Latest Ratios: P/E Ratio -168.4x · EV/EBITDA 10.8x · ROE -0.6%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $86M | $78M | $103M | $101M | $153M | $83M | $56M | $57M | $63M | $72M | $43M |
| Enterprise Value | $71M | $62M | $93M | $79M | $140M | $72M | $56M | $57M | $58M | $63M | $37M |
| P/E Ratio → | -168.40 | — | 48.81 | 9.59 | 20.30 | 7.08 | 52.04 | 21.02 | 11.04 | 17.47 | 10.36 |
| P/S Ratio | 1.45 | 1.31 | 1.68 | 1.65 | 2.29 | 1.38 | 1.70 | 0.96 | 1.07 | 1.26 | 0.83 |
| P/B Ratio | 1.02 | 0.93 | 1.23 | 1.24 | 2.15 | 1.30 | 1.10 | 1.16 | 1.35 | 1.76 | 1.19 |
| P/FCF | 18.29 | 16.56 | — | 27.87 | 24.59 | 8.58 | — | — | 75.87 | 21.65 | 84.93 |
| P/OCF | 9.69 | 8.78 | 15.81 | 8.76 | 13.63 | 6.18 | 49.76 | 8.48 | 9.96 | 10.10 | 8.77 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.05 | 1.51 | 1.29 | 2.09 | 1.19 | 1.70 | 0.96 | 0.99 | 1.10 | 0.71 |
| EV / EBITDA | 10.83 | 9.58 | 9.28 | 5.41 | 10.09 | 3.47 | 16.70 | 9.02 | 5.71 | 8.89 | 3.82 |
| EV / EBIT | 28.03 | 24.78 | 19.63 | 15.33 | 12.68 | 4.09 | — | 15.45 | 10.85 | 14.30 | 5.16 |
| EV / FCF | — | 13.23 | — | 21.84 | 22.50 | 7.37 | — | — | 70.13 | 18.96 | 72.58 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 28.7% | 28.7% | 78.8% | 79.4% | 79.2% | 79.2% | 77.0% | 77.3% | 77.6% | 77.3% | 76.5% |
| Operating Margin | 4.2% | 4.2% | 10.4% | 18.7% | 16.3% | 29.4% | 1.9% | 6.1% | 12.9% | 7.9% | 13.6% |
| Net Profit Margin | -0.9% | -0.9% | 3.4% | 17.2% | 11.2% | 19.5% | 3.2% | 4.6% | 9.7% | 7.2% | 8.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -0.6% | -0.6% | 2.5% | 13.8% | 11.1% | 20.4% | 2.1% | 5.7% | 13.1% | 10.6% | 12.0% |
| ROA | -0.5% | -0.5% | 2.0% | 10.7% | 8.6% | 15.5% | 1.6% | 4.3% | 9.9% | 7.9% | 8.8% |
| ROIC | 2.7% | 2.7% | 7.2% | 14.6% | 14.8% | 25.7% | 0.9% | 6.0% | 15.5% | 10.9% | 18.4% |
| ROCE | 2.5% | 2.5% | 6.7% | 13.1% | 14.0% | 27.0% | 1.1% | 6.9% | 16.2% | 10.7% | 18.1% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | — |
| Debt / EBITDA | 0.02 | 0.02 | 0.02 | 0.00 | 0.00 | 0.00 | 0.03 | 0.03 | 0.01 | — | — |
| Net Debt / Equity | — | -0.19 | -0.12 | -0.27 | -0.18 | -0.18 | 0.00 | -0.00 | -0.10 | -0.22 | -0.17 |
| Net Debt / EBITDA | -2.41 | -2.41 | -0.98 | -1.49 | -0.93 | -0.57 | 0.03 | -0.03 | -0.47 | -1.26 | -0.65 |
| Debt / FCF | — | -3.33 | — | -6.03 | -2.09 | -1.21 | — | — | -5.74 | -2.69 | -12.35 |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | 140.45 |
Net cash position: cash ($16M) exceeds total debt ($117181)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.60 | 2.60 | 2.29 | 3.28 | 2.94 | 2.49 | 0.94 | 0.35 | 1.21 | 1.42 | 1.39 |
| Quick Ratio | 2.57 | 2.57 | 2.26 | 3.25 | 2.92 | 2.46 | 0.91 | 0.31 | 1.18 | 1.40 | 1.36 |
| Cash Ratio | 2.16 | 2.16 | 1.41 | 2.43 | 1.72 | 1.21 | — | 0.04 | 0.48 | 0.84 | 0.75 |
| Asset Turnover | — | 0.53 | 0.56 | 0.59 | 0.72 | 0.73 | 0.48 | 0.91 | 0.96 | 1.04 | 1.06 |
| Inventory Turnover | 157.71 | 157.71 | 52.03 | 50.66 | 52.98 | 50.47 | 34.79 | 34.45 | 44.52 | 49.21 | 49.86 |
| Days Sales Outstanding | — | 16.97 | 21.50 | 27.14 | 47.92 | 48.14 | 2.55 | 1.86 | 10.63 | 14.91 | 19.96 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.7% | 1.8% | 1.4% | 1.4% | 0.9% | 0.0% | 0.6% | 2.2% | 1.9% | 1.3% | 3.0% |
| Payout Ratio | — | — | 66.5% | 13.1% | 18.1% | 0.0% | 30.9% | 47.1% | 21.1% | 23.5% | 30.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 2.0% | 10.4% | 4.9% | 14.1% | 1.9% | 4.8% | 9.1% | 5.7% | 9.7% |
| FCF Yield | 5.5% | 6.0% | — | 3.6% | 4.1% | 11.6% | — | — | 1.3% | 4.6% | 1.2% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 1.7% | 1.8% | 1.4% | 1.4% | 0.9% | 0.0% | 0.6% | 2.2% | 1.9% | 1.3% | 3.0% |
| Shares Outstanding | — | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $4M | $4M |
Regulatory and Discretionary Spending
Based on recent financial data, CPHC trades at a P/S of 1.45 and a P/FCF of 18.29, suggesting that the market is pricing the company as a land-bank asset play rather than a traditional gaming operator, given the lack of a meaningful P/E multiple.
The absence of a positive P/E ratio reflects the persistent pressure on net margins, which complicates traditional valuation approaches. Investors appear to be looking past current operational losses to the potential long-term value of the Shakopee land holdings, though this creates a valuation disconnect compared to peers like Churchill Downs.
As reported in quarterly filings, the company's operating margin has struggled to maintain positive territory, reaching 7.8% in 2026Q1 but frequently dipping lower, which indicates that the high fixed-cost base of the racing facility is not scaling effectively with current revenue levels.
The volatility in gross margins, which swung from 7.8% to 83.1% over the last ten quarters, suggests that the company's profitability is highly sensitive to seasonal racing events and accounting adjustments. This inconsistency makes it difficult to identify a stable baseline for true earning power.
According to historical performance data, ROIC has remained largely stagnant, peaking at 4.1% in 2024Q3 before declining to 1.1% in 2026Q1, which suggests that the company is currently failing to generate returns that exceed typical cost of capital thresholds.
The low return on invested capital highlights the difficulty of deploying capital into a declining racing business while simultaneously funding real estate development. Without a significant improvement in operating margins, the company may continue to see its capital efficiency remain at these depressed levels.
Based on the provided financial statements, the cash conversion cycle has shown extreme fluctuations, ranging from -140 days to -2 days, which indicates that the company's working capital management is heavily influenced by the timing of seasonal racing receipts and project-based real estate payments.
The erratic nature of the cash conversion cycle suggests that the company relies on its customers and suppliers to manage liquidity during the off-season. This reliance on timing rather than operational velocity warrants further investigation into the sustainability of these working capital patterns.
The P/E ratio is the most commonly misapplied metric for CPHC, as it fails to account for the lumpy nature of real estate development gains and the non-cash impact of purse fund accounting on reported net income.
Investors should instead focus on EV/EBITDA or Net Asset Value (NAV) to better capture the underlying value of the land bank and the recurring cash flow from the card room. Relying on P/E in this context obscures the company's true economic potential by focusing on accounting noise.
Includes 30+ ratios · 30 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying CPHC stock.
Canterbury Park Holding Corporation's current P/E ratio is -168.4x. The historical average is 35.5x.
Canterbury Park Holding Corporation's current EV/EBITDA is 10.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.1x.
Canterbury Park Holding Corporation's return on equity (ROE) is -0.6%. The historical average is 8.2%.
Based on historical data, Canterbury Park Holding Corporation is trading at a P/E of -168.4x. Compare with industry peers and growth rates for a complete picture.
Canterbury Park Holding Corporation's current dividend yield is 1.67%.
Canterbury Park Holding Corporation has 28.7% gross margin and 4.2% operating margin.
Canterbury Park Holding Corporation's Debt/EBITDA ratio is 0.0x, indicating low leverage. A ratio below 2x is generally considered financially healthy.