Churchill Downs annual operating expenses
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2025
Churchill Downs Operating Expenses Growth & History (CHDN)
Churchill Downs's operating expenses was $2.24B for fiscal 2025.
View full Churchill Downs company overviewChurchill Downs annual operating expenses history
| Fiscal year | Period ended | Operating expenses | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | $2.24B | $216.8M | +10.70% |
| 2024 | 2024-12-31 | $2.03B | $127.6M | +6.72% |
| 2023 | 2023-12-31 | $1.90B | $409.7M | +27.53% |
| 2022 | 2022-12-31 | $1.49B | $175.2M | +13.35% |
| 2021 | 2021-12-31 | $1.31B | $319.0M | +32.10% |
| 2020 | 2020-12-31 | $993.8M | −$120.2M | −10.79% |
| 2019 | 2019-12-31 | $1.11B | $293.8M | +35.82% |
| 2018 | 2018-12-31 | $820.2M | $83.3M | +11.30% |
| 2017 | 2017-12-31 | $736.9M | $87.0M | +13.39% |
| 2016 | 2016-12-31 | $649.9M | −$22.4M | −3.33% |
| 2015 | 2015-12-31 | $672.3M | −$49.5M | −6.86% |
| 2014 | 2014-12-31 | $721.8M | — | — |
Churchill Downs quarterly operating expenses
Q2.15
Q3.15
Q1.16
Q2.16
Q3.16
Q1.17
Q2.17
Q3.17
Q4.17
Q1.18
Q2.18
Q3.18
Q4.18
Q1.19
Q2.19
Q3.19
Q4.19
Q1.20
Q2.20
Q3.20
Q4.20
Q1.21
Q2.21
Q3.21
Q4.21
Q1.22
Q2.22
Q3.22
Q4.22
Q1.23
Q2.23
Q3.23
Q4.23
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Operating expenses | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $623.0M | $16.0M | +2.64% |
| Q1 2026 | 2026-03-31 | $520.0M | $12.0M | +2.36% |
| Q4 2025 | 2025-12-31 | $542.1M | $44.7M | +8.99% |
| Q3 2025 | 2025-09-30 | $585.0M | $82.4M | +16.39% |
| Q2 2025 | 2025-06-30 | $607.0M | $46.3M | +8.26% |
| Q1 2025 | 2025-03-31 | $508.0M | $43.4M | +9.34% |
| Q4 2024 | 2024-12-31 | $497.4M | $42.4M | +9.32% |
| Q3 2024 | 2024-09-30 | $502.6M | $42.4M | +9.21% |
| Q2 2024 | 2024-06-30 | $560.7M | $17.8M | +3.28% |
| Q1 2024 | 2024-03-31 | $464.6M | $25.0M | +5.69% |
| Q4 2023 | 2023-12-31 | $455.0M | −$13.4M | −2.86% |
| Q3 2023 | 2023-09-30 | $460.2M | $140.1M | +43.77% |
| Q2 2023 | 2023-06-30 | $542.9M | $160.1M | +41.82% |
| Q1 2023 | 2023-03-31 | $439.6M | $122.9M | +38.81% |
| Q4 2022 | 2022-12-31 | $468.4M | $138.3M | +41.90% |
| Q3 2022 | 2022-09-30 | $320.1M | −$5.3M | −1.63% |
| Q2 2022 | 2022-06-30 | $382.8M | $3.1M | +0.82% |
| Q1 2022 | 2022-03-31 | $316.7M | $39.1M | +14.09% |
| Q4 2021 | 2021-12-31 | $330.1M | $74.6M | +29.20% |
| Q3 2021 | 2021-09-30 | $325.4M | $37.1M | +12.87% |
| Q2 2021 | 2021-06-30 | $379.7M | $194.2M | +104.69% |
| Q1 2021 | 2021-03-31 | $277.6M | $13.1M | +4.95% |
| Q4 2020 | 2020-12-31 | $255.5M | −$21.6M | −7.80% |
| Q3 2020 | 2020-09-30 | $288.3M | $9.8M | +3.52% |
| Q2 2020 | 2020-06-30 | $185.5M | −$135.5M | −42.21% |
| Q1 2020 | 2020-03-31 | $264.5M | $27.1M | +11.42% |
| Q4 2019 | 2019-12-31 | $277.1M | $70.1M | +33.86% |
| Q3 2019 | 2019-09-30 | $278.5M | $77.7M | +38.70% |
| Q2 2019 | 2019-06-30 | $321.0M | $78.2M | +32.21% |
| Q1 2019 | 2019-03-31 | $237.4M | $67.8M | +39.98% |
| Q4 2018 | 2018-12-31 | $207.0M | $15.4M | +8.04% |
| Q3 2018 | 2018-09-30 | $200.8M | $30.9M | +18.19% |
| Q2 2018 | 2018-06-30 | $242.8M | $26.4M | +12.20% |
| Q1 2018 | 2018-03-31 | $169.6M | $10.6M | +6.67% |
| Q4 2017 | 2017-12-31 | $191.6M | — | — |
| Q3 2017 | 2017-09-30 | $169.9M | −$106.7M | −38.58% |
| Q2 2017 | 2017-06-30 | $216.4M | −$104.7M | −32.61% |
| Q1 2017 | 2017-03-31 | $159.0M | −$123.1M | −43.64% |
| Q3 2016 | 2016-09-30 | $276.6M | $6.2M | +2.29% |
| Q2 2016 | 2016-06-30 | $321.1M | $17.8M | +5.87% |
| Q1 2016 | 2016-03-31 | $282.1M | — | — |
| Q3 2015 | 2015-09-30 | $270.4M | — | — |
| Q2 2015 | 2015-06-30 | $303.3M | — | — |
Churchill Downs operating expenses trends
Over the last five fiscal years, Churchill Downs's operating expenses increased from $993.8M to $2.24B, a change of $1.25B. The latest reported quarter, Q2 2026, shows $623.0M.
About the metric
What operating expenses mean
Operating expenses are the recurring costs of running a company’s business beyond the direct costs used to calculate gross profit. They commonly include selling, general and administrative expenses, research and development, and other operating costs.
Calculation and source
SEC-reported and calculated operating expenses
TickerStat uses operating expenses reported in company SEC filings when available. When a separate total is unavailable, it calculates operating expenses as aligned gross profit minus operating income for the same fiscal period. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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