What is Churchill Downs's transaction expense, net?

Churchill Downs (CHDN) reported transaction expense, net of $1M in Q1 2026.

What is the long-term trend for Churchill Downs's transaction expense, net?

Over 4 years (2021 to 2025), Churchill Downs's transaction expense, net has grown at a -12.2% compound annual growth rate (CAGR), from $7.9M to $4.7M.

What does transaction expense, net mean?

Reflects net expenses incurred during the execution of mergers, acquisitions, or divestitures, including professional fees and integration costs. This provides insight into the capital intensity and overhead associated with inorganic growth strategies.

Churchill Downs CHDN Transaction expense, net

Transaction expense, net at other companies

Caesars Entertainment, Inc.CZR

$4M+100%

Avis Budget GroupCAR

$6M—

Loar HoldingsLOAR

$1.24M+169%

Wyndham Hotels & Resorts, Inc.WH

$3M+200%

Chimera Investment Corp.CIM

$98K-98.3%

EPR PropertiesEPR

$293K-48.3%

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

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 chdn:AcquisitionRelatedContingentConsiderationCosts.

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 transaction expense, net?: Churchill Downs (CHDN) reported transaction expense, net of $1M in Q1 2026.
What is the long-term trend for Churchill Downs's transaction expense, net?: Over 4 years (2021 to 2025), Churchill Downs's transaction expense, net has grown at a -12.2% compound annual growth rate (CAGR), from $7.9M to $4.7M.
What does transaction expense, net mean?: Reflects net expenses incurred during the execution of mergers, acquisitions, or divestitures, including professional fees and integration costs. This provides insight into the capital intensity and overhead associated with inorganic growth strategies.