Macroeconomic conditionsmixed · 4 filings
“Key Performance Indicators In our business, revenue is driven by discretionary consumer spending.”10-Q · Apr 29, 2026 ↗
PENN Entertainment, Inc.
PENN
Market read
PENN Entertainment, Inc.'s current read is isolated; its market group is not confirming.
No new filing conclusion is available. 0 of 18 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 20 directly disclosed connections are confirming.
Company+4.3% todayVolume comparison unavailable
Market group0 of 18 activeDigital Services & Software · unavailable
Disclosed network0 of 8 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- PENN's market-adjusted activity becomes unusual and at least one connected name confirms.
Invalidation: The isolated read changes if PENN's group or a disclosed connection begins moving with it.
Research brief
The story so far
No new filing conclusion is available. 0 of 18 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 20 directly disclosed connections are confirming.
Evidence that supports
No thresholded supportive filing evidence is available yet.
Evidence that challenges
No thresholded adverse filing evidence is available yet.
What would clarify the read
- PENN's market-adjusted activity becomes unusual and at least one connected name confirms.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods9
Price observations320
Usable filing statements92
Verified relationships14
Evidence supporting the case
- Latest annual revenue changed +5.8% year over year.
Evidence challenging the case
- Operating margin changed -10.8 percentage points in the latest annual period.
- Net margin changed -7.4 percentage points in the latest annual period.
Questions before a position
- EV/sales is 65% below the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context
Price as of Sep 11, 2026
17.836m+20.1%12m-11.6%24m—
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2021-12-31$5.9B+65.0%$2.48+31.0%
2022-12-31$6.4B+8.4%$1.29+0.6%
2023-12-31$6.4B-0.6%$-3.22-13.9%
2024-12-31$6.6B+3.4%$-2.05+0.0%
2025-12-31$7.0B+5.8%$-5.83-4.9%
What management says matters
Persistent and emerging business drivers
Restructuring and cost reductionsmixed · 4 filings
“The increase was primarily due to settlement costs and related legal and advisory fees associated with the Cooperation Agreement with HG Vora Capital Management, LLC and related parties, as well as non-recurring restructuring charges (primarily severance) rel…”10-Q · Apr 29, 2026 ↗
Credit and interest ratesnegative · 3 filings
“Financing Cash Flow For the three months ended March 31, 2026, net cash used in financing activities totaled $7.0 million, primarily related to net payments of $545.0 million on our revolving credit facility, principal payments of $25.1 million on our finance…”10-Q · Apr 29, 2026 ↗
Input and raw-material costsmixed · 3 filings
“A djusted EBITDAR margin decreased to 38.8%, primarily due to the increases in gaming taxes, labor costs, and marketing expenses.”10-Q · Apr 29, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 0.4× · EV/sales 0.7×. Comparisons use only industry-matched filing peers.
Scenario scaffold
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
17.83+4.3% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for PENN. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for PENN. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind PENN
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
CHHChoice Hotels International, Inc.partnerApr 29, 2026 ▾
“We seek to grow our customer database and PENN Play loyalty program through our iCasino and OSB businesses, the development of new properties, the expansion of existing properties and other business lines, and through partnerships with third-party partners, s…”
LYVLive Nation Entertainment, Inc.partnerApr 29, 2026 ▾
“We seek to grow our customer database and PENN Play loyalty program through our iCasino and OSB businesses, the development of new properties, the expansion of existing properties and other business lines, and through partnerships with third-party partners, s…”
Depended on by
CABACabaletta Bio, Inc.supplierNov 10, 2025 ▾
“For supply of lentiviral vector for the clinical and commercial manufacturing of rese-cel, we are currently working with Oxford Biomedica (UK) Limited, or Oxford, where we are advancing BLA readiness activities, and have previously manufactured lentiviral vec…”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 17 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
PENN is currently a Follower in the organic co-movement group Digital Services & Software. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for PENN; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.