Accel Entertainment, Inc. Financial Ratios — ACEL Stock

Profitability (USD)

	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Return on Common Equity (%)	- -	2.48	- -	- -	- -	- -	59.46	30.1	32.07
Return on Assets (%)	- -	2.38	-7.61	-0.08	5.37	10.02	5.14	3.59	4.78
Return on Capital (%)	- -	4.05	- -	- -	13.18	19.85	11.08	8.54	9.93
Return on Invested Capital (%)	- -	4.03	- -	- -	9.83	12.41	10.2	7.49	8.86
Gross Margin (%)	- -	35.1	34.22	33.27	32.76	30.82	30.18	30.18	31.35
EBITDA Margin (%)	- -	18.01	13.46	5.97	15.91	14.81	14.23	12.79	13.97
Operating Margin (%)	- -	7.42	3.11	-7.8	9.55	9.99	9.18	7.38	8.1
Incremental Operating Margin (%)	- -	7.53	-12.32	- -	22.68	11.34	5.26	-27.29	16.97
Pretax Margin (%)	- -	4.54	-7.36	-5.48	6.34	9.77	5.62	4.36	5.4
Profit Margin (%)	- -	3.22	-8.58	-0.13	4.3	7.64	3.9	2.86	3.87
Net Income to Common Margin (%)	- -	3.22	-8.58	-0.13	4.3	7.64	3.9	2.86	3.87
Effective Tax Rate (%)	- -	29.04	- -	- -	32.24	21.8	30.61	34.32	28.72
Dvd Payout Ratio (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	- -	2.48	- -	- -	- -	- -	59.46	30.1	32.07

Credit (USD)

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	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Debt	- -	- -	350	340	342	542	543	595	607
ST Debt	- -	- -	15	18	18	23	28	34	38
LT Debt	- -	- -	335	322	324	519	514	561	570
Total Debt/EBITDA	- -	- -	6.06	18	2.92	3.77	3.26	3.78	3.27
Net Debt/EBITDA	0.99	-0.01	3.89	10.88	1.22	2.21	1.69	1.99	1.67
Total Debt/EBIT	- -	- -	26.22	-13.78	4.87	5.6	5.05	6.55	5.63
Net Debt/EBIT	0.99	-0.02	16.82	-8.33	2.03	3.28	2.62	3.46	2.88
EBITDA to Interest Expense	- -	6.26	4.49	1.38	9.2	6.64	5.02	4.39	5.44
EBITDA-CapEx/Interest Expense	- -	3.84	2.87	-0.5	6.86	4.45	2.56	2.53	2.56
EBIT to Interest Expense	- -	2.58	1.04	-1.8	5.53	4.48	3.24	2.53	3.15
Interest Expense	- -	10	13	14	13	22	33	36	34
Common Equity/Total Assets	95.28	96.5	-10.08	-9.24	-3.28	6.25	10.9	12.85	16.88
Long-Term Debt/Equity (%)	- -	- -	- -	251.73	204.48	290.37	259.11	216.32	208.15
Long-Term Debt/Capital (%)	- -	- -	112.19	111.62	100.84	87.02	80.07	76.38	71.43
Long-Term Debt/Total Assets (%)	- -	- -	65.71	57.46	52.59	60.1	56.31	53.5	51.64
Total Debt/Equity (%)	- -	- -	-813.05	266	215.52	303.51	273.47	229.6	221.88
Total Debt/Capital (%)	- -	- -	117.22	117.95	106.29	90.96	84.5	81.07	76.15
Total Debt/Total Assets (%)	- -	- -	68.66	60.71	55.44	62.82	59.43	56.79	55.05
Net Debt to Equity	-0.09	-0.12	-521.48	160.86	90.08	178.02	141.61	121.12	113.55
Net Debt/Capital (%)	-0.09	-0.12	129.7	133.64	116.5	85.51	73.85	69.32	62.03
EBITDA	- -	60	58	19	117	144	167	157	186
EBITDA-CapEx	- -	37	37	-7	87	96	85	91	88
Operating Income (Loss)	- -	25	13	-25	70	97	107	91	108

Liquidity (USD)

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	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Cash Ratio	2.36	2.03	2.48	2.57	3.21	2.85	2.39	2.38	2.26
Current Ratio	3.22	2.17	2.76	2.9	3.45	3.33	2.85	2.76	2.61
Quick Ratio	2.36	2.03	2.55	2.63	3.28	2.97	2.51	2.48	2.43
CFO/Avg Current Liab	- -	216.38	1.65	-0.07	1.78	1.34	1.33	1.06	1.21
Common Equity/Total Assets	95.28	96.5	-10.08	-9.24	-3.28	6.25	10.9	12.85	16.88
Long-Term Debt/Equity (%)	- -	- -	- -	251.73	204.48	290.37	259.11	216.32	208.15
Long-Term Debt/Capital (%)	- -	- -	112.19	111.62	100.84	87.02	80.07	76.38	71.43
Long-Term Debt/Total Assets (%)	- -	- -	65.71	57.46	52.59	60.1	56.31	53.5	51.64
Total Debt/Equity (%)	- -	- -	-813.05	266	215.52	303.51	273.47	229.6	221.88
Total Debt/Capital (%)	- -	- -	117.22	117.95	106.29	90.96	84.5	81.07	76.15
Total Debt/Total Assets (%)	- -	- -	68.66	60.71	55.44	62.82	59.43	56.79	55.05
CFO/Total Liabilities	-2.98	277.1	8.25	-0.86	24.2	15.79	18.55	15.36	18.19
CFO/CapEx	- -	1.9	2.19	-0.14	3.72	2.28	1.62	1.82	1.53
Altman's Z-Score	13.59	22.53	2.62	2.16	4.45	3.65	3.96	3.7	3.8

Working Capital (USD)

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	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Accounts Receivable Turnover	- -	- -	- -	- -	286.94	119.09	95.03	102.51	107.56
Days Sales Outstanding	- -	- -	- -	- -	1.27	3.06	3.84	3.56	3.39
Inventory Turnover	- -	- -	- -	- -	- -	193.32	111.78	108.77	111.75
Days Inventory Outstanding	- -	- -	- -	- -	- -	1.89	3.27	3.36	3.27
Accounts Payable Turnover	- -	- -	32.96	10.35	25.81	36.72	28.05	22.06	19.66
Accounts Payable Turnover Days	- -	- -	11.07	35.25	14.14	9.94	13.01	16.54	18.57
Cash Conversion Cycle	- -	- -	-11.07	-35.25	-12.87	-4.99	-5.9	-9.63	-11.91
Inventory to Cash Days	- -	- -	- -	- -	1.27	1.18	0.58	0.21	0.13
Inventories	- -	- -	- -	- -	- -	7	8	8	8
Raw Materials	- -	- -	- -	- -	- -	5	6	6	6
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	2	2	2	2
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Market Capitalization	360	576	773	943	1,221	698	883	894	970
- Cash & Cash Equivalents	- -	1	125	134	199	224	262	281	297
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	4	4
+ Total Debt	- -	- -	350	340	342	542	543	595	607
Enterprise Value	360	576	986	1,149	1,332	984	1,164	1,213	1,285
Total Capital	429	441	298	288	321	596	642	734	798
Total Debt/Capital (%)	- -	- -	117.22	117.95	106.29	90.96	84.5	81.07	76.15
Total Debt / EV	- -	- -	0.35	0.3	0.26	0.55	0.47	0.49	0.47
EV/Sales	- -	1.72	2.3	3.63	1.81	1.01	0.99	0.99	0.97
EV/EBITDA	- -	9.54	17.09	60.79	11.39	6.85	6.99	7.7	6.91
EV/EBIT	- -	23.15	73.96	- -	18.97	10.16	10.83	13.34	11.91
EV/Cash Flow to Firm	- -	11.25	16.29	- -	11.16	7.87	7.48	8.38	7.33
EV/Free Cash Flow to Firm	- -	7.73	12.13	51.33	8.93	5.71	4.9	5.74	4.7
Diluted Market Cap	360	622	773	943	1,232	702	891	908	985
Diluted Enterprise Value	360	621	997	1,149	1,375	1,020	1,172	1,226	1,300
EV per Share	9.72	9.99	15.95	12.3	14.2	10.85	13.54	14.48	15.11
TTM Sales	- -	335	429	316	735	970	1,170	1,231	1,331
TTM EBITDA	- -	60	58	19	117	144	167	157	186
TTM Operating Income	- -	25	13	-25	70	97	107	91	108
TTM Cash Flow to Firm	- -	51	61	-3	119	125	156	145	175
TTM Free Cash Flow to Firm	- -	75	81	22	149	172	237	211	274

Multiples (USD)

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	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Price/Free Cash Flow	-759.5	9.19	11.65	42.76	8.77	4.52	4.16	4.83	3.95
EV/EBIT	- -	23.15	73.96	- -	18.97	10.16	10.83	13.34	11.91
Enterprise Value	360	576	986	1,149	1,332	984	1,164	1,213	1,285
Low Price	9.66	9.67	9.98	5.22	9.13	7.26	7.77	9.37	9.02
EV/Sales	- -	1.72	2.3	3.63	1.81	1.01	0.99	0.99	0.97
EV/EBITDA	- -	9.54	17.09	60.79	11.39	6.85	6.99	7.7	6.91
Price/Earnings	- -	53.34	- -	- -	38.69	9.42	19.36	25.37	18.85
Price/Earnings Average	-960.07	52.99	-17.5	-2,352.99	35.16	13.09	18.79	25.98	18.28
Price/Earnings High	-973.28	55.47	-21.37	-3,441.38	41.88	17.17	22.71	30.79	21.92
Price/Earnings Low	-951.14	51.58	-16.79	-1,188.88	27.13	8.88	14.64	22.26	14.9
Price/Book Value	0.84	1.31	-15.05	-18.22	-60.41	12.95	8.87	6.64	5.21
Price/Book Value Average	0.84	1.3	-12.53	-18.63	-54.9	18	8.61	6.8	5.05
Price/Book Value High	0.85	1.36	-15.29	-27.25	-65.4	23.61	10.41	8.05	6.06
Price/Book Value Low	0.83	1.26	-12.02	-9.42	-42.36	12.21	6.71	5.82	4.12
Price/Tangible Book Value	0.83	1.31	-2.95	-9.35	-22.48	-4.57	-7.24	-6.54	-8.13
Price/Tangible Book Value Average	0.83	1.3	-2.46	-9.56	-20.43	-6.35	-7.02	-6.7	-7.89
Price/Tangible Book Value High	0.84	1.36	-3	-13.99	-24.33	-8.33	-8.49	-7.94	-9.46
Price/Tangible Book Value Low	0.82	1.26	-2.36	-4.83	-15.76	-4.31	-5.47	-5.74	-6.43
Price/Sales	- -	1.72	1.8	2.98	1.66	0.72	0.75	0.73	0.73
Price/Sales Average	- -	1.71	1.5	3.05	1.51	1	0.73	0.74	0.71
Price/Sales High	- -	1.79	1.83	4.46	1.8	1.31	0.88	0.88	0.85
Price/Sales Low	- -	1.66	1.44	1.54	1.17	0.68	0.57	0.64	0.58
Price/Cash Flow	-759.5	12.99	16.97	-254.56	11.02	6.46	6.66	7.38	6.43
Price/Cash Flow Average	-761.52	12.91	14.12	-260.38	10.02	8.98	6.46	7.56	6.24
Price/Cash Flow High	-771.99	13.51	17.24	-380.83	11.93	11.78	7.81	8.96	7.48
Price/Cash Flow Low	-754.43	12.57	13.55	-131.56	7.73	6.09	5.04	6.47	5.08
Price/Free Cash Flow Average	-761.52	9.13	9.7	43.74	7.97	6.28	4.04	4.95	3.84
Price/Free Cash Flow High	-771.99	9.56	11.84	63.97	9.49	8.24	4.88	5.87	4.6
Price/Free Cash Flow Low	-754.43	8.89	9.3	22.1	6.15	4.26	3.15	4.24	3.13
EV/Sales Average	- -	1.71	2.02	3.7	1.7	1.33	0.97	1	0.94
EV/Sales High	- -	1.79	2.36	5.11	1.99	1.64	1.12	1.14	1.08
EV/Sales Low	- -	1.66	1.96	2.19	1.36	1.01	0.81	0.9	0.81
EV/EBITDA Average	-959.09	9.48	15.04	61.93	10.72	8.97	6.83	7.84	6.75
EV/EBITDA High	-972.29	9.92	17.5	85.55	12.53	11.07	7.91	8.92	7.76
EV/EBITDA Low	-950.15	9.23	14.58	36.68	8.55	6.79	5.7	7.01	5.82
EV/EBIT Average	-959.09	23	65.06	-47.43	17.84	13.3	10.59	13.58	11.64
EV/EBIT High	-972.29	24.08	75.72	-65.51	20.87	16.42	12.26	15.45	13.38
EV/EBIT Low	-950.15	22.38	63.1	-28.09	14.23	10.08	8.83	12.14	10.03
Last Price	9.73	10	12.5	10.1	13.02	7.7	10.27	10.68	11.41
High Price	9.89	10.4	12.7	15.11	14.1	14.04	12.05	12.96	13.27
Enterprise Value Average	361	572	868	1,170	1,252	1,288	1,138	1,234	1,256
Enterprise Value High	366	599	1,010	1,617	1,465	1,590	1,317	1,404	1,443
Enterprise Value Low	358	557	842	693	999	976	949	1,103	1,082

	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Shares Outstanding	56	56	77	93	93	87	84	86	82
Diluted Weighted Avg Shares	37	62	62	93	95	91	87	85	86
Basic Weighted Avg Shares	37	58	62	93	94	91	86	84	85
Revenue per Share	- -	5.82	6.93	3.39	7.83	10.7	13.62	14.7	15.65
EBITDA per Share	-0.01	1.05	0.93	0.2	1.25	1.58	1.94	1.88	2.19
Operating Income per Share	-0.01	0.43	0.22	-0.26	0.75	1.07	1.25	1.09	1.27
Basic EPS, GAAP	-0.01	0.19	-0.59	- -	0.34	0.82	0.53	0.42	0.61
Basic EPS from Cont Ops	-0.01	0.19	-0.59	- -	0.34	0.82	0.53	0.42	0.6
Diluted EPS, GAAP	-0.01	0.17	-0.59	- -	0.33	0.81	0.53	0.41	0.6
Diluted EPS from Cont Ops	-0.01	0.17	-0.59	- -	0.33	0.81	0.53	0.42	0.59
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	-0.01	0.77	0.74	-0.04	1.18	1.19	1.54	1.45	1.77
Free Cash Flow per Basic Share	-0.01	0.36	0.4	-0.32	0.86	0.67	0.59	0.65	0.62
Cash & Equivalents per Share	0.01	0.01	2.21	1.44	2.46	2.83	3.04	3.36	3.49
Book Value per Share	11.59	7.66	-0.83	-0.55	-0.22	0.59	1.16	1.61	2.19
Tangible Book Value per Share	11.73	7.66	-4.23	-1.08	-0.58	-1.69	-1.42	-1.63	-1.4

Accel Entertainment, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)