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Churchill Downs CHDN Operating Cash Flow

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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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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:NetCashProvidedByUsedInOperatingActivities.

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)Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Income taxes5581
Deferred revenue(31)(37)
Other assets and liabilities(10)14
Net cash provided by operating activities512487
Cash flows from investing activities:
Capital maintenance expenditures(38)(32)
Capital project expenditures(79)(133)
Other(2)(1)

Item 1. Financial Statements (Unaudited)

FAQ

What is Churchill Downs's operating cash flow?
Churchill Downs (CHDN) reported operating cash flow of $217M in Q2 2026.
How has Churchill Downs's operating cash flow changed year-over-year?
Churchill Downs's operating cash flow decreased by 9.8% year-over-year, from $240.5M to $217M.
What is the long-term trend for Churchill Downs's operating cash flow?
Over 4 years (2021 to 2025), Churchill Downs's operating cash flow has grown at a 13.8% compound annual growth rate (CAGR), from $459.5M to $769.8M.
What does operating cash flow mean?
Total cash generated by or used in core business operations — the single most important cash flow metric for assessing business health.

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