Churchill Downs (CHDN) Operating Expenses (2010 - 2026)

Churchill Downs' Operating Expenses history runs 17 years deep, the most recent figure standing at $520.0 million for Q1 2026.

• In Q1 2026, Operating Expenses rose 2.36% year-over-year to $520.0 million; the TTM figure through Mar 2026 stood at $2.3 billion (up 8.96% YoY), while the FY2025 annual figure was $2.2 billion, up 10.7% from the prior year.
• Operating Expenses was $520.0 million for Q1 2026 at Churchill Downs, down from $542.4 million in the prior quarter.
• In the past five years, Operating Expenses ranged from a high of $606.7 million in Q2 2025 to a low of $316.7 million in Q1 2022.
• Historically, Operating Expenses has averaged $480.8 million across 5 years, with a median of $497.4 million in 2024.
• Biggest YoY gain for Operating Expenses was 43.77% in 2023; the steepest drop was 2.86% in 2023.
• A 5-year view of Operating Expenses shows it stood at $468.4 million in 2022, then decreased by 2.86% to $455.0 million in 2023, then increased by 9.32% to $497.4 million in 2024, then rose by 9.05% to $542.4 million in 2025, then retreated by 4.13% to $520.0 million in 2026.
• The last three Operating Expenses figures came in at $520.0 million (Q1 2026), $542.4 million (Q4 2025), and $585.0 million (Q3 2025), per Business Quant data.