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Churchill Downs CHDN Live and Historical — Content Expense

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Other financials

Income statement

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Revenue$663.0M+3.1%
Operating income$143.0M+5.9%
Net income$83.0M+7.8%
EPS (diluted)$1.16+13.7%

Balance sheet

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Cash & equivalents$291.0M+7.4%
Total debt$1.8B+2.6%
Total equity$1.1B+2.2%
Total assets$7.5B+1.9%

Cash flow

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Operating cash flow$295.0M+19.4%
CapEx$19.0M+46.2%
Free cash flow$276.0M+17.9%

Valuation

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Market cap$6.15B-23.3%

Profitability

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Operating margin23.5%-2.3pp
Net margin13.2%-2.0pp
FCF margin25.2%+0.8pp

Returns & leverage

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Return on equity35.9%-8.7pp
Debt / equity1.7×0.0×
Current ratio0.5×0.0×

Where this comes from

Reported directly by Churchill Downs in its filing.

Tagged under the XBRL concept chdn:ContentExpense.

The official record: Churchill Downs’s 10-Q, filed April 22, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Churchill Downs's live and historical — content expense?
Churchill Downs (CHDN) reported live and historical — content expense of $1M in Q1 2026.
How has Churchill Downs's live and historical — content expense changed year-over-year?
Churchill Downs's live and historical — content expense decreased by 0.0% year-over-year, from $1M to $1M.
What is the long-term trend for Churchill Downs's live and historical — content expense?
Over 4 years (2021 to 2025), Churchill Downs's live and historical — content expense has grown at a 23.9% compound annual growth rate (CAGR), from $2.5M to $5.9M.
What does live and historical — content expense mean?
This metric represents the costs associated with acquiring or producing racing content, such as broadcast rights, simulcast fees, or proprietary data feeds. It is a key operational expense for delivering a compelling wagering experience to customers. Efficient management of content costs is essential for maintaining profitability in the pari-mutuel wagering business.