Penn National Gaming Inc (PENN)

Total asset turnover

		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	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Revenue (ttm)	US$ in thousands	6,362,900	6,553,100	6,558,700	6,510,800	6,401,700	6,388,600	6,275,400	6,194,300	5,905,000	5,359,900	4,977,800	3,737,500	3,578,700	3,892,500	4,117,300	5,134,900	5,301,400	5,115,500	4,550,700	4,054,500
Total assets	US$ in thousands	16,064,200	16,168,600	17,028,000	17,040,000	17,502,100	17,535,100	17,880,800	18,071,100	16,872,100	15,748,700	15,078,200	14,888,200	14,667,300	14,812,000	14,321,500	13,938,400	14,194,500	14,318,000	14,321,500	13,498,200
Total asset turnover		0.40	0.41	0.39	0.38	0.37	0.36	0.35	0.34	0.35	0.34	0.33	0.25	0.24	0.26	0.29	0.37	0.37	0.36	0.32	0.30

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $6,362,900K ÷ $16,064,200K
= 0.40

The total asset turnover of PENN Entertainment Inc has been fluctuating over the past eight quarters. It ranged from a low of 0.34 in Q1 2022 to a high of 0.41 in Q3 2023. Overall, the total asset turnover has shown a slight upward trend, improving from 0.34 in Q1 2022 to 0.41 in Q3 2023.

Total asset turnover indicates how efficiently the company is using its assets to generate revenue. A higher total asset turnover ratio suggests that the company is generating more revenue per dollar of assets. In the case of PENN Entertainment Inc, the increasing trend in total asset turnover implies that the company has been able to generate more revenue relative to its total assets over the quarters analyzed.

It is essential for investors and stakeholders to monitor the total asset turnover ratio as it reflects the company's operational efficiency and effectiveness in generating sales with its asset base. The management of PENN Entertainment Inc should continue to focus on optimizing its asset utilization to further improve its total asset turnover ratio and enhance overall business performance.