Churchill Downs (CHDN) Gross Margin (2018 - 2026)
Churchill Downs (CHDN) posted quarterly Gross Margin of 72.65% for Q2 2026, up 6.0% year-over-year from 68.54% in Q2 2025, and up 3.81% quarter-over-quarter from 69.98% in Q1 2026.
Churchill Downs (CHDN) Gross Margin (2018 - 2026) Analysis & Trends
Churchill Downs' Gross Margin history runs 9 years deep, the most recent figure standing at 72.65% for Q2 2026.
- In Q2 2026, Gross Margin rose 6.0% year-over-year to 72.65%; the TTM figure through Jun 2026 stood at 70.5% (down 17.0% YoY), while the FY2025 annual figure was 70.56%, down 205.0% from the prior year.
- Gross Margin for Q2 2026 stood at 72.65%, 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.
- The 5-year median for Gross Margin is 69.84% (2024), against an average of 70.34%.
- Peak annual rise in Gross Margin reached 404 bps in 2023, while the deepest fall reached 446 bps in 2023.
- Churchill Downs' Gross Margin stood at 68.57% in 2022, then rose by 1 bps to 69.4% in 2023, then gained by 1 bps to 70.01% in 2024, then decreased by 2 bps to 68.46% in 2025, then rose by 6 bps to 72.65% in 2026.
- Business Quant data shows CHDN's Gross Margin at 72.65% in Q2 2026, 69.98% in Q1 2026, and 68.46% in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Flutter Entertainment | 17.94 Bn | 16.37 Bn | 1.71 Bn | 39.60% |
| 2 | DraftKings | 12.78 Bn | 11.78 Bn | 551.45 Mn | 38.21% |
| 3 | Super Group (SGHC) | 6.67 Bn | 6.25 Bn | - | - |
| 4 | Churchill Downs | 6.49 Bn | 6.29 Bn | 712.00 Mn | 72.65% |
| 5 | Rush Street Interactive | 2.77 Bn | 2.43 Bn | 139.66 Mn | 35.47% |
| 6 | Brightstar Lottery | 2.24 Bn | 966.37 Mn | 297.00 Mn | 50.60% |
| 7 | Accel Entertainment | 972.16 Mn | 716.71 Mn | 115.51 Mn | 31.38% |
| 8 | Codere Online Luxembourg | 415.01 Mn | 345.58 Mn | - | - |
| 9 | Inspired Entertainment | 174.61 Mn | 150.21 Mn | 52.10 Mn | 85.69% |
| 10 | Grandstand | 70.65 Mn | 61.84 Mn | 31.83 Mn | 84.29% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 72.65% |
| Mar 31, 2026 | 69.98% |
| Dec 31, 2025 | 68.46% |
| Sep 30, 2025 | 69.90% |
| Jun 30, 2025 | 72.59% |
| Mar 31, 2025 | 70.14% |
| Dec 31, 2024 | 70.01% |
| Sep 30, 2024 | 69.01% |
| Jun 30, 2024 | 75.14% |
| Mar 31, 2024 | 69.79% |
| Dec 31, 2023 | 69.40% |
| Sep 30, 2023 | 69.33% |
| Jun 30, 2023 | 73.43% |
| Mar 31, 2023 | 68.99% |
| Dec 31, 2022 | 68.57% |
| Sep 30, 2022 | 65.28% |
| Jun 30, 2022 | 77.89% |
| Mar 31, 2022 | 65.61% |
| Dec 31, 2021 | 66.75% |
| Sep 30, 2021 | 67.51% |