Canterbury Park Holding Corporation 'New' Common Stock (CPHC)

FairStock Score: 58/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a value investor, I ask first whether the business is understandable and durable. Canterbury Park is a small, 214-employee operator of horse racing, unbanked card games, food and beverage, and real estate development. The business has modest scale and no obvious wide moat; racing and casino entertainment depend on local regulation, discretionary spending, and weather/seasonality. Financial health is mixed: debt is zero, which is a genuine Graham comfort, and trailing free cash flow was $5.2M, a 6.3% FCF yield on an $81.4M market cap. But reported results are erratic. In FY2023 the company earned $10.6M, then $2.1M in FY2024, then lost $529,431 in FY2025. The latest filed quarter, fiscal Q2 2026 ended 2026-06-30, had revenue of $16.2M and a net loss of $148,074. That pattern fits the given Lynch category: TURNAROUND — Loss in the latest year after earlier profits. Valuation is contradictory. At the 2026-10-13 close of $15.70, FairStock’s P/B is 0.97, so price is near book value, but its P/E is 785 and Graham Number is $2.70, with a negative margin of safety of -481.48%. FairStock’s Piotroski F-Score is 4/9, and its Altman Z-Score is 2.42, suggesting neither clear distress nor clear strength. Growth is not the issue; profitability is. Revenue has been flat-to-slightly-down annually, while earnings collapsed. I would need evidence that the losses are temporary and that normalized earning power can return before treating this as a bargain. The asset value and cash flow offer some downside cushion, but the earnings record demands caution.

In plain English: Canterbury Park runs horse racing, a casino, food and drinks, and some real estate. The business looks weak and unstable right now: it lost money in fiscal 2025 and in the latest quarter ended June 30, 2026, after earning profits in earlier years. At the recent price, the stock looks close to the accounting value of its net assets, but very expensive compared with its tiny recent profits.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer