Penn National Gaming Inc (PENN)

Return on assets (ROA)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	US$ in thousands	-490,000	222,100	420,800	-669,500	43,900
Total assets	US$ in thousands	16,064,200	17,502,100	16,872,100	14,667,300	14,194,500
ROA		-3.05%	1.27%	2.49%	-4.56%	0.31%

December 31, 2023 calculation

ROA = Net income ÷ Total assets
= $-490,000K ÷ $16,064,200K
= -3.05%

The return on assets (ROA) for PENN Entertainment Inc has shown fluctuations over the past five years. In 2023, the ROA was -3.05%, indicating a negative return on assets, which may suggest inefficiency in utilizing the company's assets to generate profit. This represents a significant decline from the positive ROA of 1.27% in 2022 and 2.49% in 2021.

The negative ROA in 2020 at -4.56% signifies that the company incurred a loss in relation to its assets during that period. However, there was a slight improvement in 2019 with an ROA of 0.31%.

Overall, the trend in ROA for PENN Entertainment Inc highlights variability in its ability to generate profit relative to its asset base, suggesting the need for further analysis to understand the underlying reasons for these fluctuations.