Churchill Downs Financial Statements
NASDAQ: CHDNConsumer DiscretionaryServices-Misc. Amusement & RecreationUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
Churchill Downs revenue and earnings
In fiscal 2025, Churchill Downs generated $2.93 billion in revenue, up 7.0% from fiscal 2024, its 5th consecutive year of revenue growth. Net income was $383.0 million (-10.3% year over year), for a net margin of 13.1% versus a median of 15.6% in the prior 5 years. Operating margin was 23.4%.
Diluted earnings per share came in at $5.29, down from $5.68. Over the last 5 fiscal years, CHDN's revenue has grown at a 22.7% compound annual rate.
Summary generated from market data by MetaCap's automated system. Methodology
Churchill Downs income statement (annual)
| Fiscal year (USD) | FY 20252025-12-31 | FY 20242024-12-31 | FY 20232023-12-31 | FY 20222022-12-31 | FY 20212021-12-31 | FY 20202020-12-31 | FY 20192019-12-31 | FY 20182018-12-31 | FY 20172017-12-31 | FY 20162016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 2.93B | 2.73B | 2.46B | 1.81B | 1.60B | 1.05B | 1.33B | 1.01B | 882.60M | 822.40M |
| Revenue growth (YoY) | +7.01% | +11.07% | +36.02% | +13.31% | +51.54% | -20.73% | +31.78% | +14.32% | +7.32% | — |
| Operating Expenses | 2.24B | 2.03B | 1.90B | 1.49B | 1.31B | 993.80M | 1.11B | 820.20M | 736.90M | 649.90M |
| Research & Development | — | — | — | — | — | — | — | — | — | 39.00M |
| Selling, General & Admin | 246.20M | 237.70M | 202.30M | 164.20M | 138.50M | 114.80M | 122.00M | 90.60M | 83.50M | 79.40M |
| Operating Income | 683.80M | 709.00M | 564.00M | 321.80M | 284.40M | 60.20M | 215.70M | 188.80M | 145.70M | 172.50M |
| Interest Expense | 297.70M | 289.80M | 268.40M | 147.30M | 84.70M | 80.00M | 70.90M | 40.10M | 49.30M | 43.70M |
| Other Income (Expense) | -151.40M | -135.80M | -2.20M | 287.00M | 59.20M | -52.20M | -19.30M | 45.10M | -43.20M | -25.10M |
| Pretax Income | 532.40M | 573.20M | 561.80M | 608.80M | 343.60M | 8.00M | 196.40M | 233.90M | 102.50M | 147.40M |
| Income Tax | 146.90M | 144.10M | 144.50M | 169.40M | 94.50M | -5.30M | 56.80M | 51.30M | -19.90M | 50.70M |
| Net Income | 383.00M | 426.80M | 417.30M | 439.40M | 249.10M | -81.90M | 137.50M | 352.80M | 140.50M | 108.10M |
| Net Income growth (YoY) | -10.26% | +2.28% | -5.03% | +76.40% | — | -159.56% | -61.03% | +151.10% | +29.97% | +65.80% |
| EPS (Basic) | 5.32 | 5.73 | 5.55 | 5.79 | 3.22 | -2.07 | 3.43 | 8.54 | 2.97 | 2.17 |
| EPS (Diluted) | 5.29 | 5.68 | 5.49 | 5.71 | 3.18 | -2.08 | 3.38 | 8.48 | 2.92 | 2.14 |
| Shares Outstanding (Basic) | 71.40M | 74.00M | 75.20M | 75.90M | 77.20M | 39.60M | 40.10M | 41.30M | 47.20M | 49.30M |
| Shares Outstanding (Diluted) | 71.80M | 74.60M | 76.10M | 77.00M | 78.40M | 40.10M | 40.60M | 41.60M | 48.00M | 50.50M |
| EBITDA | 916.90M | 908.10M | 733.00M | 435.50M | 387.60M | 153.10M | 312.10M | 252.40M | 242.80M | 281.10M |
| Operating Margin | 23.37% | 25.93% | 22.91% | 17.78% | 17.81% | 5.71% | 16.22% | 18.71% | 16.51% | 20.98% |
| Net Margin | 13.09% | 15.61% | 16.95% | 24.28% | 15.60% | -7.77% | 10.34% | 34.97% | 15.92% | 13.14% |
This table shows 10 annual periods of Churchill Downs's income statement, from FY 2025 back to FY 2016, across 17 line items including revenue, operating expenses, research & development. Values in USD; B = billions, M = millions. Fiscal periods follow CHDN's reporting calendar. What is a income statement?