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Churchill Downs CHDN Pari-mutuel, live and simulcast racing — Net revenue

Other product segments

Gaming
$257M-2.3%
Pari-mutuel, historical racing
$257M+4.5%
Racing event-related services
$2M0.0%

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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 us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

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 pari-mutuel, live and simulcast racing — net revenue?
Churchill Downs (CHDN) reported pari-mutuel, live and simulcast racing — net revenue of $102M in Q1 2026.
How has Churchill Downs's pari-mutuel, live and simulcast racing — net revenue changed year-over-year?
Churchill Downs's pari-mutuel, live and simulcast racing — net revenue decreased by 0.0% year-over-year, from $102M to $102M.
What is the long-term trend for Churchill Downs's pari-mutuel, live and simulcast racing — net revenue?
Over 4 years (2021 to 2025), Churchill Downs's pari-mutuel, live and simulcast racing — net revenue has grown at a -0.6% compound annual growth rate (CAGR), from $502.6M to $491.5M.
What does pari-mutuel, live and simulcast racing — net revenue mean?
This metric represents the total net revenue generated from live horse racing events, pari-mutuel wagering, and simulcast broadcasting services. It captures the financial performance of the company's core racing operations, excluding intersegment eliminations and other non-racing activities. This figure serves as a primary indicator of the health and consumer demand for the company's traditional racing and wagering business model.