Caesars Entertainment (LTS:0A78) EBIT : $2,346 Mil (TTM As of Mar. 2024)

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What is Caesars Entertainment EBIT?

Caesars Entertainment's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2024 was $465 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2024 was $2,346 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Caesars Entertainment's annualized ROC % for the quarter that ended in Mar. 2024 was 6.89%. Caesars Entertainment's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 was 12.58%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Caesars Entertainment's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2024 was 12.21%.

Caesars Entertainment EBIT Historical Data

The historical data trend for Caesars 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.

Caesars Entertainment EBIT Chart

Caesars Entertainment Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

EBIT

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411.00

-404.00

1,042.00

1,712.00

2,294.00

Caesars 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															413.00	615.00	723.00	543.00	465.00

Competitive Comparison of Caesars Entertainment's EBIT

For the Resorts & Casinos subindustry, Caesars 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.

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

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

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

Caesars 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 $2,346 Mil.

Caesars Entertainment (LTS:0A78) EBIT Explanation

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

Caesars 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 )
=	1964 * ( 1 - -11.81% )	/	( (32358	+	31416)	/ 2 )
=	2195.9484	/	31887
=	6.89 %

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	))
=	33366	-	1653	-	( 1005	-	max(0, 2690	-	2045	+	1005	))
=	32358

	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	))
=	33059	-	2441	-	( 726	-	max(0, 2535	-	1737	+	726	))
=	31416

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

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

Caesars 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 )
=	1860	/	( ( (14756 + max(-1562, 0))	+	(14803 + max(-1430, 0)) )	/	2 )
=	1860	/	( ( 14756	+	14803 )	/	2 )
=	1860	/	14779.5
=	12.58 %

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)
=	(608	+	46	+	386)	-	(1653	+	749	+	200)
=	-1562

	Working Capital		(Q: Mar. 2024 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(551	+	44	+	416)	-	(2441	+	0	+	0)
=	-1430

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:

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

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Mar. 2024 )
	=	2346	/	19211.025
	=	12.21 %

Caesars Entertainment EBIT Related Terms

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Caesars Entertainment (LTS:0A78) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Travel & Leisure » Caesars Entertainment Inc (LTS:0A78) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

CZR:USA 2ER:Germany

Address

100 West Liberty Street, 12th Floor, Reno, NV, USA, 89501

Website

https://www.caesars.com

Caesars Entertainment includes about 50 domestic gaming properties across Las Vegas (58% of 2022 EBITDAR before corporate and digital expenses) and regional (59%) markets. Additionally, the company hosts managed properties and digital assets, the later of which produced material EBITDA losses in 2022. Caesars' U.S. presence roughly doubled with the 2020 acquisition by Eldorado, which built its first casino in Reno, Nevada, in 1973 and expanded its presence through prior acquisitions to over 20 properties before merging with legacy Caesars. Caesars' brands include Caesars, Harrah's, Tropicana, Bally's, Isle, and Flamingo. Also, the company owns the U.S. portion of William Hill (it sold the international operation in 2022), a digital sports betting platform.

Caesars Entertainment (LTS:0A78) Headlines

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