Penn National Gaming Inc (PENN)

Pretax margin

Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Earnings before tax but after interest (EBT) US$ in thousands -498,200 175,700 539,400 -834,600 86,900
Revenue US$ in thousands 6,362,900 6,401,700 5,905,000 3,578,700 5,301,400
Pretax margin -7.83% 2.74% 9.13% -23.32% 1.64%

December 31, 2023 calculation

Pretax margin = EBT ÷ Revenue
= $-498,200K ÷ $6,362,900K
= -7.83%

The pretax margin of PENN Entertainment Inc has fluctuated over the past five years. In 2023, the company reported a pretax margin of -7.85%, indicating that for every dollar of revenue generated, the company incurred a loss before accounting for income taxes. This was a significant decrease from the previous year's pretax margin of 2.74%. In 2021, the company experienced a higher pretax margin of 9.13%, reflecting improved profitability compared to the prior years. However, in 2020, the pretax margin was negative at -23.31%, indicating substantial losses. The pretax margin was positive but relatively low in 2019 at 1.62%. Overall, the company's pretax margin has been volatile, with a mix of profitable and loss-making years, suggesting varying operational efficiency and cost management strategies.


Peer comparison

Dec 31, 2023