Accel Entertainment (ACEL) Financials

$10.50 +0.04 (+0.33%)

Closing price 10/23/2025 03:59 PM Eastern

Extended Trading

$10.52 +0.03 (+0.29%)

As of 10/23/2025 05:46 PM Eastern

Annual Income Statements for Accel Entertainment

This table shows Accel Entertainment's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	8.31	11	-37	-0.41	32	74	46	35
Consolidated Net Income / (Loss)	8.31	11	-37	-0.41	32	74	46	35
Net Income / (Loss) Continuing Operations	8.31	11	-37	-0.41	32	74	46	35
Total Pre-Tax Income	10	15	-32	-17	47	95	66	54
Total Operating Income	18	25	13	-25	70	97	107	91
Total Gross Profit	248	118	147	316	735	965	1,163	1,224
Total Revenue	248	335	429	316	735	970	1,170	1,231
Total Cost of Revenue	0.00	217	282	0.00	0.00	4.78	7.67	7.10
Operating Cost of Revenue	-	217	282	-	0.00	4.78	7.67	7.10
Total Operating Expenses	230	93	133	341	665	868	1,055	1,133
Selling, General & Admin Expense	47	57	89	77	124	155	187	214
Depreciation Expense	17	21	26	21	25	29	38	44
Amortization Expense	9.79	15	18	211	516	684	831	875
Total Other Income / (Expense), net	-8.11	-9.64	-45	7.35	-24	-2.09	-42	-37
Interest & Investment Income	-	-	-13	-14	-13	-22	-33	-36
Other Income / (Expense), net	-	0.00	-31	21	-9.76	20	-8.54	-1.26
Income Tax Expense	1.75	4.42	5.20	-17	15	21	20	18
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	-	-	-	0.00	0.00	0.04
Basic Earnings per Share	$0.15	$0.19	($0.59)	$0.00	$0.34	$0.82	$0.53	$0.42
Weighted Average Basic Shares Outstanding	56.32M	57.62M	61.85M	83.05M	93.78M	90.63M	85.95M	83.75M
Diluted Earnings per Share	$0.14	$0.17	($0.59)	($0.02)	$0.33	$0.81	$0.53	$0.41
Weighted Average Diluted Shares Outstanding	59.41M	62.18M	61.85M	83.11M	94.64M	91.23M	86.80M	84.98M
Weighted Average Basic & Diluted Shares Outstanding	-	56.25M	78.23M	93.38M	92.77M	86.67M	83.80M	85.56M

This table shows Accel Entertainment's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Income / (Loss) Attributable to Common Shareholders	13	9.18	9.98	10	16	7.42	15	4.90	8.36	15	7.32
Consolidated Net Income / (Loss)	13	9.18	9.98	10	16	7.42	15	4.90	8.39	15	7.26
Net Income / (Loss) Continuing Operations	13	9.18	9.98	10	16	7.42	15	4.90	8.39	15	7.26
Total Pre-Tax Income	18	15	16	15	19	12	19	8.46	15	20	12
Total Operating Income	25	28	29	25	25	26	23	22	21	26	27
Total Gross Profit	276	292	290	285	295	301	306	301	316	322	335
Total Revenue	278	293	293	287	297	302	309	302	318	324	336
Total Cost of Revenue	2.35	1.41	2.15	2.07	2.04	1.16	3.16	0.96	1.82	2.08	0.89
Operating Cost of Revenue	-	1.41	2.15	2.07	2.04	1.16	3.16	0.96	1.82	2.08	0.89
Total Operating Expenses	251	264	261	260	270	275	284	279	295	296	308
Selling, General & Admin Expense	46	46	44	47	49	50	54	52	58	56	59
Depreciation Expense	8.72	9.06	9.45	9.41	9.99	10	11	11	12	12	13
Amortization Expense	202	209	208	204	210	215	219	217	225	228	236
Total Other Income / (Expense), net	-7.56	-12	-13	-10	-6.07	-13	-4.16	-13	-6.23	-6.35	-15
Interest & Investment Income	-7.61	-7.89	-8.24	-8.42	-8.60	-8.66	-8.91	-9.17	-9.16	-8.70	-8.79
Other Income / (Expense), net	0.05	-4.60	-4.84	-1.63	2.52	-4.72	4.74	-4.22	2.93	2.36	-5.73
Income Tax Expense	4.13	6.00	6.10	4.63	3.39	4.77	3.93	3.57	6.17	4.99	5.09
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	-	-	-	0.00	0.00	-	-	-0.03	-0.05
Basic Earnings per Share	$0.16	$0.11	$0.12	$0.12	$0.18	$0.09	$0.17	$0.06	$0.10	$0.17	$0.09
Weighted Average Basic Shares Outstanding	90.63M	86.89M	86.18M	85.87M	85.95M	84.30M	83.91M	82.95M	83.75M	86.00M	85.71M
Diluted Earnings per Share	$0.15	$0.11	$0.11	$0.12	$0.19	$0.09	$0.17	$0.06	$0.09	$0.17	$0.08
Weighted Average Diluted Shares Outstanding	91.23M	87.13M	86.82M	87.11M	86.80M	85.30M	85.05M	84.32M	84.98M	87.22M	86.94M
Weighted Average Basic & Diluted Shares Outstanding	86.67M	86.01M	85.62M	84.80M	83.80M	83.75M	82.63M	82.34M	85.56M	84.64M	84.29M

This table details how cash moves in and out of Accel Entertainment's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	-40	17	33	9.05	64	25	37	20
Net Cash From Operating Activities	33	44	46	-3.71	111	108	133	121
Net Cash From Continuing Operating Activities	23	45	46	-3.71	111	108	133	121
Net Income / (Loss) Continuing Operations	8.31	11	-37	-0.41	32	74	46	35
Consolidated Net Income / (Loss)	8.31	11	-37	-0.41	32	74	46	35
Depreciation Expense	17	21	26	21	25	29	38	44
Amortization Expense	0.28	15	19	25	24	20	23	24
Non-Cash Adjustments To Reconcile Net Income	-0.94	-0.93	32	-16	15	-18	12	9.85
Changes in Operating Assets and Liabilities, net	-1.51	-1.20	4.85	-33	16	3.02	14	7.72
Net Cash From Investing Activities	-71	-74	-152	-61	-35	-189	-60	-124
Net Cash From Continuing Investing Activities	-71	-74	-152	-61	-35	-189	-60	-124
Purchase of Property, Plant & Equipment	-24	-23	-21	-26	-30	-47	-82	-67
Acquisitions	-48	-51	-101	-36	-6.20	-144	-12	-59
Sale of Property, Plant & Equipment	0.26	1.17	0.12	0.39	1.41	2.14	1.68	0.98
Other Investing Activities, net	-	0.00	0.00	-0.30	0.00	0.00	32	0.00
Net Cash From Financing Activities	59	46	139	74	-12	107	-35	23
Net Cash From Continuing Financing Activities	8.08	46	139	74	-12	107	-35	23
Repayment of Debt	-12	-74	-313	-120	-56	-45	-169	-123
Repurchase of Common Equity	-0.12	-3.34	0.00	0.00	-8.98	-79	-30	-25
Issuance of Debt	19	124	419	49	54	240	169	175
Other Financing Activities, net	-0.15	-0.35	33	55	-1.18	-9.78	-4.87	-3.85
Cash Interest Paid	6.22	8.72	12	13	9.65	20	30	33
Cash Income Taxes Paid	0.00	1.59	1.76	0.00	8.59	7.66	12	22

This table details how cash moves in and out of Accel Entertainment's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Change in Cash & Equivalents	12	4.42	4.91	-3.05	31	-7.69	1.00	10	16	-9.37	-7.31
Net Cash From Operating Activities	30	38	26	28	41	29	29	50	14	45	20
Net Cash From Continuing Operating Activities	30	38	26	28	41	29	29	50	14	45	20
Net Income / (Loss) Continuing Operations	13	9.18	9.98	10	16	7.42	15	4.90	8.39	15	7.26
Consolidated Net Income / (Loss)	13	9.18	9.98	10	16	7.42	15	4.90	8.39	15	7.26
Depreciation Expense	8.72	9.06	9.45	9.41	9.99	10	11	11	12	12	13
Amortization Expense	5.66	5.69	5.73	5.76	5.85	5.89	6.04	6.23	6.21	6.73	6.75
Non-Cash Adjustments To Reconcile Net Income	-0.83	5.70	5.73	3.29	-3.05	4.46	-2.36	6.77	0.62	-0.58	6.09
Changes in Operating Assets and Liabilities, net	2.79	8.34	-5.02	-0.74	12	0.54	-0.20	21	-13	12	-13
Net Cash From Investing Activities	-20	-24	7.34	-19	-24	-26	-43	-21	-34	-26	-34
Net Cash From Continuing Investing Activities	-20	-24	7.34	-19	-24	-26	-43	-21	-34	-26	-34
Purchase of Property, Plant & Equipment	-14	-21	-20	-19	-22	-21	-18	-17	-11	-27	-26
Acquisitions	-6.40	-2.60	-5.22	-0.90	-3.08	-5.44	-26	-4.32	-23	-0.13	-9.72
Sale of Property, Plant & Equipment	0.41	0.48	0.67	0.32	0.22	0.18	0.15	0.36	0.30	0.69	0.48
Net Cash From Financing Activities	2.69	-9.98	-28	-12	15	-11	16	-19	37	-28	6.66
Net Cash From Continuing Financing Activities	2.69	-9.98	-28	-12	15	-11	16	-19	37	-28	6.66
Repayment of Debt	-21	-13	-127	-14	-16	-18	-6.88	-14	-84	-15	-49
Repurchase of Common Equity	-17	-4.21	-8.11	-3.34	-14	-6.12	-9.20	-6.15	-4.02	-10	-6.71
Issuance of Debt	41	8.00	107	8.00	46	15	33	2.00	126	0.00	64
Other Financing Activities, net	-0.60	-1.15	-0.57	-2.78	-0.37	-1.55	-0.86	-0.96	-0.49	-2.87	-1.26
Cash Interest Paid	7.98	9.28	5.76	7.55	7.66	7.69	8.23	8.63	8.22	8.07	7.95
Cash Income Taxes Paid	0.62	0.00	6.20	1.38	4.17	0.00	11	3.63	7.47	0.00	16

This table presents Accel Entertainment's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	451	335	509	560	616	863	913	1,048
Total Current Assets	0.51	102	151	152	248	299	313	326
Cash & Equivalents	0.37	92	125	134	199	224	262	281
Accounts Receivable	-	-	-	-	5.12	11	13	11
Inventories, net	-	-	-	-	0.00	6.94	7.68	8.12
Prepaid Expenses	0.13	2.54	4.15	5.55	7.00	7.41	6.29	8.95
Other Current Assets	-	5.14	7.03	8.64	5.03	18	24	17
Plant, Property, & Equipment, net	0.00	92	119	144	152	212	261	308
Total Noncurrent Assets	450	141	239	265	216	352	339	414
Goodwill	-	0.00	35	46	46	101	102	116
Intangible Assets	-	126	167	168	151	231	200	257
Other Noncurrent Operating Assets	450	15	18	17	19	20	38	41
Total Liabilities & Shareholders' Equity	451	335	509	560	616	863	913	1,048
Total Liabilities	16	278	424	432	458	684	714	789
Total Current Liabilities	0.16	86	55	52	72	90	110	118
Short-Term Debt	-	66	25	21	31	31	32	38
Accounts Payable	-	12	17	24	15	22	36	42
Accrued Expenses	0.16	6.06	8.44	0.00	15	24	28	25
Current Employee Benefit Liabilities	-	-	2.40	5.85	8.89	11	13	12
Other Current Liabilities	-	1.82	1.70	1.61	2.08	1.49	1.51	2.20
Total Noncurrent Liabilities	16	192	369	380	386	594	605	671
Long-Term Debt	-	169	335	322	324	519	514	561
Noncurrent Deferred & Payable Income Tax Liabilities	-	8.90	13	0.00	2.25	37	43	47
Other Noncurrent Operating Liabilities	16	14	21	58	60	39	48	62
Redeemable Noncontrolling Interest	430	-	-	-	-	-	0.00	4.28
Total Equity & Noncontrolling Interests	5.00	57	-43	128	158	179	198	255
Total Preferred & Common Equity	5.00	57	-43	128	158	179	198	255
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	5.00	57	-43	128	158	179	198	255
Common Stock	5.38	80	8.36	180	188	194	203	222
Retained Earnings	-0.38	-17	-51	-52	-20	54	99	135
Treasury Stock	-	-5.83	-	0.00	-8.98	-82	-112	-105
Accumulated Other Comprehensive Income / (Loss)	-	-	0.00	0.09	0.00	12	7.94	4.15

This table presents Accel Entertainment's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q2 2022	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025
Period end date	6/30/2022	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025
Total Assets	817	838	870	863	871	919	950	950	1,047	1,056
Total Current Assets	288	284	299	281	283	309	322	323	316	310
Cash & Equivalents	220	212	229	233	230	254	255	265	272	265
Accounts Receivable	9.21	8.85	7.74	9.71	13	14	15	7.83	13	12
Inventories, net	6.14	6.87	7.48	7.31	6.78	7.84	7.53	9.09	8.56	9.69
Prepaid Expenses	8.36	7.83	7.08	8.01	8.03	8.09	8.77	8.17	8.61	8.72
Other Current Assets	10	15	16	22	24	26	36	33	15	15
Plant, Property, & Equipment, net	190	207	226	236	246	271	276	282	322	328
Total Noncurrent Assets	339	348	345	347	343	338	352	345	409	418
Goodwill	99	99	102	102	102	102	102	102	116	116
Intangible Assets	209	213	207	204	199	193	201	196	251	255
Other Noncurrent Operating Assets	31	35	36	41	43	44	49	47	42	47
Total Liabilities & Shareholders' Equity	817	838	870	863	871	919	950	950	1,047	1,056
Total Liabilities	643	657	688	675	673	717	741	743	784	792
Total Current Liabilities	86	93	93	93	92	109	106	119	131	117
Short-Term Debt	35	36	31	36	34	31	32	31	37	37
Accounts Payable	22	22	28	25	23	39	34	36	52	37
Accrued Expenses	16	21	25	23	25	28	26	39	30	27
Current Employee Benefit Liabilities	9.06	10	6.70	8.04	9.19	8.90	11	10	8.86	13
Other Current Liabilities	2.79	3.04	1.51	1.50	1.48	1.48	2.01	2.12	2.22	2.58
Total Noncurrent Liabilities	557	565	595	582	580	608	636	624	653	674
Long-Term Debt	479	498	514	490	484	511	537	526	546	561
Noncurrent Deferred & Payable Income Tax Liabilities	29	35	39	43	46	44	42	38	46	44
Other Noncurrent Operating Liabilities	49	32	42	49	50	53	56	60	61	69
Redeemable Noncontrolling Interest	-	-	-	-	-	-	-	-	4.25	4.20
Total Equity & Noncontrolling Interests	174	181	182	189	199	202	209	207	259	261
Total Preferred & Common Equity	174	181	182	189	199	202	209	207	259	261
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	174	181	182	189	199	202	209	207	259	261
Common Stock	191	192	195	198	201	204	207	210	222	224
Retained Earnings	18	40	63	73	83	107	121	126	149	157
Treasury Stock	-42	-65	-86	-94	-98	-118	-128	-134	-116	-123
Accumulated Other Comprehensive Income / (Loss)	6.77	13	10	12	12	9.02	7.94	3.87	3.01	2.18

This table displays calculated financial ratios and metrics derived from Accel Entertainment's official financial filings.

Metric	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	34.88%	27.94%	-26.21%	132.24%	32.00%	20.69%	5.17%
EBITDA Growth	0.00%	72.41%	-54.77%	53.00%	159.89%	51.36%	-3.32%	-1.14%
EBIT Growth	0.00%	36.87%	-170.63%	79.38%	1,768.88%	92.62%	-15.06%	-9.35%
NOPAT Growth	0.00%	17.61%	-47.10%	-285.06%	375.31%	59.25%	-1.60%	-19.90%
Net Income Growth	0.00%	29.98%	-440.31%	98.88%	7,797.32%	134.80%	-38.46%	-22.61%
EPS Growth	0.00%	21.43%	-447.06%	96.61%	1,750.00%	145.45%	-34.57%	-22.64%
Operating Cash Flow Growth	0.00%	33.98%	2.76%	-108.13%	3,089.34%	-2.49%	22.71%	-8.55%
Free Cash Flow Firm Growth	0.00%	0.00%	-132.24%	58.69%	312.76%	-259.17%	156.17%	-153.39%
Invested Capital Growth	0.00%	-54.09%	45.51%	5.64%	-7.83%	67.13%	2.24%	19.44%
Revenue Q/Q Growth	0.00%	0.00%	-2.42%	-44.14%	19.11%	9.70%	1.65%	1.69%
EBITDA Q/Q Growth	0.00%	0.00%	-22.80%	14.44%	25.35%	10.28%	2.76%	-1.33%
EBIT Q/Q Growth	0.00%	0.00%	-149.37%	61.84%	67.17%	10.41%	2.95%	-4.53%
NOPAT Q/Q Growth	0.00%	0.00%	-73.76%	-160.08%	62.83%	10.25%	3.37%	-14.70%
Net Income Q/Q Growth	0.00%	0.00%	-427.85%	98.79%	94.41%	9.78%	6.00%	-17.71%
EPS Q/Q Growth	0.00%	0.00%	-447.06%	96.61%	106.25%	10.96%	8.16%	-19.61%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	-49.24%	-191.91%	52.89%	-0.68%	8.85%	-18.22%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	-133.51%	72.71%	-0.46%	12.03%	-159.32%
Invested Capital Q/Q Growth	0.00%	0.00%	-28.93%	1.74%	-2.26%	0.22%	-0.70%	15.66%
Profitability Metrics	-	-	-	-	-	-	-	-
Gross Margin	100.00%	35.10%	34.22%	100.00%	100.00%	99.51%	99.34%	99.42%
EBITDA Margin	14.18%	18.12%	6.41%	13.28%	14.86%	17.04%	13.65%	12.83%
Operating Margin	7.31%	7.42%	3.11%	-7.80%	9.55%	9.99%	9.18%	7.38%
EBIT Margin	7.31%	7.42%	-4.10%	-1.14%	8.23%	12.00%	8.45%	7.28%
Profit (Net Income) Margin	3.35%	3.22%	-8.58%	-0.13%	4.30%	7.64%	3.90%	2.87%
Tax Burden Percent	82.57%	70.96%	116.47%	2.37%	67.76%	78.20%	69.39%	65.68%
Interest Burden Percent	55.39%	61.22%	179.71%	478.54%	77.07%	81.41%	66.48%	59.95%
Effective Tax Rate	17.43%	29.04%	0.00%	0.00%	32.24%	21.80%	30.61%	34.32%
Return on Invested Capital (ROIC)	3.46%	5.57%	3.81%	-5.79%	16.15%	20.07%	15.61%	11.27%
ROIC Less NNEP Spread (ROIC-NNEP)	1,802.18%	-4.08%	-15.58%	0.80%	5.58%	19.29%	5.60%	3.16%
Return on Net Nonoperating Assets (RNNOA)	-1.54%	-1.18%	-524.99%	4.83%	5.89%	23.90%	8.58%	4.15%
Return on Equity (ROE)	1.91%	4.39%	-521.18%	-0.97%	22.04%	43.97%	24.19%	15.42%
Cash Return on Invested Capital (CROIC)	0.00%	79.70%	-33.26%	-11.27%	24.30%	-30.18%	13.40%	-6.45%
Operating Return on Assets (OROA)	4.03%	6.33%	-4.16%	-0.68%	10.27%	15.74%	11.14%	9.14%
Return on Assets (ROA)	1.84%	2.75%	-8.71%	-0.08%	5.37%	10.02%	5.14%	3.60%
Return on Common Equity (ROCE)	0.02%	0.56%	-521.18%	-0.97%	22.04%	43.97%	24.19%	15.28%
Return on Equity Simple (ROE_SIMPLE)	166.22%	18.91%	85.48%	-0.32%	19.92%	41.49%	22.98%	13.84%
Net Operating Profit after Tax (NOPAT)	15	18	9.34	-17	48	76	75	60
NOPAT Margin	6.04%	5.27%	2.18%	-5.46%	6.47%	7.81%	6.37%	4.85%
Net Nonoperating Expense Percent (NNEP)	-1,798.72%	9.65%	19.40%	-6.59%	10.58%	0.78%	10.01%	8.12%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	10.40%	10.01%	6.99%
Cost of Revenue to Revenue	0.00%	64.90%	65.78%	0.00%	0.00%	0.49%	0.66%	0.58%
SG&A Expenses to Revenue	18.80%	17.10%	20.76%	24.47%	16.85%	16.01%	15.95%	17.39%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	92.69%	27.68%	31.11%	107.80%	90.45%	89.52%	90.17%	92.04%
Earnings before Interest and Taxes (EBIT)	18	25	-18	-3.62	60	116	99	90
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	35	61	27	42	109	165	160	158
Valuation Ratios	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	109.46	9.85	0.00	7.37	7.73	3.77	4.39	3.45
Price to Tangible Book Value (P/TBV)	109.46	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	2.20	1.68	1.55	2.98	1.67	0.69	0.74	0.71
Price to Earnings (P/E)	65.85	52.07	0.00	0.00	38.81	9.09	19.10	24.95
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	1.52%	1.92%	0.00%	0.00%	2.58%	11.00%	5.24%	4.01%
Enterprise Value to Invested Capital (EV/IC)	2.25	3.53	2.99	3.66	4.77	2.05	2.39	2.08
Enterprise Value to Revenue (EV/Rev)	3.93	2.10	2.02	3.54	1.84	1.00	0.99	0.98
Enterprise Value to EBITDA (EV/EBITDA)	27.73	11.61	31.57	26.67	12.35	5.85	7.23	7.60
Enterprise Value to EBIT (EV/EBIT)	53.74	28.34	0.00	0.00	22.32	8.31	11.68	13.40
Enterprise Value to NOPAT (EV/NOPAT)	65.09	39.94	92.89	0.00	28.36	12.77	15.50	20.12
Enterprise Value to Operating Cash Flow (EV/OCF)	29.51	15.89	19.03	0.00	12.18	8.95	8.72	9.91
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	2.79	0.00	0.00	18.85	0.00	18.06	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-
Debt to Equity	0.00	4.11	-8.37	2.68	2.24	3.08	2.75	2.31
Long-Term Debt to Equity	0.00	2.96	-7.78	2.52	2.04	2.90	2.59	2.16
Financial Leverage	0.00	0.29	33.70	6.03	1.06	1.24	1.53	1.31
Leverage Ratio	1.04	1.60	59.86	12.60	4.11	4.39	4.71	4.29
Compound Leverage Factor	0.57	0.98	107.58	60.31	3.17	3.57	3.13	2.57
Debt to Total Capital	0.00%	80.41%	113.57%	72.85%	69.13%	75.48%	73.34%	69.77%
Short-Term Debt to Total Capital	0.00%	22.49%	7.98%	4.51%	6.01%	4.27%	4.27%	4.38%
Long-Term Debt to Total Capital	0.00%	57.92%	105.59%	68.34%	63.12%	71.21%	69.07%	65.39%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	98.85%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.50%
Common Equity to Total Capital	1.15%	19.59%	-13.57%	27.15%	30.87%	24.52%	26.66%	29.73%
Debt to EBITDA	0.00	3.86	13.11	8.17	3.25	3.33	3.42	3.79
Net Debt to EBITDA	0.00	2.34	7.45	4.25	1.14	1.78	1.78	2.01
Long-Term Debt to EBITDA	0.00	2.78	12.19	7.66	2.97	3.14	3.22	3.55
Debt to NOPAT	0.00	13.29	38.56	-19.86	7.46	7.26	7.32	10.03
Net Debt to NOPAT	0.00	8.06	21.92	-10.34	2.61	3.88	3.81	5.31
Long-Term Debt to NOPAT	0.00	9.57	35.85	-18.63	6.81	6.85	6.90	9.40
Altman Z-Score	21.33	2.44	1.75	1.93	3.42	2.54	2.79	2.54
Noncontrolling Interest Sharing Ratio	98.85%	87.37%	0.00%	0.00%	0.00%	0.00%	0.00%	0.93%
Liquidity Ratios	-	-	-	-	-	-	-	-
Current Ratio	3.22	1.19	2.76	2.90	3.45	3.33	2.85	2.76
Quick Ratio	2.36	1.07	2.48	2.57	3.28	2.97	2.51	2.47
Cash Flow Metrics	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	253	-81	-34	72	-114	64	-34
Operating Cash Flow to CapEx	141.64%	200.89%	220.39%	-14.61%	390.70%	238.75%	165.53%	184.87%
Free Cash Flow to Firm to Interest Expense	0.00	26.18	-71.34	0.00	62.10	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	4.08	4.60	39.93	0.00	96.14	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	1.20	2.31	21.81	0.00	71.53	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-
Asset Turnover	0.55	0.85	1.02	0.59	1.25	1.31	1.32	1.26
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	119.09	95.03	102.51
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	1.05	0.90
Fixed Asset Turnover	0.00	0.00	4.05	2.41	4.97	5.33	4.95	4.33
Accounts Payable Turnover	0.00	0.00	19.10	0.00	0.00	0.26	0.26	0.18
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	3.06	3.84	3.56
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	347.87	406.20
Days Payable Outstanding (DPO)	0.00	0.00	19.11	0.00	0.00	1,411.00	1,387.34	2,003.80
Cash Conversion Cycle (CCC)	0.00	0.00	-19.11	0.00	0.00	-1,407.94	-1,035.63	-1,594.03
Capital & Investment Metrics	-	-	-	-	-	-	-	-
Invested Capital	434	199	290	306	282	472	483	576
Invested Capital Turnover	0.57	1.06	1.75	1.06	2.50	2.57	2.45	2.32
Increase / (Decrease) in Invested Capital	0.00	-235	91	16	-24	190	11	94
Enterprise Value (EV)	977	705	867	1,121	1,349	967	1,155	1,201
Market Capitalization	547	563	663	942	1,225	673	871	879
Book Value per Share	$0.09	$1.02	($0.81)	$1.37	$1.68	$2.04	$2.34	$3.10
Tangible Book Value per Share	$0.09	($1.23)	($4.61)	($0.92)	($0.41)	($1.75)	($1.21)	($1.43)
Total Capital	435	292	317	471	513	728	744	858
Total Debt	0.00	234	360	343	355	550	546	598
Total Long-Term Debt	0.00	169	335	322	324	519	514	561
Net Debt	-0.37	142	205	179	124	294	284	317
Capital Expenditures (CapEx)	23	22	21	25	28	45	80	66
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-0.02	-11	-15	-14	-24	-16	-27	-36
Debt-free Net Working Capital (DFNWC)	0.35	82	122	121	207	240	235	245
Net Working Capital (NWC)	0.35	16	97	100	176	209	203	208
Net Nonoperating Expense (NNE)	6.69	6.84	46	-17	16	1.64	29	24
Net Nonoperating Obligations (NNO)	-0.37	142	333	179	124	294	284	317
Total Depreciation and Amortization (D&A)	17	36	45	46	49	49	61	68
Debt-free, Cash-free Net Working Capital to Revenue	-0.01%	-3.14%	-3.40%	-4.30%	-3.25%	-1.62%	-2.30%	-2.92%
Debt-free Net Working Capital to Revenue	0.14%	24.39%	28.42%	38.20%	28.18%	24.79%	20.05%	19.93%
Net Working Capital to Revenue	0.14%	4.81%	22.52%	31.48%	23.98%	21.58%	17.34%	16.88%
Earnings Adjustments	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	($0.09)	$0.00	$0.34	$0.82	$0.53	$0.42
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	61.85M	0.00	93.78M	90.63M	85.95M	83.75M
Adjusted Diluted Earnings per Share	$0.00	$0.00	($0.09)	$0.00	$0.33	$0.81	$0.53	$0.41
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	61.85M	0.00	94.64M	91.23M	86.80M	84.98M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	78.23M	0.00	92.77M	86.67M	83.80M	85.56M
Normalized Net Operating Profit after Tax (NOPAT)	15	18	9.34	-1.45	48	76	75	60
Normalized NOPAT Margin	6.04%	5.27%	2.18%	-0.46%	6.47%	7.81%	6.37%	4.85%
Pre Tax Income Margin	4.05%	4.54%	-7.36%	-5.48%	6.34%	9.77%	5.62%	4.36%
Debt Service Ratios	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.24	2.58	-15.39	0.00	52.46	0.00	0.00	0.00
NOPAT to Interest Expense	1.85	1.83	8.18	0.00	41.29	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	-0.64	0.29	-33.51	0.00	27.85	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	-1.03	-0.46	-9.94	0.00	16.68	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	1.48%	30.95%	0.00%	0.00%	28.46%	106.61%	65.94%	72.24%

This table displays calculated financial ratios and metrics derived from Accel Entertainment's official financial filings.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	44.59%	48.92%	28.43%	7.69%	6.83%	2.94%	5.73%	5.12%	6.88%	7.32%	8.56%
EBITDA Growth	63.87%	9.19%	-9.77%	-18.36%	10.85%	-1.73%	12.04%	-9.83%	-4.86%	27.34%	-7.39%
EBIT Growth	77.45%	-6.31%	-26.36%	-30.07%	11.27%	-9.65%	12.73%	-24.97%	-15.20%	35.81%	-22.92%
NOPAT Growth	66.03%	3.08%	-13.73%	-8.69%	9.46%	-7.04%	-1.30%	-27.42%	-42.92%	24.33%	-11.56%
Net Income Growth	96.97%	-41.84%	-55.56%	-53.44%	19.26%	-19.23%	46.11%	-53.16%	-47.50%	97.05%	-50.21%
EPS Growth	114.29%	-35.29%	-54.17%	-52.00%	26.67%	-18.18%	54.55%	-50.00%	-52.63%	88.89%	-52.94%
Operating Cash Flow Growth	-2.44%	72.17%	35.05%	-23.97%	36.22%	-24.31%	11.61%	77.73%	-66.61%	55.66%	-31.39%
Free Cash Flow Firm Growth	-579.58%	-1,157.26%	78.76%	101.48%	106.12%	94.85%	10.43%	-91.05%	-884.37%	-703.50%	-145.91%
Invested Capital Growth	67.13%	59.22%	10.38%	3.18%	2.24%	5.06%	8.77%	2.55%	19.44%	17.17%	14.45%
Revenue Q/Q Growth	4.16%	5.44%	-0.19%	-1.76%	3.33%	1.60%	2.52%	-2.32%	5.06%	2.01%	3.70%
EBITDA Q/Q Growth	-16.52%	-4.30%	4.44%	-2.14%	13.34%	-15.16%	19.07%	-21.24%	19.59%	13.56%	-13.41%
EBIT Q/Q Growth	-25.17%	-8.24%	5.45%	-3.42%	19.07%	-25.49%	31.58%	-35.72%	34.57%	19.32%	-25.32%
NOPAT Q/Q Growth	0.63%	-12.77%	8.15%	-3.83%	20.64%	-25.91%	14.83%	-29.29%	-5.12%	61.36%	-18.32%
Net Income Q/Q Growth	-40.27%	-31.51%	8.72%	4.68%	53.00%	-53.62%	96.68%	-66.44%	71.48%	74.09%	-50.30%
EPS Q/Q Growth	-40.00%	-26.67%	0.00%	9.09%	58.33%	-52.63%	88.89%	-64.71%	50.00%	88.89%	-52.94%
Operating Cash Flow Q/Q Growth	-19.68%	27.68%	-31.91%	8.89%	43.89%	-29.05%	0.40%	73.40%	-72.97%	230.79%	-55.75%
Free Cash Flow Firm Q/Q Growth	-4.57%	7.85%	82.72%	108.88%	332.94%	-177.48%	-200.67%	100.89%	-38,055.95%	20.63%	7.98%
Invested Capital Q/Q Growth	0.22%	-1.02%	2.94%	1.05%	-0.70%	1.71%	6.57%	-4.72%	15.66%	-0.22%	4.09%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	99.15%	99.52%	99.26%	99.28%	99.31%	99.62%	98.98%	99.68%	99.43%	99.36%	99.74%
EBITDA Margin	14.21%	12.90%	13.50%	13.45%	14.75%	12.32%	14.30%	11.53%	13.13%	14.61%	12.20%
Operating Margin	9.02%	9.44%	9.97%	8.74%	8.57%	8.47%	7.33%	7.23%	6.55%	8.01%	8.00%
EBIT Margin	9.04%	7.87%	8.31%	8.17%	9.42%	6.91%	8.86%	5.83%	7.47%	8.74%	6.29%
Profit (Net Income) Margin	4.82%	3.13%	3.41%	3.63%	5.38%	2.46%	4.71%	1.62%	2.64%	4.51%	2.16%
Tax Burden Percent	76.45%	60.48%	62.06%	69.30%	82.51%	60.87%	78.76%	57.83%	57.64%	74.53%	58.79%
Interest Burden Percent	69.75%	65.81%	66.12%	64.18%	69.27%	58.45%	67.53%	48.01%	61.39%	69.26%	58.43%
Effective Tax Rate	23.55%	39.52%	37.94%	30.70%	17.49%	39.13%	21.24%	42.17%	42.36%	25.47%	41.21%
Return on Invested Capital (ROIC)	17.73%	16.00%	15.26%	14.57%	17.33%	12.69%	13.75%	10.28%	8.78%	14.04%	10.73%
ROIC Less NNEP Spread (ROIC-NNEP)	14.97%	12.33%	12.33%	12.16%	15.60%	9.85%	12.67%	7.61%	7.58%	12.46%	8.09%
Return on Net Nonoperating Assets (RNNOA)	18.54%	14.52%	18.84%	18.49%	23.90%	14.68%	19.31%	10.86%	9.96%	16.08%	11.07%
Return on Equity (ROE)	36.27%	30.52%	34.10%	33.06%	41.23%	27.37%	33.06%	21.14%	18.74%	30.12%	21.80%
Cash Return on Invested Capital (CROIC)	-30.18%	-25.16%	6.70%	11.93%	13.40%	10.42%	6.23%	11.69%	-6.45%	-3.92%	-2.59%
Operating Return on Assets (OROA)	11.86%	11.22%	11.19%	11.01%	12.41%	9.10%	11.69%	7.75%	9.38%	11.14%	8.03%
Return on Assets (ROA)	6.32%	4.47%	4.59%	4.90%	7.10%	3.24%	6.22%	2.15%	3.32%	5.75%	2.76%
Return on Common Equity (ROCE)	36.27%	30.52%	34.10%	33.06%	41.23%	27.37%	33.06%	21.14%	18.56%	29.85%	21.61%
Return on Equity Simple (ROE_SIMPLE)	0.00%	36.99%	29.15%	21.64%	0.00%	21.69%	23.17%	20.75%	0.00%	16.40%	0.00%
Net Operating Profit after Tax (NOPAT)	19	17	18	17	21	16	18	13	12	19	16
NOPAT Margin	6.90%	5.71%	6.19%	6.05%	7.07%	5.15%	5.77%	4.18%	3.78%	5.97%	4.70%
Net Nonoperating Expense Percent (NNEP)	2.77%	3.67%	2.93%	2.41%	1.73%	2.84%	1.08%	2.67%	1.19%	1.57%	2.63%
Return On Investment Capital (ROIC_SIMPLE)	2.63%	-	-	-	2.82%	-	-	-	1.40%	2.29%	1.84%
Cost of Revenue to Revenue	0.85%	0.48%	0.74%	0.72%	0.69%	0.38%	1.02%	0.32%	0.57%	0.64%	0.26%
SG&A Expenses to Revenue	16.65%	15.78%	15.14%	16.30%	16.59%	16.59%	17.41%	17.14%	18.37%	17.23%	17.56%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	90.13%	90.08%	89.30%	90.54%	90.74%	91.15%	91.65%	92.45%	92.88%	91.35%	91.74%
Earnings before Interest and Taxes (EBIT)	25	23	24	23	28	21	27	18	24	28	21
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	40	38	40	39	44	37	44	35	42	47	41
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.77	4.33	4.81	4.72	4.39	4.89	4.11	4.65	3.45	3.28	3.82
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.69	0.74	0.80	0.81	0.74	0.84	0.72	0.79	0.71	0.68	0.78
Price to Earnings (P/E)	9.09	11.70	16.51	21.79	19.10	22.54	17.74	22.39	24.95	19.98	28.30
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	11.00%	8.55%	6.06%	4.59%	5.24%	4.44%	5.64%	4.47%	4.01%	5.00%	3.53%
Enterprise Value to Invested Capital (EV/IC)	2.05	2.30	2.50	2.52	2.39	2.60	2.24	2.51	2.08	2.03	2.23
Enterprise Value to Revenue (EV/Rev)	1.00	1.01	1.06	1.06	0.99	1.08	0.98	1.03	0.98	0.93	1.04
Enterprise Value to EBITDA (EV/EBITDA)	5.85	6.38	7.31	7.88	7.23	8.02	7.16	7.82	7.60	6.93	8.09
Enterprise Value to EBIT (EV/EBIT)	8.31	9.35	11.31	12.75	11.68	13.21	11.76	13.34	13.40	12.00	14.70
Enterprise Value to NOPAT (EV/NOPAT)	12.77	13.76	15.80	16.99	15.50	17.35	15.97	17.89	20.12	18.37	21.86
Enterprise Value to Operating Cash Flow (EV/OCF)	8.95	8.67	9.19	10.06	8.72	10.36	9.29	8.45	9.91	8.49	10.41
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	39.07	21.45	18.06	25.57	37.51	21.75	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	3.08	2.99	2.79	2.60	2.75	2.68	2.72	2.69	2.31	2.22	2.26
Long-Term Debt to Equity	2.90	2.82	2.59	2.43	2.59	2.53	2.57	2.54	2.16	2.08	2.12
Financial Leverage	1.24	1.18	1.53	1.52	1.53	1.49	1.52	1.43	1.31	1.29	1.37
Leverage Ratio	4.39	4.28	4.63	4.50	4.71	4.65	4.56	4.49	4.29	4.22	4.23
Compound Leverage Factor	3.06	2.82	3.06	2.89	3.26	2.72	3.08	2.16	2.63	2.93	2.47
Debt to Total Capital	75.48%	74.93%	73.58%	72.26%	73.34%	72.86%	73.13%	72.93%	69.77%	68.92%	69.34%
Short-Term Debt to Total Capital	4.27%	4.29%	5.03%	4.70%	4.27%	4.20%	4.08%	4.09%	4.38%	4.42%	4.31%
Long-Term Debt to Total Capital	71.21%	70.64%	68.55%	67.56%	69.07%	68.66%	69.05%	68.83%	65.39%	64.50%	65.03%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.50%	0.50%	0.49%
Common Equity to Total Capital	24.52%	25.07%	26.42%	27.75%	26.66%	27.14%	26.87%	27.07%	29.73%	30.58%	30.18%
Debt to EBITDA	3.33	3.24	3.20	3.33	3.42	3.41	3.47	3.48	3.79	3.47	3.63
Net Debt to EBITDA	1.78	1.69	1.78	1.85	1.78	1.81	1.92	1.82	2.01	1.86	2.03
Long-Term Debt to EBITDA	3.14	3.05	2.98	3.11	3.22	3.21	3.28	3.28	3.55	3.25	3.41
Debt to NOPAT	7.26	6.99	6.92	7.18	7.32	7.37	7.75	7.96	10.03	9.21	9.81
Net Debt to NOPAT	3.88	3.65	3.85	3.98	3.81	3.92	4.28	4.17	5.31	4.92	5.47
Long-Term Debt to NOPAT	6.85	6.59	6.45	6.71	6.90	6.95	7.31	7.51	9.40	8.62	9.20
Altman Z-Score	2.19	2.39	2.59	2.64	2.53	2.61	2.50	2.55	2.34	2.35	2.46
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.93%	0.91%	0.89%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	3.33	3.22	3.03	3.07	2.85	2.83	3.05	2.71	2.76	2.42	2.64
Quick Ratio	2.97	2.89	2.62	2.64	2.51	2.45	2.55	2.29	2.47	2.18	2.36
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-170	-157	-27	2.41	10	-8.09	-24	0.22	-82	-65	-60
Operating Cash Flow to CapEx	212.61%	181.00%	132.56%	154.24%	190.17%	140.55%	166.25%	301.84%	121.24%	171.72%	77.49%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.31	1.43	1.35	1.35	1.32	1.32	1.32	1.33	1.26	1.27	1.28
Accounts Receivable Turnover	119.09	0.00	119.50	103.66	95.03	109.79	96.19	114.24	102.51	94.89	95.09
Inventory Turnover	0.00	0.00	1.13	1.17	1.05	0.97	1.14	0.92	0.90	0.98	0.67
Fixed Asset Turnover	5.33	5.57	5.32	5.09	4.95	4.74	4.67	4.59	4.33	4.22	4.23
Accounts Payable Turnover	0.26	0.26	0.32	0.36	0.26	0.22	0.29	0.25	0.18	0.18	0.16
Days Sales Outstanding (DSO)	3.06	0.00	3.05	3.52	3.84	3.32	3.79	3.19	3.56	3.85	3.84
Days Inventory Outstanding (DIO)	0.00	0.00	324.17	312.20	347.87	376.63	321.40	395.29	406.20	373.31	547.50
Days Payable Outstanding (DPO)	1,411.00	1,407.46	1,125.22	1,021.30	1,387.34	1,655.66	1,277.05	1,482.74	2,003.80	2,070.12	2,284.76
Cash Conversion Cycle (CCC)	-1,407.94	-1,407.46	-798.00	-705.58	-1,035.63	-1,275.70	-951.85	-1,084.26	-1,594.03	-1,692.97	-1,733.42
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	472	467	481	486	483	491	523	498	576	575	599
Invested Capital Turnover	2.57	2.80	2.47	2.41	2.45	2.46	2.38	2.46	2.32	2.35	2.28
Increase / (Decrease) in Invested Capital	190	174	45	15	11	24	42	12	94	84	76
Enterprise Value (EV)	967	1,074	1,200	1,225	1,155	1,277	1,173	1,252	1,201	1,165	1,334
Market Capitalization	673	790	908	937	871	988	859	960	879	849	996
Book Value per Share	$2.04	$2.11	$2.19	$2.32	$2.34	$2.41	$2.50	$2.50	$3.10	$3.03	$3.08
Tangible Book Value per Share	($1.75)	($1.46)	($1.35)	($1.19)	($1.21)	($1.10)	($1.12)	($1.10)	($1.43)	($1.26)	($1.31)
Total Capital	728	728	714	716	744	745	778	764	858	847	863
Total Debt	550	545	526	518	546	543	569	557	598	584	599
Total Long-Term Debt	519	514	490	484	514	511	537	526	561	546	561
Net Debt	294	285	292	287	284	289	314	292	317	312	334
Capital Expenditures (CapEx)	14	21	20	18	21	20	17	17	11	26	26
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-16	-23	-9.31	-6.30	-27	-23	-6.71	-30	-36	-49	-35
Debt-free Net Working Capital (DFNWC)	240	238	224	224	235	231	248	235	245	223	230
Net Working Capital (NWC)	209	206	188	190	203	200	216	204	208	186	193
Net Nonoperating Expense (NNE)	5.78	7.55	8.12	6.96	5.01	8.14	3.28	7.74	3.59	4.73	8.54
Net Nonoperating Obligations (NNO)	294	285	292	287	284	289	314	292	317	312	334
Total Depreciation and Amortization (D&A)	14	15	15	15	16	16	17	17	18	19	20
Debt-free, Cash-free Net Working Capital to Revenue	-1.62%	-2.15%	-0.82%	-0.55%	-2.30%	-1.91%	-0.56%	-2.47%	-2.92%	-3.89%	-2.70%
Debt-free Net Working Capital to Revenue	24.79%	22.29%	19.82%	19.46%	20.05%	19.63%	20.76%	19.43%	19.93%	17.81%	17.98%
Net Working Capital to Revenue	21.58%	19.36%	16.64%	16.54%	17.34%	16.97%	18.10%	16.85%	16.88%	14.82%	15.08%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.16	$0.11	$0.12	$0.12	$0.18	$0.09	$0.17	$0.06	$0.10	$0.17	$0.09
Adjusted Weighted Average Basic Shares Outstanding	90.63M	86.89M	86.18M	85.87M	85.95M	84.30M	83.91M	82.95M	83.75M	86.00M	85.71M
Adjusted Diluted Earnings per Share	$0.15	$0.11	$0.11	$0.12	$0.19	$0.09	$0.17	$0.06	$0.09	$0.17	$0.08
Adjusted Weighted Average Diluted Shares Outstanding	91.23M	87.13M	86.82M	87.11M	86.80M	85.30M	85.05M	84.32M	84.98M	87.22M	86.94M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	86.67M	86.01M	85.62M	84.80M	83.80M	83.75M	82.63M	82.34M	85.56M	84.64M	84.29M
Normalized Net Operating Profit after Tax (NOPAT)	19	17	18	17	21	16	18	13	12	19	16
Normalized NOPAT Margin	6.90%	5.71%	6.19%	6.05%	7.07%	5.15%	5.77%	4.18%	3.78%	5.97%	4.70%
Pre Tax Income Margin	6.31%	5.18%	5.50%	5.25%	6.52%	4.04%	5.99%	2.80%	4.59%	6.05%	3.68%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	106.61%	102.63%	98.85%	76.10%	65.94%	72.97%	68.29%	83.69%	72.24%	69.61%	77.04%

Financials Breakdown Chart

Key Financial Trends

Accel Entertainment, Inc. (NYSE: ACEL) has demonstrated consistent revenue growth over the past few years, with total revenue increasing from approximately $228 million in Q2 2022 to about $336 million in Q2 2025. This steady top-line growth highlights the company’s ability to expand its operations successfully and maintain market demand.

Positive financial trends:

Net income attributable to common shareholders has generally increased, rising from about $9.18 million in Q1 2023 to $7.26 million in Q2 2025, though it peaked higher in earlier periods like Q1 2025 with $14.6 million.
Strong and consistent net cash from operating activities, reaching $19.8 million in Q2 2025, indicating solid cash flow generation from core business operations.
Total gross profit remains robust with strong margins; for example, in Q2 2025, gross profit was about $335 million on $336 million in revenues.
Cash and equivalents have increased from $220 million in Q2 2022 to $265 million in Q3 2024 and $264 million by Q2 2025, showing a strong liquidity position.
The company maintains significant investing in property, plant, and equipment each quarter, indicating ongoing investment in growth and infrastructure.

Neutral financial considerations:

Amortization expense is substantial (e.g., $236 million in Q2 2025), reflecting heavy amortization of intangible assets which impacts net income but is a non-cash charge.
Long-term debt remains high, approximately $561 million at the end of Q2 2025, which is stable compared to prior quarters, thus representing ongoing leverage.
Repurchase of common equity remains a regular use of cash, with about $6.7 million spent in Q2 2025, supporting shareholder value but also cash outflows.
Interest expense and related cash interest paid are significant, exceeding $7.9 million in Q2 2025, reflecting debt servicing costs.
Changes in operating assets and liabilities have caused fluctuations in operating cash flow, impacting quarterly cash generation unpredictably.

Negative financial signals or risks:

Net income shows some volatility; in Q2 2025 the net income of $7.26 million was down compared to $14.6 million in Q1 2025, signaling potential earnings pressure.
Investing cash flows are consistently negative, mainly due to capital expenditures and acquisitions, with $33.8 million used in investing activities in Q2 2025.
Net change in cash & equivalents was negative $7.3 million in Q2 2025, indicating that despite operating cash flows, overall liquidity declined possibly due to financing and investing uses.
The company carries a significant debt load, with total liabilities around $791 million at Q2 2025, which may increase financial risk, especially if earnings weaken.
Weighted average diluted shares outstanding have increased gradually, potentially diluting earnings per share impacts over time.

In summary, Accel Entertainment shows a strong revenue and gross profit trend with consistent cash flow from operations. However, high amortization, substantial debt, and investing outflows temper some of the positivity. Earnings volatility and debt levels remain key points for investors to watch as the company balances growth investments with profitability.

10/24/25 01:32 AM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Accel Entertainment's Financials

When does Accel Entertainment's financial year end?

According to the most recent income statement we have on file, Accel Entertainment's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Accel Entertainment's net income changed over the last 7 years?

Accel Entertainment's net income appears to be on an upward trend, with a most recent value of $35.29 million in 2024, rising from $8.31 million in 2017. The previous period was $45.60 million in 2023. Find out what analysts predict for Accel Entertainment in the coming months.

What is Accel Entertainment's operating income?

Accel Entertainment's total operating income in 2024 was $90.88 million, based on the following breakdown:

Total Gross Profit: $1.22 billion
Total Operating Expenses: $1.13 billion

How has Accel Entertainment's revenue changed over the last 7 years?

Over the last 7 years, Accel Entertainment's total revenue changed from $248.44 million in 2017 to $1.23 billion in 2024, a change of 395.5%.

How much debt does Accel Entertainment have?

Accel Entertainment's total liabilities were at $789.09 million at the end of 2024, a 10.4% increase from 2023, and a 4,860.5% increase since 2017.

How much cash does Accel Entertainment have?

In the past 7 years, Accel Entertainment's cash and equivalents has ranged from $372.07 thousand in 2017 to $281.31 million in 2024, and is currently $281.31 million as of their latest financial filing in 2024.

How has Accel Entertainment's book value per share changed over the last 7 years?

Over the last 7 years, Accel Entertainment's book value per share changed from 0.09 in 2017 to 3.10 in 2024, a change of 3,383.8%.

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This page (NYSE:ACEL) was last updated on 10/24/2025 by MarketBeat.com Staff

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Accel Entertainment (ACEL) Financials

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