PENN Entertainment, Inc. (PENN) vs Marriott Vacations Worldwide Corporation (VAC)

PENN Entertainment, Inc. and Marriott Vacations Worldwide Corporation are both Resorts & Casinos companies. Marriott Vacations Worldwide Corporation is the larger, with a market value of $3.5B against $2.1B — 1.7× the size. PENN Entertainment, Inc. grew revenue faster over the last twelve months: 6.14% against 1.67%. Marriott Vacations Worldwide Corporation has the higher net margin (−6.47% vs −12.7%) and the higher return on invested capital (−1.51% vs −4.38%). Across the 19 metrics below, Marriott Vacations Worldwide Corporation leads on 13 and PENN Entertainment, Inc. on 6.

Valuation

Metric PENN VAC Resorts & Casinos median
P/E n/m n/m 18.52
P/S 0.29 0.69 0.54
P/B 1.13 1.74 2.13
Price to free cash flow 55.21 35.08 13.62
EV/EBITDA n/m n/m 9.18
EV/Sales 1.16 1.65 1.80
Earnings yield (40.58%) (9.39%) 1.69%
Free cash flow yield 1.81% 2.85% 6.51%

Profitability

Metric PENN VAC Resorts & Casinos median
Gross margin 35.16% 90.72% 50.85%
Operating margin (7.89%) (3.27%) 10.41%
Net margin (12.66%) (6.47%) 1.28%
Free cash flow margin 0.53% 1.98% 4.23%
Return on equity (37.49%) (14.71%) 5.28%
Return on assets (6.19%) (3.45%) 0.57%
Return on invested capital (4.38%) (1.51%) 5.61%

Growth

Metric PENN VAC Resorts & Casinos median
Revenue growth (TTM) 6.14% 1.67% 2.76%
EPS growth (last fiscal year) (184.39%) (257.58%) —
Revenue growth, 5-year CAGR 14.23% 11.76% 24.21%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric PENN VAC Resorts & Casinos median
Debt to equity 3.83 2.65 1.94
Current ratio 0.89 3.56 0.91
Net debt to EBITDA (30.04) (1,236.75) 3.08

Dividend

Metric PENN VAC Resorts & Casinos median
Dividend yield — 2.28% 1.27%
Payout ratio 0.00 0.32 0.00

Size

Metric PENN VAC Resorts & Casinos median
Market cap 2.09b 3.47b 2.43b

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