Company research
Churchill Downs Inc
CIK 20212Updated Oct 6, 2026
SecurityCHDN · NASDAQ · equity
CHDN price & chart
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NASDAQ:CHDN on TradingView ↗About the company
Churchill Downs Incorporated (“CDI”) (Nasdaq: CHDN) has created extraordinary entertainment experiences for over 150 years, beginning with the Company’s most iconic and enduring asset, Churchill Downs Racetrack, the home of the Kentucky Derby and premier races of the Thoroughbred Championship Series. Headquartered in Louisville, Kentucky, CDI has expanded through the acquisition, development, and operation of live and historical racing entertainment venues, the growth of the online wagering businesses, and the acquisition, development, and operation of regional casino gaming properties. https://www.churchilldownsincorporated.com/
In the news
Churchill Downs Incorporated Announces Launch of $500 Million Senior Secured Term Loan B Due 2033 ↗
Recent filings
Entry into a Material Definitive Agreement · Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement · Regulation FD Disclosure
Items 1.01, 2.03, 7.01, 9.01
SCHEDULE 13G - filed by VANGUARD CAPITAL MANAGEMENT LLC regarding Churchill Downs Inc
10-Q filing
Results of Operations and Financial Condition
Items 2.02, 9.01
Other Events
Items 8.01, 9.01
Show 5 more recent filings
Financials
FY 2025 · USDSource
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balance sheet · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| ASSETS | ||||
| AssetsUSD | 7,484,500,000Source | 7,275,900,000Source | 6,955,500,000Source | 6,206,800,000Source |
| Property, Plant and Equipment, NetUSD | 2,881,300,000Source | 2,851,900,000Source | 2,538,400,000Source | 1,946,400,000Source |
| GoodwillUSD | 900,200,000Source | 900,200,000Source | 899,900,000Source | 723,800,000Source |
| Intangible Assets, Net (Excluding Goodwill)USD | 2,515,300,000Source | 2,409,000,000Source | 2,418,400,000Source | 2,391,800,000Source |
| Current assets: | ||||
| Cash and Cash Equivalents, at Carrying ValueUSD | 200,600,000Source | 175,500,000Source | 144,500,000Source | 129,800,000Source |
| Accounts Receivable, after Allowance for Credit Loss, CurrentUSD | 93,500,000Source | 98,700,000Source | 106,900,000Source | 81,500,000Source |
| Inventory, NetUSD | 11,900,000Source | 11,600,000Source | — | — |
| Assets, CurrentUSD | 443,200,000Source | 412,300,000Source | 400,800,000Source | 344,500,000Source |
| Operating Lease, Right-of-Use AssetUSD | 37,300,000Source | 23,000,000Source | 22,800,000Source | 31,900,000Source |
| Other Assets, NoncurrentUSD | 22,600,000Source | 18,300,000Source | 19,300,000Source | 27,000,000Source |
| LIABILITIES AND EQUITY | ||||
| LiabilitiesUSD | 6,428,700,000Source | 6,172,600,000Source | 6,061,900,000Source | 5,655,300,000Source |
| Stockholders’ equity: | ||||
| Preferred Stock, Value, IssuedUSD | 0Source | 0Source | 0Source | 0Source |
| Common Stock, Value, IssuedUSD | 0Source | 0Source | 0Source | 0Source |
| Retained Earnings (Accumulated Deficit)USD | 1,010,700,000Source | 1,084,600,000Source | 894,500,000Source | 552,400,000Source |
| Stockholders' Equity Attributable to ParentUSD | 1,009,700,000Source | 1,083,600,000Source | 893,600,000Source | — |
| Liabilities and EquityUSD | 7,484,500,000Source | 7,275,900,000Source | 6,955,500,000Source | 6,206,800,000Source |
| Current liabilities: | ||||
| Liabilities, CurrentUSD | 733,300,000Source | 729,300,000Source | 755,800,000Source | 621,600,000Source |
| Operating Lease, Liability, CurrentUSD | 5,700,000Source | 5,600,000Source | 5,400,000Source | 7,000,000Source |
| Accounts Payable, CurrentUSD | 184,300,000Source | 180,300,000Source | 158,500,000Source | — |
| Operating Lease, Liability, NoncurrentUSD | 33,300,000Source | 17,900,000Source | 17,900,000Source | 26,000,000Source |
| Deferred Income Tax Liabilities, NetUSD | 519,900,000Source | 432,700,000Source | 388,200,000Source | 340,800,000Source |
| Other Liabilities, NoncurrentUSD | 93,000,000Source | 146,500,000Source | 137,800,000Source | 122,400,000Source |
| Additional Financial Items | ||||
| Deferred Tax Liabilities, NetUSD | 519,500,000Source | 432,700,000Source | 388,200,000Source | 340,800,000Source |
| Dividends Payable, CurrentUSD | 30,700,000Source | 31,000,000Source | 29,300,000Source | 27,000,000Source |
| Dividends PayableUSD | 30,700,000Source | 31,000,000Source | 29,300,000Source | 27,000,000Source |
| Long-term Debt, Current MaturitiesUSD | 63,100,000Source | 63,100,000Source | 68,000,000Source | 47,000,000Source |
| Long-term Debt, Excluding Current MaturitiesUSD | 5,067,100,000Source | 4,844,100,000Source | 4,768,300,000Source | 4,558,700,000Source |
| Redeemable Noncontrolling Interest, Equity, Carrying AmountUSD | 46,100,000Source | 19,700,000Source | — | — |
cash flow · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Cash flows from operating activities: | ||||
| Net Income (Loss), Including Portion Attributable to Noncontrolling InterestUSD | 385,500,000Source | 429,100,000Source | — | 439,400,000Source |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||
| Depreciation and amortization | — | — | — | — |
| Share-based Payment Arrangement, Noncash ExpenseUSD | 30,200,000Source | 36,100,000Source | 32,900,000Source | 31,800,000Source |
| Deferred Income Tax Expense (Benefit)USD | 86,800,000Source | 44,500,000Source | 47,400,000Source | 108,700,000Source |
| Cash flows from investing activities: | ||||
| Payments to Acquire Businesses, Net of Cash AcquiredUSD | 0Source | 0Source | 241,300,000Source | 2,918,500,000Source |
| Net Cash Provided by (Used in) Investing ActivitiesUSD | -471,500,000Source | -545,200,000Source | -718,000,000Source | -3,103,700,000Source |
| Payments for (Proceeds from) Other Investing ActivitiesUSD | 11,300,000Source | -1,800,000Source | -4,100,000Source | 7,400,000Source |
| Cash flows from financing activities: | ||||
| Payment, Tax Withholding, Share-based Payment ArrangementUSD | 17,000,000Source | 30,100,000Source | 25,500,000Source | 28,400,000Source |
| Payments for Repurchase of Common StockUSD | 427,800,000Source | 186,000,000Source | 55,900,000Source | 174,900,000Source |
| Net Cash Provided by (Used in) Financing ActivitiesUSD | -262,500,000Source | -196,600,000Source | 129,300,000Source | 2,416,000,000Source |
| Dividends paid | — | — | — | — |
| Proceeds from (Payments for) Other Financing ActivitiesUSD | -700,000Source | -2,500,000Source | -700,000Source | 2,300,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate EffectUSD | 35,800,000Source | 30,900,000Source | — | -150,900,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | 288,500,000Source | 252,700,000Source | 221,800,000Source | 204,700,000Source |
| Supplemental disclosure of cash flow information: | ||||
| Interest Paid, Excluding Capitalized Interest, Operating ActivitiesUSD | 294,500,000Source | 306,800,000Source | 283,600,000Source | 133,600,000Source |
| Income Taxes Paid, NetUSD | 63,600,000Source | — | — | — |
| Additional Financial Items | ||||
| Share-based Payment Arrangement, ExpenseUSD | 30,200,000Source | 36,100,000Source | 32,900,000Source | — |
| Amortization of Intangible AssetsUSD | 10,300,000Source | 11,100,000Source | 7,200,000Source | 4,700,000Source |
| DepreciationUSD | 222,800,000Source | 188,000,000Source | 161,800,000Source | 109,000,000Source |
| Dividends Payable, CurrentUSD | 30,700,000Source | 31,000,000Source | 29,300,000Source | 27,000,000Source |
| Dividends PayableUSD | 30,700,000Source | 31,000,000Source | 29,300,000Source | 27,000,000Source |
| Gain (Loss) on Disposition of AssetsUSD | 0Source | 0Source | 114,000,000Source | 274,600,000Source |
| GoodwillUSD | 900,200,000Source | 900,200,000Source | 899,900,000Source | 723,800,000Source |
| Income (Loss) from Continuing Operations, Net of Tax, Attributable to ParentUSD | — | — | — | 439,400,000Source |
| Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling InterestUSD | — | — | — | 439,400,000Source |
| Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling InterestUSD | — | — | — | 0Source |
| Income (Loss) from Discontinued Operations, Net of Tax, Attributable to ParentUSD | — | — | — | 0Source |
| Income (Loss) from Equity Method InvestmentsUSD | 139,400,000Source | 144,900,000Source | 146,300,000Source | 152,700,000Source |
| Income Tax Expense (Benefit)USD | 146,900,000Source | 144,100,000Source | 144,500,000Source | 169,400,000Source |
| InterestExpenseNonoperatingUSD | 297,700,000Source | 289,800,000Source | — | — |
| Net Income (Loss) Attributable to ParentUSD | 383,000,000Source | 426,800,000Source | 417,300,000Source | 439,400,000Source |
| Net Income (Loss) Attributable to Noncontrolling InterestUSD | 2,500,000Source | 2,300,000Source | — | 0Source |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | 379,700,000Source | 423,800,000Source | — | 439,400,000Source |
| Nonoperating Income (Expense)USD | -151,400,000Source | -135,800,000Source | -2,200,000Source | 287,000,000Source |
| Operating ExpensesUSD | 2,242,100,000Source | 2,025,300,000Source | 1,897,700,000Source | 1,488,000,000Source |
| Other Nonoperating Income (Expense)USD | 6,900,000Source | 9,100,000Source | — | — |
| Proceeds from Issuance of Long-term DebtUSD | 1,098,100,000Source | 965,500,000Source | 1,771,100,000Source | 2,862,400,000Source |
income statement · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Total RevenueUSD | 2,925,900,000Source | 2,734,300,000Source | 2,461,700,000Source | 1,809,800,000Source |
| Selling, General and Administrative ExpenseUSD | 246,200,000Source | 237,700,000Source | 202,300,000Source | 164,200,000Source |
| Operating Income (Loss)USD | 683,800,000Source | 709,000,000Source | 564,000,000Source | 321,800,000Source |
| Other Nonoperating Income (Expense)USD | 6,900,000Source | 9,100,000Source | — | — |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling InterestUSD | 532,400,000Source | 573,200,000Source | 561,800,000Source | 608,800,000Source |
| Income Tax Expense (Benefit)USD | 146,900,000Source | 144,100,000Source | 144,500,000Source | 169,400,000Source |
| Net Income (Loss) Attributable to Noncontrolling InterestUSD | 2,500,000Source | 2,300,000Source | — | 0Source |
| Net Income (Loss) Attributable to ParentUSD | 383,000,000Source | 426,800,000Source | 417,300,000Source | 439,400,000Source |
| Earnings Per Share, BasicUSD per share | — | — | 5.55Source | 11.58Source |
| Earnings Per Share, DilutedUSD per share | — | — | 5.49Source | 11.42Source |
| Weighted Average Number of Shares Outstanding, Basicshares | 71,400,000Source | 74,000,000Source | 75,200,000Source | 37,900,000Source |
| Weighted Average Number of Shares Outstanding, Dilutedshares | 71,800,000Source | 74,600,000Source | 76,100,000Source | 38,500,000Source |
| Interest Expense (non-operating)USD | 297,700,000Source | 289,800,000Source | — | — |
| Additional Financial Items | ||||
| Amortization of Intangible AssetsUSD | 10,300,000Source | 11,100,000Source | 7,200,000Source | 4,700,000Source |
| Business Combination, Acquisition Related CostsUSD | — | — | 4,800,000Source | — |
| Common Stock, Dividends, Per Share, DeclaredUSD per share | 0.44Source | 0.41Source | — | — |
| Current Income Tax Expense (Benefit)USD | 60,100,000Source | 99,600,000Source | 97,100,000Source | 60,700,000Source |
| Depreciation, Depletion and Amortization, NonproductionUSD | 233,100,000Source | 199,100,000Source | 169,000,000Source | 113,700,000Source |
| Income (Loss) from Continuing Operations, Net of Tax, Attributable to ParentUSD | — | — | — | 439,400,000Source |
| Income (Loss) from Continuing Operations before Income Taxes, DomesticUSD | — | 573,200,000Source | 561,800,000Source | 608,900,000Source |
| Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling InterestUSD | — | — | — | 439,400,000Source |
| Income (Loss) from Continuing Operations, Per Basic ShareUSD per share | 5.32Source | 5.73Source | — | 11.58Source |
| Income (Loss) from Continuing Operations, Per Diluted ShareUSD per share | 5.29Source | 5.68Source | — | 11.42Source |
| Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling InterestUSD | — | — | — | 0Source |
| Income (Loss) from Discontinued Operations, Net of Tax, Attributable to ParentUSD | — | — | — | 0Source |
| Income (Loss) from Equity Method InvestmentsUSD | 139,400,000Source | 144,900,000Source | 146,300,000Source | 152,700,000Source |
| Interest ExpenseUSD | — | — | 268,400,000Source | 147,300,000Source |
| Interest Income (Expense), NetUSD | -297,700,000Source | -289,800,000Source | -268,400,000Source | -147,300,000Source |
| Marketing and Advertising ExpenseUSD | 101,900,000Source | 90,700,000Source | 83,400,000Source | 52,900,000Source |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | 379,700,000Source | 423,800,000Source | — | 439,400,000Source |
| Nonoperating Income (Expense)USD | -151,400,000Source | -135,800,000Source | -2,200,000Source | 287,000,000Source |
| Operating ExpensesUSD | 2,242,100,000Source | 2,025,300,000Source | 1,897,700,000Source | 1,488,000,000Source |
Filing attachments
d166307dex991.htm · 8-K · 2026-09-28
Exhibit 99.1 FOR IMMEDIATE RELEASE Investor Contact: Sam Ullrich (502) 638-3906 Sam. Ullrich@kyderby.com Churchill Downs Incorporated Announces Closing of Amended and Extended Credit Facility and New Term Loan B Amended and Extended Credit Agreement for Revolver and Term Loan A Facility and Issued a New $500 Million Term Loan B LOUISVILLE, Ky., (September 28, 2026) - Churchill Downs Incorporated (Nasdaq: CHDN, “CDI,” “the Company”) announced today that CDI successfully closed its amende…
Read attachment ↗ex991.htm · 8-K · 2025-08-27
EX-99.1 2 ex991.htm EX-99.1 ex991 FOR IMMEDIATE RELEASE Investor Contact: Sam Ullrich Media Contact: Tonya Abeln (502) 638-3906 (502) 386-1742 Sam. Ullrich@kyderby.com Tonya. Abeln@kyderby.com Churchill Downs Incorporated Completes Acquisition of a Majority of Casino Salem Project in New Hampshire Louisville, KY., (August 27, 2025) - Churchill Downs Incorporated (Nasdaq: CHDN) (the “Company”) announced today that the Company has completed its previously announced purchase of a majority of t…
Read attachment ↗ex991.htm · 8-K · 2025-07-23
EX-99.1 2 ex991.htm EX-99.1 ex991 FOR IMMEDIATE RELEASE Investor Contact: Sam Ullrich Media Contact: Tonya Abeln (502) 638-3906 (502) 386-1742 Sam. Ullrich@kyderby.com Tonya. Abeln@kyderby.com Churchill Downs Incorporated Announces New $500 Million Share Repurchase Program Louisville, KY., (July 23, 2025) - Churchill Downs Incorporated (“CDI” or “the Company”) (Nasdaq: CHDN) announced today that the Company’s Board of Directors approved a $500 million share repurchase program. The new share…
Read attachment ↗ex991.htm · 8-K · 2025-07-14
EX-99.1 2 ex991.htm EX-99.1 ex991 FOR IMMEDIATE RELEASE Investor Contact: Sam Ullrich Media Contact: Tonya Abeln (502) 638-3906 (502) 386-1742 Sam. Ullrich@kyderby.com Tonya. Abeln@kyderby.com Churchill Downs Incorporated Announces Definitive Agreements to Acquire a Majority of Casino Salem Project in New Hampshire Louisville, KY., (July 14, 2025) - Churchill Downs Incorporated (Nasdaq: CHDN) (the “Company”, “CDI”, “we”) announced today that it has signed definitive agreements to acquire a …
Read attachment ↗