Accel Entertainment, Inc. ACEL
We are a leading distributed gaming operator in the United States ("U.S."), as well as a developer of brick-and-mortar casinos that serve local gaming markets and horse racing venues. We are a preferred partner for local business owners in the markets we serve. We offer turnkey, full-service gaming solutions to bars, restaurants, convenience stores, truck stops, and fraternal and veteran establishments across the country as well as casinos and horse racing venues. Our focus is providing unmatched customer support, guidance, and expertise so our location partners can grow their businesses with an additional revenue stream. We install, maintain, operate and service games of chance and games of skill, which we refer to as gaming terminals, and related equipment for our location partners as well as redemption devices that have automated teller machine ("ATM") functionality and stand-alone ATMs. We offer amusement devices, including jukeboxes, dartboards, pool tables, and other entertainment related equipment. These operations provide a complementary source of lead generation for our gaming business by offering a "one-stop" source of additional equipment for our location partners.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.33B | $1.23B | $1.17B | $969.8M | $734.7M | $316.4M | $428.7M | $335.1M | $248.4M | — |
| SG&A | $219.3M | $194.7M | $180.2M | $145.9M | $110.8M | $77.4M | $69.3M | $54.3M | $45.4M | — |
| Total operating expenses | $1.22B | $1.14B | $1.06B | $872.9M | $664.5M | $341.0M | $415.4M | $310.2M | $230.3M | — |
| Operating income | $107.9M | $90.9M | $107.4M | $96.9M | $70.2M | -$24.7M | $13.3M | $24.9M | $18.2M | — |
| Interest expense | — | — | — | — | — | $13.7M | $12.9M | $9.6M | $8.1M | — |
| Pre-tax income | $71.9M | $53.7M | $65.7M | $94.8M | $46.6M | -$17.3M | -$31.6M | $15.2M | $10.1M | — |
| Income tax | $20.7M | $18.4M | $20.1M | $20.7M | $15.0M | $16.9M | $5.2M | $4.4M | $1.8M | — |
| Net income | $51.5M | $35.3M | $45.6M | $74.1M | $31.6M | -$410.0K | -$36.8M | $10.8M | $8.3M | — |
| EPS, basic | 0.61 | 0.42 | 0.53 | 0.82 | 0.34 | 0.00 | -0.59 | 0.19 | 0.15 | — |
| EPS, diluted | 0.60 | 0.41 | 0.53 | 0.81 | 0.33 | -0.02 | -0.59 | 0.17 | 0.14 | — |
| Shares, diluted (wtd. avg.) | $86.4M | $85.0M | $86.8M | $91.2M | $94.6M | $83.1M | $61.8M | $62.2M | $59.4M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $296.6M | $281.3M | $261.6M | $224.1M | $198.8M | $134.5M | $125.4M | $92.2M | $75.3M | $54.0M |
| Short-term investments | — | — | $0 | $32.1M | $32.1M | $0 | $11.0M | $0 | — | — |
| Receivables | $14.2M | $10.6M | $13.5M | $11.2M | $5.1M | — | — | — | — | — |
| Inventory | $8.2M | $8.1M | $7.7M | $6.9M | $0 | — | — | — | — | — |
| Total current assets | $343.0M | $326.2M | $312.6M | $299.2M | $248.0M | $152.0M | $151.5M | $102.0M | $506.8K | — |
| Property, plant and equipment | $350.3M | $308.0M | $260.8M | $211.8M | $152.3M | $143.6M | $119.2M | $92.4M | — | — |
| Goodwill | $114.4M | $116.3M | $101.6M | $100.7M | $46.2M | $45.8M | $34.5M | $0 | — | — |
| Other intangibles | $186.4M | $202.6M | $176.3M | $189.3M | $150.7M | $167.7M | $166.8M | $126.0M | — | — |
| Total assets | $1.10B | $1.05B | $912.9M | $862.8M | $616.1M | $560.2M | $509.3M | $335.2M | $450.5M | — |
| Short-term debt | $37.6M | $34.4M | $28.5M | $23.5M | $17.5M | $18.2M | $15.0M | $62.5M | — | — |
| Total current liabilities | $131.5M | $118.4M | $109.7M | $89.9M | $71.8M | $52.4M | $54.9M | $85.9M | $157.4K | — |
| Long-term debt | $569.8M | $560.9M | $514.1M | $518.6M | $324.0M | $321.9M | $334.7M | $168.9M | — | — |
| Total liabilities | — | — | — | — | — | — | — | $16.0M | $15.9M | — |
| Retained earnings | $186.2M | $134.7M | $99.5M | $53.9M | -$20.2M | -$51.8M | -$51.4M | -$17.2M | -$376.4K | — |
| Total equity | $269.7M | $255.0M | $198.4M | $178.6M | $158.5M | $127.9M | -$43.0M | $57.1M | $44.5M | $24.1M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $150.9M | $121.2M | $132.5M | $108.0M | $110.8M | -$3.7M | $45.6M | $44.3M | $33.1M | — |
| Depreciation and amortisation | $52.7M | $44.0M | $37.9M | $29.3M | $24.6M | $21.0M | $26.4M | $20.8M | $16.8M | — |
| Stock-based compensation | $12.2M | $12.2M | $9.4M | $6.8M | $6.4M | $5.5M | $2.2M | $453.0K | $804.0K | — |
| Capital expenditure | $88.9M | $66.5M | $81.7M | $47.4M | $29.8M | $25.8M | $20.8M | $23.2M | $23.6M | — |
| Investing cash flow | -$100.6M | -$124.2M | -$59.8M | -$189.3M | -$34.5M | -$61.4M | -$151.5M | -$73.5M | -$70.9M | — |
| Financing cash flow | -$35.1M | $22.7M | -$35.2M | $106.6M | -$11.9M | $74.2M | $139.1M | $46.1M | $59.1M | — |
| Buybacks | $39.9M | $25.5M | $30.1M | $79.0M | $9.0M | $0 | $0 | $3.3M | $123.0K | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001698991-26-000018.
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