Churchill Downs (CHDN) Net Margin (2010 - 2026)
Churchill Downs' Net Margin was 24.59% in Q2 2026, up 1.36 percentage points from 23.23% a year earlier and up 12.07 percentage points from the prior quarter.
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Analysis
Churchill Downs (CHDN) Net Margin (2010 - 2026) Analysis & Trends
On a trailing twelve-month basis, Churchill Downs' Net Margin was 13.82% through Jun 30, 2026, down 1.42 percentage points year-over-year; for FY2025, it was 13.09%, down 2.52 percentage points from FY2024.
- Net Margin has now declined for three consecutive years, though with a five-year change of +20.86 percentage points (FY2020 to FY2025).
- In earlier years, Net Margin was 15.61% in FY2024 (-1.34 pp), 16.95% in FY2023 (-7.33 pp), 24.28% in FY2022 (+8.68 pp) and 15.60% in FY2021 (+23.37 pp).
- The Q2 2026 figure marks the highest quarterly Net Margin since Q1 2023.
- Compared with a year earlier, Net Margin was higher in three of the last eight quarters, with an average year-over-year change of -0.95 percentage points.
- The best year-over-year quarter for Net Margin over five years was Q2 2022 (a gain of 37.22 percentage points); the worst was Q2 2023 (a drop of 39.64 percentage points).
- Per Business Quant data, CHDN's Net Margin in the three quarters before Q2 2026 was 12.52% (Q1 2026), 7.70% (Q4 2025) and 5.58% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Las Vegas Sands | 24.82 Bn | 11.24 Bn | 1.48 Bn | 10.97% |
| 2 | DraftKings | 17.42 Bn | 13.08 Bn | 551.45 Mn | -4.68% |
| 3 | Flutter Entertainment | 12.92 Bn | 6.67 Bn | 1.71 Bn | -6.33% |
| 4 | Madison Square Garden Sports | 9.97 Bn | 9.56 Bn | 119.21 Mn | 10.15% |
| 5 | Life Time Group Holdings | 8.95 Bn | 8.18 Bn | 412.26 Mn | 11.70% |
| 6 | Wynn Resorts | 8.09 Bn | 1.64 Bn | 758.95 Mn | 7.54% |
| 7 | MGM Resorts International | 7.93 Bn | -255.39 Mn | 1.98 Bn | 6.57% |
| 8 | Caesars Entertainment | 6.03 Bn | 2.66 Bn | 1.50 Bn | -2.07% |
| 9 | Super Group (SGHC) | 5.86 Bn | 3.85 Bn | - | 17.54% |
| 10 | Churchill Downs | 5.31 Bn | 4.58 Bn | 419.00 Mn | 24.59% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 24.59% |
| Mar 31, 2026 | 12.52% |
| Dec 31, 2025 | 7.70% |
| Sep 30, 2025 | 5.58% |
| Jun 30, 2025 | 23.23% |
| Mar 31, 2025 | 11.98% |
| Dec 31, 2024 | 11.49% |
| Sep 30, 2024 | 10.41% |
| Jun 30, 2024 | 23.50% |
| Mar 31, 2024 | 13.61% |
| Dec 31, 2023 | 10.26% |
| Sep 30, 2023 | 10.66% |
| Jun 30, 2023 | 18.61% |
| Mar 31, 2023 | 27.83% |
| Dec 31, 2022 | 0.21% |
| Sep 30, 2022 | 14.88% |
| Jun 30, 2022 | 58.25% |
| Mar 31, 2022 | 11.56% |
| Dec 31, 2021 | 11.87% |
| Sep 30, 2021 | 15.62% |
API Access
Churchill Downs Net 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=net-margin&ticker=CHDN&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-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=net-margin&ticker=CHDN&period=max&api_key=YOUR_API_KEY");
const data = await res.json();