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Churchill Downs CHDN Live and Historical — Gaming Taxes

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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%
Enterprise value$7.71B-19.3%
P/E15.8×-3.1×
P/S2.1×-0.8×

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:GamingTaxes.

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 — gaming taxes?
Churchill Downs (CHDN) reported live and historical — gaming taxes of $2M in Q1 2026.
How has Churchill Downs's live and historical — gaming taxes changed year-over-year?
Churchill Downs's live and historical — gaming taxes decreased by 0.0% year-over-year, from $2M to $2M.
What is the long-term trend for Churchill Downs's live and historical — gaming taxes?
Over 3 years (2022 to 2025), Churchill Downs's live and historical — gaming taxes has grown at a 74.7% compound annual growth rate (CAGR), from $1.5M to $8M.
What does live and historical — gaming taxes mean?
This metric captures the specific tax obligations incurred from historical racing machine operations and other gaming activities within the segment. These taxes are typically levied as a percentage of gross gaming revenue and are a critical component of the segment's operating cost structure. Changes in this metric often reflect shifts in gaming volume or changes in state-level tax legislation.