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MARKETS / NASDAQ / CHDN
NASDAQ · SERVICES-RACING, INCLUDING TRACK OPERATION · LARGE CAP

Churchill Downs Inc. CHDN

17 fiscal years on record · USD · FY2025 reported · SEC filings only
3 YEARS OF DIVIDEND GROWTH
$2.9B
▲ 7.0% YoY
$383.0M
▼ 10.3% YoY
Growth
USD 2.9B
Revenue, FY2025 · full 17-year series below
Revenue $B Net income $B
FY2025 · Revenue 2.9 · Net income 0.4
1B2B200920112013201520172019202120232025
Compound annual growth
+17.4%
+22.7%
+13.9%
+11.3%
−4.5%
+19.4%
+23.4%
+7.1%
+31.7%
+54.7%
+10.8%
+32.0%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +22.7% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
13 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 23.4% · Net 13.2%
10%20%30%-2%-4%-6%200920112013201520172019202120232025
ROE
FY2025 · ROE 36.6%
50%100%-5%-10%-15%200920112013201520172019202120232025

Each USD of equity produced 37 cents of profit this year.

Cash & shareholders
USD 458.6M
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2018 · FCF 168.2
80M160M200920112013201520172019202120232025
Net buybacks $M Dividends $M
FY2025 · Dividends 30.8 · Net buybacks 427.8
200M400MDividendsNet buybacks200920112013201520172019202120232025
Dividends paidUSD 30.8M
Net buybacksUSD 427.8M
Share of profit119.7%
Consecutive raises3 years (since the 2022 share-count change)

USD 30.8M in dividends and USD 427.8M in buybacks — 120% of the year's profit, so the payout drew on cash built up earlier.

Total assetsUSD 7.5B
EquityUSD 1.0B
CashUSD 200.6M
Gross debtUSD 5.1B
Net debtUSD 4.9B
Current ratio0.60×

Net debt stands at 488% of equity.

The 17-year record
17 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 20252024202320222021202020192018201720162015201420132012201120102009
Revenue $B2.92.72.51.81.61.11.31.00.90.80.80.80.00.00.00.60.5
Operating income $B0.70.70.60.30.30.10.20.20.10.20.10.10.10.10.10.00.0
EBITDA $B0.90.90.70.40.40.10.30.20.20.20.20.10.10.10.10.1·
Income tax $B0.10.10.10.20.1−0.00.10.1−0.00.10.00.00.00.00.00.00.0
Net income $B0.40.40.40.40.2−0.10.10.40.10.10.10.00.10.10.10.00.0
Free cash flow $B·······0.20.20.20.20.10.10.10.2−0.0·
EPS, diluted $··5.495.713.18−2.083.388.482.922.143.712.643.063.343.761.051.21
Dividend / sh $0.440.410.380.360.330.620.580.540.510.441.151.000.870.720.600.500.50
Payout %876610−2916715182733039134140
ROE %36.643.257.8102.473.9−18.728.063.421.216.69.96.68.19.511.83.64.1
Shares out B0.070.070.070.070.040.040.040.040.050.02·······

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

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Provenance
Company facts, as filed
How we verify · 0 failures in 64 reconciliationsAUDITED

Reconciled in 17 of 19 fiscal years. 12 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityServices-Racing, Including Track Operation
Listed onNASDAQ
Incorporated inKentucky
Fiscal year endsDecember 31
Data on record since2009

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