Caesars Entertainment
CZR · Casinos & Gaming
$28.80
0.9%Penn Entertainment
PENN · Casinos & Gaming
$14.50
6.2%The short version
- Caesars Entertainment is the larger business, with $11.5B of revenue in fiscal 2025 against $7.0B for Penn Entertainment, about 1.7 times as much.
- Penn Entertainment grew revenue faster (5.8%, against 2.1%).
- Caesars Entertainment kept more of each dollar of sales as operating profit (16.2% operating margin, against −9.7% operating margin).
- Caesars Entertainment turned more of its sales into free cash flow (4.3% FCF margin, against −2.0% FCF margin).
- Caesars Entertainment earned a higher return on the capital invested in it (9.6%, against −8.1%).
| Latest fiscal year | CZR · FY25 | PENN · FY25 |
|---|---|---|
| Size | ||
| Market cap | $5.9B | $2.0B |
| Revenue | $11.5B | $7.0B |
| Free cash flow | $497M | −$140M |
| Net income | −$502M | −$843M |
| Growth | ||
| Revenue growth | 2.1% | 5.8% |
| 5-year growth | 25.9% | 14.2% |
| Share count change | −3.3% | −4.9% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 16.2% | −9.7% |
| Net margin | −4.4% | −12.1% |
| FCF margin | 4.3% | −2.0% |
| Return on capital | 9.6% | −8.1% |
| Return on equity | −13.1% | −35.9% |
| Balance sheet | ||
| Net debt | $11.2B | $4.3B |
| Net debt / EBITDA | 3.4x | — |
| Dividends and buybacks | $229M | $354M |
| Valuation & quality | ||
| P/E | — | — |
| Piotroski F-score | 6 | 4 |
FY16
CZR $893M
PENN $3.0B
FY17
CZR $1.5B
PENN $3.1B
FY18
CZR $2.1B
PENN $3.6B
FY19
CZR $2.5B
PENN $5.3B
FY20
CZR $3.6B
PENN $3.6B
FY21
CZR $9.6B
PENN $5.9B
FY22
CZR $10.8B
PENN $6.4B
FY23
CZR $11.5B
PENN $6.4B
FY24
CZR $11.2B
PENN $6.6B
FY25
CZR $11.5B
PENN $7.0B
CZR
PENN
FY16
CZR 9.9%
PENN 17.9%
FY17
CZR 6.4%
PENN 14.2%
FY18
CZR 15.1%
PENN 17.7%
FY19
CZR 16.2%
PENN 10.8%
FY20
CZR −10.6%
PENN −11.5%
FY21
CZR 15.3%
PENN 17.9%
FY22
CZR 16.1%
PENN 15.2%
FY23
CZR 21.4%
PENN −10.9%
FY24
CZR 20.5%
PENN 1.1%
FY25
CZR 16.2%
PENN −9.7%
CZR
PENN
FY16
CZR $52.2M
PENN $311M
FY17
CZR $46.7M
PENN $379M
FY18
CZR $176M
PENN $260M
FY19
CZR $142M
PENN $513M
FY20
CZR −$725M
PENN $202M
FY21
CZR $679M
PENN $652M
FY22
CZR $41.0M
PENN $615M
FY23
CZR $545M
PENN $95.9M
FY24
CZR −$221M
PENN −$123M
FY25
CZR $497M
PENN −$140M
CZR
PENN
FY16
CZR 5.5%
PENN 67.3%
FY17
CZR 3.7%
PENN 44.8%
FY18
CZR 6.2%
PENN 34.9%
FY19
CZR 6.6%
PENN 8.5%
FY20
CZR −2.7%
PENN −8.6%
FY21
CZR 6.4%
PENN 18.7%
FY22
CZR 8.2%
PENN 12.8%
FY23
CZR 12.2%
PENN −6.5%
FY24
CZR 11.3%
PENN 0.8%
FY25
CZR 9.6%
PENN −8.1%
CZR
PENN
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.