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