Caesars Entertainment Corporation (CZR)
Pretax margin
| Dec 31, 2024 | Sep 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | -135,000 | -44,000 | -60,000 | -102,000 | -188,000 | -249,000 | -338,000 | -940,000 | -1,348,000 | -1,731,000 | -1,590,000 | -1,302,000 | -1,242,000 | -1,707,000 | -1,911,000 | -1,625,000 | -1,143,219 | -300,219 | -136,865 | 124,769 |
| Revenue (ttm) | US$ in thousands | 10,022,000 | 9,652,000 | 9,059,000 | 9,002,000 | 8,914,000 | 8,808,000 | 8,788,000 | 8,497,000 | 8,297,000 | 8,000,000 | 7,631,000 | 7,022,000 | 6,554,000 | 6,226,000 | 4,375,334 | 3,638,781 | 2,733,905 | 1,646,701 | 2,153,324 | 2,331,508 |
| Pretax margin | -1.35% | -0.46% | -0.66% | -1.13% | -2.11% | -2.83% | -3.85% | -11.06% | -16.25% | -21.64% | -20.84% | -18.54% | -18.95% | -27.42% | -43.68% | -44.66% | -41.82% | -18.23% | -6.36% | 5.35% |
December 31, 2024 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $-135,000K ÷ $10,022,000K
= -1.35%
Caesars Entertainment Corporation's pretax margin has exhibited volatile fluctuations over the period under consideration. The company experienced a positive pretax margin of 5.35% as of December 31, 2019, indicating a reasonable level of profitability before taxes. However, this trend reversed in the subsequent quarters, with margins turning negative and steadily declining into deep negatives by December 31, 2020.
Throughout 2021 and into 2022, Caesars continued to report negative pretax margins, indicating ongoing financial challenges. The pretax margin improved slightly by the end of 2024, but remained negative at -1.35%. The consistent negative pretax margins suggest that the company may be facing operational inefficiencies, cost pressures, or other factors impacting its profitability.
It would be prudent for stakeholders to closely monitor Caesars Entertainment Corporation's financial performance and assess the effectiveness of any strategies implemented to improve its pretax margin in order to enhance long-term sustainability and profitability.
Peer comparison
Dec 31, 2024