Churchill Downs Incorporated (CHDN) — Financial statements
Income statement, balance sheet, and cash flow for Churchill Downs Incorporated — annual and quarterly history with growth and margin analysis.
| Metric (USD Millions) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
| Revenue & Gross Profit | ||||||
| Revenue | 2,926↑7.0% | 2,734↑11.1% | 2,462↑36.0% | 1,810↑13.3% | 1,597 | |
| Cost of Revenue | 1,943↑8.2% | 1,796↑7.8% | 1,666↑34.0% | 1,243↑8.0% | 1,151 | |
| Gross Profit | 983↑4.7% | 939↑17.9% | 796↑40.5% | 566↑27.0% | 446 | |
| Operating Expenses | ||||||
| R&D Expenses | 0.00 | 0.00↓100.0% | 11 | 0.00 | 0.00 | |
| General & Administrative Expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Selling & Marketing Expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| SG&A Expenses | 246↑3.6% | 238↑17.5% | 202↑23.2% | 164↑18.6% | 139 | |
| Other Expenses | 0.00↑100.0% | -8↓145.1% | 18↓77.4% | 80↑246.6% | 23 | |
| Operating Expenses | 246↑7.3% | 230↓0.9% | 232↓5.3% | 245↑51.3% | 162 | |
| Total Costs & Expenses | 2,190↑8.1% | 2,025↑6.7% | 1,898↑27.5% | 1,488↑13.3% | 1,313 | |
| Operating Results | ||||||
| Operating Income | 736↑3.9% | 709↑25.7% | 564↑75.3% | 322↑13.2% | 284 | |
| Depreciation & Amortization | 240↑17.0% | 205↑16.8% | 175↑47.2% | 119↑9.7% | 109 | |
| EBITDA | 1,070↑0.2% | 1,068↑6.2% | 1,005↑14.9% | 875↑63.0% | 537 | |
| EBIT | 830↓3.8% | 863↑4.0% | 830↑9.8% | 756↑76.5% | 428 | |
| Interest & Other Income | ||||||
| Net Interest Income | -298↓2.7% | -290↓8.0% | -268↓82.2% | -147↓73.9% | -85 | |
| Interest Income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Interest Expense | 298↑2.7% | 290↑8.0% | 268↑82.2% | 147↑73.9% | 85 | |
| Non-Operating Income | -94↑39.2% | -154↑42.1% | -266↑38.7% | -434↓201.8% | -144 | |
| Other Income / Expenses | -204↓50.2% | -136↓6072.7% | -2↓100.8% | 287↑384.8% | 59 | |
| Income Before Tax | 532↓7.1% | 573↑2.0% | 562↓7.7% | 609↑77.2% | 344 | |
| Income Tax Expense | 147↑1.9% | 144↓0.3% | 145↓14.7% | 169↑79.3% | 95 | |
| Net Income & EPS | ||||||
| Net Income from Continuing Operations | 386↓10.2% | 429↑2.8% | 417↓5.0% | 439↑76.4% | 249 | |
| Net Income from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net Income | 380↓11.0% | 427↑2.3% | 417↓5.0% | 439↑76.4% | 249 | |
| Bottom-Line Net Income | 380↓11.0% | 427↑2.3% | 417↓5.0% | 439↑76.4% | 249 | |
| EPS (Basic) | 5.36↓6.5% | 5.73↑3.2% | 5.55↓4.3% | 5.80↑79.6% | 3.23 | |
| EPS (Diluted) | 5.32↓6.3% | 5.68↑3.6% | 5.48↓4.0% | 5.71↑79.6% | 3.18 | |
| Weighted Average Shares | 71↓4.3% | 74↓1.6% | 75↓0.8% | 76↓1.8% | 77 | |
| Weighted Average Diluted Shares | 71↓4.3% | 75↓2.0% | 76↓1.2% | 77↓1.8% | 78 | |
* All figures in Millions of USD, except per share data. Growth rates calculated Year-over-Year (YoY). Data source: SEC Filings.