspace to inspect any figure back to its filing.
Source filings
10-Q · Filed 2026-07-29View SEC filing
10-Q · Filed 2026-04-22View SEC filing
10-K · Filed 2026-02-25View SEC filing
10-Q · Filed 2025-10-22View SEC filing
10-Q · Filed 2025-07-23View SEC filing
10-Q · Filed 2025-04-23View SEC filing
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Reconciliation checks needing review
1 period on this page do not reconcile under this site’s normalization. Read that as a limitation here before an observation about the company: the figures are the filer’s own, the filings linked above are authoritative, and a difference usually means the concepts this site selected do not match how this filer presents its statements. Nothing is adjusted to make a check pass.