Churchill Downs (CHDN) Cost of Revenue (2018 - 2026)

Churchill Downs' Cost of Revenue history runs 9 years deep, the most recent figure standing at $188.0 million for Q1 2026.

• In Q1 2026, Cost of Revenue rose 4600.0% year-over-year to $188.0 million; the TTM figure through Mar 2026 stood at $1.2 billion (up 224.39% YoY), while the FY2025 annual figure was $861.4 million, up 15.02% from the prior year.
• Cost of Revenue was $188.0 million for Q1 2026 at Churchill Downs, down from $848.3 million in the prior quarter.
• In the past five years, Cost of Revenue ranged from a high of $848.3 million in Q4 2025 to a low of $4.0 million in Q1 2025.
• Historically, Cost of Revenue has averaged $174.3 million across 5 years, with a median of $131.7 million in 2022.
• The sharpest annual moves came in 2025 and 2026: Cost of Revenue slumped 97.82% in 2025, then soared 4600.0% in 2026.
• A 5-year view of Cost of Revenue shows it stood at $131.7 million in 2022, then soared by 235.91% to $442.4 million in 2023, then slumped by 57.69% to $187.2 million in 2024, then jumped by 353.15% to $848.3 million in 2025, then plunged by 77.84% to $188.0 million in 2026.
• The last three Cost of Revenue figures came in at $188.0 million (Q1 2026), $848.3 million (Q4 2025), and $205.6 million (Q3 2025), per Business Quant data.