Churchill Downs (CHDN) EBITDA Margin (2010 - 2026)
Churchill Downs (CHDN) recorded quarterly EBITDA Margin of 21.57% in Q1 2026, up 16.3% quarter-over-quarter from 18.55% in Q4 2025, and up 57.0% on a YoY basis from 13.74% in Q1 2025.
Churchill Downs (CHDN) EBITDA Margin (2010 - 2026) Analysis & Trends
Churchill Downs' EBITDA Margin history runs 17 years deep, the most recent figure standing at 21.57% for Q1 2026.
- In Q1 2026, EBITDA Margin rose 57.0% year-over-year to 21.57%; the TTM figure through Mar 2026 stood at 23.49% (down 226.0% YoY), while the FY2025 annual figure was 23.37%, down 256.0% from the prior year.
- EBITDA Margin was 21.57% for Q1 2026 at Churchill Downs, up from 18.55% in the prior quarter.
- In the past five years, EBITDA Margin ranged from a high of 37.05% in Q2 2024 to a low of 2.44% in Q4 2022.
- Historically, EBITDA Margin has averaged 21.46% across 5 years, with a median of 20.31% in 2024.
- The sharpest annual moves came in 2022 and 2023: EBITDA Margin sank 708 bps in 2022, then soared 1649 bps in 2023.
- A 5-year view of EBITDA Margin shows it stood at 2.44% in 2022, then surged by 677 bps to 18.92% in 2023, then advanced by 7 bps to 20.31% in 2024, then slipped by 9 bps to 18.55% in 2025, then advanced by 16 bps to 21.57% in 2026.
- The last three EBITDA Margin figures came in at 21.57% (Q1 2026), 18.55% (Q4 2025), and 14.35% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Flutter Entertainment | 17.90 Bn | 16.81 Bn | 1.84 Bn | 1.95% |
| 2 | DraftKings | 13.03 Bn | 12.02 Bn | 696.69 Mn | 0.36% |
| 3 | Churchill Downs | 6.18 Bn | 6.02 Bn | 475.00 Mn | 21.57% |
| 4 | Rush Street Interactive | 2.98 Bn | 2.81 Bn | 132.17 Mn | 11.66% |
| 5 | Brightstar Lottery | 2.10 Bn | 1.86 Bn | 553.00 Mn | 83.99% |
| 6 | Accel Entertainment | 1.07 Bn | 801.63 Mn | 109.94 Mn | 4.16% |
| 7 | Codere Online Luxembourg | 539.90 Mn | 470.47 Mn | - | - |
| 8 | Bragg Gaming | 273.64 Mn | 265.89 Mn | 18.22 Mn | -4.57% |
| 9 | Inspired Entertainment | 234.31 Mn | 190.81 Mn | 54.60 Mn | 8.92% |
| 10 | High Roller Technologies | 50.40 Mn | 47.74 Mn | - | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 21.57% |
| Dec 31, 2025 | 18.55% |
| Sep 30, 2025 | 14.35% |
| Jun 30, 2025 | 35.07% |
| Mar 31, 2025 | 21.00% |
| Dec 31, 2024 | 20.31% |
| Sep 30, 2024 | 20.03% |
| Jun 30, 2024 | 37.05% |
| Mar 31, 2024 | 21.37% |
| Dec 31, 2023 | 18.92% |
| Sep 30, 2023 | 19.62% |
| Jun 30, 2023 | 29.36% |
| Mar 31, 2023 | 21.43% |
| Dec 31, 2022 | 2.44% |
| Sep 30, 2022 | 16.44% |
| Jun 30, 2022 | 34.28% |
| Mar 31, 2022 | 13.02% |
| Dec 31, 2021 | 9.51% |
| Sep 30, 2021 | 17.20% |
| Jun 30, 2021 | 26.29% |