Penn Entertainment (PENN) FY2022 results: revenue $6.4 billion, up 8.4% on the year
Penn Entertainment, Inc. (PENN) reported revenue of $6.4 billion for fiscal 2022, the year ended 31 December 2022, up 8.4% on the year before. Net income was $222 million, down 47.2%, and diluted earnings per share $1.29. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2023.
Revenue
$6.4 billion
+8.4% on the year
FY2015FY2022
Operating margin
15.2%
17.9% a year earlier
FY2015FY2022
Net income
$222 million
-47.2% on the year
FY2015FY2022
Diluted EPS
$1.29
-48.0% on the year
FY2015FY2022
this yearthe year beforeHover a bar for its figure.
$ 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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
878
896
339
-2.0%
Capital expenditure
263
244
137
+7.9%
Free cash flow
615
652
202
-5.7%
Free cash flow margin
9.6%
11.0%
5.6%
Cash from investing
-259
-1,222
-234
Cash from financing
-853
340
1,310
Depreciation and amortisation
568
344
367
+64.7%
Share-based compensation
58.1
35.1
14.5
+65.5%
Buybacks
601
0.0
0.0
Diluted shares, weighted
177m
176m
134m
+0.6%
Shares outstanding at period end
n/a
n/a
156m
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
3,598
4,098
2,656
-12.2%
Non-controlling interest
-1.1
-0.7
-0.4
Debt
2,818
2,840
2,432
-0.8%
Operating lease liabilities
969
4,321
4,366
-77.6%
Finance lease liabilities
4,934
307
212
+1,505.5%
Other liabilities
5,185
5,306
5,002
-2.3%
Total liabilities and equity
17,502
16,872
14,667
+3.7%
Fixed assets
4,516
4,582
4,529
-1.5%
Goodwill
2,690
2,822
1,157
-4.7%
Intangible assets
1,739
1,873
1,514
-7.1%
Cash and equivalents
1,624
1,864
1,854
-12.9%
Receivables
247
195
96.4
+26.7%
Inventory
11.1
n/a
n/a
Other assets
6,676
5,536
5,517
+20.6%
Total assets
17,502
16,872
14,667
+3.7%
10-K for the year ended 31 December 2022, filed 23 February 2023: the filing.