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Meridian Holdings
(NASDAQ:MRDN)
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Rating:56Neutral
Price Target:
$15.00
▲(6.38% Upside)
Action:Reiterated
Date:08/05/26
MRDN scores in the mid-range primarily due to strong and improving free cash flow and a favorable price trend (trading above key moving averages). These positives are materially offset by severe profitability deterioration (very negative net margin and ROE), and valuation is hard to assess given negative earnings and no dividend yield data.
Positive Factors
Free Cash Flow Strength
Meridian’s material jump in free cash flow provides durable internal funding to support operations, capex, and debt servicing even while earnings are negative. Strong FCF reduces refinancing risk and gives management flexibility to invest or shore up the business over the next several quarters.
Negative Factors
Severe Profitability Deterioration
Persistently large negative margins and deeply negative ROE reflect structural problems converting revenue into profit. Such losses erode equity, constrain reinvestment capacity, and risk longer-term solvency if cost issues below gross profit aren’t materially fixed over multiple quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Free Cash Flow Strength
Meridian’s material jump in free cash flow provides durable internal funding to support operations, capex, and debt servicing even while earnings are negative. Strong FCF reduces refinancing risk and gives management flexibility to invest or shore up the business over the next several quarters.
Read all positive factors
Meridian Holdings (MRDN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$142.79M
Dividend YieldN/A
Average Volume (3M)216.26K
Price to Earnings (P/E)―
Beta (1Y)0.51
Revenue Growth14.10%
EPS Growth-644.56%
CountryUS
Employees1,200
SectorConsumer Cyclical
Sector Strength84
IndustryGambling, Resorts & Casinos
Share Statistics
EPS (TTM)N/A
Shares Outstanding12,669,479
10 Day Avg. Volume270,124
30 Day Avg. Volume216,256
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)2.39
Price to Sales (P/S)0.61
P/FCF Ratio9.51
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$26.00Price Target Upside84.40% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Meridian Holdings Business Overview & Revenue Model
Company Description
Meridian Holdings Inc. specializes in providing a diverse array of offerings within the casino, sportsbook, and competitive gaming industries. The company operates under several key brands, including R Kings Competitions, MexPlay, and GM-AG. Its o...
Meridian Holdings Financial Statement Overview
Summary
Income Statement
24
Negative
Balance Sheet
46
Neutral
Cash Flow
67
Positive
| Breakdown | TTM | Mar 2026 | Dec 2024 | Oct 2023 | Oct 2022 | Apr 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 197.19M | 182.86M | 151.12M | 92.99M | 36.03M | 60.37M |
| Gross Profit | 109.88M | 103.46M | 88.57M | 68.24M | 9.16M | 45.75M |
| EBITDA | -72.69M | -77.46M | 15.52M | 20.92M | 870.51K | 18.16M |
| Net Income | -81.66M | -89.90M | -1.48M | 13.70M | -250.04K | 12.87M |
Balance Sheet | ||||||
| Total Assets | 115.13M | 118.08M | 213.72M | 35.58M | 32.57M | 20.46M |
| Cash, Cash Equivalents and Short-Term Investments | 17.32M | 18.43M | 30.46M | 17.10M | 14.95M | 16.80M |
| Total Debt | 16.36M | 23.39M | 39.35M | 59.09K | 154.86K | 282.23K |
| Total Liabilities | 63.88M | 69.74M | 104.77M | 4.48M | 2.77M | 1.53M |
| Stockholders Equity | 49.75M | 46.55M | 105.07M | 31.10M | 26.80M | 18.93M |
Cash Flow | ||||||
| Free Cash Flow | 27.85M | 11.71M | 1.92M | 10.60M | 2.61M | 13.28M |
| Operating Cash Flow | 28.20M | 25.36M | 23.92M | 23.69M | 2.77M | 21.16M |
| Investing Cash Flow | -14.28M | -22.00M | -37.43M | -13.07M | -4.41M | -8.55M |
| Financing Cash Flow | -13.04M | -19.40M | 27.71M | -4.15M | 32.00K | -13.10M |
Meridian Holdings Technical Analysis
Positive
14.10
Price Trends
13.20
Positive
10.96
Positive
10.14
Positive
Market Momentum
0.05
Negative
52.91
Neutral
73.52
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MRDN, the sentiment is Positive. The current price of 14.1 is above the 20-day moving average (MA) of 13.39, above the 50-day MA of 13.20, and above the 200-day MA of 10.14, indicating a bullish trend. The MACD of 0.05 indicates Negative momentum. The RSI at 52.91 is Neutral, neither overbought nor oversold. The STOCH value of 73.52 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MRDN.
Meridian Holdings Peers Comparison
UnderperformOutperform
Sector (61)
MRDN
Meridian Holdings
13.74
-3.18
-18.79%
NCTY
The9
5.01
-3.62
-41.95%
GDC
GD Culture Group
1.70
-818.30
-99.79%
MYPS
PLAYSTUDIOS
0.72
-0.35
-32.52%
GMHS
Gamehaus Holdings
0.81
-0.49
-37.69%
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.