Churchill Downs financials
$76.16+0.58%
Close Sep 29, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Quarter | Q2 '26 Jun 30 | Q1 '26 Mar 31 | Q4 '25 Dec 31 | Q3 '25 Sep 30 | Q2 '25 Jun 30 | Q1 '25 Mar 31 | Q4 '24 Dec 31 | Q3 '24 Sep 30 | Q2 '24 Jun 30 | Q1 '24 Mar 31 | Q4 '23 Dec 31 | Q3 '23 Sep 30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $980.0M | $663.0M | $665.9M | $683.0M | $934.0M | $643.0M | $624.2M | $628.5M | $890.7M | $590.9M | $561.2M | $572.5M |
| Gross profit | $419.0M | $203.0M | $196.7M | $204.3M | $392.0M | $190.0M | $179.7M | $185.6M | $388.0M | $187.3M | -$1.10B | $572.5M |
| Gross margin | 42.8% | 30.6% | 29.5% | 29.9% | 42.0% | 29.5% | 28.8% | 29.5% | 43.6% | 31.7% | −196.9% | 100.0% |
| Operating income | $357.0M | $143.0M | $123.5M | $98.0M | $327.0M | $135.0M | $126.8M | $125.9M | $330.0M | $134.4M | $106.2M | $112.3M |
| Net income | $240.0M | $83.0M | $53.1M | $37.9M | $217.0M | $77.0M | $73.5M | $64.4M | $208.5M | $80.4M | $57.6M | $61.0M |
| Net margin | 24.5% | 12.5% | 8.0% | 5.5% | 23.2% | 12.0% | 11.8% | 10.2% | 23.4% | 13.6% | 10.3% | 10.7% |
| Diluted EPS | $3.42 | $1.16 | $0.76 | $0.54 | $2.99 | $1.02 | $0.99 | $0.86 | $2.79 | $1.08 | $0.78 | $0.79 |
| EBITDA | $417.0M | $200.0M | $184.8M | $201.5M | $389.0M | $194.0M | $167.4M | $175.4M | $379.8M | $181.3M | $106.3M | $154.4M |
| Operating cash flow | $217.0M | $295.0M | $96.0M | $187.7M | $240.0M | $247.0M | $130.6M | $169.4M | $218.0M | $254.7M | $106.5M | $96.2M |
| Free cash flow | $159.0M | $236.0M | $45.7M | $127.9M | $155.0M | $167.0M | $1.2M | $43.8M | $81.0M | $99.7M | -$71.9M | -$89.5M |
| Diluted shares | 70.0M | 70.0M | 70.2M | 71.0M | 72.0M | 74.0M | 74.5M | 74.6M | 74.6M | 74.7M | 74.3M | 77.1M |
Balance sheet
| Period end | Jun 30 | Mar 31 | Dec 31 | Sep 30 | Jun 30 | Mar 31 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $196.0M | $200.0M | $201.0M | $180.5M | $182.4M | $174.2M |
| Short-term investments | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Total debt | $4.77B | $4.93B | $5.13B | $5.11B | $5.01B | $4.88B |
| Total assets | $7.52B | $7.49B | $7.49B | $7.45B | $7.38B | $7.35B |
| Total liabilities | $6.13B | $6.34B | $6.43B | $6.38B | $6.31B | $6.25B |
| Shareholders' equity | $1.34B | $1.10B | $1.01B | $1.03B | $1.04B | $1.07B |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology