Penn National Gaming Inc (PENN)
Operating profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Operating income | US$ in thousands | -690,200 | 974,000 | 1,059,600 | -410,200 | 571,900 |
| Revenue | US$ in thousands | 6,362,900 | 6,401,700 | 5,905,000 | 3,578,700 | 5,301,400 |
| Operating profit margin | -10.85% | 15.21% | 17.94% | -11.46% | 10.79% |
December 31, 2023 calculation
Operating profit margin = Operating income ÷ Revenue
= $-690,200K ÷ $6,362,900K
= -10.85%
PENN Entertainment Inc's operating profit margin has shown some fluctuations over the past five years. In 2023, the operating profit margin decreased to 5.71% from 17.06% in 2022, which was a significant drop. However, in 2021, the margin was also relatively high at 17.94%.
The downward trend observed in 2023 could be a cause for concern as it dropped back to a level close to that of 2020, signaling potential challenges in managing operating expenses efficiently or generating sufficient revenue to cover costs. It is important for the company to closely monitor and potentially address the factors contributing to this decline to sustain profitability in the future.
Peer comparison
Dec 31, 2023