CZR · Caesars Entertainment, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.87B | - | $2.87B | $2.91B | $2.79B | - | $2.87B | $2.83B | $2.74B | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $504.00M | - | $483.00M | $477.00M | $483.00M | - | $478.00M | $465.00M | $500.00M | - |
| Total Operating Expenses | $2.37B | - | $2.36B | $2.38B | $2.31B | - | $2.23B | $2.32B | $2.26B | - |
| D&A | $347.00M | - | $352.00M | $364.00M | $357.00M | - | $326.00M | $326.00M | $327.00M | - |
| Operating Income | $500.00M | - | $513.00M | $526.00M | $488.00M | - | $644.00M | $506.00M | $485.00M | - |
| Interest Expense | $572.00M | - | $582.00M | $587.00M | $607.00M | - | $597.00M | $614.00M | $607.00M | - |
| Income Tax | $12.00M | - | ($25.00M) | $13.00M | $11.00M | - | $43.00M | $10.00M | $15.00M | - |
| Net Income | ($98.00M) | - | ($55.00M) | ($82.00M) | ($115.00M) | - | ($9.00M) | ($122.00M) | ($158.00M) | - |
| EPS - Basic | ($0.48) | - | ($0.27) | ($0.39) | ($0.54) | - | ($0.04) | ($0.56) | ($0.73) | - |
| EPS - Diluted | ($0.48) | - | ($0.27) | ($0.39) | ($0.54) | - | ($0.04) | ($0.56) | ($0.73) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $867.00M | $887.00M | $836.00M | $982.00M | $884.00M | $866.00M | $802.00M | $830.00M | $726.00M | $1.00B |
| Accounts Receivable | $441.00M | $476.00M | $426.00M | $487.00M | $440.00M | $470.00M | $469.00M | $546.00M | $551.00M | $608.00M |
| Inventory | $47.00M | $43.00M | $41.00M | $44.00M | $43.00M | $45.00M | $43.00M | $45.00M | $44.00M | $46.00M |
| Accounts Payable | $258.00M | $297.00M | $253.00M | $263.00M | $246.00M | $296.00M | $268.00M | $436.00M | $439.00M | $408.00M |
| Current Assets | $1.80B | $1.80B | $1.73B | $1.93B | $1.79B | $1.75B | $1.90B | $1.82B | $1.74B | $2.04B |
| Total Assets | $31.66B | $31.64B | $31.90B | $32.48B | $32.40B | $32.59B | $32.97B | $33.08B | $33.06B | $33.37B |
| Current Liabilities | $2.12B | $2.25B | $2.23B | $2.34B | $2.14B | $2.27B | $2.27B | $2.61B | $2.54B | $2.69B |
| Long-term Debt | $11.69B | $11.67B | $11.68B | $12.02B | $12.05B | $12.03B | $12.43B | $12.16B | $12.17B | $12.22B |
| Total Liabilities | $28.07B | $27.95B | $27.93B | $28.36B | $28.12B | $28.21B | $28.59B | $28.59B | $28.47B | $28.65B |
| Stockholders' Equity | $3.42B | $3.50B | $3.78B | $3.90B | $4.05B | $4.16B | $4.18B | $4.30B | $4.40B | $4.55B |
| Retained Earnings | - | ($3.30B) | - | - | - | ($2.80B) | - | - | - | ($2.52B) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $204.00M | - | - | - | $218.00M | - | - | - | $80.00M | - |
| Investing Cash Flow | ($189.00M) | - | - | - | ($206.00M) | - | - | - | ($264.00M) | - |
| Financing Cash Flow | ($25.00M) | - | - | - | ($19.00M) | - | - | - | ($94.00M) | - |
| CapEx | $168.00M | - | - | - | $223.00M | - | - | - | $264.00M | - |
| Free Cash Flow | $36.00M | - | - | - | ($5.00M) | - | - | - | ($184.00M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | 17.4% | - | 17.9% | 18.1% | 17.5% | - | 22.4% | 17.9% | 17.7% | - |
| EBITDA margin | 29.5% | - | 30.1% | 30.6% | 30.2% | - | 33.8% | 29.4% | 29.6% | - |
| Net margin | -3.4% | - | -1.9% | -2.8% | -4.1% | - | -0.3% | -4.3% | -5.8% | - |
| Free cash flow margin | 1.3% | - | - | - | -0.2% | - | - | - | -6.7% | - |
| FCF / Net income | -0.37 | - | - | - | 0.04 | - | - | - | 1.16 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 17.6% | - | 16.8% | 16.4% | 17.3% | - | 16.6% | 16.4% | 18.2% | - |
| Effective tax rate | - | - | - | - | - | - | 126.5% | - | - | - |
| Return on assets | -0.3% | - | -0.2% | -0.3% | -0.4% | - | -0.0% | -0.4% | -0.5% | - |
| Return on equity | -2.9% | - | -1.5% | -2.1% | -2.8% | - | -0.2% | -2.8% | -3.6% | - |
| Return on invested capital | 2.6% | - | 2.6% | 2.6% | 2.4% | - | 1.9% | 2.4% | 2.3% | - |
| Liquidity | ||||||||||
| Current ratio | 0.85 | 0.80 | 0.78 | 0.82 | 0.84 | 0.77 | 0.84 | 0.70 | 0.69 | 0.76 |
| Quick ratio | 0.83 | 0.78 | 0.76 | 0.81 | 0.82 | 0.75 | 0.82 | 0.68 | 0.67 | 0.74 |
| Cash ratio | 0.41 | 0.39 | 0.38 | 0.42 | 0.41 | 0.38 | 0.35 | 0.32 | 0.29 | 0.37 |
| Leverage | ||||||||||
| Debt / Equity | 3.42 | 3.33 | 3.09 | 3.09 | 2.97 | 2.89 | 2.98 | 2.83 | 2.76 | 2.69 |
| Debt / Assets | 0.37 | 0.37 | 0.37 | 0.37 | 0.37 | 0.37 | 0.38 | 0.37 | 0.37 | 0.37 |
| Debt / EBITDA | 13.80 | - | 13.50 | 13.51 | 14.26 | - | 12.82 | 14.62 | 14.99 | - |
| Interest coverage | 0.9x | - | 0.9x | 0.9x | 0.8x | - | 1.1x | 0.8x | 0.8x | - |
| Equity multiplier | 9.27 | 9.03 | 8.43 | 8.34 | 7.99 | 7.84 | 7.89 | 7.69 | 7.51 | 7.33 |
| Liabilities / Assets | 0.89 | 0.88 | 0.88 | 0.87 | 0.87 | 0.87 | 0.87 | 0.86 | 0.86 | 0.86 |
| Efficiency | ||||||||||
| Asset turnover | 0.09 | - | 0.09 | 0.09 | 0.09 | - | 0.09 | 0.09 | 0.08 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 56d | - | 54d | 61d | 57d | - | 60d | 70d | 73d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | 1.6x | - | 1.5x | 1.5x | 1.3x | - | 2.1x | 2.0x | 2.1x | - |
| P / S | 1.9x | - | 1.9x | 2.0x | 1.9x | - | 3.1x | 3.0x | 3.4x | - |
| EV / EBITDA | 19.1x | - | 19.0x | 19.1x | 19.5x | - | 21.2x | 23.9x | 25.7x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 2.7% | - | -0.2% | 2.7% | 1.9% | - | -4.0% | -1.7% | -3.1% | - |
| Revenue CAGR (3y) | 0.5% | - | -0.2% | 1.0% | 6.8% | - | 2.3% | 4.2% | 17.3% | - |
| Revenue CAGR (5y) | 11.1% | - | 15.8% | 87.2% | 42.6% | - | 34.1% | 34.7% | 34.0% | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | 2.5% | - | -20.3% | 4.0% | 0.6% | - | -11.0% | -16.9% | -19.6% | - |
| Net income growth (YoY) | 14.8% | - | -511.1% | 32.8% | 27.2% | - | - | - | -16.2% | - |
| EPS growth (YoY) | 11.1% | - | -575.0% | 30.4% | 26.0% | - | - | - | -15.9% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | 97.3% | - | - | - | -87.8% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -15.7% | -15.7% | -9.5% | -9.5% | -8.0% | -8.7% | -9.3% | -5.3% | 22.4% | 22.6% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$11.49B totalRegional$5.76B · 50.1%
Las Vegas$4.05B · 35.2%
Caesars Digital$1.41B · 12.3%
Managed And Branded$279.00M · 2.4%
Product / service
$12.91B totalCasino$6.62B · 51.2%
Hotel Owned$1.95B · 15.1%
Food And Beverage$1.71B · 13.3%
Complimentaries And Loyalty Point Redemptions$1.30B · 10.1%
Product And Service Other$1.21B · 9.4%
Real Estate$128.00M · 1.0%
Peer comparison
Same SIC group: Hotels & Motels
Comparing Caesars Entertainment against the 5 most active filers in the same SIC group.