Caesars Entertainment Corporation (CZR)
Pretax margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) | US$ in thousands | -102,000 | -940,000 | -1,302,000 | -1,625,000 | 125,000 |
| Revenue | US$ in thousands | 9,002,000 | 8,497,000 | 7,105,000 | 2,245,000 | 2,284,080 |
| Pretax margin | -1.13% | -11.06% | -18.33% | -72.38% | 5.47% |
December 31, 2023 calculation
Pretax margin = EBT ÷ Revenue
= $-102,000K ÷ $9,002,000K
= -1.13%
Caesars Entertainment Inc's pretax margin has exhibited fluctuations over the past five years. In 2019, the company had a pretax margin of 4.94%, indicating a positive profitability before taxes. However, this trend reversed in 2020, with a significant decline to -46.98%, reflecting a substantial decrease in profitability. The following year, in 2021, the pretax margin deteriorated further to -13.26%, suggesting continued financial challenges.
The negative trend continued into 2022, with a pretax margin of -5.22%, although showing some improvement compared to the previous year. In 2023, there was a slight recovery, but the pretax margin remained negative at -0.52%.
Overall, Caesars Entertainment Inc's pretax margin has been volatile, with significant fluctuations in profitability over the past five years. The recent improvements indicate efforts to enhance profitability, but the company still faces challenges in achieving consistent positive margins. Investors and stakeholders should closely monitor future financial performance to assess the company's ability to sustain profitability effectively.
Peer comparison
Dec 31, 2023