Cirsa Enterprises, S.A.U. (CIRSA) AI Stock Analysis

Cirsa Enterprises, S.A.U.

(BME:CIRSA)

Select Model

Rating:56Neutral

Price Target:EUR 19.50▲(6.56% 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

Strong free cash flow generationConsistently positive and recently growing free cash flow supports the funding of operations, investment, and debt service without relying entirely on external capital. This cash-generation capability provides financial resilience and can help sustain the business through normal operating fluctuations.

Negative Factors

High leverage and balance-sheet riskElevated leverage increases the company’s sensitivity to weaker trading conditions and higher financing costs, because more operating cash flow must support debt obligations. Although equity has improved from prior troughs, the capital structure remains a material constraint on flexibility and risk tolerance.

Cirsa Enterprises, S.A.U. (CIRSA) vs. iShares MSCI Spain ETF (EWP)

Market Cap: EUR 3.07B
Dividend Yield: 2.46%
Average Volume (3M): 234.14K
Price to Earnings (P/E): 34.6
Beta (1Y): 0.18
Revenue Growth: 5.80%
EPS Growth: ―
Country: Spain
Employees: 15,766
Sector: Consumer Cyclical
Sector Strength: 61
Industry: Gambling, Resorts & Casinos

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, c...

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 ga...

Cirsa Enterprises, S.A.U. Financial Statement Overview

Summary

Overall fundamentals are mixed: strong and consistently positive free cash flow (Cash Flow Score 71) and healthy EBITDA-level profitability support the business, but the balance sheet is a major constraint (Balance Sheet Score 38) due to high leverage. Net profitability is also relatively thin in the TTM period versus prior years, and historical profitability volatility tempers confidence.

Income Statement

63Positive

Balance Sheet

38Negative

Cash Flow

71Positive

Financial statement breakdown
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	761.24M	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

Technical Analysis SentimentPositive

Last Price18.30

Price Trends

50DMA17.70Positive

100DMA15.47Positive

200DMA14.38Positive

Market Momentum

MACD0.09Negative

RSI58.51Neutral

STOCH76.45Neutral

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 18.30 is above the 20-day moving average (MA) of 17.82, above the 50-day MA of 17.70, and above the 200-day MA of 14.38, indicating a bullish trend. The MACD of 0.09 indicates Negative momentum. The RSI at 58.51 is Neutral, neither overbought nor oversold. The STOCH value of 76.45 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

Overall Rating

UnderperformOutperform

Sector (61)

Financial Indicators

ES:CIRSA against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ES:A3M	72Outperform	EUR 1.29B	22.62	7.09%	11.01%	0.54%	-52.48%
ES:CASH	62Neutral	EUR 947.37M	10.70	41.48%	6.42%	-5.43%	-6.51%
ES:PSG	62Neutral	EUR 1.58B	12.92	15.99%	5.37%	0.60%	16.68%
Sector *	61Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
ES:MEL	61Neutral	EUR 2.25B	25.89	8.72%	1.70%	4.72%	-49.44%
ES:CIRSA	56Neutral	EUR 3.07B	34.60	12.22%	2.46%	5.80%	―

* Consumer Cyclical Sector Average

Performance Comparison

ES:CIRSA and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
ES:CIRSA	Cirsa Enterprises, S.A.U.	18.30	5.00	37.55%
ES:A3M	Atresmedia Corporacion de Medios de Comunicacion, S.A	5.71	0.79	15.96%
ES:MEL	MELIA HOTELS INTERNATIONAL	10.24	3.19	45.33%
ES:CASH	Prosegur Cash	0.66	0.01	2.01%
ES:PSG	Prosegur Compania de Seguridad	2.96	0.40	15.82%

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.

Date of analysis: Sep 06, 2026

Cirsa Enterprises, S.A.U. AI Stock Analysis