Penn National Gaming Inc (PENN)
Solvency ratios
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-capital ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-equity ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Financial leverage ratio | 5.33 | 5.06 | 5.08 | 5.08 | 5.02 | 4.64 | 4.04 | 4.08 | 4.86 | 4.85 | 4.75 | 4.57 | 4.12 | 5.13 | 5.10 | 5.40 | 5.52 | 5.62 | 9.51 | 10.90 |
Penn National Gaming Inc's solvency ratios reflect a strong financial position with consistently low debt levels relative to its assets, capital, and equity over the years. The Debt-to-assets ratio, Debt-to-capital ratio, and Debt-to-equity ratio have all remained at 0.00% from March 2020 to December 2024, indicating that the company has not relied heavily on debt to finance its operations.
The Financial leverage ratio, which measures the extent to which the company is using debt to finance its assets, shows a declining trend from 10.90 in March 2020 to 5.33 in December 2024. This trend signifies that Penn National Gaming Inc has been effectively reducing its reliance on debt to support its operations and investments, leading to a more conservative capital structure.
Overall, based on the solvency ratios analysis, Penn National Gaming Inc appears to have a healthy financial position with minimal debt levels, a conservative capital structure, and a stable balance between debt and equity financing.
Coverage ratios
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | 0.27 | -0.26 | -2.06 | -1.93 | -0.22 | 0.87 | 2.33 | 2.20 | 1.33 | 1.24 | 1.35 | 1.64 | 1.67 | 1.70 | 1.79 | 0.97 | -0.44 | -0.67 | -0.82 | -0.23 |
The interest coverage ratio of Penn National Gaming Inc has been fluctuating over the quarters. At the end of March 31, 2020, the company had a notably negative interest coverage of -0.23, indicating that the company had insufficient earnings to cover its interest expenses. This negative trend continued into the next quarters but showed a slight improvement by the end of March 31, 2021, with an interest coverage of 0.97, which still indicated a strained financial position.
Subsequently, the company's interest coverage ratios showed a positive upward trend, reaching a peak of 2.33 at the end of June 30, 2023, suggesting that Penn National Gaming Inc had significantly improved its ability to cover its interest expenses with its earnings. However, this positive trend was not sustained, as the interest coverage ratio declined to -2.06 by June 30, 2024, indicating a potential deterioration in the company's financial position.
Overall, the fluctuating interest coverage ratios of Penn National Gaming Inc suggest that the company's ability to meet its interest obligations has been variable over the quarters, with periods of improvement followed by setbacks. It is essential for investors and stakeholders to closely monitor these ratios to assess the company's financial health and sustainability.