PENN · Penn 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 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | - | - | $6.36B | $6.40B | $5.91B | $3.58B |
| Cost of Revenue | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - |
| SG&A | $1.63B | $1.57B | $1.56B | $1.11B | $1.35B | $1.13B |
| Total Operating Expenses | $7.63B | $6.51B | $7.05B | $5.43B | $4.85B | $3.99B |
| D&A | $446.90M | $433.60M | $435.10M | $567.50M | $344.50M | $366.70M |
| Operating Income | ($673.60M) | $72.50M | ($690.20M) | $974.00M | $1.06B | ($410.20M) |
| Interest Expense | $487.10M | $487.10M | $469.60M | $760.10M | $566.90M | $546.30M |
| Income Tax | $24.60M | ($28.00M) | ($8.20M) | ($46.40M) | $118.60M | ($165.10M) |
| Net Income | ($843.10M) | ($311.50M) | ($490.00M) | $222.10M | $420.80M | ($669.50M) |
| EPS - Basic | ($5.83) | ($2.05) | ($3.22) | $1.37 | $2.64 | ($5.00) |
| EPS - Diluted | ($5.83) | ($2.05) | ($3.22) | $1.29 | $2.48 | ($5.00) |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $686.60M | $706.60M | $1.07B | $1.62B | $1.86B | $1.85B |
| Accounts Receivable | $254.20M | $256.80M | $319.00M | $246.40M | $195.00M | $96.40M |
| Inventory | - | - | - | - | - | - |
| Accounts Payable | $54.20M | $50.80M | $36.60M | $40.10M | $53.30M | $33.20M |
| Current Assets | $1.17B | $1.15B | $1.66B | $2.01B | $2.22B | $2.08B |
| Total Assets | $14.27B | $15.26B | $16.06B | $17.50B | $16.87B | $14.67B |
| Current Liabilities | $1.48B | $1.42B | $1.49B | $1.16B | $1.13B | $860.00M |
| Long-term Debt | $2.85B | $2.73B | $2.72B | $2.72B | $2.64B | $2.23B |
| Total Liabilities | $12.44B | $12.40B | $12.86B | $13.91B | $12.78B | $12.01B |
| Stockholders' Equity | $1.83B | $2.86B | $3.20B | $3.60B | $4.10B | $2.66B |
| Retained Earnings | ($1.49B) | ($647.00M) | ($335.50M) | $154.50M | ($86.50M) | ($507.30M) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $508.20M | $359.30M | $455.90M | $878.20M | $896.10M | $338.80M |
| Investing Cash Flow | ($351.10M) | ($541.20M) | ($742.60M) | ($258.60M) | ($1.22B) | ($233.70M) |
| Financing Cash Flow | ($165.60M) | ($186.50M) | ($262.60M) | ($853.00M) | $339.90M | $1.31B |
| CapEx | - | - | - | $263.40M | $244.10M | $137.00M |
| Free Cash Flow | - | - | - | $614.80M | $652.00M | $201.80M |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | - | - | - | - | - | - |
| Operating margin | - | - | -10.8% | 15.2% | 17.9% | -11.5% |
| EBITDA margin | - | - | -4.0% | 24.1% | 23.8% | -1.2% |
| Net margin | - | - | -7.7% | 3.5% | 7.1% | -18.7% |
| Free cash flow margin | - | - | - | 9.6% | 11.0% | 5.6% |
| FCF / Net income | - | - | - | 2.77 | 1.55 | -0.30 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | - | - | 24.6% | 17.3% | 22.9% | 31.6% |
| Effective tax rate | - | - | - | -26.4% | 22.0% | - |
| Return on assets | -5.9% | -2.0% | -3.1% | 1.3% | 2.5% | -4.6% |
| Return on equity | -46.0% | -10.9% | -15.3% | 6.2% | 10.3% | -25.2% |
| Return on invested capital | -11.4% | 1.0% | -9.2% | 15.4% | 12.3% | -6.6% |
| Liquidity | ||||||
| Current ratio | 0.79 | 0.82 | 1.11 | 1.74 | 1.96 | 2.42 |
| Quick ratio | 0.79 | 0.82 | 1.11 | 1.74 | 1.96 | 2.42 |
| Cash ratio | 0.47 | 0.50 | 0.72 | 1.40 | 1.64 | 2.16 |
| Leverage | ||||||
| Debt / Equity | 1.55 | 0.95 | 0.85 | 0.76 | 0.64 | 0.84 |
| Debt / Assets | 0.20 | 0.18 | 0.17 | 0.16 | 0.16 | 0.15 |
| Debt / EBITDA | - | 5.40 | - | 1.77 | 1.88 | - |
| Interest coverage | -1.4x | 0.1x | -1.5x | 1.3x | 1.9x | -0.8x |
| Equity multiplier | 7.78 | 5.33 | 5.02 | 4.86 | 4.12 | 5.52 |
| Liabilities / Assets | 0.87 | 0.81 | 0.80 | 0.79 | 0.76 | 0.82 |
| Efficiency | ||||||
| Asset turnover | - | - | 0.40 | 0.37 | 0.35 | 0.24 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | - | - | 18d | 14d | 12d | 10d |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | - | - | - | 23.0x | 20.9x | - |
| P / B | 1.2x | 1.1x | 1.2x | 1.5x | 2.2x | 4.4x |
| P / S | - | - | 0.6x | 0.8x | 1.5x | 3.2x |
| EV / EBITDA | - | 10.0x | - | 4.1x | 7.0x | - |
| Growth | ||||||
| Revenue growth (YoY) | - | - | -0.6% | 8.4% | 65.0% | -32.5% |
| Revenue CAGR (3y) | - | - | 21.1% | 6.5% | 18.1% | 4.4% |
| Revenue CAGR (5y) | - | - | 12.1% | 15.3% | 14.2% | 4.7% |
| Gross profit growth (YoY) | - | - | - | - | - | - |
| Operating income growth (YoY) | - | - | - | -8.1% | - | - |
| Net income growth (YoY) | -170.7% | 36.4% | - | -47.2% | - | - |
| EPS growth (YoY) | -184.4% | 36.3% | - | -48.0% | - | - |
| EPS CAGR (3y) | - | - | - | 51.6% | 38.7% | - |
| EPS CAGR (5y) | - | - | - | -23.9% | 15.8% | - |
| FCF growth (YoY) | - | - | - | -5.7% | 223.1% | -60.7% |
| FCF CAGR (5y) | - | - | - | 9.7% | 11.0% | -5.1% |
| Book value growth (YoY) | -35.9% | -10.6% | -11.0% | -12.2% | 54.3% | 43.4% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2023-12-31.
Business segments
$6.37B totalNortheast Segment$2.74B · 43.0%
South Segment$1.22B · 19.1%
Midwest Segment$1.17B · 18.4%
Interactive Segment$718.80M · 11.3%
West Segment$528.50M · 8.3%
Product / service
$6.79B totalCasino$4.91B · 72.3%
Food Beverage Hotel And Other$1.46B · 21.5%
Food And Beverage$144.00M · 2.1%
Advertising$105.80M · 1.6%
Product And Service Other$87.70M · 1.3%
Occupancy$55.30M · 0.8%
Retail$29.80M · 0.4%
Stability scores
Piotroski F-score
FY 2025 · 9-point quality
3/9
Weak
- ✗Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- ✗Long-term debt decreased
- ✗Current ratio improved
- ✓No share dilution
- -Gross margin improved
- -Asset turnover improved
Peer comparison
Same SIC group: Hotels & Motels
Comparing PENN Entertainment against the 5 most active filers in the same SIC group.