To the full analysis
Churchill Downs stock: growth
CHDNChurchill Downs reported $2.93B in revenue for fiscal 2025, up 7% on the prior year, up 22.7% a year on average over up to five years.
Daily figure as of 12 Nov 2026
Revenue (Annual rate)
11.4%
per year from 2006 to 2025, per share 12%
Earnings (Annual rate)
14.3%
per year from 2006 to 2025, per share 15.1%
Free cash flow (Annual rate)
14.7%
per year from 2006 to 2025, per share 15.3%
Growth per year by period
What reaches shareholders is growth per share: buybacks lift it, new shares dilute it.
| since 2020 | since 2015 | since 2006 | |
|---|---|---|---|
| Revenue | 22.7% | 9.2% | 11.4% |
| Revenue per share | 25.4% | 13.4% | 12.0% |
| Earnings | no data | 19.3% | 14.3% |
| Earnings per share | no data | 23.9% | 15.1% |
| Free cash flow | no data | 3.5% | 14.7% |
| Free cash flow per share | no data | 7.5% | 15.3% |
Fiscal years at a glance
How revenue and earnings grow
- Revenue
- Earnings
- Free cash flow
Figures as a table
| Year | Revenue | Earnings | Free cash flow |
|---|---|---|---|
| 2006 | $376.67M | $29.81M | $22.91M |
| 2007 | $410.74M | $15.73M | $5.59M |
| 2008 | $430.57M | $28.55M | $38.08M |
| 2009 | $439.7M | $16.83M | −$14.14M |
| 2010 | $585.35M | $16.35M | −$4.85M |
| 2011 | $696.85M | $64.36M | $148.26M |
| 2012 | $732.38M | $58.28M | $100.86M |
| 2013 | $779.33M | $54.9M | $93.49M |
| 2014 | $812.93M | $46.36M | $84.88M |
| 2015 | $1.21B | $65.2M | $218.77M |
| 2016 | $1.31B | $108.1M | $169.6M |
| 2017 | $882.6M | $140.5M | $101.3M |
| 2018 | $1.01B | $352.8M | $48.4M |
| 2019 | $1.33B | $137.5M | $126.3M |
| 2020 | $1.05B | −$81.9M | −$92.3M |
| 2021 | $1.6B | $249.1M | $243.7M |
| 2022 | $1.81B | $439.4M | $80M |
| 2023 | $2.46B | $417.3M | −$70.7M |
| 2024 | $2.73B | $426.8M | $225.7M |
| 2025 | $2.93B | $379.7M | $309.6M |
Revenue by segment
How Churchill Downs Incorporated makes its money and how that has shifted. Names are as the company reports them.
- Gaming$1.0B36%
- Pari-Mutuel, Historical Racing$1.0B35%
- Pari-Mutuel, Live And Simulcast Racing$491.5M17%
- Product and Service, Other$314.6M11%
- Racing Event-Related Services$185.0M6%
The company split earlier years differently. A history would not be comparable, so only 2025 is shown.
Figures as a table
| 2025 | Share 2025 | |
|---|---|---|
| Gaming | $1.04B | 35.6% |
| Pari-Mutuel, Historical Racing | $1.02B | 34.8% |
| Pari-Mutuel, Live And Simulcast Racing | $491.5M | 16.8% |
| Product and Service, Other | $314.6M | 10.8% |
| Racing Event-Related Services | $185M | 6.3% |
| Total revenue | $2.93B | 100% |
Data status and sources
- Score
- Daily value of 12 Nov 2026, recalculated nightly
- Price
- Closing price of 11 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Strong since 11 Nov 2026, previously Neutral
- Valuation signal Fairly valued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.