Accel Entertainment, Inc.

Consumer Discretionary
Services-Misc. Amusement & Recreation
www.accelentertainment.com

Earnings Score
Moat Score
Safety Score

Market Cap $992.94M
PE 23
Debt $584.74M
Cash $265.09M
EV $1.31B
FCF $71.57M

Earnings

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Sales & Net Margins

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Earnings	$42.89M
EBIT	$95.54M
ROE	21%
ROA	10%
FCF	$71.57M
Equity	$206.72M
Growth Stability	-6K%
PE	23.15
PEG	1.68
PB	4.8
P/FCF	13.87
P/S	0.82
Price/Cash	0.27
Debt/Equity	2.83
Debt/FCF	8.17
Net Margins	3%
Gross Margins	99%
Op. Margins	8%
Earnings CAGR	38%
Sales Growth YoY	5%
Sales Growth QoQ	-2%
Sales CAGR	19%
FCF CAGR	11%
Equity CAGR	95%
Earnings Stability	0.21
Earnings Growth YoY	-53%
Earnings Growth QoQ	-66%

Earnings CAGR 5Y	14%
Sales CAGR 5Y	34%
FCF CAGR 5Y	22%
Equity CAGR 5Y	21%
Earnings CAGR 3Y	21%
Sales CAGR 3Y	21%
FCF CAGR 3Y	-14%
Equity CAGR 3Y	10%
Market Cap	$992.94M
Revenue	$1.21B
Assets	$950.21M
Total Debt	$584.74M
Cash	$265.09M
Shares Outstanding	82.95M
EV	1.31B
Earnings Score	12%
Moat Score	85%
Safety Score	39%
Final Score	46%
Working Capital	203.95M
Current Ratio	2.71
Gross Profit	$1.20B
Shares Growth 3y	-4%
Equity Growth QoQ	-1%
Equity Growth YoY	4%

Assets & ROA

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Stockholders Equity & ROE

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Accel Entertainment Inc is a distributed gaming operator in the United States. It is engaged in the installation, maintenance, and operation of video gaming terminals. The company offers products to restaurants, bars, taverns, convenience stores, liquor stores, truck stops, and grocery stores. It operates slot machines and amusement equipment. The company generates a majority of its revenue from video gaming.

SEC Filings

Direct access to Accel Entertainment, Inc. (ACEL) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Accel Entertainment, Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Accel Entertainment, Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 38%

Stability 21%

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Accel Entertainment, Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Accel Entertainment, Inc..

Years

Calculation mode

= $1.5B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$72M	$79M	$88M	$97M	$107M	$119M	$131M	$145M	$161M	$178M	$196M	$2B
DCF		$72M	$72M	$73M	$73M	$74M	$74M	$74M	$75M	$75M	$76M	$757M
Value	$1.5B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	-	-	-1%	-4%	4%	8%	4%	3%
ROA	-	2%	3%	-4%	11%	11%	12%	10%
ROE	-	137%	-7%	-10%	20%	41%	23%	21%

Bad Net Margins (2.94%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	-12.77	15.08	-12.41	4.54	9.38	11.3	8.17
Debt over Equity	-	59.02	4.37	2.86	2.32	3.19	2.89	2.83
Growth Stability	-	-	-	-6K%	-	100%	100%	-6K%

Bad Debt/FCF ratio (8.17)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Bad Debt/Equity ratio (2.83)

The company is overleveraged and has a bad balance between equity and debt.

Bad Graham’s Stability (-6K%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	-	-	-25%	132%	32%	21%	34%
Earnings YoY growth	-	-2K%	-185%	121%	-343%	135%	-38%	14%
Equity YoY growth	-	0%	2K%	50%	24%	13%	11%	21%
FCF YoY growth	-	-4%	-207%	-219%	-375%	-25%	-16%	22%