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MCRI logoMonarch Casino & Resort, Inc.(MCRI)Earnings, Financials & Key Ratios

MCRI•NASDAQ
$117.63
$2.1B mkt cap·21.7× P/E·Price updated May 6, 2026
SectorConsumer CyclicalIndustryCasinos & GamingSub-IndustryRegional and Local Casino Operators
AboutMonarch Casino & Resort, Inc., through its subsidiaries, owns and operates the Atlantis Casino Resort Spa, a hotel and casino in Reno, Nevada. The company also owns and operates the Monarch Casino Resort Spa Black Hawk in Black Hawk, Colorado. As of December 31, 2021, its Atlantis Casino Resort Spa featured approximately 61,000 square feet of casino space; 818 guest rooms and suites; 8 food outlets; 2 gourmet coffee and pastry bars; a 30,000 square-foot health spa and salon with an enclosed pool; 2 retail outlets offering clothing and gift shop merchandise; an 8,000 square-foot family entertainment center; and approximately 52,000 square feet of banquet, convention, and meeting room space. The company's Atlantis Casino Resort Spa also featured approximately 1,400 slot and video poker machines; approximately 37 table games, including blackjack, craps, roulette, and others; a race and sports book; a 24-hour live keno lounge; and a poker room. In addition, its Monarch Casino Resort Spa Black Hawk featured approximately 60,000 square feet of casino space; approximately 1,100 slot machines; approximately 40 table games; 10 bars and lounges; 4 dining options; 516 guest rooms and suites; banquet and meeting room space; a retail store; a concierge lounge; an upscale spa and pool facility; and a nine-story parking structure with approximately 1,350 spaces, as well as valet parking with a total parking capacity to approximately 1,500 spaces. The company was founded in 1972 and is based in Reno, Nevada.Show more
  • Revenue$545M+4.4%
  • EBITDA$191M+32.8%
  • Net Income$101M+39.3%
  • EPS (Diluted)5.43+41.4%
  • Gross Margin45.13%-16.1%
  • EBITDA Margin35.06%+27.3%
  • Operating Margin25.07%+41.5%
  • Net Margin18.6%+33.5%
  • ROE19.21%+36.1%
  • ROIC21.81%+51.4%
  • Debt/Equity0.05+75.1%
  • Interest Coverage67.82-92.4%
Technical→

MCRI Key Insights

Monarch Casino & Resort, Inc. (MCRI) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Company is almost debt free
  • ✓Strong 5Y profit CAGR of 33.8%
  • ✓Strong Piotroski F-Score: 7/9
  • ✓FCF machine: 23.6% free cash flow margin
  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Strong 5Y sales CAGR of 24.2%

✗Weaknesses

No significant weaknesses identified

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

MCRI Price & Volume

Monarch Casino & Resort, Inc. (MCRI) stock price & volume — 10-year historical chart

Loading chart...

MCRI Growth Metrics

Monarch Casino & Resort, Inc. (MCRI) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years10.42%
5 Years24.21%
3 Years4.49%
TTM4.39%

Profit CAGR

10 Years17.24%
5 Years33.76%
3 Years5.04%
TTM39.33%

EPS CAGR

10 Years16.39%
5 Years34.15%
3 Years6.7%
TTM9.7%

Return on Capital

10 Years15.19%
5 Years19.38%
3 Years20.3%
Last Year24.67%

MCRI Recent Earnings

Monarch Casino & Resort, Inc. (MCRI) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 7/12 qtrs (58%)●Beat Revenue 8/12 qtrs (67%)
Q2 2026Latest
Apr 21, 2026
EPS
$1.52
Est $1.15
+32.2%
Revenue
$137M
Est $130M
+5.1%
Q1 2026
Feb 4, 2026
EPS
$1.25
Est $1.37
-8.8%
Revenue
$140M
Est $139M
+0.4%
Q4 2025
Oct 21, 2025
EPS
$1.69
Est $1.63
+3.7%
Revenue
$143M
Est $139M
+2.5%
Q3 2025
Jul 16, 2025
EPS
$1.44
Est $1.22
+18.0%
Revenue
$137M
Est $145M
-5.5%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestApr 21, 2026
$1.52vs $1.15+32.2%
$137Mvs $130M+5.1%
Q1 2026Feb 4, 2026
$1.25vs $1.37-8.8%
$140Mvs $139M+0.4%
Q4 2025Oct 21, 2025
$1.69vs $1.63+3.7%
$143Mvs $139M+2.5%
Q3 2025Jul 16, 2025
$1.44vs $1.22+18.0%
$137Mvs $145M-5.5%
Based on last 12 quarters of dataView full earnings history →

MCRI Peer Comparison

Monarch Casino & Resort, Inc. (MCRI) competitors in Regional and Local Casino Operators — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
CNTY logoCNTYCentury Casinos, Inc.Direct Competitor41.81M1.41-0.344.67%-18.92%-209.27%12.96
ACEL logoACELAccel Entertainment, Inc.Direct Competitor927.49M11.3718.958.12%3.79%18.97%6.68%2.30
RRR logoRRRRed Rock Resorts, Inc.Product Competitor3.13B52.9316.963.74%9.35%56.57%9.23%0.18
BYD logoBYDBoyd Gaming CorporationProduct Competitor6.41B85.153.774.12%45.02%91.81%6.06%1.25
PENN logoPENNPENN Entertainment, Inc.Product Competitor2.24B16.75-2.875.82%-12.11%-34.66%4.58
CHDN logoCHDNChurchill Downs IncorporatedProduct Competitor6.43B92.2517.347.01%13.16%35.7%7.7%4.92
MTN logoMTNVail Resorts, Inc.Product Competitor4.52B126.3216.782.74%7.89%29.72%7.07%4.57
LNW logoLNWLight & Wonder, Inc.Supply Chain8.13B97.9726.629.86%12.39%55.19%4.16%6.16

Compare MCRI vs Peers

Monarch Casino & Resort, Inc. (MCRI) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs CNTY

Most directly comparable listed peer for MCRI.

Scale Benchmark

vs MAR

Larger-name benchmark to compare MCRI against a more recognizable public peer.

Peer Set

Compare Top 5

vs CNTY, ACEL, RRR, BYD

MCRI Income Statement

Monarch Casino & Resort, Inc. (MCRI) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Sales/Revenue230.73M240.31M249.17M184.41M395.38M477.87M501.48M522.19M545.13M
Revenue Growth %6.31%4.16%3.68%-25.99%114.4%20.86%4.94%4.13%4.39%
Cost of Goods Sold112.2M117.06M122.29M84.71M177.72M218.28M232.3M241.37M299.09M
COGS % of Revenue48.63%48.71%49.08%45.94%44.95%45.68%46.32%46.22%54.87%
Gross Profit
118.52M▲ 0%
123.26M▲ 4.0%
126.87M▲ 2.9%
99.7M▼ 21.4%
217.66M▲ 118.3%
259.59M▲ 19.3%
269.18M▲ 3.7%
280.82M▲ 4.3%
246.03M▼ 12.4%
Gross Margin %51.37%51.29%50.92%54.06%55.05%54.32%53.68%53.78%45.13%
Gross Profit Growth %6.02%4%2.93%-21.42%118.31%19.26%3.69%4.32%-12.39%
Operating Expenses77.85M80.42M87.3M84.43M127.78M148.15M159.02M188.31M109.38M
OpEx % of Revenue33.74%33.46%35.04%45.78%32.32%31%31.71%36.06%20.06%
Selling, General & Admin62.72M65.8M69.31M60.4M84.43M97.6M105.82M108.29M109.38M
SG&A % of Revenue27.18%27.38%27.82%32.75%21.35%20.42%21.1%20.74%20.06%
Research & Development000000000
R&D % of Revenue---------
Other Operating Expenses15.13M14.62M17.99M24.04M43.36M50.55M53.2M80.03M0
Operating Income
40.67M▲ 0%
42.83M▲ 5.3%
39.58M▼ 7.6%
15.27M▼ 61.4%
89.88M▲ 488.5%
111.44M▲ 24.0%
110.15M▼ 1.2%
92.5M▼ 16.0%
136.66M▲ 47.7%
Operating Margin %17.63%17.82%15.88%8.28%22.73%23.32%21.97%17.71%25.07%
Operating Income Growth %5.49%5.31%-7.59%-61.41%488.55%23.99%-1.16%-16.02%47.73%
EBITDA55.8M57.44M54.45M32.59M128.29M154.88M157.45M143.86M191.11M
EBITDA Margin %24.18%23.9%21.85%17.68%32.45%32.41%31.4%27.55%35.06%
EBITDA Growth %4.52%2.95%-5.21%-40.14%293.58%20.73%1.65%-8.63%32.84%
D&A (Non-Cash Add-back)15.13M14.62M14.88M17.32M38.41M43.44M47.29M51.36M54.46M
EBIT40.67M42.83M39.58M15.27M89.88M111.44M110.15M92.5M131.37M
Net Interest Income-967K-177K1K-273K-4.51M-2.42M-1.63M-104K-1.94M
Interest Income001K000000
Interest Expense967K177K0273K4.51M2.42M1.63M104K1.94M
Other Income/Expense-967K-177K1K-273K-4.51M-2.42M-1.63M-104K-7.22M
Pretax Income
39.7M▲ 0%
42.65M▲ 7.4%
39.58M▼ 7.2%
15M▼ 62.1%
85.37M▲ 469.2%
109.02M▲ 27.7%
108.53M▼ 0.5%
92.4M▼ 14.9%
129.43M▲ 40.1%
Pretax Margin %17.21%17.75%15.88%8.13%21.59%22.81%21.64%17.69%23.74%
Income Tax14.16M8.55M7.76M-8.68M16.88M21.54M26.08M19.63M28.04M
Effective Tax Rate %35.67%20.05%19.61%-57.87%19.78%19.76%24.03%21.24%21.66%
Net Income
25.54M▲ 0%
34.1M▲ 33.5%
31.82M▼ 6.7%
23.68M▼ 25.6%
68.49M▲ 189.2%
87.48M▲ 27.7%
82.45M▼ 5.8%
72.77M▼ 11.7%
101.39M▲ 39.3%
Net Margin %11.07%14.19%12.77%12.84%17.32%18.31%16.44%13.94%18.6%
Net Income Growth %3.92%33.52%-6.69%-25.58%189.25%27.73%-5.75%-11.74%39.33%
Net Income (Continuing)25.54M34.1M31.82M23.68M68.49M87.48M82.45M72.77M101.39M
Discontinued Operations000000000
Minority Interest000000000
EPS (Diluted)
1.39▲ 0%
1.84▲ 32.4%
1.70▼ 7.6%
1.25▼ 26.5%
3.53▲ 182.4%
4.47▲ 26.6%
4.20▼ 6.0%
3.84▼ 8.6%
5.43▲ 41.4%
EPS Growth %0%32.37%-7.61%-26.47%182.4%26.63%-6.04%-8.57%41.41%
EPS (Basic)1.451.911.771.303.684.614.283.915.55
Diluted Shares Outstanding18.37M18.57M18.68M18.88M19.43M19.58M19.62M18.97M18.74M
Basic Shares Outstanding17.59M17.85M18.02M18.22M18.62M19M19.24M18.61M18.3M
Dividend Payout Ratio------136.84%30.6%21.59%

MCRI Balance Sheet

Monarch Casino & Resort, Inc. (MCRI) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Total Current Assets46.03M46.68M79.16M73.16M84.06M89.43M74.97M90.42M129.25M
Cash & Short-Term Investments29.15M30.46M60.54M28.31M33.53M38.78M43.36M58.76M96.47M
Cash Only29.15M30.46M60.54M28.31M33.53M38.78M43.36M58.76M96.47M
Short-Term Investments000000000
Accounts Receivable8.93M7.02M5.64M3.1M35.83M34.55M13M11.78M14.08M
Days Sales Outstanding14.1310.668.276.1433.0726.399.468.239.43
Inventory3.33M3.69M6.74M7.82M7.16M7.56M7.61M9.3M9.09M
Days Inventory Outstanding10.8511.5120.133.7114.712.6411.9614.0611.09
Other Current Assets00025.53M00009.62M
Total Non-Current Assets286.06M408.45M537.49M598.72M606.39M603.51M605.91M601.16M583.6M
Property, Plant & Equipment250.71M374.32M501.48M572.51M580.81M578.05M580.5M575.29M556.67M
Fixed Asset Turnover0.92x0.64x0.50x0.32x0.68x0.83x0.86x0.91x0.98x
Goodwill25.11M25.11M25.11M25.11M25.11M25.11M25.11M25.11M25.11M
Intangible Assets3.87M2.7M1.54M973K477K352K299K345K1.82M
Long-Term Investments000000000
Other Non-Current Assets2.82M2.28M908K130K000418K0
Total Assets
332.09M▲ 0%
455.13M▲ 37.1%
616.65M▲ 35.5%
671.88M▲ 9.0%
690.46M▲ 2.8%
692.94M▲ 0.4%
680.87M▼ 1.7%
691.58M▲ 1.6%
712.85M▲ 3.1%
Asset Turnover0.69x0.53x0.40x0.27x0.57x0.69x0.74x0.76x0.76x
Asset Growth %12.51%37.05%35.49%8.96%2.77%0.36%-1.74%1.57%3.08%
Total Current Liabilities39.41M59.45M79.47M109.44M141.18M117.74M123.37M146.46M150.2M
Accounts Payable8.18M11.18M011.65M18.57M14.42M23.09M41.24M95.13M
Days Payables Outstanding26.6234.87-50.2238.1524.1136.2862.37116.1
Short-Term Debt0020M12.5M20M6.69M001.02M
Deferred Revenue (Current)000000000
Other Current Liabilities00-20M0000054.05M
Current Ratio1.17x0.79x1.00x0.67x0.60x0.76x0.61x0.62x0.86x
Quick Ratio1.08x0.72x0.91x0.60x0.54x0.70x0.55x0.55x0.80x
Cash Conversion Cycle-1.64-12.69--10.389.6314.92-14.86-40.08-95.58
Total Non-Current Liabilities26.2M94.5M0194.37M101.27M36.24M44.37M27.37M24.98M
Long-Term Debt26.2M94.5M175.41M167.16M68.15M05.5M012.28M
Capital Lease Obligations0014.8M13.98M13.5M13.23M14.02M13.14M12.28M
Deferred Tax Liabilities00013.22M19.62M23.02M23.08M13.35M11.63M
Other Non-Current Liabilities00-175.41M0001.76M881K-11.21M
Total Liabilities65.61M153.94M0303.81M242.44M153.99M167.73M173.84M175.18M
Total Debt26.2M94.5M195.41M194.46M102.39M20.56M20.42M14.06M25.58M
Net Debt-2.95M64.04M195.41M166.15M68.87M-18.22M-22.94M-44.7M-70.89M
Debt / Equity0.10x0.31x0.57x0.53x0.23x0.04x0.04x0.03x0.05x
Debt / EBITDA0.47x1.65x3.59x5.97x0.80x0.13x0.13x0.10x0.13x
Net Debt / EBITDA-0.05x1.11x3.59x5.10x0.54x-0.12x-0.15x-0.31x-0.37x
Interest Coverage42.05x241.95x-55.94x19.95x46.05x67.79x889.45x67.82x
Total Equity
266.47M▲ 0%
301.18M▲ 13.0%
341.2M▲ 13.3%
368.07M▲ 7.9%
448.01M▲ 21.7%
538.95M▲ 20.3%
513.14M▼ 4.8%
517.75M▲ 0.9%
537.67M▲ 3.8%
Equity Growth %13.95%13.02%13.29%7.87%21.72%20.3%-4.79%0.9%3.85%
Book Value per Share14.5116.2218.2619.5023.0627.5326.1627.2928.70
Total Shareholders' Equity266.47M301.18M341.2M368.07M448.01M538.95M513.14M517.75M537.67M
Common Stock191K191K191K191K191K191K191K193K195K
Retained Earnings257.52M286.76M318.57M342.25M410.74M498.22M467.85M518.35M597.85M
Treasury Stock-18.12M-15.88M-12.78M-8.87M-4.34M-170K-3.72M-63.69M-136.41M
Accumulated OCI000000000
Minority Interest000000000

MCRI Cash Flow Statement

Monarch Casino & Resort, Inc. (MCRI) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash from Operations49.45M58.76M63.25M31.44M128.1M139.77M173.05M140.71M164.75M
Operating CF Margin %21.43%24.45%25.38%17.05%32.4%29.25%34.51%26.95%30.22%
Operating CF Growth %13.09%18.81%7.64%-50.28%307.4%9.11%23.81%-18.69%17.08%
Net Income25.54M34.1M31.82M23.68M68.49M87.48M82.45M72.77M101.39M
Depreciation & Amortization15.13M14.62M14.88M17.32M38.41M43.43M47.29M51.36M54.02M
Stock-Based Compensation7.09M5.47M8.2M3.85M05.17M7.48M7.86M8.4M
Deferred Taxes3.81M-483K1.34M15.77M6.53M3.4M68K-9.74M-1.72M
Other Non-Cash Items645K643K727K1.08M5.43M1.64M699K89K-5K
Working Capital Changes-2.76M4.41M6.28M-30.27M9.24M-1.35M35.06M18.37M2.67M
Change in Receivables-1.99M92K1.09M-23.15M-7.44M1.12M21.36M982K-1.85M
Change in Inventory-238K-357K-3.04M-1.09M664K-399K-56K-1.68M207K
Change in Payables-431K3M5.86M-5.38M6.92M-4.16M8.67M18.15M3.68M
Cash from Investing-46.69M-125.75M-134.92M-46.39M-37.79M-47.97M-51.23M-43.79M-37.17M
Capital Expenditures-49.99M-137.07M-125.37M-88.67M-46.93M-39.48M-49.01M0-36.32M
CapEx % of Revenue21.67%57.04%50.31%48.08%11.87%8.26%9.77%9.08%6.66%
Acquisitions86K072K31K22K440K0041K
Investments---------
Other Investing3.3M11.33M-9.62M42.24M9.12M-8.93M-2.22M-43.79M-892K
Cash from Financing-13.62M68.3M101.75M-17.28M-85.1M-86.54M-117.24M-81.53M-89.87M
Debt Issued (Net)068.3M101.75M-16.61M-92.5M-83M-1.5M-5.5M0
Equity Issued (Net)0003.76M8.13M3.34M-5.03M-51.75M-65.67M
Dividends Paid000000-112.82M-22.27M-21.89M
Share Repurchases00000-6.5M-5.03M-59.97M-72.72M
Other Financing000-4.43M-730K-6.88M2.11M-2.01M-2.3M
Net Change in Cash
2.77M▲ 0%
1.31M▼ 52.6%
30.08M▲ 2194.2%
-32.23M▼ 207.2%
5.22M▲ 116.2%
5.25M▲ 0.7%
4.58M▼ 12.8%
15.4M▲ 236.1%
37.71M▲ 144.9%
Free Cash Flow
-536K▲ 0%
-78.32M▼ 14511.6%
-62.12M▲ 20.7%
-57.22M▲ 7.9%
81.17M▲ 241.9%
100.29M▲ 23.5%
124.04M▲ 23.7%
93.28M▼ 24.8%
128.43M▲ 37.7%
FCF Margin %-0.23%-32.59%-24.93%-31.03%20.53%20.99%24.74%17.86%23.56%
FCF Growth %-103.04%-14511.57%20.68%7.88%241.86%23.55%23.68%-24.8%37.68%
FCF per Share-0.03-4.22-3.32-3.034.185.126.324.926.85
FCF Conversion (FCF/Net Income)1.94x1.72x1.99x1.33x1.87x1.60x2.10x1.93x1.62x
Interest Paid426K186K003.07M1.45M1.97M986K0
Taxes Paid11.95M7.3M6.32M012.41M15.62M25.63M29.76M0

MCRI Key Ratios

Monarch Casino & Resort, Inc. (MCRI) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric2016201720182019202020212022202320242025
Return on Equity (ROE)11.23%10.21%12.01%9.91%6.68%16.78%17.73%15.67%14.12%19.21%
Return on Invested Capital (ROIC)12.64%12.27%10.22%7.06%2.27%12.83%16.11%16.34%14.4%21.81%
Gross Margin51.51%51.37%51.29%50.92%54.06%55.05%54.32%53.68%53.78%45.13%
Net Margin11.32%11.07%14.19%12.77%12.84%17.32%18.31%16.44%13.94%18.6%
Debt / Equity0.11x0.10x0.31x0.57x0.53x0.23x0.04x0.04x0.03x0.05x
Interest Coverage63.68x42.05x241.95x-55.94x19.95x46.05x67.79x889.45x67.82x
FCF Conversion1.78x1.94x1.72x1.99x1.33x1.87x1.60x2.10x1.93x1.62x
Revenue Growth7.31%6.31%4.16%3.68%-25.99%114.4%20.86%4.94%4.13%4.39%

MCRI SEC Filings & Documents

Monarch Casino & Resort, Inc. (MCRI) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Apr 22, 2026·SEC

Material company update

Feb 4, 2026·SEC

Material company update

Dec 19, 2025·SEC

10-K Annual Reports

5
FY 2026

Feb 24, 2026·SEC

FY 2025

Mar 3, 2025·SEC

FY 2024

Feb 28, 2024·SEC

10-Q Quarterly Reports

6
FY 2025

Oct 28, 2025·SEC

FY 2025

Jul 29, 2025·SEC

FY 2025

May 2, 2025·SEC

MCRI Frequently Asked Questions

Monarch Casino & Resort, Inc. (MCRI) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Monarch Casino & Resort, Inc. (MCRI) reported $545.1M in revenue for fiscal year 2025. This represents a 917% increase from $53.6M in 1996.

Monarch Casino & Resort, Inc. (MCRI) grew revenue by 4.4% over the past year. Growth has been modest.

Yes, Monarch Casino & Resort, Inc. (MCRI) is profitable, generating $101.4M in net income for fiscal year 2025 (18.6% net margin).

Dividend & Returns

Yes, Monarch Casino & Resort, Inc. (MCRI) pays a dividend with a yield of 0.99%. This makes it attractive for income-focused investors.

Monarch Casino & Resort, Inc. (MCRI) has a return on equity (ROE) of 19.2%. This is reasonable for most industries.

Monarch Casino & Resort, Inc. (MCRI) generated $128.4M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

Explore More MCRI

Monarch Casino & Resort, Inc. (MCRI) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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Dividend History

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Earnings History

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Price History

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Revenue History

Sales growth patterns & revenue breakdown

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Financial Ratios

30 years of market, efficiency and balance-sheet ratios

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Valuation

DCF intrinsic value, peer multiples & estimates

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