What is Churchill Downs's legal reserves?

Churchill Downs (CHDN) reported legal reserves of $0 in Q4 2025.

What is the long-term trend for Churchill Downs's legal reserves?

Over 3 years (2022 to 2025), Churchill Downs's legal reserves has grown at a -100.0% compound annual growth rate (CAGR), from $3.8M to $0.

What does legal reserves mean?

The financial reserves or provisions set aside to cover potential liabilities arising from legal disputes, regulatory investigations, or litigation. This metric highlights the company's exposure to legal risks and the potential impact on future cash flows.

Churchill Downs CHDN Legal reserves

Legal reserves at other companies

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$2M—

Enact Holdings, Inc.ACT

$5.99M+18.6%

Kulicke & Soffa IndustriesKLIC

$20.04M-0.5%

McKessonMCK

-$15M0.0%

Oscar HealthOSCR

$1.73B+18.3%

American International GroupAIG

$130M+18.2%

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:LegalFeesIncome.

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 legal reserves?: Churchill Downs (CHDN) reported legal reserves of $0 in Q4 2025.
What is the long-term trend for Churchill Downs's legal reserves?: Over 3 years (2022 to 2025), Churchill Downs's legal reserves has grown at a -100.0% compound annual growth rate (CAGR), from $3.8M to $0.
What does legal reserves mean?: The financial reserves or provisions set aside to cover potential liabilities arising from legal disputes, regulatory investigations, or litigation. This metric highlights the company's exposure to legal risks and the potential impact on future cash flows.