Penn National Gaming Inc (PENN)

Operating 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
Operating income (ttm)	US$ in thousands	-690,200	-138,900	784,200	881,100	974,000	957,200	1,059,600	1,135,100	1,059,600	953,100	910,200	366,900	-410,200	-518,500	-534,900	-171,100	571,900	685,000	661,000	644,400
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
Operating profit margin		-10.85%	-2.12%	11.96%	13.53%	15.21%	14.98%	16.88%	18.32%	17.94%	17.78%	18.29%	9.82%	-11.46%	-13.32%	-12.99%	-3.33%	10.79%	13.39%	14.53%	15.89%

December 31, 2023 calculation

Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $-690,200K ÷ $6,362,900K
= -10.85%

The operating profit margin of PENN Entertainment Inc has shown a declining trend over the past eight quarters, from 18.32% in Q1 2022 to 5.71% in Q4 2023. This indicates that the company's ability to generate profits from its core operations has weakened over time. Factors such as increasing operating expenses or declining revenues could be contributing to this downward trend. It is important for management to closely monitor and address the underlying reasons for this decline to improve the company's profitability and long-term sustainability.