PENN Entertainment (BSP:P2EN34) EBIT : R$-4,150 Mil (TTM As of Mar. 2024)

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What is PENN Entertainment EBIT?

PENN Entertainment's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2024 was R$-42 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2024 was R$-4,150 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. PENN Entertainment's annualized ROC % for the quarter that ended in Mar. 2024 was -0.52%. PENN Entertainment's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 was -0.35%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. PENN Entertainment's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2024 was -7.51%.

PENN Entertainment EBIT Historical Data

The historical data trend for PENN Entertainment's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

PENN Entertainment EBIT Chart

PENN Entertainment Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

EBIT

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2,551.77

-1,492.48

6,231.13

4,896.58

-171.00

PENN Entertainment Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
EBIT	Get a 7-Day Free Trial															4,142.40	1,108.59	-3,799.34	-1,417.51	-41.83

Competitive Comparison of PENN Entertainment's EBIT

For the Resorts & Casinos subindustry, PENN Entertainment's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

PENN Entertainment's EV-to-EBIT Distribution in the Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, PENN Entertainment's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where PENN Entertainment's EV-to-EBIT falls into.

PENN Entertainment EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Mar. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was R$-4,150 Mil.

PENN Entertainment (BSP:P2EN34) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

PENN Entertainment's annualized ROC % for the quarter that ended in Mar. 2024 is calculated as:

	ROC % (Q: Mar. 2024 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2023 )	+	Invested Capital (Q: Mar. 2024 ))	/ count )
=	-426.272 * ( 1 - 9.88% )	/	( (74569.566	+	72982.953)	/ 2 )
=	-384.1563264	/	73776.2595
=	-0.52 %

where

	Invested Capital		(Q: Dec. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	78711.367	-	3313.735	-	( 5251.606	-	max(0, 7300.702	-	8128.768	+	5251.606	))
=	74569.566

	Invested Capital		(Q: Mar. 2024 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	77756.589	-	4498.751	-	( 4499.747	-	max(0, 6661.478	-	6936.363	+	4499.747	))
=	72982.953

Note: The Operating Income data used here is four times the quarterly (Mar. 2024) data.

2. Joel Greenblatt's definition of Return on Capital:

PENN Entertainment's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Mar. 2024 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2023		Q: Mar. 2024
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-167.32	/	( ( (48114.566 + max(-3227.988, 0))	+	(48183.549 + max(-2062.135, 0)) )	/	2 )
=	-167.32	/	( ( 48114.566	+	48183.549 )	/	2 )
=	-167.32	/	48149.0575
=	-0.35 %

where Working Capital is:

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(644.324	+	0	+	1314.126)	-	(3313.735	+	0	+	1872.703)
=	-3227.988

	Working Capital		(Q: Mar. 2024 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(1405.798	+	0	+	1030.818)	-	(4498.751	+	0	+	0)
=	-2062.135

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2024) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

PENN Entertainment's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Mar. 2024 )
	=	-4150.099	/	55280.022
	=	-7.51 %

PENN Entertainment EBIT Related Terms

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PENN Entertainment (BSP:P2EN34) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Travel & Leisure » PENN Entertainment Inc (BSP:P2EN34) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

PENN:USA PN1:Germany

Address

825 Berkshire Boulevard, Suite 200, Wyomissing, PA, USA, 19610

Website

https://www.pngaming.com

Penn Entertainment's origins date back to its 1972 racetrack opening in Pennsylvania. Today, Penn operates 43 properties across 20 states and 12 brands (such as Hollywood Casino and Ameristar), with land-based casinos representing 90% of total sales in 2022 (10% was from the interactive segment, which includes sports, iGaming, and media revenue). The retail portfolio generates high-30% EBITDAR margins and helps position the company to obtain licenses for the digital wagering markets. Additionally, Penn's media assets, theScore and ESPN (starting with its partnership launch Nov. 14, 2023), provide access to sports betting/iGaming technology and clientele, helping it form a leading digital position.

PENN Entertainment (BSP:P2EN34) Headlines

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