Penn Entertainment (PENN) FY2023 results: revenue $6.4 billion, down 0.6% on the year
Penn Entertainment, Inc. (PENN) reported revenue of $6.4 billion for fiscal 2023, the year ended 31 December 2023, down 0.6% on the year before. Net income was -$490 million, and diluted earnings per share $-3.22. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2024.
Revenue
$6.4 billion
-0.6% on the year
FY2016FY2023
Operating margin
-10.8%
15.2% a year earlier
FY2016FY2023
Net income
-$490 million
FY2016FY2023
Diluted EPS
-$3.22
FY2016FY2023
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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
456
878
896
-48.1%
Capital expenditure
360
263
244
+36.7%
Free cash flow
95.9
615
652
-84.4%
Free cash flow margin
1.5%
9.6%
11.0%
Cash from investing
-743
-259
-1,222
Cash from financing
-263
-853
340
Depreciation and amortisation
435
568
344
-23.3%
Share-based compensation
85.9
58.1
35.1
+47.8%
Buybacks
150
601
0.0
-75.1%
Diluted shares, weighted
152m
177m
176m
-13.9%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
3,202
3,598
4,098
-11.0%
Non-controlling interest
-2.5
-1.1
-0.7
Debt
2,798
2,818
2,840
-0.7%
Operating lease liabilities
3,944
969
4,321
+306.9%
Finance lease liabilities
2,062
4,934
307
-58.2%
Other liabilities
4,060
5,185
5,306
-21.7%
Total liabilities and equity
16,064
17,502
16,872
-8.2%
Fixed assets
3,514
4,516
4,582
-22.2%
Goodwill
2,695
2,690
2,822
+0.2%
Intangible assets
1,618
1,739
1,873
-6.9%
Cash and equivalents
1,072
1,624
1,864
-34.0%
Receivables
319
247
195
+29.1%
Inventory
n/a
11.1
n/a
Other assets
6,846
6,676
5,536
+2.5%
Total assets
16,064
17,502
16,872
-8.2%
10-K for the year ended 31 December 2023, filed 22 February 2024: the filing.