Penn Entertainment (PENN) FY2012 results: revenue $2.7 billion, down 1.9% on the year
Penn Entertainment, Inc. (PENN) reported revenue of $2.7 billion for fiscal 2012, the year ended 31 December 2012, down 1.9% on the year before. Net income was $210 million, down 13.1%, and diluted earnings per share $2.03. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2013.
Revenue
$2.7 billion
-1.9% on the year
FY2008FY2012
Operating margin
14.8%
18.2% a year earlier
FY2008FY2012
Net income
$210 million
-13.1% on the year
FY2008FY2012
Diluted EPS
$2.03
-10.2% on the year
FY2008FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
2,689
2,742
2,459
-1.9%
Operating income
397
500
153
-20.4%
Operating margin
14.8%
18.2%
6.2%
Interest expense
82.1
99.6
130
-17.5%
Pre-tax income
325
389
n/a
-16.5%
Income tax
137
147
66.2
-6.4%
Effective tax rate
42.3%
37.7%
n/a
Net income
210
242
-59.5
-13.1%
Net margin
7.8%
8.8%
-2.4%
Diluted EPS
$2.03
$2.26
-$0.76
-10.2%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
507
567
493
-10.6%
Capital expenditure
386
216
363
+78.8%
Free cash flow
121
351
130
-65.6%
Free cash flow margin
4.5%
12.8%
5.3%
Cash from investing
n/a
n/a
-737
Cash from financing
n/a
n/a
-223
Depreciation and amortisation
233
211
212
+10.4%
Share-based compensation
28.6
24.3
26.0
+17.6%
Buybacks
n/a
105
35.9
Diluted shares, weighted
104m
107m
78m
-3.0%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
2,242
1,964
1,778
+14.1%
Non-controlling interest
9.3
7.9
n/a
+18.7%
Debt
2,732
2,043
2,171
+33.7%
Other liabilities
661
592
514
+11.7%
Total liabilities and equity
5,644
4,606
4,463
+22.5%
Fixed assets
2,731
2,277
1,966
+19.9%
Goodwill
1,381
1,180
1,186
+17.0%
Intangible assets
706
422
415
+67.6%
Cash and equivalents
260
238
246
+9.2%
Receivables
53.7
55.5
44.5
-3.1%
Other assets
512
433
605
+18.1%
Total assets
5,644
4,606
4,463
+22.5%
10-K for the year ended 31 December 2012, filed 22 February 2013: the filing.