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Cirsa Enterprises, S.A.U.
(BME:CIRSA)
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Rating:56Neutral
Price Target:
€18.00
▲(11.39% Upside)
Action:Reiterated
Date:09/06/26
The score is primarily held back by balance-sheet risk (high leverage) and a relatively expensive valuation (high P/E). Offsetting these are strong free-cash-flow generation and a strong technical uptrend, although momentum is currently overextended (very high RSI/Stoch), increasing near-term downside risk.
Positive Factors
Diversified regulated gaming operations
CIRSA’s presence across casinos, gaming machines and related services creates multiple regulated revenue channels and reduces reliance on a single venue format. A licensed, diversified operating footprint can support resilience and recurring gaming win over the next several quarters.
Negative Factors
High leverage and balance-sheet risk
Elevated leverage leaves CIRSA more exposed to weaker trading conditions and higher financing costs, while limiting flexibility for investment or debt reduction. Although equity has improved from prior troughs, the capital structure remains a durable constraint on financial resilience.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified regulated gaming operations
CIRSA’s presence across casinos, gaming machines and related services creates multiple regulated revenue channels and reduces reliance on a single venue format. A licensed, diversified operating footprint can support resilience and recurring gaming win over the next several quarters.
Read all positive factors
Cirsa Enterprises, S.A.U. (CIRSA) vs. iShares MSCI Spain ETF (EWP)
Market Cap
€2.90B
Dividend Yield2.45%
Average Volume (3M)283.56K
Price to Earnings (P/E)32.7
Beta (1Y)0.27
Revenue Growth5.80%
EPS GrowthN/A
CountryES
Employees15,766
SectorConsumer Cyclical
Sector Strength84
IndustryGambling, Resorts & Casinos
Share Statistics
EPS (TTM)0.53
Shares Outstanding167,992,660
10 Day Avg. Volume617,646
30 Day Avg. Volume283,565
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
€19.20Price Target Upside18.81% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)1.7
Revenue Forecast (FY)€2.54B
Cirsa Enterprises, S.A.U. Business Overview & Revenue Model
Company Description
Cirsa Enterprises, S.A. is a diversified gaming and entertainment company that, along with its affiliated entities, manages a wide array of gambling operations across numerous international regions. Its activities encompass operating slot machines...
How the Company Makes Money
CIRSA makes money primarily by operating regulated gambling and gaming venues and devices and retaining a share of players’ wagers after paying out winnings (i.e., gaming win / net gaming revenue). Key revenue streams typically include: (1) Casino...
Cirsa Enterprises, S.A.U. Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
38
Negative
Cash Flow
71
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.32B | 1.65B | 2.15B | 1.99B | 1.70B | 798.09M |
| Gross Profit | 1.28B | 872.48M | 1.20B | 1.08B | 928.04M | 34.17M |
| EBITDA | 767.25M | 796.63M | 685.69M | 631.61M | 545.23M | 320.03M |
| Net Income | 88.42M | 72.94M | 12.63M | 80.03M | 56.57M | -150.87M |
Balance Sheet | ||||||
| Total Assets | 3.96B | 3.86B | 3.74B | 3.57B | 3.34B | 3.26B |
| Cash, Cash Equivalents and Short-Term Investments | 333.30M | 313.07M | 287.18M | 271.89M | 237.63M | 280.20M |
| Total Debt | 2.20B | 2.20B | 2.68B | 2.46B | 2.46B | 2.84B |
| Total Liabilities | 3.09B | 3.05B | 3.54B | 3.14B | 3.05B | 3.14B |
| Stockholders Equity | 760.79M | 711.42M | 75.71M | 322.63M | 108.37M | 25.35M |
Cash Flow | ||||||
| Free Cash Flow | 428.77M | 436.32M | 415.88M | 377.68M | 369.22M | 109.84M |
| Operating Cash Flow | 599.24M | 524.17M | 607.36M | 544.43M | 513.70M | 169.67M |
| Investing Cash Flow | -401.93M | -492.44M | -286.06M | -224.18M | -219.28M | -135.49M |
| Financing Cash Flow | -194.33M | 28.63M | -314.97M | -283.65M | -361.62M | -36.42M |
Cirsa Enterprises, S.A.U. Technical Analysis
Positive
16.16
Price Trends
14.54
Negative
Market Momentum
-0.30
Negative
56.12
Neutral
68.43
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ES:CIRSA, the sentiment is Positive. The current price of 16.16 is above the 20-day moving average (MA) of 13.51, above the 50-day MA of 14.54, and equal to the 200-day MA of ―, indicating a neutral trend. The MACD of -0.30 indicates Negative momentum. The RSI at 56.12 is Neutral, neither overbought nor oversold. The STOCH value of 68.43 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ES:CIRSA.
Cirsa Enterprises, S.A.U. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | €1.16B | 20.36 | 7.09% | 12.28% | 0.54% | -52.48% | |
62 Neutral | €958.85M | 10.83 | 41.48% | 6.42% | -5.43% | -6.51% | |
62 Neutral | €1.53B | 12.46 | 15.99% | 5.58% | 0.60% | 16.68% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
61 Neutral | €2.22B | 25.46 | 8.72% | 1.40% | 4.72% | -49.44% | |
56 Neutral | €2.90B | 32.67 | 12.22% | 2.45% | 5.80% | ― |
* Consumer Cyclical Sector Average
ES:CIRSA
Cirsa Enterprises, S.A.U.
18.34
3.41
22.86%
ES:A3M
Atresmedia Corporacion de Medios de Comunicacion, S.A
5.12
0.03
0.53%
ES:MEL
MELIA HOTELS INTERNATIONAL
10.07
2.19
27.86%
ES:CASH
Prosegur Cash
0.66
-0.01
-1.79%
ES:PSG
Prosegur Compania de Seguridad
2.86
0.33
13.20%
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.