Monarch Casino & Resort, Inc.
MCRI Consumer Cyclical Resorts & Casinos
Monarch Casino & Resort, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $545.1 million, up 4.39% from fiscal 2024. In the quarter to June 2026, revenue grew 4.15%, EPS grew 23.8% and free cash flow fell 1.37%, each against the same quarter a year earlier. Dividend growth for three consecutive years, revenue growth for five.
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Monarch Casino & Resort, Inc. (MCRI) Altman Z-score
Monarch Casino & Resort, Inc.'s Altman Z-score for fiscal 2025 is 8.49, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 8.49 | 1.27 |
| FY2024 | 7.22 | 0.31 |
| FY2023 | 6.91 | (0.96) |
| FY2022 | 7.87 | 2.73 |
| FY2021 | 5.14 | 1.94 |
| FY2020 | 3.20 | (0.10) |
| FY2019 | 3.30 | (1.04) |
| FY2018 | 4.34 | (5.08) |
| FY2017 | 9.42 | 2.77 |
| FY2016 | 6.65 | 1.38 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (0.03) | — | −0.04 | |
| Retained earnings / total assets | 0.84 | — | 1.17 | |
| EBIT / total assets | 0.18 | — | 0.59 | |
| Market value of equity / total liabilities | 9.99 | — | 5.99 | |
| Sales / total assets | 0.76 | — | 0.76 | |
| Altman Z-score | Safe zone | 8.49 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 6.97 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| MCRI Monarch Casino & Resort, Inc. | 8.5× |
| BYD Boyd Gaming Corporation compare | 2.5× |
| RRR Red Rock Resorts, Inc. compare | 1.6× |
| MTN Vail Resorts, Inc. compare | 1.5× |
| HGV Hilton Grand Vacations Inc. compare | 1.4× |
| VAC Marriott Vacations Worldwide Corporation compare | 1.1× |
| CZR Caesars Entertainment, Inc. compare | 0.5× |
| MLCO Melco Resorts & Entertainment Limited compare | 0.5× |
| PENN PENN Entertainment, Inc. compare | 0.3× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets