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Churchill Downs CHDN Gaming — Food And Beverage Expense

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Other financials

Income statement

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Revenue$980.0M+4.9%
Operating income$357.0M+8.9%
Net income$241.0M+11.1%
EPS (diluted)$3.42+14.4%

Balance sheet

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Cash & equivalents$295.0M+3.3%
Total debt$2.3B+18.9%
Total equity$1.3B+28.7%
Total assets$7.5B+2.0%

Cash flow

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Operating cash flow$217.0M-9.8%
CapEx$19.0M+0.5%
Free cash flow$198.0M-10.6%

Valuation

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Market cap$6.06B-15.6%
Enterprise value$8.05B-8.7%
P/E14.7×-2.0×
P/S-0.5×

Profitability

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Operating margin24.1%-1.2pp
Net margin13.8%-1.4pp
FCF margin24%-1.0pp

Returns & leverage

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Return on equity34.7%-6.9pp
Debt / equity1.7×-0.1×
Current ratio0.4×-0.2×

Where this comes from

Reported directly by Churchill Downs in its filing.

Tagged under the XBRL concept chdn:FoodAndBeverageExpense.

The source filing: Churchill Downs’s 10-Q, filed July 29, 2026.

Filed
Jul 29, 2026, 4:31 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0000020212-26-000059
(in millions)Live and Historical RacingWagering Services and SolutionsGaming
Selling, general and administrative expense(14)(4)(12)
Maintenance, insurance and utilities(13)(3)(9)
Gaming equipment rental and technology costs(13)(2)(5)
Food and beverage costs(4)(4)
Other operating expense(1)(37)(15)(18)
Equity in income of unconsolidated affiliates50
Other income
Adjusted EBITDA$318$52$133

Item 1. Financial Statements (Unaudited)

FAQ

What is Churchill Downs's gaming — food and beverage expense?
Churchill Downs (CHDN) reported gaming — food and beverage expense of $4M in Q2 2026.
How has Churchill Downs's gaming — food and beverage expense changed year-over-year?
Churchill Downs's gaming — food and beverage expense decreased by 2.4% year-over-year, from $4.1M to $4M.
What is the long-term trend for Churchill Downs's gaming — food and beverage expense?
Over 3 years (2022 to 2025), Churchill Downs's gaming — food and beverage expense has grown at a 17.9% compound annual growth rate (CAGR), from $10M to $16.4M.
What does gaming — food and beverage expense mean?
Represents the direct costs associated with providing food and beverage services to patrons within gaming properties. This metric helps evaluate the profitability and operational efficiency of the non-gaming amenities that support the primary gaming business.

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