Penn National Gaming Inc (PENN)
Financial leverage ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total assets | US$ in thousands | 16,064,200 | 17,502,100 | 16,872,100 | 14,667,300 | 14,194,500 |
| Total stockholders’ equity | US$ in thousands | 3,202,100 | 3,597,700 | 4,097,800 | 2,656,200 | 1,852,700 |
| Financial leverage ratio | 5.02 | 4.86 | 4.12 | 5.52 | 7.66 |
December 31, 2023 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $16,064,200K ÷ $3,202,100K
= 5.02
The financial leverage ratio of PENN Entertainment Inc has shown fluctuations over the past five years. The ratio has ranged from 4.12 to 7.66, with the highest value recorded in 2019 and the lowest in 2021. In 2023, the financial leverage ratio stood at 5.02, indicating that the company's reliance on debt to finance its operations and investments has increased compared to the previous year. This upward trend suggests a higher level of financial risk as higher leverage ratios indicate a greater proportion of debt in the company's capital structure. It is important for investors and stakeholders to monitor this metric closely to assess the company's ability to meet its debt obligations and maintain financial stability.
Peer comparison
Dec 31, 2023