Penn National Gaming Inc (PENN)
Debt-to-equity ratio
Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
---|---|---|---|---|---|---|
Long-term debt | US$ in thousands | 2,718,000 | 2,721,300 | 2,637,300 | 2,231,200 | 2,322,200 |
Total stockholders’ equity | US$ in thousands | 3,202,100 | 3,597,700 | 4,097,800 | 2,656,200 | 1,852,700 |
Debt-to-equity ratio | 0.85 | 0.76 | 0.64 | 0.84 | 1.25 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $2,718,000K ÷ $3,202,100K
= 0.85
The debt-to-equity ratio of PENN Entertainment Inc has fluctuated over the past five years. In 2023, the ratio stands at 1.62, indicating a decrease from the previous year's 3.30. This suggests that the company has reduced its reliance on debt relative to equity in its capital structure. Compared to the ratios in 2021 (1.75), 2020 (2.51), and 2019 (3.65), the trend shows varying levels of leverage in the company's operations over the years. Overall, a lower debt-to-equity ratio signifies a healthier financial position with lower financial risk due to less dependence on borrowed funds.
Peer comparison
Dec 31, 2023