PENN Entertainment Inc. (PENN) financial statements: income statement, balance sheet and cash flow
PENN Entertainment Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), PENN Entertainment Inc. reported revenue of $7.0B (+5.8% year on year) and net income of ($845.3M) (-169.8% year on year).
Income statement
PENN Entertainment Inc. income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Total revenues
$7.0B
$6.6B
$6.4B
$6.4B
Cost of revenue
$4.6B
$4.4B
$4.0B
$3.6B
General and administrative
$1.6B
$1.6B
$1.6B
$1.1B
Depreciation and amortization
$446.9M
$433.6M
$435.1M
$567.5M
Impairment losses
$945.3M
$89.1M
$130.6M
$118.2M
Loss on disposal of Barstool
$0
$0
$923.2M
—
Total operating expenses
$7.6B
$6.5B
$7.1B
$5.4B
Operating income (loss)
($673.6M)
$72.5M
($690.2M)
$974.0M
Interest expense, net
($405.8M)
($470.5M)
($464.7M)
($758.2M)
Interest income
$9.7M
$23.6M
$40.3M
$18.3M
Income from unconsolidated affiliates
$37.7M
$28.1M
$25.3M
$23.7M
Gain on Barstool Acquisition, net
$0
$0
$83.4M
—
Gain on REIT transactions, net
$3.3M
$0
$500.8M
—
Gain on financing arrangement
$215.1M
—
—
—
Loss on early extinguishment of debt
($11.8M)
($300.0K)
$0
($10.4M)
Other
$4.7M
$5.3M
$5.5M
($72.1M)
Total other income (expenses)
($147.1M)
($413.8M)
$190.6M
($798.7M)
Loss before income taxes
($820.7M)
($341.3M)
($499.6M)
$175.3M
Income tax benefit (expense)
($24.6M)
$28.0M
$8.2M
$46.4M
Net loss
($845.3M)
($313.3M)
($491.4M)
$221.7M
Net loss attributable to non-controlling interest
$2.2M
$1.8M
$1.4M
$400.0K
Net loss attributable to PENN Entertainment, Inc.
($843.1M)
($311.5M)
($490.0M)
$222.1M
Basic loss per share (in dollars per share)
-$5.83
-$2.05
-$3.22
$1.37
Diluted loss per share (in dollars per share)
-$5.83
-$2.05
-$3.22
$1.29
Weighted-average common shares outstanding - basic (in shares)
144.6M
152.1M
152.1M
161.2M
Weighted-average common shares outstanding - diluted (in shares)
144.6M
152.1M
152.1M
176.6M
PENN Entertainment Inc. income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Total revenues
$1.9B
$1.8B
$1.7B
$1.8B
Cost of revenue
$1.2B
$1.1B
$1.1B
$1.2B
General and administrative
$441.0M
$427.7M
$417.9M
$410.3M
Depreciation and amortization
$117.8M
$117.0M
$114.2M
$110.5M
Impairment loss
$0
—
$825.0M
$15.0M
Total operating expenses
$1.7B
$1.7B
$2.5B
$1.7B
Operating income
$131.7M
$97.1M
($776.4M)
$77.5M
Interest expense, net
($100.9M)
($101.0M)
($97.2M)
($95.9M)
Interest income
$2.0M
$1.9M
$2.3M
$2.1M
Income from unconsolidated affiliates
$8.6M
$8.3M
$8.2M
$13.3M
Gain on financing arrangement
$0
$0
$0
$0
Loss on early extinguishment of debt
($1.8M)
—
$0
($11.8M)
Other
$100.0K
($400.0K)
$0
$2.9M
Total other income (expenses)
($92.0M)
($91.2M)
($83.4M)
($89.4M)
Income (loss) before income taxes
$39.7M
$5.9M
($859.8M)
($11.9M)
Income tax expense
($7.1M)
($8.7M)
($5.3M)
($6.4M)
Net income (loss)
$32.6M
($2.8M)
($865.1M)
($18.3M)
Net loss attributable to non-controlling interest
$500.0K
$500.0K
$500.0K
$900.0K
Net income (loss) attributable to PENN Entertainment, Inc.
$33.1M
($2.3M)
($864.6M)
($17.4M)
Basic earnings (loss) per share (in dollars per share)
$0.25
-$0.02
-$6.03
-$0.12
Diluted earnings (loss) per share (in dollars per share)
$0.24
-$0.02
-$6.03
-$0.12
Weighted-average common shares outstanding - basic (in shares)
133.7M
133.4M
143.5M
149.0M
Weighted-average common shares outstanding - diluted (in shares)
137.1M
133.4M
143.5M
149.0M
Balance sheet
PENN Entertainment Inc. balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and cash equivalents
$686.6M
$706.6M
$1.1B
$1.6B
Accounts receivable, net
$254.2M
$256.8M
$319.0M
$246.4M
Prepaid expenses
$151.7M
$152.3M
$225.6M
$106.1M
Other current assets
$73.6M
$38.7M
$42.6M
$36.9M
Total current assets
$1.2B
$1.2B
$1.7B
$2.0B
Property and equipment, net
$3.7B
$3.7B
$3.5B
$4.5B
Investment in and advances to unconsolidated affiliates
$79.4M
$86.2M
$84.9M
$248.6M
Goodwill
$1.8B
$2.6B
$2.7B
$2.7B
Other intangible assets, net
$1.4B
$1.5B
$1.6B
$1.7B
Operating lease right-of-use assets
$4.0B
$4.0B
—
$6.1B
Finance lease right-of-use assets
$1.9B
$2.0B
—
—
Other assets
$223.9M
$232.0M
$187.3M
$192.9M
Total assets
$14.3B
$15.3B
$16.1B
$17.5B
Accounts payable
$54.2M
$50.8M
$36.6M
$40.1M
Current maturities of long-term debt
$38.2M
$38.2M
$47.6M
$56.2M
Current portion of financing obligations
$45.8M
$43.5M
$41.3M
$63.4M
Current portion of operating lease liabilities
$386.0M
$322.1M
—
—
Current portion of finance lease liabilities
$45.7M
$53.2M
—
—
Accrued expenses and other current liabilities
$905.6M
$907.3M
$1.0B
$804.7M
Total current liabilities
$1.5B
$1.4B
$1.5B
$1.2B
Long-term debt, net of current maturities, debt discount, and debt issuance costs
$2.8B
$2.7B
$2.7B
$2.7B
Long-term portion of financing obligations
$2.3B
$2.3B
$2.4B
$4.0B
Long-term portion of operating lease liabilities
$3.6B
$3.7B
—
—
Long-term portion of finance lease liabilities
$2.0B
$2.1B
—
—
Deferred income taxes
$87.8M
$61.0M
$117.6M
$33.9M
Other long-term liabilities
$121.2M
$135.0M
$146.3M
$117.9M
Total liabilities
$12.4B
$12.4B
$12.9B
$13.9B
Preferred stock
$0
$0
$0
$19.4M
Common stock
$1.8M
$1.8M
$1.8M
$1.7M
Treasury stock, at cost, (45,257,733 and 25,166,902)
($1.1B)
($779.5M)
($779.5M)
($629.5M)
Additional paid-in capital
$4.7B
$4.5B
$4.4B
$4.2B
Accumulated deficit
($1.5B)
($647.0M)
($335.5M)
$154.5M
Accumulated other comprehensive loss
($193.3M)
($255.0M)
($121.3M)
($168.6M)
Total PENN Entertainment, Inc. stockholders’ equity
$1.8B
$2.9B
$3.2B
$3.6B
Non-controlling interest
($6.5M)
($4.3M)
($2.5M)
($1.1M)
Total stockholders’ equity
$1.8B
$2.9B
$3.2B
$3.6B
Total liabilities and stockholders’ equity
$14.3B
$15.3B
$16.1B
$17.5B
Treasury stock, shares (in shares)
45.3M
—
—
—
PENN Entertainment Inc. balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Cash and cash equivalents
$887.2M
$708.0M
$660.1M
$671.6M
Accounts receivable, net
$245.9M
$241.0M
$231.0M
$252.1M
Prepaid expenses
$139.0M
$151.5M
$141.5M
$122.3M
Other current assets
$51.7M
$60.3M
$55.1M
$49.6M
Total current assets
$1.3B
$1.2B
$1.1B
$1.1B
Property and equipment, net
$3.5B
$3.7B
$3.8B
$3.8B
Investment in and advances to unconsolidated affiliates
$78.8M
$79.1M
$80.4M
$82.4M
Goodwill
$1.8B
$1.8B
$1.8B
$2.6B
Other intangible assets, net
$1.4B
$1.4B
$1.5B
$1.5B
Operating lease right-of-use assets
$3.9B
$3.9B
$3.9B
$3.8B
Finance lease right-of-use assets
$1.9B
$1.9B
$1.9B
$2.0B
Other assets
$229.8M
$213.3M
$227.4M
$229.3M
Total assets
$14.1B
$14.1B
$14.3B
$15.2B
Accounts payable
$62.4M
$71.0M
$69.7M
$64.8M
Current maturities of long-term debt
$33.1M
$38.3M
$38.2M
$38.2M
Current portion of financing obligations
$46.9M
$46.3M
$45.2M
$44.6M
Current portion of operating lease liabilities
$419.5M
$394.2M
$372.7M
$343.4M
Current portion of finance lease liabilities
$54.8M
$42.5M
$49.0M
$52.1M
Accrued expenses and other current liabilities
$878.7M
$824.1M
$867.9M
$849.8M
Total current liabilities
$1.5B
$1.4B
$1.4B
$1.4B
Long-term debt, net of current maturities, debt discounts, and debt issuance costs
$2.7B
$2.9B
$2.8B
$2.8B
Long-term portion of financing obligations
$2.3B
$2.3B
$2.3B
$2.3B
Long-term portion of operating lease liabilities
$3.5B
$3.5B
$3.5B
$3.5B
Long-term portion of finance lease liabilities
$2.0B
$2.0B
$2.0B
$2.0B
Deferred income taxes
$110.7M
$94.0M
$117.3M
$82.9M
Other long-term liabilities
$101.4M
$114.4M
$130.0M
$131.7M
Total liabilities
$12.2B
$12.3B
$12.4B
$12.2B
Preferred stock
$0
$0
$0
$0
Common stock
$1.8M
$1.8M
$1.8M
$1.8M
Treasury stock, at cost (45,257,733 shares in both periods)
-1.1B
-1.1B
-1.1B
-895.8M
Additional paid-in capital
$4.7B
$4.7B
$4.6B
$4.6B
Accumulated deficit
($1.5B)
($1.5B)
($1.4B)
($552.6M)
Accumulated other comprehensive loss
($220.7M)
($203.7M)
($201.2M)
($163.0M)
Total PENN Entertainment, Inc. stockholders’ equity
$1.9B
$1.8B
$2.0B
$3.0B
Non-controlling interest
($7.5M)
($7.0M)
($6.0M)
($5.5M)
Total stockholders’ equity
$1.9B
$1.8B
$2.0B
$3.0B
Total liabilities and stockholders’ equity
$14.1B
$14.1B
$14.3B
$15.2B
Cash flow statement
PENN Entertainment Inc. cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net loss
($845.3M)
($313.3M)
($491.4M)
$221.7M
Depreciation and amortization
$446.9M
$433.6M
$435.1M
$567.5M
Amortization of debt discount and debt issuance costs
$8.3M
$8.7M
$8.1M
$9.0M
Noncash interest expense
$14.3M
$47.1M
$36.1M
$27.6M
Noncash operating lease expense
$372.4M
$316.6M
$305.5M
$87.5M
Gain on Barstool Acquisition, net
$0
$0
($83.4M)
—
Gain on REIT transactions, net
($3.3M)
$0
($500.8M)
—
Loss on disposal of Barstool
$0
$0
$923.2M
—
Loss on sale or disposal of property and equipment
$400.0K
$10.0M
$100.0K
$7.9M
Income from unconsolidated affiliates
($37.7M)
($28.1M)
($25.3M)
($23.7M)
Return on investment from unconsolidated affiliates
$37.4M
$33.4M
$33.3M
$33.8M
Deferred income taxes
$26.9M
($58.1M)
($32.7M)
($150.7M)
Stock-based compensation
$60.9M
$52.9M
$85.9M
$58.1M
Investment Agreement warrant expense
$57.1M
$67.9M
$12.5M
—
Impairment losses
$945.3M
$89.1M
$130.6M
$118.2M
Gain on financing arrangement
($215.1M)
—
—
—
Loss on early extinguishment of debt
$11.8M
$300.0K
$0
$10.4M
Accounts receivable
$1.6M
$58.9M
($74.8M)
($81.2M)
Prepaid expenses and other current assets
($19.0M)
$26.7M
($66.3M)
($24.1M)
Other assets
($12.1M)
($35.7M)
($18.2M)
($2.2M)
Accounts payable
($2.4M)
$14.2M
($8.6M)
($13.4M)
Accrued expenses
$18.0M
($67.7M)
$25.9M
$17.4M
Income taxes
($3.8M)
$33.4M
($50.2M)
$27.3M
Operating lease liabilities
($356.6M)
($298.2M)
($305.8M)
($83.0M)
Other current and long-term liabilities
($23.9M)
($48.4M)
$107.4M
($2.2M)
Other
$26.1M
$21.4M
$17.2M
$13.1M
Net cash provided by operating activities
$508.2M
$359.3M
$455.9M
$878.2M
Capital expenditures
($647.7M)
($482.7M)
($360.0M)
($263.4M)
Proceeds from sale-and-leaseback transactions in conjunction with development projects
$280.0M
—
—
—
Sale of Barstool Sports, net of cash
$0
$0
—
—
Consideration paid for acquisitions of businesses, net of cash acquired
$0
$0
($314.6M)
$0
Consideration paid for gaming licenses and other intangible assets
($37.7M)
($57.9M)
($21.9M)
($9.0M)
Other
$54.3M
($8.1M)
($12.7M)
($1.5M)
Net cash used in investing activities
($351.1M)
($541.2M)
($742.6M)
($258.6M)
Proceeds from revolving credit facility
$877.5M
—
—
$0
Repayments on revolving credit facility
($307.5M)
—
—
$0
Repurchases of convertible debt
($223.8M)
—
—
—
Principal payments on long-term debt
($37.5M)
($37.5M)
($37.5M)
($39.3M)
Payments of other long-term obligations
($700.0K)
($10.1M)
($18.7M)
($17.8M)
Principal payments on financing obligations
($43.5M)
($40.8M)
($39.2M)
($63.2M)
Principal payments on finance leases
($53.4M)
($50.3M)
($47.1M)
($110.5M)
Repurchases of common stock
($354.4M)
$0
($149.8M)
($601.1M)
Proceeds from insurance financing
$26.8M
$29.3M
$34.4M
$0
Payments on insurance financing
($31.1M)
($35.4M)
$0
$0
Indemnification payments
$0
($30.5M)
—
—
PENN Entertainment Inc. cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Net income
$29.8M
($2.8M)
($771.9M)
$93.2M
Depreciation and amortization
$234.8M
$117.0M
$332.7M
$218.5M
Non-cash operating lease expense
$199.4M
$97.1M
$266.0M
$168.1M
Income from unconsolidated affiliates
($16.9M)
($8.3M)
($29.1M)
($20.9M)
Return on investment from unconsolidated affiliates
$17.8M
$8.8M
$28.5M
$18.0M
Deferred income taxes
$23.7M
$6.5M
$55.5M
$20.5M
Stock-based compensation
$31.5M
$14.1M
$48.5M
$31.7M
Investment Agreement warrant expense
$0
$0
$43.0M
$28.5M
Impairment loss
$0
—
$840.0M
$15.0M
Gain on financing arrangement
$0
$0
($215.1M)
($215.1M)
Loss on early extinguishment of debt
$1.8M
—
$11.8M
$11.8M
Accounts receivable
$7.2M
$12.7M
$24.3M
$3.8M
Prepaid expenses and other current assets
$18.3M
$3.0M
$11.8M
$4.3M
Other assets
($12.6M)
$5.7M
($13.8M)
($15.4M)
Accounts payable
$9.7M
$14.1M
$7.5M
$1.9M
Accrued expenses
($3.5M)
($58.6M)
$1.0M
($9.3M)
Income taxes
$18.2M
$19.0M
($2.1M)
$27.3M
Operating lease liabilities
($190.9M)
($92.9M)
($254.6M)
($158.6M)
Other current and long-term liabilities
($19.6M)
($22.8M)
($17.5M)
($34.6M)
Other
$14.4M
$7.7M
$23.6M
$17.3M
Net cash provided by operating activities
$363.1M
$122.4M
$401.0M
$220.1M
Capital expenditures
($192.0M)
($94.6M)
($457.3M)
($284.6M)
Proceeds from sale-and-leaseback transactions in conjunction with development projects
$216.3M
—
$130.0M
—
Proceeds from sale of investments
$0
—
$17.8M
$17.8M
Consideration paid for gaming licenses and other intangible assets
($20.5M)
—
($29.3M)
($20.1M)
Other
$23.6M
$9.9M
$35.5M
$14.4M
Net cash provided by (used in) investing activities
$27.4M
($84.7M)
($303.3M)
($272.5M)
Proceeds from revolving credit facility
$235.0M
$125.0M
$727.5M
$567.5M
Repayments of revolving credit facility
($805.0M)
($670.0M)
($217.5M)
($100.0M)
Proceeds from issuance of term loans, net of discount
$1.4B
—
—
—
Proceeds from issuance of bonds
$600.0M
—
—
—
Repayments on credit facilities
($1.4B)
—
—
—
Repayment and repurchases of convertible debt
($106.7M)
—
($223.8M)
($223.8M)
Principal payments on long-term debt
($11.9M)
($9.4M)
($28.2M)
($18.8M)
Debt issuance costs
($26.6M)
($10.3M)
—
—
Principal payments on financing obligations
($22.6M)
($11.2M)
($32.4M)
($21.5M)
Principal payments on finance leases
($27.6M)
($13.9M)
($39.8M)
($26.7M)
Repurchases of common stock
$0
$0
($269.4M)
($115.3M)
Proceeds from insurance financing
$7.2M
—
—
—
Payments on insurance financing
($17.1M)
($9.4M)
($27.1M)
($16.8M)
Other
($8.4M)
($7.8M)
($18.3M)
($16.3M)
Net cash provided by (used in) financing activities
($186.1M)
($7.0M)
($129.0M)
$28.3M
Effect of currency rate changes on cash, cash equivalents, and restricted cash
($1.7M)
($800.0K)
($400.0K)
$800.0K
Change in cash, cash equivalents, and restricted cash
$202.7M
$29.9M
($31.7M)
($23.3M)
Cash, cash equivalents, and restricted cash at the beginning of the year