PENN Entertainment, Inc. (PENN) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | 122.4M | 107.2M | 180.9M | 178.2M | 41.9M | 102.1M | 174.7M | 150.4M | -68.7M | -84.8M | 217M | 176M | 147.7M | 118.2M | 323.6M | 211.5M | 224.9M | 117.1M | 274.4M | 324.1M |
| Operating CF Margin % | 6.88% | 5.94% | 10.53% | 10.1% | 2.51% | 6.12% | 10.66% | 9.04% | -4.28% | -6.08% | 13.4% | 10.51% | 8.83% | 7.45% | 19.91% | 13% | 14.38% | 7.45% | 18.15% | 20.97% |
| Operating CF Growth % | 192.12% | 5% | 3.55% | 18.48% | 160.99% | 220.4% | -19.49% | -14.55% | -146.51% | -171.74% | -32.94% | -16.78% | -34.33% | 0.94% | 17.93% | -34.74% | 24.6% | -0.76% | -21.98% | 431.73% |
| Net Income | -2.8M | -73M | -865.1M | -18.3M | 111.5M | -133.3M | -36.7M | -26.8M | -114.9M | -358.1M | -725.1M | 78.1M | 514.4M | 20.8M | 123.2M | 26.1M | 51.6M | 45M | 86.1M | 198.7M |
| Depreciation & Amortization | 117M | 114.2M | 114.2M | 110.5M | 108M | 107.1M | 108.7M | 109.1M | 108.7M | 111.2M | 105.8M | 110.6M | 107.5M | 150.3M | 148.7M | 150.3M | 118.2M | 141.3M | 83.7M | 81.9M |
| Stock-Based Compensation | 14.1M | 0 | 16.8M | 16.1M | 12.4M | 0 | 0 | 14.2M | 11.9M | 0 | 35.2M | 19.7M | 16.5M | 13M | 13.6M | 14.5M | 17M | 0 | 8.5M | 9.2M |
| Deferred Taxes | 6.5M | -28.6M | 35M | 9M | 11.5M | -23.2M | 9.3M | 28.1M | -72.3M | -37.6M | -106.7M | 31M | 80.6M | -4.6M | -185.7M | 16.7M | 22.9M | -23.9M | -2.4M | 13.5M |
| Other Non-Cash Items | 107.4M | 246.9M | 942.8M | 132.3M | -97.2M | 210.6M | 121.1M | 121.7M | 115.5M | 244.6M | 1.02B | 66.2M | -477.7M | 47.5M | 158.4M | 73.5M | 63.6M | 56.9M | 39.4M | 52.3M |
| Working Capital Changes | -119.8M | -152.3M | -62.8M | -71.4M | -104.3M | -59.1M | -27.7M | -95.9M | -117.6M | -44.9M | -116.8M | -129.6M | -93.6M | -108.8M | 65.4M | -69.6M | -48.4M | -102.2M | 59.1M | -31.5M |
| Change in Receivables | 12.7M | -22.7M | 20.5M | 2.9M | 900K | -17.4M | 12.1M | 28.3M | 35.9M | -65.1M | -16.9M | -23.9M | 31.1M | -90.3M | 1.4M | -46.5M | 54.2M | -25M | -15.2M | -1M |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -300K | -1.4M | 1.6M | 0 | -200K | -300K | -500K | 0 | 0 | 0 |
| Change in Payables | 14.1M | -9.9M | 5.6M | -2.1M | 4M | -15.6M | 20.5M | 7.8M | 1.5M | -7.8M | 3.3M | 6.2M | -10.3M | -800K | 1.8M | -6.6M | -7.8M | -29.2M | -2.2M | 11.6M |
| Cash from Investing | -84.7M | -47.8M | -30.8M | -136.6M | -135.9M | -228.5M | -166.6M | -98.8M | -47.3M | -156.6M | -123.1M | -84.7M | -378.2M | -78.6M | -66.3M | -74.1M | -39.6M | -952.3M | -170.4M | -71.8M |
| Capital Expenditures | -94.6M | 486.6M | -181.9M | -179.5M | -125.2M | -278.9M | -132.1M | -88.2M | -41.4M | -157M | -80.4M | -81.3M | -63.2M | -78.7M | -66.2M | -61.9M | -65.6M | -130.5M | -75.1M | -38.9M |
| CapEx % of Revenue | 5.32% | 26.94% | 10.59% | 10.17% | 7.49% | 16.71% | 8.06% | 5.3% | 2.58% | 11.25% | 4.96% | 4.85% | 3.78% | 4.96% | 4.07% | 3.8% | 4.19% | 8.3% | 4.97% | 2.52% |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 200K | 300K | 3.5M | 0 | 300K | -42.9M | 100K | -314.6M | 0 | -15M | 0 | 0 | -841.7M | -70.2M | -6.2M |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 9.9M | -534.4M | 151.1M | 42.9M | -10.7M | 50.2M | -35.3M | -14.1M | -5.9M | -7.9M | 200K | -3.5M | -400K | 100K | -100K | -12.2M | 26M | 21.3M | 900K | -26.7M |
| Cash from Financing | -7M | -36.6M | -157.3M | 44.5M | -16.2M | -10.7M | -46.4M | -78.5M | -50.1M | -4.7M | -43.8M | -131.1M | -83M | -147.8M | -227.9M | -238.1M | -239.2M | -35.3M | 356.4M | -41.3M |
| Debt Issued (Net) | 10.2M | -185.8M | 9.1M | 149.9M | 26.8M | -32.4M | -32.4M | -41.6M | -31.6M | -6M | -39.9M | -31M | -31.2M | -62.3M | -53.5M | -51.2M | -62M | -36.1M | 364.6M | -34.7M |
| Equity Issued (Net) | 0 | 269.4M | -154.1M | -90.3M | -25M | 200K | 100K | 700K | 0 | 3.6M | 600K | -99.8M | -48.9M | -91M | -168M | -167M | -175.1M | 2M | 300K | 2.8M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 269.4M | -154.1M | -90.3M | -25M | 0 | 0 | 0 | 0 | 0 | 0 | -99.8M | -50M | -91M | -168M | -167M | -175.1M | 0 | 0 | 0 |
| Other Financing | -17.2M | -120.2M | -12.3M | -15.1M | -18M | 21.5M | -14.1M | -37.6M | -18.5M | -2.3M | -4.5M | -300K | -2.9M | 5.5M | -6.4M | -19.9M | -2.1M | -1.2M | -8.5M | -9.4M |
| Net Change in Cash | 29.9M | 22.7M | -8.4M | 86.9M | -110.2M | -138.4M | -38.3M | -27M | -166.9M | -247.5M | 50.1M | -40.3M | -312M | -108.7M | 28M | -100.4M | -54.8M | -875M | 460.4M | 211.1M |
| Free Cash Flow | 27.8M | -83.2M | -1M | -1.3M | -83.3M | -118.9M | 42.6M | 62.2M | -110.1M | -237M | 136.6M | 94.7M | 84.5M | 39.5M | 257.4M | 149.6M | 159.3M | 10.8M | 199.3M | 285.2M |
| FCF Margin % | 1.56% | -4.61% | -0.06% | -0.07% | -4.98% | -7.12% | 2.6% | 3.74% | -6.85% | -16.98% | 8.44% | 5.65% | 5.05% | 2.49% | 15.84% | 9.2% | 10.18% | 0.69% | 13.18% | 18.45% |
| FCF Growth % | 133.37% | 30.03% | -102.35% | -102.09% | 24.34% | 49.83% | -68.81% | -34.32% | -230.3% | -700% | -46.93% | -36.7% | -46.96% | 265.74% | 29.15% | -47.55% | 2.91% | -86.26% | -39.2% | 321.77% |
| FCF per Share | 0.21 | -0.62 | -0.01 | -0.01 | -0.50 | -0.78 | 0.28 | 0.41 | -0.72 | -1.57 | 0.91 | 0.56 | 0.50 | 0.23 | 1.49 | 0.83 | 0.86 | 0.06 | 1.15 | 1.65 |
| FCF Conversion (FCF/Net Income) | -53.22x | -1.47x | -0.21x | -10.24x | 0.37x | -0.77x | -4.76x | -5.61x | 0.60x | 0.24x | -0.30x | 2.25x | 0.29x | 5.68x | 2.62x | 8.10x | 4.36x | 2.60x | 3.19x | 1.63x |
| Interest Paid | 0 | -190.2M | 104.2M | 86M | 0 | 0 | 0 | 98.4M | 114M | 0 | 113.7M | 96.9M | 110.5M | 186.5M | 196.7M | 178.6M | 159.9M | 0 | 143.7M | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 300K | 600K | 0 | 7.9M | 64.9M | 1.1M | 26.5M | 800K | 44.5M | 1M | 0 | 47.9M | 0 |