Penn National Gaming Inc (PENN)

Return on total capital

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
Earnings before interest and tax (EBIT) (ttm) US$ in thousands -28,600 515,700 1,423,600 1,471,200 935,900 877,900 1,005,900 1,119,000 1,106,300 1,062,800 1,065,100 537,600 -288,300 -411,800 -485,000 -143,300 622,800 698,600 660,900 640,903
Long-term debt US$ in thousands 2,718,000 2,715,400 2,722,800 2,721,400 2,721,300 2,730,200 2,730,400 2,694,300 2,637,300 2,654,400 2,269,900 2,289,500 2,231,200 2,355,700 3,044,800 2,829,300 2,322,200 2,392,000 2,489,610 2,311,380
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
Return on total capital -0.48% 8.32% 20.53% 21.33% 14.81% 13.83% 15.48% 16.83% 16.43% 18.56% 20.37% 10.65% -5.90% -8.25% -10.66% -3.49% 14.92% 16.13% 15.08% 15.36%

December 31, 2023 calculation

Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $-28,600K ÷ ($2,718,000K + $3,202,100K)
= -0.48%

PENN Entertainment Inc's return on total capital has shown some fluctuations over the past eight quarters. In Q1 2022, the return on total capital was particularly high at 10.83%, but it decreased in the subsequent quarters before reaching its lowest point in Q4 2022 at 7.22%. The return then slightly increased in Q1 2023, but it remained below the levels seen in Q2 and Q3 of 2023. The latest data from Q4 2023 indicates a return on total capital of 4.63%, which is lower compared to previous quarters. Overall, the company's return on total capital has been variable, suggesting changes in the efficiency of capital utilization and profitability over the analyzed period.