# Caesars Entertainment, Inc. (CZR)

> Source: Nexqual · https://nexqual.com/CZR · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Caesars Entertainment, Inc. (CZR), nexqual.com/CZR" · informational, not investment advice.

**Price:** USD 29.07 (+0.59% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 28.9 · day 28.81–29.11 · 52w 17.86–30.88 · market cap $5.92B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $11.6B, net income -$465M (-4.0% margin), free cash flow $610M (SEC filings).
- 1 of 80 tracked superinvestors hold CZR (13F, Q2 2026): 0 new, 0 added, 0 reduced, 1 unchanged.
- Analysts: Hold (mean 2.87 on a 1–5 scale) (15 analysts), mean target USD 31.27 (range 31–35).
- Total return with dividends: 1Y +25.9% vs S&P 500 +14.9%; 5Y -74.1% vs S&P 500 +80.3%.
- Next earnings: 2026-10-27, EPS estimate USD 0.08, revenue estimate $2.96B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $9.57B | $10.8B | $11.5B | $11.2B | $11.5B | $11.6B |
| Operating income | $1.46B | $1.74B | $2.47B | $2.30B | $1.86B | $1.86B |
| Net income | -$1.02B | -$899M | $786M | -$278M | -$502M | -$465M |
| EPS (diluted) | -$4.83 | -$4.19 | $3.64 | -$1.29 | -$2.42 | — |
| Free cash flow | $679M | $41.0M | $545M | -$221M | $497M | $610M |
| Operating margin | 15.3% | 16.1% | 21.4% | 20.5% | 16.2% | 15.9% |
| Net margin | -10.6% | -8.3% | 6.8% | -2.5% | -4.4% | -4.0% |
| Revenue growth | +163.8% | +13.1% | +6.5% | -2.5% | +2.1% | — |
| Cash + short-term investments | — | $1.04B | $1.00B | $866M | $887M | — |
| Total debt | $14.3B | $13.1B | $12.4B | $12.3B | $11.9B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 0.5x · EV/EBITDA 5.2x · EV/Sales 1.4x · P/FCF 9.7x · P/B 1.8x · FCF yield 10.30% · Earnings yield -7.85% · Net debt $10.8B · EV $16.8B
P/E at fiscal year-ends: Dec 2023 12.9x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold CZR. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Carl Icahn | Icahn Capital Management | 0.89% | $73.6M | Unchanged |

## Analysts
Consensus Hold (mean 2.87 on a 1–5 scale), 15 analysts; mean target USD 31.27 (low 31, high 35).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-07-29 | TD Cowen | Downgrade | Buy → Hold | $31 |
| 2026-07-29 | Macquarie | Maintained | Neutral | $31 |
| 2026-07-09 | Barclays | Downgrade | Overweight → Equal-Weight | $35 → $31 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +25.9% | -74.1% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +26.1% | -23.6% |
| Volatility (annualized) | 43.9% | 46.9% |
| Max drawdown | -28.4% (Jan 2026→Feb 2026) | -83.8% (Oct 2021→Feb 2026) |

## Peers (Resorts & Casinos)
MTN (Vail Resorts, Inc.) USD 148.23 +0.83% · BYD (Boyd Gaming Corporation) USD 72.27 +2.35% · RRR (Red Rock Resorts, Inc.) USD 50.43 +2.38% · MGM (MGM Resorts International) USD 29.5 +2.18% · WYNN (Wynn Resorts, Limited) USD 75.13 -0.83% · VAC (Marriott Vacations Worldwide Co) USD 112.93 -0.16%

## More
Full page: https://nexqual.com/CZR · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.08 | $0.07 | +6.7% | $2.96B | 2 |
| Next quarter (ends 2026-12-31) | $0.09 | $0.09 | -2.7% | $3.02B | 2 |
| Current fiscal year (ends 2026-12-31) | $-0.72 | $0.15 | -580.0% | $11.84B | 1 |
| Next fiscal year (ends 2027-12-31) | $0.72 | $0.84 | -14.7% | $12.13B | 3 |