CHDN
Churchill Downs margins
- Stocks
- Consumer Cyclical
- NASDAQ: CHDN
- Margins
At present, Churchill Downs reports a gross margin of 34.2%, an operating margin of 24.1%, an EBITDA margin of 37.2%, and a net margin of 13.8%. Gross margin recorded the largest improvement, rising by 0.7 percentage points. Net margin recorded the largest decline, falling by 1.4 percentage points.
CHDN margin history
Churchill Downs's margins averaged 33.65% gross, 24.47% operating, 38.05% EBITDA, and 14.71% net during the last 3 years. Against the three-year averages, gross margin is above its three-year average and operating, EBITDA, and net margins are below their three-year averages.
CHDN margin expansion
Churchill Downs's gross margin expanded by 0.7 percentage points, but operating margin contracted by 1.2 percentage points, EBITDA margin by 1 percentage point, and net margin by 1.4 percentage points.
CHDN Gross margin
Across the last 3 years, Churchill Downs had an average gross margin of 33.65%. The latest gross margin for Churchill Downs is 34.2%, 0.6 percentage points above its three-year average. Looking back over the last 3 years, Churchill Downs's gross margin reached 34.4% at its highest point in Sep 2024 and 32.3% at its lowest in Dec 2023.
CHDN Operating margin
Looking at the last 3 years, Churchill Downs had an average operating margin of 24.47%. Against its three-year average, Churchill Downs's operating margin is currently 24.1%, 0.4 percentage points below its three-year average. Looking back over the last 3 years, Churchill Downs's operating margin reached 25.9% at its highest point in Dec 2024 and 22.9% at its lowest in Dec 2023.
CHDN EBITDA margin
In the last 3 years, Churchill Downs had an average EBITDA margin of 38.05%. Against its three-year average, Churchill Downs's EBITDA margin is currently 37.2%, 0.9 percentage points below its three-year average. Looking back over the last 3 years, Churchill Downs's EBITDA margin reached 40.8% at its highest point in Dec 2023 and 36.5% at its lowest in Dec 2025.
CHDN Net margin
Across the last 3 years, Churchill Downs's net margin averaged 14.71%. Churchill Downs's current net margin is 13.8% and is 0.9 percentage points below its three-year average. Net margin was highest at 17% in Dec 2023 and lowest at 13.1% in Dec 2025.
CHDN margin group comparison
Churchill Downs's gross margin of 34.2% is below the Consumer Cyclical sector and the industry average. Looking at its Consumer Cyclical sector average of 36.2%, Churchill Downs's gross margin is 6% lower.
CHDN margin peer comparison
Frequently asked questions
What is Churchill Downs's gross margin?
As of Jun 30, 2026, CHDN has a gross margin of 34.2%.
What is Churchill Downs's operating margin?
For the period ending Jun 30, 2026, CHDN recorded an operating margin of 24.1%.
What is Churchill Downs's EBITDA margin?
As of Jun 30, 2026, CHDN has an EBITDA margin of 37.2%.
What is Churchill Downs's net margin?
As of Jun 30, 2026, CHDN has a net margin of 13.8%.
What are the average margins of CHDN?
Churchill Downs's average margins over the last 3 years were 33.7% gross, 24.5% operating, 38.1% EBITDA, and 14.7% net.
What are the highest historical margins of CHDN?
Looking back across 5 years, CHDN reached 34.4% gross in Sep 2024, 25.9% operating in Dec 2024, 54% EBITDA in Mar 2023, and 28.5% net in Jun 2022.
What are the lowest historical margins of CHDN?
Within the 5-year period, CHDN recorded its lowest margins at 27.9% gross in Dec 2021, 17.4% operating in Mar 2022, 33.3% EBITDA in Mar 2022, and 13.1% net in Dec 2025.