CHDN Q3 2025 Earnings — Churchill Downs Incorporated Revenue & Financial Results | Market Cap Arena

CHDNChurchill Downs Incorporated

$6B

Q3 2025 Earnings

Consumer Cyclical Gambling, Resorts & Casinos

Income Statement

Revenue

$683M+8.7% YoY

Gross Profit

$204M29.9% margin

Operating Income

$98M14.3% margin

Net Income

$38M5.5% margin

EPS (Diluted)

$0.53

QoQ Revenue Growth

-26.9%

Cash Flow

Operating Cash Flow

$188M

Free Cash Flow

$268M

Stock-Based Comp.

$7M

Balance Sheet

Total Assets

$7.5B

Total Liabilities

$6.4B

Stockholders' Equity

$1.0B

Cash & Equivalents

$181M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$683M	$629M	+8.7%
Gross Profit	$204M	$186M	+10.1%
Operating Income	$98M	$126M	-22.2%
Net Income	$38M	$64M	-41.1%

Revenue Segments

Gaming

$265M37%

Pari-Mutuel, Historical Racing

$253M36%

Pari-Mutuel, Live And Simulcast Racing

$108M15%

Product and Service, Other

$80M11%

Racing Event-Related Services

$4M1%