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Caesars Entertainment, Inc. (CZR) stock

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NASDAQ: CZR Nasdaq Casinos & Gaming Next results ~February 16, 2027

C Fundamentals grade

Caesars Entertainment, Inc. is a US-listed company in the casinos & gaming industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: after-tax interest is 635% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy.

Price vs value

Under review: after-tax interest is 635% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy. We'll show the comparison once resolved.

Caesars Entertainment, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 6 selling0 purchases and 16 sales by directors and officers, last 12 monthsInsider trades
  • Funds200 adding, 237 cuttingOf 72 active managers that changed their stake, 43 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Caesars Entertainment files

10-Q filed October 27: Caesars Entertainment

Revenue for the twelve months to September 2026 reached $11.7bn, up 3.1% on a year earlier. That marks an acceleration from the 2.4% growth recorded a quarter earlier, and ranks Caesars 9 of 11 for growth among the casinos and gaming companies we cover. Free cash flow also improved, with the margin rising to 5.0% from 3.3% a year earlier. Operating margin told a different story, narrowing to 15.4% from 19.3%. Alongside this, the diluted share count has fallen 3.0% over the year, which lifts the value attached to each remaining share.

Our model value for Caesars Entertainment is under review, so past values are not shown until it is resolved.

Source: 10-Q filed October 27, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (1)

Where Caesars Entertainment stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $11.6bn, up 2.4% on a year earlier, about the same pace as a quarter earlier. Free-cash-flow margin rose to 5.2% from 0.6% a year earlier. Operating margin narrowed to 15.9% from 20.5%. The diluted share count is down 3.5% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 0 of our 7 financial-health checks. Our cash-flow model value is $-38.37 a share, against a share price of $29.04.

10-Q on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~February 16, 2027 (estimated)

Caesars Entertainment, Inc.'s trailing-twelve-month revenue grew 3.1% year on year, with a free-cash-flow margin of 5.0%.

Our discounted-cash-flow model values the business at ~$120 per share in the base case (~$75–$180 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 53.2% while net income fell 121.2%: a 174pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Shrinking share count. Diluted shares fell 3.0% in a year, so each share owns more of the business.

Things to watch

  • Margins narrowing. Operating margin is down 3.9 points on a year ago.
  • Insiders selling. 6 insiders sold $18M of stock over the past 365 days and none bought (0% under pre-set trading plans).
  • Heavily shorted. 11.8% of the shares available to trade are sold short (4.7 days of average volume to cover).
  • Missing expectations. Earnings per share fell short of the consensus estimate in 4 of the last four quarters.
  • Estimates being cut. Analysts' consensus for next year's earnings per share has fallen 34.8% over 90 days.

Latest results: FY2026 Q3

Filed October 27, 2026
Earnings per share
-$0.52 against an average estimate of $0.08: missed by 747.2%
Revenue
$2.94bn, up 2.5% on a year earlier
Share reaction
-1.4% in the first session after the results on October 27, 2026, against +0.9% for the S&P 500
Next report
October 27, 2026; average EPS estimate -$0.24

Caesars Entertainment's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-0.3%
  • 1 week0.0%
  • 1 month-2.2%
  • This year+23.9%
  • 1 year+44.2%
  • 5 years-73.8%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$11.7B
Operating margin
15.4%
Net margin
-4.5%
EPS (TTM, diluted)
$-2.61

Growth

Revenue growth
+3.1%
Change in growth rate
+0.7 pts
Share count change
−3.0%

Cash

Free cash flow (TTM)
$582M
FCF margin
5.0%
Stock pay % of revenue
0.8%

Earnings

Last results
October 27, 2026
Next results (est.)
February 16, 2027

News & updates

Updated November 3, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Product
  3. Announcement
  4. Our research
  5. Results
  6. Announcement
  7. Announcement
  8. Announcement
  9. Announcement
  10. Announcement
  11. Announcement
  12. Announcement
  13. Announcement
  14. Shareholder vote
  15. Announcement
  16. Leadership
  17. Insider trade
  18. Insider trade
  19. Insider trade
  20. Results
  21. Leadership

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Caesars Entertainment, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: held for review: after-tax interest is 635% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Caesars Entertainment, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 9.5%: the 10-year Treasury yield (4.9%) plus a beta of 1.01 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. — Does not apply: This model is withheld pending its input or assumption review.
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$8.1 ~$6.9–$10 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: This model is withheld pending its input or assumption review.
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: This model is withheld pending its input or assumption review.
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Caesars Entertainment, Inc. with Casinos & Gaming in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$11.00$16.95$33.15$36.21$59.64$74.27$93.53$41.60$46.88$33.42$23.39$28.99
Market value$517m$809m$2.3bn$2.8bn$4.7bn$9.7bn$19.7bn$8.9bn$10.1bn$7.2bn$4.9bn$5.9bn
+ Net debt (− = net cash)$788m$762m$2.1bn$3.1bn$2.4bn$13.2bn$13.3bn$12.0bn$11.4bn$11.4bn$11.0bn$10.8bn
Enterprise value$1.3bn$1.6bn$4.3bn$5.9bn$7.1bn$22.9bn$33.0bn$20.9bn$21.6bn$18.6bn$15.9bn$16.7bn
Multiples
Price / sales 0.7x0.9x1.5x1.4x1.9x2.7x2.1x0.8x0.9x0.6x0.4x0.5x
Price / earnings 4.5x33.0x30.8x29.7x58.2x———12.9x———
Price / free cash flow 25.9x15.5x48.3x16.0x33.3x—29.1xn/m18.6x—9.8x10.2x
EV / EBITDA 10.1x10.3x21.6x12.6x11.2x114.5x12.8x7.1x5.8x5.1x4.8x5.2x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

28 /100

Weak moat

How hard Caesars Entertainment's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median -0.9% of total assets over 10 years.

  • Durability 4 / 20

    Operating margin has been a median 15.2%; its worst year was -10.4%.

  • Cash conversion 9 / 20

    Free cash flow was positive in 7 of 10 years, at a median 3.0% of revenue.

  • Discipline 10 / 20

    The diluted share count rose 110.5% over five years; stock-based pay has been a median 0.8% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$0.72 +40% $11.8bn +3%
Next $0.54 +175% $12.1bn +3%

Next year's EPS estimate has moved −34.8% in 90 days, across 3 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +89.5% on 90 days ago. In the last 30 days, 0 analysts raised Caesars Entertainment, Inc.'s forecast and 1 cut it.

Consensus EPS forecast Caesars Entertainment, Inc., last 90 days
−$1.00 −$0.50 $0.00 $0.50 $1.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$0.38 Current fiscal year, 60 days ago: −$0.72 Current fiscal year, 30 days ago: −$0.72 Current fiscal year, 7 days ago: −$0.72 Current fiscal year, Now: −$0.72 −$0.72 Next fiscal year, 90 days ago: $0.82 Next fiscal year, 60 days ago: $0.72 Next fiscal year, 30 days ago: $0.72 Next fiscal year, 7 days ago: $0.72 Next fiscal year, Now: $0.54 $0.54

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$0.38$0.82
60 days ago −$0.72$0.72
30 days ago −$0.72$0.72
7 days ago −$0.72$0.72
Now −$0.72$0.54

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $0.08 −$0.52 −747.2%
Jun 2026 $0.13 −$0.19 −246.4%
Mar 2026 −$0.14 −$0.40 −197.8%
Dec 2025 −$0.23 −$0.27 −21.0%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, October 27, 2026

No numeric guidance in Caesars Entertainment, Inc.'s latest earnings release (filed October 27, 2026). Some companies give their outlook only on the earnings call.

Analyst recommendations

15 analysts, Oct 2026
Buy17%
Hold1493%
Sell00%

Monthly trend

  1. Oct 20261415
  2. Sep 20261415
  3. Aug 20261415
  4. Jul 20261415

Counts of recommendations published by analysts covering Caesars Entertainment, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
11.8%
of tradable shares
Days to cover
4.7
at average volume
Short interest, 1 month
+3%
to September 30, 2026
Held by institutions
98%
of shares
Held by insiders
0.8%
of shares
Employees
50,000
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +44.2%

$20.10 on October 31, 2025 to $28.99

ThenNowEffect
Revenue (last 12 months) $11.4bn $11.6bn +2.4%
P/S multiple 0.4x 0.5x +35.9%
Share count 212m 205m +3.7%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years −34.7%

$44.40 on November 3, 2023 to $28.99

ThenNowEffect
Revenue (last 12 months) $11.4bn $11.6bn +2.0%
P/S multiple 0.8x 0.5x −38.9%
Share count 215m 205m +4.8%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
CZR+26%−56%+13%−29%−30%+24%
Industry peers (median)+24%−19%+16%−4%−7%−18%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
CZR50%33%42%33%58%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
CZR−31%−66%−35%−33%−53%−28%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 3, 2015: 90% from February 20, 2020 to March 18, 2020. Getting back needed a 879% gain, reached on November 24, 2020, 251 days after the low.

Price behaviour

52-week range
$18.14 – $30.41
From 52-week high
−4.7%
vs 50-day average
−1.6%
vs 200-day average
+4.8%
Volatility (1 year)
41%
Beta vs S&P 500
0.53

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
2 up, 10 down
typical move ±6.0%
After a week
3 up, 8 down
typical move ±7.2%
After a month
4 up, 7 down
typical move ±11.3%
Results releasedNext dayS&P 500 next day5 days21 days
October 27, 2026 −1.4% +0.9% — —
July 28, 2026 −0.7% −1.3% +0.5% −1.0%
April 28, 2026 −2.3% −0.5% +0.2% +3.7%
February 17, 2026 +18.1% +0.7% +12.1% +51.2%
October 28, 2025 −17.0% +0.3% −11.2% +1.7%
July 29, 2025 −5.2% −0.4% −14.4% −8.3%
April 29, 2025 −3.6% +0.7% −4.3% −2.8%
February 25, 2025 −1.4% −0.4% −12.3% −21.2%
October 29, 2024 −8.7% −0.1% −14.8% −16.0%
July 30, 2024 +9.4% +1.1% −5.3% +1.5%
April 30, 2024 −3.2% −1.9% −3.2% −15.2%
February 20, 2024 −0.6% −0.5% −1.3% −1.8%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Caesars Entertainment, Inc. in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Caesars Entertainment, Inc.
$11.2B $11.4B $11.6B $11.8B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $11.5B Revenue (TTM), FY24 Q1: $11.4B Revenue (TTM), FY24 Q2: $11.4B Revenue (TTM), FY24 Q3: $11.3B Revenue (TTM), FY24 Q4: $11.2B Revenue (TTM), FY25 Q1: $11.3B Revenue (TTM), FY25 Q2: $11.4B Revenue (TTM), FY25 Q3: $11.4B Revenue (TTM), FY25 Q4: $11.5B Revenue (TTM), FY26 Q1: $11.6B Revenue (TTM), FY26 Q2: $11.6B Revenue (TTM), FY26 Q3: $11.7B $11.7B

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $11.5B
FY24 Q1 $11.4B
FY24 Q2 $11.4B
FY24 Q3 $11.3B
FY24 Q4 $11.2B
FY25 Q1 $11.3B
FY25 Q2 $11.4B
FY25 Q3 $11.4B
FY25 Q4 $11.5B
FY26 Q1 $11.6B
FY26 Q2 $11.6B
FY26 Q3 $11.7B
Revenue growth, TTM YoY Caesars Entertainment, Inc.
-5% 0% 5% 10% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 6.5% Revenue growth, TTM YoY, FY24 Q1: 0.7% Revenue growth, TTM YoY, FY24 Q2: -0.2% Revenue growth, TTM YoY, FY24 Q3: -2.2% Revenue growth, TTM YoY, FY24 Q4: -2.5% Revenue growth, TTM YoY, FY25 Q1: -1.3% Revenue growth, TTM YoY, FY25 Q2: -0.1% Revenue growth, TTM YoY, FY25 Q3: 0.9% Revenue growth, TTM YoY, FY25 Q4: 2.1% Revenue growth, TTM YoY, FY26 Q1: 2.3% Revenue growth, TTM YoY, FY26 Q2: 2.4% Revenue growth, TTM YoY, FY26 Q3: 3.1% 3.1%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 6.5%
FY24 Q1 0.7%
FY24 Q2 -0.2%
FY24 Q3 -2.2%
FY24 Q4 -2.5%
FY25 Q1 -1.3%
FY25 Q2 -0.1%
FY25 Q3 0.9%
FY25 Q4 2.1%
FY26 Q1 2.3%
FY26 Q2 2.4%
FY26 Q3 3.1%
Operating margin (TTM) Caesars Entertainment, Inc.
14% 16% 18% 20% 22% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 21.4% Operating margin (TTM), FY24 Q1: 20.6% Operating margin (TTM), FY24 Q2: 19.8% Operating margin (TTM), FY24 Q3: 19.3% Operating margin (TTM), FY24 Q4: 20.5% Operating margin (TTM), FY25 Q1: 20.4% Operating margin (TTM), FY25 Q2: 20.5% Operating margin (TTM), FY25 Q3: 19.3% Operating margin (TTM), FY25 Q4: 16.2% Operating margin (TTM), FY26 Q1: 16.2% Operating margin (TTM), FY26 Q2: 15.9% Operating margin (TTM), FY26 Q3: 15.4% 15.4%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 21.4%
FY24 Q1 20.6%
FY24 Q2 19.8%
FY24 Q3 19.3%
FY24 Q4 20.5%
FY25 Q1 20.4%
FY25 Q2 20.5%
FY25 Q3 19.3%
FY25 Q4 16.2%
FY26 Q1 16.2%
FY26 Q2 15.9%
FY26 Q3 15.4%
FCF margin (TTM) Caesars Entertainment, Inc.
-2% 0% 2% 4% 6% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 4.7% FCF margin (TTM), FY24 Q1: 4.0% FCF margin (TTM), FY24 Q2: 0.9% FCF margin (TTM), FY24 Q3: -1.0% FCF margin (TTM), FY24 Q4: -2.0% FCF margin (TTM), FY25 Q1: -0.4% FCF margin (TTM), FY25 Q2: 0.6% FCF margin (TTM), FY25 Q3: 3.3% FCF margin (TTM), FY25 Q4: 4.3% FCF margin (TTM), FY26 Q1: 4.7% FCF margin (TTM), FY26 Q2: 5.2% FCF margin (TTM), FY26 Q3: 5.0% 5.0%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 4.7%
FY24 Q1 4.0%
FY24 Q2 0.9%
FY24 Q3 -1.0%
FY24 Q4 -2.0%
FY25 Q1 -0.4%
FY25 Q2 0.6%
FY25 Q3 3.3%
FY25 Q4 4.3%
FY26 Q1 4.7%
FY26 Q2 5.2%
FY26 Q3 5.0%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 0.3 0.2 0.4 0.7 0.9 1.5 2.1 2.5 3.6 9.6 10.8 11.5 11.2 11.5 11.7
EBITDA 0.0 0.0 0.0 0.1 0.2 0.2 0.5 0.6 0.2 2.6 2.9 3.7 3.6 3.3 3.2
Operating income 0.0 0.0 0.0 0.1 0.1 0.1 0.3 0.4 −0.4 1.5 1.7 2.5 2.3 1.9 1.8
Net income −0.0 0.0 −0.0 0.1 0.0 0.1 0.1 0.1 −1.8 −1.0 −0.9 0.8 −0.3 −0.5 −0.5
Diluted EPS −$0.04 $0.81 −$0.48 $2.43 $0.51 $1.08 $1.22 $1.03 −$13.50 −$4.83 −$4.19 $3.64 −$1.29 −$2.42 −$2.61
Growth (year on year)
Revenue — −16.6% +46.4% +98.9% +24.1% +65.0% +39.5% +23.0% +43.5% +163.8% +13.1% +6.5% −2.5% +2.1% +3.1%
EBITDA — +18.3% +16.6% +180.2% +17.5% +31.9% +132.7% +35.3% −68.4% +>999% +13.8% +26.8% −2.8% −9.7% −11.1%
Operating income — +42.6% −22.3% +313.1% +22.3% +6.9% +227.0% +32.3% −193.4% — +19.1% +42.2% −6.8% −19.4% −18.0%
Net income — — −176.3% — −78.5% +199.2% +29.5% −14.7% <−999% — — — −135.4% — —
Diluted EPS — — −159.3% — −79.0% +111.8% +13.0% −15.6% <−999% — — — −135.4% — —
Margins
EBITDA margin 11.3% 16.0% 12.8% 18.0% 17.0% 13.6% 22.7% 25.0% 5.5% 27.0% 27.2% 32.4% 32.3% 28.5% 27.4%
Operating margin 5.3% 9.1% 4.9% 10.1% 9.9% 6.4% 15.1% 16.2% −10.6% 15.3% 16.1% 21.4% 20.5% 16.2% 15.4%
Net margin −0.3% 7.6% −4.0% 15.9% 2.7% 5.0% 4.6% 3.2% −48.4% −10.6% −8.3% 6.8% −2.5% −4.4% −4.5%
Free-cash-flow margin 6.5% 6.5% 5.8% 2.8% 5.8% 3.2% 8.6% 5.6% −20.0% 7.1% 0.4% 4.7% −2.0% 4.3% 5.0%
Cash flow
Cash from operations 0.0 0.0 0.0 0.1 0.1 0.1 0.3 0.3 −0.6 1.2 1.0 1.8 1.1 1.3 1.2
Capital spending 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.2 0.2 0.5 1.0 1.3 1.3 0.8 0.7
Free cash flow 0.0 0.0 0.0 0.0 0.1 0.0 0.2 0.1 −0.7 0.7 0.0 0.5 −0.2 0.5 0.6
Stock-based pay — — 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1
Free cash flow after stock pay — — 0.0 0.0 0.0 0.0 0.2 0.1 −0.8 0.6 −0.1 0.4 −0.3 0.4 0.5
Balance sheet
Cash 0.0 0.0 0.1 0.1 0.1 0.1 0.2 0.2 1.8 1.1 1.0 1.0 0.9 0.9 0.9
Total debt 0.0 0.2 0.8 0.9 0.8 2.2 3.3 2.6 15.0 14.3 13.1 12.4 12.3 11.9 11.7
Net debt (negative = net cash) −0.0 0.1 0.7 0.8 0.8 2.1 3.1 2.4 13.2 13.3 12.0 11.4 11.4 11.0 10.8
Diluted shares 23m 23m 30m 47m 48m 68m 78m 79m 130m 211m 214m 216m 215m 208m 204m
Returned to shareholders
Buybacks — — 0.0 — — — 0.0 0.0 0.0 — 0.0 0.0 0.2 0.2 —
Total returned — — 0.0 — — — 0.0 0.0 0.0 — 0.0 0.0 0.2 0.2 —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

1 of 7 checks passed · September 30, 2026
What it owns · $31.4bn
Short-term assets $1.8bnLonger-term assets $29.6bn
What it owes, and who funded it · $31.2bn
Short-term liabilities $2.2bnLonger-term liabilities $25.7bnShareholders' equity $3.3bn
  • Short-term assets cover short-term liabilities $1.8bn of assets due within a year against $2.2bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1.8bn short-term assets against $25.7bn of longer-dated liabilities.
  • More cash than debt $864m of cash against $11.6bn of debt.
  • Debt below 40% of shareholders' equity Debt is 353% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 363% to 353% over five years.
  • A year's operating cash flow covers at least 20% of debt $1.2bn of operating cash flow against $11.6bn of debt.
  • Operating profit covers interest at least five times over Operating income of $1.8bn against $2.3bn of interest.

From Caesars Entertainment, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Buybacks, last 3 fiscal years
$420M
Diluted share count
−3.0%
year over year
Days sales outstanding
14 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in casinos & gaming
Last 12 months unless stated CZR LVS MGM WYNN PENN DKNG Median
Revenue, last 12 months $11.7bn $13.6bn $17.7bn $7.4bn $7.2bn $6.2bn $2.4bn
Revenue growth, last 12 months 3.1% 10.9% 2.6% 6.4% 6.1% 15.0% 5.5%
Revenue growth, 3-year average 0.6% 16.6% 4.8% 14.7% 3.0% 27.5% 6.5%
Revenue growth, latest quarter 2.5% −3.5% −0.9% 6.9% 5.2% −4.6% 2.4%
Operating margin 15.4% 20.9% 7.0% 15.7% −7.9% −2.9% 10.1%
Operating margin, 3-year average 18.0% 21.7% 7.3% 15.1% −7.5% −6.9% 7.1%
Net margin −4.5% 11.8% 3.9% 6.1% −12.7% −2.7% 3.1%
Cash from operations / revenue 10.6% 25.6% 13.1% 19.7% 9.1% 10.8% 14.4%
Free-cash-flow margin 5.0% 17.7% 7.9% 10.7% 1.3% 10.5% 8.5%
Free-cash-flow margin, 3-year average 2.4% 15.2% 7.8% 11.6% −1.0% 7.8% 4.5%
Stock pay / revenue 0.8% 0.5% 0.5% 1.2% 0.8% 5.2% 0.9%
Change in share count −3.0% −6.1% −8.4% −3.2% −14.1% 0.5% −2.6%

Median of all 22 companies we cover in casinos & gaming. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

22 casinos & gaming companies
Measure Company Peer median Rank
Revenue growth Growth 3.1% 6.1% 14 of 21
Change in growth rate Growth +0.7pp -0.4pp 6 of 21
Operating margin Profitability 15.4% 10.1% 7 of 20
Net margin Profitability -4.5% 3.6% 16 of 22
Free-cash-flow margin Cash generation 5.0% 8.5% 14 of 21
Stock pay as % of revenue Cash generation 0.8% 0.9% 9 of 20
Long-term debt as % of assets Balance sheet 36.5% 44.3% 7 of 17
Change in share count Balance sheet -3.0% -3.0% 9 of 16
Days sales outstanding Balance sheet 14 days 13 days 12 of 18

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Casino $6.6B 57.0% ▲ 5.6%
Hotel Owned $1.9B 16.7% ▼ 3.5%
Food and Beverage $1.7B 14.8% ▼ 0.1%
Other $1.2B 10.4% ▼ 2.9%
Real Estate $128M 1.1% ▼ 13.5%

From Caesars Entertainment, Inc.'s 10-K filed February 17, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$6B
Institutions reporting
409
Shares held vs prior quarter
▼ 3.3%
Positions opened / closed
97 / 85

Top buyers and sellers, Q2 2026: 200 institutions bought and 237 sold ; the biggest buyer was Pentwater Capital Management LP (+8.8M shares) and the biggest seller Capital World Investors (−14.7M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $830M 27.5M 13.9% ▲ 8.2%
Pentwater Capital Management LP $346M 11.5M 5.8% ▲ 332.6%
Vanguard Portfolio Management LLC $311M 10.3M 5.2% ▼ 0.4%
Vanguard Capital Management LLC $268M 8.9M 4.5% ▲ 0.5%
Morgan Stanley $239M 7.9M 4.0% ▲ 42.3%
SG Americas Securities, LLC $230M 7.6M 3.9% ▲ 3200.7%
State Street Corp $202M 6.7M 3.4% ▲ 0.9%
Balyasny Asset Management L.P. $180M 6.0M 3.0% ▲ 273.7%
Kite Lake Capital Management (UK) LLP $166M 5.5M 2.8% ▲ 939.6%
Geode Capital Management, LLC $111M 3.7M 1.9% ▼ 0.4%
Mizuho Markets Americas LLC $103M 3.4M 1.7% ▲ 112.5%
Whitebox Advisors LLC $102M 3.4M 1.7% ▲ 2886.3%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Caesars Entertainment, Inc.'s complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $18.4M 16 trades by 6 insiders · 0% under pre-set plans
Net ▼ $18.4M net selling
Insider Date Trade Shares Price Value
Tomick David P Director September 15, 2026 Sell 7,142 $29.71 $212,189
Tomick David P Director September 14, 2026 Sell 7,000 $29.66 $207,620
Tomick David P Director September 11, 2026 Sell 7,000 $29.68 $207,760
Tomick David P Director September 10, 2026 Sell 7,000 $29.67 $207,690
Jones Blackhurst Janis L Director August 27, 2026 Sell 33,899 $29.63 $1M
Yunker Bret Chief Financial Officer August 19, 2026 Sell 208,134 $29.62 $6.2M
Jones Josh Chief Marketing Officer August 14, 2026 Sell 59,507 $29.72 $1.8M
Pegram Michael E Director June 12, 2026 Sell 16,897 $29.46 $497,786
Pegram Michael E Director June 11, 2026 Sell 24,800 $29.47 $730,856
Pegram Michael E Director June 10, 2026 Sell 50,000 $29.41 $1.5M
Quatmann Edmund L Jr Chief Legal Officer June 9, 2026 Sell 81,566 $29.35 $2.4M
Pegram Michael E Director June 9, 2026 Sell 36,027 $29.31 $1.1M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 8 trades and filings

No trades in Caesars Entertainment, Inc. disclosed in the last 12 months; 8 earlier trades on record.

  • Jefferson Shreve(R-IN 6):Sale (full), $15,001 - $50,000, traded March 31, 2025, filed April 11, 2025
  • Jefferson Shreve(R-IN 6):Purchase, $15,001 - $50,000, traded March 13, 2025, filed April 11, 2025
  • Susie Lee(D-NV 3):Sale (full), $1,001 - $15,000, traded November 30, 2022, filed December 29, 2022

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around February 16, 2027 estimated from the company's past filing pattern, not announced

  • October 27, 2026
  • July 28, 2026
  • April 28, 2026
  • February 17, 2026
  • October 28, 2025
  • July 29, 2025

Recent SEC filings

Data status

When each part of this page on Caesars Entertainment, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Caesars Entertainment, Inc. in brief

What does Caesars Entertainment, Inc. do?
Caesars Entertainment, Inc. is a US-listed company in the casinos & gaming industry. Its financial year ends in December.
What is Caesars Entertainment, Inc.'s stock ticker?
Caesars Entertainment, Inc. trades under the ticker CZR on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Caesars Entertainment, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Caesars Entertainment, Inc. reported revenue of $11.7B, 3.1% higher than a year earlier, according to its SEC filings.
What is Caesars Entertainment, Inc.'s free cash flow?
Caesars Entertainment, Inc.'s free-cash-flow margin is 5.0% of revenue over the trailing twelve months, ranking 14 of the 21 casinos & gaming companies we cover.
Who are Caesars Entertainment, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Pentwater Capital Management LP and Vanguard Portfolio Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Caesars Entertainment, Inc.'s market cap?
On November 2, 2026, Caesars Entertainment, Inc.'s market capitalisation was about $5.9B and net debt of $10.8B. Market figures come from third-party market data and may be delayed.
How much debt does Caesars Entertainment, Inc. have?
Caesars Entertainment, Inc.'s debt-to-equity ratio is 352.7%, from its latest balance sheet (363.0% five years earlier). The financial health section below sets out its other solvency checks.
Who are Caesars Entertainment, Inc.'s competitors?
In our Casinos & Gaming peer group, the companies closest to Caesars Entertainment, Inc. are Las Vegas Sands, MGM Resorts, Wynn Resorts, Penn Entertainment, Inc. and Draftkings Inc. The side-by-side comparison below sets their revenue, margins and growth against Caesars Entertainment, Inc.'s.
Are insiders buying or selling Caesars Entertainment, Inc. stock?
Over the last 12 months, Caesars Entertainment, Inc.'s directors and officers reported 0 open-market purchases and 16 sales on Form 4. The insider trading page charts every trade.
When is Caesars Entertainment, Inc.'s next earnings date?
Around February 16, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Caesars Entertainment, Inc. announces its own schedule.