Business
Churchill Downs operates live and historical racing, wagering services and solutions, and gaming businesses anchored by the Kentucky Derby.
Churchill Downs grew revenue, but margins, earnings, and equity slipped.
The read at a glance✓ Audited against SEC data
- Business mix — Racing, wagering, and gamingNote
- Revenue — $2.926B, +7.0%OK
- Net income — $383.0M, -10.3%Watch
- Margins — Operating and net margins downWatch
- Buybacks — $427.8M, +130.0%OK
- Insiders — No purchases or salesNote
- Accounting — Altman weak; Beneish cleanWatch
Where the revenue comes from
Fiscal 2025, as Churchill Downs Inc reports it. History and quarterly detail are in the app.
- Live and Historical Racing$1.4B
- Gaming$1.0B
- Historical racing$1.0B
- Live and simulcast racing$491.5M
- Wagering Services and Solutions$488.2M
Leadership changes
From Churchill Downs Inc's own filings, the day they're filed.
- Maureen Adams · President · departureeff. 2025-12-31
- Churchill Downs Incorporated · President · departureeff. 2025-12-31
- Robert L. Fealy · director · departureeff. 2024-07-23
Latest filings
- 8-K · Company announcement2026-07-29
- 8-K · Company announcement2026-07-29
- 10-Q · Quarterly report2026-07-29
- 10-Q · Quarterly report2026-04-22
- 8-K · Company announcement2026-04-22
In the full recordFree for 14 days
- What changed🔒
- Insider signal🔒
- Growth quality🔒
- Margins & accounting🔒
- Capital allocation🔒
- Real risks🔒
- The long arc🔒
- Company history🔒
- Main tension🔒
- The filings, readable — with what changed vs the prior year highlighted🔒
- Full financial statements, industry-aware, sources cited throughout🔒
- Forensic score history & components — the trend, not one year🔒
- Ownership: insider buys/sells, clusters, activist stakes🔒
- Ana — ask about Churchill Downs Inc, every answer cited to the official filings🔒
Every figure comes from the company's filings, and analysis whose figures don't match SEC data is rejected before publication.
14-day free trial, no credit card. For research purposes only; not investment advice.