Canterbury Park Holding Corporation (CPHC) 10-Year Financial Performance & Capital Metrics

CPHC • • Industrial / General

Consumer CyclicalCasinos & GamingRegional & Local CasinosLocal Market Casino Operators

AboutCanterbury Park Holding Corporation, through its subsidiaries, engages in horse racing, card casino, food and beverage, and real estate development businesses. The company's Horse Racing segment operates year-round simulcasting of horse races, as well as wagering on live thoroughbred and quarter horse races on a seasonal basis. Its Card Casino segment offers unbanked card games, such as poker and table games. The company's Food and Beverage segment operates concession stands, restaurants and buffets, bars, and other food venues, as well as café style restaurants and full-service bars within the Card Casino and simulcast area. This segment also provides lounge services along with a buffet restaurant; various concession style food and beverages during live racing; and catering and events services. Its Development segment engages in various development opportunities, such as residential development, office, restaurants, hotel, entertainment, and retail operations. The company is also involved in the provision of related services and activities, such as parking, advertising signage, publication sales, and other entertainment events and activities. Canterbury Park Holding Corporation was founded in 1994 and is based in Shakopee, Minnesota.Show more

Revenue $62M +0.2%
EBITDA $10M -31.4%
Net Income $2M -80.0%
EPS (Diluted) 0.42 -80.3%
Gross Margin 78.81% -0.8%
EBITDA Margin 16.33% -31.5%
Operating Margin 10.45% -44.2%
Net Margin 3.43% -80.0%
ROE 2.55% -81.6%
ROIC 7.2% -50.7%
Debt/Equity 0.00 +177.2%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓High quality earnings: Operating CF exceeds net income
✓Healthy 5Y average net margin of 10.9%
✓Trading at only 0.9x book value

✗Weaknesses

✗Weak Piotroski F-Score: 3/9
✗Negative free cash flow
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y2.42%

5Y0.78%

3Y0.64%

TTM-4.85%

Profit (Net Income) CAGR

10Y-1.31%

5Y-4.91%

3Y-43.63%

TTM-129.32%

EPS CAGR

10Y-3.01%

5Y-6.57%

3Y-44.37%

TTM-129.24%

ROCE

10Y Avg12.67%

5Y Avg12.38%

3Y Avg11.28%

Latest6.67%

Peer Comparison

Local Market Casino Operators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CPHCCanterbury Park Holding Corporation	77.56M	15.21	36.21	0.2%	-2.34%	-1.65%		0.00
RRRRed Rock Resorts, Inc.	3.81B	63.56	25.12	12.47%	9.52%	57.42%	6.54%	11.22
MCRIMonarch Casino & Resort, Inc.	1.68B	92.17	24.00	4.13%	15.32%	14.8%	5.55%	0.03
CNTYCentury Casinos, Inc.	49.17M	1.67	-0.40	4.67%	-18.92%	-8.77%		12.96
FLLFull House Resorts, Inc.	92.47M	2.56	-2.21	21.16%	-13.38%	-7.01%		13.03

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	52.26M	52.46M	56.95M	59.14M	59.23M	33.14M	60.4M	66.82M	61.44M	61.56M
Revenue Growth %	0.08%	0%	0.09%	0.04%	0%	-0.44%	0.82%	0.11%	-0.08%	0%
Cost of Goods Sold+	12.56M	12.35M	12.94M	13.23M	13.44M	7.61M	12.54M	13.88M	12.63M	13.04M
COGS % of Revenue	0.24%	0.24%	0.23%	0.22%	0.23%	0.23%	0.21%	0.21%	0.21%	0.21%
Gross Profit+	39.7M	40.11M	44.01M	45.91M	45.79M	25.53M	47.86M	52.94M	48.8M	48.52M
Gross Margin %	0.76%	0.76%	0.77%	0.78%	0.77%	0.77%	0.79%	0.79%	0.79%	0.79%
Gross Profit Growth %	0.09%	0.01%	0.1%	0.04%	-0%	-0.44%	0.87%	0.11%	-0.08%	-0.01%
Operating Expenses+	36.59M	38.3M	39.63M	40.53M	42.1M	24.9M	30.08M	42.05M	37.3M	42.09M
OpEx % of Revenue	0.7%	0.73%	0.7%	0.69%	0.71%	0.75%	0.5%	0.63%	0.61%	0.68%
Selling, General & Admin	23.38M	24.86M	30.16M	31.31M	32.66M	19.64M	20.99M	32.23M	33.54M	33.15M
SG&A % of Revenue	0.45%	0.47%	0.53%	0.53%	0.55%	0.59%	0.35%	0.48%	0.55%	0.54%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	13.21M	13.44M	9.47M	9.22M	9.44M	5.26M	9.09M	9.82M	3.76M	8.93M
Operating Income+	4.61M	7.14M	4.52M	7.65M	3.64M	625.8K	17.78M	10.89M	11.5M	6.43M
Operating Margin %	0.09%	0.14%	0.08%	0.13%	0.06%	0.02%	0.29%	0.16%	0.19%	0.1%
Operating Income Growth %	0.13%	0.55%	-0.37%	0.69%	-0.52%	-0.83%	27.41%	-0.39%	0.06%	-0.44%
EBITDA+	6.91M	9.69M	7.05M	10.21M	6.32M	3.37M	20.63M	13.87M	14.65M	10.05M
EBITDA Margin %	0.13%	0.18%	0.12%	0.17%	0.11%	0.1%	0.34%	0.21%	0.24%	0.16%
EBITDA Growth %	0.11%	0.4%	-0.27%	0.45%	-0.38%	-0.47%	5.11%	-0.33%	0.06%	-0.31%
D&A (Non-Cash Add-back)	2.3M	2.55M	2.53M	2.56M	2.68M	2.75M	2.84M	2.98M	3.15M	3.62M
EBIT	3.11M	7.17M	4.38M	5.38M	3.69M	-1.73M	17.52M	11.04M	5.17M	4.75M
Net Interest Income+	2.8K	-21.25K	49.62K	61.52K	329.15K	663.57K	719.37K	909.96K	1.98M	2.07M
Interest Income	3K	29.81K	49.62K	61.52K	326.77K	663.57K	719.37K	909.96K	1.98M	2.07M
Interest Expense	201	51.06K	0	0	0	0	0	0	0	0
Other Income/Expense	2.8K	-21.25K	49.62K	61.52K	326.77K	-814.63K	-1.98M	-657.86K	3.48M	-3.4M
Pretax Income+	4.62M	7.12M	4.57M	7.71M	3.96M	-188.83K	15.8M	10.23M	14.98M	3.04M
Pretax Margin %	0.09%	0.14%	0.08%	0.13%	0.07%	-0.01%	0.26%	0.15%	0.24%	0.05%
Income Tax+	1.89M	2.92M	480K	1.99M	1.24M	-1.25M	4M	2.72M	4.42M	923.88K
Effective Tax Rate %	0.59%	0.59%	0.89%	0.74%	0.69%	-5.62%	0.75%	0.73%	0.71%	0.7%
Net Income+	2.73M	4.2M	4.09M	5.72M	2.72M	1.06M	11.8M	7.51M	10.56M	2.11M
Net Margin %	0.05%	0.08%	0.07%	0.1%	0.05%	0.03%	0.2%	0.11%	0.17%	0.03%
Net Income Growth %	0.13%	0.54%	-0.03%	0.4%	-0.52%	-0.61%	10.11%	-0.36%	0.41%	-0.8%
Net Income (Continuing)	2.73M	4.2M	4.09M	5.72M	2.72M	1.06M	11.8M	7.51M	10.56M	2.11M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.64	0.97	0.93	1.26	0.59	0.23	2.44	1.54	2.13	0.42
EPS Growth %	0.12%	0.52%	-0.04%	0.35%	-0.53%	-0.61%	9.61%	-0.37%	0.38%	-0.8%
EPS (Basic)	0.65	0.98	0.93	1.28	0.59	0.23	2.47	1.55	2.15	0.42
Diluted Shares Outstanding	4.24M	4.31M	4.4M	4.53M	4.61M	4.7M	4.83M	4.89M	4.95M	5.03M
Basic Shares Outstanding	4.23M	4.29M	4.38M	4.48M	4.59M	4.7M	4.78M	4.85M	4.92M	4.99M
Dividend Payout Ratio	0.39%	0.31%	0.24%	0.21%	0.47%	0.31%	0%	0.18%	0.13%	0.67%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	11.2M	12.08M	15.41M	12.81M	3.96M	9.45M	24.39M	30.7M	36.3M	24.41M
Cash & Short-Term Investments	8.48M	6.5M	9.09M	5.1M	459.29K	0	11.87M	17.99M	26.94M	15.08M
Cash Only	8.27M	6.3M	8.89M	4.9M	355.4K	0	11.87M	12.99M	21.94M	10.08M
Short-Term Investments	205.19K	205.65K	206K	206.54K	103.89K	0	0	5M	5M	5M
Accounts Receivable	510.92K	2.87M	2.33M	1.72M	302.04K	231.25K	7.97M	8.77M	4.57M	3.63M
Days Sales Outstanding	3.57	19.96	14.91	10.63	1.86	2.55	48.14	47.92	27.14	21.5
Inventory	253.33K	247.79K	262.99K	297.21K	390.12K	218.79K	248.39K	262.07K	249.37K	250.66K
Days Inventory Outstanding	7.36	7.32	7.42	8.2	10.59	10.49	7.23	6.89	7.21	7.01
Other Current Assets	1.92M	1.99M	3.14M	5.06M	2.31M	8.5M	3.73M	3.12M	3.91M	3.61M
Total Non-Current Assets+	34.14M	37.55M	39.13M	48.62M	61.45M	59.35M	58.67M	61.58M	68.37M	85.51M
Property, Plant & Equipment	34.12M	35.38M	36.96M	38.13M	34.72M	33.55M	34.38M	36.49M	42.5M	51.07M
Fixed Asset Turnover	1.53x	1.48x	1.54x	1.55x	1.71x	0.99x	1.76x	1.83x	1.45x	1.21x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	0	2.14M	2.14M	3M	2.99M	7.52M	6.39M	6.86M	6.61M	6.98M
Other Non-Current Assets	20K	25K	22.5K	7.49M	23.74M	18.29M	17.89M	18.22M	19.27M	27.46M
Total Assets+	45.34M	49.62M	54.54M	61.43M	65.41M	68.8M	83.06M	92.28M	104.68M	109.92M
Asset Turnover	1.15x	1.06x	1.04x	0.96x	0.91x	0.48x	0.73x	0.72x	0.59x	0.56x
Asset Growth %	0.15%	0.09%	0.1%	0.13%	0.06%	0.05%	0.21%	0.11%	0.13%	0.05%
Total Current Liabilities+	7.31M	8.72M	10.82M	10.62M	11.48M	10.1M	9.81M	10.43M	11.08M	10.67M
Accounts Payable	2.71M	2.56M	2.85M	3.59M	3.5M	2.95M	2.31M	3.37M	4.6M	3.67M
Days Payables Outstanding	78.74	75.54	80.5	98.96	94.92	141.63	67.16	88.56	132.89	102.57
Short-Term Debt	0	0	0	0	0	0	0	0	0	0
Deferred Revenue (Current)	711.48K	0	905.03K	979.36K	1000K	0	733.29K	413.44K	274.9K	311.24K
Other Current Liabilities	0	4.53M	4.76M	3.77M	0	435.87K	0	0	0	0
Current Ratio	1.53x	1.39x	1.42x	1.21x	0.35x	0.94x	2.49x	2.94x	3.28x	2.29x
Quick Ratio	1.50x	1.36x	1.40x	1.18x	0.31x	0.91x	2.46x	2.92x	3.25x	2.26x
Cash Conversion Cycle	-67.82	-48.26	-58.17	-80.13	-82.47	-128.6	-11.78	-33.75	-98.55	-74.06
Total Non-Current Liabilities+	4.93M	4.36M	3M	4.07M	4.52M	7.42M	8.9M	10.66M	11.8M	15.16M
Long-Term Debt	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	2.59M	0	0	98.27K	116.84K	68.82K	18.97K	0	35.44K	117.18K
Deferred Tax Liabilities	2.34M	4.36M	3M	3.97M	4.4M	0	7.67M	7.47M	10.3M	9.85M
Other Non-Current Liabilities	0	0	0	0	0	7.35M	1.21M	3.19M	1.46M	5.2M
Total Liabilities	12.24M	13.07M	13.82M	14.69M	16M	17.51M	18.71M	21.09M	22.88M	25.83M
Total Debt+	3.18M	0	0	121.49K	171.12K	116.84K	68.82K	18.97K	62.4K	177.81K
Net Debt	-5.1M	-6.3M	-8.89M	-4.77M	-184.28K	116.84K	-11.8M	-12.97M	-21.87M	-9.9M
Debt / Equity	0.10x	-	-	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x
Debt / EBITDA	0.46x	-	-	0.01x	0.03x	0.03x	0.00x	0.00x	0.00x	0.02x
Net Debt / EBITDA	-0.74x	-0.65x	-1.26x	-0.47x	-0.03x	0.03x	-0.57x	-0.93x	-1.49x	-0.98x
Interest Coverage	22954.56x	139.86x	-	-	-	-	-	-	-	-
Total Equity+	33.1M	36.55M	40.72M	46.73M	49.42M	51.29M	64.35M	71.19M	81.8M	84.09M
Equity Growth %	0.07%	0.1%	0.11%	0.15%	0.06%	0.04%	0.25%	0.11%	0.15%	0.03%
Book Value per Share	7.80	8.48	9.25	10.31	10.72	10.92	13.33	14.55	16.53	16.71
Total Shareholders' Equity	33.1M	36.55M	40.72M	46.73M	49.42M	51.29M	64.35M	71.19M	81.8M	84.09M
Common Stock	42.38K	43.25K	44.15K	45.28K	46.45K	47.48K	48.12K	48.89K	49.63K	50.37K
Retained Earnings	15.04M	17.73M	20.81M	25.27M	26.64M	27.61M	39.41M	45.22M	54.4M	55.1M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-25.54M	-27.64M	-29.67M	-31.19M	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	4.43M	4.94M	7.09M	6.33M	6.74M	1.13M	13.5M	11.22M	11.54M	6.52M
Operating CF Margin %	0.08%	0.09%	0.12%	0.11%	0.11%	0.03%	0.22%	0.17%	0.19%	0.11%
Operating CF Growth %	-0.04%	0.12%	0.43%	-0.11%	0.06%	-0.83%	10.94%	-0.17%	0.03%	-0.43%
Net Income	2.73M	4.2M	4.09M	5.72M	2.72M	1.06M	11.8M	7.51M	10.56M	2.11M
Depreciation & Amortization	2.3M	2.55M	2.53M	2.56M	2.68M	2.75M	2.84M	2.98M	3.15M	3.62M
Stock-Based Compensation	284.63K	685.31K	839.13K	870.73K	923.61K	840.26K	1.11M	1.07M	1.38M	0
Deferred Taxes	379.44K	2.1M	-1.35M	968K	434.3K	2.94M	323.31K	-197K	2.83M	-454.01K
Other Non-Cash Items	-1.36M	-5.33M	-138.35K	-2.27M	53.09K	-875.91K	2.44M	1.71M	-7.83M	5.27M
Working Capital Changes	101.42K	750.89K	1.12M	-1.52M	-71.18K	-5.59M	-5.01M	-1.86M	1.46M	-4.02M
Change in Receivables	36.81K	-280.94K	171.72K	24.35K	-60.29K	-475.81K	-7.09M	-810.42K	-2.57M	-636.36K
Change in Inventory	631.41K	958.94K	1.24M	-1.17M	312.81K	0	-158.39K	36.95K	-17.4K	0
Change in Payables	666.98K	655.96K	2.36K	-133.8K	-1.36M	-886.06K	-901.15K	456.33K	-1.47M	-2.12M
Cash from Investing+	-4.01M	-3.82M	-3.78M	-6.63M	-13.04M	-211.36K	-2.5M	-9.27M	-455.35K	-17.39M
Capital Expenditures	-4.6M	-4.43M	-3.78M	-5.5M	-15.17M	-1.54M	-3.78M	-5M	-7.91M	-11.98M
CapEx % of Revenue	0.09%	0.08%	0.07%	0.09%	0.26%	0.05%	0.06%	0.07%	0.13%	0.19%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	594.91K	614.78K	-356	-1.13M	2.03M	1.22M	1.65M	1.12M	7.45M	-5.46M
Cash from Financing+	-909.69K	-3.1M	-714.65K	-525.98K	-977.82K	-374.14K	130.46K	-1.44M	-1.35M	-1.29M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-1.06M	-1.29M	-961.63K	-1.21M	-1.28M	-328.59K	-1.71K	-1.36M	-1.38M	-1.41M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	4.06K	-79.99K	0	0	-54.93K	-177.5K	-25.95K	-212.61K	-171.75K	-108.89K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-172.36K	510.07K	3.3M	831.45K	-8.43M	-406.83K	9.72M	6.22M	3.63M	-5.46M
FCF Margin %	-0%	0.01%	0.06%	0.01%	-0.14%	-0.01%	0.16%	0.09%	0.06%	-0.09%
FCF Growth %	0.84%	3.96%	5.48%	-0.75%	-11.14%	0.95%	24.89%	-0.36%	-0.42%	-2.5%
FCF per Share	-0.04	0.12	0.75	0.18	-1.83	-0.09	2.01	1.27	0.73	-1.08
FCF Conversion (FCF/Net Income)	1.62x	1.18x	1.73x	1.11x	2.48x	1.06x	1.14x	1.49x	1.09x	3.09x
Interest Paid	0	51K	0	12K	42K	40K	3K	2K	1K	0
Taxes Paid	1.93M	1.15M	1.14M	1.36M	740K	80K	897.52K	3.71M	3.62M	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	8.51%	12.05%	10.59%	13.08%	5.65%	2.11%	20.4%	11.09%	13.81%	2.55%
Return on Invested Capital (ROIC)	13.78%	18.39%	10.92%	15.54%	5.98%	0.93%	25.66%	14.75%	14.6%	7.2%
Gross Margin	75.96%	76.45%	77.28%	77.63%	77.31%	77.03%	79.25%	79.22%	79.44%	78.81%
Net Margin	5.22%	8%	7.18%	9.67%	4.59%	3.2%	19.53%	11.24%	17.19%	3.43%
Debt / Equity	0.10x	-	-	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x
Interest Coverage	22954.56x	139.86x	-	-	-	-	-	-	-	-
FCF Conversion	1.62x	1.18x	1.73x	1.11x	2.48x	1.06x	1.14x	1.49x	1.09x	3.09x
Revenue Growth	7.83%	0.38%	8.56%	3.84%	0.14%	-44.05%	82.25%	10.64%	-8.06%	0.2%

Revenue by Segment

	2016	2017	2018	2019	2020	2021	2022	2023	2024
Casino	-	-	-	-	19.89M	38.09M	40.22M	39.78M	38.77M
Casino Growth	-	-	-	-	-	91.55%	5.59%	-1.09%	-2.53%
Pari-mutuel	-	-	-	-	7.98M	10.24M	10.96M	8.25M	8.23M
Pari-mutuel Growth	-	-	-	-	-	28.38%	6.97%	-24.68%	-0.33%
Food and Beverage	-	-	-	-	2.37M	6.19M	8.23M	7.83M	7.97M
Food and Beverage Growth	-	-	-	-	-	160.71%	33.00%	-4.84%	1.78%
Product and Service, Other	-	-	-	-	-	-	-	5.57M	6.59M
Product and Service, Other Growth	-	-	-	-	-	-	-	-	18.31%
Pari Mutuel	-	-	10.64M	9.83M	-	-	-	-	-
Pari Mutuel Growth	-	-	-	-7.58%	-	-	-	-	-
Casino Revenue	-	-	33.92M	-	-	-	-	-	-
Casino Revenue Growth	-	-	-	-	-	-	-	-	-
Food And Beverage Revenue	-	-	8.02M	-	-	-	-	-	-
Food And Beverage Revenue Growth	-	-	-	-	-	-	-	-	-
Card Casino	29.25M	31.98M	-	-	-	-	-	-	-
Card Casino Growth	-	9.32%	-	-	-	-	-	-	-
Horse Racing	15.02M	16.69M	-	-	-	-	-	-	-
Horse Racing Growth	-	11.10%	-	-	-	-	-	-	-
Concessions	8.18M	8.28M	-	-	-	-	-	-	-
Concessions Growth	-	1.20%	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Canterbury Park Holding Corporation (CPHC) has a price-to-earnings (P/E) ratio of 36.2x. This suggests investors expect higher future growth.

Growth & Financials

Canterbury Park Holding Corporation (CPHC) reported $59.1M in revenue for fiscal year 2024. This represents a 46% increase from $40.6M in 2011.

Canterbury Park Holding Corporation (CPHC) grew revenue by 0.2% over the past year. Growth has been modest.

Canterbury Park Holding Corporation (CPHC) reported a net loss of $1.4M for fiscal year 2024.

Dividend & Returns

Yes, Canterbury Park Holding Corporation (CPHC) pays a dividend with a yield of 1.84%. This makes it attractive for income-focused investors.

Canterbury Park Holding Corporation (CPHC) has a return on equity (ROE) of 2.5%. This is below average, suggesting room for improvement.

Canterbury Park Holding Corporation (CPHC) had negative free cash flow of $1.3M in fiscal year 2024, likely due to heavy capital investments.

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