CHDNChurchill Downs Incorporated

$6B

FY 2014 Earnings

Consumer Cyclical Gambling, Resorts & Casinos

Income Statement

Revenue

$813M+4.3% YoY

Gross Profit

$179M22.0% margin

Operating Income

$90M11.1% margin

Net Income

$46M5.7% margin

EPS (Diluted)

$0.44

Cash Flow

Operating Cash Flow

$142M

Free Cash Flow

$85M

Stock-Based Comp.

$12M

Balance Sheet

Total Assets

$2.4B

Total Liabilities

$1.7B

Stockholders' Equity

$700M

Cash & Equivalents

$68M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$813M	$779M	+4.3%
Gross Profit	$179M	$173M	+3.3%
Operating Income	$90M	$90M	+0.3%
Net Income	$46M	$55M	-15.6%

CHDN FY 2014 Earnings — Churchill Downs Incorporated Revenue & Financial Results | Market Cap Arena