Churchill Downs (CHDN) Change in Taxes (2010 - 2025)

Churchill Downs' (CHDN) quarterly Change in Taxes came in at -$45.1 million in Q4 2025, down 424.42% year-on-year from $13.9 million in Q4 2024, and down 13.89% quarter-over-quarter from -$39.6 million in Q3 2025.

Churchill Downs (CHDN) Change in Taxes (2010 - 2025) Analysis & Trends

Churchill Downs' Change in Taxes history runs 16 years deep, the most recent figure standing at -$45.1 million for Q4 2025.

  • On a quarterly basis, Change in Taxes fell 424.42% year-over-year to -$45.1 million in Q4 2025; TTM through Mar 2026 was -$22.5 million, a 800.0% decrease from a year earlier, with the FY2025 full-year figure at -$3.5 million, up 22.22% from the prior year.
  • Change in Taxes declined to -$45.1 million in Q4 2025 per CHDN's latest filing, from -$39.6 million in the prior quarter.
  • Across five years, Change in Taxes topped out at $62.2 million in Q2 2025 and bottomed at -$48.8 million in Q3 2024.
  • The 5-year median for Change in Taxes is $3.2 million (2022), against an average of $3.6 million.
  • Biggest YoY gain for Change in Taxes was 35800.0% in 2024; the steepest drop was 1038.46% in 2024.
  • Year by year, Change in Taxes stood at $12.9 million in 2021, then soared by 112.4% to $27.4 million in 2022, then plunged by 125.91% to -$7.1 million in 2023, then dropped by 21.13% to -$8.6 million in 2024, then tumbled by 424.42% to -$45.1 million in 2025.
  • Per Business Quant, the three latest CHDN Change in Taxes figures stand at -$45.1 million (Q4 2025), -$39.6 million (Q3 2025), and $62.2 million (Q2 2025).

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Change in Taxes (Qtr)
1 Codere Online Luxembourg 425.84 Bn 425.77 Bn - -
2 Flutter Entertainment 19.13 Bn 17.62 Bn 1.84 Bn -
3 DraftKings 12.12 Bn 11.11 Bn 696.69 Mn 1.29 Mn
4 Super Group (SGHC) 7.57 Bn 7.15 Bn - -
5 Churchill Downs 6.27 Bn 6.17 Bn 464.00 Mn -
6 Rush Street Interactive 3.15 Bn 2.82 Bn 132.17 Mn -
7 Brightstar Lottery 1.94 Bn 670.63 Mn 297.00 Mn 30.00 Mn
8 Accel Entertainment 1.02 Bn 746.37 Mn 350.92 Mn -
9 Inspired Entertainment 207.07 Mn 163.57 Mn 54.60 Mn -3.90 Mn
10 Gambling.com 58.26 Mn 42.45 Mn 39.34 Mn -

Historic Data

Download Data
DateValue
Dec 31, 2025 -45.10 Mn
Dec 31, 2025 -45.10 Mn
Sep 30, 2025 -39.60 Mn
Sep 30, 2025 -39.60 Mn
Jun 30, 2025 62.20 Mn
Jun 30, 2025 62.20 Mn
Mar 31, 2025 19.00 Mn
Mar 31, 2025 19.00 Mn
Dec 31, 2024 -8.60 Mn
Dec 31, 2024 -8.60 Mn
Sep 30, 2024 -48.80 Mn
Sep 30, 2024 -48.80 Mn
Jun 30, 2024 35.90 Mn
Jun 30, 2024 35.90 Mn
Mar 31, 2024 17.00 Mn
Mar 31, 2024 17.00 Mn
Dec 31, 2023 -7.10 Mn
Dec 31, 2023 -7.10 Mn
Sep 30, 2023 5.20 Mn
Sep 30, 2023 5.20 Mn