Caesars Entertainment

Consumer Discretionary Casinos & Gaming Reno, Nevada Last filing Feb 25, 2025 · FY2024

                    Revenue
                    FY2024
                
$11.2B
                    3y CAGR +5.5%
                    
                    P40
                    
                    -2.5%
                    
                    Net income
                    FY2024
                
$-278.0M
                    Net margin -2.5%
                    
                    P2
                    
                    -135.4%
                    
                    Total assets
                    FY2024
                
$32.6B
                    ROA -0.9%
                    
                    P2
                    
                    -2.3%
                    
                    Operating cash flow
                    FY2024
                
$1.1B
                    FCF margin -2.0%
                    
                    P4
                    
                    -40.6%

13 yrs · FY2012–FY2024 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s total assets.

Balance Sheet

Assets, liabilities, and equity

34 accounts · 3 years

Total assets $32.6B

Total liabilities $28.2B

Shareholders equity $4.2B

Account	2024	2023	2022
Assets
Cash and Cash Equivalents	2.7%	3.0%	3.1%
Accounts Receivable(net Casino&Other)	1.4%	1.8%	1.8%
Inventory(net)	0.1%	0.1%	0.2%
Total Current Assets	5.4%	6.1%	6.3%
Property,Plant&Equipment(net)	45.4%	44.2%	43.5%
Operating Lease Right of Use Asset(lessee)	1.9%	1.9%	1.9%
Finance Lease Right of Use Asset(lessee)	0.2%	0.2%	0.2%
Equity Method Investments	0.4%	0.5%	0.3%
Goodwill	32.5%	32.9%	32.8%
Other Intangible Assets(net)	2.6%	2.8%	3.2%
Deferred Tax Assets	0.2%	0.1%	0.0%
Other Noncurrent Assets	3.4%	2.5%	3.0%
Total Assets	100.0%	100.0%	100.0%
Liabilities
Accounts Payable	0.9%	1.2%	0.9%
Accrued Liabilities	5.0%	5.5%	5.8%
Contract Liabilities/Customer Deposits	1.8%	2.2%	2.2%
Short Term Debt&Current Portion of Ltd	0.3%	0.2%	0.3%
Total Current Liabilities	7.0%	8.1%	8.0%
Long Term Debt(noncurrent)	36.9%	36.6%	37.8%
Operating Lease Liabilities(noncurrent Lessee)	2.2%	2.2%	2.1%
Finance Lease Liabilities(noncurrent Lessee)	39.6%	38.2%	37.6%
Deferred Tax Liabilities	0.4%	0.3%	2.9%
Unrecognized Tax Benefits(noncurrent)	0.4%	0.4%	0.4%
Other Noncurrent Liabilities	2.7%	2.6%	2.5%
Total Liabilities	86.6%	85.9%	88.8%
Equity
Preferred Stock	0.0%	0.0%	0.0%
Common Stock	0.0%	0.0%	0.0%
Additional Paid In Capital	21.1%	21.0%	20.7%
Retained Earnings/Accumulated Deficit	-8.6%	-7.6%	-9.9%
Accumulated Other Comprehensive Income(loss)	0.3%	0.3%	0.3%
Treasury Stock	0.0%	0.0%	0.0%
Noncontrolling Interest(equity Section)	0.7%	0.5%	0.1%
Total Stockholders' Equity	12.8%	13.6%	11.1%
Total Liabilities and Stockholders' Equity	100.0%	100.0%	100.0%

Income Statement

Revenue, expense, and profitability

24 accounts · 3 years

Revenue $11.2B

Operating income $2.3B

Net income $-278.0M

Account	2024	2023	2022
IncomeStatement
Revenues Total net Revenue	34.5%	34.6%	32.3%
Costs and Expenses Total Operating Costs&Expenses	27.4%	27.1%	27.1%
Costs and Expenses Selling,General and Administrative Expense(sg&a)	5.9%	6.0%	6.2%
Costs and Expenses Depreciation and Amortization	4.1%	3.8%	3.6%
Costs and Expenses Impairment&Restructuring Charges	0.9%	0.3%	0.3%
Operating Income Operating Income(loss)	7.1%	7.4%	5.2%
Non Operating Income Expense Interest Expense,Net	7.5%	7.2%	6.9%
Non Operating Income Expense Interest Income	0.0%	0.0%	0.0%
Non Operating Income Expense Other Non Operating Income(expense)	0.1%	0.0%	0.1%
Income Before Tax Income Before Income Taxes(continuing Operations)	-0.4%	-0.2%	-1.7%
Income Tax Income Tax Expense(benefit)	0.3%	-2.7%	-0.1%
Income From Continuing Operations	-0.9%	2.4%	-1.5%
Income From Discontinued Operations	0.0%	0.0%	-1.2%
net Income net Income(loss)	-0.9%	2.4%	-2.7%
net Income net Income(loss)Attributable To Noncontrolling Interest	0.2%	0.1%	-0.0%
Earnings Per Share Basic Eps(continuing Operations)	-0.0%	0.0%	-0.0%
Earnings Per Share Diluted Eps(continuing Operations)	-0.0%	0.0%	-0.0%
Earnings Per Share Basic Eps(net Income)	-0.0%	0.0%	-0.0%
Earnings Per Share Diluted Eps(net Income)	-0.0%	0.0%	-0.0%
Earnings Per Share Weighted Average Shares Basic	0.7%	0.6%	0.6%
Earnings Per Share Weighted Average Shares Diluted	0.7%	0.6%	0.6%
Comprehensive Income Other Comprehensive Income(loss),Net of Tax	-0.0%	0.0%	0.2%
Comprehensive Income Comprehensive Income(loss),Net of Tax	-0.9%	2.4%	-2.5%
Comprehensive Income Comprehensive Income Attributable To Noncontrolling Interest	0.2%	0.1%	-0.0%

Cash Flow Statement

Operating, investing, and financing flows

27 accounts · 3 years

Operating cash flow $1.1B

Investing cash flow $-704.0M

Financing cash flow $-498.0M

Account	2024	2023	2022
CashFlow
Operating Activities net Income	-0.9%	2.4%	-2.7%
Operating Activities Depreciation and Amortization	4.1%	3.8%	3.6%
Operating Activities Share Based Compensation	0.3%	0.3%	0.3%
Operating Activities Provision For Doubtful Accounts	0.2%	0.1%	0.1%
Operating Activities Impairment Charges&Restructuring	0.9%	0.3%	0.3%
Operating Activities Gain(loss)On Sale of Assets/Investments/Debt Extinguishment	-0.3%	-0.6%	-0.3%
Operating Activities Other Non Cash Items	0.1%	0.1%	0.2%
Operating Activities Increase/decrease In Accounts Receivable	-0.3%	0.2%	0.4%
Operating Activities Increase/decrease In Other Operating Assets	0.0%	-0.1%	0.0%
Operating Activities Increase/decrease In Accounts Payable&Accrued Liabilities	-1.5%	0.0%	-0.2%
Operating Activities net Cash From Operating Activities	3.3%	5.4%	3.0%
Investing Activities Capital Expenditures(pp&e)	4.0%	3.8%	2.8%
Investing Activities Acquisitions/Divestitures	0.0%	0.1%	0.0%
Investing Activities Other Investing Activities	0.0%	-0.1%	0.0%
Investing Activities net Cash From Investing Activities	-2.2%	-3.8%	-2.3%
Financing Activities Proceeds From Debt	23.1%	16.4%	4.5%
Financing Activities Repayment of Debt	23.5%	0.0%	0.0%
Financing Activities Proceeds From Issuance of Stock	0.0%	0.0%	0.0%
Financing Activities Repurchase of Stock	0.6%	0.0%	0.0%
Financing Activities Payments Related To Tax Withholding For Share Based Comp	0.1%	0.1%	0.1%
Financing Activities Payments/proceeds Related To Noncontrolling Interests	0.0%	0.0%	0.0%
Financing Activities net Cash From Financing Activities	-1.5%	-2.1%	-3.8%
Cash Reconciliation Effect of Exchange Rate On Cash	0.0%	0.0%	-0.1%
Cash Reconciliation net Change In Cash	-0.4%	-0.5%	-2.1%
Supplemental Disclosures Income Taxes Paid	0.1%	0.1%	0.1%
Supplemental Disclosures Interest Paid	3.2%	2.5%	2.4%
Supplemental Disclosures Non Cash Investing&Financing Activities	0.0%	0.1%	0.1%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2024	2023	2022
Profitability
Gross margin	—	—	—
Operating margin	+20.5%	+21.4%	+16.1%
Net margin	-2.5%	+6.8%	-8.3%
FCF margin	-2.0%	+4.7%	+0.4%
Growth
Revenue CAGR (3y)	+5.5%	+47.0%	+62.4%
Returns
ROE	-6.7%	+17.3%	-24.2%
ROA	-0.9%	+2.4%	-2.7%
ROIC	+14.9%	+15.6%	+11.3%
Liquidity
Current ratio	0.77x	0.76x	0.79x
Quick ratio	—	—	—
Leverage
D/E	6.79x	6.29x	8.02x
Interest coverage	—	—	—
Efficiency
Asset turnover	0.35x	0.35x	0.32x
Cash conversion cycle	—	—	—

Valuation

Price against fundamentals

FY2024 fundamentals · no price

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Caesars Entertainment

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