Churchill Downs Cash Flow Statement
NASDAQ: CHDNConsumer DiscretionaryServices-Misc. Amusement & RecreationUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
Churchill Downs free cash flow
In fiscal 2025, Churchill Downs generated $769.8 million of operating cash flow and spent $70.2 million on capital expenditures. That left free cash flow of $699.6 million, a free-cash-flow margin of 23.9% of revenue. Free cash flow was up 1.7% from the prior year's $688.1 million.
Churchill Downs returned $458.6 million to shareholders: $30.8 million in dividends and $427.8 million in share repurchases, equal to 66% of free cash flow. Free cash flow covered dividend payments 22.7 times.
Summary generated from market data by MetaCap's automated system. Methodology
Churchill Downs cash flow 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | 385.50M | 429.10M | 417.30M | 439.40M | 249.10M | -82.10M | 137.20M | 352.80M | 140.50M | 108.10M |
| Net Income growth (YoY) | -10.16% | +2.83% | -5.03% | +76.40% | — | -159.84% | -61.11% | +151.10% | +29.97% | +65.80% |
| Depreciation & Amortization | 233.10M | 199.10M | 169.00M | 113.70M | 103.20M | 92.90M | 96.40M | 63.60M | 97.10M | 108.60M |
| Stock-Based Compensation | 30.20M | 36.10M | 32.90M | 31.80M | 27.80M | 23.70M | 23.80M | 21.10M | 27.10M | 18.90M |
| Change in Working Capital | -2.80M | -12.10M | 34.20M | -12.70M | 10.70M | 115.70M | -9.30M | -10.30M | 6.80M | 7.70M |
| Operating Cash Flow | 769.80M | 771.70M | 605.30M | 510.80M | 459.50M | 141.90M | 289.60M | 197.80M | 215.10M | 231.40M |
| Capital Expenditures | -70.20M | -83.60M | -77.70M | -50.20M | -39.50M | -211.20M | -82.90M | -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 |
| Dividends Paid | -30.80M | -29.20M | -27.10M | -26.00M | -24.80M | -23.40M | -22.20M | -23.70M | -21.50M | -19.10M |
| Share Repurchases | -427.80M | -186.00M | -55.90M | -174.90M | -297.50M | -28.40M | -95.00M | -531.40M | -180.90M | -39.00M |
| Debt Issued | 1.10B | 965.50M | 1.77B | 2.86B | 780.80M | 726.10M | 1.24B | 135.00M | 2.05B | 727.10M |
| Debt Repaid | — | — | — | — | — | — | — | -381.00M | -1.84B | -588.40M |
| 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 | -21.20M |
| Free Cash Flow | 699.60M | 688.10M | 527.60M | 460.60M | 420.00M | -69.30M | 206.70M | 168.20M | 181.80M | 200.50M |
This table shows 10 annual periods of Churchill Downs's cash flow statement, from FY 2025 back to FY 2016, across 14 line items including net income, depreciation & amortization, stock-based compensation. Values in USD; B = billions, M = millions. Fiscal periods follow CHDN's reporting calendar. What is a cash flow statement?