Pulling SEC filings + quote and writing the call…
Pulling SEC filings + quote and writing the call…

Churchill Downs Inc
Next earnings Jul 21, 2026 (after close) · consensus $3.49 EPS, $997M rev
Last earnings -2.1% on 2026-04-22
Iconic Kentucky Derby owner compounding gaming revenue with strong cash flow at 16x; debt and a soft 2025 EPS dip are the watch items.
Sources: SEC EDGAR (CIK 0000020212, latest 10-Q filed 2026-04-22) · EODHD · analysis by claude-code · as of 6/21/2026, 8:54:37 PM.
Research and education only — not financial advice. Calls are generated from SEC filings and a delayed/third-party price feed, may be wrong or out of date, and are not a recommendation to buy or sell any security. Do your own research.
The fundamentals carry the rating, but the price is rich (~48% above our fair-value estimate) — a quality-at-a-price call. The case rests on the business, not the entry; patient buyers may wait for a pullback.
Churchill Downs owns one of the most durable assets in American entertainment — the Kentucky Derby and Churchill Downs Racetrack — alongside a diversified portfolio of regional casinos, historical-racing machine (HRM) venues, and online wagering (TwinSpires). The growth engine keeps running: FY2025 revenue rose 7.0% to $2.93B, extending a steady climb from $1.60B in FY2021, and operating margin remained strong at 23.4%. The Derby franchise gives the company genuine pricing power and a defensible moat that regional gaming peers lack.
The risks, catalysts, 12-month price target and the cited SEC figures behind this rating — with Pro.
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| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $1.60B | $1.81B | $2.46B | $2.73B | $2.93B |
| Gross profit | — | — | — | — | — |
| Operating income | $284M | $322M | $564M | $709M | $684M |
| Net income | $249M | $439M | $417M | $427M | $383M |
| Diluted EPS | $3.18 | $5.71 | $5.49 | — | — |
| Net margin | 15.6% | 24.3% | 17.0% | 15.6% | 13.1% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
1482 tracked peers · median
Disclosed under the STOCK Act
Self-reported periodic transaction reports (STOCK Act). Amounts are disclosed ranges; a trade may be a spouse's. Disclosures lag the trade by up to ~45 days. Source: House Clerk + Senate eFD.
Source: EODHD. Yield = trailing-12-month dividends ÷ price.
Recent news tone vs the market's typical (which skews positive). A soft signal, not a recommendation.
| 2026-04-21 | Rankin Richard Alex Director | Award | 2.26K | |
| 2026-04-21 | HARRINGTON DANIEL P Director | Award | 2.26K | |
| 2026-04-21 | HARRINGTON DANIEL P Director | Award | 0.00 | |
| 2026-04-21 | GRISSOM DOUGLAS C Director | Award | 2.26K | |
| 2026-04-21 | VARGA PAUL C Director | Award | 2.26K | |
| 2026-04-21 | Lloyd Karole Director | Award | 2.26K | |
| 2026-04-21 | Carter Andrea M Director | Award | 2.26K | |
| 2026-03-31 | GRISSOM DOUGLAS C Director | Award | 382.67 |
Dates from 8-K (Item 2.02); beat/miss = reported EPS vs consensus (Finnhub, recent quarters); move = prior close → close on/after.