Churchill Downs Inc — Financial Data
Annual figures from SEC EDGAR XBRL filings (10-K)
These figures are extracted directly from XBRL-tagged financial statements that Churchill Downs Inc filed with the SEC as part of its annual 10-K reports. XBRL (eXtensible Business Reporting Language) is a structured data format the SEC requires for machine-readable financial disclosures. Values shown are as reported — negative figures indicate a loss and are shown in red.
Revenue
Total revenue from all business activities — the top line of the income statement. Represents all money earned before any expenses are deducted.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2022 | Dec 31, 2022 | $1.81B | Feb 22, 2023 |
| FY2022 | Dec 31, 2021 | $1.60B | Feb 22, 2023 |
| FY2020 | Dec 31, 2020 | $278.20M | Feb 24, 2021 |
| FY2020 | Sep 30, 2020 | $337.80M | Feb 24, 2021 |
| FY2020 | Jun 30, 2020 | $185.10M | Feb 24, 2021 |
| FY2020 | Mar 31, 2020 | $252.90M | Feb 24, 2021 |
| FY2020 | Dec 31, 2019 | $280.60M | Feb 24, 2021 |
| FY2020 | Sep 30, 2019 | $306.30M | Feb 24, 2021 |
| FY2020 | Jun 30, 2019 | $477.40M | Feb 24, 2021 |
| FY2020 | Mar 31, 2019 | $265.40M | Feb 24, 2021 |
Revenue
Revenue recognized from contracts with customers under ASC 606, excluding taxes collected on behalf of government authorities. This is the primary revenue concept for many companies.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $2.93B | Feb 25, 2026 |
| FY2025 | Dec 31, 2024 | $2.73B | Feb 25, 2026 |
| FY2025 | Dec 31, 2023 | $2.46B | Feb 25, 2026 |
| FY2024 | Dec 31, 2022 | $1.81B | Feb 20, 2025 |
| FY2023 | Dec 31, 2021 | $1.60B | Feb 21, 2024 |
Net Income
The bottom-line profit — what remains after all operating expenses, interest, taxes, and other costs are deducted. A negative value means the company reported a net loss for the year.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $383.00M | Feb 25, 2026 |
| FY2025 | Dec 31, 2024 | $426.80M | Feb 25, 2026 |
| FY2025 | Dec 31, 2023 | $417.30M | Feb 25, 2026 |
| FY2024 | Dec 31, 2022 | $439.40M | Feb 20, 2025 |
| FY2023 | Dec 31, 2021 | $249.10M | Feb 21, 2024 |
| FY2022 | Dec 31, 2020 | ($81.90M) | Feb 22, 2023 |
| FY2021 | Dec 31, 2019 | $137.50M | Feb 23, 2022 |
| FY2020 | Dec 31, 2018 | $352.80M | Feb 24, 2021 |
| FY2019 | Dec 31, 2017 | $140.50M | Feb 26, 2020 |
| FY2018 | Dec 31, 2016 | $108.10M | Feb 27, 2019 |
Operating Income
Profit from core business operations before interest expense and income taxes (also known as EBIT). Excludes non-operating items, making it a cleaner measure of operational efficiency than net income.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $683.80M | Feb 25, 2026 |
| FY2025 | Dec 31, 2024 | $709.00M | Feb 25, 2026 |
| FY2025 | Dec 31, 2023 | $564.00M | Feb 25, 2026 |
| FY2024 | Dec 31, 2022 | $321.80M | Feb 20, 2025 |
| FY2023 | Dec 31, 2021 | $284.40M | Feb 21, 2024 |
| FY2020 | Dec 31, 2020 | $22.70M | Feb 24, 2021 |
| FY2020 | Sep 30, 2020 | $49.50M | Feb 24, 2021 |
| FY2020 | Jun 30, 2020 | ($400.0K) | Feb 24, 2021 |
| FY2020 | Mar 31, 2020 | ($11.60M) | Feb 24, 2021 |
| FY2020 | Dec 31, 2019 | $3.50M | Feb 24, 2021 |
R&D Expense
Spending on research and development activities — developing new products, improving existing ones, or conducting basic research. High R&D relative to revenue is common in technology and pharmaceutical companies.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2016 | Dec 31, 2016 | $39.00M | Feb 28, 2017 |
| FY2016 | Dec 31, 2015 | $39.40M | Feb 28, 2017 |
| FY2016 | Dec 31, 2014 | $0 | Feb 28, 2017 |
| FY2015 | Dec 31, 2013 | $0 | Feb 24, 2016 |
SG&A Expense
Selling, general, and administrative expenses — the overhead costs of running the business, including salaries, marketing, legal fees, and corporate office costs. Excludes COGS and R&D.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $246.20M | Feb 25, 2026 |
| FY2025 | Dec 31, 2024 | $237.70M | Feb 25, 2026 |
| FY2025 | Dec 31, 2023 | $202.30M | Feb 25, 2026 |
| FY2024 | Dec 31, 2022 | $164.20M | Feb 20, 2025 |
| FY2023 | Dec 31, 2021 | $138.50M | Feb 21, 2024 |
| FY2022 | Dec 31, 2020 | $114.80M | Feb 22, 2023 |
| FY2021 | Dec 31, 2019 | $122.00M | Feb 23, 2022 |
| FY2020 | Dec 31, 2018 | $90.60M | Feb 24, 2021 |
| FY2019 | Dec 31, 2017 | $83.50M | Feb 26, 2020 |
| FY2018 | Dec 31, 2016 | $79.40M | Feb 27, 2019 |
Operating Cash Flow
Cash generated from core business operations — a more reliable measure of financial health than net income because it strips out non-cash items like depreciation and one-time charges.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2020 | Dec 31, 2020 | $141.90M | Feb 24, 2021 |
| FY2020 | Dec 31, 2019 | $289.60M | Feb 24, 2021 |
| FY2020 | Dec 31, 2018 | $197.80M | Feb 24, 2021 |
| FY2019 | Dec 31, 2017 | $215.10M | Feb 26, 2020 |
| FY2018 | Dec 31, 2016 | $231.40M | Feb 27, 2019 |
| FY2017 | Dec 31, 2015 | $264.50M | Feb 28, 2018 |
| FY2016 | Dec 31, 2014 | $141.60M | Feb 28, 2017 |
| FY2015 | Dec 31, 2013 | $144.92M | Feb 24, 2016 |
| FY2014 | Dec 31, 2012 | $144.10M | Feb 25, 2015 |
| FY2013 | Dec 31, 2011 | $173.00M | Feb 26, 2014 |
Capital Expenditures (Capex)
Cash spent on acquiring or upgrading physical assets — property, equipment, and infrastructure. High capex businesses include manufacturing, telecom, and energy companies.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2018 | Dec 31, 2018 | $29.60M | Feb 27, 2019 |
| FY2018 | Dec 31, 2017 | $33.30M | Feb 27, 2019 |
| FY2018 | Dec 31, 2016 | $30.90M | Feb 27, 2019 |
| FY2017 | Dec 31, 2015 | $31.10M | Feb 28, 2018 |
| FY2016 | Dec 31, 2014 | $22.70M | Feb 28, 2017 |
| FY2015 | Dec 31, 2013 | $48.77M | Feb 24, 2016 |
| FY2014 | Dec 31, 2012 | $41.30M | Feb 25, 2015 |
| FY2013 | Dec 31, 2011 | $22.67M | Feb 26, 2014 |
| FY2012 | Dec 31, 2010 | $61.95M | Feb 27, 2013 |
Total Assets
The total value of everything the company owns or controls — cash, investments, receivables, property, equipment, and intangibles. Reported as of fiscal year end.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $7.48B | Feb 25, 2026 |
| FY2025 | Dec 31, 2024 | $7.28B | Feb 25, 2026 |
| FY2024 | Dec 31, 2023 | $6.96B | Feb 20, 2025 |
| FY2023 | Dec 31, 2022 | $6.21B | Feb 21, 2024 |
| FY2022 | Dec 31, 2021 | $2.98B | Feb 22, 2023 |
| FY2021 | Dec 31, 2020 | $2.69B | Feb 23, 2022 |
| FY2020 | Dec 31, 2019 | $2.55B | Feb 24, 2021 |
| FY2019 | Dec 31, 2018 | $1.73B | Feb 26, 2020 |
| FY2018 | Dec 31, 2017 | $2.36B | Feb 27, 2019 |
| FY2017 | Dec 31, 2016 | $2.25B | Feb 28, 2018 |
Total Liabilities
All financial obligations owed to outside parties — including debt, accounts payable, accrued expenses, and deferred revenue. Subtracting liabilities from total assets gives stockholders' equity.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $6.43B | Feb 25, 2026 |
| FY2025 | Dec 31, 2024 | $6.17B | Feb 25, 2026 |
| FY2024 | Dec 31, 2023 | $6.06B | Feb 20, 2025 |
| FY2023 | Dec 31, 2022 | $5.66B | Feb 21, 2024 |
| FY2022 | Dec 31, 2021 | $2.67B | Feb 22, 2023 |
| FY2021 | Dec 31, 2020 | $2.32B | Feb 23, 2022 |
| FY2020 | Dec 31, 2019 | $2.04B | Feb 24, 2021 |
| FY2019 | Dec 31, 2018 | $1.25B | Feb 26, 2020 |
| FY2018 | Dec 31, 2017 | $1.72B | Feb 27, 2019 |
| FY2017 | Dec 31, 2016 | $1.57B | Feb 28, 2018 |
Stockholders Equity
The net worth attributable to shareholders: total assets minus total liabilities. Also called book value. Can be negative if liabilities exceed assets, which is common in capital-intensive industries.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $1.01B | Feb 25, 2026 |
| FY2025 | Dec 31, 2024 | $1.08B | Feb 25, 2026 |
| FY2025 | Dec 31, 2023 | $893.60M | Feb 25, 2026 |
| FY2025 | Dec 31, 2022 | $551.50M | Feb 25, 2026 |
| FY2024 | Dec 31, 2021 | $306.80M | Feb 20, 2025 |
| FY2023 | Dec 31, 2020 | $367.10M | Feb 21, 2024 |
| FY2020 | Dec 31, 2019 | $508.30M | Feb 24, 2021 |
| FY2019 | Dec 31, 2018 | $473.30M | Feb 26, 2020 |
| FY2018 | Dec 31, 2017 | $640.30M | Feb 27, 2019 |
| FY2018 | Dec 31, 2016 | $685.00M | Feb 27, 2019 |
Goodwill
An intangible asset representing the premium paid above fair value when acquiring another company. A large goodwill balance signals a history of acquisitions at premium prices.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $900.20M | Feb 25, 2026 |
| FY2025 | Dec 31, 2024 | $900.20M | Feb 25, 2026 |
| FY2025 | Dec 31, 2023 | $899.90M | Feb 25, 2026 |
| FY2024 | Dec 31, 2022 | $723.80M | Feb 20, 2025 |
| FY2023 | Dec 31, 2021 | $366.80M | Feb 21, 2024 |
| FY2022 | Dec 31, 2020 | $366.80M | Feb 22, 2023 |
| FY2021 | Dec 31, 2019 | $367.10M | Feb 23, 2022 |
| FY2020 | Dec 31, 2018 | $338.00M | Feb 24, 2021 |
| FY2019 | Dec 31, 2017 | $317.60M | Feb 26, 2020 |
| FY2018 | Dec 31, 2016 | $301.50M | Feb 27, 2019 |
Retained Earnings
Cumulative net income kept by the company rather than distributed as dividends. A growing retained earnings balance indicates consistent profitability; a deficit indicates cumulative losses.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $1.01B | Feb 25, 2026 |
| FY2025 | Dec 31, 2024 | $1.08B | Feb 25, 2026 |
| FY2024 | Dec 31, 2023 | $894.50M | Feb 20, 2025 |
| FY2023 | Dec 31, 2022 | $552.40M | Feb 21, 2024 |
| FY2022 | Dec 31, 2021 | $307.70M | Feb 22, 2023 |
| FY2021 | Dec 31, 2020 | $349.80M | Feb 23, 2022 |
| FY2020 | Dec 31, 2019 | $509.20M | Feb 24, 2021 |
| FY2019 | Jan 1, 2019 | $473.90M | Feb 26, 2020 |
| FY2019 | Dec 31, 2018 | $474.20M | Feb 26, 2020 |
| FY2018 | Jan 1, 2018 | $664.00M | Feb 27, 2019 |
Cash & Equivalents
Highly liquid assets the company holds — cash on hand, bank balances, and short-term investments with maturities of three months or less. A key indicator of short-term financial health.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $200.60M | Feb 25, 2026 |
| FY2025 | Dec 31, 2024 | $175.50M | Feb 25, 2026 |
| FY2024 | Dec 31, 2023 | $144.50M | Feb 20, 2025 |
| FY2023 | Dec 31, 2022 | $129.80M | Feb 21, 2024 |
| FY2022 | Dec 31, 2021 | $291.30M | Feb 22, 2023 |
| FY2021 | Dec 31, 2020 | $67.40M | Feb 23, 2022 |
| FY2020 | Dec 31, 2019 | $96.20M | Feb 24, 2021 |
| FY2019 | Dec 31, 2018 | $133.30M | Feb 26, 2020 |
| FY2018 | Dec 31, 2017 | $51.70M | Feb 27, 2019 |
| FY2017 | Dec 31, 2016 | $45.30M | Feb 28, 2018 |
Long-Term Debt
Debt obligations due more than one year from the balance sheet date — bonds, term loans, and notes payable. High long-term debt relative to equity can signal elevated financial leverage.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2022 | Dec 31, 2022 | $4.61B | Feb 22, 2023 |
| FY2022 | Dec 31, 2021 | $1.97B | Feb 22, 2023 |
| FY2021 | Dec 31, 2020 | $1.62B | Feb 23, 2022 |
| FY2020 | Dec 31, 2019 | $1.47B | Feb 24, 2021 |
| FY2019 | Dec 31, 2018 | $884.30M | Feb 26, 2020 |
| FY2018 | Dec 31, 2017 | $1.13B | Feb 27, 2019 |
| FY2017 | Dec 31, 2016 | $921.70M | Feb 28, 2018 |
| FY2016 | Dec 31, 2015 | $781.80M | Feb 28, 2017 |
| FY2015 | Dec 31, 2014 | $764.10M | Feb 24, 2016 |
| FY2014 | Dec 31, 2013 | $369.19M | Feb 25, 2015 |
EPS (Basic)
Net income divided by the weighted average shares outstanding. Basic EPS does not account for dilutive securities like options or convertible bonds — use diluted EPS for a more conservative view.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2023 | Dec 31, 2023 | 5 | Feb 21, 2024 |
| FY2023 | Dec 31, 2022 | 5 | Feb 21, 2024 |
| FY2023 | Dec 31, 2021 | 3 | Feb 21, 2024 |
| FY2020 | Dec 31, 2020 | 0 | Feb 24, 2021 |
| FY2020 | Sep 30, 2020 | 1 | Feb 24, 2021 |
| FY2020 | Jun 30, 2020 | (3) | Feb 24, 2021 |
| FY2020 | Mar 31, 2020 | 0 | Feb 24, 2021 |
| FY2020 | Dec 31, 2019 | 0 | Feb 24, 2021 |
| FY2020 | Sep 30, 2019 | 0 | Feb 24, 2021 |
| FY2020 | Jun 30, 2019 | 2 | Feb 24, 2021 |
EPS (Diluted)
Net income divided by the fully diluted share count — including all potential shares from options, warrants, and convertible instruments. The more conservative and widely cited EPS figure.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2023 | Dec 31, 2023 | 5 | Feb 21, 2024 |
| FY2023 | Dec 31, 2022 | 5 | Feb 21, 2024 |
| FY2023 | Dec 31, 2021 | 3 | Feb 21, 2024 |
| FY2020 | Dec 31, 2020 | 0 | Feb 24, 2021 |
| FY2020 | Sep 30, 2020 | 1 | Feb 24, 2021 |
| FY2020 | Jun 30, 2020 | (3) | Feb 24, 2021 |
| FY2020 | Mar 31, 2020 | 0 | Feb 24, 2021 |
| FY2020 | Dec 31, 2019 | 0 | Feb 24, 2021 |
| FY2020 | Sep 30, 2019 | 0 | Feb 24, 2021 |
| FY2020 | Jun 30, 2019 | 2 | Feb 24, 2021 |
Shares Outstanding
Total common shares issued and held by all shareholders, excluding treasury shares. Combined with market price gives market capitalization.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 69.60M | Feb 25, 2026 |
| FY2025 | Dec 31, 2024 | 73.50M | Feb 25, 2026 |
| FY2024 | Dec 31, 2023 | 74.50M | Feb 20, 2025 |
| FY2023 | Dec 31, 2022 | 74.80M | Feb 21, 2024 |
| FY2022 | Dec 31, 2021 | 38.10M | Feb 22, 2023 |
| FY2021 | Dec 31, 2020 | 39.50M | Feb 23, 2022 |
| FY2020 | Dec 31, 2019 | 39.70M | Feb 24, 2021 |
| FY2019 | Dec 31, 2018 | 40.40M | Feb 26, 2020 |
| FY2018 | Dec 31, 2017 | 46.20M | Feb 27, 2019 |
| FY2017 | Dec 31, 2016 | 16.50M | Feb 28, 2018 |