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 revenue.

Balance Sheet

Assets, liabilities, and equity

34 accounts · 5 years

Total assets $32.6B

Total liabilities $28.2B

Shareholders equity $4.2B

Account	2024	2023	2022	2021	2020
Assets
Cash and Cash Equivalents	7.7%	8.7%	9.6%	11.2%	49.0%
Accounts Receivable(net Casino&Other)	4.2%	5.3%	5.6%	4.9%	9.4%
Inventory(net)	0.4%	0.4%	0.5%	0.4%	1.2%
Total Current Assets	15.5%	17.7%	19.4%	62.3%	167.1%
Property,Plant&Equipment(net)	131.7%	128.0%	134.9%	152.6%	406.1%
Operating Lease Right of Use Asset(lessee)	5.4%	5.4%	5.9%	6.9%	12.6%
Finance Lease Right of Use Asset(lessee)	0.5%	0.6%	0.7%	0.4%	1.8%
Equity Method Investments	1.2%	1.4%	0.9%	1.7%	4.8%
Goodwill	94.3%	95.3%	101.7%	115.7%	271.9%
Other Intangible Assets(net)	7.6%	8.2%	9.8%	12.6%	13.8%
Deferred Tax Assets	0.6%	0.4%	0.0%	79.4%	213.1%
Other Noncurrent Assets	9.8%	7.4%	9.4%	13.7%	34.9%
Total Assets	289.8%	289.4%	309.8%	397.4%	1002.9%
Liabilities
Accounts Payable	2.6%	3.5%	2.9%	2.7%	4.6%
Accrued Liabilities	14.5%	16.0%	17.8%	20.6%	34.8%
Contract Liabilities/Customer Deposits	5.3%	6.5%	6.9%	6.4%	6.9%
Short Term Debt&Current Portion of Ltd	1.0%	0.6%	1.0%	0.7%	1.8%
Total Current Liabilities	20.2%	23.3%	24.7%	55.4%	69.3%
Long Term Debt(noncurrent)	107.0%	106.0%	117.0%	143.4%	387.9%
Operating Lease Liabilities(noncurrent Lessee)	6.4%	6.3%	6.6%	7.6%	14.2%
Finance Lease Liabilities(noncurrent Lessee)	114.7%	110.7%	116.5%	129.8%	338.9%
Deferred Tax Liabilities	1.2%	0.9%	9.1%	11.6%	32.1%
Unrecognized Tax Benefits(noncurrent)	1.0%	1.1%	1.2%	1.6%	3.8%
Other Noncurrent Liabilities	7.8%	7.6%	7.9%	9.8%	35.9%
Total Liabilities	250.9%	248.5%	275.2%	349.9%	864.1%
Equity
Preferred Stock	0.0%	0.0%	0.0%	0.0%	—
Common Stock	0.0%	0.0%	0.0%	0.0%	0.0%
Additional Paid In Capital	61.0%	60.7%	64.3%	71.9%	175.9%
Retained Earnings/Accumulated Deficit	-24.9%	-21.9%	-30.6%	-25.2%	-38.3%
Accumulated Other Comprehensive Income(loss)	0.9%	0.8%	0.9%	0.4%	0.9%
Treasury Stock	0.0%	0.0%	0.0%	0.2%	0.2%
Noncontrolling Interest(equity Section)	1.9%	1.5%	0.4%	0.6%	0.5%
Total Stockholders' Equity	37.0%	39.5%	34.3%	46.8%	138.3%
Total Liabilities and Stockholders' Equity	289.8%	289.4%	309.8%	397.4%	1002.9%

Income Statement

Revenue, expense, and profitability

24 accounts · 5 years

Revenue $11.2B

Operating income $2.3B

Net income $-278.0M

Account	2024	2023	2022	2021	2020
IncomeStatement
Revenues Total net Revenue	100.0%	100.0%	100.0%	100.0%	100.0%
Costs and Expenses Total Operating Costs&Expenses	79.5%	78.6%	83.9%	84.7%	110.6%
Costs and Expenses Selling,General and Administrative Expense(sg&a)	17.1%	17.5%	19.1%	18.6%	24.9%
Costs and Expenses Depreciation and Amortization	11.8%	10.9%	11.1%	11.8%	16.1%
Costs and Expenses Impairment&Restructuring Charges	2.7%	0.8%	1.0%	1.1%	5.9%
Operating Income Operating Income(loss)	20.5%	21.4%	16.1%	15.3%	-10.6%
Non Operating Income Expense Interest Expense,Net	21.7%	20.8%	21.3%	24.2%	33.4%
Non Operating Income Expense Interest Income	0.1%	0.1%	0.1%	0.2%	0.3%
Non Operating Income Expense Other Non Operating Income(expense)	0.2%	0.1%	0.4%	-2.1%	4.9%
Income Before Tax Income Before Income Taxes(continuing Operations)	-1.1%	-0.5%	-5.2%	-13.3%	-44.3%
Income Tax Income Tax Expense(benefit)	0.8%	-7.7%	-0.4%	-3.0%	3.6%
Income From Continuing Operations	-2.5%	6.8%	-4.7%	-10.3%	-47.9%
Income From Discontinued Operations	0.0%	0.0%	-3.6%	-0.3%	-0.6%
net Income net Income(loss)	-2.5%	6.8%	-8.3%	-10.6%	-48.4%
net Income net Income(loss)Attributable To Noncontrolling Interest	0.6%	0.4%	-0.1%	0.0%	-0.0%
Earnings Per Share Basic Eps(continuing Operations)	-0.0%	0.0%	-0.0%	-0.0%	-0.0%
Earnings Per Share Diluted Eps(continuing Operations)	-0.0%	0.0%	-0.0%	-0.0%	-0.0%
Earnings Per Share Basic Eps(net Income)	-0.0%	0.0%	-0.0%	-0.0%	-0.0%
Earnings Per Share Diluted Eps(net Income)	-0.0%	0.0%	-0.0%	-0.0%	-0.0%
Earnings Per Share Weighted Average Shares Basic	1.9%	1.9%	2.0%	2.2%	3.6%
Earnings Per Share Weighted Average Shares Diluted	1.9%	1.9%	2.0%	2.2%	3.6%
Comprehensive Income Other Comprehensive Income(loss),Net of Tax	-0.0%	0.0%	0.5%	0.0%	1.0%
Comprehensive Income Comprehensive Income(loss),Net of Tax	-2.5%	6.9%	-7.8%	-10.6%	-47.5%
Comprehensive Income Comprehensive Income Attributable To Noncontrolling Interest	0.6%	0.4%	-0.1%	0.0%	0.0%

Cash Flow Statement

Operating, investing, and financing flows

27 accounts · 5 years

Operating cash flow $1.1B

Investing cash flow $-704.0M

Financing cash flow $-498.0M

Account	2024	2023	2022	2021	2020
CashFlow
Operating Activities net Income	-2.5%	6.8%	-8.3%	-10.6%	-48.4%
Operating Activities Depreciation and Amortization	11.8%	10.9%	11.1%	11.8%	16.1%
Operating Activities Share Based Compensation	0.8%	0.9%	0.9%	0.9%	2.2%
Operating Activities Provision For Doubtful Accounts	0.4%	0.4%	0.2%	0.3%	0.8%
Operating Activities Impairment Charges&Restructuring	2.7%	0.8%	1.0%	1.1%	5.9%
Operating Activities Gain(loss)On Sale of Assets/Investments/Debt Extinguishment	-0.8%	-1.7%	-0.8%	-2.5%	-5.4%
Operating Activities Other Non Cash Items	0.2%	0.3%	0.5%	0.1%	0.1%
Operating Activities Increase/decrease In Accounts Receivable	-0.8%	0.7%	1.3%	1.4%	1.9%
Operating Activities Increase/decrease In Other Operating Assets	0.1%	-0.3%	0.1%	0.7%	-0.2%
Operating Activities Increase/decrease In Accounts Payable&Accrued Liabilities	-4.4%	0.1%	-0.8%	5.0%	0.7%
Operating Activities net Cash From Operating Activities	9.6%	15.7%	9.2%	12.5%	-15.5%
Investing Activities Capital Expenditures(pp&e)	11.5%	11.0%	8.8%	5.4%	4.5%
Investing Activities Acquisitions/Divestitures	0.1%	0.3%	0.1%	3.7%	176.2%
Investing Activities Other Investing Activities	0.0%	-0.3%	0.1%	0.0%	-0.2%
Investing Activities net Cash From Investing Activities	-6.3%	-10.9%	-7.1%	-15.1%	-168.1%
Financing Activities Proceeds From Debt	66.9%	47.4%	13.9%	13.7%	269.2%
Financing Activities Repayment of Debt	68.2%	0.0%	0.0%	3.8%	24.9%
Financing Activities Proceeds From Issuance of Stock	0.0%	0.0%	0.0%	0.0%	0.0%
Financing Activities Repurchase of Stock	1.7%	0.0%	0.0%	—	0.0%
Financing Activities Payments Related To Tax Withholding For Share Based Comp	0.2%	0.2%	0.2%	0.5%	0.4%
Financing Activities Payments/proceeds Related To Noncontrolling Interests	0.1%	0.0%	0.0%	0.0%	0.0%
Financing Activities net Cash From Financing Activities	-4.4%	-6.2%	-11.8%	-11.9%	293.3%
Cash Reconciliation Effect of Exchange Rate On Cash	0.0%	0.0%	-0.3%	0.3%	3.6%
Cash Reconciliation net Change In Cash	-1.1%	-1.4%	-6.6%	-23.6%	112.0%
Supplemental Disclosures Income Taxes Paid	0.4%	0.2%	0.2%	0.1%	-0.2%
Supplemental Disclosures Interest Paid	9.4%	7.3%	7.4%	8.7%	24.6%
Supplemental Disclosures Non Cash Investing&Financing Activities	0.1%	0.4%	0.4%	0.1%	1.0%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2024	2023	2022	2021	2020
Profitability
Gross margin	—	—	—	—	—
Operating margin	+20.5%	+21.4%	+16.1%	+15.3%	-10.6%
Net margin	-2.5%	+6.8%	-8.3%	-10.6%	-48.4%
FCF margin	-2.0%	+4.7%	+0.4%	+7.1%	-20.0%
Growth
Revenue CAGR (3y)	+5.5%	+47.0%	+62.4%	+67.0%	+35.0%
Returns
ROE	-6.7%	+17.3%	-24.2%	-22.7%	-35.0%
ROA	-0.9%	+2.4%	-2.7%	-2.7%	-4.8%
ROIC	+14.9%	+15.6%	+11.3%	+8.5%	-2.2%
Liquidity
Current ratio	0.77x	0.76x	0.79x	1.13x	2.41x
Quick ratio	—	—	—	—	—
Leverage
D/E	6.79x	6.29x	8.02x	7.48x	6.25x
Interest coverage	—	—	—	—	—
Efficiency
Asset turnover	0.35x	0.35x	0.32x	0.25x	0.10x
Cash conversion cycle	—	—	—	—	—

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FY2024 fundamentals · no price

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Caesars Entertainment

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