Penn National Gaming Inc (PENN)
Fixed asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 6,362,900 | 6,401,700 | 5,905,000 | 3,578,700 | 5,301,400 |
| Property, plant and equipment | US$ in thousands | 3,514,000 | 4,515,500 | 4,582,200 | 4,529,300 | 5,120,200 |
| Fixed asset turnover | 1.81 | 1.42 | 1.29 | 0.79 | 1.04 |
December 31, 2023 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $6,362,900K ÷ $3,514,000K
= 1.81
Fixed asset turnover measures how efficiently a company generates revenue from its investment in fixed assets. PENN Entertainment Inc's fixed asset turnover has been fluctuating over the past five years, ranging from 0.79 to 1.81. The trend indicates an improvement in the company's ability to generate revenue from its fixed assets, with a significant increase from 2020 to 2023. This suggests that PENN Entertainment Inc has been utilizing its fixed assets more efficiently in recent years to generate sales. However, it is essential to further investigate the reasons behind these fluctuations to evaluate the effectiveness of the company's asset management strategies.
Peer comparison
Dec 31, 2023