A Business at a Glance
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Accel Entertainment, Inc.
ACEL
$1.0B
Mkt Cap
$12.03
+0.50%
Accel Entertainment, Inc. (ACEL) has a current P/E ratio of 20.0, compared to its historical median P/E of 26.0. The stock is currently considered Fair based on its historical valuation range.
Accel Entertainment, Inc. (ACEL) has a 5-year average return on invested capital (ROIC) of 21.0%. This indicates strong capital allocation and a potential competitive advantage.
Accel Entertainment, Inc. (ACEL) has a market capitalization of $1.0B. It is classified as a small-cap stock.
Accel Entertainment, Inc. (ACEL) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 3.86%.
Based on historical P/E analysis, Accel Entertainment, Inc. (ACEL) appears fair. The current P/E of 20.0 is 23% below its historical median of 26.0. The estimated fair value CAGR (P/E method) is 40.6%.
Accel Entertainment, Inc. (ACEL) operates in the Services-Amusement & Recreation Services industry, within the Consumer Cyclical sector.
ITEM 1. BUSINESS Who We Are 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.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 1.3B | 1.3B | 1.2B | 1.2B | 970M | 735M |
| Net Income | 51M | 51M | 35M | 46M | 74M | 32M |
| EPS | $0.60 | $0.60 | $0.41 | $0.53 | $0.81 | $0.33 |
| Free Cash Flow | 62M | 62M | 55M | 51M | 61M | 81M |
| ROIC | 12.5% | 23.9% | 18.5% | 30.3% | 15.5% | 16.6% |
| Gross Margin | 31.1% | 31.1% | 29.7% | 30.6% | 30.3% | 32.7% |
| Debt/Equity | 2.39 | 2.39 | 2.47 | 2.88 | 3.17 | 2.27 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 108M | 108M | 91M | 107M | 97M | 70M |
| Operating Margin | 8.1% | 8.1% | 7.4% | 9.2% | 10.0% | 9.6% |
| ROE | 19.1% | 19.6% | 13.8% | 23.0% | 41.5% | 19.9% |
| Shares Outstanding | 86M | 86M | 86M | 86M | 91M | 96M |
| Metric | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||||
| Revenue | 0 | 332M | 429M | 316M | 735M | 970M | 1.2B | 1.2B | 1.3B | 1.3B |
| Gross Margin | N/A | 36.6% | 34.2% | 33.3% | 32.7% | 30.3% | 30.6% | 29.7% | 31.1% | 31.1% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 45M | 58M | 69M | 77M | 111M | 146M | 180M | 195M | 219M | 219M |
| EBIT | 9.5M | 25M | 13M | -25M | 70M | 97M | 107M | 91M | 108M | 108M |
| Op. Margin | N/A | 7.5% | 3.1% | -7.8% | 9.6% | 10.0% | 9.2% | 7.4% | 8.1% | 8.1% |
| Net Income | -376K | 11M | -37M | -13M | 32M | 74M | 46M | 35M | 51M | 51M |
| Net Margin | N/A | 3.3% | -8.6% | -4.1% | 4.3% | 7.6% | 3.9% | 2.9% | 3.9% | 3.9% |
| Non-Recurring | -338K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | ||||||||||
| ROIC | -5.8% | 6.8% | 7.2% | -2.9% | 16.6% | 15.5% | 30.3% | 18.5% | 23.9% | 12.5% |
| ROE | -1.1% | 18.9% | N/A | -10.2% | 19.9% | 41.5% | 23.0% | 13.8% | 19.6% | 19.1% |
| ROA | -0.1% | 3.2% | -7.2% | -2.3% | 5.1% | 8.6% | 5.0% | 3.4% | 4.8% | 4.7% |
| Cash Flow | ||||||||||
| Op. Cash Flow | 33M | 44M | 46M | -3.7M | 111M | 108M | 133M | 121M | 151M | 151M |
| Free Cash Flow | 9.5M | 21M | 25M | -29M | 81M | 61M | 51M | 55M | 62M | 62M |
| Owner Earnings | -125M | 8.4M | -1.0M | -53M | 58M | 72M | 85M | 65M | 86M | 86M |
| CapEx | 24M | 23M | 21M | 26M | 30M | 47M | 82M | 67M | 89M | 89M |
| Maint. CapEx | 157M | 35M | 44M | 44M | 47M | 29M | 38M | 44M | 53M | 53M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 18M | 44M | 23M | 36M | 36M |
| D&A | 157M | 35M | 44M | 44M | 47M | 29M | 38M | 44M | 53M | 53M |
| CapEx/OCF | 71.4% | 52.4% | 45.6% | N/A | 26.9% | 43.9% | 61.7% | 54.9% | 58.9% | 58.9% |
| Capital Allocation | ||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 123K | 3.3M | 0 | 0 | 9.0M | 79M | 30M | 25M | 40M | 40M |
| Buyback Yield | N/A | 0.5% | N/A | N/A | 0.7% | 11.7% | 3.3% | 2.8% | 4.0% | 3.9% |
| Stock-Based Comp | 804K | 453K | 2.2M | 5.5M | 6.4M | 6.8M | 9.4M | 12M | 12M | 12M |
| Debt Repayment | 0 | 533K | 9.4M | 0 | 156K | 0 | 300K | 0 | 4.1M | 4.1M |
| Balance Sheet | ||||||||||
| Net Debt | N/A | 202M | 228M | 224M | 128M | 309M | 48M | 67M | 52M | 348M |
| Cash & Equiv. | 372K | 92M | 125M | 134M | 199M | 224M | 262M | 281M | 297M | 297M |
| Long-Term Debt | N/A | 169M | 335M | 322M | 324M | 519M | 514M | 561M | 570M | 570M |
| Debt/Equity | 9.12 | 5.15 | -8.48 | 2.80 | 2.27 | 3.17 | 2.88 | 2.47 | 2.39 | 2.39 |
| Interest Coverage | 1.2 | 2.6 | 1.0 | -1.8 | 5.5 | 4.5 | 3.2 | 2.5 | 3.2 | 3.2 |
| Equity | 45M | 57M | -43M | 128M | 158M | 179M | 198M | 255M | 270M | 270M |
| Total Assets | 451M | 335M | 509M | 560M | 616M | 863M | 913M | 1.0B | 1.1B | 1.1B |
| Total Liabilities | 406M | 278M | 552M | 432M | 458M | 684M | 516M | 538M | 564M | 564M |
| Intangibles | N/A | 126M | 167M | 168M | 151M | 189M | 176M | 203M | 186M | 186M |
| Retained Earnings | -376K | -17M | -51M | -52M | -20M | 54M | 99M | 135M | 186M | 186M |
| Working Capital | 349K | 16M | 97M | 100M | 176M | 209M | 203M | 208M | 212M | 212M |
| Current Assets | 507K | 102M | 151M | 152M | 248M | 299M | 313M | 326M | 343M | 343M |
| Current Liabilities | 157K | 86M | 55M | 52M | 72M | 90M | 110M | 118M | 131M | 131M |
| Per Share Data | ||||||||||
| EPS | 0.14 | 0.17 | -0.59 | -0.16 | 0.33 | 0.81 | 0.53 | 0.41 | 0.60 | 0.60 |
| Owner EPS | N/A | 0.13 | -0.02 | -0.65 | 0.60 | 0.79 | 0.99 | 0.76 | 1.00 | 1.00 |
| Book Value | N/A | 0.90 | -0.69 | 1.58 | 1.66 | 1.95 | 2.31 | 2.97 | 3.14 | 3.14 |
| Cash Flow/Share | N/A | 0.70 | 0.73 | -0.05 | 1.16 | 1.18 | 1.54 | 1.41 | 1.76 | 1.21 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | N/A | 63.5M | 62.3M | 81.2M | 95.6M | 91.5M | 86.0M | 86.0M | 85.8M | 85.8M |
| Valuation | ||||||||||
| P/E Ratio | 69.6 | 58.8 | N/A | N/A | 39.7 | 9.1 | 19.7 | 26.0 | 19.5 | 20.0 |
| P/FCF | N/A | 30.1 | 31.0 | N/A | 15.5 | 11.2 | 17.7 | 16.7 | 16.2 | 16.7 |
| EV/EBIT | N/A | 33.7 | 74.7 | N/A | 19.7 | 10.2 | 8.8 | 10.8 | 9.8 | 12.8 |
| Price/Book | N/A | 11.1 | N/A | 7.6 | 7.9 | 3.8 | 4.5 | 3.6 | 3.7 | 3.8 |
| Price/Sales | N/A | 1.9 | 1.5 | 3.0 | 1.5 | 1.0 | 0.7 | 0.8 | 0.7 | 0.8 |
| FCF Yield | N/A | 3.3% | 3.2% | -3.0% | 6.5% | 8.9% | 5.7% | 6.0% | 6.2% | 6.0% |
| Market Cap | N/A | 635M | 768M | 969M | 1.3B | 678M | 898M | 915M | 1.0B | 1.0B |
| Avg. Price | 9.76 | 9.93 | 10.38 | 10.35 | 11.79 | 10.76 | 9.94 | 10.93 | 11.06 | 12.03 |
| Year-End Price | 9.75 | 10.00 | 12.32 | 10.44 | 13.10 | 7.41 | 10.44 | 10.64 | 11.70 | 12.03 |
Accel Entertainment, Inc. passes 7 of 9 quality checks, indicating strong fundamentals.
Accel Entertainment, Inc. trades at 20.0x trailing earnings, compared to its 15-year median P/E of 26.0x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 15.8x vs a median of 16.7x. The company's 5-year average ROIC is 21.0% with a gross margin of 30.9%. Total shareholder yield (buybacks) is 3.9%. At current prices, the estimated annualized return to fair value is +20.1%.
Accel Entertainment, Inc. (ACEL) reported annual revenue of $1.3 billion in its most recent fiscal year, based on SEC EDGAR filings.
Accel Entertainment, Inc. (ACEL) has a net profit margin of 3.9%. This is a modest margin.
Accel Entertainment, Inc. (ACEL) generated $62 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Accel Entertainment, Inc. (ACEL) has a debt-to-equity ratio of 2.39. This indicates higher leverage, which may increase financial risk.
Accel Entertainment, Inc. (ACEL) reported earnings per share (EPS) of $0.60 in its most recent fiscal year.
Accel Entertainment, Inc. (ACEL) has a return on equity (ROE) of 19.6%. This indicates the company generates strong returns for shareholders.
Accel Entertainment, Inc. (ACEL) has a 5-year average gross margin of 30.9%. This indicates decent pricing power.
The Ledger Terminal provides 9 years of financial data for Accel Entertainment, Inc. (ACEL), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Accel Entertainment, Inc. (ACEL) has a book value per share of $3.14, based on its most recent annual SEC filing.