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Spanish gaming company operating casinos, gaming halls, sports betting and online gambling across Spain and Latin America.
Spanish gaming company operating casinos, gaming halls, sports betting and online gambling across Spain and Latin America.
Earns on what players lose across its machines, tables, bingo and betting; in Spain, much of the income comes from slot machines in its own halls and in bars and restaurants where it places them. Blackstone, the US private-equity group, is the largest shareholder.
In one line: A smaller, Iberian/Latam Caesars Entertainment.
Moat: narrow (regulatory licence, scale, brand). Gaming licences and scale across Spain/Latam are hard to replicate, though online entrants compete for share.
Headquarters: Terrassa, Spain · Founded: 1978
Size Cirsa Enterprises, S.A.U (CIRSA.MC) is a Spain Industrials company (Industrial Conglomerates) with a market value of $3.69B, the 33rd largest of 97 Spain companies the cockpit tracks. Shares closed at €19.56 on 6 Nov 2026.
Performance Over six months the shares gained 54.0%, against +3.2% for the median peer and +8.2% for the Spain market (cap-weighted) — 2nd highest of 8 in its peer set.
Growth Revenue grew 5.8% over the last twelve months (peer median +5.2%); the operating margin is 23.1% (peer median 10.7%).
Valuation It trades at 11.8× forward earnings against a peer median of 10.2× (4th most expensive of 8).
Price implies For today's price to make sense, revenue must grow about -8% a year for seven years (Req g). Recent delivered growth is +25%, so the hurdle is -33 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 5.4 points above its cost of capital (5.1% WACC).
Next results Next results expected around 4 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €1.72B | €1.65B | €1.53B | €1.39B | €1.20B |
| Revenue growth | — | +8% | +10% | +16% | — |
| Gross profit | €399M | €872M | €777M | €700M | €576M |
| EBITDA | €777M | €796M | €722M | €649M | €562M |
| Net income | €114M | €72.9M | €12.6M | €80.0M | €56.6M |
| Free cash flow | €436M | €436M | €317M | €340M | €320M |
| Capital expenditure | €241M | €215M | €191M | €167M | €144M |
| Total debt | €2.20B | €2.20B | €2.68B | €2.46B | €2.46B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Cirsa Enterprises, S.A.U CIRSA.MC | $3.69B | +54% | +6% | 23% | 11.8× | -7.5% |
| Entain ENT.L | $4.05B | -11% | 0% | 11% | 8.9× | 3.2% |
| Flutter Entertainment FLUT | $14.2B | -19% | +12% | 2% | 14.3× | 26.3% |
| Betsson BETS-B.ST | $1.34B | +10% | 0% | 14% | 10.4× | -18.0% |
| FDJ United FDJU.PA | $4.49B | -5% | +3% | 15% | 10.6× | -2.8% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | CIRSA.MC | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +10.5% | -7.3% | highest of 8 |
| 6-month return | +54.0% | +3.2% | 2nd highest of 8 |
| Distance from 52-week high | -2.2% | -23.4% | highest of 8 |
| Revenue growth (TTM) | +5.8% | +5.2% | 4th highest of 8 |
| Operating margin | 23.1% | 10.7% | 2nd highest of 8 |
| Forward P/E | 11.8× | 10.2× | 4th most expensive of 8 |
| Growth the price implies (Req g, 7 yrs) | -7.5% | -10.3% | 4th most demanding of 8 |
| Growth delivered (Del g) | +25.2% | +10.7% | 3rd highest of 8 |
| Hurdle (Req g minus delivered) | -32.7 pp | -17.0 pp | 3rd least demanding of 8 |
| ROIC minus cost of capital | +5.4 pp | +7.9 pp | 3rd lowest of 8 |
| EV / EBITDA | 6.8× | 6.7× | 4th cheapest of 7 |
| Net debt / EBITDA | 2.4× | -0.8× | most indebted of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Cirsa Enterprises, S.A.U CIRSA.MC | Spain | $3.69B | +54% | +6% | 23% | 11.8× | -7.5% | +25.2% |
| 3M India 3MINDIA.NS | India | $3.29B | -16% | +16% | 17% | 39.8× | 28.0% | +14.3% |
| Societe BIC BB.PA | France | $2.92B | +11% | -4% | 15% | 13.4× | -11.9% | +5.1% |
| Sankyo 6417.T | Japan | $2.68B | +16% | -23% | 31% | 10.2× | -18.7% | +25.3% |
| ADEKA 4401.T | Japan | $2.53B | +3% | +5% | 11% | 11.8× | 3.6% | +5.0% |
| Posco International 047050.KS | South Korea | $6.03B | -45% | +7% | 4% | 8.1× | -16.6% | +8.6% |
| DCM Shriram DCMSHRIRAM.NS | India | $1.47B | -29% | +14% | 7% | 9.2× | 16.6% | +10.7% |
| Tsuburaya Fields 2767.T | Japan | $963M | +72% | -5% | 10% | 10.1× | -10.3% | +35.0% |