Cirsa Enterprises, S.A.U. (ES:CIRSA)
BME:CIRSA
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Cirsa Enterprises, S.A.U.
(BME:CIRSA)
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Rating:49Neutral
Price Target:
€14.00
▲(0.00% Upside)
Action:ReiteratedDate:03/03/26
The score is held back primarily by the highly leveraged balance sheet and recent revenue volatility, despite strong free cash flow generation. Technicals also point to near-term weakness with the stock below key moving averages and soft momentum. Valuation impact is neutral because P/E and dividend yield were not provided.
Positive Factors
Strong operating cash flow
Consistently strong operating and free cash flow provide durable internal funding for capex, payouts, and debt servicing. That persistent cash generation supports operational resilience and strategic flexibility even if reported earnings swing year-to-year.
Negative Factors
Extremely high leverage
A very small equity base and rising debt leave the capital structure highly stretched, raising refinancing, covenant and solvency risks. Structural leverage limits strategic optionality, increases interest exposure and magnifies downside in adverse operating or rate environments.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong operating cash flow
Consistently strong operating and free cash flow provide durable internal funding for capex, payouts, and debt servicing. That persistent cash generation supports operational resilience and strategic flexibility even if reported earnings swing year-to-year.
Read all positive factors
Cirsa Enterprises, S.A.U. (CIRSA) vs. iShares MSCI Spain ETF (EWP)
Market Cap
€2.16B
Dividend YieldN/A
Average Volume (3M)117.24K
Price to Earnings (P/E)21.2
Beta (1Y)0.40
Revenue Growth7.78%
EPS GrowthN/A
CountryES
Employees15,510
SectorServices
Sector StrengthN/A
IndustryConglomerates
Share Statistics
EPS (TTM)0.29
Shares Outstanding167,992,660
10 Day Avg. Volume100,688
30 Day Avg. Volume117,240
Financial Highlights & Ratios
PEG Ratio0.07
Price to Book (P/B)3.49
Price to Sales (P/S)1.51
P/FCF Ratio5.70
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€19.35Price Target Upside38.21% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)1.65
Revenue Forecast (FY)€2.52B
Cirsa Enterprises, S.A.U. Business Overview & Revenue Model
Company Description
Cirsa Enterprises, S.A. is a gaming company, together with its subsidiaries, engages in the operation of slot machines, casinos, and gaming halls in Spain, Italy, Panama, Colombia, Mexico, Costa Rica, Morocco, Dominican Republic, and Peru. The com...
How the Company Makes Money
CIRSA makes money primarily by operating gambling venues and gaming machines and by offering online gambling products where it is licensed. Key revenue streams typically include: (1) Gaming win from land-based casinos (the difference between amoun...
Cirsa Enterprises, S.A.U. Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
29
Negative
Cash Flow
74
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.65B | 2.15B | 1.99B | 1.70B | 798.09M |
| Gross Profit | 872.48M | 1.20B | 1.08B | 928.04M | 34.17M |
| EBITDA | 796.63M | 685.69M | 631.61M | 545.23M | 320.03M |
| Net Income | 72.94M | 12.63M | 80.03M | 56.57M | -150.87M |
Balance Sheet | |||||
| Total Assets | 3.86B | 3.74B | 3.57B | 3.34B | 3.26B |
| Cash, Cash Equivalents and Short-Term Investments | 313.07M | 287.18M | 271.89M | 237.63M | 280.20M |
| Total Debt | 2.20B | 2.68B | 2.46B | 2.46B | 2.84B |
| Total Liabilities | 3.05B | 3.54B | 3.14B | 3.05B | 3.14B |
| Stockholders Equity | 711.42M | 75.71M | 322.63M | 108.37M | 25.35M |
Cash Flow | |||||
| Free Cash Flow | 436.32M | 415.88M | 377.68M | 369.22M | 109.84M |
| Operating Cash Flow | 524.17M | 607.36M | 544.43M | 513.70M | 169.67M |
| Investing Cash Flow | -492.44M | -286.06M | -224.18M | -219.28M | -135.49M |
| Financing Cash Flow | 28.63M | -314.97M | -283.65M | -361.62M | -36.42M |
Cirsa Enterprises, S.A.U. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | €2.45B | 22.66 | 19.61% | 1.84% | 3.22% | 20.93% | |
62 Neutral | €1.16B | ― | 11.53% | 12.71% | -2.74% | -48.37% | |
55 Neutral | $13.29B | 17.42 | 10.03% | 0.93% | 7.13% | -12.93% | |
54 Neutral | €944.49M | 9.06 | 41.93% | 7.10% | -4.91% | 0.49% | |
50 Neutral | €1.46B | 10.55 | 16.00% | 4.98% | -1.72% | 37.69% | |
49 Neutral | €2.16B | 21.16 | 11.49% | ― | 7.78% | ― |
* Services Sector Average
ES:CIRSA
Cirsa Enterprises, S.A.U.
12.88
-1.61
-11.13%
ES:A3M
Atresmedia Corporacion de Medios de Comunicacion, S.A
5.16
-0.07
-1.26%
ES:MEL
MELIA HOTELS INTERNATIONAL
11.15
4.78
75.12%
ES:CASH
Prosegur Cash
0.66
-0.10
-13.31%
ES:PSG
Prosegur Compania de Seguridad
2.74
0.19
7.63%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.