Financials Monarch Casino & Resort, Inc.

Equities

MCRI

US6090271072

Casinos & Gaming

Market Closed - Nasdaq Other stock markets 01:30:00 27/04/2024 am IST			5-day change	1st Jan Change
68.07 ^USD	-0.70%		+1.08%	-1.56%

18/04	Macquarie Adjusts Monarch Casino & Resort's Price Target to $76 From $75, Keeps Neutral Rating	MT
18/04	Macquarie Raises Monarch Casino & Resort's Price Target to $76 From $75, Retains Neutral Rating	MT

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	877.9	1,118	1,386	1,458	1,319	1,282	-	-
Enterprise Value (EV) ¹	1,013	1,269	1,440	1,426	1,281	1,185	1,140	1,195
P/E ratio	28.6 x	49 x	20.9 x	17.2 x	16.5 x	15.2 x	14.7 x	14.9 x
Yield	-	-	-	-	8.53%	1.76%	1.76%	1.76%
Capitalization / Revenue	3.52 x	6.06 x	3.5 x	3.05 x	2.63 x	2.5 x	2.45 x	2.38 x
EV / Revenue	4.06 x	6.88 x	3.64 x	2.98 x	2.55 x	2.31 x	2.18 x	2.22 x
EV / EBITDA	16.4 x	29.4 x	10.5 x	8.53 x	7.5 x	6.91 x	6.46 x	6.66 x
EV / FCF	-16.3 x	-22.2 x	17.7 x	14.2 x	10.3 x	10.1 x	9.68 x	-
FCF Yield	-6.13%	-4.51%	5.64%	7.03%	9.69%	9.9%	10.3%	-
Price to Book	2.58 x	3.06 x	3.1 x	2.72 x	2.64 x	2.43 x	2.25 x	2.69 x
Nbr of stocks (in thousands)	18,082	18,263	18,736	18,962	19,068	18,830	-	-
Reference price ²	48.55	61.22	73.95	76.89	69.15	68.07	68.07	68.07
Announcement Date	11/03/20	24/02/21	09/02/22	14/02/23	14/02/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	249.2	184.4	395.4	477.9	501.5	512	524.2	539.4
EBITDA ¹	61.69	43.16	137.3	167.1	170.8	171.5	176.5	179.4
EBIT ¹	39.58	15.27	89.88	111.4	110.2	114.1	119.2	122.3
Operating Margin	15.88%	8.28%	22.73%	23.32%	21.97%	22.29%	22.73%	22.68%
Earnings before Tax (EBT) ¹	39.58	15	85.37	109	108.5	114	119	122.3
Net income ¹	31.82	23.68	68.49	87.48	82.45	88.25	91.77	91.76
Net margin	12.77%	12.84%	17.32%	18.31%	16.44%	17.23%	17.51%	17.01%
EPS ²	1.700	1.250	3.530	4.470	4.200	4.477	4.631	4.556
Free Cash Flow ¹	-62.12	-57.22	81.18	100.3	124	117.3	117.8	-
FCF margin	-24.93%	-31.03%	20.53%	20.99%	24.74%	22.91%	22.46%	-
FCF Conversion (EBITDA)	-	-	59.12%	60.02%	72.61%	68.38%	66.7%	-
FCF Conversion (Net income)	-	-	118.52%	114.65%	150.45%	132.92%	128.31%	-
Dividend per Share ²	-	-	-	-	5.900	1.200	1.200	1.200
Announcement Date	11/03/20	24/02/21	09/02/22	14/02/23	14/02/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1
Net sales ¹	111.6	111.1	108.3	115.3	133.7	120.5	116.6	123.7	133	128.2	121.7	126.4	135.2	128.7	125.4
EBITDA ¹	40.28	39.02	34.34	39.46	51.69	41.59	36.48	42.13	49.22	43	38.55	42.3	48.11	42.57	39.62
EBIT ¹	29.04	25.8	21.35	25.66	36.36	28.08	23.16	29.71	31.9	25.38	23.81	28.29	33.84	28.18	25.33
Operating Margin	26.01%	23.23%	19.71%	22.26%	27.19%	23.29%	19.85%	24.02%	23.99%	19.8%	19.57%	22.39%	25.02%	21.89%	20.19%
Earnings before Tax (EBT) ¹	28.15	25.08	20.7	24.96	35.49	27.88	22.57	28.93	31.53	25.49	23.82	28.26	33.79	28.15	25.19
Net income ¹	22.31	19.87	18.12	19.44	27.49	22.43	17.67	22.41	24.16	18.2	18.28	21.91	26.23	21.82	19.5
Net margin	19.99%	17.89%	16.73%	16.86%	20.56%	18.61%	15.15%	18.12%	18.17%	14.2%	15.02%	17.34%	19.39%	16.95%	15.54%
EPS ²	1.150	1.020	0.9200	0.9900	1.410	1.140	0.9000	1.140	1.230	0.9300	0.9300	1.113	1.329	1.105	0.9854
Dividend per Share ²	-	-	-	-	-	-	5.000	0.3000	0.3000	0.3000	0.3000	0.3000	0.3000	0.3000	0.3000
Announcement Date	25/10/21	09/02/22	20/04/22	20/07/22	19/10/22	14/02/23	19/04/23	19/07/23	18/10/23	14/02/24	17/04/24	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	135	151	54.6	-	-	-	-	-
Net Cash position ¹	-	-	-	32.1	37.9	96.5	141	86.8
Leverage (Debt/EBITDA)	2.186 x	3.507 x	0.3979 x	-	-	-	-	-
Free Cash Flow ¹	-62.1	-57.2	81.2	100	124	117	118	-
ROE (net income / shareholders' equity)	9.91%	6.68%	16.8%	17.7%	15.7%	15.9%	15.3%	17.9%
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-	-	-
Book Value Per Share ²	18.80	20.00	23.90	28.20	26.20	28.00	30.30	25.30
Cash Flow per Share ²	2.500	2.360	5.500	6.690	6.610	7.050	7.020	7.040
Capex ¹	125	88.7	46.9	39.5	48.8	20	20	-
Capex / Sales	50.31%	48.08%	11.87%	8.26%	9.74%	3.91%	3.82%	-
Announcement Date	11/03/20	24/02/21	09/02/22	14/02/23	14/02/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Monarch Casino & Resort, Inc.

Trading Rating

Investor Rating

ESG Refinitiv

D+

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

68.07 USD

Average target price

72.75 USD

Spread / Average Target

+6.88%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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