회사 개요
Caesars Entertainment, Inc. operates as a prominent gaming and hospitality entity that owns, leases, brands, or manages domestic properties across 18 states, offering slot machines, video lottery terminals, e-tables, hotel rooms, and table games including poker. The company is situated within the Consumer Cyclical sector, specifically under the Resorts & Casinos industry, positioning it as a direct beneficiary of discretionary consumer spending and tourism trends. Its current market capitalization stands at $5.40B, while annual revenue (TTM) reaches $11.49B, supported by a workforce of 50,000 employees. These financial figures indicate that Caesars maintains a substantial operational footprint with significant revenue generation capabilities, reflecting its status as a major player in the competitive casino landscape despite the cyclical nature of its sector.
재무 건전성
The company reported a revenue of $11.49B over the trailing twelve months, yet it recorded a net income of -$502,000,000, a disparity that reveals a cost structure where operating expenses, including cost of goods sold and overhead, significantly eroded profitability despite high gross sales. In contrast to the net loss, the company generated an EBITDA of $3.50B, highlighting the operational cash generation before interest, taxes, depreciation, and amortization, which serves as a key metric for assessing underlying business performance. Free cash flow stands at $693.25M, indicating that the company retains substantial liquidity after capital expenditures, which provides financial flexibility for operational needs or strategic initiatives. The margins present a mixed picture: a Gross Margin of 50.0% suggests efficient cost control relative to sales, an Operating Margin of 18.9% reflects healthy operational leverage before interest and taxes, but a Profit Margin of -4.4% confirms that interest and other expenses have driven the bottom line negative. Liquidity analysis shows a Current Ratio of 0.80, indicating that current assets fall short of current liabilities, which suggests potential pressure on short-term liquidity management. Regarding capital structure, total cash of $887.00M is heavily outweighed by total debt of $25.62B, resulting in a Debt to Equity ratio of 695.12, which characterizes the balance sheet as highly leveraged rather than conservative. Return on Equity is -10.8%, signaling that equity holders have seen value destruction in the period, while Return on Assets stands at 4.0%, suggesting the asset base is generating modest returns relative to the total capital employed.
밸류에이션 평가
Valuation metrics show a Trailing P/E Ratio (TTM) as N/A due to the net loss, whereas the Forward P/E is 22.55, implying that the market is pricing in significant expected earnings recovery or growth over the coming year to justify the multiple. The Price to Book ratio is 1.53, indicating that the market values the company at a 53% premium over its net tangible assets, suggesting investors expect future earnings normalization or asset appreciation. Alternative valuation measures include a Price to Sales ratio of 0.47 and an EV/EBITDA of 8.67, which suggest the stock is valued at a discount relative to its sales scale and operational earnings power compared to peers with positive profitability. The 52-week trading range spans from a low of $17.86 to a high of $31.58, providing a context for current price volatility and historical performance bounds. With a Beta of 1.88, the stock exhibits high price volatility relative to the broader market, meaning it is expected to move with greater magnitude than the overall index during periods of market fluctuation.
Growth & Income
Revenue growth over the last year was 4.2%, while earnings growth (YoY) is N/A due to the current period's net loss, indicating that top-line sales are expanding but have not yet translated into bottom-line profitability. As a non-dividend payer, the company reports a Dividend Yield of N/A and a Payout Ratio of 0.0%, meaning the company retains all earnings rather than distributing them to shareholders. This reinvestment strategy is consistent with firms in turnaround phases or those with high debt obligations that prioritize balance sheet strengthening over shareholder payouts. The overall growth and income profile reflects a company currently prioritizing operational recovery and debt management over immediate income generation for investors, with revenue expanding modestly but earnings remaining suppressed.