CANTERBURY PARK HOLDING Reports Second Quarter FY2023 Earnings Results
August 21, 2023
🌥️Earnings Overview
On August 11 2023, CANTERBURY PARK HOLDING ($NASDAQ:CPHC) reported their earnings results for the second quarter of FY2023, ending June 30 2023. Total revenue was USD 16.3 million, representing an 8.0% decrease from the same quarter in the previous year. Net income, however, increased by 191.7% from the same period in the prior year, amounting to USD 5.3 million.
Stock Price
At the start of trading on Friday, CANTERBURY PARK HOLDING stock opened at $22.8 and closed the day at $22.1, representing a decrease of 2.7% from its previous closing price of 22.7. Despite this decrease, the earnings report showed a positive overall result for the quarter, with steady revenue growth and a strong balance sheet. This bodes well for the future of the Company as it continues to strive for success and growth in the months to come. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for CPHC. More…
| Total Revenues | Net Income | Net Margin |
| 65.05 | 12.05 | 11.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for CPHC. More…
| Operations | Investing | Financing |
| 11.73 | -4.67 | -1.39 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for CPHC. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 102.17 | 22.99 | 16.05 |
Key Ratios Snapshot
Some of the financial key ratios for CPHC are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 13.1% | 199.3% | 13.1% |
| FCF Margin | ROE | ROA |
| 5.9% | 7.0% | 5.2% |
Analysis
We conducted an analysis of CANTERBURY PARK HOLDING’s wellbeing, and based on our Star Chart, the company was found to be strong in asset, dividend and medium in growth and profitability. We also found that CANTERBURY PARK HOLDING has a high health score of 10/10, indicating that it is capable of paying off its debt and funding future operations. Based on our analysis, we have classified CANTERBURY PARK HOLDING as a ‘rhino’, which is a type of company we conclude has achieved moderate revenue or earnings growth. Therefore, investors that are interested in investing in such a company would want to look at the long-term potential of the business and consider the potential risks as well as the potential rewards. More…
Peers
The company’s main competitors are Evergreen Gaming Corp, Donaco International Ltd, and GAN Ltd.
– Evergreen Gaming Corp ($TSXV:TNA)
Evergreen Gaming Corporation is a Canadian gaming company that owns and operates casinos and bingo halls in Alberta and British Columbia. The company has a market cap of $89.14M as of 2022 and a return on equity of 31.61%. Evergreen Gaming Corporation is a publicly traded company on the Toronto Stock Exchange (TSX: EGC).
– Donaco International Ltd ($ASX:DNA)
Donaco International Ltd is a gaming company that operates in the casino industry in Asia. The company has a market capitalization of $70.38 million and a return on equity of -6.05%. The company’s main businesses are its casinos in Vietnam and Cambodia, and it also has a hotel in Laos.
– GAN Ltd ($NASDAQ:GAN)
The company has a market cap of 70.27M as of 2022, a Return on Equity of -20.95%. The company is involved in the development, manufacture and sale of electric vehicles.
Summary
CANTERBURY PARK HOLDING reported its earnings results for the second quarter of FY2023. Total revenue was USD 16.3 million, a decrease of 8.0% from the same quarter in the prior year. Net income was USD 5.3 million, an increase of 191.7% from the same period in the prior year. Overall, the second quarter reported a solid performance despite the decline in revenue.
Investors should consider this strong performance and the potential for growth in future quarters when assessing CANTERBURY PARK HOLDING as a potential investment. Factors such as competitive landscape, management performance, financials, and risk appetite should also be taken into consideration when evaluating investment opportunities in the company.
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