Churchill Downs Incorporated (CHDN)
NASDAQ: CHDN · Real-Time Price · USD
98.18
+0.18 (0.18%)
Nov 5, 2026, 4:00 PM EST - Market closed
Churchill Downs Cash Flow Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Net Income | 455 | 383 | 426.8 | 417.3 | 439.4 | 249.1 |
Depreciation & Amortization | 228.7 | 226.7 | 191.7 | 164 | 108.3 | 98.2 |
Other Amortization | 12.8 | 12.8 | 13 | 11.2 | 10.7 | 10.3 |
Loss (Gain) From Sale of Assets | - | - | - | -114 | -274.6 | - |
Asset Writedown & Restructuring Costs | -0.5 | 87.5 | 3.9 | 24.6 | 38.3 | 15.3 |
Loss (Gain) on Equity Investments | -18.4 | -23.4 | -6.2 | 8.8 | 4.2 | -33.8 |
Stock-Based Compensation | 31.2 | 30.2 | 36.1 | 32.9 | 31.8 | 27.8 |
Other Operating Activities | 101.1 | 58.1 | 56.5 | 52.8 | 116.1 | 15.1 |
Change in Unearned Revenue | 2.2 | -2.8 | -12.1 | 34.2 | -12.7 | 10.7 |
Change in Income Taxes | -25.5 | -3.5 | -4.5 | -1.1 | 28.2 | 12.9 |
Change in Other Net Operating Assets | -30.8 | 1.2 | 66.5 | -25.4 | 21.1 | 53.9 |
Operating Cash Flow | 755.8 | 769.8 | 772.7 | 605.8 | 536.8 | 335.5 |
Operating Cash Flow Growth | -6.07% | -0.38% | 27.55% | 12.85% | 60.00% | 136.43% |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Capital Expenditures | -225.9 | -274.9 | -547 | -676.5 | -423.5 | -91.8 |
Cash Acquisitions | - | - | - | -241.3 | -2,919 | - |
Sale (Purchase) of Intangibles | -0.3 | -185.3 | - | - | -33.3 | - |
Sale (Purchase) of Real Estate | - | - | - | 195.7 | 279 | - |
Other Investing Activities | -2.3 | -11.3 | 1.8 | 4.1 | -7.4 | -8.6 |
Investing Cash Flow | -228.5 | -471.5 | -545.2 | -718 | -3,104 | -100.4 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Short-Term Debt Issued | - | - | - | 2 | 13.3 | - |
Long-Term Debt Issued | - | 1,098 | 965.5 | 1,771 | 2,862 | 780.8 |
Total Debt Issued | 1,424 | 1,098 | 965.5 | 1,773 | 2,876 | 780.8 |
Short-Term Debt Repaid | - | -2.3 | -10.9 | - | - | -10.5 |
Long-Term Debt Repaid | - | -881.7 | -900.8 | -1,536 | -205.4 | -430.9 |
Total Debt Repaid | -1,801 | -884 | -911.7 | -1,536 | -205.4 | -441.4 |
Net Debt Issued (Repaid) | -376.9 | 214.1 | 53.8 | 237.1 | 2,670 | 339.4 |
Issuance of Common Stock | - | - | - | 14.4 | - | - |
Repurchase of Common Stock | -91.8 | -444.8 | -216.1 | -81.4 | -203.3 | -310.4 |
Common Dividends Paid | -31.8 | -30.8 | -29.2 | -27.1 | -26 | -24.8 |
Other Financing Activities | -37 | -1 | -5.1 | -13.7 | -25 | -4.7 |
Financing Cash Flow | -537.5 | -262.5 | -196.6 | 129.3 | 2,416 | -0.5 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Net Cash Flow | -10.2 | 35.8 | 30.9 | 17.1 | -150.9 | 234.6 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Free Cash Flow | 529.9 | 494.9 | 225.7 | -70.7 | 113.3 | 243.7 |
Free Cash Flow Growth | 17.70% | 119.27% | - | - | -53.51% | - |
Free Cash Flow Margin | 17.64% | 16.91% | 8.25% | -2.87% | 6.26% | 15.26% |
Free Cash Flow Per Share | 7.58 | 6.89 | 3.02 | -0.93 | 1.47 | 3.11 |
Levered Free Cash Flow | 335.31 | 82.19 | -52.33 | -201.48 | 35.41 | 109.11 |
Unlevered Free Cash Flow | 514.5 | 268.25 | 128.8 | -33.73 | 127.48 | 162.05 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Cash Interest Paid | 274.5 | 294.5 | 306.8 | 283.6 | 133.6 | 77.5 |
Cash Income Tax Paid | 112.6 | 63.6 | 103 | 98.2 | 7 | 72.4 |
Change in Working Capital | -54.1 | -5.1 | 49.9 | 7.7 | 36.6 | 77.5 |