Penn Entertainment (PENN) FY2017 results: revenue $3.1 billion, up 3.7% on the year
Penn Entertainment, Inc. (PENN) reported revenue of $3.1 billion for fiscal 2017, the year ended 31 December 2017, up 3.7% on the year before. Net income was $473 million, up 333.1%, and diluted earnings per share $5.07. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2018.
Revenue
$3.1 billion
+3.7% on the year
FY2010FY2017
Operating margin
14.2%
17.9% a year earlier
FY2010FY2017
Net income
$473 million
+333.1% on the year
FY2010FY2017
Diluted EPS
$5.07
+326.1% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
3,148
3,034
2,838
+3.7%
Operating income
446
543
468
-17.9%
Operating margin
14.2%
17.9%
16.5%
Interest expense
467
459
443
+1.6%
Pre-tax income
-25.1
121
56.6
Income tax
-499
11.3
55.9
Effective tax rate
n/a
9.4%
98.8%
Net income
473
109
0.7
+333.1%
Net margin
15.0%
3.6%
0.0%
Diluted EPS
$5.07
$1.19
$0.01
+326.1%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
478
408
414
+17.1%
Capital expenditure
99.3
97.2
137
+2.1%
Free cash flow
378
311
277
+21.8%
Free cash flow margin
12.0%
10.2%
9.8%
Cash from investing
-222
-79.3
-781
Cash from financing
-207
-340
396
Depreciation and amortisation
267
271
259
-1.5%
Share-based compensation
7.8
6.9
8.2
+13.5%
Buybacks
24.8
0.0
n/a
Diluted shares, weighted
93m
91m
91m
+2.2%
Shares outstanding at period end
91m
91m
81m
+0.1%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
-73.1
-543
-678
Non-controlling interest
0.0
n/a
n/a
Debt
1,250
1,416
1,735
-11.7%
Other liabilities
4,058
4,102
4,082
-1.1%
Total liabilities and equity
5,235
4,974
5,139
+5.2%
Fixed assets
2,757
2,820
2,980
-2.3%
Goodwill
1,008
990
912
+1.9%
Intangible assets
423
435
391
-3.0%
Cash and equivalents
278
230
237
+21.1%
Receivables
62.8
61.9
45.2
+1.5%
Other assets
707
438
573
+61.5%
Total assets
5,235
4,974
5,139
+5.2%
10-K for the year ended 31 December 2017, filed 1 March 2018: the filing.