ACEL

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Accel Entertainment, Inc.

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Key Metrics

Previous Close: $11.99
52-Week Range: $9.55 – $14.00
Market Cap: $982.44M
P/E (TTM): 17.79
EPS (TTM): 0.68
Dividend Yield: —

Advanced Metrics

Price/Book: 3.46
PEG Ratio: —
Return on Equity: 20.47%
Return on Assets: 7.12%
Gross Margin: 31.36%
Operating Margin: 9.39%
Profit Margin: 4.07%
Current Ratio: 2.47
Debt/Equity: 1.99
Total Debt: $573.33M
Free Cash Flow: $69.77M
Revenue Growth: 9.60%
Earnings Growth: 87.50%
Enterprise Value: $1.30B

ACEL Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$969.80M	$1.17B	$1.23B	$1.33B
Cost of Revenue	$670.90M	$817.20M	$859.47M	$913.75M
Gross Profit	$298.90M	$353.23M	$371.50M	$417.21M
Selling, General & Admin	$145.94M	$180.25M	$194.72M	$219.34M
Operating Expenses	$202.04M	$245.82M	$280.62M	$309.36M
Operating Income	$96.86M	$107.41M	$90.88M	$107.85M
EBITDA	$163.18M	$157.99M	$156.18M	$184.28M
Pretax Income	$94.76M	$65.72M	$53.73M	$71.93M
Income Tax	$20.66M	$20.12M	$18.44M	$20.66M
Net Income	$74.10M	$45.60M	$35.25M	$51.47M
Diluted EPS	0.81	0.53	0.41	0.60
Diluted Shares	91.23M	86.80M	84.98M	86.37M

ACEL Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$224.11M	$261.61M	$281.31M	$296.57M
Receivables	$11.17M	$13.47M	$12.18M	$23.32M
Inventory	$6.94M	$7.68M	$8.12M	$8.23M
Current Assets	$299.21M	$312.59M	$326.15M	$343.03M
Total Assets	$862.77M	$912.89M	$1.05B	$1.10B
Current Liabilities	$89.91M	$109.65M	$118.35M	$131.49M
Long-Term Debt	$518.57M	$514.09M	$560.94M	$569.84M
Total Debt	$542.03M	$542.57M	$595.38M	$607.42M
Total Liabilities	$684.18M	$714.49M	$789.09M	$829.63M
Retained Earnings	$53.88M	$99.48M	$134.74M	$186.21M
Shareholders' Equity	$178.59M	$198.40M	$255.03M	$269.68M
Working Capital	$209.31M	$202.94M	$207.80M	$211.54M
Net Debt	$317.92M	$280.96M	$314.07M	$310.85M

ACEL Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$108.00M	$132.53M	$121.19M	$150.88M
Capital Expenditure	-$47.38M	-$81.74M	-$66.54M	-$98.37M
Free Cash Flow	$60.62M	$50.79M	$54.65M	$52.50M
Depreciation & Amortisation	$46.78M	$59.12M	$66.56M	$78.15M
Stock-Based Compensation	$6.84M	$9.42M	$12.20M	$12.21M
Investing Cash Flow	-$189.26M	-$59.79M	-$124.15M	-$100.55M
Financing Cash Flow	$106.59M	-$35.24M	$22.65M	-$35.06M
Share Repurchases	-$79.00M	-$30.07M	-$25.50M	-$39.86M
Net Change in Cash	$25.33M	$37.50M	$19.69M	$15.26M

ACEL Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$323.91M	$335.91M	$329.69M	$341.45M	$351.56M
Cost of Revenue	$223.55M	$230.64M	$226.43M	$233.13M	$242.25M
Gross Profit	$100.36M	$105.27M	$103.27M	$108.32M	$109.31M
Selling, General & Admin	$53.00M	$54.88M	$55.60M	$55.85M	$58.05M
Operating Expenses	$74.41M	$78.39M	$77.91M	$78.65M	$82.23M
Operating Income	$25.95M	$26.87M	$25.36M	$29.66M	$27.08M
EBITDA	$46.88M	$40.54M	$46.15M	$50.71M	$49.19M
Pretax Income	$19.61M	$12.35M	$17.80M	$22.18M	$20.04M
Income Tax	$4.99M	$5.09M	$4.49M	$6.08M	$5.38M
Net Income	$14.64M	$7.32M	$13.36M	$16.15M	$14.67M
Diluted EPS	0.17	0.08	0.16	—	0.17
Diluted Shares	87.22M	86.94M	86.09M	—	84.09M

ACEL Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$271.94M	$264.63M	$290.24M	$296.57M	$274.10M
Receivables	$12.67M	$11.76M	$16.40M	$23.32M	$17.49M
Inventory	$8.56M	$9.69M	$9.56M	$8.23M	$8.56M
Current Assets	$316.49M	$310.18M	$333.63M	$343.03M	$317.34M
Total Assets	$1.05B	$1.06B	$1.09B	$1.10B	$1.07B
Current Liabilities	$130.77M	$117.28M	$129.71M	$131.49M	$117.17M
Long-Term Debt	$546.42M	$561.45M	$565.08M	$569.84M	$550.56M
Total Debt	$580.71M	$595.48M	$595.41M	$607.42M	$580.56M
Total Liabilities	$783.94M	$791.52M	$814.12M	$829.63M	$794.90M
Retained Earnings	$149.38M	$156.69M	$170.05M	$186.21M	$200.88M
Shareholders' Equity	$259.07M	$260.54M	$267.12M	$269.68M	$272.27M
Working Capital	$185.72M	$192.89M	$203.92M	$211.54M	$200.16M
Net Debt	$308.77M	$330.85M	$305.17M	$310.85M	$306.47M

ACEL Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	$44.75M	$19.80M	$55.24M	$31.08M	$42.74M
Capital Expenditure	-$26.75M	-$35.49M	-$21.02M	-$15.11M	-$22.86M
Free Cash Flow	$18.00M	-$15.69M	$34.22M	$15.97M	$19.88M
Depreciation & Amortisation	$18.59M	$19.42M	$19.73M	$20.41M	$20.65M
Stock-Based Compensation	$2.09M	$2.79M	$3.50M	$3.82M	$2.50M
Investing Cash Flow	-$26.19M	-$33.78M	-$20.73M	-$19.86M	-$23.07M
Financing Cash Flow	-$27.93M	$6.66M	-$8.90M	-$4.89M	-$42.15M
Share Repurchases	-$10.20M	-$6.71M	-$6.77M	-$16.18M	-$12.15M
Net Change in Cash	-$9.37M	-$7.31M	$25.61M	$6.33M	-$22.47M

Market Snapshot

About

Accel Entertainment, Inc. is a leading distributed gaming operator in the United States, primarily focused on the Illinois market. The company partners with local establishments such as restaurants, bars, convenience stores, and other locations to install and operate video gaming terminals (VGTs). Accel provides a comprehensive solution including gaming equipment, installation, regulatory compliance, maintenance, and marketing support. The company earns revenue through a share of the net terminal income generated by the machines, creating a mutually beneficial partnership with location owners. Accel has built the largest route network in Illinois, the second-largest video gaming market in the United States. The company also operates amusement devices and ATMs as complementary services. Founded in 2012 and headquartered in Burr Ridge, Illinois, Accel Entertainment went public in 2019. The company benefits from recurring revenue streams, strong unit economics, and expansion opportunities as additional states legalize distributed gaming. Accel's strategy focuses on route density, location relationships, regulatory compliance, and operational excellence in the growing gaming entertainment sector.