Marcus Corp. (MCS)
NYSE:MCS
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Marcus
(NYSE:MCS)
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Rating:64Neutral
Price Target:
$20.50
▲(3.43% Upside)
Action:ReiteratedDate:04/30/26
The score reflects improving but still lower-quality fundamentals (thin margins and volatile free-cash-flow conversion) balanced by constructive price momentum and a positive earnings-call outlook centered on capex reductions driving better free cash flow. Valuation is acceptable but not a major catalyst at a ~20 P/E and ~1.6% yield.
Positive Factors
Theater Outperformance & Pricing
Marcus’ theaters materially outperformed the U.S. box office and raised average admission pricing, indicating durable market positioning and pricing power in key markets. Combined with digital concession initiatives, this supports sustainable per-customer revenue growth and resilience versus competitors over multiple quarters.
Negative Factors
Thin Profit Margins
Operating and net margins are very slim, leaving the business exposed to modest cost increases or revenue setbacks. Thin margins limit internal reinvestment and amplify earnings volatility, meaning small adverse shifts in box office, ADRs, or costs can quickly erode profitability and cash generation.
Read all positive and negative factors
Positive Factors
Negative Factors
Theater Outperformance & Pricing
Marcus’ theaters materially outperformed the U.S. box office and raised average admission pricing, indicating durable market positioning and pricing power in key markets. Combined with digital concession initiatives, this supports sustainable per-customer revenue growth and resilience versus competitors over multiple quarters.
Read all positive factors
Marcus (MCS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$529.30M
Dividend Yield1.97%
Average Volume (3M)131.12K
Price to Earnings (P/E)20.0
Beta (1Y)0.68
Revenue Growth3.11%
EPS Growth207.66%
CountryUS
Employees2,907
SectorCommunication Services
Sector Strength97
IndustryEntertainment
Share Statistics
EPS (TTM)-0.51
Shares Outstanding23,753,628
10 Day Avg. Volume155,300
30 Day Avg. Volume131,115
Financial Highlights & Ratios
PEG Ratio-0.14
Price to Book (P/B)1.04
Price to Sales (P/S)0.63
P/FCF Ratio482.52
Enterprise Value/Market Cap1.71
Enterprise Value/Revenue1.18
Enterprise Value/Gross Profit1.04
Enterprise Value/Ebitda9.77
Forecast
1Y Price Target
$23.50Price Target Upside18.57% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)0.57
Revenue Forecast (FY)$790.66M
Marcus Business Overview & Revenue Model
Company Description
The Marcus Corporation, together with its subsidiaries, owns and operates movie theatres, and hotels and resorts in the United States. It operates in two segments, Theatres, and Hotels and Resorts. The Theatres segment operates multiscreen motion ...
How the Company Makes Money
Marcus generates revenue primarily through interest income and fees associated with its consumer financial products. For deposit products (savings accounts and CDs), the platform gathers customer deposits that Goldman Sachs can use as a funding so...
Marcus Earnings Call Summary
Earnings Call Date:Apr 30, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 05, 2026
Earnings Call Sentiment Positive
Overall the call conveyed a positive tone: strong operational performance in theaters with meaningful revenue and adjusted-EBITDA gains on a comparable basis, notable RevPAR and occupancy outperformance in hotels despite ADR pressure, substantial free-cash-flow improvement driven by lower CapEx, and a healthy balance sheet. The primary negatives were a continued operating loss, a decline in hotels adjusted EBITDA and some hotel F&B/other revenue softness, as well as an accounting/calendar headwind of 5 fewer operating days. On balance, the positive operational momentum and liquidity improvements outweigh the headwinds described.Positive Updates
Consolidated Revenue Growth (Comparable Basis)
Consolidated revenues of $154.4M increased $5.6M or 3.8% year-over-year as reported; excluding the 5 fewer operating days in the prior-year period, comparable calendar-quarter revenue rose $20.9M or 15.6%.
Negative Updates
Operating Loss Persists
Operating loss for the quarter was $19.3M, though improved by $1.2M versus the prior-year quarter.
Read all updates
Q1-2026 Updates
Positive
Negative
Consolidated Revenue Growth (Comparable Basis)
Consolidated revenues of $154.4M increased $5.6M or 3.8% year-over-year as reported; excluding the 5 fewer operating days in the prior-year period, comparable calendar-quarter revenue rose $20.9M or 15.6%.
Read all positive updates
Company Guidance
Management reiterated 2026 capital spending guidance of $50–$55 million (about a $30 million planned reduction), noting Q1 capex of $6.6M (down $16.4M YoY) and saying the lower CapEx should produce a meaningful uplift in free cash flow — Q1 free cash flow improved by $36.5M YoY — while cash flow from operations was a use of $15.2M (vs. $35.3M a year ago). The company finished the quarter with >$11M cash and >$194M total liquidity, a debt‑to‑capital ratio of 28% and net leverage of 1.7x, repurchased ~87,000 shares for $1.3M in Q1, and reiterated a balanced capital allocation strategy (quarterly dividend, opportunistic buybacks and M&A optionality) while saying it will update capex expectations as the year progresses.Marcus Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
62
Positive
Cash Flow
55
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 764.10M | 758.46M | 735.56M | 729.58M | 677.39M | 458.24M |
| Gross Profit | 868.52M | 777.95M | 327.84M | 286.54M | 257.39M | 183.74M |
| EBITDA | 92.46M | 90.37M | 68.72M | 101.67M | 80.41M | 31.84M |
| Net Income | 14.15M | 12.69M | -7.79M | 14.79M | -11.97M | -43.29M |
Balance Sheet | ||||||
| Total Assets | 992.06M | 1.01B | 1.04B | 1.07B | 1.06B | 1.19B |
| Cash, Cash Equivalents and Short-Term Investments | 11.23M | 23.45M | 48.98M | 60.95M | 25.64M | 22.27M |
| Total Debt | 397.42M | 335.48M | 352.63M | 379.06M | 407.77M | 515.10M |
| Total Liabilities | 456.91M | 557.15M | 579.66M | 593.93M | 607.68M | 734.75M |
| Stockholders Equity | 992.06M | 457.38M | 464.87M | 471.17M | 456.92M | 453.61M |
Cash Flow | ||||||
| Free Cash Flow | 37.45M | 989.00K | 24.73M | 63.85M | 56.37M | 29.17M |
| Operating Cash Flow | 104.31M | 84.20M | 103.94M | 102.63M | 93.21M | 46.25M |
| Investing Cash Flow | -55.22M | -71.37M | -81.90M | -36.75M | -346.00K | 10.88M |
| Financing Cash Flow | -50.45M | -30.82M | -37.30M | -30.55M | -92.41M | -47.17M |
Marcus Technical Analysis
Positive
19.82
Price Trends
16.90
Positive
16.15
Positive
15.68
Positive
Market Momentum
0.79
Negative
72.23
Negative
75.41
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MCS, the sentiment is Positive. The current price of 19.82 is above the 20-day moving average (MA) of 17.95, above the 50-day MA of 16.90, and above the 200-day MA of 15.68, indicating a bullish trend. The MACD of 0.79 indicates Negative momentum. The RSI at 72.23 is Negative, neither overbought nor oversold. The STOCH value of 75.41 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MCS.
Marcus Risk Analysis
Marcus disclosed 29 risk factors in its most recent earnings report. Marcus reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Marcus Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | $2.05B | 56.84 | 10.67% | ― | 16.47% | 31.16% | |
64 Neutral | $529.30M | 20.03 | 2.82% | 1.97% | 3.11% | 207.66% | |
61 Neutral | $3.45B | 19.44 | 25.84% | 1.45% | 2.15% | -52.29% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
59 Neutral | $307.92M | -2.36 | -19.80% | ― | ― | ― | |
52 Neutral | $885.85M | -1.27 | 35.45% | ― | 4.57% | -15.56% | |
50 Neutral | $362.64M | -1.88 | 9.18% | ― | -4.52% | ― |
* Communication Services Sector Average
MCS
Marcus
17.62
1.51
9.37%
AMCX
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CNK
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29.52
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IMAX
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38.02
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57.43%
AMC
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1.52
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-42.64%
STRZ
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18.34
7.91
75.84%
Marcus Corporate Events
Executive/Board Changes
Marcus Announces Leadership Succession at Marcus Theatres
Neutral
Apr 30, 2026
On October 30, 2025, Marcus Corporation announced that Mark A. Gramz, president of Marcus Theatres, would retire following a 55-year career with the company, initially scheduled for March 31, 2026 and later adjusted to May 1, 2026. Gramz, who rose...
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.