Churchill Downs (CHDN) Gross Margin (2018 - 2026)

Churchill Downs has reported Gross Margin for 9 years, with the latest figure at 72.65% in Q2 2026.

• On a quarterly basis, Gross Margin rose 6.0% year-over-year to 72.65% in Q2 2026; TTM through Jun 2026 was 70.5%, a 17.0% decrease from a year earlier, with the FY2025 full-year figure at 70.56%, down 205.0% from the prior year.
• Gross Margin was 72.65% for Q2 2026 at Churchill Downs, up from 69.98% in the prior quarter.
• The five-year high for Gross Margin was 77.89% in Q2 2022, with the low at 65.28% in Q3 2022.
• Average Gross Margin over 5 years is 70.34%, with a median of 69.84% recorded in 2024.
• The largest YoY upside for Gross Margin was 404 bps in 2023 against a maximum downside of 446 bps in 2023.
• Over 5 years, Gross Margin stood at 68.57% in 2022, then advanced by 1 bps to 69.4% in 2023, then climbed by 1 bps to 70.01% in 2024, then dropped by 2 bps to 68.46% in 2025, then advanced by 6 bps to 72.65% in 2026.
• The last three Gross Margin figures came in at 72.65% (Q2 2026), 69.98% (Q1 2026), and 68.46% (Q4 2025), per Business Quant data.