Churchill Downs (CHDN) Gross Margin (2018 - 2026)
Churchill Downs' quarterly Gross Margin came in at 71.64% in Q1 2026, down 2773.0% year-on-year from 2.68% in Q1 2025, and up 361.56% quarter-over-quarter from 27.39% in Q4 2025.
Churchill Downs has reported Gross Margin for 9 years, with the latest figure at 71.64% in Q1 2026.
- For the quarter ending Q1 2026, Gross Margin fell 2773.0% year-over-year to 71.64%; the trailing twelve-month figure through Mar 2026 stood at 57.71% (down 2851.0% YoY), and the FY2025 full-year result was 70.56%, down 205.0% from the prior year.
- Gross Margin for Q1 2026 stood at 71.64%, up from 27.39% in the prior quarter.
- The five-year high for Gross Margin was 99.56% in Q2 2025, with the low at 27.39% in Q4 2025.
- Average Gross Margin over 5 years is 71.31%, with a median of 77.89% recorded in 2022.
- Year-over-year, Gross Margin soared 4884 bps in 2024 and plunged 9740 bps in 2025.
- Tracing CHDN's Gross Margin over 5 years: stood at 72.57% in 2022, then slumped by 71 bps to 21.17% in 2023, then soared by 231 bps to 70.01% in 2024, then slumped by 139 bps to 27.39% in 2025, then jumped by 362 bps to 71.64% in 2026.
- The last three Gross Margin figures came in at 71.64% (Q1 2026), 27.39% (Q4 2025), and 69.9% (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Flutter Entertainment | 18.39 Bn | 17.30 Bn | 1.84 Bn | 42.68% |
| 2 | DraftKings | 13.23 Bn | 12.22 Bn | 696.69 Mn | 42.32% |
| 3 | Churchill Downs | 6.28 Bn | 6.13 Bn | 475.00 Mn | 71.64% |
| 4 | Rush Street Interactive | 2.60 Bn | 2.43 Bn | 132.17 Mn | 35.69% |
| 5 | Brightstar Lottery | 2.28 Bn | 2.94 Bn | - | - |
| 6 | Accel Entertainment | 1.01 Bn | 735.58 Mn | 109.94 Mn | 31.27% |
| 7 | Codere Online Luxembourg | 490.38 Mn | 420.96 Mn | - | - |
| 8 | Bragg Gaming | 269.74 Mn | 261.99 Mn | 18.22 Mn | 56.54% |
| 9 | Inspired Entertainment | 233.43 Mn | 189.93 Mn | 54.60 Mn | 95.45% |
| 10 | High Roller Technologies | 45.23 Mn | 42.56 Mn | - | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 71.64% |
| Dec 31, 2025 | -27.39% |
| Sep 30, 2025 | 69.90% |
| Jun 30, 2025 | 99.56% |
| Mar 31, 2025 | 99.38% |
| Dec 31, 2024 | 70.01% |
| Sep 30, 2024 | 99.28% |
| Jun 30, 2024 | 78.85% |
| Mar 31, 2024 | 69.79% |
| Dec 31, 2023 | 21.17% |
| Sep 30, 2023 | 87.18% |
| Jun 30, 2023 | 89.50% |
| Mar 31, 2023 | 74.39% |
| Dec 31, 2022 | 72.57% |
| Sep 30, 2022 | 79.09% |
| Jun 30, 2022 | 77.89% |
| Mar 31, 2022 | 79.43% |
| Dec 31, 2021 | 118.12% |
| Sep 30, 2021 | 84.15% |
| Jun 30, 2021 | 97.73% |
| Mar 31, 2021 | 97.29% |
| Dec 31, 2020 | 184.58% |
| Sep 30, 2020 | 75.13% |
| Jun 30, 2020 | 75.42% |
| Mar 31, 2020 | 79.91% |
| Dec 31, 2019 | 53.49% |
| Sep 30, 2019 | 55.17% |
| Jun 30, 2019 | 87.01% |
| Mar 31, 2019 | 83.01% |
| Dec 31, 2018 | 119.54% |
| Sep 30, 2018 | 89.29% |
| Jun 30, 2018 | 84.32% |
| Mar 31, 2018 | 94.77% |