Penn National Gaming Inc (PENN)

Return on equity (ROE)

		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
Net income (ttm)	US$ in thousands	-490,000	-111,100	737,200	684,900	222,100	246,300	208,900	381,500	420,800	386,900	442,700	30,100	-669,500	-773,100	-871,100	-605,600	44,000	94,500	86,700	89,088
Total stockholders’ equity	US$ in thousands	3,202,100	3,482,600	4,210,300	4,176,300	3,597,700	3,617,100	3,766,800	3,953,500	4,097,800	3,071,900	2,958,300	2,756,300	2,656,200	2,633,700	1,506,200	1,278,400	1,852,700	1,939,800	1,891,910	1,861,820
ROE		-15.30%	-3.19%	17.51%	16.40%	6.17%	6.81%	5.55%	9.65%	10.27%	12.59%	14.96%	1.09%	-25.21%	-29.35%	-57.83%	-47.37%	2.37%	4.87%	4.58%	4.78%

December 31, 2023 calculation

ROE = Net income (ttm) ÷ Total stockholders’ equity
= $-490,000K ÷ $3,202,100K
= -15.30%

To analyze PENN Entertainment Inc's return on equity (ROE) based on the provided data, we observe fluctuations over the past eight quarters.

The company's ROE has shown variability, ranging from -15.30% in Q4 2023 to a high of 17.51% in Q2 2023. Overall, the ROE trend is mixed, with no clear pattern evident. However, there was a significant drop from Q2 2023 to Q3 2023, indicating a potential decrease in profitability and efficiency in generating returns for shareholders during that quarter.

It is essential to consider the factors contributing to these fluctuations, such as changes in net income, total equity, or financial leverage. Further analysis of the company's operating performance and financial structure can provide insights into the drivers behind the ROE changes and help evaluate the sustainability and underlying reasons for these variations.