What does operating margin mean?

Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.

Monarch Casino & Resort MCRI Operating margin

Discontinued — last reported Q4 '17

Operating margin at other companies

MGM Resorts InternationalMGM

5.2%-3.1pp

PENN Entertainment, Inc.PENN

-8.8%—

Caesars Entertainment, Inc.CZR

16.2%-4.2pp

Boyd GamingBYD

17.4%-5.5pp

Red Rock Resorts, Inc.RRR

29%-0.1pp

Wynn ResortsWYNN

15.5%+0.6pp

Other financials

Income statement

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Revenue$136.6M+8.9%

Gross profit$34.9M+38.0%

Net income$27.6M+38.9%

EPS (diluted)$1.52+44.8%

Balance sheet

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Cash & equivalents$120.1M+60.0%

Total debt$13.0M-5.6%

Total equity$549.8M+2.7%

Total assets$725.2M+1.8%

Cash flow

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Operating cash flow$48.5M+33.0%

CapEx$5.6M-72.0%

Free cash flow$43.0M+158%

Valuation

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Market cap$2.29B+19.1%

Enterprise value$2.18B+16.6%

P/E21×-4.9×

P/S4.1×+0.5×

Profitability

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Gross margin24.7%+6.8pp

Net margin19.6%+5.5pp

FCF margin27.8%+10.8pp

Returns & leverage

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Return on equity20.1%+5.9pp

Debt / equity0×0.0×

Current ratio1×+0.3×

Where this comes from

Calculated from Monarch Casino & Resort’s reported figures.

operating income/total revenue=17.6%

Based on trailing twelve months.

The official record: Monarch Casino & Resort’s 10-K, filed March 12, 2021, on SEC EDGAR. View the filing →

Questions, answered.

What does operating margin mean?: Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.