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General information

Country: UNITED STATES

Sector: Gambling

Accel Entertainment, Inc. operates as a distributed gaming operator in the United States. It is involved in the installation, maintenance, and operation of video game terminals (VGTs); redemption devices that disburse winnings and contain ATM functionality; and other amusement devices in authorized non-casino locations, such as restaurants, bars, taverns, convenience stores, liquor stores, truck stops, and grocery stores. It also operates stand-alone ATMs in gaming and non-gaming locations. As of June 30, 2020, the company operated 11,108 video gaming terminals across 2,335 locations in the State of Illinois. Accel Entertainment, Inc. is headquartered in Burr Ridge, Illinois.
Website: accelentertainment.com


  • Bad financial results growth rate -40.7% (average between last period year over year growth for revenue and EBITDA), there is slowdown compared to average historical growth rates (64.9%)
  • Dividend yield for the last twelve months 0.0%
  • Free cash flow yield 3.5% (LTM)
  • Share price is 33.7% higher than minimum and 29.2% lower than maximum for the last 3 years
  • The company is undervalued by EV / LTM EBITDA multiple compared to target level (7.8x vs 30.0x)
  • Fundamental value created in LTM (estimate)
  • For the last 3 months insiders sold company shares on $0.1 mln (-0.006% of cap.)

Key Financials (Download financials)

Ticker: ACEL
Share price, USD:  (-0.1%)9.83
year average price 10.65  


year start price 9.44 2023-05-18

min close price 9.16 2023-05-30

max close price 12.01 2023-08-04

current price 9.83 2024-05-16
Common stocks: 84 298 000

Dividend Yield:  0.0%
FCF Yield LTM: 3.5%
EV / LTM EBITDA: 7.8x
EV / EBITDA annualized: 7.7x
Last revenue growth (y/y):  3.1%
Last growth of EBITDA (y/y):  -84.4%
Historical revenue growth:  52.2%
Historical growth of EBITDA:  77.6%
EV / Sales: 0.9x
Margin (EBITDA LTM / Revenue): 12.1%

Target EV / EBITDA (hist percentile): 30.0x
Fundamental value created in LTM:
EV / LTM EBITDA mutiple calculation
Market Cap ($m): 829
Net Debt ($m): 286
EV (Enterprise Value): 1 115
EBITDA LTM (млн $): 143
EV / LTM EBITDA: 7.8x
Price to Book: 4.1x

Revenue and EBITDA

Quarterly values ($m)

Change (y/y)

Cash Flow

FCF ($m)

Net Debt / Cash and Equivalents ($m)

Share price and dividends (Download history)

Share price

Payment USD per share

Multiple and potential

EV / EBITDA

Potential dynamics

More information for subscribed users:
detailed calculation of
Fundamental value created in LTM

Financial reporting

Income Statement

Property 2024 q1 2023 q4 2023 q3 2023 q2 2023 q1 2022 q4 2022 q3
date 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30
symbol ACEL ACEL ACEL ACEL ACEL ACEL ACEL
reportedCurrency USD USD USD USD USD USD USD
cik 2M 2M 2M 2M 2M 2M 2M
fillingDate 2024-05-08 2024-02-28 2023-11-07 2023-08-03 2023-05-03 2023-03-01 2022-11-08
acceptedDate 2024-05-08 16:36:13 2024-02-28 16:33:01 2023-11-07 16:37:28 2023-08-03 16:41:46 2023-05-03 16:37:16 2023-03-01 16:31:48 2022-11-08 16:37:40
calendarYear 2024.000 2023.000 2023.000 2023.000 2023.000 2022.000 2022.000
period Q1 Q4 Q3 Q2 Q1 Q4 Q3
revenue 302M 297M 287M 293M 293M 278M 267M
costOfRevenue 226M 222M 201M 204M 205M 195M 188M
grossProfit 76M 75M 87M 88M 88M 83M 79M
grossProfitRatio 0.251 0.252 0.302 0.301 0.301 0.298 0.298
researchAndDevelopmentExpenses 0 0 0 0 0 0 0
generalAndAdministrativeExpenses 48M 48M 45M 44M 43M 42M 40M
sellingAndMarketingExpenses 0 6M 0 0 0 0 0
sellingGeneralAndAdministrativeExpenses 48M 48M 45M 44M 43M 42M 40M
otherExpenses -2M -1M 18M 17M 18M 15M 16M
operatingExpenses 50M 49M 62M 59M 61M 58M 56M
costAndExpenses 276M 272M 262M 263M 266M 253M 244M
interestIncome 0 0 8M 8M 0 0 0
interestExpense 9M 9M 8M 8M 8M 8M 6M
depreciationAndAmortization 16M 15M 15M 15M 14M 14M 24M
ebitda 41M 41M 40M 44M 42M 51M 47M
ebitdaratio 0.137 0.137 0.139 0.150 0.143 0.184 0.176
operatingIncome 26M 25M 25M 29M 28M 37M 23M
operatingIncomeRatio 0.085 0.086 0.087 0.100 0.094 0.134 0.087
totalOtherIncomeExpensesNet -13M -6M -2M -5M -12M -20M 4M
incomeBeforeTax 12M 19M 15M 16M 15M 18M 27M
incomeBeforeTaxRatio 0.040 0.065 0.052 0.055 0.052 0.063 0.102
incomeTaxExpense 5M 3M 5M 6M 6M 4M 5M
netIncome 7M 16M 10M 10M 9M 13M 22M
netIncomeRatio 0.025 0.054 0.036 0.034 0.031 0.048 0.084
eps 0.088 0.190 0.120 0.120 0.110 0.150 0.250
epsdiluted 0.087 0.190 0.120 0.110 0.110 0.150 0.250
weightedAverageShsOut 84M 85M 86M 87M 87M 91M 90M
weightedAverageShsOutDil 85M 86M 87M 87M 87M 91M 91M
link Link Link Link Link Link Link Link
finalLink Link Link Link Link Link Link Link

Balance Sheet Statement

Property 2024 q1 2023 q4 2023 q3 2023 q2 2023 q1 2022 q4 2022 q3
date 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30
symbol ACEL ACEL ACEL ACEL ACEL ACEL ACEL
reportedCurrency USD USD USD USD USD USD USD
cik 2M 2M 2M 2M 2M 2M 2M
fillingDate 2024-05-08 2024-02-28 2023-11-07 2023-08-03 2023-05-03 2023-03-01 2022-11-08
acceptedDate 2024-05-08 16:36:13 2024-02-28 16:33:01 2023-11-07 16:37:28 2023-08-03 16:41:46 2023-05-03 16:37:16 2023-03-01 16:31:48 2022-11-08 16:37:40
calendarYear 2024.000 2023.000 2023.000 2023.000 2023.000 2022.000 2022.000
period Q1 Q4 Q3 Q2 Q1 Q4 Q3
cashAndCashEquivalents 254M 262M 230M 233M 229M 224M 212M
shortTermInvestments 0 8M 10M 10M 32M 32M 32M
cashAndShortTermInvestments 254M 262M 230M 233M 261M 256M 244M
netReceivables 14M 13M 13M 11M 8M 12M 10M
inventory 8M 8M 7M 7M 7M 7M 7M
otherCurrentAssets 34M 30M 14M 12M 8M 8M 22M
totalCurrentAssets 309M 313M 283M 281M 299M 299M 284M
propertyPlantEquipmentNet 271M 269M 246M 236M 226M 212M 207M
goodwill 102M 102M 102M 102M 102M 101M 99M
intangibleAssets 214M 578M 218M 222M 226M 231M 231M
goodwillAndIntangibleAssets 315M 679M 320M 324M 327M 331M 330M
longTermInvestments 5M 5M -37M -34M 0 0 0
taxAssets 44M 26M 46M 43M 39M 0 0
otherNonCurrentAssets -26M -353M 14M 13M -21M 20M 18M
totalNonCurrentAssets 610M 626M 589M 582M 571M 564M 555M
otherAssets 0 0 0 0 0 0 0
totalAssets 919M 939M 871M 863M 870M 863M 838M
accountPayables 39M 34M 23M 25M 28M 22M 22M
shortTermDebt 30M 32M 28M 28M 23M 23M 23M
taxPayables 0 0 0 0 0 0 0
deferredRevenue 0 1.000 -23M -25M 0 37M 0
otherCurrentLiabilities 40M 44M 64M 64M 41M 7M 48M
totalCurrentLiabilities 109M 110M 92M 93M 93M 90M 93M
longTermDebt 516M 519M 484M 490M 514M 519M 498M
deferredRevenueNonCurrent 1.000 6M 10M 11M 0 0 0
deferredTaxLiabilitiesNonCurrent 44M 69M 46M 43M 39M 37M 35M
otherNonCurrentLiabilities 48M 37M 40M 38M 42M 39M 520M
totalNonCurrentLiabilities 608M 631M 580M 582M 595M 594M 565M
otherLiabilities 0 0 0 0 0 0 0
capitalLeaseObligations 0 6M 6M 0 0 0 0
totalLiabilities 717M 741M 673M 675M 688M 684M 657M
preferredStock 0 0 0 0 0 0 0
commonStock 8000.000 8000.000 9000.000 9000.000 9000.000 9000.000 9000.000
retainedEarnings 107M 99M 83M 73M 63M 54M 40M
accumulatedOtherComprehensiveIncomeLoss 9M 8M 12M 12M 10M 12M 13M
othertotalStockholdersEquity 86M 91M 103M 104M 109M 112M 128M
totalStockholdersEquity 202M 198M 199M 189M 182M 179M 181M
totalEquity 202M 198M 199M 189M 182M 179M 181M
totalLiabilitiesAndStockholdersEquity 919M 939M 871M 863M 870M 863M 838M
minorityInterest 0 0 0 0 0 0 0
totalLiabilitiesAndTotalEquity 919M 939M 871M 863M 870M 863M 838M
totalInvestments 5M 5M -37M -34M 32M 32M 32M
totalDebt 546M 557M 512M 518M 538M 542M 521M
netDebt 292M 296M 282M 285M 309M 318M 309M
link Link Link Link Link Link Link Link
finalLink Link Link Link Link Link Link Link

Cash Flow Statement

Property 2024 q1 2023 q4 2023 q3 2023 q2 2023 q1 2022 q4 2022 q3
date 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30
symbol ACEL ACEL ACEL ACEL ACEL ACEL ACEL
reportedCurrency USD USD USD USD USD USD USD
cik 2M 2M 2M 2M 2M 2M 2M
fillingDate 2024-05-08 2024-02-28 2023-11-07 2023-08-03 2023-05-03 2023-03-01 2022-11-08
acceptedDate 2024-05-08 16:36:13 2024-02-28 16:33:01 2023-11-07 16:37:28 2023-08-03 16:41:46 2023-05-03 16:37:16 2023-03-01 16:31:48 2022-11-08 16:37:40
calendarYear 2024.000 2023.000 2023.000 2023.000 2023.000 2022.000 2022.000
period Q1 Q4 Q3 Q2 Q1 Q4 Q3
netIncome 7M 16M 10M 10M 9M 13M 22M
depreciationAndAmortization 16M 15M 15M 15M 14M 14M 13M
deferredIncomeTax 646 000 -2M 3M 4M 2M 2M 4M
stockBasedCompensation 2M 2M 3M 3M 2M 2M 1M
changeInWorkingCapital -3M 13M -5M -10M 5M -447 000 7M
accountsReceivables -270 000 -105 000 -4M -2M 3M -2M 360 000
inventory -160 000 -901 000 533 000 163 000 -529 000 -68 000 -726 000
accountsPayables 5M 14M -418 000 -3M 6M 8M 6M
otherWorkingCapital -7M 789 000 -1M -5M -3M -6M 1M
otherNonCashItems 35M -5M 2M 5M 5M -1M -11M
netCashProvidedByOperatingActivities 29M 41M 28M 26M 38M 30M 37M
investmentsInPropertyPlantAndEquipment -21M -22M -19M -20M -21M -14M -20M
acquisitionsNet -3M -3M -900 000 -5M -3M -6M -12M
purchasesOfInvestments 0 0 0 0 0 0 0
salesMaturitiesOfInvestments 0 0 0 0 0 0 0
otherInvestingActivites -2M 217 000 322 000 33M 476 000 409 000 329 000
netCashUsedForInvestingActivites -26M -24M -19M 7M -24M -20M -32M
debtRepayment -3M -30M -14M -127M -13M -21M -11M
commonStockIssued 68 000 167 000 208 000 0 0 366 000 0
commonStockRepurchased -6M -14M -3M -8M -4M -17M -25M
dividendsPaid 0 0 0 0 0 0 0
otherFinancingActivites -2M 119M 5M 106M 7M 40M 22M
netCashUsedProvidedByFinancingActivities -11M 15M -12M -28M -10M 3M -14M
effectOfForexChangesOnCash 0 -1M 0 39M 0 0 0
netChangeInCash -8M 31M -3M 5M 4M 12M -8M
cashAtEndOfPeriod 254M 262M 230M 233M 229M 224M 212M
cashAtBeginningOfPeriod 262M 230M 233M 229M 224M 212M 220M
operatingCashFlow 29M 41M 28M 26M 38M 30M 37M
capitalExpenditure -21M -22M -19M -20M -21M -14M -20M
freeCashFlow 8M 19M 10M 6M 17M 15M 17M
link Link Link Link Link Link Link Link
finalLink Link Link Link Link Link Link Link

Earning call transcript

2024 q1
2024-05-11 ET (fiscal 2024 q1)
2023 q4
2024-02-28 ET (fiscal 2023 q4)
2023 q3
2023-11-07 ET (fiscal 2023 q3)
2023 q2
2023-08-05 ET (fiscal 2023 q2)
2023 q1
2023-05-06 ET (fiscal 2023 q1)
2022 q4
2023-02-28 ET (fiscal 2022 q4)
2022 q3
2022-11-11 ET (fiscal 2022 q3)
2022 q2
2022-08-10 ET (fiscal 2022 q2)
2022 q1
2022-05-09 ET (fiscal 2022 q1)

Press-releases

Show financial reports only

2024-05-08 20:30 ET
Accel Entertainment Announces Q1 2024 Operating Results
2024-04-24 11:30 ET
Accel Entertainment, Inc. to Announce First Quarter 2024 Financial Results
2024-02-28 21:30 ET
Accel Entertainment Announces 2023 Operating Results
2024-02-14 12:30 ET
Accel Entertainment, Inc. to Announce Fourth Quarter and Full Year 2023 Financial Results
2023-11-07 21:30 ET
Accel Entertainment Announces Q3 2023 Operating Results
2023-10-31 11:30 ET
Accel Entertainment, Inc. to Announce Third Quarter 2023 Financial Results
2023-10-09 11:30 ET
Accel Entertainment Names Mark Phelan President, U.S. Gaming
2023-08-03 20:30 ET
Accel Entertainment Announces Q2 2023 Operating Results
2023-07-27 11:30 ET
Accel Entertainment, Inc. to Announce Second Quarter 2023 Financial Results
2023-05-03 20:30 ET
Accel Entertainment Announces Q1 2023 Operating Results
2023-04-26 11:30 ET
Accel Entertainment, Inc. to Announce First Quarter 2023 Financial Results
2023-02-28 21:30 ET
Accel Entertainment Announces 2022 Operating Results
2023-02-21 12:30 ET
Accel Entertainment, Inc. to Announce Fourth Quarter and Full Year 2022 Financial Results
2022-11-08 21:30 ET
Accel Entertainment Announces Q3 2022 Operating Results
2022-11-01 11:30 ET
Accel Entertainment, Inc. to Announce Third Quarter 2022 Financial Results
2022-08-09 20:30 ET
Accel Entertainment Announces Q2 2022 Operating Results
2022-08-02 11:30 ET
Accel Entertainment, Inc. to Announce Second Quarter 2022 Financial Results
2022-06-01 20:30 ET
Accel Entertainment Completes Century Gaming Acquisition
2022-05-04 20:30 ET
Accel Entertainment Announces Q1 2022 Operating Results
2022-04-27 11:30 ET
Accel Entertainment, Inc. to Announce First Quarter 2022 Financial Results
2022-04-25 11:30 ET
Accel Entertainment Names Mathew Ellis Chief Financial Officer
2022-03-09 21:30 ET
Accel Entertainment Announces 2021 Operating Results
2022-03-02 12:30 ET
Accel Entertainment, Inc. to Announce Fourth Quarter and Full Year 2021 Financial Results
2021-11-22 12:30 ET
Accel Entertainment Announces $200 Million Share Repurchase Program
2021-11-03 20:30 ET
Accel Entertainment Announces Q3 2021 Operating Results
2021-10-27 11:30 ET
Accel Entertainment, Inc. to Announce Third Quarter 2021 Financial Results
2021-10-25 11:30 ET
Accel Entertainment Announces Closing of $900 Million Senior Secured Credit Facility
2021-08-04 20:30 ET
Accel Entertainment Announces Q2 2021 Operating Results
2021-07-29 11:30 ET
Accel Entertainment, Inc. to Announce Second Quarter 2021 Financial Results
2021-05-24 21:00 ET
Accel Entertainment Announces Virtual Investor Day on June 2
2021-05-10 21:00 ET
Accel Entertainment Announces Q1 2021 Operating Results
2021-05-04 11:30 ET
Accel Entertainment, Inc. to Announce First Quarter 2021 Financial Results
2021-03-15 11:30 ET
Accel Entertainment Announces 2020 Operating Results
2021-03-08 12:30 ET
Accel Entertainment, Inc. to Announce Fourth Quarter and Full Year 2020 Financial Results
2021-03-02 22:00 ET
Accel Entertainment Announces Expansion into Montana and Nevada
2020-11-05 12:30 ET
Accel Entertainment Announces Q3 2020 Operating Results
2020-10-29 11:30 ET
Accel Entertainment, Inc. to Announce Third Quarter 2020 Financial Results
2020-09-24 03:11 ET
Accel Entertainment, Inc. Announces Pricing of Public Offering of Class A-1 Common Stock
2020-09-21 21:21 ET
Accel Entertainment, Inc. Announces Proposed Public Offering of Class A-1 Common Stock
2020-09-09 11:30 ET
Accel Entertainment Announces Exclusive Deal with DraftKings Inc.
2020-08-14 11:30 ET
Accel Entertainment, Inc. Announces Completion of Exchange Offer
2020-08-06 11:30 ET
Accel Entertainment Announces Q2 2020 Operating Results
2020-07-30 11:30 ET
Accel Entertainment, Inc. to Announce Second Quarter 2020 Financial Results
2020-07-14 12:35 ET
Accel Entertainment, Inc. Announces Commencement of Exchange Offer Relating to its Warrants
2020-06-22 20:15 ET
Accel Entertainment Appoints Dee Robinson to its Board of Directors
2020-06-16 20:15 ET
Accel Entertainment Announces Redemption of Public Warrants
2020-06-10 11:30 ET
Accel Entertainment Announces Expansion into Georgia
2020-05-11 11:30 ET
Accel Entertainment Announces Q1 2020 Operating Results
2020-05-04 11:30 ET
Accel Entertainment, Inc. to Announce First Quarter 2020 Financial Results
2020-04-29 20:15 ET
Accel to Hold Virtual Annual Meeting of Shareholders
2020-03-16 11:30 ET
Accel Entertainment Announces Full-Year 2019 Operating Results
2020-03-11 20:10 ET
Accel Entertainment, Inc. to Announce Full Year 2019 Financial Results
2020-03-09 21:12 ET
Accel Entertainment Announces Two Senior Executive Appointments
2019-11-26 14:18 ET
Accel Entertainment, Inc. Announces First Nine Months 2019 Results

SEC forms

Show financial reports only

SEC form 8
2024-05-08 00:00 ET
Accel Entertainment published news for 2024 q1
SEC form 8
2024-05-08 00:00 ET
Accel Entertainment published news for 2024 q1
SEC form 8
2024-05-08 00:00 ET
Accel Entertainment published news for 2024 q1
SEC form 10
2024-05-08 00:00 ET
Accel Entertainment reported for 2024 q1
SEC form 10
2024-02-28 16:41 ET
Accel Entertainment published news for 2023 q4
SEC form 8
2024-02-28 16:33 ET
Accel Entertainment published news for 2023 q4
SEC form 8
2024-02-28 16:33 ET
Accel Entertainment reported for 2023 q4
SEC form 8
2024-02-28 16:33 ET
Accel Entertainment published news for 2023 q4
SEC form 10
2024-02-28 00:00 ET
Accel Entertainment published news for 2023 q4
SEC form 10
2023-11-07 16:37 ET
Accel Entertainment reported for 2023 q3
SEC form 8
2023-11-07 16:34 ET
Accel Entertainment published news for 2023 q3
SEC form 10
2023-11-07 00:00 ET
Accel Entertainment published news for 2023 q3
SEC form 10
2023-08-03 16:41 ET
Accel Entertainment reported for 2023 q2
SEC form 10
2023-08-03 00:00 ET
Accel Entertainment published news for 2023 q2
SEC form 8
2023-08-03 00:00 ET
Accel Entertainment published news for 2023 q2
SEC form 10
2023-05-03 00:00 ET
Accel Entertainment published news for 2023 q1
SEC form 8
2023-05-03 00:00 ET
Accel Entertainment reported for 2023 q1
SEC form 10
2023-03-01 00:00 ET
Accel Entertainment reported for 2022 q4
SEC form 8
2023-02-28 00:00 ET
Accel Entertainment reported for 2022 q4
SEC form 8
2022-11-08 00:00 ET
Accel Entertainment reported for 2022 q3
SEC form 10
2022-11-08 00:00 ET
Accel Entertainment reported for 2022 q3
SEC form 8
2022-08-09 00:00 ET
Accel Entertainment reported for 2022 q2
SEC form 10
2022-08-09 00:00 ET
Accel Entertainment reported for 2022 q2
SEC form 8
2022-05-04 00:00 ET
Accel Entertainment reported for 2022 q1
SEC form 10
2022-05-04 00:00 ET
Accel Entertainment reported for 2022 q1
SEC form 10
2022-03-11 00:00 ET
Accel Entertainment published news for 2021 q4
SEC form 8
2022-03-09 00:00 ET
Accel Entertainment published news for 2021 q4
SEC form 8
2021-11-03 00:00 ET
Accel Entertainment published news for 2021 q3
SEC form 10
2021-11-03 00:00 ET
Accel Entertainment published news for 2021 q3
SEC form 8
2021-08-04 00:00 ET
Accel Entertainment published news for 2021 q2
SEC form 10
2021-08-04 00:00 ET
Accel Entertainment published news for 2021 q2
SEC form 8
2021-05-10 00:00 ET
Accel Entertainment published news for 2021 q1
SEC form 10
2021-05-10 00:00 ET
Accel Entertainment published news for 2021 q1