PENN Entertainment (PENN) Financials

$15.83 -0.14 (-0.88%)

Closing price 04:00 PM Eastern

Extended Trading

$15.82 -0.01 (-0.09%)

As of 06:07 PM Eastern

Annual Income Statements for PENN Entertainment

This table shows PENN Entertainment's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	0.69	109	473	94	44	-670	421	222	-490	-312
Consolidated Net Income / (Loss)	0.69	109	473	94	43	-669	421	222	-491	-313
Net Income / (Loss) Continuing Operations	0.69	109	473	94	43	-669	421	222	-491	-313
Total Pre-Tax Income	57	121	-25	90	86	-834	539	175	-500	-341
Total Operating Income	468	543	446	634	572	-410	1,060	974	-690	73
Total Gross Profit	1,567	1,277	1,335	1,540	2,347	1,711	2,757	2,770	2,362	2,164
Total Revenue	2,838	3,034	3,148	3,588	5,301	3,579	5,905	6,402	6,363	6,578
Operating Revenue	2,993	3,034	3,332	3,588	5,301	3,579	5,905	6,402	6,363	6,578
Total Cost of Revenue	1,272	1,758	1,813	2,048	2,955	1,868	3,148	3,632	4,001	4,415
Operating Cost of Revenue	1,272	1,758	1,813	2,048	2,955	1,868	3,148	3,632	4,001	4,415
Total Operating Expenses	1,099	734	889	906	1,775	2,121	1,697	1,796	3,052	2,091
Selling, General & Admin Expense	449	462	515	619	1,188	1,131	1,353	1,110	1,563	1,568
Depreciation Expense	259	271	267	269	414	367	345	568	435	434
Other Operating Expenses / (Income)	350	-	90	-17	-	-	0.00	0.00	923	0.00
Impairment Charge	40	0.00	18	35	173	623	0.00	118	131	89
Total Other Income / (Expense), net	-411	-422	-471	-544	-486	-424	-521	-799	191	-414
Interest Expense	443	459	24	21	0.00	1.20	0.00	10	0.00	0.30
Interest & Investment Income	26	24	-445	-516	-506	-529	-523	-716	185	-419
Other Income / (Expense), net	5.87	13	-2.30	-7.10	20	107	2.50	-72	5.50	5.30
Income Tax Expense	56	11	-499	-3.60	43	-165	119	-46	-8.20	-28
Net Income / (Loss) Attributable to Noncontrolling Interest	-	0.00	0.00	0.00	-0.80	0.40	-0.30	-0.40	-1.40	-1.80
Basic Earnings per Share	$0.01	$1.21	$5.21	$0.96	$0.38	($5.00)	$2.64	$1.37	($3.22)	($2.05)
Weighted Average Basic Shares Outstanding	80.00M	82.93M	90.90M	97.10M	115.70M	134M	158.70M	161.20M	152.10M	152.10M
Diluted Earnings per Share	$0.01	$1.19	$5.07	$0.93	$0.37	($5.00)	$2.48	$1.29	($3.22)	($2.05)
Weighted Average Diluted Shares Outstanding	90.90M	91.41M	93.40M	100.30M	117.80M	134M	175.50M	176.60M	152.10M	152.10M
Weighted Average Basic & Diluted Shares Outstanding	68.60M	90.30M	90.90M	116.84M	116.86M	156.49M	168.32M	152.59M	152.42M	152.95M

This table shows PENN Entertainment's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	124	21	515	78	-725	-358	-115	-27	-37	-133
Consolidated Net Income / (Loss)	123	21	514	78	-725	-359	-115	-27	-38	-134
Net Income / (Loss) Continuing Operations	123	21	514	78	-725	-359	-115	-27	-38	-134
Total Pre-Tax Income	-59	53	682	113	-887	-408	-128	-30	-35	-149
Total Operating Income	137	243	199	206	-786	-308	-21	75	68	-48
Total Gross Profit	668	670	700	696	649	317	476	572	569	546
Total Revenue	1,625	1,586	1,673	1,675	1,619	1,395	1,607	1,663	1,639	1,669
Operating Revenue	1,625	1,586	1,673	1,675	1,619	1,395	1,607	1,663	1,639	1,669
Total Cost of Revenue	957	916	974	978	970	1,078	1,131	1,091	1,071	1,123
Operating Cost of Revenue	957	916	974	978	970	1,078	1,131	1,091	1,071	1,123
Total Operating Expenses	531	427	500	491	1,435	626	498	498	501	595
Selling, General & Admin Expense	278	263	393	380	406	384	389	389	393	398
Depreciation Expense	149	150	108	111	106	111	109	109	109	107
Total Other Income / (Expense), net	-196	-190	483	-93	-100	-100	-106	-105	-102	-101
Interest & Investment Income	-187	-186	484	-99	-100	-101	-105	-106	-105	-103
Other Income / (Expense), net	-8.80	-4.80	-1.00	5.80	-0.30	1.00	-1.30	1.00	2.80	2.80
Income Tax Expense	-182	32	168	35	-162	-49	-13	-3.20	2.80	-15
Net Income / (Loss) Attributable to Noncontrolling Interest	-0.30	-	-0.10	-0.30	-0.30	-0.70	-0.20	-0.30	-0.80	-0.50
Basic Earnings per Share	$0.78	$0.12	$3.35	$0.51	($4.80)	($2.28)	($0.76)	($0.18)	($0.24)	($0.87)
Weighted Average Basic Shares Outstanding	157.60M	161.20M	153.30M	152.80M	150.90M	152.10M	151.90M	152.10M	152.20M	152.10M
Diluted Earnings per Share	$0.72	$0.13	$3.05	$0.48	($4.80)	($1.95)	($0.76)	($0.18)	($0.24)	($0.87)
Weighted Average Diluted Shares Outstanding	173M	176.60M	168.60M	167.90M	150.90M	152.10M	151.90M	152.10M	152.20M	152.10M
Weighted Average Basic & Diluted Shares Outstanding	155.12M	152.59M	154.12M	151.04M	151.76M	152.42M	152.45M	152.60M	152.63M	152.95M

This table details how cash moves in and out of PENN Entertainment's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	28	-11	49	202	-26	1,415	9.70	-236	-550	-371
Net Cash From Operating Activities	414	408	478	353	704	339	896	878	456	359
Net Cash From Continuing Operating Activities	414	408	478	353	704	339	896	878	456	359
Net Income / (Loss) Continuing Operations	0.69	109	473	94	43	-669	421	222	-491	-313
Consolidated Net Income / (Loss)	0.69	109	473	94	43	-669	421	222	-491	-313
Depreciation Expense	259	271	267	269	414	367	345	568	435	434
Amortization Expense	6.60	7.20	7.00	6.40	7.70	137	23	9.00	8.10	8.70
Non-Cash Adjustments To Reconcile Net Income	63	16	148	60	136	704	203	379	910	584
Changes in Operating Assets and Liabilities, net	84	3.87	-417	-76	103	-199	-95	-299	-406	-354
Net Cash From Investing Activities	-781	-79	-222	-1,423	-608	-234	-1,222	-259	-743	-541
Net Cash From Continuing Investing Activities	-781	-79	-222	-1,423	-608	-234	-1,222	-259	-743	-541
Purchase of Property, Plant & Equipment	-199	-97	-99	-93	-191	-137	-244	-263	-360	-483
Acquisitions	-453	-87	-129	-2,027	-1,371	-143	-970	-9.00	-337	-58
Sale of Property, Plant & Equipment	0.56	18	0.00	16	0.60	16	1.50	4.90	0.50	4.00
Divestitures	-	0.00	0.00	662	961	-	0.00	0.00	-51	0.00
Sale and/or Maturity of Investments	-	30	8.20	0.50	-	-	0.00	-15	8.00	0.50
Other Investing Activities, net	-130	57	-1.20	19	-2.40	30	-9.40	24	-3.70	-5.10
Net Cash From Financing Activities	396	-340	-207	1,272	-122	1,310	340	-853	-263	-187
Net Cash From Continuing Financing Activities	396	-340	-207	1,272	-122	1,310	340	-853	-263	-187
Repayment of Debt	-165	-472	-1,654	-630	-450	-872	-99	-1,630	-66	-60
Repurchase of Common Equity	-	0.00	-25	-50	-25	0.00	0.00	-601	-150	0.00
Issuance of Debt	562	123	1,456	1,760	412	862	473	1,545	0.00	0.00
Other Financing Activities, net	-1.16	9.31	15	192	-59	31	-34	-167	-47	-126
Effect of Exchange Rate Changes	-	-	-	-	0.00	-	-4.50	-2.50	-0.40	-2.30
Cash Interest Paid	434	453	453	530	528	355	515	722	420	416
Cash Income Taxes Paid	5.12	-11	-43	24	22	-15	108	73	74	-3.80

This table details how cash moves in and out of PENN Entertainment's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Change in Cash & Equivalents	30	-111	-312	-40	50	-248	-167	-27	-38	-139
Net Cash From Operating Activities	324	118	148	176	217	-85	-69	150	175	103
Net Cash From Continuing Operating Activities	324	118	148	176	217	-85	-69	150	175	103
Net Income / (Loss) Continuing Operations	123	21	514	78	-725	-359	-115	-27	-38	-134
Consolidated Net Income / (Loss)	123	21	514	78	-725	-359	-115	-27	-38	-134
Depreciation Expense	149	150	108	111	106	111	109	109	109	107
Amortization Expense	2.10	2.00	2.00	2.10	2.10	1.90	2.20	2.10	2.30	2.10
Non-Cash Adjustments To Reconcile Net Income	159	58	-464	-79	979	474	120	134	-103	432
Changes in Operating Assets and Liabilities, net	-109	-113	-12	64	-145	-313	-185	-68	204	-305
Net Cash From Investing Activities	-66	-79	-378	-85	-123	-157	-47	-99	-167	-229
Net Cash From Continuing Investing Activities	-66	-79	-378	-85	-123	-157	-47	-99	-167	-229
Purchase of Property, Plant & Equipment	-64	-74	-63	-70	-75	-152	-41	-88	-132	-221
Acquisitions	-2.20	-4.90	-315	-12	-5.40	-4.80	0.00	-17	-32	-8.50
Sale of Property, Plant & Equipment	0.30	-	-	-	0.10	0.30	-	-	0.30	0.20
Other Investing Activities, net	15	0.10	-0.40	-3.50	0.10	0.10	-5.90	3.10	-3.10	0.80
Net Cash From Financing Activities	-228	-148	-83	-131	-44	-4.70	-50	-79	-46	-12
Net Cash From Continuing Financing Activities	-228	-148	-83	-131	-44	-4.70	-50	-79	-46	-12
Repayment of Debt	-16	-16	-13	-9.70	-23	-21	-16	-21	-12	-11
Other Financing Activities, net	-44	-41	-20	-22	-21	16	-34	-58	-34	-0.40
Effect of Exchange Rate Changes	-	-	1.50	-0.50	-	-1.40	-0.80	-0.10	-	-1.40
Cash Interest Paid	197	187	111	97	114	99	114	98	112	91
Cash Income Taxes Paid	0.80	27	1.10	65	7.90	-	0.60	0.30	-2.00	-2.70

This table presents PENN Entertainment's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	5,139	4,974	5,235	10,961	14,195	14,667	16,872	17,502	16,064	15,262
Total Current Assets	372	399	401	678	643	2,085	2,224	2,013	1,659	1,154
Cash & Equivalents	237	230	278	480	437	1,854	1,864	1,624	1,072	707
Accounts Receivable	45	62	63	107	89	96	195	247	319	257
Prepaid Expenses	77	60	44	63	77	104	132	106	226	152
Other Current Assets	13	48	16	28	40	31	32	36	43	39
Plant, Property, & Equipment, net	2,980	2,820	2,757	6,869	5,120	4,529	4,582	4,516	3,514	3,705
Total Noncurrent Assets	1,786	1,755	2,077	3,415	8,432	8,053	10,066	10,973	10,891	10,402
Long-Term Investments	168	156	149	129	128	267	255	249	85	86
Noncurrent Note & Lease Receivables	198	91	21	0.00	-	-	-	-	2,041	2,014
Goodwill	912	990	1,008	1,228	1,271	1,157	2,823	2,690	2,695	2,563
Intangible Assets	391	435	423	1,857	2,027	1,514	1,873	1,739	1,618	1,530
Other Noncurrent Operating Assets	117	82	86	120	5,006	5,116	5,116	6,296	4,452	4,209
Total Liabilities & Shareholders' Equity	5,139	4,974	5,235	10,961	14,195	14,667	16,872	17,502	16,064	15,262
Total Liabilities	5,817	5,518	5,308	10,230	12,343	12,012	12,775	13,906	12,865	12,403
Total Current Liabilities	558	536	530	738	906	860	1,133	1,159	1,490	1,415
Short-Term Debt	143	142	92	62	63	81	100	56	48	38
Accounts Payable	73	35	26	31	40	33	53	40	37	51
Accrued Expenses	94	102	126	578	631	575	799	805	1,022	907
Other Current Liabilities	143	159	92	68	171	170	182	258	384	419
Total Noncurrent Liabilities	5,259	4,981	4,778	9,491	11,437	11,152	11,642	12,747	11,375	10,988
Long-Term Debt	1,619	1,330	1,215	2,350	2,322	2,231	2,637	2,721	2,718	2,733
Noncurrent Deferred & Payable Income Tax Liabilities	108	154	34	0.00	245	126	189	34	118	61
Other Noncurrent Operating Liabilities	18	40	47	7,141	8,870	8,794	8,815	9,992	8,539	8,195
Commitments & Contingencies	-	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-678	-543	-73	731	1,852	2,656	4,097	3,597	3,200	2,858
Total Preferred & Common Equity	-678	-543	-73	731	1,853	2,656	4,098	3,598	3,202	2,863
Preferred Stock	-	-	0.00	0.00	0.00	23	26	19	0.00	0.00
Total Common Equity	-678	-543	-73	731	1,853	2,632	4,072	3,578	3,202	2,863
Common Stock	990	1,015	1,009	1,728	1,720	3,167	4,241	4,222	4,438	4,544
Retained Earnings	-1,635	-1,525	-1,052	-968	162	-507	-87	155	-336	-647
Treasury Stock	-28	-28	-28	-28	-28	-28	-28	-630	-780	-780
Accumulated Other Comprehensive Income / (Loss)	-4.55	-4.68	-1.45	-	-	0.00	-54	-169	-121	-255
Noncontrolling Interest	-	-	0.00	0.00	-0.80	-0.40	-0.70	-1.10	-2.50	-4.30

This table presents PENN Entertainment's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024
Total Assets	17,535	17,040	17,028	16,169	15,614	15,538	15,515
Total Current Assets	2,059	1,753	1,736	1,781	1,393	1,333	1,281
Cash & Equivalents	1,728	1,311	1,272	1,318	904	878	834
Accounts Receivable	156	260	290	253	282	252	240
Prepaid Expenses	112	124	114	168	157	158	156
Other Current Assets	63	23	28	31	50	45	51
Plant, Property, & Equipment, net	4,517	3,443	3,444	3,461	3,467	3,498	3,581
Total Noncurrent Assets	10,959	11,843	11,849	10,927	10,754	10,707	10,653
Long-Term Investments	246	87	86	83	85	87	89
Noncurrent Note & Lease Receivables	-	-	-	-	2,019	2,060	2,037
Goodwill	2,662	2,926	2,957	2,687	2,665	2,648	2,664
Intangible Assets	1,755	2,226	2,219	1,721	1,606	1,606	1,625
Other Noncurrent Operating Assets	6,297	6,605	6,586	6,435	4,380	4,307	4,238
Total Liabilities & Shareholders' Equity	17,535	17,040	17,028	16,169	15,614	15,538	15,515
Total Liabilities	13,919	12,865	12,819	12,688	12,542	12,485	12,454
Total Current Liabilities	1,148	1,271	1,227	1,253	1,338	1,300	1,361
Short-Term Debt	56	56	56	57	48	38	38
Accounts Payable	41	46	52	45	38	46	67
Accrued Expenses	798	802	750	790	865	810	846
Other Current Liabilities	254	367	368	362	387	406	411
Total Noncurrent Liabilities	12,771	11,594	11,593	11,435	11,205	11,186	11,092
Long-Term Debt	2,730	2,721	2,723	2,715	2,718	2,722	2,727
Noncurrent Deferred & Payable Income Tax Liabilities	38	230	262	155	45	74	84
Other Noncurrent Operating Liabilities	10,003	8,642	8,608	8,565	8,442	8,389	8,281
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	3,616	4,175	4,209	3,481	3,072	3,053	3,061
Total Preferred & Common Equity	3,617	4,176	4,210	3,483	3,075	3,056	3,065
Preferred Stock	19	12	12	0.00	0.00	0.00	0.00
Total Common Equity	3,596	4,165	4,199	3,483	3,075	3,056	3,065
Common Stock	4,202	4,335	4,355	4,408	4,462	4,489	4,516
Retained Earnings	134	669	747	23	-450	-477	-514
Treasury Stock	-539	-680	-	-780	-780	-780	-780
Accumulated Other Comprehensive Income / (Loss)	-201	-160	-124	-169	-157	-177	-158
Noncontrolling Interest	-1.10	-1.20	-1.50	-1.80	-2.70	-3.00	-3.80

This table displays calculated financial ratios and metrics derived from PENN Entertainment's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	9.57%	6.91%	3.74%	13.97%	47.76%	-32.50%	65.00%	8.41%	-0.61%	3.38%
EBITDA Growth	38.82%	12.75%	-13.98%	25.77%	12.34%	-80.30%	615.77%	3.43%	-116.34%	315.36%
EBIT Growth	82.11%	17.30%	-20.21%	41.41%	-5.60%	-151.29%	449.84%	-15.08%	-175.92%	111.36%
NOPAT Growth	-96.85%	8,580.21%	-36.60%	111.38%	-56.59%	-200.30%	387.84%	49.04%	-139.22%	110.50%
Net Income Growth	100.37%	15,834.40%	333.08%	-80.25%	-53.90%	-1,652.44%	162.85%	-47.28%	-321.65%	36.24%
EPS Growth	100.43%	11,800.00%	326.05%	-81.66%	-60.22%	-1,451.35%	149.60%	-47.98%	-349.61%	36.34%
Operating Cash Flow Growth	57.81%	-1.41%	17.12%	-26.16%	99.52%	-51.87%	164.49%	-2.00%	-48.09%	-21.19%
Free Cash Flow Firm Growth	-1,163.59%	258.50%	-97.61%	14,726.29%	-135.01%	163.12%	-294.01%	238.88%	-154.67%	102.90%
Invested Capital Growth	11.63%	-4.58%	7.38%	-41.07%	44.81%	-22.43%	65.56%	-4.53%	6.82%	0.58%
Revenue Q/Q Growth	3.00%	0.30%	0.84%	12.06%	3.64%	-8.06%	10.17%	0.21%	-2.90%	4.34%
EBITDA Q/Q Growth	25.47%	5.04%	-13.45%	15.93%	-8.14%	422.77%	-7.36%	17.34%	-170.37%	98.59%
EBIT Q/Q Growth	44.90%	7.09%	-18.68%	17.22%	-13.79%	29.71%	3.22%	6.19%	-391.88%	142.21%
NOPAT Q/Q Growth	-97.47%	-2.37%	-95.11%	154.35%	-54.09%	20.89%	12.88%	-7.77%	-396.90%	138.60%
Net Income Q/Q Growth	100.49%	14.81%	-42.02%	146.15%	-54.19%	13.64%	8.26%	-9.77%	-339.53%	41.80%
EPS Q/Q Growth	100.57%	4.39%	-41.86%	142.86%	-44.78%	26.69%	-23.93%	-7.86%	-182.46%	34.50%
Operating Cash Flow Q/Q Growth	24.72%	-4.61%	7.79%	-16.53%	23.10%	-16.45%	-0.10%	0.13%	-30.81%	109.38%
Free Cash Flow Firm Q/Q Growth	81.86%	66.35%	-99.73%	427.72%	-183.70%	-4.20%	-225.58%	673.07%	-51.27%	112.56%
Invested Capital Q/Q Growth	-0.01%	-6.65%	-8.91%	-40.35%	-4.86%	-3.01%	66.04%	1.68%	-0.90%	-1.37%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	55.20%	42.07%	42.41%	42.92%	44.27%	47.80%	46.69%	43.27%	37.12%	32.89%
EBITDA Margin	26.06%	27.49%	22.79%	25.15%	19.12%	5.58%	24.21%	23.09%	-3.80%	7.91%
Operating Margin	16.48%	17.90%	14.16%	17.67%	10.79%	-11.46%	17.94%	15.21%	-10.85%	1.10%
EBIT Margin	16.69%	18.31%	14.09%	17.48%	11.17%	-8.48%	17.99%	14.09%	-10.76%	1.18%
Profit (Net Income) Margin	0.02%	3.60%	15.04%	2.61%	0.81%	-18.70%	7.12%	3.46%	-7.72%	-4.76%
Tax Burden Percent	1.21%	90.63%	-1,886.06%	104.00%	50.06%	80.21%	78.00%	126.47%	98.36%	91.80%
Interest Burden Percent	11.95%	21.71%	-5.66%	14.34%	14.55%	274.77%	50.76%	19.44%	72.97%	-438.69%
Effective Tax Rate	98.79%	9.37%	0.00%	-4.00%	49.94%	0.00%	22.00%	-26.47%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.14%	11.99%	7.51%	19.29%	9.23%	-8.81%	21.86%	26.73%	-10.38%	1.05%
ROIC Less NNEP Spread (ROIC-NNEP)	0.04%	3.87%	11.13%	0.97%	-4.20%	-46.79%	-78.41%	-105.94%	-11.04%	-19.25%
Return on Net Nonoperating Assets (RNNOA)	-0.24%	-29.89%	-161.09%	9.13%	-5.89%	-20.88%	-9.40%	-20.97%	-4.08%	-11.40%
Return on Equity (ROE)	-0.10%	-17.90%	-153.59%	28.42%	3.34%	-29.69%	12.45%	5.76%	-14.46%	-10.34%
Cash Return on Invested Capital (CROIC)	-10.85%	16.69%	0.39%	70.98%	-27.38%	16.46%	-27.52%	31.36%	-16.97%	0.48%
Operating Return on Assets (OROA)	9.70%	10.99%	8.69%	7.74%	4.71%	-2.10%	6.74%	5.25%	-4.08%	0.50%
Return on Assets (ROA)	0.01%	2.16%	9.27%	1.15%	0.34%	-4.64%	2.67%	1.29%	-2.93%	-2.00%
Return on Common Equity (ROCE)	-0.10%	-17.90%	-153.59%	28.42%	3.34%	-29.53%	12.36%	5.73%	-14.43%	-10.36%
Return on Equity Simple (ROE_SIMPLE)	-0.10%	-20.12%	-647.20%	12.79%	2.33%	-25.19%	10.26%	6.16%	-15.35%	-10.94%
Net Operating Profit after Tax (NOPAT)	5.67	492	312	659	286	-287	826	1,232	-483	51
NOPAT Margin	0.20%	16.22%	9.91%	18.38%	5.40%	-8.02%	14.00%	19.24%	-7.59%	0.77%
Net Nonoperating Expense Percent (NNEP)	0.11%	8.12%	-3.62%	18.32%	13.42%	37.98%	100.27%	132.67%	0.66%	20.30%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	19.33%	-8.10%	0.90%
Cost of Revenue to Revenue	44.80%	57.93%	57.59%	57.08%	55.73%	52.20%	53.31%	56.73%	62.88%	67.11%
SG&A Expenses to Revenue	15.83%	15.24%	16.34%	17.25%	22.40%	31.60%	22.91%	17.35%	24.57%	23.84%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	38.71%	24.17%	28.25%	25.25%	33.48%	59.26%	28.75%	28.06%	47.97%	31.79%
Earnings before Interest and Taxes (EBIT)	474	556	443	627	592	-304	1,062	902	-685	78
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	740	834	718	902	1,014	200	1,429	1,478	-242	520
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	3.06	1.60	5.10	2.16	1.29	1.23	1.06
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.45	0.38	0.91	0.62	0.56	3.75	1.49	0.72	0.62	0.46
Price to Earnings (P/E)	1,872.55	10.54	6.03	23.94	67.49	0.00	20.89	20.74	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.05%	9.49%	16.59%	4.18%	1.48%	0.00%	4.79%	4.82%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.47	1.42	1.68	1.59	1.30	4.79	2.00	1.23	1.16	1.03
Enterprise Value to Revenue (EV/Rev)	2.17	1.88	2.29	1.13	0.90	3.81	1.60	0.86	0.87	0.76
Enterprise Value to EBITDA (EV/EBITDA)	8.32	6.83	10.06	4.48	4.72	68.25	6.60	3.74	0.00	9.61
Enterprise Value to EBIT (EV/EBIT)	12.99	10.25	16.27	6.45	8.08	0.00	8.88	6.13	0.00	64.25
Enterprise Value to NOPAT (EV/NOPAT)	1,085.66	11.57	23.13	6.13	16.70	0.00	11.41	4.49	0.00	98.50
Enterprise Value to Operating Cash Flow (EV/OCF)	14.87	13.96	15.10	11.46	6.79	40.23	10.53	6.30	12.19	13.91
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	8.32	440.87	1.67	0.00	25.41	0.00	3.83	0.00	217.81
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-7.78	-9.07	-65.47	3.30	1.29	0.87	0.67	0.77	0.86	0.97
Long-Term Debt to Equity	-7.57	-8.81	-64.22	3.21	1.25	0.84	0.64	0.76	0.85	0.96
Financial Leverage	-6.74	-7.72	-14.48	9.39	1.40	0.45	0.12	0.20	0.37	0.59
Leverage Ratio	-7.04	-8.28	-16.56	24.61	9.74	6.40	4.67	4.47	4.94	5.17
Compound Leverage Factor	-0.84	-1.80	0.94	3.53	1.42	17.59	2.37	0.87	3.60	-22.68
Debt to Total Capital	114.75%	112.39%	101.55%	76.74%	56.29%	46.55%	40.05%	43.57%	46.36%	49.22%
Short-Term Debt to Total Capital	3.10%	3.24%	1.95%	1.98%	1.48%	1.64%	1.46%	0.88%	0.80%	0.68%
Long-Term Debt to Total Capital	111.65%	109.15%	99.60%	74.76%	54.81%	44.91%	38.59%	42.69%	45.56%	48.54%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.46%	0.38%	0.30%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	-0.02%	-0.01%	-0.01%	-0.02%	-0.04%	-0.08%
Common Equity to Total Capital	-14.75%	-12.39%	-1.55%	23.26%	43.73%	52.96%	59.59%	56.14%	53.68%	50.86%
Debt to EBITDA	7.13	5.91	6.67	2.67	2.35	11.58	1.91	1.88	-11.45	5.33
Net Debt to EBITDA	6.58	5.45	6.08	2.00	1.79	0.96	0.43	0.61	-6.66	3.80
Long-Term Debt to EBITDA	6.94	5.74	6.55	2.60	2.29	11.17	1.85	1.84	-11.25	5.25
Debt to NOPAT	930.54	10.02	15.35	3.66	8.33	-8.05	3.31	2.25	-5.72	54.60
Net Debt to NOPAT	859.08	9.23	13.98	2.74	6.36	-0.67	0.75	0.73	-3.33	38.97
Long-Term Debt to NOPAT	905.38	9.73	15.06	3.56	8.11	-7.77	3.19	2.21	-5.63	53.84
Altman Z-Score	0.50	0.64	0.89	0.52	0.65	0.90	1.04	0.81	0.42	0.51
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	-0.03%	0.52%	0.73%	0.56%	0.23%	-0.11%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.67	0.74	0.76	0.92	0.71	2.42	1.96	1.74	1.11	0.82
Quick Ratio	0.51	0.54	0.64	0.79	0.58	2.27	1.82	1.61	0.93	0.68
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-432	685	16	2,427	-850	536	-1,041	1,445	-790	23
Operating Cash Flow to CapEx	208.28%	516.18%	481.17%	458.18%	370.47%	280.23%	369.37%	339.73%	126.82%	75.06%
Free Cash Flow to Firm to Interest Expense	-0.97	1.49	0.68	115.56	0.00	446.97	0.00	138.96	0.00	76.50
Operating Cash Flow to Interest Expense	0.93	0.89	19.91	16.80	0.00	282.33	0.00	84.44	0.00	1,197.67
Operating Cash Flow Less CapEx to Interest Expense	0.49	0.72	15.77	13.13	0.00	181.58	0.00	59.59	0.00	-398.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.58	0.60	0.62	0.44	0.42	0.25	0.37	0.37	0.38	0.42
Accounts Receivable Turnover	65.40	56.70	50.51	42.31	54.23	38.67	40.53	28.97	22.48	22.85
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	1.00	1.05	1.13	0.75	0.88	0.74	1.30	1.41	1.58	1.82
Accounts Payable Turnover	21.93	32.58	59.30	72.43	83.46	50.83	72.79	77.76	104.32	101.02
Days Sales Outstanding (DSO)	5.58	6.44	7.23	8.63	6.73	9.44	9.01	12.60	16.23	15.97
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	16.64	11.20	6.15	5.04	4.37	7.18	5.01	4.69	3.50	3.61
Cash Conversion Cycle (CCC)	-11.06	-4.77	1.07	3.59	2.36	2.26	3.99	7.91	12.74	12.36
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	4,199	4,007	4,303	2,535	3,671	2,848	4,715	4,502	4,809	4,836
Invested Capital Turnover	0.71	0.74	0.76	1.05	1.71	1.10	1.56	1.39	1.37	1.36
Increase / (Decrease) in Invested Capital	438	-193	296	-1,767	1,136	-824	1,867	-213	307	28
Enterprise Value (EV)	6,155	5,696	7,216	4,042	4,781	13,630	9,432	5,530	5,555	4,999
Market Capitalization	1,285	1,152	2,854	2,238	2,963	13,415	8,789	4,607	3,949	3,025
Book Value per Share	($8.46)	($6.51)	($0.80)	$6.15	$15.98	$16.94	$24.02	$23.07	$21.10	$18.76
Tangible Book Value per Share	($24.71)	($23.57)	($16.51)	($19.81)	($12.46)	($0.25)	($3.68)	($5.48)	($7.32)	($8.06)
Total Capital	4,598	4,386	4,716	3,143	4,237	4,968	6,834	6,374	5,965	5,629
Total Debt	5,276	4,930	4,789	2,412	2,385	2,313	2,737	2,778	2,766	2,771
Total Long-Term Debt	5,133	4,787	4,697	2,350	2,322	2,231	2,637	2,721	2,718	2,733
Net Debt	4,870	4,544	4,362	1,804	1,819	192	618	905	1,609	1,978
Capital Expenditures (CapEx)	199	79	99	77	190	121	243	259	360	479
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-280	-224	-315	-478	-637	-547	-674	-713	-855	-929
Debt-free Net Working Capital (DFNWC)	-43	5.14	-37	1.30	-200	1,306	1,190	911	217	-223
Net Working Capital (NWC)	-185	-137	-129	-61	-263	1,225	1,090	855	169	-261
Net Nonoperating Expense (NNE)	4.98	383	-161	566	243	382	406	1,010	8.26	364
Net Nonoperating Obligations (NNO)	4,878	4,550	4,376	1,804	1,819	192	618	905	1,609	1,978
Total Depreciation and Amortization (D&A)	266	278	274	275	422	503	367	577	443	442
Debt-free, Cash-free Net Working Capital to Revenue	-9.85%	-7.39%	-10.01%	-13.33%	-12.02%	-15.30%	-11.41%	-11.14%	-13.44%	-14.12%
Debt-free Net Working Capital to Revenue	-1.50%	0.17%	-1.18%	0.04%	-3.77%	36.50%	20.15%	14.23%	3.40%	-3.38%
Net Working Capital to Revenue	-6.53%	-4.52%	-4.10%	-1.69%	-4.96%	34.23%	18.47%	13.35%	2.66%	-3.96%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.01	$1.21	$5.21	$0.96	$0.38	($5.00)	$2.64	$1.37	($3.22)	($2.05)
Adjusted Weighted Average Basic Shares Outstanding	80.00M	82.93M	90.85M	97.11M	115.70M	134M	158.70M	161.20M	152.10M	152.10M
Adjusted Diluted Earnings per Share	$0.01	$1.19	$5.07	$0.93	$0.37	($5.00)	$2.48	$1.29	($3.22)	($2.05)
Adjusted Weighted Average Diluted Shares Outstanding	90.90M	91.41M	93.38M	100.34M	117.80M	134M	175.50M	176.60M	152.10M	152.10M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	81.29M	90.89M	91.67M	116.84M	116.86M	156.49M	168.32M	152.59M	152.42M	152.95M
Normalized Net Operating Profit after Tax (NOPAT)	356	492	325	468	373	149	826	765	-392	113
Normalized NOPAT Margin	12.53%	16.22%	10.31%	13.05%	7.03%	4.17%	14.00%	11.94%	-6.16%	1.72%
Pre Tax Income Margin	1.99%	3.98%	-0.80%	2.51%	1.62%	-23.31%	9.13%	2.74%	-7.85%	-5.19%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.07	1.21	18.48	29.86	0.00	-253.00	0.00	86.72	0.00	259.33
NOPAT to Interest Expense	0.01	1.07	13.00	31.40	0.00	-239.28	0.00	118.44	0.00	169.17
EBIT Less CapEx to Interest Expense	0.62	1.04	14.34	26.19	0.00	-353.75	0.00	61.87	0.00	-1,336.33
NOPAT Less CapEx to Interest Expense	-0.44	0.90	8.86	27.74	0.00	-340.03	0.00	93.59	0.00	-1,426.50
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	5.24%	53.48%	57.77%	0.00%	0.00%	271.13%	-30.48%	0.00%

This table displays calculated financial ratios and metrics derived from PENN Entertainment's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	7.49%	0.83%	6.97%	2.94%	-0.34%	-12.00%	-3.97%	-0.70%	1.22%	19.61%
EBITDA Growth	-28.45%	127.11%	-17.36%	-25.88%	-343.56%	-149.77%	-71.33%	-42.38%	126.71%	132.89%
EBIT Growth	-50.48%	28.36%	-21.17%	-25.76%	-715.09%	-229.11%	-111.46%	-64.27%	108.94%	85.26%
NOPAT Growth	-43.06%	-49.36%	-1.17%	48.55%	-675.27%	-324.33%	-109.98%	-63.35%	108.58%	84.40%
Net Income Growth	43.09%	-53.57%	896.90%	199.23%	-688.56%	-1,825.00%	-122.34%	-134.70%	94.83%	62.71%
EPS Growth	38.46%	-45.83%	951.72%	220.00%	-766.67%	-1,600.00%	-124.92%	-137.50%	95.00%	55.38%
Operating Cash Flow Growth	17.93%	0.94%	-34.33%	-16.78%	-32.94%	-171.74%	-146.51%	-14.55%	-19.49%	221.34%
Free Cash Flow Firm Growth	-663.97%	118.46%	58.65%	177.51%	34.61%	-268.87%	195.92%	-90.80%	99.58%	88.24%
Invested Capital Growth	55.91%	-4.53%	18.56%	-61.27%	9.60%	6.82%	-12.69%	-13.87%	1.06%	0.58%
Revenue Q/Q Growth	-0.12%	-2.42%	5.53%	0.09%	-3.31%	-13.83%	15.16%	3.49%	-1.43%	1.82%
EBITDA Q/Q Growth	-36.24%	40.08%	-21.21%	5.33%	-309.51%	71.38%	145.39%	111.68%	-2.89%	-64.75%
EBIT Q/Q Growth	-55.06%	86.16%	-16.80%	6.66%	-472.31%	60.93%	92.62%	432.60%	-6.89%	-164.44%
NOPAT Q/Q Growth	-0.10%	0.57%	55.98%	-5.21%	-486.89%	60.78%	93.06%	448.13%	-9.40%	-171.26%
Net Income Q/Q Growth	372.03%	-83.12%	2,373.08%	-84.82%	-1,028.43%	50.52%	67.98%	76.41%	-38.38%	-256.80%
EPS Q/Q Growth	380.00%	-81.94%	2,246.15%	-84.26%	-1,100.00%	59.38%	61.03%	76.32%	-33.33%	-262.50%
Operating Cash Flow Q/Q Growth	53.00%	-63.47%	24.96%	19.16%	23.30%	-139.08%	18.99%	318.92%	16.16%	-41.10%
Free Cash Flow Firm Q/Q Growth	87.22%	120.75%	-332.37%	1,357.70%	-110.78%	46.40%	231.98%	20.67%	-100.49%	-1,417.78%
Invested Capital Q/Q Growth	-69.54%	1.68%	23.39%	1.36%	-13.81%	-0.90%	0.85%	0.00%	1.12%	-1.37%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	41.10%	42.26%	41.80%	41.58%	40.08%	22.73%	29.63%	34.41%	34.69%	32.74%
EBITDA Margin	17.15%	24.62%	18.38%	19.35%	-41.92%	-13.92%	5.49%	11.23%	11.06%	3.83%
Operating Margin	8.41%	15.32%	11.90%	12.27%	-48.56%	-22.10%	-1.33%	4.48%	4.12%	-2.88%
EBIT Margin	7.87%	15.02%	11.84%	12.62%	-48.58%	-22.03%	-1.41%	4.54%	4.29%	-2.71%
Profit (Net Income) Margin	7.58%	1.31%	30.74%	4.66%	-44.78%	-25.71%	-7.15%	-1.63%	-2.29%	-8.02%
Tax Burden Percent	-209.52%	39.62%	75.39%	69.24%	81.77%	87.96%	90.12%	89.44%	108.07%	89.92%
Interest Burden Percent	-45.97%	22.05%	344.42%	53.38%	112.72%	132.69%	561.67%	-40.13%	-49.36%	328.48%
Effective Tax Rate	0.00%	60.38%	24.61%	30.76%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	10.35%	8.43%	11.41%	5.53%	-48.01%	-21.15%	-1.13%	3.76%	3.73%	-2.75%
ROIC Less NNEP Spread (ROIC-NNEP)	19.85%	-1.48%	45.92%	4.47%	-64.01%	-32.52%	-7.46%	-1.17%	-1.55%	-8.34%
Return on Net Nonoperating Assets (RNNOA)	1.72%	-0.29%	11.93%	6.84%	-19.69%	-12.03%	-3.25%	-0.52%	-0.76%	-4.94%
Return on Equity (ROE)	12.07%	8.14%	23.34%	12.36%	-67.70%	-33.17%	-4.38%	3.25%	2.96%	-7.69%
Cash Return on Invested Capital (CROIC)	-6.94%	31.36%	-1.45%	95.59%	-11.26%	-16.97%	1.30%	0.98%	-3.75%	0.48%
Operating Return on Assets (OROA)	3.02%	5.59%	4.39%	4.74%	-18.89%	-8.35%	-0.54%	1.75%	1.71%	-1.14%
Return on Assets (ROA)	2.91%	0.49%	11.40%	1.75%	-17.41%	-9.75%	-2.76%	-0.63%	-0.91%	-3.37%
Return on Common Equity (ROCE)	11.99%	8.09%	23.25%	12.32%	-67.52%	-33.10%	-4.37%	3.24%	2.97%	-7.70%
Return on Equity Simple (ROE_SIMPLE)	6.79%	0.00%	16.39%	17.49%	-3.21%	0.00%	-36.45%	-40.12%	-17.56%	0.00%
Net Operating Profit after Tax (NOPAT)	96	96	150	142	-550	-216	-15	52	47	-34
NOPAT Margin	5.89%	6.07%	8.97%	8.50%	-33.99%	-15.47%	-0.93%	3.14%	2.88%	-2.02%
Net Nonoperating Expense Percent (NNEP)	-9.49%	9.91%	-34.51%	1.05%	16.00%	11.37%	6.33%	4.93%	5.27%	5.58%
Return On Investment Capital (ROIC_SIMPLE)	-	1.51%	-	-	-	-3.62%	-	-	-	-0.60%
Cost of Revenue to Revenue	58.90%	57.74%	58.20%	58.42%	59.92%	77.27%	70.37%	65.59%	65.31%	67.26%
SG&A Expenses to Revenue	17.10%	16.60%	23.48%	22.71%	25.10%	27.50%	24.20%	23.37%	23.94%	23.86%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	32.69%	26.94%	29.91%	29.31%	88.64%	44.83%	30.97%	29.93%	30.58%	35.62%
Earnings before Interest and Taxes (EBIT)	128	238	198	211	-787	-307	-23	76	70	-45
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	279	390	308	324	-679	-194	88	187	181	64
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.21	1.29	1.09	0.88	1.00	1.23	0.90	0.97	0.94	1.06
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.68	0.72	0.70	0.56	0.53	0.62	0.44	0.47	0.46	0.46
Price to Earnings (P/E)	17.71	20.74	6.61	5.02	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	5.65%	4.82%	15.13%	19.91%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.17	1.23	1.07	0.91	1.00	1.16	0.94	0.98	0.96	1.03
Enterprise Value to Revenue (EV/Rev)	0.81	0.86	0.91	0.78	0.74	0.87	0.72	0.75	0.75	0.76
Enterprise Value to EBITDA (EV/EBITDA)	4.12	3.74	4.18	3.95	14.09	0.00	0.00	0.00	18.01	9.61
Enterprise Value to EBIT (EV/EBIT)	6.11	6.13	6.97	6.62	0.00	0.00	0.00	0.00	0.00	64.25
Enterprise Value to NOPAT (EV/NOPAT)	3.89	4.49	7.44	7.01	0.00	0.00	0.00	0.00	0.00	98.50
Enterprise Value to Operating Cash Flow (EV/OCF)	5.92	6.30	7.39	6.71	7.34	12.19	18.95	22.18	27.49	13.91
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	3.83	0.00	0.53	0.00	0.00	67.12	92.28	0.00	217.81
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.77	0.77	0.67	0.66	0.80	0.86	0.90	0.90	0.90	0.97
Long-Term Debt to Equity	0.76	0.76	0.65	0.65	0.78	0.85	0.88	0.89	0.89	0.96
Financial Leverage	0.09	0.20	0.26	1.53	0.31	0.37	0.44	0.44	0.49	0.59
Leverage Ratio	4.98	4.47	4.32	4.38	4.75	4.94	4.51	4.48	4.84	5.17
Compound Leverage Factor	-2.29	0.99	14.88	2.34	5.35	6.55	25.31	-1.80	-2.39	16.99
Debt to Total Capital	43.52%	43.57%	39.95%	39.77%	44.33%	46.36%	47.38%	47.48%	47.46%	49.22%
Short-Term Debt to Total Capital	0.87%	0.88%	0.81%	0.80%	0.91%	0.80%	0.82%	0.66%	0.66%	0.68%
Long-Term Debt to Total Capital	42.65%	42.69%	39.14%	38.97%	43.43%	45.56%	46.56%	46.83%	46.81%	48.54%
Preferred Equity to Total Capital	0.30%	0.30%	0.17%	0.17%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	-0.02%	-0.02%	-0.02%	-0.02%	-0.03%	-0.04%	-0.05%	-0.05%	-0.07%	-0.08%
Common Equity to Total Capital	56.17%	56.14%	59.90%	60.08%	55.70%	53.68%	52.67%	52.57%	52.60%	50.86%
Debt to EBITDA	2.21	1.88	1.96	2.14	8.08	-11.45	-6.00	-4.61	10.56	5.33
Net Debt to EBITDA	0.64	0.61	0.98	1.09	4.00	-6.66	-3.86	-3.00	7.04	3.80
Long-Term Debt to EBITDA	2.17	1.84	1.92	2.09	7.91	-11.25	-5.90	-4.55	10.41	5.25
Debt to NOPAT	2.09	2.25	3.49	3.80	-28.51	-5.72	-4.34	-3.79	-21.04	54.60
Net Debt to NOPAT	0.61	0.73	1.73	1.94	-14.11	-3.33	-2.79	-2.46	-14.02	38.97
Long-Term Debt to NOPAT	2.04	2.21	3.42	3.72	-27.93	-5.63	-4.26	-3.73	-20.75	53.84
Altman Z-Score	0.65	0.68	0.72	0.70	0.45	0.50	0.49	0.52	0.51	0.49
Noncontrolling Interest Sharing Ratio	0.68%	0.56%	0.38%	0.36%	0.26%	0.23%	0.11%	0.10%	-0.09%	-0.11%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.79	1.74	1.38	1.41	1.42	1.11	1.04	1.03	0.94	0.82
Quick Ratio	1.64	1.61	1.24	1.27	1.25	0.93	0.89	0.87	0.79	0.68
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-1,492	310	-719	9,049	-976	-523	690	833	-4.05	-61
Operating Cash Flow to CapEx	508.01%	160.16%	233.70%	252.87%	289.72%	-55.83%	-165.94%	170.52%	132.55%	46.60%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.38	0.37	0.37	0.38	0.39	0.38	0.39	0.39	0.40	0.42
Accounts Receivable Turnover	41.23	28.97	33.99	28.58	32.08	22.48	23.21	23.21	25.60	22.85
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	1.41	1.41	1.62	1.64	1.64	1.58	1.82	1.81	1.79	1.82
Accounts Payable Turnover	93.59	77.76	81.99	83.79	89.89	104.32	98.88	86.70	78.60	101.02
Days Sales Outstanding (DSO)	8.85	12.60	10.74	12.77	11.38	16.23	15.72	15.72	14.26	15.97
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	3.90	4.69	4.45	4.36	4.06	3.50	3.69	4.21	4.64	3.61
Cash Conversion Cycle (CCC)	4.95	7.91	6.29	8.42	7.32	12.74	12.03	11.51	9.61	12.36
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	4,427	4,502	5,554	5,630	4,852	4,809	4,849	4,849	4,904	4,836
Invested Capital Turnover	1.76	1.39	1.27	0.65	1.41	1.37	1.21	1.20	1.29	1.36
Increase / (Decrease) in Invested Capital	1,588	-213	870	-8,907	425	307	-705	-781	51	28
Enterprise Value (EV)	5,192	5,530	5,916	5,135	4,836	5,555	4,538	4,744	4,717	4,999
Market Capitalization	4,362	4,607	4,526	3,703	3,466	3,949	2,764	2,951	2,878	3,025
Book Value per Share	$22.68	$23.07	$27.29	$27.24	$23.06	$21.10	$20.24	$20.05	$20.08	$18.76
Tangible Book Value per Share	($5.17)	($5.48)	($6.47)	($6.34)	($6.13)	($7.32)	($7.87)	($7.86)	($8.02)	($8.06)
Total Capital	6,402	6,374	6,953	6,988	6,253	5,965	5,838	5,813	5,826	5,629
Total Debt	2,786	2,778	2,778	2,779	2,772	2,766	2,766	2,760	2,765	2,771
Total Long-Term Debt	2,730	2,721	2,721	2,723	2,715	2,718	2,718	2,722	2,727	2,733
Net Debt	811	905	1,379	1,421	1,372	1,609	1,777	1,796	1,843	1,978
Capital Expenditures (CapEx)	64	74	63	70	75	152	41	88	132	221
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-762	-713	-773	-706	-733	-855	-801	-806	-876	-929
Debt-free Net Working Capital (DFNWC)	966	911	539	565	585	217	103	71	-42	-223
Net Working Capital (NWC)	910	855	482	509	528	169	55	33	-80	-261
Net Nonoperating Expense (NNE)	-28	75	-364	64	175	143	100	79	85	100
Net Nonoperating Obligations (NNO)	811	905	1,379	1,421	1,372	1,609	1,777	1,796	1,843	1,978
Total Depreciation and Amortization (D&A)	151	152	110	113	108	113	111	111	111	109
Debt-free, Cash-free Net Working Capital to Revenue	-11.93%	-11.14%	-11.87%	-10.77%	-11.19%	-13.44%	-12.72%	-12.83%	-13.90%	-14.12%
Debt-free Net Working Capital to Revenue	15.12%	14.23%	8.27%	8.62%	8.92%	3.40%	1.63%	1.14%	-0.67%	-3.38%
Net Working Capital to Revenue	14.25%	13.35%	7.41%	7.76%	8.06%	2.66%	0.88%	0.53%	-1.27%	-3.96%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.78	$0.12	$3.35	$0.51	($4.80)	($2.28)	($0.76)	($0.18)	($0.24)	($0.87)
Adjusted Weighted Average Basic Shares Outstanding	157.60M	161.20M	153.30M	152.80M	150.90M	152.10M	151.90M	152.10M	152.20M	152.10M
Adjusted Diluted Earnings per Share	$0.72	$0.13	$3.05	$0.48	($4.80)	($1.95)	($0.76)	($0.18)	($0.24)	($0.87)
Adjusted Weighted Average Diluted Shares Outstanding	173M	176.60M	168.60M	167.90M	150.90M	152.10M	151.90M	152.10M	152.20M	152.10M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	155.12M	152.59M	154.12M	151.04M	151.76M	152.42M	152.45M	152.60M	152.63M	152.95M
Normalized Net Operating Profit after Tax (NOPAT)	169	170	150	142	-550	-216	-15	52	47	-34
Normalized NOPAT Margin	10.39%	10.72%	8.97%	8.50%	-33.99%	-15.47%	-0.93%	3.14%	2.88%	-2.02%
Pre Tax Income Margin	-3.62%	3.31%	40.78%	6.74%	-54.76%	-29.23%	-7.93%	-1.82%	-2.12%	-8.92%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	207.61%	271.13%	69.54%	55.51%	-215.38%	-30.48%	-8.91%	0.00%	0.00%	0.00%

Frequently Asked Questions About PENN Entertainment's Financials

When does PENN Entertainment's financial year end?

According to the most recent income statement we have on file, PENN Entertainment's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has PENN Entertainment's net income changed over the last 9 years?

PENN Entertainment's net income appears to be on an upward trend, with a most recent value of -$313.30 million in 2024, falling from $686 thousand in 2015. The previous period was -$491.40 million in 2023. See where experts think PENN Entertainment is headed by visiting PENN Entertainment's forecast page.

What is PENN Entertainment's operating income?

PENN Entertainment's total operating income in 2024 was $72.50 million, based on the following breakdown:

Total Gross Profit: $2.16 billion
Total Operating Expenses: $2.09 billion

How has PENN Entertainment revenue changed over the last 9 years?

Over the last 9 years, PENN Entertainment's total revenue changed from $2.84 billion in 2015 to $6.58 billion in 2024, a change of 131.8%.

How much debt does PENN Entertainment have?

PENN Entertainment's total liabilities were at $12.40 billion at the end of 2024, a 3.6% decrease from 2023, and a 113.2% increase since 2015.

How much cash does PENN Entertainment have?

In the past 9 years, PENN Entertainment's cash and equivalents has ranged from $229.51 million in 2016 to $1.86 billion in 2021, and is currently $706.60 million as of their latest financial filing in 2024.

How has PENN Entertainment's book value per share changed over the last 9 years?

Over the last 9 years, PENN Entertainment's book value per share changed from -8.46 in 2015 to 18.76 in 2024, a change of -321.8%.

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This page (NASDAQ:PENN) was last updated on 5/5/2025 by MarketBeat.com Staff

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PENN Entertainment (PENN) Financials

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