Penn National Gaming Inc (PENN) - Net Assets
Based on the latest financial reports, Penn National Gaming Inc (PENN) has net assets worth $1.83 Billion USD as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($14.27 Billion) and total liabilities ($12.44 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check Penn National Gaming Inc asset resilience ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $1.83 Billion |
| % of Total Assets | 12.81% |
| Annual Growth Rate | 21.71% |
| 5-Year Change | -55.4% |
| 10-Year Change | N/A |
| Growth Volatility | 89.9 |
Penn National Gaming Inc - Net Assets Trend (1993–2025)
This chart illustrates how Penn National Gaming Inc's net assets have evolved over time, based on quarterly financial data. Also explore PENN total asset value for the complete picture of this company's asset base.
Annual Net Assets for Penn National Gaming Inc (1993–2025)
The table below shows the annual net assets of Penn National Gaming Inc from 1993 to 2025. For live valuation and market cap data, see Penn National Gaming Inc (PENN) market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $1.83 Billion | -36.07% |
| 2024-12-31 | $2.86 Billion | -10.66% |
| 2023-12-31 | $3.20 Billion | -11.04% |
| 2022-12-31 | $3.60 Billion | -12.22% |
| 2021-12-31 | $4.10 Billion | +54.27% |
| 2020-12-31 | $2.66 Billion | +43.41% |
| 2019-12-31 | $1.85 Billion | +153.26% |
| 2018-12-31 | $731.22 Million | +1099.67% |
| 2017-12-31 | $-73.15 Million | +86.54% |
| 2016-12-31 | $-543.32 Million | +19.87% |
| 2015-12-31 | $-678.04 Million | -222.28% |
| 2014-12-31 | $554.49 Million | -26.89% |
| 2013-12-31 | $758.40 Million | -66.31% |
| 2012-12-31 | $2.25 Billion | +14.17% |
| 2011-12-31 | $1.97 Billion | +10.90% |
| 2010-12-31 | $1.78 Billion | -4.01% |
| 2009-12-31 | $1.85 Billion | -9.97% |
| 2008-12-31 | $2.06 Billion | +83.53% |
| 2007-12-31 | $1.12 Billion | +21.69% |
| 2006-12-31 | $921.16 Million | +68.54% |
| 2005-12-31 | $546.54 Million | +37.29% |
| 2004-12-31 | $398.09 Million | +28.47% |
| 2003-12-31 | $309.88 Million | +25.46% |
| 2002-12-31 | $247.00 Million | +139.19% |
| 2001-12-31 | $103.27 Million | +30.35% |
| 2000-12-31 | $79.22 Million | +19.49% |
| 1999-12-31 | $66.30 Million | +12.37% |
| 1998-12-31 | $59.00 Million | +9.46% |
| 1997-12-31 | $53.90 Million | +93.19% |
| 1996-12-31 | $27.90 Million | +34.13% |
| 1995-12-31 | $20.80 Million | +33.33% |
| 1994-12-31 | $15.60 Million | +358.82% |
| 1993-12-31 | $3.40 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Penn National Gaming Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 43926.5% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $1.80 Million | 0.10% |
| Other Comprehensive Income | $-193.30 Million | -10.54% |
| Other Components | $3.52 Billion | 191.69% |
| Total Equity | $1.83 Billion | 100.00% |
Penn National Gaming Inc Competitors by Market Cap
The table below lists competitors of Penn National Gaming Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Archi Indonesia Tbk PT
JK:ARCI
|
$2.05 Billion |
|
Perdoceo Education Corp
NASDAQ:PRDO
|
$2.05 Billion |
|
Bestway Marine & Energy Technology Co Ltd
SHE:300008
|
$2.05 Billion |
|
ZAI LAB LTD0000006
F:1ZLB
|
$2.05 Billion |
|
Oesterr. Post AG
VI:POST
|
$2.05 Billion |
|
J.Pond Precision Technology Co. Ltd. A
SHE:301326
|
$2.05 Billion |
|
H&R Real Estate Investment Trust
TO:HR-UN
|
$2.05 Billion |
|
Hunan Nanling Industrial Explosive Materials Co Ltd
SHE:002096
|
$2.05 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Penn National Gaming Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 2,862,700,000 to 1,834,000,000, a change of -1,028,700,000 (-35.9%).
- Net loss of 843,100,000 reduced equity.
- Share repurchases of 354,400,000 reduced equity.
- Other comprehensive income increased equity by 61,700,000.
- Other factors increased equity by 107,100,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $-843.10 Million | -45.97% |
| Share Repurchases | $354.40 Million | -19.32% |
| Other Comprehensive Income | $61.70 Million | +3.36% |
| Other Changes | $107.10 Million | +5.84% |
| Total Change | $- | -35.93% |
Book Value vs Market Value Analysis
This analysis compares Penn National Gaming Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.32x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 179.04x to 1.32x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1993-12-31 | $0.09 | $16.74 | x |
| 1994-12-31 | $0.31 | $16.74 | x |
| 1995-12-31 | $0.41 | $16.74 | x |
| 1996-12-31 | $0.50 | $16.74 | x |
| 1997-12-31 | $0.88 | $16.74 | x |
| 1998-12-31 | $0.96 | $16.74 | x |
| 1999-12-31 | $1.08 | $16.74 | x |
| 2000-12-31 | $1.26 | $16.74 | x |
| 2001-12-31 | $1.62 | $16.74 | x |
| 2002-12-31 | $3.12 | $16.74 | x |
| 2003-12-31 | $3.79 | $16.74 | x |
| 2004-12-31 | $4.79 | $16.74 | x |
| 2005-12-31 | $6.37 | $16.74 | x |
| 2006-12-31 | $10.65 | $16.74 | x |
| 2007-12-31 | $12.68 | $16.74 | x |
| 2008-12-31 | $24.34 | $16.74 | x |
| 2009-12-31 | $23.71 | $16.74 | x |
| 2010-12-31 | $22.77 | $16.74 | x |
| 2011-12-31 | $18.42 | $16.74 | x |
| 2012-12-31 | $21.68 | $16.74 | x |
| 2013-12-31 | $9.71 | $16.74 | x |
| 2014-12-31 | $7.07 | $16.74 | x |
| 2015-12-31 | $-7.46 | $16.74 | x |
| 2016-12-31 | $-5.94 | $16.74 | x |
| 2017-12-31 | $-0.78 | $16.74 | x |
| 2018-12-31 | $7.29 | $16.74 | x |
| 2019-12-31 | $15.73 | $16.74 | x |
| 2020-12-31 | $19.82 | $16.74 | x |
| 2021-12-31 | $23.35 | $16.74 | x |
| 2022-12-31 | $20.37 | $16.74 | x |
| 2023-12-31 | $21.05 | $16.74 | x |
| 2024-12-31 | $18.82 | $16.74 | x |
| 2025-12-31 | $12.68 | $16.74 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Penn National Gaming Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -45.97%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -12.11%
- • Asset Turnover: 0.49x
- • Equity Multiplier: 7.78x
- Recent ROE (-45.97%) is below the historical average (2.07%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1993 | 38.24% | 3.08% | 2.29x | 5.41x | $960.00K |
| 1994 | 17.95% | 6.09% | 2.10x | 1.40x | $1.24 Million |
| 1995 | 24.04% | 8.67% | 2.10x | 1.32x | $2.92 Million |
| 1996 | 19.71% | 8.76% | 0.65x | 3.47x | $2.71 Million |
| 1997 | 4.27% | 2.06% | 0.70x | 2.95x | $-3.09 Million |
| 1998 | 12.71% | 4.87% | 0.96x | 2.73x | $1.60 Million |
| 1999 | 10.11% | 3.91% | 0.90x | 2.87x | $70.00K |
| 2000 | 15.14% | 4.08% | 0.67x | 5.55x | $4.07 Million |
| 2001 | 23.01% | 4.57% | 0.76x | 6.58x | $13.43 Million |
| 2002 | 12.50% | 4.69% | 0.86x | 3.10x | $6.16 Million |
| 2003 | 16.61% | 4.43% | 0.72x | 5.19x | $20.48 Million |
| 2004 | 17.96% | 6.27% | 0.69x | 4.13x | $31.67 Million |
| 2005 | 22.13% | 8.56% | 0.34x | 7.67x | $66.28 Million |
| 2006 | 35.51% | 13.91% | 0.52x | 4.90x | $234.97 Million |
| 2007 | 14.28% | 6.57% | 0.49x | 4.43x | $47.96 Million |
| 2008 | -7.45% | -6.33% | 0.47x | 2.52x | $-359.05 Million |
| 2009 | -14.30% | -11.18% | 0.50x | 2.54x | $-450.21 Million |
| 2010 | -3.35% | -2.42% | 0.55x | 2.51x | $-237.24 Million |
| 2011 | 12.29% | 8.84% | 0.60x | 2.34x | $45.19 Million |
| 2012 | 9.42% | 7.31% | 0.51x | 2.51x | $-13.12 Million |
| 2013 | -104.74% | -27.22% | 1.34x | 2.88x | $-870.18 Million |
| 2014 | -42.06% | -9.00% | 1.16x | 4.03x | $-288.64 Million |
| 2015 | 0.00% | 0.02% | 0.55x | 0.00x | $68.49 Million |
| 2016 | 0.00% | 3.60% | 0.61x | 0.00x | $163.64 Million |
| 2017 | 0.00% | 15.97% | 0.60x | 0.00x | $510.17 Million |
| 2018 | 12.79% | 2.61% | 0.33x | 14.99x | $20.39 Million |
| 2019 | 2.37% | 0.83% | 0.37x | 7.66x | $-141.37 Million |
| 2020 | -25.21% | -18.71% | 0.24x | 5.52x | $-935.12 Million |
| 2021 | 10.27% | 7.13% | 0.35x | 4.12x | $11.02 Million |
| 2022 | 6.17% | 3.47% | 0.37x | 4.86x | $-137.67 Million |
| 2023 | -15.30% | -7.70% | 0.40x | 5.02x | $-810.21 Million |
| 2024 | -10.88% | -4.74% | 0.43x | 5.33x | $-597.77 Million |
| 2025 | -45.97% | -12.11% | 0.49x | 7.78x | $-1.03 Billion |
Industry Comparison
This section compares Penn National Gaming Inc's net assets metrics with peer companies in the Resorts & Casinos industry.
Industry Context
- Industry: Resorts & Casinos
- Average net assets among peers: $800,129,642
- Average return on equity (ROE) among peers: 4.92%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Penn National Gaming Inc (PENN) | $1.83 Billion | 38.24% | 6.81x | $2.05 Billion |
| Bally's Corp (BALY) | $176.80 Million | 35.21% | 3.06x | $631.24 Million |
| Boyd Gaming Corporation (BYD) | $1.59 Billion | 40.20% | 2.97x | $6.45 Billion |
| Century Casinos Inc (CNTY) | $187.32 Million | 3.34% | 0.47x | $42.94 Million |
| Canterbury Park Holding Corporation (CPHC) | $26.55 Million | -3.74% | 0.23x | $80.67 Million |
| Caesars Entertainment Corporation (CZR) | $4.54 Billion | -22.44% | 7.38x | $3.95 Billion |
| Full House Resorts Inc (FLL) | $9.90 Million | -15.15% | 0.40x | $88.50 Million |
| Golden Entertainment Inc (GDEN) | $109.98 Million | -12.58% | 0.15x | $740.46 Million |
| Hilton Grand Vacations Inc (HGV) | $-373.00 Million | 0.00% | 0.00x | $4.07 Billion |
| Las Vegas Sands Corp (LVS) | $1.61 Billion | 17.63% | 1.41x | $35.24 Billion |
| Monarch Casino & Resort Inc (MCRI) | $122.58 Million | 6.72% | 0.47x | $1.70 Billion |
About Penn National Gaming Inc
PENN Entertainment, Inc., together with its subsidiaries, provides integrated entertainment, sports content, and casino gaming experiences in the United States and internationally. The company operates through five segments: Northeast, South, West, Midwest, and Interactive. It operates a portfolio of casinos, racetracks, and online sports betting; online gaming portfolio, such as theScore Bet, an… Read more