PENN Entertainment (PENN) Gross Margin (2017 - 2026)
PENN Entertainment's Gross Margin came in at 37.18% for Q2 2026, up 2.43 percentage points from 34.75% a year earlier and up 1.10 percentage points from the prior quarter.
Powered by 
Analysis
PENN Entertainment (PENN) Gross Margin (2017 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, PENN Entertainment reported Gross Margin of 34.55%, up 5.32 percentage points year-over-year; for FY2025, it was 33.17%, up 0.96 percentage points from FY2024.
- Gross Margin carries a five-year change of -14.07 percentage points (FY2020 to FY2025).
- Going back by year, Gross Margin was 32.21% in FY2024 (-4.20 pp), 36.41% in FY2023 (-6.18 pp), 42.59% in FY2022 (-3.37 pp) and 45.96% in FY2021 (-1.28 pp).
- The Q2 2026 figure represents the highest quarterly Gross Margin since Q2 2023.
- Year-over-year, Gross Margin has increased for three consecutive quarters, with an average year-over-year change of +3.83 percentage points over the last eight quarters.
- The fastest year-over-year change in Gross Margin over five years came in Q1 2022 (a gain of 37.57 percentage points), and the weakest in Q4 2023 (a drop of 20.02 percentage points).
- Business Quant data shows PENN's Gross Margin at 36.07% (Q1 2026), 31.06% (Q4 2025) and 33.81% (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Las Vegas Sands | 24.50 Bn | 10.92 Bn | 1.48 Bn | 46.92% |
| 2 | DraftKings | 16.89 Bn | 12.55 Bn | 551.45 Mn | 38.21% |
| 3 | Flutter Entertainment | 12.94 Bn | 6.68 Bn | 1.71 Bn | 39.60% |
| 4 | Madison Square Garden Sports | 9.77 Bn | 9.37 Bn | 119.21 Mn | 42.77% |
| 5 | Life Time Group Holdings | 8.91 Bn | 8.14 Bn | 412.26 Mn | 47.61% |
| 6 | Wynn Resorts | 8.21 Bn | 1.77 Bn | 758.95 Mn | 40.87% |
| 7 | MGM Resorts International | 7.81 Bn | -371.12 Mn | 1.98 Bn | 44.47% |
| 8 | Caesars Entertainment | 6.04 Bn | 2.66 Bn | 1.50 Bn | 50.08% |
| 9 | Super Group (SGHC) | 5.74 Bn | 3.73 Bn | - | - |
| 10 | PENN Entertainment | 1.96 Bn | -985.32 Mn | 690.50 Mn | 37.18% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 37.18% |
| Mar 31, 2026 | 36.07% |
| Dec 31, 2025 | 31.06% |
| Sep 30, 2025 | 33.81% |
| Jun 30, 2025 | 34.75% |
| Mar 31, 2025 | 17.27% |
| Dec 31, 2024 | 30.04% |
| Sep 30, 2024 | 34.69% |
| Jun 30, 2024 | 34.41% |
| Mar 31, 2024 | 29.63% |
| Dec 31, 2023 | 19.49% |
| Sep 30, 2023 | 23.93% |
| Jun 30, 2023 | 41.58% |
| Mar 31, 2023 | 41.80% |
| Dec 31, 2022 | 39.51% |
| Sep 30, 2022 | 41.10% |
| Jun 30, 2022 | 44.66% |
| Mar 31, 2022 | 45.12% |
| Dec 31, 2021 | 39.05% |
| Sep 30, 2021 | 46.26% |
API Access
PENN Entertainment Gross Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=gross-margin&ticker=PENN&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "PENN", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=gross-margin&ticker=PENN&period=max&api_key=YOUR_API_KEY");
const data = await res.json();