Forensic Analysis · General / Diversified · as of Jun 27, 2026
Caesars Entertainment, Inc. (CZR)
A forensic read on Caesars Entertainment, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
C · Mixed — selective
Forensic grade
Distress
Financial health
0.1
Altman Z-score
Clean
Earnings quality
3
Forensic signals
-13.3%
ROE
$6.1B
Market cap
Caesars Entertainment, Inc. earns a C (Mixed — selective) forensic quality grade, and its Altman Z-score is 0.1, placing it in the Distress zone. 3 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
5%Return on invested capital.Return on invested capital is 5% and steady — well below its ~9% cost of capital, so reinvested dollars may be destroying value, not building it.
1% of revStock-based comp load.Stock-based compensation ran 1% of revenue and 19% of free cash flow in FY2025 — about $0.46 per diluted share. Meaningful — reported free cash flow flatters the economics, since SBC is a real cost paid in shares.
$534MGoodwill impairments.Took $534M of goodwill writedowns across 5 year(s) (FY2023 ($14M), FY2024 ($182M), FY2025 ($160M)). Writedowns mean past acquisitions underperformed what was paid for them — worth weighing on capital-allocation skill.
Key fundamentals
Net Margin-4.4%
Debt / Equity3.36x
Free Cash Flow$497.0M
Latest Revenue$11.49B
Return on Equity-14.3%
Revenue Growth YoY+2.1%
Go deeper — free with an account
The forensic grade and screens above are free — no account needed. An account adds the full interactive deep-dive on Caesars Entertainment, Inc.:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about CZR's filings — AI Q&A across the 10-K, 10-Qs & 8-Ks
🔒Interactive valuation — reverse-DCF sliders, Monte Carlo & scenario stress
🔒Calibrated 12-month price forecast, with the math shown