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Friday 6 November 2026 Export MRDN’s income statement to Excel — free account

Meridian Holdings, Inc.

MRDN Consumer Cyclical Gambling

Revenue
+16.1%
EPS
+154.8%
Free cash flow
+260.3%
Total debt
−54.6%

Quarter to June 2026, against a year earlier

9.12 0.94 −9.34%
Market cap
$116.3M
P/E
0.0×
Fwd P/E
13.4×
Dividend yield
—
F-score
4/9
Altman Z
−0.82
Beneish M
−7.41
Dividend safety
45/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 1.78
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 1 — — 4 3 2 2 — — — — —
Insider Ownership 78.05%

Capital & Financial Ratios $m

Size
Market Cap 116.29
Revenue ttm 197.19
Net income ttm (83.86)
Free cash flow ttm 20.90
Net debt Q (7.10)
Valuation
P/E 0.00
Forward P/E 13.40
Price / sales 0.59
Forward P/S Powerpack
Price / FCF 5.53
Price / book 2.25
Financial health
Current ratio Q 0.59 (below 1: weak)
Debt / equity Q 0.20 (at or below 0.5: strong)
Interest coverage Q 8.13
Growth
Revenue growth Q +16.07% (above 0%: growing)
Operating income growth Q +205.86% (above 0%: growing)
EPS, this year +109.41% (at or above 15%: strong)
EPS, next year A +57.53% (at or above 15%: strong)
Revenue, next year A +12.05% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A —

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.5×, against a ten-year median of 6.3×; over the ten years it ranged from 0.4× in 2026 to 1,049× in 2019.
P/S against its own 10 years 3.40%
10-year low 10-year high
P/B against its own 10 years 13.95%
10-year low 10-year high
EV/Sales against its own 10 years 2.96%
10-year low 10-year high
EV/FCF against its own 10 years 1.20%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 17 30 18 17
Receivables 4 7 9 9
Inventory 2 4 6 5
Other 2 3 2 3
23 45 35 35
2023 2024 2025 Q'26
Payables 3 13 21 24
ST’ Debt — 17 11 10
Other 1 26 19 18
4 64 60 60

Compound Annual Growth %

10y 5y 3y
Sales 69.84% 81.31% 60.57%
Cash Flow 55.71% 81.96% 125.67%
Earnings 0.00% 0.00% 0.00%
Book Value 0.00% 20.63% 15.83%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 0.07 Actual 0.17

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q1 FY26 −0.04 0.18 Beat by 0.22
Q2 FY26 0.07 0.17 Beat by 0.10
Q3 FY26 0.14 — Reports 29 October 2026

EPS $

Mar Jun Sep Dec Year
’26 0.18 0.17 — — —
’25 (0.02) (0.31) 0.00 (7.09) (7.76)
’24 0.57 0.00 (0.36) (0.20) (0.16)
’23 — — — 0.00 1.97
’23 — 0.53 0.51 — (0.40)
’22 — — — — (0.11)
’21 — — — — 0.24
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 50 50 — — —
’25 43 43 47 50 183
’24 25 39 41 46 151
’23 — — — 61 93
’23 — 23 22 — 44
’22 — — — — 36
’21 — — — — 9
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 5 8 — — —
’25 8 2 7 8 25
’24 4 3 5 17 24
’23 — — — 23 24
’23 — 10 15 — 2
’22 — — — — 3
’21 — — — — 1
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 4 6 — — —
’25 4 (4) 4 7 12
’24 2 (2) (3) 8 2
’23 — — — 10 11
’23 — 4 7 — 2
’22 — — — — 2
’21 — — — — 1
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten 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 Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 0 0 1 3 4 9 36 93 151 183 197 +175.5% 205 227 255 +11.8%
Gross margin, % 0.00 58.33 92.14 99.24 96.75 35.17 25.43 73.38 58.61 56.58 55.72 +56.6 pt
EBT (10) 2 (1) 2 2 1 0 15 1 (97) (88) +28.7%
EBT margin, % (50,031.00) 1,500.92 (143.96) 61.41 54.97 6.94 1.29 16.63 0.80 (53.15) (44.58) +49,977.9 pt
Net income (10) 2 (1) 2 2 1 0 14 (1) (92) (84) +28.0%
Per share, $
Per share, $ Revenue 13.33 0.36 0.12 1.84 0.19 4.69 15.43 13.37 15.98 15.78 15.57 +1.9%
Earnings (6,761.24) 6.00 (0.17) 1.13 0.07 0.33 (0.11) 1.97 (0.16) (7.76) (6.74) (52.9%)
Cash flow 0.87 (0.05) 0.04 0.93 0.05 0.64 1.19 3.41 2.53 2.19 2.23 +10.8%
Capex 0.00 0.00 0.00 0.00 0.00 (0.06) (0.16) (1.88) (2.32) (1.18) (0.58) n/m
Free cash flow 0.87 (0.05) 0.04 0.93 0.05 0.58 1.02 1.52 0.20 1.01 1.65 +1.7%
Book value (2,654.27) (4.62) (0.17) 0.66 0.13 9.51 12.76 8.62 11.52 4.17 4.05 n/m
Shares, m 0 0 8 2 19 2 2 7 9 12 12 +170.4%
Valuation, ×
Valuation, × P/E 0.00 0.55 0.00 2,571.43 312.31 257.12 42.34 58.89 2,700.00 0.00 0.00 594.3
P/S 0.00 334.71 393.59 5.92 27.88 233.39 23.35 2.13 1.68 0.61 0.59 102.3
P/B 0.00 0.00 0.00 16.52 19.76 115.08 28.23 3.35 2.33 2.30 2.25 18.8
EV/Sales 0.00 334.40 393.04 5.68 26.72 231.61 22.93 1.91 1.69 0.60 0.55 101.9
EV/FCF (100.37) (1,114.67) 1,708.69 19.33 61.61 1,700.68 345.33 10.05 47.01 9.43 5.19 268.7
Cash, $m
Cash, $m Operating cash flow 0 0 0 1 1 1 3 24 24 25 28 +199.7%
Capex — — — — — 0 0 (13) (22) (14) (7) +229.4%
Free cash flow 0 0 0 1 1 1 2 11 2 12 21 +175.0%
Balance, $m
Balance, $m Working capital (4) (2) (1) 1 2 19 17 9 (18) (24) (25) +22.2%
Net debt 2 1 0 (1) (2) (17) (15) (20) 2 (1) (7) n/m
Shareholders’ equity (4) (2) (1) 1 2 19 30 60 109 48 51 n/m
Returns, %
Returns, % ROA (81,351.22) 2,053.71 (160.80) 92.54 52.16 3.78 (0.94) 23.74 (1.01) (54.19) (50.19) +81,297.0 pt
ROIC 0.00 0.00 0.00 337.31 0.00 19.96 0.80 21.73 1.55 (126.72) (124.83) (126.7) pt
ROE 251.32 (117.25) 98.29 (1,149.29) 78.18 4.03 (1.03) 30.09 (1.75) (114.31) (92.67) (365.6) pt
People
People Employees — — — — 2 17 30 31 1,200 1,200 — +259.4%
Revenue/emp, $m 0.00 0.00 0.00 0.00 0.00 0.55 1.20 0.00 0.13 0.15 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 2 Nov 2026

Meridian Holdings, 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
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% Compare
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%
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
ROLR HIGH ROLLER TEC $33.0M 7.0× — −51.58% (below 0%: shrinking) n/m −316.65% (below 0%: shrinking) 57.64% (87.97%) Compare
GRSD Grandstand Limited $29.3M — (loss-making) 10.6× −4.62% (below 0%: shrinking) n/m −95.77% (below 0%: shrinking) 84.29% (3.10%) Compare
BRAG Bragg Gaming Group Inc. $25.3M — (loss-making) — (loss-making) −10.09% (below 0%: shrinking) n/m +160.34% (above 0%: growing) 51.72% (8.48%) Compare
SEGG Sports Entertainment Gaming Global Corporation $7.0M — (loss-making) — (loss-making) +1,583.52% (above 0%: growing) n/m −404.79% (below 0%: shrinking) 29.03% (149.34%) Compare
Median of peers $62.6M 7.7× 13.4× −6.03% — −144.55% 49.72% (1.55%)

All 15 Gambling stocks →

Pay and ownership Proxy statement filed 2 October 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 2.02m 1.68m 31.00
2024 337.99k (155.76k) 77.00
2023 178.23k 385.73k 94.00

Ownership

Directors and executive officers, together 10.20%
Aleksandar Milovanović 61.60%
Zoran Milošević 6.30%
Anthony Brian Goodman (£) 5.20%
Snežana Božović 3.10%
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

Meridian Holdings, Inc. (MRDN) Latest News

16 Oct

Impact 4 · · Proactive

14 Oct

Impact 4 · · ACCESS Newswire

13 Oct

Impact 4 · · NewMediaWire

2 Oct

Impact 3 · · Zacks Small Cap Research

21 Sep

Impact 3 ·

4 Sep

Impact 3 ·

30 Jul

Impact 3 ·

29 Jul

Impact 4 ·
Impact 3 ·
Impact 3 · · MarketBeat transcript
Impact 3 ·

21 Jul

Impact 3 ·

1 May

Impact 4 · · Simply Wall St.

29 Apr

Impact 4 · · Zacks Small Cap Research

28 Apr

Impact 4 · · ACCESS Newswire
Impact 3 · · NewMediaWire

15 Apr

Impact 4 · · GlobeNewswire

14 Apr

Impact 4 · · ACCESS Newswire

9 Apr

Impact 4 · · GlobeNewswire

7 Apr

Impact 3 · · Zacks Small Cap Research

31 Mar

Impact 4 · · GuruFocus.com
Impact 4 · · NewMediaWire

25 Mar

Impact 4 · · TMX Newsfile

19 Mar

Impact 3 · · ACCESS Newswire

13 Mar

Impact 3 · · GlobeNewswire

10 Mar

Impact 4 · · GlobeNewswire

9 Mar

Impact 3 · · Zacks Small Cap Research

4 Mar

Impact 4 · · GlobeNewswire

3 Mar

Impact 3 · · NewMediaWire

2 Mar

Impact 4 · · TMX Newsfile
stockrow.com/MRDN · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com