Caesars Entertainment (CZR)
Market Price (12/20/2025): $24.28 | Market Cap: $5.0 BilSector: Consumer Discretionary | Industry: Casinos & Gaming
Caesars Entertainment (CZR)
Market Price (12/20/2025): $24.28Market Cap: $5.0 BilSector: Consumer DiscretionaryIndustry: Casinos & Gaming
Investment Highlights
Why It Matters
Which of these 2 stories sounds closer for this stock?
1. Generates cash flow
The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.
2. Riding a trend
Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 11% | Weak multi-year price returns2Y Excs Rtn is -94%, 3Y Excs Rtn is -122% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 476% |
| Attractive yieldFCF Yield is 7.5% | Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 18% | Weak revenue growthRev Chg QQuarterly Revenue Change % is -0.2% |
| Megatrend and thematic driversMegatrends include Experience Economy & Premiumization, and Markets & Betting. Themes include Travel & Leisure Tech, Experiential Retail, Show more. | Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -8.9% | |
| Key risksCZR key risks include [1] a substantial debt burden that exposes it to interest rate volatility and [2] intense competition and regulatory challenges in its digital segment that strain profitability. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 11% |
| Attractive yieldFCF Yield is 7.5% |
| Megatrend and thematic driversMegatrends include Experience Economy & Premiumization, and Markets & Betting. Themes include Travel & Leisure Tech, Experiential Retail, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -94%, 3Y Excs Rtn is -122% |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 18% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 476% |
| Weak revenue growthRev Chg QQuarterly Revenue Change % is -0.2% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -8.9% |
| Key risksCZR key risks include [1] a substantial debt burden that exposes it to interest rate volatility and [2] intense competition and regulatory challenges in its digital segment that strain profitability. |
Valuation, Metrics & Events
CZR Stock
Why The Stock Moved
Qualitative Assessment
AI Generated Analysis | Feedback
Here are the key points for why Caesars Entertainment (CZR) stock moved by approximately -8.9% in the approximate time period from August 31, 2025, to today:
**1. Caesars Entertainment missed its third-quarter 2025 earnings and revenue estimates.** The company reported a quarterly loss of $0.04 per share, significantly missing the Zacks Consensus Estimate of $0.21, and its net revenues of $2.87 billion also fell short of the consensus mark. Another report indicated a loss of $0.27 per share against an estimated $0.01 and revenue missing Street estimates.
**2. The company experienced soft performance in its Las Vegas and Regional segments.** Net revenues in the Las Vegas segment totaled $952 million, down 10.4% year-over-year, with adjusted EBITDA also declining due to lower city-wide visitation and poor table games hold. Regional segment operating results were negatively impacted by new competition, construction disruption, and difficult comparisons versus the prior year.
**3. Caesars Digital segment faced challenges despite overall growth.** While the Caesars Digital segment generally showed strong net revenue growth, its Adjusted EBITDA declined to $28 million from $52 million in the prior-year quarter, impacted by lower-than-expected sports hold during September. One analysis also reported a 46% fall in digital gaming EBITDA, missing projections.
**4. Caesars Entertainment incurred increased operating costs and headwinds.** The company faced incremental state taxes, higher acquisition marketing spend, and an increase in bad debt during the quarter, contributing to its soft financial performance.
**5. Analyst firms downgraded the stock and lowered price targets following the earnings report.** Jefferies downgraded Caesars Entertainment from Buy to Hold, cutting its price target, citing low confidence in growth prospects for both Las Vegas and regional operations. Other firms also revised their price targets downwards due to balance sheet concerns, weaker digital operations, and a decline in quarterly EBITDAR.
Stock Movement Drivers
Return vs. Risk
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| CZR Return | 25% | 26% | -56% | 13% | -29% | -28% | -60% |
| Peers Return | 108% | -20% | -20% | 49% | -8% | 11% | 101% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 16% | 112% |
Monthly Win Rates [3] | |||||||
| CZR Win Rate | 67% | 50% | 33% | 42% | 33% | 58% | |
| Peers Win Rate | 52% | 45% | 40% | 57% | 45% | 60% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 73% | |
Max Drawdowns [4] | |||||||
| CZR Max Drawdown | -88% | -10% | -66% | -7% | -32% | -44% | |
| Peers Max Drawdown | -55% | -35% | -42% | -10% | -25% | -29% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: MGM, LVS, WYNN, DKNG, PENN. See CZR Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/19/2025 (YTD)
How Low Can It Go
| Event | CZR | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -73.0% | -25.4% |
| % Gain to Breakeven | 270.4% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -89.8% | -33.9% |
| % Gain to Breakeven | 878.5% | 51.3% |
| Time to Breakeven | 251 days | 148 days |
| 2018 Correction | ||
| % Loss | -35.1% | -19.8% |
| % Gain to Breakeven | 54.0% | 24.7% |
| Time to Breakeven | 87 days | 120 days |
Compare to
In The Past
Caesars Entertainment's stock fell -73.0% during the 2022 Inflation Shock from a high on 10/1/2021. A -73.0% loss requires a 270.4% gain to breakeven.
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Latest Trefis Analyses
Trade Ideas
Select past ideas related to CZR. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11302025 | BBWI | Bath & Body Works | Dip Buy | DB | Insider Buys | Low D/EDip Buy with Strong Insider BuyingBuying dips for companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | 13.7% | 13.7% | 0.0% |
| 11262025 | HRB | H&R Block | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 5.8% | 5.8% | -0.1% |
| 11262025 | LRN | Stride | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 3.6% | 3.6% | -4.4% |
| 11212025 | ABNB | Airbnb | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 18.4% | 18.4% | 0.0% |
| 11212025 | MTN | Vail Resorts | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 11.9% | 11.9% | -1.6% |
| 10312023 | CZR | Caesars Entertainment | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | -10.2% | 4.2% | -20.2% |
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11302025 | BBWI | Bath & Body Works | Dip Buy | DB | Insider Buys | Low D/EDip Buy with Strong Insider BuyingBuying dips for companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | 13.7% | 13.7% | 0.0% |
| 11262025 | HRB | H&R Block | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 5.8% | 5.8% | -0.1% |
| 11262025 | LRN | Stride | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 3.6% | 3.6% | -4.4% |
| 11212025 | ABNB | Airbnb | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 18.4% | 18.4% | 0.0% |
| 11212025 | MTN | Vail Resorts | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 11.9% | 11.9% | -1.6% |
| 10312023 | CZR | Caesars Entertainment | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | -10.2% | 4.2% | -20.2% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons for Caesars Entertainment
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 35.75 |
| Mkt Cap | 11.7 |
| Rev LTM | 9,240 |
| Op Inc LTM | 1,412 |
| FCF LTM | 634 |
| FCF 3Y Avg | 526 |
| CFO LTM | 1,330 |
| CFO 3Y Avg | 1,339 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 4.6% |
| Rev Chg 3Y Avg | 18.3% |
| Rev Chg Q | 4.6% |
| QoQ Delta Rev Chg LTM | 1.0% |
| Op Mgn LTM | 13.0% |
| Op Mgn 3Y Avg | 11.2% |
| QoQ Delta Op Mgn LTM | 0.1% |
| CFO/Rev LTM | 13.5% |
| CFO/Rev 3Y Avg | 13.8% |
| FCF/Rev LTM | 8.8% |
| FCF/Rev 3Y Avg | 5.5% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 11.7 |
| P/S | 1.2 |
| P/EBIT | 6.3 |
| P/E | 11.9 |
| P/CFO | 6.9 |
| Total Yield | -0.4% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 3.9% |
| D/E | 2.0 |
| Net D/E | 1.8 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 13.0% |
| 3M Rtn | -2.8% |
| 6M Rtn | -1.5% |
| 12M Rtn | -0.8% |
| 3Y Rtn | 29.9% |
| 1M Excs Rtn | 10.1% |
| 3M Excs Rtn | -3.9% |
| 6M Excs Rtn | -14.6% |
| 12M Excs Rtn | -18.2% |
| 3Y Excs Rtn | -48.6% |
Comparison Analyses
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/28/2025 | -15.2% | -9.4% | 3.8% |
| 7/29/2025 | -2.0% | -11.6% | -5.3% |
| 2/25/2025 | -0.9% | -11.9% | -20.8% |
| 10/29/2024 | -8.2% | -14.3% | -15.5% |
| 7/30/2024 | 8.3% | -6.3% | 0.5% |
| 4/30/2024 | 1.6% | 1.5% | -11.1% |
| 1/24/2024 | -3.6% | -3.2% | -9.4% |
| 10/31/2023 | -1.1% | 9.4% | 12.1% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 9 | 12 | 12 |
| # Negative | 14 | 11 | 11 |
| Median Positive | 2.8% | 4.4% | 13.1% |
| Median Negative | -1.9% | -9.4% | -12.3% |
| Max Positive | 12.4% | 34.8% | 93.3% |
| Max Negative | -15.2% | -25.0% | -67.3% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 9302025 | 10282025 | 10-Q 9/30/2025 |
| 6302025 | 7292025 | 10-Q 6/30/2025 |
| 3312025 | 4292025 | 10-Q 3/31/2025 |
| 12312024 | 2252025 | 10-K 12/31/2024 |
| 9302024 | 10292024 | 10-Q 9/30/2024 |
| 6302024 | 7302024 | 10-Q 6/30/2024 |
| 3312024 | 4302024 | 10-Q 3/31/2024 |
| 12312023 | 2202024 | 10-K 12/31/2023 |
| 9302023 | 10312023 | 10-Q 9/30/2023 |
| 6302023 | 8012023 | 10-Q 6/30/2023 |
| 3312023 | 5032023 | 10-Q 3/31/2023 |
| 12312022 | 2222023 | 10-K 12/31/2022 |
| 9302022 | 11022022 | 10-Q 9/30/2022 |
| 6302022 | 8042022 | 10-Q 6/30/2022 |
| 3312022 | 5042022 | 10-Q 3/31/2022 |
| 12312021 | 2242022 | 10-K 12/31/2021 |
External Quote Links
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| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |