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ZYBERNO

Stock Report

Updated Sep 1, 2026

CENTURY CASINOS, INC. (CNTY)

NASDAQ

$1.26

Professional Investment Analysis

ZYBERNO SCORE →

Is it a great business? Is it getting better?

20.0/100

POOR BUSINESS

CENTURY CASINOS, INC. (CNTY) scores 20/100 — concerning metrics indicating significant structural or financial risks.

📊 How is the Zyberno Score calculated? +

The Zyberno Score answers one question: "Is this a quality business worth owning?" It's a 0-100 investment grade that evaluates business fundamentals across four critical dimensions, based on principles from Warren Buffett, Benjamin Graham, Peter Lynch, and Charlie Munger.

The 4 Core Categories (25 points each):

1. PROFITABILITY (25 pts)

Metrics: ROE, ROIC, Net Margin, Operating Margin
Thresholds: ROE >20% excellent • ROIC >20% excellent • Net Margin >20% excellent • Operating Margin >25% excellent

2. FINANCIAL STRENGTH (25 pts)

Metrics: Debt-to-Equity, Current Ratio, Interest Coverage, Altman Z-Score
Thresholds: D/E <0.3 excellent • Current Ratio >2.5 excellent • Interest Coverage >10x excellent • Altman Z >3.0 safe

3. CASH FLOW QUALITY (25 pts)

Metrics: Free Cash Flow, OCF vs Net Income, FCF Margin
Thresholds: Positive & growing FCF excellent • OCF/NI >1.2x excellent (cash earnings exceed accounting)

4. GROWTH & CONSISTENCY (25 pts)

Metrics: Revenue Growth, Net Income Growth, FCF Growth, Piotroski F-Score
Thresholds: Growth via log-linear regression • Piotroski 8-9 excellent, 6-7 good

Score Interpretation:

75-100

GREAT BUSINESS

65-74

GOOD BUSINESS

50-64

AVERAGE BUSINESS

30-49

WEAK BUSINESS

0-29

POOR BUSINESS

→ View full CNTY quality analysis & detailed breakdown

VALUATION SIGNAL

MARGIN OF SAFETY

Is this stock cheap or expensive relative to what the business has historically generated for owners?

Margin of Safety unavailable — insufficient data for the owner-earnings DCF.

BRINA GAP ↗

Is the market underestimating or overestimating what this business is capable of going forward?

-5.6%

Slight Overestimate

💰 How is Margin of Safety calculated? +

Margin of Safety measures how much discount or premium you're paying relative to a stock's intrinsic value. It's Benjamin Graham's core principle: the larger the margin, the lower your downside risk.

Formula: (Intrinsic Value − Current Price) ÷ Intrinsic Value × 100%

How We Calculate Intrinsic Value (DCF Method):

Step 1: Calculate current Owner Earnings (OCF − Maintenance CapEx)

Step 2: Calculate company-specific growth rate using log-linear regression on 16 quarters of Owner Earnings

Step 3: Project 10 years forward using the calculated growth rate

Step 4: Discount each year's cash flow to present value using 10% discount rate

Step 5: Calculate terminal value using 3% perpetual growth rate

Step 6: Sum all discounted cash flows = Intrinsic Value

What The Percentages Mean:

+50% or more

EXCELLENT — Very undervalued

+25% to +50%

GOOD — Attractive discount

0% to +25%

FAIR — Reasonable value

0% to -25%

CAUTION — Slight premium

-25% or worse

POOR — Overvalued

"Price is what you pay, value is what you get." — Warren Buffett

→ View full CNTY valuation analysis · → View full CNTY Brina Gap analysis

📈 How is Brina Gap calculated? +

Brina Gap measures the difference between the growth a business can fundamentally sustain and the growth the market is already pricing in.

Formula: Fundamental Growth Rate − Market-Implied Growth Rate

The Two Components:

Fundamental Growth Rate = ROIC × Reinvestment Rate

What the business can sustainably grow at based on how much it reinvests and what return it earns on that capital. Grounded in historical financials.

Market-Implied Growth Rate = Reverse DCF

The growth rate the current Enterprise Value implicitly assumes. Calculated by back-solving a 10-year DCF model (10% WACC, 3% terminal growth) until the present value of projected cash flows equals EV.

What The Gap Means:

Gap > +5% Market Underestimates — potential upside

+2% to +5% Slight Underestimate

-2% to +2% Fairly Priced — market consensus matches fundamentals

-5% to -2% Slight Overestimate

Gap < -5% Market Overestimates — price embeds optimism fundamentals don't support

A positive gap (market underestimates) combined with a positive Margin of Safety is the strongest combined signal — the business is both cheap historically and forward economics are stronger than the price suggests.

Critical Financial Health Indicators

Return on Equity (Profitability):CRITICAL (0.0%)

Debt-to-Equity (Solvency Risk):EXCELLENT (0.00x)

Operating Margin (Operational Efficiency):AVERAGE (9.7%)

Return on Capital (Capital Efficiency):GOOD (18.2%)

📊 Valuation Trilogy

Three interconnected metrics for complete valuation analysis

Click any metric for full methodology and detailed analysis

Zyberno's Verdict

CENTURY CASINOS, INC. (CNTY) stock report — Zyberno Score 20/100 (POOR BUSINESS). Full financial analysis on Zyberno.

According to Zyberno's DCF model, CENTURY CASINOS, INC. (CNTY) shows a Brina Gap of -5.6%, which weakens the case: based on the company's ROIC (18.2%) and reinvestment rate (-68.4%), the business can fundamentally grow at -12.4% — but the current enterprise value implies the market expects -6.8%.

Over the trailing twelve months, CNTY generated -$7.89M in Owner Earnings. Capital was deployed as follows: $411.00K returned via share buybacks, $17.95M invested in capital expenditures. Reinvestment rate: -68.4%.

DIVISION I: EXECUTIVE SUMMARY

A. Market Valuation

Market Price & Capitalization (2)

Current Price:1.26

Market Cap:$35.53M

Valuation Multiples (2)

P/S Ratio:0.06x

Peg Ratio:-999.00x

Enterprise Metrics (2)

Enterprise Value:$304.42M

Ev Ebitda Ratio:2.81x

Price Action & Momentum (3)

12-1 Momentum:

-52.3% (12th pctile)

📈 Click to view full CNTY Momentum analysis →

Momentum Percentile:12 / 100

% of 52-Week High:45.0%

B. Profitability Assessment

Return Metrics (6)

ROA:-4.9%

Roic:

18.2%

📊 Click to view full CNTY ROIC analysis →

Reinvestment Rate:-68.4%

Fundamental Growth Rate (g):-12.4%

Market-Implied Growth Rate:-6.8%

Brina Gap:

-5.6%

☷ Click to view full CNTY Brina Gap analysis →

Margin Analysis (3)

Operating Margin Ttm:9.7%

Net Margin Ttm:-9.6%

Ebitda Margin:18.6%

TTM Performance (2)

Operating Margin Ttm:9.7%

Net Margin Ttm:-9.6%

Yield Metrics (2)

Earnings Yield:-$150.39

Dividend Yield:0.0%

C. Log-Linear Regression Growth Trends

Earnings Surprise (SUE) (3)

Earnings Surprise (SUE):

+0.18

📊 Click to view full CNTY Earnings Surprise analysis →

EPS Surprise vs Expected:31.2%

Latest Earnings Filed:2026-08-07

Revenue Growth (Linear) (1)

Revenue Growth Rate (Linear):6.7%

Cash Flow Growth (Linear) (1)

Operating Cash Flow Growth Rate (Linear):-43.3%

Operating Growth (Linear) (1)

Operating Income Growth Rate (Linear):-6.5%

D. Financial Stability

Liquidity Ratios (3)

Current Ratio:1.19x

Quick Ratio:1.15x

Cash Ratio:0.78x

Leverage Analysis (1)

Debt To Ebitda:3.04x

Coverage Ratios (2)

Interest Coverage Ratio:0.49x

Times Interest Earned:0.49

Capital Structure (4)

Working Capital:15,014,000.00

Cash And Cash Equivalents:60,179,000.00

Long Term Debt:$321.37M

Net Debt:$268.90M

DIVISION II: FINANCIAL STATEMENTS ANALYSIS

A. Income Statement Analysis

Revenue Components (2)

Revenue TTM: $580.95M

Linear Growth: 6.7%

📊 Click to view full CNTY Revenue analysis & methodology →

Cost Of Revenue Ttm:$0.00

Profitability Breakdown (2)

$0.00

Operating income TTM: $56.51M

Linear Growth: -6.5%

📊 Click to view full CNTY Operating Income analysis & methodology →

Bottom Line Performance (3)

-$55.91M

Income Before Tax:-$46.98M

Ebitda Ttm:108,221,000.00

Operating Expenses (5)

Operating Expenses:524,441,000.00

R And D Expense:0.00

Sga Expense:145,334,000.00

Income Tax Expense:$2.55M

Interest Expense:104,419,000.00

Expense Ratios (3)

R And D To Revenue Percentage:0.0%

Sga To Revenue Percentage:95.6%

Ebitda Margin:18.6%

B. Balance Sheet Analysis

Asset Composition (5)

Total Assets:$1.11B

Current Assets:$92.65M

Ppe Net:882,052,000.00

Goodwill:10,377,000.00

Intangible Assets:$72.43M

Liability Structure (4)

Total Liabilities:1,140,750,000.00

Current Liabilities:77,633,000.00

Long Term Debt:$321.37M

Short Term Debt:$7.70M

Equity & Capital (3)

Equity:-$35.55M

Retained Earnings:-$233.36M

Common Stock:50,000,000.00

Working Capital Items (3)

Accounts Receivable:13,171,000.00

Inventory:3,483,000.00

Accounts Payable:31,713,000.00

Special Items (2)

Contract Liabilities:0.00

Stock Based Compensation:161,000.00

C. Cash Flow Analysis

Operating Activities (2)

Operating cash flow TTM: $10.06M

Linear Growth: -43.3%

-$7.89M

Investment Activities (2)

Investing Cash Flow:-$2.69M

Capital Expenditures Ttm:17,954,000.00

Financing Activities (3)

Financing Cash Flow:-$3.33M

Dividends Paid Ttm:0.00

Stock Repurchase:411,000.00

Capital Transactions (3)

Common Stock Issuance:0.00

Long Term Debt Issuance:$576.00K

Long Term Debt Repayments:$1.31M

Non-Cash Items (1)

Depreciation Amortization Ttm:51,714,000.00

DIVISION III: OPERATIONAL METRICS

A. Per Share Analysis

Earnings Per Share (3)

EPS (Basic TTM):-1.94

-$1.94

Earnings Per Share Ttm:-$1.98

Revenue & Cash Per Share (2)

Sales Per Share Ttm:20.60

Operating Cash Flow Per Share:$0.24

Book Value & Capital (2)

Book Value Per Share:-$1.26

Cash Per Share:2.13

Dividend Policy (1)

Dividend Payout Ratio:-999.00x

B. Operational Efficiency

Asset Utilization (2)

Asset Turnover Ttm:0.51x

Working Capital Turnover Ttm:38.69x

Receivables Management (2)

Receivables Turnover Ttm:44.11x

Days Sales Outstanding Ttm:8.28

Inventory Management (2)

Inventory Turnover Ttm:166.80x

Days Inventory Outstanding Ttm:2.19

Payables & Cash Cycle (2)

Days Payable Outstanding:19.92

Cash Conversion Cycle:-9.46

C. Quality & Risk Metrics

Financial Quality Scores (2)

Financial Strength Score:40.00

Quality Score:35.00

Market Metrics (2)

Beta:0.00x

Volatility Category:unknown

DIVISION IV: INVESTMENT ANALYSIS

A. Value Investment Framework

Owner Earnings Analysis (1)

-$7.89M

Damodaran Growth Analysis (4)

Reinvestment Rate:-68.4%

Fundamental Growth Rate (g):-12.4%

Market-Implied Growth Rate:-6.8%

Brina Gap:

-5.6%

☷ Click to view full CNTY Brina Gap analysis →

B. Log-Linear Regression Growth Analysis

Growth Rates (Log-Linear Regression) (2)

Revenue Growth Rate (Linear):6.7%

Operating Income Growth Rate (Linear):-6.5%

Cash Flow Growth Rates (1)

Operating Cash Flow Growth Rate (Linear):-43.3%

Other Growth Rates (1)

Book Value Growth Rate (Linear):-39.3%

C. Company Profile & Context

Corporate Information (6)

Symbol:CNTY

Company Name:CENTURY CASINOS, INC.

Sector:Unknown

Industry:Hospitality

Exchange:NASDAQ

Country:United States

Market Classification (3)

Market Cap Category:N/A

Price Category:low

Volume Category:N/A

Share Structure (3)

Shares Outstanding:28.20M

Shares Outstanding Basic:28.20M

Shares Outstanding Diluted:28.20M

Data Processing Info (3)

Processing Version:v3.0

Last Updated:2026-09-01 05:24:32 UTC

Data Timestamp:2026-08-20T15:21:12.241835