PENN Entertainment, Inc. (PENN) FY2026 YTD Q2 Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2026-01-01 to 2026-06-30

Swipe to see the full flow
PENN Entertainment, Inc. cash flow reconciliation, Jan 1, 2026 through Jun 30, 2026One connected Sankey reconciles operating, investing and financing net cash flows through a shared cash pool, from beginning cash to ending cash. Ribbons flow left to right on one dollar scale. Activity totals are dark gray; beginning and ending cash are blue. Cash basis for beginning and ending balances and net cash change: Cash, cash equivalents, and restricted cash. Intermediate calculation bars are lighter gray. Net income is green for profit and red for loss. Identified asset purchases, sales and maturities are blue in either cash direction. Purple identifies capital transactions such as borrowing, repayments, share issuance and dividends. Read chart description and values below for full signed amounts, including zero items.Net income → Net cash from operating activities: $29,800,000.00Depreciation and amortization → Operating adjustments reconciliation: $234,800,000.00Non-cash operating lease expense → Operating adjustments reconciliation: $199,400,000.00Stock-based compensation → Operating adjustments reconciliation: $31,500,000.00Deferred income taxes → Operating adjustments reconciliation: $23,700,000.00Prepaid expenses and other current assets → Operating adjustments reconciliation: $18,300,000.00Income taxes → Operating adjustments reconciliation: $18,200,000.00Return on investment from unconsolidated affiliates → Operating adjustments reconciliation: $17,800,000.00Other → Operating adjustments reconciliation: $14,400,000.00Accounts payable → Operating adjustments reconciliation: $9,700,000.00Accounts receivable → Operating adjustments reconciliation: $7,200,000.00Loss on early extinguishment of debt → Operating adjustments reconciliation: $1,800,000.00Operating adjustments reconciliation → Net cash from operating activities: $333,300,000.00Operating adjustments reconciliation → Operating lease liabilities: $190,900,000.00Operating adjustments reconciliation → Other current and long-term liabilities: $19,600,000.00Operating adjustments reconciliation → Income from unconsolidated affiliates: $16,900,000.00Operating adjustments reconciliation → Other assets: $12,600,000.00Operating adjustments reconciliation → Accrued expenses: $3,500,000.00Proceeds from sale-and-leaseback transactions in conjunction with development projects → investing reconciliation: $216,300,000.00Other → investing reconciliation: $23,600,000.00investing reconciliation → Net cash from investing activities: $27,400,000.00investing reconciliation → Capital expenditures: $192,000,000.00investing reconciliation → Consideration paid for gaming licenses and other intangible assets: $20,500,000.00Net cash used in financing activities → financing reconciliation: $186,100,000.00Proceeds from issuance of term loans, net of discount → financing reconciliation: $1,404,500,000.00Proceeds from issuance of bonds → financing reconciliation: $600,000,000.00Proceeds from revolving credit facility → financing reconciliation: $235,000,000.00Proceeds from insurance financing → financing reconciliation: $7,200,000.00financing reconciliation → Repayments on credit facilities: $1,406,900,000.00financing reconciliation → Repayments of revolving credit facility: $805,000,000.00financing reconciliation → Repayment and repurchases of convertible debt: $106,700,000.00financing reconciliation → Principal payments on finance leases: $27,600,000.00financing reconciliation → Debt issuance costs: $26,600,000.00financing reconciliation → Principal payments on financing obligations: $22,600,000.00financing reconciliation → Payments on insurance financing: $17,100,000.00financing reconciliation → Principal payments on long-term debt: $11,900,000.00financing reconciliation → Other: $8,400,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $714,800,000.00Net cash from operating activities → Cash sources and uses: $363,100,000.00Net cash from investing activities → Cash sources and uses: $27,400,000.00Cash sources and uses → Exchange-rate effect: $1,700,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $917,500,000.00Cash sources and uses → Net cash used in financing activities: $186,100,000.00Net income: $29,800,000.00Net income+$29.80 MDepreciation and amortization: $234,800,000.00Depreciation & amortization+$234.80 MNon-cash operating lease expense: $199,400,000.00Operating lease amortization+$199.40 MIncome from unconsolidated affiliates: -$16,900,000.00Equity-method results−$16.90 MReturn on investment from unconsolidated affiliates: $17,800,000.00Equity-method distributions+$17.80 MDeferred income taxes: $23,700,000.00Deferred taxes & credits+$23.70 MStock-based compensation: $31,500,000.00Stock-based compensation+$31.50 MInvestment Agreement warrant expense: $0.00Impairment loss: $0.00Gain on financing arrangement: $0.00Loss on early extinguishment of debt: $1,800,000.00Debt extinguishment gain & loss+$1.80 MAccounts receivable: $7,200,000.00Accounts receivable+$7.20 MPrepaid expenses and other current assets: $18,300,000.00Prepaid & other assets+$18.30 MOther assets: -$12,600,000.00Other operating assets−$12.60 MAccounts payable: $9,700,000.00Accounts payable+$9.70 MAccrued expenses: -$3,500,000.00Other accrued liabilities−$3.50 MIncome taxes: $18,200,000.00Income taxes payable+$18.20 MOperating lease liabilities: -$190,900,000.00Operating lease liabilities−$190.90 MOther current and long-term liabilities: -$19,600,000.00Other operating liabilities−$19.60 MOther: $14,400,000.00Other receivables+$14.40 MNet cash from operating activities: $363,100,000.00Operating cash+$363.10 MOperating adjustments reconciliation: $576,800,000.00Proceeds from revolving credit facility: $235,000,000.00Credit line borrowings+$235.00 MRepayments of revolving credit facility: -$805,000,000.00Credit line repayments−$805.00 MProceeds from issuance of term loans, net of discount: $1,404,500,000.00Term loans issued, net+$1.40 BRepayment and repurchases of convertible debt: -$106,700,000.00Convertible debt repaid−$106.70 MProceeds from issuance of bonds: $600,000,000.00Debt issued+$600.00 MPrincipal payments on long-term debt: -$11,900,000.00Unsecured debt repaid−$11.90 MRepayments on credit facilities: -$1,406,900,000.00Long-term credit line repayments−$1.41 BDebt issuance costs: -$26,600,000.00Financing costs paid−$26.60 MPrincipal payments on financing obligations: -$22,600,000.00Financing obligations repaid−$22.60 MPrincipal payments on finance leases: -$27,600,000.00Finance lease payments−$27.60 MRepurchases of common stock: $0.00Proceeds from insurance financing: $7,200,000.00Insurance financing proceeds+$7.20 MPayments on insurance financing: -$17,100,000.00Payments on insurance financing−$17.10 MOther: -$8,400,000.00Other financing, net−$8.40 MNet cash used in financing activities: -$186,100,000.00. Cash required to fund net payments.Financing cash−$186.10 Mfinancing reconciliation: $2,432,800,000.00Capital expenditures: -$192,000,000.00Capital improvements−$192.00 MProceeds from sale of investments: $0.00Proceeds from sale-and-leaseback transactions in conjunction with development projects: $216,300,000.00Other asset sales+$216.30 MConsideration paid for gaming licenses and other intangible assets: -$20,500,000.00Intangible asset purchases−$20.50 MOther: $23,600,000.00Other investing, net+$23.60 MNet cash from investing activities: $27,400,000.00Investing cash+$27.40 Minvesting reconciliation: $239,900,000.00Cash sources and uses: $1,105,300,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $714,800,000.00Beginning cash$714.80 MEnding cash: Cash, cash equivalents, and restricted cash: $917,500,000.00Ending cash$917.50 MExchange-rate effect: -$1,700,000.00FX effect−$1.70 MCASH RECONCILIATIONOperatingflowsInvestingflowsFinancingflowsFree cash flowNot availableCash flow / Net income12.18×Operating cash flow ÷ net incomeNet cash change+$202.70 MEnding cash − beginning cash
Chart details

PENN Entertainment, Inc. cash flow reconciliation, Jan 1, 2026 through Jun 30, 2026

Cash flows for Jan 1, 2026 through Jun 30, 2026. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Dec 31, 2025. Ending cash: Jun 30, 2026. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Dec 31, 2025
714,800,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
363,100,000 US dollars. Net cash provided.
Net income
29,800,000 US dollars
Depreciation and amortization
234,800,000 US dollars
Non-cash operating lease expense
199,400,000 US dollars
Income from unconsolidated affiliates
negative 16,900,000 US dollars
Return on investment from unconsolidated affiliates
17,800,000 US dollars
Deferred income taxes
23,700,000 US dollars
Stock-based compensation
31,500,000 US dollars
Investment Agreement warrant expense
0 US dollars
Impairment loss
0 US dollars
Gain on financing arrangement
0 US dollars
Loss on early extinguishment of debt
1,800,000 US dollars
Accounts receivable
7,200,000 US dollars
Prepaid expenses and other current assets
18,300,000 US dollars
Other assets
negative 12,600,000 US dollars
Accounts payable
9,700,000 US dollars
Accrued expenses
negative 3,500,000 US dollars
Income taxes
18,200,000 US dollars
Operating lease liabilities
negative 190,900,000 US dollars
Other current and long-term liabilities
negative 19,600,000 US dollars
Other
14,400,000 US dollars
Investing activities
27,400,000 US dollars. Net cash provided.
Capital expenditures
negative 192,000,000 US dollars
Proceeds from sale of investments
0 US dollars
Proceeds from sale-and-leaseback transactions in conjunction with development projects
216,300,000 US dollars
Consideration paid for gaming licenses and other intangible assets
negative 20,500,000 US dollars
Other
23,600,000 US dollars
Financing activities
negative 186,100,000 US dollars. Net cash used.
Proceeds from revolving credit facility
235,000,000 US dollars
Repayments of revolving credit facility
negative 805,000,000 US dollars
Proceeds from issuance of term loans, net of discount
1,404,500,000 US dollars
Repayment and repurchases of convertible debt
negative 106,700,000 US dollars
Proceeds from issuance of bonds
600,000,000 US dollars
Principal payments on long-term debt
negative 11,900,000 US dollars
Repayments on credit facilities
negative 1,406,900,000 US dollars
Debt issuance costs
negative 26,600,000 US dollars
Principal payments on financing obligations
negative 22,600,000 US dollars
Principal payments on finance leases
negative 27,600,000 US dollars
Repurchases of common stock
0 US dollars
Proceeds from insurance financing
7,200,000 US dollars
Payments on insurance financing
negative 17,100,000 US dollars
Other
negative 8,400,000 US dollars
Operating adjustment reconciliation
576,800,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
financing gross reconciliation
2,432,800,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
investing gross reconciliation
239,900,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
Exchange-rate effect
negative 1,700,000 US dollars
Ending cash on Jun 30, 2026
917,500,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
1,105,300,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
202,700,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
12.18×. Operating cash flow divided by reconciliation net income for the same period. Black from 0.90× through 1.10×; green above 1.10×; red below 0.90×. Color uses the unrounded ratio.

Chart connections

  • Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
  • Financing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Investing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Operating reconciliation adjustments are not all independent cash receipts.
  • Net income enters operating cash directly in the reconciliation. The adjustment junction contributes the remaining $333.30M after reconciling the other positive and negative adjustments. These connections depict an accounting reconciliation, not traced cash receipts.
  • Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
  • The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
PENN Entertainment, Inc. (PENN) FY2026 YTD Q2 Statement of Cash Flows Sankey chart
Free to share unchanged, with credit to Plicit.ai · CC BY-NC-ND 4.0Download PNG

Newsletter

Get the teardowns by email

Subscribe if you want the public-company teardowns in your inbox when they're released.

Product waitlist

Health Check and Teardown for your own company

A health check uncovers insights of your private books, not a public ticker. Join this list to get notified as soon as we go-live!