Accel Entertainment (ACEL) financial statements
Accel Entertainment reported revenue of $1.3B in fiscal 2025, up 23.3% a year over 8 years.
Net income was $51M and the operating margin 8.1%, against 7.3% in 2017.
Free cash flow was $62M, and the company returned $40M in net buybacks.
The diluted share count rose 45% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Accel Entertainment's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $248M | $335M | $429M | $316M | $735M | $970M | $1.2B | $1.2B | $1.3B |
| Cost of revenue | $157M | $217M | $282M | $0 | $0 | $5M | $8M | $7M | $6M |
| Gross profit | $91M | $118M | $147M | $316M | $735M | $965M | $1.2B | $1.2B | $1.3B |
| Selling, general and admin | $45M | $54M | $69M | $77M | $111M | $146M | $180M | $195M | $219M |
| Operating income | $18M | $25M | $13M | -$25M | $70M | $97M | $107M | $91M | $108M |
| Interest expense | $8M | $10M | $13M | $14M | — | — | — | — | — |
| Pre-tax income | $10M | $15M | -$32M | -$17M | $47M | $95M | $66M | $54M | $72M |
| Income tax | $2M | $4M | $5M | -$17M | $15M | $21M | $20M | $18M | $21M |
| Net income | $8M | $11M | -$37M | -$410,000 | $32M | $74M | $46M | $35M | $51M |
| EPS (diluted) | $0.14 | $0.17 | -$0.59 | -$0.02 | $0.33 | $0.81 | $0.53 | $0.41 | $0.60 |
| Diluted shares | 59M | 62M | 62M | 83M | 95M | 91M | 87M | 85M | 86M |
| Gross margin | 36.8% | 35.1% | 34.2% | 100.0% | 100.0% | 99.5% | 99.3% | 99.4% | 99.6% |
| Operating margin | 7.3% | 7.4% | 3.1% | -7.8% | 9.6% | 10.0% | 9.2% | 7.4% | 8.1% |
| Net margin | 3.3% | 3.2% | -8.6% | -0.1% | 4.3% | 7.6% | 3.9% | 2.9% | 3.9% |
Balance sheet
Fiscal years, from Accel Entertainment's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $372,073 | $92M | $136M | $134M | $231M | $256M | $262M | $281M | $297M |
| Receivables | — | — | — | — | $5M | $11M | $13M | $11M | $14M |
| Inventory | — | — | — | — | $0 | $7M | $8M | $8M | $8M |
| Total current assets | $506,795 | $102M | $151M | $152M | $248M | $299M | $313M | $326M | $343M |
| Property, plant and equipment | — | $92M | $119M | $144M | $152M | $212M | $261M | $308M | $350M |
| Goodwill | — | $0 | $35M | $46M | $46M | $101M | $102M | $116M | $114M |
| Total assets | $451M | $335M | $509M | $560M | $616M | $863M | $913M | $1.0B | $1.1B |
| Total current liabilities | $157,390 | $86M | $55M | $52M | $72M | $90M | $110M | $118M | $131M |
| Long-term debt | — | $169M | $335M | $322M | $324M | $519M | $514M | $561M | $570M |
| Total liabilities | $16M | $16M | $552M | $432M | $458M | $684M | $714M | $793M | $830M |
| Shareholders' equity | $45M | $57M | -$43M | $128M | $158M | $179M | $198M | $255M | $270M |
| Net debt | -$372,073 | $139M | $224M | $206M | $143M | $318M | $281M | $314M | $311M |
Cash flow
Fiscal years, from Accel Entertainment's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $33M | $44M | $46M | -$4M | $111M | $108M | $133M | $121M | $151M |
| Capital spending | $24M | $23M | $21M | $26M | $30M | $47M | $82M | $67M | $89M |
| Free cash flow | $9M | $21M | $25M | -$29M | $81M | $61M | $51M | $55M | $62M |
| Stock-based compensation | $804,000 | $453,000 | $2M | $6M | $6M | $7M | $9M | $12M | $12M |
| Share buybacks (net) | -$123,000 | -$3M | $0 | $0 | -$9M | -$79M | -$30M | -$25M | -$40M |
| Free cash flow margin | 3.8% | 6.3% | 5.8% | -9.3% | 11.0% | 6.3% | 4.3% | 4.4% | 4.7% |
Questions
What was Accel Entertainment's revenue in 2025?
$1.3B in fiscal 2025, from its 10-K filing.
How much free cash flow does Accel Entertainment generate?
$62M in fiscal 2025 (operating cash flow minus capital spending).
From Accel Entertainment's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.