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Churchill Downs CHDN Debt-to-equity

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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
Current ratio0.4×-0.2×

Where this comes from

Calculated from Churchill Downs’s reported figures.

Based on the most recent quarter.

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

Filed
Jul 29, 2026, 4:31 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0000020212-26-000059

FAQ

What is Churchill Downs's debt-to-equity?
Churchill Downs (CHDN) reported debt-to-equity of 1.7× in Q2 2026.
How has Churchill Downs's debt-to-equity changed year-over-year?
Churchill Downs's debt-to-equity decreased by 7.7% year-over-year, from 1.8× to 1.7×.
What is the long-term trend for Churchill Downs's debt-to-equity?
Over 5 years (2020 to 2025), Churchill Downs's debt-to-equity has grown at a 86.7% compound annual growth rate (CAGR), from 0.1× to 2.1×.
What does debt-to-equity mean?
Total debt (including capitalized leases and financing obligations) divided by shareholders' equity at the quarter end. Measures how much the company is financed by debt relative to equity.

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