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Penn Entertainment (PENN) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Penn Entertainment (PENN) Q3 2026 earnings results →
Q3 2026 Revenue up 7% year over year to $1.8B · 2¢ of every $1 of revenue kept as net profit · operating margin 6.9%
Penn Entertainment made $1.8B in Q3 2026 (+7% Y/Y): Gaming $1.4B, Food, beverage, hotel, and other $469M. Operating margin 6.9%, net earnings $32.6M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $1.8B in Q3 2026, up 7% year over year and down 1% from the previous quarter. Gaming was the largest line at 75% of revenue. Other added $0.06B year over year (up 26%), 45% of the total change.
Operating profit was $0.13B, a 6.9% margin (up 52.1 points year over year). Total costs fell 31% while revenue rose 7%. Net earnings were $0.03B. The effective tax rate was 5.0%.
Operating cash flow was $0.26B (up 46% year over year), 808% of net earnings. Non-cash charges added back $0.12B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items added $0.09B. Capital expenditures of $0.06B left free cash flow of $0.20B.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 5, 2026 | $1.8B | +7% | 6.9% | $32.6M | $263M |
| Q2 2026 | 10-Q | Aug 6, 2026 | $1.9B | +5% | 7.1% | $32.6M | $241M |
| Q1 2026 | 10-Q | Apr 29, 2026 | $1.8B | +6% | 5.5% | −$2.8M | $122M |
| Q4 2025 | 10-K | Feb 26, 2026 | $1.8B | +8% | -1.0% | −$73.4M | $107M |
| Q3 2025 | 10-Q | Nov 6, 2025 | $1.7B | +5% | -45.2% | −$865M | $181M |
| Q2 2025 | 10-Q | Aug 7, 2025 | $1.8B | +6% | 4.4% | −$18.3M | $178M |
| Q1 2025 | 10-Q | May 12, 2025 | $1.7B | +4% | 2.6% | $112M | $41.9M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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Customers and suppliers named in filings
Buys from
- AAPL · Stated in 10-K (named, share not stated) · source
- GOOGL · Stated in 10-K (named, share not stated) · source
About Penn Entertainment
PENN Entertainment, Inc., together with its subsidiaries (“PENN,” the “Company,” “we,” “our,” or “us”), operates in 28 jurisdictions throughout North America, with a broadly diversified portfolio of casinos, racetracks, and online sports betting (“OSB”) and iCasino offerings. PENN’s focus is on organic cross-sell opportunities, reinforced by its market-leading retail casinos, sports media assets and technology, including a proprietary state-of-the-art, fully integrated digital sports betting and iCasino platform, and an in-house iCasino content studio. The Company’s portfolio is further bolstered by its industry-leading PENN Play TM customer loyalty program, offering its over 33 million members a unique set of rewards and experiences.
In its own words, from its 10-K, filed Feb 26, 2026.
Penn Entertainment against its Hotels & Motels peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +7% against the peers' median +2%. Operating margin: 6.9% against the peers' median 15.5%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| PENN Penn Entertainment | Q3 2026 | $1.8B | +7% | 6.9% |
| MAR Marriott International | Q3 2026 | $7.0B | +8% | 18.2% |
| MGM MGM Resorts International | Q3 2026 | $4.2B | -0.9% | 2.8% |
| HLT Hilton Worldwide Holdings | Q3 2026 | $3.3B | +7% | 27.3% |
| LVS Las Vegas Sands | Q3 2026 | $3.2B | -4% | 19.2% |
| CZR Caesars Entertainment | Q3 2026 | $2.9B | +2% | 15.5% |
| H Hyatt Hotels | Q3 2026 | $1.7B | -2% | 4.5% |
| WYNN Wynn Resorts | Q3 2026 | $1.7B | -8% | 10.6% |
| TNL Travel & Leisure | Q3 2026 | $1.1B | +6% | 17.7% |
Source: Penn Entertainment 10-Q on SEC EDGAR · CIK 921738 · Hotels & Motels
Guidance and outlook
13F: who owns PENN and who is buying
More on PENN
- How Penn Entertainment makes money: revenue by segment
- Penn Entertainment next earnings date and what analysts expect
- Penn Entertainment stock forecast, price target and fair value
- Who owns Penn Entertainment stock: holders, funds and Congress trades
- Penn Entertainment guidance and outlook
- Is Penn Entertainment a takeover target? LBO and rumors
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
- Penn Entertainment guidance history: guided vs reported
- Penn Entertainment operating margin by quarter
- Penn Entertainment net income by quarter
- Penn Entertainment free cash flow by quarter
- Penn Entertainment capital expenditures by quarter
- Penn Entertainment Gaming revenue by quarter
- Penn Entertainment Food, beverage, hotel, and other revenue by quarter