Monarch Casino & Resort Inc. (MCRI) intrinsic value & 10-year financials
Monarch Casino & Resort Inc. (MCRI) has a Graham intrinsic value of $180.36 per share. At $113.59 on Oct 17, 2026, the stock trades 37% below that value. Over the last 10 fiscal years revenue grew 8.4% a year to $545.1M, with an average return on invested capital of 13.9%.
- Graham intrinsic value
- $180.36
- Share price (Oct 17, 2026)
- $113.59
- Price vs Graham value
- 37% below
- Market cap
- $2.1B
- Revenue (FY2025)
- $545.1M
- Revenue growth (10-yr CAGR)
- 8.4%
- ROIC (10-yr avg)
- 13.9%
- Free cash flow (FY2025)
- $128.4M
MCRI 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $545.1M | $101.4M | $5.43 | $128.4M | — | 21.9% |
| FY2024 | $522.2M | $72.8M | $3.84 | $93.3M | — | 15.1% |
| FY2023 | $501.5M | $82.4M | $4.20 | $124.0M | — | 16.4% |
| FY2022 | $477.9M | $87.5M | $4.47 | $100.3M | — | 17.3% |
| FY2021 | $395.4M | $68.5M | $3.53 | $81.2M | — | 16.1% |
| FY2020 | $184.4M | $23.7M | $1.25 | -$57.2M | — | 7.3% |
| FY2019 | $249.2M | $31.8M | $1.70 | -$62.1M | — | 10.8% |
| FY2018 | $240.3M | $34.1M | $1.83 | -$78.3M | — | 12.0% |
| FY2017 | $279.3M | $25.5M | $1.39 | -$536.0K | 14.6% | 11.2% |
| FY2016 | $264.1M | $24.6M | $1.39 | $17.6M | 14.6% | 10.7% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
MONARCH CASINO & RESORT INC is a consistent compounder, expanding top-line revenue at 8.4% annually over the past decade.
MONARCH CASINO & RESORT INC returns on capital have been average, hovering around 14.1% ROIC over the decade.
MONARCH CASINO & RESORT INC has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, MONARCH CASINO & RESORT INC is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $180.36 per share.