Monarch Casino & Resort (MCRI) financial statements
Monarch Casino & Resort reported revenue of $545M in fiscal 2025, up 8.4% a year over 9 years.
Net income was $101M and the operating margin 23.4%, against 14.6% in 2016.
Free cash flow was $128M, and the company returned $22M in dividends and $73M in net buybacks.
The diluted share count rose 6% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Monarch Casino & Resort's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $264M | $279M | $240M | $249M | $184M | $395M | $478M | $501M | $522M | $545M |
| Gross profit | $39M | $41M | $43M | $40M | $15M | $90M | $111M | $110M | $93M | $127M |
| Selling, general and admin | $58M | $63M | $66M | $69M | $60M | $84M | $98M | $106M | $108M | $109M |
| Operating income | $39M | $41M | $43M | $40M | $15M | $90M | $111M | $110M | $93M | $127M |
| Interest expense | $616,000 | $967,000 | $177,000 | — | — | — | — | — | — | — |
| Pre-tax income | $38M | $40M | $43M | $40M | $15M | $85M | $109M | $109M | $92M | $129M |
| Income tax | $13M | $14M | $9M | $8M | -$9M | $17M | $22M | $26M | $20M | $28M |
| Net income | $25M | $26M | $34M | $32M | $24M | $68M | $87M | $82M | $73M | $101M |
| EPS (diluted) | $1.39 | $1.39 | $1.83 | $1.70 | $1.25 | $3.53 | $4.47 | $4.20 | $3.84 | $5.43 |
| Diluted shares | 18M | 18M | 19M | 19M | 19M | 19M | 20M | 20M | 19M | 19M |
| Gross margin | 14.6% | 14.6% | 17.8% | 15.9% | 8.3% | 22.7% | 23.3% | 22.0% | 17.7% | 23.4% |
| Operating margin | 14.6% | 14.6% | 17.8% | 15.9% | 8.3% | 22.7% | 23.3% | 22.0% | 17.7% | 23.4% |
| Net margin | 9.3% | 9.1% | 14.2% | 12.8% | 12.8% | 17.3% | 18.3% | 16.4% | 13.9% | 18.6% |
Balance sheet
Fiscal years, from Monarch Casino & Resort's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $26M | $29M | $30M | $61M | $28M | $34M | $39M | $43M | $59M | $96M |
| Receivables | $5M | $7M | $7M | $5M | $4M | $9M | $10M | $12M | $10M | $11M |
| Inventory | $3M | $3M | $4M | $7M | $8M | $7M | $8M | $8M | $9M | $9M |
| Total current assets | $39M | $46M | $47M | $79M | $73M | $84M | $89M | $75M | $90M | $129M |
| Property, plant and equipment | $215M | $251M | $374M | $501M | $573M | $581M | $578M | $580M | $575M | $557M |
| Goodwill | $25M | $25M | $25M | $25M | $25M | $25M | $25M | $25M | $25M | $25M |
| Total assets | $295M | $332M | $455M | $611M | $672M | $690M | $693M | $681M | $692M | $713M |
| Total current liabilities | $35M | $39M | $59M | $79M | $109M | $141M | $118M | $123M | $146M | $150M |
| Long-term debt | $26M | — | — | — | — | $68M | — | $6M | — | — |
| Total liabilities | $61M | $66M | $154M | $270M | $304M | $242M | $154M | $168M | $174M | $175M |
| Shareholders' equity | $234M | $266M | $301M | $341M | $368M | $448M | $539M | $513M | $518M | $538M |
| Net debt | -$183,000 | -$29M | -$30M | -$61M | -$28M | $35M | -$39M | -$38M | -$59M | -$96M |
Cash flow
Fiscal years, from Monarch Casino & Resort's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $44M | $49M | $59M | $63M | $31M | $128M | $140M | $173M | $141M | $165M |
| Capital spending | $26M | $50M | $137M | $125M | $89M | $47M | $39M | $49M | $47M | $36M |
| Free cash flow | $18M | -$536,000 | -$78M | -$62M | -$57M | $81M | $100M | $124M | $93M | $128M |
| Stock-based compensation | $2M | $7M | $5M | $8M | $4M | $4M | $5M | $7M | $8M | $8M |
| Dividends paid | — | — | — | — | — | — | — | $113M | $22M | $22M |
| Share buybacks (net) | — | — | — | — | — | — | -$6M | -$5M | -$60M | -$73M |
| Net borrowing | -$15M | — | $68M | $102M | -$14M | -$92M | -$83M | -$7M | — | — |
| Free cash flow margin | 6.7% | -0.2% | -32.6% | -24.9% | -31.0% | 20.5% | 21.0% | 24.7% | 17.9% | 23.6% |
| Dividends per share | — | — | — | — | — | — | — | $5.75 | $1.17 | $1.17 |
Questions
What was Monarch Casino & Resort's revenue in 2025?
$545M in fiscal 2025, from its 10-K filing.
How much free cash flow does Monarch Casino & Resort generate?
$128M in fiscal 2025 (operating cash flow minus capital spending).
From Monarch Casino & Resort's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.