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Accel Entertainment (ACEL) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Nov 3, 2026 · Accel Entertainment (ACEL) Q3 2026 earnings results →

Q3 2026 Revenue up 10% year over year to $364M · 6¢ of every $1 of revenue kept as net profit · operating margin 7.9%

Accel Entertainment made $364M in Q3 2026 (+10% Y/Y): Net gaming $343M, ATM fees and other $14.2M, Amusement $5.0M. Operating margin 7.9%, net earnings $20.6M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 3, 2026.

Revenue$364M
Year over year+10%
Operating margin7.9%
Net earnings$20.6M
Operating cash flow$79.4M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $363.6M in Q3 2026, up 10% year over year and down 1% from the previous quarter. Net gaming was the largest line at 94% of revenue. Net gaming added $34.9M year over year (up 11%), 103% of the total change. ATM fees and other declined 2%.

Operating profit was $28.8M, a 7.9% margin (up 0.2 points year over year). Of the extra revenue versus Q3 2025, 10% reached operating profit, above the 8% margin then. Total costs grew 10% against revenue growth of 10%. The fastest-growing cost line was Other operating costs (+10%). Net earnings were $20.6M, up 54% year over year. The effective tax rate was 20.2%.

Operating cash flow was $79.4M (up 44% year over year), 386% of net earnings. Non-cash charges added back $14.1M of depreciation and amortization and $3.8M of share-based compensation. Working capital and other items added $40.9M. After purchases of property and equipment, net ($17.4M), free cash flow as the company reports it was $62.0M.

Quarterly history

Accel Entertainment revenue by quarterAccel Entertainment revenue by quarter$324MQ1 2025$336MQ2 2025$330MQ3 2025$341MQ4 2025$352MQ1 2026$368MQ2 2026$364MQ3 2026
Accel Entertainment net earnings by quarterAccel Entertainment net earnings by quarter$14.6MQ1 2025$7.3MQ2 2025$13.3MQ3 2025$16.1MQ4 2025$14.7MQ1 2026$12.5MQ2 2026$20.6MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QNov 3, 2026$364M+10%7.9%$20.6M$79.4M
Q2 202610-QAug 4, 2026$368M+10%8.7%$12.5M$20.0M
Q1 202610-QMay 5, 2026$352M+8%7.7%$14.7M$42.7M
Q4 202510-KMar 3, 2026$341M+8%8.7%$16.1M$31.1M
Q3 202510-QNov 4, 2025$330M+9%7.7%$13.3M$55.2M
Q2 202510-QAug 5, 2025$336M+9%8.0%$7.3M$19.8M
Q1 202510-QMay 5, 2025$324M+7%8.0%$14.6M$44.8M

Charts

Accel Entertainment: revenue growth, year over year and quarter over quarterAccel Entertainment: revenue growth, year over year and quarter over quarterY/YQ/Q+7%Q1 2025+9%+4%Q2 2025+9%-2%Q3 2025+8%+4%Q4 2025+8%+3%Q1 2026+10%+5%Q2 2026+10%-1%Q3 2026
Latest (Q3 2026): Y/Y +10%, Q/Q -1%.
Accel Entertainment: where the cash came from (+) and went (−), TTM to Q3 2026Accel Entertainment: where the cash came from (+) and went (−), TTM to Q3 2026Operating cash flow$173MCapital spending−$67.8MBuybacks−$41.1MNet borrowing (+) / repaid (−)−$30.3MAcquisitions−$24.8MTaxes on employees’ shares−$5.3MCash drawn (+) / kept (−)−$4.1MAsset & business sales$2.5MOther financing−$2.4M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Accel Entertainment: profit against cash, quarter by quarterAccel Entertainment: profit against cash, quarter by quarterNet incomeOperating cash flow$8.4M$13.5MQ4 2024$14.6M$44.8MQ1 2025$7.3M$19.8MQ2 2025$13.3M$55.2MQ3 2025$16.1M$31.1MQ4 2025$14.7M$42.7MQ1 2026$12.5M$20.0MQ2 2026$20.6M$79.4MQ3 2026
Latest (Q3 2026): Net income $20.6M, Operating cash flow $79.4M.
Accel Entertainment: diluted shares by fiscal yearAccel Entertainment: diluted shares by fiscal year83MFY202095MFY202191MFY202287MFY202385MFY202486MFY2025
+3.9% since FY2020: more shares outstanding (issuance, stock pay).
Accel Entertainment: long-term debt falling due (FY2025)Accel Entertainment: long-term debt falling due (FY2025)$37.6M2026$30.0M2027$30.0M2028$30.0M2029$484M2030
Cash $297M, short-term investments —, long-term debt $607M at 2025-12-31.
Accel Entertainment in its industry: growth against margin (19 companies, SIC 7900)Accel Entertainment in its industry: growth against margin (19 companies, SIC 7900)revenue growth, year over year →↑ operating marginmedian +7%median -9%LYVWMGTKOFUNBATRALUCKSPHRLLYVARSVRGAMEGLXZVENUROLRAIFANOMASCRHFLZHBOTYACEL (+10%, 8%)
Services-Amusement & Recreation Services; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Accel Entertainment

We are a leading distributed gaming operator in the United States (“U.S.”), as well as a developer of brick-and-mortar casinos that serve local gaming markets and horse racing venues. We are a preferred partner for local business owners in the markets we serve. We offer turnkey, full-service gaming solutions to bars, restaurants, convenience stores, truck stops, and fraternal and veteran establishments across the country as well as casinos and horse racing venues. Our focus is providing unmatched customer support, guidance, and expertise so our location partners can grow their businesses with an additional revenue stream.

In its own words, from its 10-K, filed Mar 3, 2026.

Accel Entertainment against its Services-Amusement & Recreation Services peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +10% against the peers' median +10%. Operating margin: 7.9% against the peers' median 7.9%.

CompanyQuarterRevenueY/YOp. margin
ACEL Accel EntertainmentQ3 2026$364M+10%7.9%
LYV Live Nation EntertainmentQ3 2026$10.1B+19%8.8%
WMG Warner Music GroupQ3 FY26$1.9B+10%16.4%
TKO TKO Group HoldingsQ3 2026$1.4B+22%27.8%
FUN Six Flags EntertainmentQ3 2026$1.2B-11%-25.6%
BATRA Atlanta Braves HoldingsQ3 2026$325M+4%2.7%
LUCK Lucky Strike EntertainmentQ1 FY27$303M+4%9.3%
SPHR Sphere EntertainmentQ3 2026$274M+4%-87.7%
LLYVA Liberty Live HoldingsQ3 2026$106M+72%-11.0%

Source: Accel Entertainment 10-Q on SEC EDGAR · CIK 1698991 · Services-Amusement & Recreation Services

Guidance and outlook

Accel Entertainment: what its forward-looking statements are about (10-Q filed 2026-11-03)Accel Entertainment: what its forward-looking statements are about (10-Q filed 2026-11-03)The economy2Demand1Other1Legal & regulation1Margins1Capital spending1
7 statements; tone -0.14 (−1 all cautious, +1 all confident); 2 hedged.
Accel Entertainment: outlook statements against the filing beforeAccel Entertainment: outlook statements against the filing beforeConfident1Cautious2

13F: who owns ACEL and who is buying

Largest holders of ACEL (13F)Largest holders of ACEL (13F)Darlington Partners Capital Manag…$102MGreenvale Capital LLP$71.0MBlackRock$62.1MVanguard Group$43.4MHill Path Capital LP$35.2MVanguard Capital Management LLC$31.7MAmerican Century Companies$22.0MGeode Capital Management, LLC$17.2MState Street$17.0MArrowstreet Capital, Limited Part…$13.5M
Funds' net buying of ACEL by quarter (13F)Funds' net buying of ACEL by quarter (13F)−$63.6M2024-09$1.9M2024-12$10.6M2025-03$5.9M2025-06−$1.8M2025-09−$1.5M2025-12$3.5M2026-03$2.6M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on ACEL

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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