Penn National Gaming Inc (PENN)
Gross profit margin
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit (ttm) | US$ in thousands | 3,961,700 | 4,454,700 | 4,402,300 | 4,409,900 | 4,479,200 | 4,405,900 | 4,420,800 | 4,383,900 | 4,116,100 | 3,689,400 | 3,349,800 | 2,211,900 | 1,441,900 | 1,989,500 | 2,217,500 | 3,138,106 | 3,932,296 | 3,882,666 | 3,545,194 | 3,244,972 |
| 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 |
| Gross profit margin | 62.26% | 67.98% | 67.12% | 67.73% | 69.97% | 68.97% | 70.45% | 70.77% | 69.71% | 68.83% | 67.29% | 59.18% | 40.29% | 51.11% | 53.86% | 61.11% | 74.17% | 75.90% | 77.90% | 80.03% |
December 31, 2023 calculation
Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $3,961,700K ÷ $6,362,900K
= 62.26%
The gross profit margin of PENN Entertainment Inc has shown a decreasing trend over the past eight quarters, starting at 45.83% in Q1 2022 and declining to 37.12% in Q4 2023. This suggests that the company's profitability in terms of gross profit generated from its revenue has weakened over this period. Factors contributing to this trend may include increasing costs of goods sold, pricing pressures, or changes in product mix. Management should closely monitor and address the factors influencing the gross profit margin to ensure sustainable profitability in the future.
Peer comparison
Dec 31, 2023