Churchill Downs (CHDN) Gross Margin (2018 - 2026)
Churchill Downs (CHDN) reported Gross Margin of 42.76% for Q2 2026, up 0.79 percentage points from 41.97% a year earlier and up 12.14 percentage points from the prior quarter.
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Analysis
Churchill Downs (CHDN) Gross Margin (2018 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Churchill Downs' Gross Margin came in at 34.19%, up 0.72 percentage points year-over-year; for FY2025, it came in at 33.58%, down 0.74 percentage points from FY2024.
- Gross Margin has a five-year change of +15.22 percentage points (FY2020 to FY2025).
- By year, Gross Margin came in at 34.32% in FY2024 (+2.00 pp), 32.32% in FY2023 (+1.03 pp), 31.30% in FY2022 (+3.37 pp) and 27.93% in FY2021 (+9.57 pp).
- The Q2 2026 figure ranks as the highest quarterly Gross Margin since Q2 2024.
- Year over year, Gross Margin has now increased in each of the last four quarters, with an average year-over-year change of -11.69 percentage points over the last eight quarters.
- The high point for year-over-year Gross Margin in five years was Q4 2023 (a gain of 95.48 percentage points); the low point was Q4 2024 (a drop of 94.04 percentage points).
- Per Business Quant data, the three quarters before Q2 2026 came in at 30.62% (Q1 2026), 29.54% (Q4 2025) and 29.91% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Las Vegas Sands | 24.82 Bn | 11.24 Bn | 1.48 Bn | 46.92% |
| 2 | DraftKings | 17.42 Bn | 13.08 Bn | 551.45 Mn | 38.21% |
| 3 | Flutter Entertainment | 12.92 Bn | 6.67 Bn | 1.71 Bn | 39.60% |
| 4 | Madison Square Garden Sports | 9.97 Bn | 9.56 Bn | 119.21 Mn | 42.77% |
| 5 | Life Time Group Holdings | 8.95 Bn | 8.18 Bn | 412.26 Mn | 47.61% |
| 6 | Wynn Resorts | 8.09 Bn | 1.64 Bn | 758.95 Mn | 40.87% |
| 7 | MGM Resorts International | 7.93 Bn | -255.39 Mn | 1.98 Bn | 44.47% |
| 8 | Caesars Entertainment | 6.03 Bn | 2.66 Bn | 1.50 Bn | 50.08% |
| 9 | Super Group (SGHC) | 5.86 Bn | 3.85 Bn | - | - |
| 10 | Churchill Downs | 5.31 Bn | 4.58 Bn | 419.00 Mn | 42.76% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 42.76% |
| Mar 31, 2026 | 30.62% |
| Dec 31, 2025 | 29.54% |
| Sep 30, 2025 | 29.91% |
| Jun 30, 2025 | 41.97% |
| Mar 31, 2025 | 29.55% |
| Dec 31, 2024 | 28.79% |
| Sep 30, 2024 | 29.53% |
| Jun 30, 2024 | 43.56% |
| Mar 31, 2024 | 31.34% |
| Dec 31, 2023 | 122.83% |
| Sep 30, 2023 | 28.65% |
| Jun 30, 2023 | 38.87% |
| Mar 31, 2023 | 30.74% |
| Dec 31, 2022 | 27.35% |
| Sep 30, 2022 | 26.78% |
| Jun 30, 2022 | 18.97% |
| Mar 31, 2022 | 25.60% |
| Dec 31, 2021 | 94.85% |
| Sep 30, 2021 | 26.90% |
API Access
Churchill Downs Gross Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=gross-margin&ticker=CHDN&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "CHDN", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=gross-margin&ticker=CHDN&period=max&api_key=YOUR_API_KEY");
const data = await res.json();