Corporate Webpages Everi Holdings, Inc.
Everi Holdings (formerly Global Cash Access Holdings, Inc.)
(EVRI) had a name change to better reflect its more diversified line of
business. It could be considered in the gambling, casino
industry, or in the finance industry, or in the computer
software business, as it engages in all three. It is based in
Las Vegas, and we prefer to think of it as a gambling industry
stock. But it arranges for financing and cash processing of
customer credits, and produces real casino game products from
classical reel machines to video, tournament, and even on-line games.
It handles credit card transactions and provides integrated
kiosks to shortcut the cashier window on casino floors.
The company furnishes services to government agencies related to
state lotteries. Lately, the company has reported some
quarterly losses, and also had losses in 2015 - 2017, but
appears to be in a turnaround situation with strong growth potential.
The current p/e is around 26.
The stock was particularly hard-hit and damaged during the
recent stock market meltdown as of this writing. Charts appear
to be straight down for many recent days.
One outstanding feature of this stock is a negative number for
total stockholder equity as reported by one unreliable source (Yahoo)!)
A second more reliable source, Morningstar, reports zero stockholder equity.
To understand this, for an unhealthy company, one needs only the
most basic accounting equation: Assets - Liabilities =
Shareholder Equity. For EVRI, liabilities exceed assets. We
think zero is the more meaningful number as shareholders are not
liable for the company's debts. But this is a most unhealthy situation.
The company does have an acceptable Zenith Index propelled by a
consistent trend toward increasing earnings on an annual basis.
Despite our Zenith Index marginally passing the stock,
researchers are overwhelming negative on the stock. However, a notable
exception is Standard & Poor's which likes the stock. This is a
weird stock defying some of the basic investment rules we
normally follow. Analysts like the stock.
The management reporting is loaded with caveats and explanations
for unusual accounting situations. We found it difficult to
read or understand. Basically, the company operates in two
segments, games and financing, with the latter providing most of
the revenue, consistent with the company's forte since founding.
Institutions have been heavy acquirers lately. This is significant
due to the negative shareholder value, because institutions have
larger staffs than we do and have probably researched this
more thoroughly in a way which has encouraged them to take
on the risk in a rather big way.
The recent chart pattern is overwhelming negative, but recent
overall market weakness accounts for poor recent patterns on
most stocks. The suggestion we generally make is to wait for
some upward momentum to rebuild and re-establish itself before jumping
into any stock on the long side.
03-13-2020: Everi Holdings, Inc. (EVRI): Liabilities Exceed Assets
(WAIT FOR PAGE TO LOAD COMPLETELY BEFORE LINKS WORK.)
Company Profile
Company History
News
Comparison with Peers
Bond Issue
Zenith Index
Financial Statements
Avg. P/E to Current P/E
Financial Ratios
Intrinsic Value (Disc. CashFlow)
Fair Value Estimator
Projected Earnings
Research Reports
Analysts' Opinions
Insider Activity
Institutional Activity
Sentiment
Short Interest
Standard & Poor's
Management's Discussion
Channel Potential
MACD Histogram
Intraday Chart
Val Idea
Stock Consultant
Point & Figure Chart
Wall Street Analyzer
Marketspace Chart
Time Series Forecast
Neural Network Prediction
Stock Options
Ultimate Trading Systems
Recommendation
Corporate Wepages
Company Profile |
Company History |
News |
Comparison |
Similar Companies Performance:
Bond Issue |
Zenith Index |
Under current market conditions, a Zenith Index Score of 1.20 or above is required for a positive rating on this factor. 1.21 -1.30 is considered acceptable, 1.30-1.40 is considered strong and
> 1.40 is considered exceptionally strong. Accounting statements in this section often contain mistakes, especially in earlier years' totals, but data is deemed sufficient for us to give a rating. More accurate financial statements follow in the next section.
veri Holdings Inc. (EVRI) Exchange: NYSE
7250 South Tenaya Way
Suite 100 Sector: Consumer Cyclical
Las Vegas, NV 89113 Industry: Gambling
Everi Holdings Inc. provides technology solutions for the casino gaming
industry in the United States, Europe, Canada, the Caribbean, Central
America, and Asia. The company operates in two segments, Games and
FinTech. It offers gaming products, such as classic mechanical reel
games, video reel games, core HDX, Empire MPX and the Texan HDX, wide
area progressive games, and slot tournament systems; and sells player
terminals, licenses, back office systems, and other related equipment.
The company also provides Cash access services; Casino Cash Plus 3-in-1
ATM, a cash-dispensing machine that enables ATM cash withdrawals, POS
debit card cash access transactions, and credit card cash access
transactions; check verification and warranty services; CashClub that
provides gaming establishments with a single dashboard interface to
streamline credit and debit card cash access transaction processing and
check warranty transactions; fully integrated kiosks that provide
multiple functions to the casino floor; and other integrated kiosk
solutions. In addition, it offers Everi Compliance, a suite of
compliance software to assist with anti-money laundering regulations;
Key Statistics:
Trailing P/E: 39.14 Target Price: 15.17
Qrtly Stock Price Growth (yoy): 1.44% Beta: 1.81
Qrtly S&P Index Growth (yoy): 21.50% Short Ratio: 2.09%
Qrtly Revenue Growth (yoy): 52.00% Shares Out: 84460000
Qrtly Earnings Growth (yoy): 0.00%
Book Value: 0.64 Debt/Equity: 2.00%
Price/Book Value: 0.00 Operating Profit Margin: 18.81%
Price/Sales: 2.01 Profit Margin: 3.10%
Market Cap: 695,087,000 Return on Equity: 0.00%
Enterprise Value: 1,990,000,000 Return on Assets: 3.95%
Operating Cash Flow: 294,286
Free Cash Flow: 170,925
Annual Income Statement: (All numbers in thousands)
Period Ending 12/31/2018 12/31/2017 12/31/2016
Total Revenue 469,515 974,948 859,456
Cost of Revenue 94,437 638,545 549,014
Gross Profit 375,078 336,403 310,442
Operating Expenses:
Research & Development 20,497 18,862 19,356
Selling, General & Administrative 142,298 118,935 118,709
Total Operating Expenses 289,265 254,584 282,698
Operating Income or Loss 85,813 81,819 27,744
Income from Continuing Operations:
Total Other Income/Expenses Net -166 -51,750 -146,299
Interest Expense 0 102,136 99,228
Income Before Taxes 2,646 -72,067 -217,783
Income Tax Expense -9,710 -20,164 31,696
Net Income from Continuing Op.s 12,356 -51,903 -249,479
Non-recurring Events:
Extraordinary Items 0 0 0
Net Income 12,356 -51,903 -249,479
Net Income Avail to Common Shares 12,356 -51,903 -249,479
Annual Cash Flow Statement: (All numbers in thousands)
Period Ending 12/31/2018 12/31/2017 12/31/2016
Net Income 12,356 -51,903 -249,479
Operating Activities:
Depreciation 134,891 124,606 153,325
Changes in Accounts Recv'bls -29,320 -884 -8,169
Changes in Liabilities 191,255 -662 50,970
Changes in Inventories -3,848 -5,753 5,600
Changes in other Oper'g Acts 128,266 -36,374 17,893
Total Cash Flow f Operations 294,286 95,828 131,711
Investing Activities:
Capital Exenditures -103,031 -96,490 -80,741
Investments 0 0 -694
Other Cash Flows fr Investing -20,556 -13,499 -11,218
Total Cash Flows from Investing -123,350 -109,979 -88,054
Financing Activities:
Dividends Paid 0 0 0
Sale of Purchase of Stock -123 -123 -123
Other Cash Flows fr Financing -1,276 -28,702 -11,218
Total Cash Flows from Financing 11 22,394 -24,922
Change in Cash & Cash Equiv. 169,577 9,535 17,021
Annual Balance Sheets: (All Numbers in Thousands)
Period Ending 12/31/2018 12/31/2017 12/31/2016
Current Assets:
Cash & Cash Equivalents 128,586 119,051 0
Short Term Investments 0 0 0
Net Receivables 47,782 51,651 0
Inventory 23,967 19,068 0
Other Current Assets 5,241 3,489 0
Total Current Assets 448,408 341,639 0
Long-Term Investments 251,740 202,842 0
Property, Plant & Equipt 113,519 98,439 0
Goodwill 640,589 640,546 0
Intangible Assets 324,311 317,997 0
Other Assets 2,657 3,434 0
Total Assets 1,537,074 1,408,163 0
Current Liabilities:
Accounts Payable 59,435 55,352 0
Current Portion LT Debt 62,507 27,230 0
Other Current Liabilities 317,744 239,123 0
Total Current Liabilities 460,448 343,514 0
Long Term Debt 1,159,643 1,111,880 0
Other Liabilities 0 0 0
Total Liabilities 1,677,707 1,515,956 0
Stockholder Equity:
Common Stock 93 91 0
Retained Earnings -246,202 -194,299 0
Capital Surplus -253 -2,109 0
Total Stockholder Equity -140,633 -107,793 0
Everi Holdings Inc. (EVRI) [Indices near +3.0, near zero,
or < zero bear special attention.]
P/E Ratio Tests:
P/E Ratio < 28? 0.7154 P/E Ratio > 5? 1.0000
P/E Ratio Vs Growth Rate: 0.0000 Forward P/E Ratio < 28? 0.0000
Price/Sales Ratio < 2.3? 1.1437 Inventory/Sales < 5%? 0.9795
Sales < $1 Billion? 2.1299 Operating Margin < 7.5%? 0.3987
Balance Sheet Tests:
Debt/Equity < 0.40? 3.0000 Long-Term Debt Service: -0.1213
LTD Being Reduced? -3.0000 Short-Term Debt Service: 3.0000
Current Ratio > 2? 0.4869 Working Capital >= 1.5? 1.5608
Leverage Ratio < 20%? 0.0773 Debt/Assets < 1? 1.3255
Quick Ratio > 1? 3.0000 Inventory Turnover > 1? 0.0829
Share Equity Increase: 2.0790 Market Cap.< 1.5 Billion? 2.1580
Intangibles < 3% Assets? 0.0478
Income Tests:
Profit Margin < 7.5%? 0.4133 EPS Annual Growth > 10%? -0.4201
Dividend Yield > 2.0%? 0.0000 EPS 3-yr Growth > 15? -3.0000
Enterprise Value/Revenue 1.4826 EPS Growth Consistent? 2.0000
Enterprise Value/EBITDA: 3.0000 Collection < 45 days? 1.2114
EPS Qrtly Growth > 10%? 0.0000 Gross Pft/Cur. LTD > 1? 3.0000
Borrowing Int. Rate < 6%? 3.0000
Stock Performance Tests:
Volatility > 25%? 2.0376 % Held by Insiders < 5%? 3.0000
Beta > 1.25? 1.4480 % Held by Institut. < 50? 0.5383
50 Da MA > 200 Da MA? 0.3977 % Held by Institut. > 30? 3.0000
52-Wk Change vs. S&P 500: 0.0277 Short Ratio > 5? 0.4180
Price/Book Value < 3? 3.0000 Short % of Float > 20? 0.0985
Return on Assets > 17%? 0.2324 Average Volume > 100,000? 3.0000
Cash Flow Tests:
Oper. C.F. > Lever'd C.F: 1.7217 Positive Free Cash Flow? 3.0000
Positive Oper. Cash Flow? 3.0000 Price to C.F.Ratio < 14?: 3.0000
Cash Flow / Assets > 10%? 2.7172
EVRI Everi Holdings Inc. Overall Zenith Index: 1.2530
Financial Statements |
EVERI HOLDINGS INC (EVRI) INCOME STATEMENT Fiscal year ends in December. USD in thousand 2015-12 2016-12 2017-12 2018-12 2019-12 TTM Revenue 826,999 859,456 974,948 469,515 533,227 533,227 Cost of revenue 510,397 549,014 638,545 94,437 112,386 112,386 Gross profit 316,602 310,442 336,403 375,078 420,841 420,841 Operating expenses Research and development 19,098 19,356 18,862 20,497 32,505 32,505 Other operating expenses 232,226 263,342 235,722 268,768 294,319 294,319 Total operating expenses 251,324 282,698 254,584 289,265 326,824 326,824 Operating income 65,278 27,744 81,819 85,813 94,017 94,017 Other income (expense) -188,361 -245,527 -153,886 -83,167 -78,023 -78,023 Income before taxes -123,083 -217,783 -72,067 2,646 15,994 15,994 Provision for income taxes -18,111 31,696 -20,164 -9,710 -523 -523 Net income from continuing operations -104,972 -249,479 -51,903 12,356 16,517 16,517 Net income -104,972 -249,479 -51,903 12,356 16,517 16,517 Net income available to common shareholders -104,972 -249,479 -51,903 12,356 16,517 16,517 Earnings per share Basic -1.59 -3.78 -0.78 0.18 0.23 0.23 Diluted -1.59 -3.78 -0.78 0.17 0.21 0.21 Weighted average shares outstanding Basic 65,854 66,050 66,816 69,464 72,376 72,376 Diluted 65,854 66,050 66,816 73,796 79,235 79,235 ____________________________________________________________________________________________________________________________________________ EVERI HOLDINGS INC (EVRI) BALANCE SHEET Fiscal year ends in December. USD in thousand 2015-12 2016-12 2017-12 2018-12 2019-12 Assets Current assets Cash Total cash 102,030 119,051 128,586 297,532 289,870 Receivables 52,382 51,651 47,782 64,387 87,910 Inventories 28,738 19,068 23,967 24,403 26,574 Prepaid expenses 17,201 14,559 15,429 16,592 19,773 Other current assets 53,432 137,310 232,644 86,026 78,405 Total current assets 253,783 341,639 448,408 488,940 502,532 Non-current assets Property, plant and equipment Gross property, plant and equipment 171,833 202,842 251,740 292,598 331,351 Accumulated Depreciation -65,525 -104,403 -138,221 -176,310 -190,225 Net property, plant and equipment 106,308 98,439 113,519 116,288 141,126 Goodwill 789,803 640,546 640,589 640,537 681,635 Intangible assets 382,462 317,997 324,311 287,397 279,187 Other long-term assets 41,709 9,542 10,247 15,099 24,743 Total non-current assets 1,320,282 1,066,524 1,088,666 1,059,321 1,126,691 Total assets 1,574,065 1,408,163 1,537,074 1,548,261 1,629,223 Liabilities and stockholders' equity Liabilities Current liabilities Short-term debt 10,000 10,000 8,200 8,200 0 Capital leases 0 0 0 0 5,824 Accounts payable 67,139 55,352 59,435 70,796 93,529 Taxes payable 1,654 2,587 2,112 1,917 1,846 Accrued liabilities 21,883 27,230 62,507 43,638 42,754 Deferred revenues 10,836 9,222 10,450 12,887 29,150 Other current liabilities 139,819 239,123 317,744 334,198 234,087 Total current liabilities 251,331 343,514 460,448 471,636 407,190 Non-current liabilities Long-term debt 1,153,579 1,111,880 1,159,643 1,155,016 1,108,078 Deferred taxes liabilities 27,644 57,611 38,207 27,867 26,401 Accrued liabilities 4,091 2,951 19,409 2,637 33,566 Total non-current liabilities 1,185,314 1,172,442 1,217,259 1,185,520 1,168,045 Total liabilities 1,436,645 1,515,956 1,677,707 1,657,156 1,575,235 Stockholders' equity Common stock 91 91 93 95 109 Additional paid-in capital 258,020 264,755 282,070 298,929 445,162 Retained earnings 55,180 -194,299 -246,202 -229,457 -212,940 Treasury stock -176,189 -176,231 -176,341 -176,464 -177,524 Accumulated other comprehensive income 318 -2,109 -253 -1,998 -819 Total stockholders' equity 137,420 -107,793 -140,633 -108,895 53,988 Total liabilities and stockholders' equity 1,574,065 1,408,163 1,537,074 1,548,261 1,629,223 ____________________________________________________________________________________________________________________________________________ EVERI HOLDINGS INC (EVRI) Statement of CASH FLOW Fiscal year ends in December. USD in thousand 2015-12 2016-12 2017-12 2018-12 2019-12 TTM Cash Flows From Operating Activities Net income -104,972 -249,479 -51,903 12,356 16,517 16,517 Depreciation & amortization 138,638 153,325 124,606 134,891 140,845 140,845 Investment/asset impairment charges 75,008 150,588 0 2,575 1,268 1,268 Deferred income taxes -19,878 29,940 -20,015 -10,343 -1,593 -1,593 Stock based compensation 8,284 6,735 6,411 7,251 9,857 9,857 Change in working capital -1,105 17,893 -36,374 128,266 -108,532 -108,532 Accounts receivable -5,070 -8,169 -884 -29,320 -41,754 -41,754 Inventory -1,075 5,600 -5,753 -3,848 -3,067 -3,067 Prepaid expenses -5,553 4,480 -1,536 1,672 -18,724 -18,724 Other working capital 10,593 15,982 -28,201 159,762 -44,987 -44,987 Other non-cash items 28,612 22,709 73,103 19,290 26,528 26,528 Net cash provided by operating activities 124,587 131,711 95,828 294,286 84,890 84,890 Cash Flows From Investing Activities Investments in property, plant, and equipmen -79,801 -80,741 -96,490 -103,031 -114,291 -114,291 Property, plant, and equipment reductions 2,102 4,599 10 237 56 56 Acquisitions, net -10,857 -694 0 0 -35,000 -35,000 Purchases of intangibles -2,813 0 0 0 0 0 Sales of intangibles 3,104 0 0 0 0 0 Other investing activities 2,716 -11,218 -13,499 -20,556 -17,102 -17,102 Net cash used for investing activities -85,549 -88,054 -109,979 -123,350 -166,337 -166,337 Cash Flows From Financing Activities Debt issued 335,000 0 1,195,000 0 0 0 Debt repayment -360,000 -24,400 -1,154,700 -8,200 -58,700 -58,700 Common stock issued 0 0 0 0 122,376 122,376 Common stock repurchased -169 -42 -110 -123 -1,060 -1,060 Other financing activities 618 -480 -17,796 8,334 14,997 14,997 Net cash provided by (used for) financing -24,551 -24,922 22,394 11 77,613 77,613 Effect of exchange rate changes -1,552 -1,714 1,292 -1,370 1,263 1,263 Net change in cash 12,935 17,021 9,535 169,577 -2,571 -2,571 Cash at beginning of period 89,095 102,030 119,051 129,604 299,181 299,181 Cash at end of period 102,030 119,051 128,586 299,181 296,610 296,610 Free Cash Flow Operating cash flow 124,587 131,711 95,828 294,286 84,890 84,890 Capital expenditure -79,801 -80,741 -96,490 -103,031 -114,291 -114,291 Free cash flow 44,786 50,970 -662 191,255 -29,401 -29,401 ____________________________________________________________________________________________________________________________________________
Average to Current P/E Ratios |
(EVRI) Everi Holdings Inc.
2015 2016 2017 2018 2019
Annual Earnings: -1.59 -3.78 -0.78 0.17 0.21
Average Price During Year: 6.58 2.36 6.05 7.61 9.56
P/E Ratio: 4.14 0.62 7.76 44.76 45.54
Average 5-Year P/E Ratio = 20.57
Current Price = 8.22
Previous 5 Quarter Earnings: 0.06 0.08 0.07 0.12 -0.06
Current Annualized (Last Four Quarters) Earnings = 0.13
________
Average PE / Current PE = 0.33
--------
...a number above 1.00 is good
1.00 or below is bad
Financial Ratios |
. . . . . . . . . . . . Lowest to Highest, Compared to Industry
Intrinsic Value (DCF) |
Intrinsic Value by Discounted Cash Flow Method:
Fair Value Estimator |
Fair Value Estimate:
Projected Earnings |
Research Reports |
Analysts' Opinions |
Insider Activity |
Institutional Activity |
Institutional Ownership:
Sentiment |
Zenith uses the "sentiment" score above or below 50 to award a positive or negative point in the Decision Matrix.
Short Interest Ratio |
As the short interest rises as a percentage of average daily share volume (Days to Cover), this is considered a measure of negative sentiment. Similarly, a decrease in that percentage is considered positive sentiment.
Standard & Poor's |
Management's Discussion of Results of Operations Excerpts |
Channeling Potential |
The summary below includes a value for `Degree,' which refers on a
scale of 1 to 10 the range of a channel in the period under consi-
deration compared to the total range of price movement. It also looks
for the last closing price to be within the channel, otherwise zeroed.
The `Index' is the `Degree' weighted for volatility. Generally, the
the higher the index, the more suitable is the stock for trading as
a `rolling stock' between channel high and low points.
Results for EVERI HOLDINGS INC.:
Symbol? EVRI
Total Months Available: 25
Months in Cycle? 4
Months Covered by Periods: 12
Period 1 Period 2 Period 3
H1 L1 H2 L2 H3 L3
12.29 7.49 12.56 7.92 14.88 8.81
RANGE = 14.88 TO 7.49 Close = 7.77
CHANNEL = 12.29 TO 8.81 Degree = 5
Volatility = 44.79% Index = 22
MACD Histogram Divergence |
The theory is that connecting the two most recent peaks or valleys of the MACD histogram will signal the direction of the next major move.
Intraday Chart |
2 Days:
Val Idea |
0 out of 7 favorable, (negative opinion.)
Stock Consultant |
Point & Figure Chart |
Wall Street Analyzer |
Marketspace Chart |
Time Series Forecast |
Neural Network Prediction |
"Neurostock" can only track long trades. Therefore its performance, as tracked by itself on stocks which are consistently falling, may not appear as good as it could if each "sell" signal were a "short sale."
Ultimate Trading Systems |
3 out of 3 of the ultimate systems favor a downmove.
System Below:
Short term outlook: Positive: Bright Green, Negative: Bright Red
Long term outlook: Postive: Dark Green, Negative: Dark Red.
Recommendation |
| Factors | Weighted Points |
|---|---|
| News | - 1 |
| Comparison | - 1 |
| Industry | - 1 |
| Bond Issue | + 1 |
| Zenith Index | + 1 |
| Non-GAAP vs. GAAP Earnings | - 1 |
| Cash Flow | - 1 |
| Average to Current P/E | + 1 |
| Ratios | - 1 |
| Intrinsic Value DCF | 0 |
| Fair Value Estimator | - 1 |
| Projected Earnings | + 1 |
| Research Reports | - 1 |
| Analysts | + 1 |
| Executive Perquisites | + 1 |
| Insider Activity | - 1 |
| Institutional Activity | + 1 |
| Management Reporting | + 1 |
| Short Interest | - 1 |
| Sentiment | - 1 |
| Standard & Poor's | + 1 |
| MACD Histogram Divergence | - 1 |
| Val Idea | - 1 |
| Stock Consultant | + 1 |
| Point & Figure | - 1 |
| Wall Street Analyzer | - 1 |
| Marketspace Chart | - 1 |
| Time Series Chart | + 1 |
| Neural Network | - 1 |
| Stock Options | + 1 |
| Ultimate Trading Systems | - 1 |
| Total | - 6 |
Place 4,180 shares of Everi Holdings, Inc. (EVRI) on the Active List.
