Friday 6 November 2026
Export ACEL’s income statement to Excel — free account
Accel Entertainment, Inc.
ACEL Consumer Cyclical Gambling
Accel Entertainment, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.3 billion, up 8.12% from fiscal 2024.
- Revenue
- +10.3%
- EPS
- +57.1%
- Free cash flow
- +79.7%
- Total debt
- −4.92%
Quarter to September 2026, against a year earlier
13.72
0.30
+2.24%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Sep ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | 248 | 335 | 429 | 316 | 735 | 970 | 1,170 | 1,231 | 1,331 | 1,425 | +23.3% | 1,444 | 1,508 | 1,583 | +6.0% | |
| Gross margin, % | — | 36.80 | 35.10 | 34.22 | 33.27 | 32.76 | 30.82 | 30.18 | 30.18 | 31.35 | 31.37 | (5.4) pt | ||||||
| EBT | — | 10 | 15 | (32) | (17) | 47 | 95 | 66 | 54 | 72 | 86 | +27.9% | ||||||
| EBT margin, % | — | 4.05 | 4.54 | (7.36) | (5.48) | 6.34 | 9.77 | 5.62 | 4.36 | 5.40 | 6.07 | +1.3 pt | ||||||
| Net income | — | 8 | 11 | (37) | 0 | 32 | 74 | 46 | 35 | 51 | 64 | +25.5% | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | 4.41 | 5.82 | 6.93 | 3.81 | 7.83 | 10.70 | 13.62 | 14.70 | 15.65 | 17.39 | +17.2% | |||||
| Earnings | — | 0.15 | 0.19 | (0.59) | 0.00 | 0.34 | 0.82 | 0.53 | 0.42 | 0.61 | 0.78 | +19.4% | ||||||
| Cash flow | — | 0.59 | 0.77 | 0.74 | (0.04) | 1.18 | 1.19 | 1.54 | 1.45 | 1.77 | 2.11 | +14.8% | ||||||
| Capex | — | (0.41) | (0.38) | (0.33) | (0.31) | (0.30) | (0.50) | (0.93) | (0.78) | (1.03) | (0.80) | +12.0% | ||||||
| Free cash flow | — | 0.17 | 0.39 | 0.40 | (0.35) | 0.88 | 0.69 | 0.61 | 0.66 | 0.75 | 1.32 | +20.1% | ||||||
| Book value | — | 0.09 | 0.99 | (0.70) | 1.54 | 1.69 | 1.97 | 2.31 | 3.05 | 3.17 | 3.72 | +56.4% | ||||||
| Shares, m | — | 56 | 58 | 62 | 83 | 94 | 91 | 86 | 84 | 85 | 83 | +5.3% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | 65.92 | 54.59 | 0.00 | 0.00 | 38.29 | 9.67 | 19.15 | 26.05 | 18.40 | 17.56 | 25.8 | |||||
| P/S | — | 0.00 | 0.00 | 1.80 | 2.65 | 1.66 | 0.74 | 0.76 | 0.73 | 0.73 | 0.79 | 1.0 | ||||||
| P/B | — | 109.60 | 10.09 | 0.00 | 6.56 | 7.71 | 4.02 | 4.48 | 3.51 | 3.60 | 3.69 | 16.6 | ||||||
| EV/Sales | — | 0.00 | 0.00 | 2.30 | 3.30 | 1.81 | 1.04 | 1.00 | 0.98 | 0.96 | 0.98 | 1.3 | ||||||
| EV/FCF | — | 16.55 | 16.13 | 39.63 | (35.93) | 16.16 | 16.01 | 22.29 | 21.72 | 20.15 | 12.93 | 14.7 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | 33 | 44 | 46 | (4) | 111 | 108 | 133 | 121 | 151 | 173 | +20.9% | |||||
| Capex | — | (23) | (22) | (21) | (25) | (28) | (45) | (80) | (66) | (87) | (65) | +17.9% | ||||||
| Free cash flow | — | 10 | 22 | 25 | (29) | 82 | 63 | 52 | 56 | 64 | 108 | +26.4% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | 0 | 16 | 97 | 100 | 176 | 209 | 203 | 208 | 212 | 189 | +122.7% | |||||
| Net debt | — | 0 | 139 | 213 | 206 | 111 | 286 | 281 | 314 | 311 | 272 | n/m | ||||||
| Shareholders’ equity | — | 5 | 57 | (43) | 128 | 158 | 179 | 198 | 255 | 270 | 305 | +64.6% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | 2.12 | 2.75 | (8.71) | (0.08) | 5.37 | 10.02 | 5.14 | 3.59 | 4.78 | 5.78 | +2.7 pt | |||||
| ROIC | — | 245.39 | 7.92 | 4.89 | (4.62) | 16.30 | 13.03 | 14.00 | 9.98 | 11.61 | 12.74 | (233.8) pt | ||||||
| ROE | — | 26.76 | 34.78 | (521.18) | (0.97) | 22.04 | 43.97 | 24.19 | 15.55 | 19.62 | 22.33 | (7.1) pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | 3 | 3 | 730 | 770 | 900 | 1,300 | 1,330 | 1,500 | 1,500 | — | +117.5% | |||||
| Revenue/emp, $m | — | 82.81 | 111.69 | 0.59 | 0.41 | 0.82 | 0.75 | 0.88 | 0.82 | 0.89 | — | (43.3%) | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026
Accel Entertainment, Inc. vs peers in Gambling (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| LNWO Light & Wonder, Inc. | $7.0B | 21.8× | 16.5× | −2.02% (below 0%: shrinking) | +27.01% (above 0%: growing) | +124.76% (above 0%: growing) | 75.61% | 29.37% | Compare |
| CHDN Churchill Downs, Incorporated | $6.7B | 15.2× | 14.0× | +1.90% (above 0%: growing) | +111.65% (above 0%: growing) | +252.66% (above 0%: growing) | 29.74% | 20.55% | Compare |
| SGHC Super Group (SGHC) Limited | $5.9B | 14.0× | 12.7× | +9.69% (above 0%: growing) | +46.95% (above 0%: growing) | −17.12% (below 0%: shrinking) | 100.00% | 27.66% | Compare |
| RSI Rush Street Interactive, Inc. | $2.7B | 24.3× | 30.9× | +38.84% (above 0%: growing) | +313.00% (above 0%: growing) | +90.25% (above 0%: growing) | 36.39% | 11.05% | Compare |
| BRSL Brightstar Lottery | $1.8B | 7.7× | 17.2× | −7.45% (below 0%: shrinking) | n/m | −719.07% (below 0%: shrinking) | 46.92% | 19.69% | Compare |
| ACEL Accel Entertainment, Inc. | $1.1B | 17.6× | 16.1× | +10.27% (above 0%: growing) | +57.13% (above 0%: growing) | +79.67% (above 0%: growing) | 31.38% | 7.92% | |
| CDRO Codere Online Luxembourg, S.A. | $387.0M | — (loss-making) | — | +232.74% (above 0%: growing) | +94.12% (above 0%: growing) | +7,111.62% (above 0%: growing) | 47.71% | 0.00% | Compare |
| MRDN Meridian Holdings, Inc. | $116.3M | — (loss-making) | 13.4× | +16.07% (above 0%: growing) | n/m | +260.25% (above 0%: growing) | 53.50% | 4.86% | Compare |
| INSE Inspired Entertainment, Inc. | $92.3M | — (loss-making) | 8.6× | −24.28% (below 0%: shrinking) | n/m | −193.33% (below 0%: shrinking) | 79.93% | 16.28% | Compare |
| Median of peers | $2.3B | 15.2× | 14.0× | +5.80% | +94.12% | +107.51% | 50.61% | 17.99% |
Pay and ownership Proxy statement filed 19 March 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2025 | 3.57m | 4.61m | 112.97 |
| 2024 | 3.82m | 3.31m | 105.74 |
| 2023 | 5.83m | 8.94m | 101.68 |
| 2022 | 3.80m | 475.62k | 76.24 |
| 2021 | 3.54m | 5.17m | 128.91 |
Ownership
Directors and executive officers, together
14.47%
Clairvest Group Inc.
20.72%
Andrew Rubenstein
10.04%
Darlington Partners Capital Management, LP
9.93%
Greenvale Capital LLP
7.43%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards
at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s
shares at the start of the earliest year shown was worth at each year’s end.
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement