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Monarch Casino & Resort Inc (MCRI) stock

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NASDAQ: MCRI Nasdaq Casinos & Gaming Next results ~February 3, 2027

C+ Fundamentals grade

Monarch Casino & Resort Inc is a US-listed company in the casinos & gaming industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$130

Cash-flow model

Base case. Range ~$100–$170 across our lower- and higher-growth cases (-0.3%–9.7% a year).

Price vs value

Modestly undervalued

The price is inside our value range, 12% below our base value.

Price used: $114.74, November 2, 2026

Monarch Casino & Resort Inc valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 1 selling0 purchases and 5 sales by directors and officers, last 12 monthsInsider trades
  • Funds137 adding, 113 cuttingOf 47 active managers that changed their stake, 20 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Monarch Casino & Resort files

10-Q filed October 30: Monarch Casino & Resort

Revenue for the twelve months to September 2026 was $565m, up 4.8% on a year earlier, about the same pace as a quarter earlier. Free-cash-flow margin rose to 25.2% from 22.7% a year earlier. The diluted share count is down 2.3% on a year earlier, which lifts each remaining share. Our model value is little changed at $127 a share, against a share price of $111. The rating stays Hold. At that price, our model says the market is pricing in about 1.7% a year of cash-flow growth for five years, slower than the 7.4% a year revenue growth it has delivered.

Source: 10-Q filed October 30, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (1)

Where Monarch Casino & Resort stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $562m, up 5.1% on a year earlier, slower than the 5.8% growth a quarter earlier. Free-cash-flow margin rose to 27.5% from 19.5% a year earlier. Against its peers on growth, profitability, cash generation and balance sheet, it grades B. It passes 2 of our 2 financial-health checks. Our cash-flow model value is $128 a share, against a share price of $111. At that price, our model says the market is pricing in about 2.2% a year of cash-flow growth for five years, slower than the 7.3% a year revenue growth it has delivered.

10-Q on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~February 3, 2027 (estimated)

Monarch Casino & Resort Inc's trailing-twelve-month revenue grew 4.8% year on year, with a free-cash-flow margin of 25.2%. Where it stands out: net margin of 20.4% ranks 1 of 22 casinos & gaming companies we cover. Where it lags: gross margin of 25.5% ranks 6 of 6 casinos & gaming companies we cover.

Our discounted-cash-flow model values the business at ~$130 per share in the base case (~$100–$170 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 16.5% while net income grew 39.2%: a 23pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Strong cash generation. 25.2% of revenue turned into free cash flow, against a median of 8.5% for casinos & gaming companies we cover.
  • Shrinking share count. Diluted shares fell 2.3% in a year, so each share owns more of the business.
  • Net cash. Cash exceeds long-term debt by $0.1bn.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Below peers: gross margin. Gross margin of 25.5% ranks 6 of 6 casinos & gaming companies we cover (median 55.0%).
  • Below peers: stock pay as % of revenue. Stock pay as % of revenue of 1.6% ranks 17 of 20 casinos & gaming companies we cover (median 0.9%).

Latest results: FY2026 Q3

Filed October 30, 2026
Earnings per share
$1.82 against an average estimate of $1.79: beat by 1.3%
Revenue
$146m, up 2.4% on a year earlier
Share reaction
-3.1% in the first session after the results on October 28, 2026, against 0.0% for the S&P 500
Next report
October 27, 2026; average EPS estimate $1.73

Monarch Casino & Resort's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+3.8%
  • 1 week-1.2%
  • 1 month-2.4%
  • This year+20.9%
  • 1 year+28.8%
  • 5 years+80.6%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$565M
Net margin
20.4%
EPS (TTM, diluted)
$6.31

Growth

Revenue growth
+4.8%
Change in growth rate
−0.3 pts
Share count change
−2.3%

Cash

Free cash flow (TTM)
$143M
FCF margin
25.2%
Stock pay % of revenue
1.6%

Earnings

Last results
October 28, 2026
Next results (est.)
February 3, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Monarch Casino & Resort Inc valuation models and calculator

What the price is pricing in

The share price implies about 1.8% a year of cash-flow growth for five years.That is slower than the 7.4% a year revenue growth Monarch Casino & Resort has delivered.

  • Priced in1.8%
  • Last 12 months4.8%
  • 3 years a year4.6%
  • 5 years a year7.4%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($114.45, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$130
Price used
$114.45close November 3, 2026
Implied change
▲ +15%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Monarch Casino & Resort Inc's free cash flow after stock-based pay with after-tax interest added back ($115M, FY2026 Q3 TTM), growing 3.3% and 4.2% in the next two years (forecasts, guidance and its record), then back to 4.7% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$100–~$170 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Monarch Casino & Resort Inc's free cash flow after stock-based pay ( $115M, FY2026 Q3 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Monarch Casino & Resort Inc as an operating company, with every model that fits that kind of business. Cost of equity 8.4%: the 10-year Treasury yield (4.9%) plus a beta of 0.77 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$130 ~$100–$170 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. ~$97 ~$78–$120 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$94 ~$65–$140 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$87 ~$74–$110 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$110 ~$87–$130 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Monarch Casino & Resort Inc with Casinos & Gaming in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −24%
  • Revenue growth 5 points higher ▲ +31%
  • Free-cash-flow margin 1 point lower ▼ −4%
  • Last year's free-cash-flow margin change, if it persists ▲ +11%
  • Discount rate 1 point higher ▼ −14%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $102$135$180$238$315$413
8.5% $80$104$136$178$232$302
10% $66$85$110$142$183$237

Valuation multiples over time Market data may be delayed

At fiscal year end 2016201720182019202020212022202320242025Now
Share price$22.93$39.87$33.93$43.19$54.46$65.79$68.40$66.61$77.26$94.93$114.74
Market value$405m$732m$630m$807m$1.0bn$1.3bn$1.3bn$1.3bn$1.5bn$1.8bn$2.1bn
+ Net debt (− = net cash)−$183000−$3m$64m$135m$151m$55m$12m−$38m−$59m−$96m−$137m
Enterprise value$405m$729m$694m$942m$1.2bn$1.3bn$1.4bn$1.3bn$1.4bn$1.7bn$2.0bn
Multiples
Price / sales 1.9x3.2x2.6x3.2x5.6x3.2x2.8x2.6x2.8x3.2x3.7x
Price / earnings 16.5x28.7x18.5x25.4x43.4x18.7x15.3x15.8x20.1x17.5x18.2x
Price / free cash flow 23.0x————15.7x13.4x10.5x15.7x13.8x14.7x
EV / EBITDA 7.6x13.1x—————————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

51 /100

Moderate moat

How hard Monarch Casino & Resort's competitive advantage looks for rivals to wear away, judged from 9 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Cash operating profit has been a median 2.0% of total assets over 7 years.

  • Pricing power 6 / 20

    Gross margin has been a median 20.2%, moving by 4.5 percentage points (standard deviation) across 9 years.

  • Durability 11 / 20

    Net margin has been a median 16.8%; its worst year was 7.8%.

  • Cash conversion 15 / 20

    Free cash flow was positive in 6 of 9 years, at a median 17.2% of revenue.

  • Discipline 19 / 20

    The diluted share count fell 6.2% over five years; stock-based pay has been a median 1.5% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $6.82 +17% $568m +4%
Next $7.02 +3% $581m +2%

Next year's EPS estimate has moved +1.8% in 90 days, across 2 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +2.7% on 90 days ago. In the last 30 days, 1 analyst raised Monarch Casino & Resort Inc's forecast and 0 cut it.

Consensus EPS forecast Monarch Casino & Resort Inc, last 90 days
$6.60 $6.70 $6.80 $6.90 $7.00 $7.10 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $6.64 Current fiscal year, 60 days ago: $6.64 Current fiscal year, 30 days ago: $6.64 Current fiscal year, 7 days ago: $6.64 Current fiscal year, Now: $6.82 $6.82 Next fiscal year, 90 days ago: $6.89 Next fiscal year, 60 days ago: $6.89 Next fiscal year, 30 days ago: $6.89 Next fiscal year, 7 days ago: $6.89 Next fiscal year, Now: $7.02 $7.02

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $6.64$6.89
60 days ago $6.64$6.89
30 days ago $6.64$6.89
7 days ago $6.64$6.89
Now $6.82$7.02

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $1.79 $1.82 +1.3%
Jun 2026 $1.71 $1.85 +8.4%
Mar 2026 $1.16 $1.58 +36.5%
Dec 2025 $1.42 $1.55 +9.1%

Adjusted EPS as companies report it, against the average analyst estimate.

How our valuation uses these forecasts

Our cash-flow model grows Monarch Casino & Resort Inc's revenue by +3.3% next year and +4.2% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+2.2%, weight 56%) and the company's own record (+4.7%, weight 44%) . How the weights are set.

Analyst recommendations

6 analysts, Oct 2026
Buy117%
Hold583%
Sell00%

Monthly trend

  1. Oct 2026156
  2. Sep 2026156
  3. Aug 2026156

Counts of recommendations published by analysts covering Monarch Casino & Resort Inc, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
5.4%
of tradable shares
Days to cover
3.23
at average volume
Short interest, 1 month
+8%
to October 15, 2026
Held by institutions
68%
of shares
Held by insiders
33.0%
of shares
Employees
2,740
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +28.8%

$89.06 on October 31, 2025 to $114.74

ThenNowEffect
Revenue (last 12 months) $535m $562m +5.1%
Net margin 14.7% 20.4% +38.6%
P/E multiple 21.1x 18.4x −12.9%
Share count 19m 18m +1.5%

Biggest factor: net margin.

Last 3 years +91.2%

$60.01 on November 3, 2023 to $114.74

ThenNowEffect
Revenue (last 12 months) $495m $562m +13.6%
Net margin 18.2% 20.4% +12.1%
P/E multiple 13.1x 18.4x +40.8%
Share count 20m 18m +6.6%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
MCRI+21%+4%−3%+16%+23%+21%
Industry peers (median)+26%−24%+16%−10%−11%−18%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
MCRI42%42%42%50%75%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
MCRI−22%−42%−24%−13%−23%−17%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 75% from February 20, 2020 to March 18, 2020. Getting back needed a 301% gain, reached on December 17, 2020, 274 days after the low.

Price behaviour

52-week range
$88.58 – $133.54
From 52-week high
−14.1%
vs 50-day average
−2.6%
vs 200-day average
+2.0%
Volatility (1 year)
26%
Beta vs S&P 500
0.32

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
8 up, 4 down
typical move ±7.8%
After a week
8 up, 3 down
typical move ±8.3%
After a month
8 up, 3 down
typical move ±7.8%
Results releasedNext dayS&P 500 next day5 days21 days
October 28, 2026 −3.1% 0.0% — —
July 21, 2026 −4.9% +0.7% −1.3% +0.3%
April 22, 2026 +18.3% +0.6% +21.1% +17.9%
February 4, 2026 +1.8% −1.7% +2.7% +5.4%
October 22, 2025 −4.4% +0.1% −8.4% −2.1%
July 16, 2025 +22.1% +0.9% +26.0% +18.5%
April 22, 2025 +5.5% +4.2% +6.0% +9.9%
February 11, 2025 +8.4% −0.2% +7.0% −1.7%
October 23, 2024 +6.3% −0.7% +7.9% +13.4%
July 25, 2024 +13.2% +0.6% +8.7% +7.9%
April 17, 2024 −5.5% −0.8% −2.1% −4.8%
February 14, 2024 +0.6% +1.6% +0.2% +3.8%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Monarch Casino & Resort Inc’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: fundamentals grade C+ (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: the shares trade below our fair value: a collar caps upside the model expects.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Monarch Casino & Resort Inc in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Monarch Casino & Resort Inc
$500M $520M $540M $560M $580M FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $501.5M Revenue (TTM), FY24 Q1: $506.5M Revenue (TTM), FY24 Q2: $511M Revenue (TTM), FY24 Q3: $515.9M Revenue (TTM), FY24 Q4: $522.2M Revenue (TTM), FY25 Q1: $525.9M Revenue (TTM), FY25 Q2: $534.7M Revenue (TTM), FY25 Q3: $539.6M Revenue (TTM), FY25 Q4: $545.1M Revenue (TTM), FY26 Q1: $556.3M Revenue (TTM), FY26 Q2: $562M Revenue (TTM), FY26 Q3: $565.4M $565.4M

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $501.5M
FY24 Q1 $506.5M
FY24 Q2 $511M
FY24 Q3 $515.9M
FY24 Q4 $522.2M
FY25 Q1 $525.9M
FY25 Q2 $534.7M
FY25 Q3 $539.6M
FY25 Q4 $545.1M
FY26 Q1 $556.3M
FY26 Q2 $562M
FY26 Q3 $565.4M
Revenue growth, TTM YoY Monarch Casino & Resort Inc
3% 4% 5% 6% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 4.9% Revenue growth, TTM YoY, FY24 Q1: 4.2% Revenue growth, TTM YoY, FY24 Q2: 3.3% Revenue growth, TTM YoY, FY24 Q3: 4.5% Revenue growth, TTM YoY, FY24 Q4: 4.1% Revenue growth, TTM YoY, FY25 Q1: 3.8% Revenue growth, TTM YoY, FY25 Q2: 4.6% Revenue growth, TTM YoY, FY25 Q3: 4.6% Revenue growth, TTM YoY, FY25 Q4: 4.4% Revenue growth, TTM YoY, FY26 Q1: 5.8% Revenue growth, TTM YoY, FY26 Q2: 5.1% Revenue growth, TTM YoY, FY26 Q3: 4.8% 4.8%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 4.9%
FY24 Q1 4.2%
FY24 Q2 3.3%
FY24 Q3 4.5%
FY24 Q4 4.1%
FY25 Q1 3.8%
FY25 Q2 4.6%
FY25 Q3 4.6%
FY25 Q4 4.4%
FY26 Q1 5.8%
FY26 Q2 5.1%
FY26 Q3 4.8%
FCF margin (TTM) Monarch Casino & Resort Inc
15% 20% 25% 30% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 24.7% FCF margin (TTM), FY24 Q1: 19.3% FCF margin (TTM), FY24 Q2: 17.8% FCF margin (TTM), FY24 Q3: 17.2% FCF margin (TTM), FY24 Q4: 17.9% FCF margin (TTM), FY25 Q1: 17.0% FCF margin (TTM), FY25 Q2: 19.5% FCF margin (TTM), FY25 Q3: 22.7% FCF margin (TTM), FY25 Q4: 23.6% FCF margin (TTM), FY26 Q1: 27.8% FCF margin (TTM), FY26 Q2: 27.5% FCF margin (TTM), FY26 Q3: 25.2% 25.2%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 24.7%
FY24 Q1 19.3%
FY24 Q2 17.8%
FY24 Q3 17.2%
FY24 Q4 17.9%
FY25 Q1 17.0%
FY25 Q2 19.5%
FY25 Q3 22.7%
FY25 Q4 23.6%
FY26 Q1 27.8%
FY26 Q2 27.5%
FY26 Q3 25.2%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 217 231 240 249 184 395 478 501 522 545 565
Gross profit 39 41 43 40 15 90 111 110 93 127 144
EBITDA 53 56 — — — — — — — — —
Operating income 39 41 — — — — — — — — —
Net income 25 26 34 32 24 68 87 82 73 101 115
Diluted EPS $1.39 $1.39 $1.83 $1.70 $1.25 $3.53 $4.47 $4.20 $3.84 $5.43 $6.31
Growth (year on year)
Revenue — +6.3% +4.2% +3.7% −26.0% +114.4% +20.9% +4.9% +4.1% +4.4% +4.8%
EBITDA — +4.5% — — — — — — — — —
Operating income — +5.5% — — — — — — — — —
Net income — +3.9% +33.5% −6.7% −25.6% +189.2% +27.7% −5.8% −11.7% +39.3% +39.2%
Diluted EPS — 0.0% +31.7% −7.1% −26.5% +182.4% +26.6% −6.0% −8.6% +41.4% +42.5%
Margins
Gross margin 17.8% 17.6% 17.8% 15.9% 8.3% 22.7% 23.3% 22.0% 17.7% 23.4% 25.5%
EBITDA margin 24.6% 24.2% — — — — — — — — —
Operating margin 17.8% 17.6% — — — — — — — — —
Net margin 11.3% 11.1% 14.2% 12.8% 12.8% 17.3% 18.3% 16.4% 13.9% 18.6% 20.4%
Free-cash-flow margin 8.1% −0.2% −32.6% −24.9% −31.0% 20.5% 21.0% 24.7% 17.9% 23.6% 25.2%
Cash flow
Cash from operations 44 49 59 63 31 128 140 173 141 165 168
Capital spending 26 50 137 125 89 47 39 49 47 36 26
Free cash flow 18 −1 −78 −62 −57 81 100 124 93 128 143
Stock-based pay 2 7 5 8 4 4 5 7 8 8 9
Free cash flow after stock pay 16 −8 −84 −70 −61 77 95 117 85 120 134
Balance sheet
Cash 26 29 30 61 28 34 39 43 59 96 137
Total debt 26 26 95 195 180 88 51 6 — 0 0
Net debt (negative = net cash) −0 −3 64 135 151 55 12 −38 −59 −96 −137
Diluted shares 18m 18m 19m 19m 19m 19m 20m 20m 19m 19m 18m
Returned to shareholders
Dividends — — — — — — — 113 22 22 21
Buybacks — — — — — — 7 5 60 73 96
Total returned — — — — — — 7 118 82 95 118

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · September 30, 2026
What it owns · $736m
Short-term assets $166mLonger-term assets $570m
What it owes, and who funded it · $736m
Short-term liabilities $142mLonger-term liabilities $24mShareholders' equity $569m
  • Short-term assets cover short-term liabilities $166m of assets due within a year against $142m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $166m short-term assets against $24m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Monarch Casino & Resort Inc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q3 TTM
Buybacks (TTM)
$96.3M
Dividends (TTM)
$21.4M
Returned to shareholders
83%
of free cash flow
Buybacks, last 3 fiscal years
$138M
Diluted share count
−2.3%
year over year
Total shareholder yield
5.8%
dividends 1.1% + buybacks 4.8% of market value
Dividend payout ratio
19%
of net income paid out
Sales & admin spending
20.0%
of revenue
Days sales outstanding
6 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in casinos & gaming
Last 12 months unless stated MCRI CNTY MSC FLL CDRO ACEL Median
Revenue, last 12 months $565m $581m $695m $306m $238m $1.4bn $2.4bn
Revenue growth, last 12 months 4.8% 1.1% 8.7% 2.8% 9.5% 8.7% 5.5%
Revenue growth, 3-year average 4.6% 8.0% — 17.8% — 7.1% 6.5%
Revenue growth, latest quarter 2.4% 0.8% — 5.6% — 9.6% 2.4%
Gross margin 25.5% 100.0% — 93.2% 84.1% — 55.0%
Operating margin 17.6% 9.7% 10.1% 2.3% 2.7% 8.2% 10.1%
Operating margin, 3-year average — 4.8% −51.4% 2.1% — 8.0% 7.1%
Net margin 20.4% −9.6% −8.5% −12.1% 0.6% 4.1% 3.1%
Cash from operations / revenue 29.7% 1.3% 30.3% 4.7% — 10.7% 14.4%
Free-cash-flow margin 25.2% −1.4% −0.2% 1.3% — 5.7% 8.5%
Free-cash-flow margin, 3-year average 21.7% −6.1% −89.2% −13.0% — 4.5% 4.5%
Stock pay / revenue 1.6% 0.2% 3.1% 0.7% — 0.9% 0.9%
Change in share count −2.3% −5.3% 51.9% 1.7% — −1.4% −2.6%

Median of all 22 companies we cover in casinos & gaming. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

22 casinos & gaming companies
Measure Company Peer median Rank
Revenue growth Growth 4.8% 6.1% 12 of 21
Change in growth rate Growth -0.3pp -0.4pp 10 of 21
Gross margin Profitability 25.5% 55.0% 6 of 6
Net margin Profitability 20.4% 3.6% 1 of 22
Free-cash-flow margin Cash generation 25.2% 8.5% 1 of 21
Stock pay as % of revenue Cash generation 1.6% 0.9% 17 of 20
Change in share count Balance sheet -2.3% -3.0% 10 of 16
Days sales outstanding Balance sheet 6 days 13 days 6 of 18

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Casino $314M 57.6% ▲ 6.8%
Food and Beverage $130M 23.9% ▲ 2.1%
Occupancy $76.2M 14.0% ▼ 0.2%
Hotel Other $24.9M 4.6% ▲ 1.6%

From Monarch Casino & Resort Inc's 10-K filed February 24, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$1.5B
Institutions reporting
257
Shares held vs prior quarter
▲ 3.5%
Positions opened / closed
44 / 28

Top buyers and sellers, Q2 2026: 137 institutions bought and 113 sold ; the biggest buyer was Price T Rowe Associates Inc (+253K shares) and the biggest seller Davenport & Co LLC (−318K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $271M 2.1M 17.8% ▲ 4.4%
American Century Companies Inc $73.5M 558K 4.8% ▲ 9.4%
Davenport & Co LLC $69.1M 523K 4.5% ▼ 37.9%
State Street Corp $68.1M 518K 4.5% ▲ 6.8%
Vanguard Capital Management LLC $68M 517K 4.5% ▼ 6.3%
Jpmorgan Chase & Co $58.9M 442K 3.9% ▼ 12.6%
Geode Capital Management, LLC $56.1M 426K 3.7% ▲ 4.4%
Vanguard Portfolio Management LLC $54.5M 414K 3.6% ▲ 9.5%
Fuller & Thaler Asset Management, Inc. $44.8M 340K 2.9% ▲ 15.8%
Price T Rowe Associates Inc $42.5M 323K 2.8% ▲ 363.4%
First Trust Advisors LP $32.8M 250K 2.2% ▲ 384.0%
Morgan Stanley $26.9M 204K 1.8% ▼ 8.9%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Monarch Casino & Resort Inc's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $1.6M 5 trades by 1 insider · 0% under pre-set plans
Net ▼ $1.6M net selling
Insider Date Trade Shares Price Value
Farahi John CEO September 17, 2026 Sell 5,000 $124.00 $620,000
Farahi John CEO May 28, 2026 Sell 5,000 $120.84 $604,200
Farahi John CEO March 16, 2026 Sell 2,000 $99.00 $198,000
Farahi John CEO March 10, 2026 Sell 1,000 $97.43 $97,430
Farahi John CEO December 17, 2025 Sell 1,000 $100.63 $100,630

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around February 3, 2027 estimated from the company's past filing pattern, not announced

  • October 28, 2026
  • July 21, 2026
  • April 22, 2026
  • February 4, 2026
  • October 22, 2025
  • July 16, 2025

Recent SEC filings

Data status

When each part of this page on Monarch Casino & Resort Inc was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Monarch Casino & Resort Inc in brief

What does Monarch Casino & Resort Inc do?
Monarch Casino & Resort Inc is a US-listed company in the casinos & gaming industry. Its financial year ends in December.
What is Monarch Casino & Resort Inc's stock ticker?
Monarch Casino & Resort Inc trades under the ticker MCRI on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Monarch Casino & Resort Inc's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Monarch Casino & Resort Inc reported revenue of $565M, 4.8% higher than a year earlier, according to its SEC filings.
What is Monarch Casino & Resort Inc's free cash flow?
Monarch Casino & Resort Inc's free-cash-flow margin is 25.2% of revenue over the trailing twelve months, ranking 1 of the 21 casinos & gaming companies we cover.
What is Monarch Casino & Resort Inc's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Monarch Casino & Resort Inc's free cash flow after stock-based pay gives ~$130 per share in the base case, and ~$100–$170 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Monarch Casino & Resort Inc's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., American Century Companies Inc and Davenport & Co LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Monarch Casino & Resort Inc buying back stock, and does it pay a dividend?
Monarch Casino & Resort Inc spent $96.3M on share repurchases over the trailing twelve months, and its diluted share count fell 2.3% over the year.
What is Monarch Casino & Resort Inc's market cap?
On November 2, 2026, Monarch Casino & Resort Inc's market capitalisation was about $2.1B, with a price-to-earnings ratio of 18.2 and net debt of -$137M. Market figures come from third-party market data and may be delayed.
Does Monarch Casino & Resort Inc pay a dividend?
Yes: Monarch Casino & Resort Inc paid $21.4M in dividends over the trailing twelve months, a dividend yield of 1.06% and a payout ratio of 18.6%.
Who are Monarch Casino & Resort Inc's competitors?
In our Casinos & Gaming peer group, the companies closest to Monarch Casino & Resort Inc are Century Casinos Inc, Studio City International Holdings Ltd, Full House Resorts Inc, Codere Online Luxembourg, S.a. and Accel Entertainment, Inc. The side-by-side comparison below sets their revenue, margins and growth against Monarch Casino & Resort Inc's.
Are insiders buying or selling Monarch Casino & Resort Inc stock?
Over the last 12 months, Monarch Casino & Resort Inc's directors and officers reported 0 open-market purchases and 5 sales on Form 4. The insider trading page charts every trade.
When is Monarch Casino & Resort Inc's next earnings date?
Around February 3, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Monarch Casino & Resort Inc announces its own schedule.