MarketCap
Facebook
X
Telegram
Churchill Downs Incorporated Balance Sheet 2025-2008 | CHDN
Brief overview of Churchill Downs Incorporated's balance sheet structure
The review uses the five latest available annual reports between 2021 and 2025.
The asset base grew from $3 billion to $7.5 billion, or +151%. Average annual growth of roughly 25.9% was strong.
Liabilities increased less than assets, posting +140.3% versus +151%. That relationship usually strengthens the balance sheet.
Internal capital represents 13.5% of the balance sheet versus 10.3% five periods ago. The cushion is thin.
Net debt exceeds equity by 4.83x. The burden makes the balance sheet sensitive to earnings, rates and cash flow.
Cash represents 2.7% of assets versus 11.9% initially, showing how the immediate liquidity reserve changed.
By the end of the period, accumulated earnings were $1 billion; the change from the start was +228.5%.
Balance sheet takeaway
The balance sheet gives no single signal for Churchill Downs Incorporated: some indicators are sound, while leverage or capitalization needs attention.
Annual Balance Sheet Churchill Downs Incorporated
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
4.87 B | 4.67 B | 4.63 B | 4.44 B | 1.61 B | 1.5 B | 1.38 B | 751 M | 1.08 B | 873 M | 707 M | 702 M | 325 M | 179 M | 106 M | 238 M | - | - |
Long Term Debt |
5.07 B | 4.84 B | 4.77 B | 4.56 B | 1.96 B | 1.62 B | 1.47 B | 880 M | 1.13 B | 908 M | 766 M | 759 M | 369 M | - | 128 M | 265 M | - | - |
Long Term Debt Current |
5.7 M | 5.6 M | 5.4 M | 7 M | 7 M | 4 M | 4 M | 4 M | 4 M | 14.2 M | 16.2 M | 11.2 M | - | 210 M | - | - | - | - |
Total Non Current Liabilities |
- | - | - | - | - | - | 1.74 B | 995 M | 1.27 B | 1.1 B | 1.02 B | 1.33 B | 434 M | 63.5 M | 191 M | - | - | - |
Total Current Liabilities |
733 M | 729 M | 756 M | 622 M | 395 M | 424 M | 301 M | 257 M | 453 M | 468 M | 640 M | 334 M | 213 M | 407 M | 173 M | 189 M | - | - |
Total Liabilities |
6.43 B | 6.17 B | 6.06 B | 5.66 B | 2.67 B | 2.32 B | 2.04 B | 1.25 B | 1.72 B | 1.57 B | 1.66 B | 1.66 B | 647 M | 470 M | 364 M | 512 M | - | - |
Deferred Revenue |
54.7 M | 52.9 M | 73.2 M | 39 M | 47.7 M | 32.8 M | 42.5 M | 77.5 M | 94.9 M | 171 M | 148 M | 112 M | 67.8 M | 43.9 M | 33.5 M | 24.5 M | - | - |
Retained Earnings |
1.01 B | 1.08 B | 894 M | 552 M | 308 M | 350 M | 509 M | 474 M | 634 M | 570 M | 484 M | 438 M | 409 M | 370 M | 324 M | 270 M | - | - |
Total Assets |
7.48 B | 7.28 B | 6.96 B | 6.21 B | 2.98 B | 2.69 B | 2.55 B | 1.73 B | 2.36 B | 2.25 B | 2.28 B | 2.36 B | 1.35 B | 1.11 B | 948 M | 1.02 B | - | - |
Cash and Cash Equivalents |
201 M | 176 M | 144 M | 130 M | 356 M | 121 M | 96.2 M | 133 M | 51.7 M | 45.3 M | 74.5 M | 67.9 M | 44.7 M | 37.2 M | 27.3 M | 26.9 M | 13.6 M | 12.7 M |
Book Value |
1.06 B | 1.1 B | 894 M | 552 M | 307 M | 367 M | 511 M | 473 M | 640 M | 685 M | 617 M | 700 M | 705 M | 644 M | 584 M | 506 M | - | - |
Total Shareholders Equity |
1.01 B | 1.08 B | 894 M | 552 M | 307 M | 367 M | 508 M | 473 M | 640 M | 685 M | 617 M | 700 M | 705 M | 644 M | 584 M | 506 M | 407 M | 394 M |
All numbers in USD currency
Quarterly Balance Sheet Churchill Downs Incorporated
| 2026-Q2 | 2026-Q1 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
4.11 B | 4.86 B | 5.04 B | 4.94 B | 4.81 B | 4.77 B | 4.79 B | 4.86 B | 4.65 B | 3.07 B | 2.48 B | 2.48 B | - | - | - | 1.96 B | - | - | - | 1.62 B | - | - | - | 1.47 B | 385 M | 386 M | 386 M | 880 M | 387 M | 387 M | 387 M | 1.13 B | 633 M | 633 M | 633 M | 908 M | 313 M | 313 M | 313 M | 766 M | 172 M | 172 M | 172 M | 753 M | 459 M | 459 M | 459 M | 69.2 M | 369 M | 369 M | 369 M | - | - | - | 108 M | 128 M | 128 M | 128 M | 128 M |
Total Liabilities |
6.13 B | 6.34 B | 6.38 B | 6.31 B | 6.25 B | 6.06 B | 6.12 B | 6.24 B | 5.86 B | 5.72 B | 5.57 B | 5.66 B | 4.06 B | - | 2.72 B | 2.67 B | 2.63 B | 2.65 B | 2.58 B | 2.32 B | 2.32 B | 2.32 B | 2.32 B | 2.04 B | 2.04 B | 2.04 B | 2.04 B | 1.25 B | 1.25 B | 1.25 B | 1.25 B | 1.72 B | 1.72 B | 1.72 B | 1.72 B | 1.57 B | 1.57 B | 1.57 B | 1.57 B | 1.66 B | 1.66 B | 1.66 B | 1.66 B | 1.66 B | 1.66 B | 1.66 B | 1.66 B | 647 M | 647 M | 647 M | 647 M | 470 M | 470 M | 470 M | 470 M | 364 M | 364 M | 364 M | 364 M |
Deferred Revenue |
27 M | 158 M | 27.8 M | 17.5 M | 147 M | 26.8 M | 19.2 M | 153 M | 30.5 M | 25.8 M | 121 M | 39 M | 14.5 M | - | 104 M | 47.7 M | 25.7 M | 23.1 M | 52.5 M | 32.8 M | 42.4 M | 32.8 M | 32.8 M | 42.5 M | 14.1 M | 42.5 M | 42.5 M | 47.9 M | 12.8 M | 47.9 M | 47.9 M | 70.9 M | 70.9 M | 70.9 M | 70.9 M | 64.3 M | 64.3 M | 64.3 M | 64.3 M | 46 M | 46 M | 46 M | 46 M | 51.8 M | 51.8 M | 51.8 M | 51.8 M | 49.1 M | 49.1 M | 49.1 M | 49.1 M | 43.9 M | 43.9 M | 43.9 M | 43.9 M | 33.5 M | 33.5 M | 33.5 M | 33.5 M |
Retained Earnings |
1.34 B | 1.09 B | 1.04 B | 1.04 B | 1.07 B | 1.1 B | 1.03 B | 828 M | 890 M | 847 M | 700 M | 552 M | 614 M | - | 319 M | 308 M | 340 M | 310 M | 201 M | 350 M | 350 M | 350 M | 350 M | 509 M | 509 M | 509 M | 509 M | 474 M | 474 M | 474 M | 474 M | 634 M | 634 M | 634 M | 634 M | 570 M | 570 M | 570 M | 570 M | 484 M | 484 M | 484 M | 484 M | 438 M | 438 M | 438 M | 438 M | 409 M | 409 M | 409 M | 409 M | 370 M | 370 M | 370 M | 370 M | 324 M | 324 M | 324 M | 324 M |
Total Assets |
7.52 B | 7.48 B | 7.45 B | 7.38 B | 7.35 B | 7.17 B | 7.17 B | 7.07 B | 6.75 B | 6.58 B | 6.27 B | 6.21 B | 4.67 B | - | 3.04 B | 2.98 B | 2.97 B | 2.97 B | 2.79 B | 2.98 B | 2.69 B | 2.69 B | 2.69 B | 2.55 B | 2.55 B | 2.55 B | 2.55 B | 1.73 B | 1.73 B | 1.73 B | 1.73 B | 2.36 B | 2.36 B | 2.36 B | 2.36 B | 2.25 B | 2.25 B | 2.25 B | 2.25 B | 2.28 B | 2.28 B | 2.28 B | 2.28 B | 2.36 B | 2.36 B | 2.36 B | 2.36 B | 1.35 B | 1.35 B | 1.35 B | 1.35 B | 1.11 B | 1.11 B | 1.11 B | 1.11 B | 948 M | 948 M | 948 M | 948 M |
Cash and Cash Equivalents |
196 M | 200 M | 180 M | 182 M | 271 M | 231 M | 231 M | 222 M | 193 M | 441 M | 237 M | 130 M | 1.69 B | 1.9 B | 360 M | 291 M | 386 M | 342 M | 148 M | 67.4 M | 67.4 M | 67.4 M | 67.4 M | 96.2 M | 96.2 M | 96.2 M | 96.2 M | 133 M | 133 M | 133 M | 133 M | 51.7 M | 51.7 M | 51.7 M | 51.7 M | 83 M | 48.7 M | 48.7 M | 48.7 M | 74.5 M | 74.5 M | 74.5 M | 74.5 M | 74.5 M | 67.9 M | 67.9 M | 67.9 M | 44.7 M | 44.7 M | 44.7 M | 44.7 M | 37.2 M | 37.2 M | 37.2 M | 37.2 M | 27.3 M | 27.3 M | 27.3 M | 27.3 M |
Book Value |
1.39 B | 1.14 B | 1.08 B | 1.06 B | 1.09 B | 1.11 B | 1.05 B | 827 M | 889 M | 854 M | 704 M | 552 M | 613 M | - | 318 M | 307 M | 339 M | 317 M | 202 M | 662 M | 367 M | 367 M | 367 M | 511 M | 511 M | 511 M | 511 M | 473 M | 473 M | 473 M | 473 M | 640 M | 640 M | 640 M | 640 M | 685 M | 685 M | 685 M | 685 M | 617 M | 617 M | 617 M | 617 M | 700 M | 700 M | 700 M | 700 M | 705 M | 705 M | 705 M | 705 M | 644 M | 644 M | 644 M | 644 M | 584 M | 584 M | 584 M | 584 M |
Total Shareholders Equity |
1.34 B | 1.1 B | 1.03 B | 1.04 B | 1.07 B | 1.1 B | 1.03 B | 827 M | 889 M | 854 M | 704 M | 552 M | 613 M | 603 M | 318 M | 307 M | 339 M | 317 M | 202 M | 367 M | 372 M | 320 M | 433 M | 508 M | 508 M | 508 M | 508 M | 473 M | 473 M | 473 M | 473 M | 640 M | 640 M | 640 M | 640 M | 685 M | 685 M | 685 M | 685 M | 617 M | 617 M | 617 M | 617 M | 700 M | 700 M | 700 M | 700 M | 705 M | 705 M | 705 M | 705 M | 644 M | 644 M | 644 M | 644 M | 584 M | 584 M | 584 M | 584 M |
All numbers in USD currency
Balance Sheet is a fundamental financial report of Churchill Downs Incorporated, providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.
Balance sheet of other industry stocks – Gambling
| Issuer | Price | % 24h | Market Cap | Country | |
|---|---|---|---|---|---|
 |
International Game Technology PLC
IGT
|
- | 3.07 % | $ 3.29 B |  USA |
 |
PlayAGS
AGS
|
- | 0.08 % | $ 500 M | USA |
 |
Everi Holdings
EVRI
|
- | - | $ 1.21 B | USA |
 |
Golden Nugget Online Gaming, Inc.
GNOG
|
- | 5.09 % | $ 454 M | USA |
 |
Scientific Games Corporation
SGMS
|
- | 2.33 % | $ 5.61 B | USA |
 |
500.com Limited
WBAI
|
- | -10.01 % | $ 607 M |  China |
 |
Esports Entertainment Group
GMBL
|
- | 18.47 % | $ 3.19 M |  Malta |
 |
Canterbury Park Holding Corporation
CPHC
|
$ 15.58 | - | $ 79 M | USA |
 |
GAN Limited
GAN
|
- | - | $ 87 M |  Britain |
 |
Accel Entertainment
ACEL
|
$ 12.33 | -0.16 % | $ 1.05 B | USA |
 |
DraftKings
DKNG
|
$ 24.55 | -0.28 % | $ 9.88 B | USA |