CHDN Q4 2025 Earnings — Churchill Downs Incorporated Revenue & Financial Results | Market Cap Arena

CHDNChurchill Downs Incorporated

$6B

Q4 2025 Earnings

Consumer Cyclical Gambling, Resorts & Casinos

Income Statement

Revenue

$666M+6.7% YoY

Gross Profit

$197M29.5% margin

Operating Income

$125M18.8% margin

Net Income

$50M7.5% margin

EPS (Diluted)

$0.71

QoQ Revenue Growth

-2.5%

Cash Flow

Operating Cash Flow

$96M

Free Cash Flow

$16M

Stock-Based Comp.

$12M

Balance Sheet

Total Assets

$689M

Total Liabilities

$891M

Stockholders' Equity

-$203M

Cash & Equivalents

$0

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$666M	$624M	+6.7%
Gross Profit	$197M	$180M	+9.5%
Operating Income	$125M	$127M	-1.3%
Net Income	$50M	$72M	-30.5%

Revenue Segments

Pari-Mutuel, Historical Racing

$262M38%

Gaming

$249M36%

Pari-Mutuel, Live And Simulcast Racing

$98M14%

Product and Service, Other

$74M11%

Racing Event-Related Services

$6M1%