Assay
Financial-condition grades for SEC filers
Company Report · as of Oct 9, 2026
|
| Monarch Casino & Resort Inc.MCRI · other | |
|---|---|
| Grade |  Dfourth fifth of 336 graded peers; percentile 72.2, sampling error 2.6 points; lower is stronger |
| Rank | 243 of 336 |
| Profitability | Cpercentile 48.4 |
| Solvency | Dpercentile 72.1 |
| Growth and financing | Cpercentile 46.9 |
| Reliability | 0.91 AUCfailure model, filers with $591M to $2.67B assets; 95% interval 0.88 to 0.94; 160 events, 2020 to 2025 |
| Peer failure rate | 1.01% a yearItem 1.03 bankruptcies, same asset band, 2012 to 2025 |
| Size band | $591M to $2.67B assetstotal assets $712.8M[1] |
| Standard universe | insiderevenue above $1M and assets above $10M[1-2] |
| Warnings | none activenot computable: short runway, distress |
| Inputs computable | 8 of 14 |
| Graded from | filings received through Feb 24, 2026227 days before the rescan; every figure keyed to the SEC receipt date |
| Last close | $115.582026-10-08; market equity $2.1B; iex feed |
| Price used in grade | None |
| Share price, twelve months to the rescansplit-adjusted close; a lollipop at every rescan carries the letter held then; baseline ticks are SEC receipt dates of the inputs; ranges and dragging scroll the full history | ||||||||||||||||||||||||||||||||||||||||||||||||
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Percentile at every rescan on file, Jan 21, 2012 to Oct 9, 2026; stronger toward the top. Hover for the date. Open this report as it stood on | ||||||||||||||||||||||||||||||||||||||||||||||||
Each date opens the report as it stood on that rescan. |
Business, in the company's words. Opening of Item 1 of the 10-K received Feb 24, 2026; the document on sec.gov.
Monarch Casino & Resort, Inc. was incorporated in Nevada in 1993 and, along with its consolidated subsidiaries, is referred to collectively in this Annual Report on Form 10-K as “Monarch,” “the Company,” “we,” “our,” and “us.” Monarch owns and operates the Atlantis Casino Resort Spa, a hotel and casino in Reno, Nevada (the “Atlantis”) and the Monarch Casino Resort Spa Black Hawk (the “Monarch Black Hawk”), a hotel and casino in Black Hawk, Colorado. In addition, we own separate parcels of land located next to the Atlantis and a parcel of land with an industrial warehouse located between Denver, Colorado and Monarch Black Hawk. We also own Chicago Dogs Eatery, Inc.
The Fourteen Inputs [top]
Lower percentile is stronger. Source numbers open the SEC filing; a range that spans filings opens the sources table.
| Input | Percentile, 0 to 100 | Value | Source | Peer median | Percentile | Peers | Period end |
|---|---|---|---|---|---|---|---|
| Profitability, sleeve percentile 48.4 | |||||||
| Gross profitability | 17.9% | [1,3] | 27.1% | 64.6 | 289 | 2025-12-31 | |
| Return on invested capital | not computable | 10.0% | |||||
| latest aligned inputs end 2014-12-31; latest annual assets end 2025-12-31 | |||||||
| Accruals ratio | (9.0%) | [1,4-6] | (5.9%) | 31.9 | 506 | 2025-12-31 | |
| Gross margin stability, five years | 2.1 pts | [2-3,7-14] | 2.2 pts | 48.8 | 204 | 2025-12-31 | |
| Solvency, sleeve percentile 72.1 | |||||||
| Twelve-month failure probability | not computable | 0.04% | |||||
| latest liabilities, cash plus short-term investments, book equity, and shares are required | |||||||
| Altman Z double-prime | not computable | 2.05 | |||||
| latest aligned inputs end 2017-12-31; latest annual assets end 2025-12-31 | |||||||
| Net debt to EBITDA | not computable | 2.52x | |||||
| latest aligned inputs end 2014-12-31; latest annual assets end 2025-12-31 | |||||||
| Interest coverage | not computable | 2.18x | |||||
| latest aligned inputs end 2017-12-31; latest annual assets end 2025-12-31 | |||||||
| Current ratio | 0.86x | [15-16] | 1.32x | 72.1 | 506 | 2025-12-31 | |
| Growth and financing, sleeve percentile 46.9 | |||||||
| Revenue growth, three-year compound | 4.5% | [2,8,10,12] | 5.1% | 49.3 | 403 | 2025-12-31 | |
| Free cash flow growth, three-year compound | 8.6% | [5,17-23] | 8.7% | 49.3 | 220 | 2025-12-31 | |
| Reinvestment rate | not computable | 11.9% | |||||
| latest aligned inputs end 2017-12-31; latest annual assets end 2025-12-31 | |||||||
| Asset growth, three years | 0.9% | [1,6,24-25] | 4.1% | 62.0 | 438 | 2025-12-31 | |
| Net share issuance, one year | (3.1%) | [26-27] | (0.4%) | 27.0 | 356 | 2026-02-16 | |
Gross profitability. Revenue less cost of goods sold, over total assets.
Accruals ratio. Net income less operating cash flow, over average assets; lower is stronger.
Gross margin stability, five years. Standard deviation of gross margin; lower is stronger.
Twelve-month failure probability. CHS model; lower is stronger.
Net debt to EBITDA. Lower is stronger.
Net share issuance, one year. Split-adjusted; lower is stronger.
Sleeves are equal-weighted; within a sleeve each computable input carries equal weight. Composite 0.134; sampling error 2.6 percentile points on 336 peers.
Among 336 Peers [top]
Composite score of every graded peer, smoothed. Vertical rules are the letter band edges at the 20th, 40th, 60th and 80th percentiles. Small dots are the six largest peers by market equity.
| Rank | Company | Percentile | Letter | Warnings |
|---|---|---|---|---|
| 238 | Payoneer Global Inc. (PAYO) Payoneer Global Inc. (PAYO) Dfourth fifth; percentile 70.7 Nasdaq · Services-Business Services, NEC market equity $2.4B; last close $7.16 No active warnings; 8 of 14 inputs | 70.7 | D | |
| 239 | CuriosityStream Inc. (CURI) CuriosityStream Inc. (CURI) Dfourth fifth; percentile 71.0 Nasdaq · Services-Motion Picture & Video Tape Production market equity $174.5M; last close $2.94 No active warnings; 7 of 14 inputs | 71.0 | D | |
| 240 | Travel & Leisure Co. (TNL) Travel & Leisure Co. (TNL) Dfourth fifth; percentile 71.3 NYSE · Hotels & Motels market equity $3.8B; last close $62.61 No active warnings; 9 of 14 inputs | 71.3 | D | |
| 241 | Alight, Inc. Delaware (ALIT) Alight, Inc. Delaware (ALIT) Dfourth fifth; percentile 71.6 NYSE · Services-Business Services, NEC market equity $218.0M; last close $9.78 No active warnings; 7 of 14 inputs | 71.6 | D | |
| 242 | Royal Caribbean Cruises Ltd. (RCL) Royal Caribbean Cruises Ltd. (RCL) Dfourth fifth; percentile 71.9 NYSE · Water Transportation market equity $75.3B; last close $281.36 No active warnings; 9 of 14 inputs | 71.9 | D | |
| 243 | Monarch Casino & Resort Inc. (MCRI) Monarch Casino & Resort Inc. (MCRI) Dfourth fifth; percentile 72.2 Nasdaq · Hotels & Motels market equity $2.0B; last close $115.58 No active warnings; 8 of 14 inputs | 72.2 | D | |
| 244 | Priority Technology Holdings, Inc. (PRTH) Priority Technology Holdings, Inc. (PRTH) Dfourth fifth; percentile 72.5 Nasdaq · Services-Business Services, NEC last close $7.79 No active warnings; 7 of 14 inputs | 72.5 | D | |
| 245 | Genco Shipping & Trading Ltd. (GNK) Genco Shipping & Trading Ltd. (GNK) Dfourth fifth; percentile 72.8 NYSE · Deep Sea Foreign Transportation of Freight market equity $1.2B; last close $27.79 No active warnings; 7 of 14 inputs | 72.8 | D | |
| 246 | Warner Music Group Corp. (WMG) Warner Music Group Corp. (WMG) Dfourth fifth; percentile 73.1 Nasdaq · Services-Amusement & Recreation Services last close $28.90 No active warnings; 11 of 14 inputs | 73.1 | D | |
| 247 | PayPal Holdings, Inc. (PYPL) PayPal Holdings, Inc. (PYPL) Dfourth fifth; percentile 73.4 Nasdaq · Services-Business Services, NEC market equity $48.5B; last close $55.03 No active warnings; 8 of 14 inputs | 73.4 | D | |
| 248 | Groupon, Inc. (GRPN) Groupon, Inc. (GRPN) Dfourth fifth; percentile 73.7 Nasdaq · Services-Advertising Agencies market equity $777.5M; last close $19.10 No active warnings; 9 of 14 inputs | 73.7 | D |
| Peer policy | Letter | Percentile | Peers |
|---|---|---|---|
| all graded filers, equal sleeves | D | 76.7 | 2204 |
| sector peers, equal sleeves (the grade) | D | 72.2 | 336 |
| same exchange, equal sleeves | D | 77.3 | 1219 |
| sector peers, equal inputs | C/D | 60.9 | 336 |
Each letter is one fifth of the 336 graded peers, about 67 companies. A boundary letter (A/B, B/C, C/D, D/E) marks a percentile within one sampling error of a band edge.
What the Price Implies [top]
Market measures at the 2026-10-08 close. None enters the grade. Percentile among graded peers with the same measure.
| Measure | Value | Peer median | Percentile | Reading |
|---|---|---|---|---|
| Twelve-month price change, skipping the latest month | 14.5% | 2.0% | 60 | hotter than 60 of 100 peers |
| Distance from 52-week high | (13.8%) | (26.8%) | 72 | closer to its high than 72 of 100 peers |
| EBIT to enterprise value | 2.0% | 4.4% | 26 | pricier than 74 of 100 peers |
| Free cash flow yield | 6.3% | 4.1% | 67 | pricier than 33 of 100 peers |
| Book value to price | 0.27 | 0.34 | 41 | pricier than 59 of 100 peers |
| Sales to price | 0.27 | 0.70 | 22 | pricier than 78 of 100 peers |
| Composite equity issuance, five years | (15.2%) | (8.8%) | 39 | more equity-funded than 39 of 100 peers |
| Relative strength against the sector, log excess return | (0.01) | (0.13) | 60 | ahead of 60 of 100 peers |
Inputs: market equity $2.0B; EBIT $40.7M; free cash flow $128.4M; book equity $549.8M; sales $545.1M; debt $37.9M; cash $23.8M[28].
Diagnostics [top]
Diagnostics do not feed the grade.
| Piotroski F-score: None of 9, period end 2025-12-31 | ||
|---|---|---|
| Return on assets above zero | 14.7% | ✓ pass[4,6] |
| Operating cash flow above zero | $164.7M | ✓ pass[5] |
| Return on assets improved | 4.0 pts | ✓ pass[4,6,24,29] |
| Operating cash flow exceeds net income | $63.4M | ✓ pass[4-5] |
| Long-term leverage fell | n/a[1,6,24] | |
| Current ratio improved | 24.3 pts | ✓ pass[15-16,30-31] |
| No new shares issued | (3.1%) | ✓ pass[26-27] |
| Gross margin improved | 5.7 pts | ✓ pass[2-3,7-8] |
| Asset turnover improved | 2.1 pts | ✓ pass[2,6,8,24] |
| Cash, filings, liquidity | |
|---|---|
| Cash and equivalents | n/a |
| Operating cash flow, four quarters | n/a[5,32-35] |
| Months of runway | not finite |
| cash is missing at the end of the latest cash-flow quarter | |
| Late filings, two years | 0 |
| NT 10-K or NT 10-Q | |
| Days since last periodic filing | 73 |
| 10-Q received Jul 28, 2026 | |
| Median daily dollar volume | $17.5M |
| 63 sessions | |
| Days since newest grade input | 227 |
Downloads [top]
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Sources [top]
Every citation on this page. Filing opens the SEC index page for that submission; viewer opens the SEC interactive data for the same filing; series opens the SEC XBRL API record for that tag and company.
| # | Concept | XBRL tag | Value | Period end | Received | Form | Links |
|---|---|---|---|---|---|---|---|
| 1 | assets | us-gaap:Assets | $712.8M | 2025-12-31 | 2026-02-24 | 10-K | filing · viewer · series |
| 2 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $545.1M | 2025-12-31 | 2026-02-24 | 10-K | filing · viewer · series |
| 3 | gross profit | us-gaap:GrossProfit | $127.5M | 2025-12-31 | 2026-02-24 | 10-K | filing · viewer · series |
| 4 | net income | us-gaap:NetIncomeLoss | $101.4M | 2025-12-31 | 2026-02-24 | 10-K | filing · viewer · series |
| 5 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $164.7M | 2025-12-31 | 2026-02-24 | 10-K | filing · viewer · series |
| 6 | assets | us-gaap:Assets | $691.6M | 2024-12-31 | 2026-02-24 | 10-K | filing · viewer · series |
| 7 | gross profit | us-gaap:GrossProfit | $92.5M | 2024-12-31 | 2026-02-24 | 10-K | filing · viewer · series |
| 8 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $522.2M | 2024-12-31 | 2026-02-24 | 10-K | filing · viewer · series |
| 9 | gross profit | us-gaap:GrossProfit | $110.2M | 2023-12-31 | 2026-02-24 | 10-K | filing · viewer · series |
| 10 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $501.5M | 2023-12-31 | 2026-02-24 | 10-K | filing · viewer · series |
| 11 | gross profit | us-gaap:GrossProfit | $111.4M | 2022-12-31 | 2025-03-03 | 10-K | filing · viewer · series |
| 12 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $477.9M | 2022-12-31 | 2025-03-03 | 10-K | filing · viewer · series |
| 13 | gross profit | us-gaap:GrossProfit | $89.9M | 2021-12-31 | 2024-02-28 | 10-K | filing · viewer · series |
| 14 | revenue | us-gaap:Revenues | $395.4M | 2021-12-31 | 2022-02-28 | 10-K | filing · viewer · series |
| 15 | current assets | us-gaap:AssetsCurrent | $129.3M | 2025-12-31 | 2026-02-24 | 10-K | filing · viewer · series |
| 16 | current liabilities | us-gaap:LiabilitiesCurrent | $150.2M | 2025-12-31 | 2026-02-24 | 10-K | filing · viewer · series |
| 17 | capital expenditure | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | $36.3M | 2025-12-31 | 2026-02-24 | 10-K | filing · viewer · series |
| 18 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $140.7M | 2024-12-31 | 2026-02-24 | 10-K | filing · viewer · series |
| 19 | capital expenditure | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | $47.4M | 2024-12-31 | 2026-02-24 | 10-K | filing · viewer · series |
| 20 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $173.0M | 2023-12-31 | 2026-02-24 | 10-K | filing · viewer · series |
| 21 | capital expenditure | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | $49.0M | 2023-12-31 | 2026-02-24 | 10-K | filing · viewer · series |
| 22 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $139.8M | 2022-12-31 | 2025-03-03 | 10-K | filing · viewer · series |
| 23 | capital expenditure | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | $39.5M | 2022-12-31 | 2025-03-03 | 10-K | filing · viewer · series |
| 24 | assets | us-gaap:Assets | $680.9M | 2023-12-31 | 2025-03-03 | 10-K | filing · viewer · series |
| 25 | assets | us-gaap:Assets | $692.9M | 2022-12-31 | 2024-02-28 | 10-K | filing · viewer · series |
| 26 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 17,886,120 | 2026-02-16 | 2026-02-24 | 10-K | filing · viewer · series |
| 27 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 18,461,306 | 2025-02-27 | 2025-03-03 | 10-K | filing · viewer · series |
| 28 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 17,749,516 | 2026-04-23 | 2026-04-30 | 10-Q | filing · viewer · series |
| 29 | net income | us-gaap:NetIncomeLoss | $72.8M | 2024-12-31 | 2026-02-24 | 10-K | filing · viewer · series |
| 30 | current assets | us-gaap:AssetsCurrent | $90.4M | 2024-12-31 | 2026-02-24 | 10-K | filing · viewer · series |
| 31 | current liabilities | us-gaap:LiabilitiesCurrent | $146.5M | 2024-12-31 | 2026-02-24 | 10-K | filing · viewer · series |
| 32 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $48.5M | 2026-03-31 | 2026-04-30 | 10-Q | filing · viewer · series |
| 33 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $126.6M | 2025-09-30 | 2025-10-28 | 10-Q | filing · viewer · series |
| 34 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $70.6M | 2025-06-30 | 2025-07-29 | 10-Q | filing · viewer · series |
| 35 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $36.5M | 2025-03-31 | 2026-04-30 | 10-Q | filing · viewer · series |
Limitations [top]
Grade boundary. Percentile 72.2 is 7.8 points from the nearest band edge; sampling error is 2.6 points.
Peer group. Sector assignment from four-digit SIC codes, hand-tuned and published. The grade under three alternative peer policies is tabled above.
Size. Within a sector the letter tracks size. Among graded filers in the smallest asset band, 72% grade E and 0% grade A; in the largest, 13% grade E and 21% grade A. Universe as of Oct 9, 2026.
Failure model. filings 2012-01-01 to 2019-12-31 fit, filings 2020-01-01 to 2025-12-31 test; status post hoc pending confirmation. pre-registered on 2026 filings once their 12-month outcome windows close; supported if the paired per-quintile gain over the pooled model has a lower bound above 0.05.
Input validity. Revenue or total assets at or below $100,000 sets the degenerate-inputs flag. An input whose denominator is at or below $100,000 is left not computable rather than ranked.
Returns. No input on this page has a post-2015 confidence interval on returns that excludes zero. The grade ranks reported financial condition and is not a return forecast.
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