Caesars Entertainment Corporation (CZR)
Debt-to-assets ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 12,224,000 | 12,659,000 | 13,722,000 | 14,073,000 | 2,325,000 |
| Total assets | US$ in thousands | 33,366,000 | 33,527,000 | 38,031,000 | 36,385,000 | 5,641,000 |
| Debt-to-assets ratio | 0.37 | 0.38 | 0.36 | 0.39 | 0.41 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $12,224,000K ÷ $33,366,000K
= 0.37
Caesars Entertainment Inc's debt-to-assets ratio has shown a fluctuating trend over the past five years. The ratio increased from 0.63 in 2019 to 0.73 in 2020 before declining to 0.69 in 2021. However, there was another increase in 2022 to 0.76 and a subsequent decrease to 0.75 in 2023. This indicates that the company's proportion of debt relative to its total assets has been varying.
A debt-to-assets ratio of 0.75 in 2023 means that 75% of Caesars Entertainment Inc's assets are financed through debt. This suggests that the company relies relatively more on debt financing to support its operations and investments. It is important to note that a higher debt-to-assets ratio indicates higher financial risk and leverage for the company, as it may have higher interest payments and debt obligations to meet, which can impact financial flexibility and profitability.
Further analysis and comparison with industry averages or competitors' ratios would provide better insights into Caesars Entertainment Inc's leverage position and its ability to manage debt effectively.
Peer comparison
Dec 31, 2023