Accel Entertainment Inc logo

Accel Entertainment Inc(ACEL)

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ADVISORIES YOU CAN VERIFY
QUALITY SIGNAL
1-STAR RATING
PASS
LAST CLOSE
$11.07
09/25/2026
(24-hour delay)

Advisory History & Simulated Performance *

*as per simulation (see disclosures)
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Upturn Advisory & Investor View for ACEL

09/25/2026: ACEL (1-star) is currently NOT-A-BUY. Pass it for now.

Accel Entertainment is a significant distributed gaming operator in the US, primarily known for installing and managing slot machines in bars and restaurants. Its core strength lies in a data-driven approach and a widespread network of partner establishments that create recurring revenue. The company's main growth opportunity is expanding its footprint into new states as regulations evolve. However, it faces notable risks, including legislative sensitivity, geographic revenue concentration in Illinois, and potential competition from digital gaming alternatives. The stock is best suited for growth-oriented investors who can tolerate regulatory and volatility-related risks; key developments to monitor include state-level legislative changes and the successful integration of new acquisitions.

How to Read the Upturn Advisory

The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.

Company fundamentals, valuation, risks, and news provide supporting context about the business.

Investor Fit

Investor styleFitWhy
Growth investorStrong fitAccel fits this profile due to its consistent expansion into new states and high-margin recurring revenue model.
Momentum investorMixed fitThis is a conditional fit based on positive technical signals and sector-wide bullish trends.
Value investorMixed fitThe valuation often depends on regulatory risk perceptions, making it an attractive play for those who believe those risks are priced in.
Dividend investorWeak fitAccel does not pay a dividend, making it unsuitable for income-focused portfolios.
Low-risk investorWeak fitHigh regulatory sensitivity and small-cap volatility make this a risky choice for conservative investors.

Risk Profile

Risk factorLevelWhy it matters
Price volatilityMedium / highThe stock is susceptible to swings based on legislative news and broader small-cap market sentiment.
Valuation riskMediumGrowth expectations are often tied to regulatory catalysts that are inherently uncertain.
Competition risk (distributed gaming)MediumLocal regional operators constantly compete for the same lucrative establishment contracts.
Business qualityMedium / highThe business has strong recurring revenue characteristics but is geographically concentrated.
Dividend incomeLow / noneThe company retains all earnings for growth, providing zero immediate cash yield.
Execution riskMediumIntegrating new acquisitions and entering new states requires complex regulatory compliance.

Price Behavior

Rolling Over
PRICE PATH

Rolling Over

The price momentum is slowing down and beginning to turn downward.

Moderately Choppy
PRICE STABILITY

Moderately Choppy

The stock has experienced noticeable price swings while retaining some directional structure.

Analysis of Past Performance

Type Stock
Historic Profit -13.64%
Avg. Invested days 49
Today’s Advisory PASS
Upturn Advisory Rating upturn star rating icon
Upturn Advisory Performance Upturn Advisory Performance icon 3.0
Stock Returns Performance Upturn Returns Performance icon 1.0
Upturn Profits based on simulation icon Profits based on simulation
Upturn last close icon Last Close 09/25/2026

Upturn Scorecard

Upturn Star Rating

★★★★★
ACEL receives a 3-star rating, supported by solid company fundamentals, and solid analyst coverage. The rating is constrained by weak price momentum.

Company Fundamentals

★★★★★
ACEL has solid overall fundamentals (4 stars), with moderate financial health, solid growth momentum, and strong ownership. In FY2025 versus FY2024, strong earnings growth (+46.0%) is partially offset by soft cash generation (FCF margin 4.7%), moderate revenue growth (+8.1%), soft profitability (net margin 3.9%).

Financial Health Rating

★★★★★
ACEL's financial health is supported by solid cash strength, including free-cash-flow generation (4.7% of revenue). Profitability is moderate (3 stars), which helps explain the 3-star overall score.

Growth Momentum Score

★★★★★
Earnings growth is ACEL's strongest growth driver at +46.0% FY2025 versus FY2024 (strong, 5 stars). By comparison, free-cash-flow growth (+13.4%, solid) is also solid, while revenue growth (+8.1%, moderate) holds the profile back, so recent growth is not broad-based across the business.

Ownership

★★★★★
Institutional ownership is 77.0% and approximately 53.9% of outstanding shares are publicly tradable, supporting liquidity and institutional participation. Insider ownership of 14.12% supports management-shareholder alignment.

Top 5 Institutional Investors

Darlington Partners Capital Management, LP 9.97%
Greenvale Capital LLP 6.94%
BlackRock Inc 5.10%
Hill Path Capital LP 3.44%
Vanguard Capital Management, LLC 3.20%

Unit Economics (Per $1K Revenue)

★★★★★
ACEL generates approximately $318 of gross profit, $82 of operating income, and $47 of free cash flow for every $1,000 of revenue. Based on FY2025 results. Strong cash conversion and healthy margins support the rating, although capital efficiency remains below the highest tier.

Economic Dimensions

★★★★★
Effective Tax Rate: 28.72%

Quantitative Style Profile

★★★★★
ACEL has a high-quality, liquid profile. Weak momentum is the primary drawback.

Style Classification

Quality Focused

Value-OrientedQuality TiltSmall / Mid Cap RiskHighly Liquid / Institution-Friendly

Key Highlights

Company Size Small-Cap Stock
Market Capitalization 898.81M USD
Price to earnings Ratio 16.52
1Y Target Price 15.57
Price to earnings Ratio 16.52
1Y Target Price 15.57
Volume (30-day avg) 302.3K shares
Beta 1.01
52 Weeks Range 9.55 - 14.00
Updated Date 09/27/2026
52 Weeks Range 9.55 - 14.00
Updated Date 09/27/2026
Dividends yield (FY) -
Basic EPS (TTM) 0.67

How Company Makes Money

Business areaWhat it includesRetail investor read
Distributed GamingRevenue sharing from VGTs and skill-based games in partner locations.The company keeps a portion of the profits generated by every game played on their machines.
Geography: IllinoisPrimary revenue hub and source of core operational cash flow.Investors should note that a significant portion of earnings is tied to one state's gaming laws.

Analyzing Revenue: Products, Geography and Growth

Revenue by Products

Product revenue - Year on Year

Revenue by Geography

Geography revenue - Year on Year

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Valuation

Trailing PE 16.52
Forward PE 16.05
Enterprise Value 1.22B
Price to Sales(TTM) 0.65
Enterprise Value 1.22B
Price to Sales(TTM) 0.65
Enterprise Value to Revenue 0.88
Enterprise Value to EBITDA 6.28
Shares Outstanding 81.19M
Shares Floating 43.76M
Shares Outstanding 81.19M
Shares Floating 43.76M
Percent Insiders 14.12
Percent Institutions 77.03

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Financial Metrics

🧭 Investment Snapshot

Total Revenue (Scale)

Information icon Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.

Net Income (Profit)

Information icon Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.

Free Cash Flow (Cash Strength)

Information icon Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.

📈 Growth & Strength

Operating Income (Core Profit)

Information icon Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.

EBITDA (Cash Earnings)

Information icon Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.

Gross Profit (Unit Profitability)

Information icon Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.

🛡️ Financial Safety

Cash (Liquidity Buffer)

Information icon Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.

Total Debt (Leverage Risk)

Information icon Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.

Net Working Capital (Short-Term Health)

Information icon Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.

🧱 Balance Sheet Strength

Stockholder Equity (Net Worth)

Information icon Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.

Total Assets (Asset Base)

Information icon The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.

Income Before Tax (Pre-Tax Earnings)

Information icon Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.

⚙️ Cost & Drag Factors

Cost of Revenue (Production Cost)

Information icon Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.

Total Operating Expenses (Operating Cost)

Information icon Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.

Income Tax Expense (Tax Drag)

Information icon Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.

About Accel Entertainment Inc

Exchange NYSE
Headquarters Burr Ridge, IL, United States
IPO Launch date 2019-11-21
Executive Strategic Advisor to CEO Mr. Michael Pappas
Sector Consumer Cyclical
Industry Gambling
Full time employees 1600
Full time employees 1600

Accel Entertainment, Inc., together with its subsidiaries, operates as a distributed gaming operator in the United States. It engages in the installation, maintenance, and operation of gaming terminals; redemption devices that disburse winnings and contain automated teller machine (ATM) functionality; and other amusement devices in authorized non-casino locations, such as restaurants, bars, taverns, convenience stores, liquor stores, truck stops, and grocery stores. The company also designs and manufactures gaming terminals and related equipment, as well as offers turnkey and full-service gaming solutions to bars, restaurants, convenience stores, truck stops, and fraternal and veteran establishments. In addition, it operates stand-alone ATMs in gaming and non-gaming locations, as well as amusement devices, including jukeboxes, dartboards, pool tables, and other entertainment related equipment; and develops brick-and-mortar casinos that serve local gaming markets and horse racing venues. Accel Entertainment, Inc. is headquartered in Burr Ridge, Illinois.