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Churchill Downs CHDN Live and Historical — Net revenue

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$270M+1.4%

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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 us-gaap:Revenues.

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
Revenues$575$178$270
Pari-mutuel taxes and purses(119)(8)(7)
Gaming taxes(2)(1)(81)
Marketing and advertising(16)(6)(8)
Salaries and benefits(38)(9)(41)
Content expense(1)(78)(2)
Selling, general and administrative expense(14)(4)(12)
Maintenance, insurance and utilities(13)(3)(9)

Item 1. Financial Statements (Unaudited)

FAQ

What is Churchill Downs's live and historical — net revenue?
Churchill Downs (CHDN) reported live and historical — net revenue of $575M in Q2 2026.
How has Churchill Downs's live and historical — net revenue changed year-over-year?
Churchill Downs's live and historical — net revenue increased by 6.3% year-over-year, from $540.9M to $575M.
What is the long-term trend for Churchill Downs's live and historical — net revenue?
Over 4 years (2021 to 2025), Churchill Downs's live and historical — net revenue has grown at a 35.3% compound annual growth rate (CAGR), from $430.6M to $1.44B.
What does live and historical — net revenue mean?
The total income generated from live and historical racing activities after deducting promotional allowances and other contra-revenue items. This is the primary measure of the segment's top-line performance and market demand.

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