Churchill Downs Incorporated (CHDN)

Churchill Downs Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Operating Revenue	2,884	2,734	2,462	1,810	1,597	1,054
Revenue	2,884	2,734	2,462	1,810	1,597	1,054
Revenue Growth (YoY)	7.97%	11.07%	36.02%	13.31%	51.54%	-20.73%
Cost of Revenue	1,919	1,796	1,666	1,243	1,151	860.5
Gross Profit	965.6	938.5	795.7	566.4	446.1	193.5
Selling, General & Admin	240.4	237.7	202.3	164.2	138.5	114.8
Operating Expenses	240.4	237.7	202.3	164.2	138.5	114.8
Operating Income	725.2	700.8	593.4	402.2	307.6	78.7
Interest Expense	-294.9	-289.8	-268.4	-147.3	-84.7	-80
Earnings From Equity Investments	141.4	144.9	146.3	152.7	143.2	27.7
Other Non Operating Income (Expenses)	6.5	9.1	7.2	7	0.7	0.1
EBT Excluding Unusual Items	578.2	565	478.5	414.6	366.8	26.5
Gain (Loss) on Sale of Assets	-	-	114	274.6	-	-
Asset Writedown	-87.5	-3.9	-24.6	-38.3	-15.3	-17.5
Other Unusual Items	49.4	12.1	-6.1	-42.1	-7.9	-1
Pretax Income	540.1	573.2	561.8	608.8	343.6	8
Income Tax Expense	133.8	144.1	144.5	169.4	94.5	-5.3
Earnings From Continuing Operations	406.3	429.1	417.3	439.4	249.1	13.3
Earnings From Discontinued Operations	-	-	-	-	-	-95.4
Net Income to Company	406.3	429.1	417.3	439.4	249.1	-82.1
Minority Interest in Earnings	-2.9	-2.3	-	-	-	0.2
Net Income	403.4	426.8	417.3	439.4	249.1	-81.9
Net Income to Common	403.4	426.8	417.3	439.4	249.1	-81.9
Net Income Growth	-2.25%	2.28%	-5.03%	76.39%	-	-
Shares Outstanding (Basic)	72	74	75	76	77	79
Shares Outstanding (Diluted)	73	75	76	77	78	80
Shares Change (YoY)	-2.01%	-1.97%	-1.17%	-1.79%	-2.24%	-1.23%
EPS (Basic)	5.57	5.77	5.55	5.79	3.23	-1.03
EPS (Diluted)	5.53	5.72	5.49	5.71	3.18	-1.02
EPS Growth	0.29%	4.21%	-3.85%	79.56%	-	-
Free Cash Flow	450.4	225.7	-70.7	113.3	243.7	-92.3
Free Cash Flow Per Share	6.17	3.02	-0.93	1.47	3.11	-1.15
Dividend Per Share	0.409	0.409	0.382	0.357	0.334	0.311
Dividend Growth	7.07%	7.07%	7.00%	6.89%	7.40%	7.06%
Gross Margin	33.48%	34.32%	32.32%	31.30%	27.93%	18.36%
Operating Margin	25.14%	25.63%	24.10%	22.22%	19.26%	7.47%
Profit Margin	13.99%	15.61%	16.95%	24.28%	15.60%	-7.77%
Free Cash Flow Margin	15.62%	8.25%	-2.87%	6.26%	15.26%	-8.76%
EBITDA	939.1	886.9	751.2	505.2	400.5	162.2
EBITDA Margin	32.56%	32.44%	30.51%	27.91%	25.07%	15.39%
D&A For EBITDA	213.9	186.1	157.8	103	92.9	83.5
EBIT	725.2	700.8	593.4	402.2	307.6	78.7
EBIT Margin	25.14%	25.63%	24.10%	22.22%	19.26%	7.47%
Effective Tax Rate	24.77%	25.14%	25.72%	27.82%	27.50%	-
Revenue as Reported	2,884	2,734	2,462	1,810	1,597	1,054

Updated Oct 22, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q