Caesars Entertainment, Inc. filed its 10-Q with the SEC, and its figures are now in our data. Revenue over the twelve months to Q3 2026 was $11.7 billion, a rise of 3.1% on the year before. That growth rate was up 0.7 percentage points on the rate a quarter earlier.
Source: SEC EDGAR XBRL company facts. Latest period shown: FY26 Q3.
View chart data
| Period | Revenue growth, TTM YoY | Operating margin (TTM) | FCF margin (TTM) |
|---|---|---|---|
| FY24 Q4 | -2.5% | 20.5% | -2.0% |
| FY25 Q1 | -1.3% | 20.4% | -0.4% |
| FY25 Q2 | -0.1% | 20.5% | 0.6% |
| FY25 Q3 | 0.9% | 19.3% | 3.3% |
| FY25 Q4 | 2.1% | 16.2% | 4.3% |
| FY26 Q1 | 2.3% | 16.2% | 4.7% |
| FY26 Q2 | 2.4% | 15.9% | 5.2% |
| FY26 Q3 | 3.1% | 15.4% | 5.0% |
Profitability
The company is still loss-making. The trailing operating margin stood at 15.4%, down 3.9 percentage points from a year earlier, while the trailing net margin was negative at −4.5%. Over the twelve months, the company made a net loss of $533.0 million.
Where the cash went
On a cash basis, the picture improves. Operating cash flow over the twelve months was $1.2 billion, down 4.7% on the year before. Capital spending totaled $664.0 million, or 5.7% of revenue. Consequently, free cash flow, operating cash flow less capital spending, reached $582.0 million, up 53.2% on the year before. This represented a free-cash-flow margin of 5.0%, up 1.6 percentage points from a year earlier.
Share count
The average diluted share count fell 3.0% over the year.
In context
Measured against its own history, today’s free-cash-flow margin of 5.0% is higher than 67% of the company’s own past quarterly readings, which have ranged from −20.0% to 11.2%. Today’s operating margin of 15.4% is higher than 63% of past readings (−10.6% to 21.4%). Similarly, today’s twelve-month revenue growth rate of 3.1% is higher than 26% of past readings (−23.7% to 294.7%).
The valuation angle
Our model translates these figures into value. In our model, growth 5 percentage points lower would lower the value by 33.9%, and 5 percentage points higher would raise it by 44.5%. A free-cash-flow margin 1 percentage point lower would lower it by 6.6%.
Next to watch
The next filing will show whether the trends above continue, slow or reverse.
