Penn National Gaming Inc (PENN)
Pretax margin
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) | US$ in thousands | -341,300 | -499,600 | 175,300 | 539,100 | -834,200 |
| Revenue | US$ in thousands | 6,578,100 | 6,362,900 | 6,401,700 | 5,905,000 | 3,578,700 |
| Pretax margin | -5.19% | -7.85% | 2.74% | 9.13% | -23.31% |
December 31, 2024 calculation
Pretax margin = EBT ÷ Revenue
= $-341,300K ÷ $6,578,100K
= -5.19%
The pretax margin of Penn National Gaming Inc has shown fluctuating trends over the past few years. In 2020, the company had a negative pretax margin of -23.31%, indicating that the company's expenses exceeded its revenues before accounting for taxes. However, there was a significant improvement in 2021, with the pretax margin rising to 9.13%, reflecting a more profitable operating performance.
Subsequently, in 2022 and 2023, the pretax margin decreased to 2.74% and -7.85%, respectively, suggesting a decline in profitability. The negative pretax margin in 2023 indicates that the company's expenses continued to outpace its revenues before considering taxes.
By 2024, there was a slight improvement as the pretax margin increased to -5.19%, but it remained in negative territory. Overall, the trend in the pretax margin of Penn National Gaming Inc indicates some volatility in the company's profitability levels, with periods of improvement balanced by declines in profitability.
Peer comparison
Dec 31, 2024