Churchill Downs annual debt-to-equity ratio
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2025
Churchill Downs Debt-to-Equity Ratio Growth & History (CHDN)
Churchill Downs's debt-to-equity ratio was 5.17 for fiscal 2025.
View full Churchill Downs company overviewChurchill Downs annual debt-to-equity ratio history
| Fiscal year | Period ended | Debt-to-equity ratio | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | 5.17 | 0.55 | +11.98% |
| 2024 | 2024-12-31 | 4.62 | −0.91 | −16.46% |
| 2023 | 2023-12-31 | 5.53 | −2.97 | −34.98% |
| 2022 | 2022-12-31 | 8.50 | 1.92 | +29.12% |
| 2021 | 2021-12-31 | 6.58 | 2.04 | +44.93% |
| 2020 | 2020-12-31 | 4.54 | 1.56 | +52.09% |
| 2019 | 2019-12-31 | 2.99 | 1.09 | +57.77% |
| 2018 | 2018-12-31 | 1.89 | 0.11 | +6.14% |
| 2017 | 2017-12-31 | 1.78 | 0.43 | +31.72% |
| 2016 | 2016-12-31 | 1.35 | 0.08 | +5.95% |
| 2015 | 2015-12-31 | 1.28 | 0.18 | +16.14% |
| 2014 | 2014-12-31 | 1.10 | 0.58 | +110.06% |
| 2013 | 2013-12-31 | 0.52 | 0.20 | +60.92% |
| 2012 | 2012-12-31 | 0.33 | 0.11 | +49.03% |
| 2011 | 2011-12-31 | 0.22 | −0.31 | −58.30% |
| 2010 | 2010-12-31 | 0.52 | — | — |
Churchill Downs quarterly debt-to-equity ratio
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Q2.26
| Fiscal quarter | Period ended | Debt-to-equity ratio | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | 3.56 | −1.24 | −25.90% |
| Q1 2026 | 2026-03-31 | 4.50 | −0.05 | −1.17% |
| Q4 2025 | 2025-12-31 | 5.17 | 0.55 | +11.98% |
| Q3 2025 | 2025-09-30 | 4.93 | 0.53 | +11.98% |
| Q2 2025 | 2025-06-30 | 4.80 | 0.09 | +1.91% |
| Q1 2025 | 2025-03-31 | 4.55 | −1.41 | −23.65% |
| Q4 2024 | 2024-12-31 | 4.62 | −0.91 | −16.46% |
| Q3 2024 | 2024-09-30 | 4.41 | −0.91 | −17.09% |
| Q2 2024 | 2024-06-30 | 4.71 | 1.04 | +28.30% |
| Q1 2024 | 2024-03-31 | 5.96 | 2.34 | +64.55% |
| Q4 2023 | 2023-12-31 | 5.53 | −2.97 | −34.98% |
| Q3 2023 | 2023-09-30 | 5.31 | 5.30 | +46415.13% |
| Q2 2023 | 2023-06-30 | 3.67 | 3.66 | +31543.02% |
| Q1 2023 | 2023-03-31 | 3.62 | 3.60 | +16339.29% |
| Q4 2022 | 2022-12-31 | 8.50 | 1.92 | +29.12% |
| Q3 2022 | 2022-09-30 | 0.01 | −0.01 | −44.70% |
| Q2 2022 | 2022-06-30 | 0.01 | −0.01 | −47.35% |
| Q1 2022 | 2022-03-31 | 0.02 | −0.01 | −36.38% |
| Q4 2021 | 2021-12-31 | 6.58 | 2.04 | +44.93% |
| Q3 2021 | 2021-09-30 | 0.02 | 0.01 | +92.25% |
| Q2 2021 | 2021-06-30 | 0.02 | 0.01 | +76.49% |
| Q1 2021 | 2021-03-31 | 0.03 | 0.03 | +274.75% |
| Q4 2020 | 2020-12-31 | 4.54 | 1.56 | +52.09% |
| Q3 2020 | 2020-09-30 | 0.01 | −0.75 | −98.58% |
| Q2 2020 | 2020-06-30 | 0.01 | −0.74 | −98.34% |
| Q1 2020 | 2020-03-31 | 0.01 | −0.90 | −98.99% |
| Q4 2019 | 2019-12-31 | 2.99 | 1.09 | +57.77% |
| Q3 2019 | 2019-09-30 | 0.76 | −0.01 | −0.81% |
| Q2 2019 | 2019-06-30 | 0.75 | −0.12 | −13.28% |
| Q1 2019 | 2019-03-31 | 0.91 | −0.23 | −20.23% |
| Q4 2018 | 2018-12-31 | 1.89 | 0.11 | +6.14% |
| Q3 2018 | 2018-09-30 | 0.76 | −0.08 | −9.68% |
| Q2 2018 | 2018-06-30 | 0.87 | 0.07 | +9.45% |
| Q1 2018 | 2018-03-31 | 1.14 | 0.60 | +111.30% |
| Q4 2017 | 2017-12-31 | 1.78 | 0.43 | +31.72% |
| Q3 2017 | 2017-09-30 | 0.84 | 0.38 | +80.13% |
| Q2 2017 | 2017-06-30 | 0.79 | 0.30 | +62.47% |
| Q1 2017 | 2017-03-31 | 0.54 | −0.09 | −14.66% |
| Q4 2016 | 2016-12-31 | 1.35 | 0.08 | +5.95% |
| Q3 2016 | 2016-09-30 | 0.47 | 0.09 | +24.97% |
| Q2 2016 | 2016-06-30 | 0.49 | 0.07 | +17.57% |
| Q1 2016 | 2016-03-31 | 0.63 | 0.06 | +10.99% |
| Q4 2015 | 2015-12-31 | 1.28 | 0.18 | +16.14% |
| Q3 2015 | 2015-09-30 | 0.37 | −0.16 | −30.11% |
| Q2 2015 | 2015-06-30 | 0.41 | −0.11 | −20.25% |
| Q1 2015 | 2015-03-31 | 0.57 | 0.05 | +10.22% |
| Q4 2014 | 2014-12-31 | 1.10 | 0.58 | +110.06% |
| Q3 2014 | 2014-09-30 | 0.54 | 0.09 | +19.57% |
| Q2 2014 | 2014-06-30 | 0.52 | 0.30 | +140.23% |
| Q1 2014 | 2014-03-31 | 0.52 | 0.23 | +81.27% |
| Q4 2013 | 2013-12-31 | 0.52 | 0.20 | +60.92% |
| Q3 2013 | 2013-09-30 | 0.45 | 0.34 | +319.22% |
| Q2 2013 | 2013-06-30 | 0.22 | 0.12 | +121.99% |
| Q1 2013 | 2013-03-31 | 0.29 | 0.10 | +57.52% |
| Q4 2012 | 2012-12-31 | 0.33 | 0.11 | +49.03% |
| Q3 2012 | 2012-09-30 | 0.11 | −0.16 | −59.90% |
| Q2 2012 | 2012-06-30 | 0.10 | −0.23 | −70.25% |
| Q1 2012 | 2012-03-31 | 0.18 | — | — |
| Q4 2011 | 2011-12-31 | 0.22 | −0.31 | −58.30% |
| Q3 2011 | 2011-09-30 | 0.27 | — | — |
| Q2 2011 | 2011-06-30 | 0.33 | — | — |
| Q4 2010 | 2010-12-31 | 0.52 | — | — |
Churchill Downs debt-to-equity ratio trends
Over the last five fiscal years, Churchill Downs's debt-to-equity ratio increased from 4.54 to 5.17, a change of 0.63. The latest reported quarter, Q2 2026, shows 3.56.
About the metric
What the debt-to-equity ratio means
The debt-to-equity ratio compares interest-bearing debt with shareholders’ equity. It helps show how much debt financing a company uses relative to its accounting equity, but useful comparison levels vary by industry.
Calculation and source
How debt-to-equity is calculated
TickerStat calculates debt-to-equity as total interest-bearing debt divided by SEC-reported shareholders’ equity for the same balance-sheet date. Total liabilities are not treated as debt, and periods with non-positive equity are omitted. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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