What is Churchill Downs's net margin?

Churchill Downs (CHDN) reported net margin of 13.2% in Q1 2026.

How has Churchill Downs's net margin changed year-over-year?

Churchill Downs's net margin decreased by 13.0% year-over-year, from 15.2% to 13.2%.

What is the long-term trend for Churchill Downs's net margin?

Over 4 years (2021 to 2025), Churchill Downs's net margin has grown at a -4.3% compound annual growth rate (CAGR), from 15.6% to 13.1%.

What does net margin mean?

Net income as a percentage of revenue (trailing twelve months). The bottom-line profitability measure after all costs, interest, and taxes.

Churchill Downs CHDN Net margin

Net margin at other companies

MGM Resorts InternationalMGM

1%-2.9pp

Caesars Entertainment, Inc.CZR

-4.2%+52.8pp

DraftKings Inc.DKNG

0.9%+0.5pp

Boyd GamingBYD

44.8%+30.9pp

Wynn ResortsWYNN

5.1%-1.0pp

Flutter EntertainmentFLUT

-3.2%-7.9pp

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

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

Calculated from Churchill Downs’s reported figures.

net income/total revenue=13.2%

Based on trailing twelve months.

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 net margin?: Churchill Downs (CHDN) reported net margin of 13.2% in Q1 2026.
How has Churchill Downs's net margin changed year-over-year?: Churchill Downs's net margin decreased by 13.0% year-over-year, from 15.2% to 13.2%.
What is the long-term trend for Churchill Downs's net margin?: Over 4 years (2021 to 2025), Churchill Downs's net margin has grown at a -4.3% compound annual growth rate (CAGR), from 15.6% to 13.1%.
What does net margin mean?: Net income as a percentage of revenue (trailing twelve months). The bottom-line profitability measure after all costs, interest, and taxes.