Accel Entertainment, Inc.
ACEL · Services-Amusement & Recreation Services · 81.4M shares · +9%/yr ↑ shares · EDGAR filings ↗
Net buyback after stock comp: $21M (gross $30M, SBC $9M)
Grade
B77Market-leading distributed-gaming operator with top-decile ROA, recurring contracted revenue and strong FCF, tempered by leverage.
Strengths
- Top-decile ROA 4.7% (90.9th), ROE 19.1% and $62M FCF (83rd) on a sticky, long-term-contracted gaming-as-a-service model
- Excellent liquidity (current/quick 2.6/2.55, 100th pct) and a leading position with switching-cost-laden location partners
Risks
- High leverage — debt/equity 2.11 (80th pct) and ~$612M debt; capital-intensive contract wins
- Heavy geographic concentration (Illinois/Montana/Nevada) and pervasive licensing/regulatory dependence
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- High leverageHigh leverage (debt/equity 2.11)
Key metrics
Return on equity
19.1%
Return on assets
4.7%
ROIC
10.1%
Net-income growth
46.0%
Debt / equity
2.1×
Net debt / EBITDA
1.7×
Current ratio
2.6×
Free cash flow
$62M
EBITDA
$161M
Tangible book value
-$31M
Cash & investments
$297M
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-07 | Shareholder voteExhibits | filing ↗ |
| 2026-05-05 | ResultsReg FDExhibits | filing ↗ |
| 2026-03-03 | ResultsReg FDExhibits | filing ↗ |
| 2026-02-03 | Exec/director changeExhibits | filing ↗ |
| 2026-01-08 | Reg FDExhibits | filing ↗ |
| 2025-12-23 | Auditor changeExhibits | filing ↗ |
| 2025-11-04 | ResultsExhibits | filing ↗ |
| 2025-09-22 | Exec/director changeReg FDExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-07 | 2026-05-07 | 0001698991-26-000043 ↗ |
| 10-Q | 2026-05-05 | 2026-03-31 | 0001698991-26-000037 ↗ |
| 8-K | 2026-05-05 | 2026-05-05 | 0001698991-26-000036 ↗ |
| 10-K | 2026-03-03 | 2025-12-31 | 0001698991-26-000018 ↗ |
| 8-K | 2026-03-03 | 2026-03-03 | 0001698991-26-000016 ↗ |
| 8-K | 2026-02-03 | 2026-02-02 | 0001698991-26-000009 ↗ |
| 8-K | 2026-01-08 | 2026-01-08 | 0001698991-26-000005 ↗ |
| 8-K | 2025-12-23 | 2025-12-18 | 0001698991-25-000056 ↗ |
| 8-K | 2025-11-04 | 2025-11-04 | 0001698991-25-000050 ↗ |
| 10-Q | 2025-11-04 | 2025-09-30 | 0001698991-25-000051 ↗ |
| 8-K | 2025-09-22 | 2025-09-22 | 0001698991-25-000043 ↗ |
| 8-K | 2025-09-12 | 2025-09-10 | 0001698991-25-000036 ↗ |