Penn National Gaming Inc (PENN)

Gross profit margin

		Dec 31, 2024	Sep 30, 2024	Jun 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
Gross profit (ttm)	US$ in thousands	2,190,200	1,849,800	1,685,700	1,918,900	2,250,900	2,714,900	2,733,800	2,763,900	2,770,100	2,757,500	2,788,900	2,838,700	2,757,000	2,620,000	2,522,200	1,876,500	1,710,700	1,776,600	1,770,900	2,231,668
Revenue (ttm)	US$ in thousands	6,578,100	6,304,500	6,284,700	6,296,500	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	5,134,890
Gross profit margin		33.30%	29.34%	26.82%	30.48%	35.38%	41.43%	41.68%	42.45%	43.27%	43.16%	44.44%	45.83%	46.69%	48.88%	50.67%	50.21%	47.80%	45.64%	43.01%	43.46%

December 31, 2024 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $2,190,200K ÷ $6,578,100K
= 33.30%

The gross profit margin of Penn National Gaming Inc has exhibited fluctuations over the reported periods. Starting at 43.46% on March 31, 2020, the margin decreased slightly to 41.43% by September 30, 2023. This was followed by a significant drop to 35.38% by December 31, 2023. Subsequently, the margin declined further to its lowest point of 30.48% on March 31, 2024, before hitting a trough of 26.82% by June 30, 2024.

During the latter part of 2024, there was a moderate recovery in the gross profit margin, climbing to 33.30% by December 31, 2024. Overall, the margin has experienced a downward trend throughout the later reporting periods, indicating potential challenges in maintaining profitability levels for the company.

It is essential for stakeholders to closely monitor the company's gross profit margin, as it serves as a key indicator of operational efficiency and pricing strategies, reflecting the ability of Penn National Gaming Inc to generate profits after accounting for the costs directly associated with producing its goods or services.