What does non-deductible officer's compensation mean?

Reflects the specific tax expense impact arising from non-deductible officer compensation components. Monitoring this helps investors understand the effective tax rate implications of the company's executive pay strategy.

Churchill Downs CHDN Non-deductible officer's compensation

Non-deductible officer's compensation at other companies

GATXGATX

1.5%+0.4pp

GATXGATX

$1.08M+53.6%

Cavco IndustriesCVCO

$790K—

TFS FinancialTFSL

1.1%-0.1pp

Hyatt HotelsH

$9.25M—

ServiceNowNOW

$8M+14.3%

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:EffectiveIncomeTaxReconciliationNondeductibleExpenseOfficerCompensationPercent.

The official record: Churchill Downs’s 10-K, filed February 25, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Churchill Downs's non-deductible officer's compensation?: Churchill Downs (CHDN) reported non-deductible officer's compensation of 1.2% in Q4 2025.
What does non-deductible officer's compensation mean?: Reflects the specific tax expense impact arising from non-deductible officer compensation components. Monitoring this helps investors understand the effective tax rate implications of the company's executive pay strategy.