Meridian (MRDN)


Market Price (8/10/2026): $14.44 | Market Cap: $182.9 MilSector: Consumer Discretionary | Industry: Casinos & Gaming

Meridian (MRDN)


Market Price (8/10/2026): $14.44
Market Cap: $182.9 Mil
Sector: Consumer Discretionary
Industry: Casinos & Gaming

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 14%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 14%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 11%

Attractive yield
FCF Yield is 11%

Megatrend and thematic drivers
Megatrends include Fintech & Digital Payments. Themes include Digital Payments, Online Banking & Lending, and Wealth Management Technology.

Weak multi-year price returns
2Y Excs Rtn is -94%, 3Y Excs Rtn is -113%

Stock price has recently run up significantly
6M Rtn6 month market price return is 111%

Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 93%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -49%

High stock price volatility
Vol 12M is 101%

Key risks
MRDN key risks include [1] navigating complex and evolving regulations across its diverse operational markets in Europe, Show more.

0 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 14%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 14%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 11%
2 Attractive yield
FCF Yield is 11%
3 Megatrend and thematic drivers
Megatrends include Fintech & Digital Payments. Themes include Digital Payments, Online Banking & Lending, and Wealth Management Technology.
4 Weak multi-year price returns
2Y Excs Rtn is -94%, 3Y Excs Rtn is -113%
5 Stock price has recently run up significantly
6M Rtn6 month market price return is 111%
6 Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 93%
7 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -49%
8 High stock price volatility
Vol 12M is 101%
9 Key risks
MRDN key risks include [1] navigating complex and evolving regulations across its diverse operational markets in Europe, Show more.

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 8/3/2026

Meridian (MRDN) stock has gained about 45% since 4/30/2026 because of the following key factors:

1. Sustained GAAP Profitability and Strong Earnings Beats. Meridian Holdings reported its second consecutive quarter of GAAP profitability in fiscal Q2 2026 (ending June 30, 2026), with a net income of $2.2 million and diluted EPS of $0.17. This comfortably surpassed analyst estimates, which ranged from $0.07 to $0.15. This follows an impressive 1076.47% EPS beat in fiscal Q1 2026 (ending March 31, 2026), where the company reported $0.18 EPS against an estimate of $0.0153. This marked a significant turnaround from prior losses, signaling improved operational efficiency and a strong positive shift in the company's financial health.

2. Robust Revenue Growth and Customer Expansion. The company achieved significant top-line growth, with fiscal Q2 2026 revenue increasing 16% year-over-year to $50.2 million. Notably, the first half of fiscal 2026 saw revenue exceed $100 million for the first time in Meridian's history, representing a 17% year-over-year increase. This growth was primarily driven by its Meridianbet segment, which experienced a 23% year-over-year revenue increase in fiscal Q2 2026. This segment also reported strong customer acquisition metrics, including a 37% rise in new customer registrations and a 24% growth in first-time depositors and total deposit volume.

Show more
Updated on 8/3/2026

Meridian (MRDN) stock has gained about 45% since 4/30/2026 because of the following key factors:

1. Sustained GAAP Profitability and Strong Earnings Beats. Meridian Holdings reported its second consecutive quarter of GAAP profitability in fiscal Q2 2026 (ending June 30, 2026), with a net income of $2.2 million and diluted EPS of $0.17. This comfortably surpassed analyst estimates, which ranged from $0.07 to $0.15. This follows an impressive 1076.47% EPS beat in fiscal Q1 2026 (ending March 31, 2026), where the company reported $0.18 EPS against an estimate of $0.0153. This marked a significant turnaround from prior losses, signaling improved operational efficiency and a strong positive shift in the company's financial health.

2. Robust Revenue Growth and Customer Expansion. The company achieved significant top-line growth, with fiscal Q2 2026 revenue increasing 16% year-over-year to $50.2 million. Notably, the first half of fiscal 2026 saw revenue exceed $100 million for the first time in Meridian's history, representing a 17% year-over-year increase. This growth was primarily driven by its Meridianbet segment, which experienced a 23% year-over-year revenue increase in fiscal Q2 2026. This segment also reported strong customer acquisition metrics, including a 37% rise in new customer registrations and a 24% growth in first-time depositors and total deposit volume.

3. Significant Balance Sheet Deleveraging. Meridian Holdings substantially strengthened its financial position through aggressive debt reduction. In fiscal Q2 2026, the company reduced its total debt by 45% year-over-year to $26.7 million and net debt by 65% year-over-year to $9.4 million. This sustained deleveraging effort, spanning six sequential quarters, resulted in an approximately 80% decline in interest expense, thereby enhancing the company's financial flexibility and reducing its risk profile.

4. Positive Analyst Sentiment and Upgraded Forecasts. Investment analysts responded favorably to Meridian's recent performance. Zacks Research, for instance, boosted its fiscal Q3 2026 EPS estimates to $0.14 from $0.07 and projected full-year fiscal 2026 EPS at $0.66 on July 30, 2026. Earlier in the period, Wall Street Zen upgraded the stock to a "strong-buy" rating on May 9, 2026, and Maxim Group reiterated a "Buy" rating with a $26.00 price target on April 29, 2026.

Show less
Holding a concentrated position? Know your true downside before the momentum shifts.
Protect Your Wealth →

Stock Movement Drivers

Fundamental Drivers

The 45.8% change in MRDN stock from 4/30/2026 to 8/9/2026 was primarily driven by a 40.9% change in the company's P/S Multiple.
(LTM values as of)43020268092026Change
Stock Price ($)9.8914.4245.8%
Change Contribution By: 
Total Revenues ($ Mil)1901973.7%
P/S Multiple0.70.940.9%
Shares Outstanding (Mil)1313-0.2%
Cumulative Contribution45.8%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2026 to 8/9/2026
ReturnCorrelation
MRDN45.8% 
Market (SPY)7.6%32.7%
Sector (XLY)1.3%28.1%

Fundamental Drivers

The 64.9% change in MRDN stock from 1/31/2026 to 8/9/2026 was primarily driven by a 62.9% change in the company's P/S Multiple.
(LTM values as of)13120268092026Change
Stock Price ($)8.7414.4264.9%
Change Contribution By: 
Total Revenues ($ Mil)17919710.1%
P/S Multiple0.60.962.9%
Shares Outstanding (Mil)1213-8.0%
Cumulative Contribution64.9%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2026 to 8/9/2026
ReturnCorrelation
MRDN64.9% 
Market (SPY)12.1%25.0%
Sector (XLY)-0.9%22.1%

Fundamental Drivers

The -19.1% change in MRDN stock from 7/31/2025 to 8/9/2026 was primarily driven by a -20.0% change in the company's P/S Multiple.
(LTM values as of)73120258092026Change
Stock Price ($)17.8214.42-19.1%
Change Contribution By: 
Total Revenues ($ Mil)16919716.7%
P/S Multiple1.20.9-20.0%
Shares Outstanding (Mil)1113-13.3%
Cumulative Contribution-19.1%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2025 to 8/9/2026
ReturnCorrelation
MRDN-19.1% 
Market (SPY)23.4%21.2%
Sector (XLY)8.9%19.3%

Fundamental Drivers

The -41.4% change in MRDN stock from 7/31/2023 to 8/9/2026 was primarily driven by a -76.2% change in the company's Shares Outstanding (Mil).
(LTM values as of)73120238092026Change
Stock Price ($)24.6014.42-41.4%
Change Contribution By: 
Total Revenues ($ Mil)40197395.9%
P/S Multiple1.90.9-50.3%
Shares Outstanding (Mil)313-76.2%
Cumulative Contribution-41.4%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2023 to 8/9/2026
ReturnCorrelation
MRDN-41.4% 
Market (SPY)74.9%14.4%
Sector (XLY)41.1%13.4%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
MRDN Return-7%-60%-5%-18%-60%43%-83%
Peers Return20%-25%-11%-7%-6%-10%-37%
S&P 500 Return27%-19%24%23%16%13%105%

Monthly Win Rates [3]
MRDN Win Rate42%25%33%50%17%62% 
Peers Win Rate63%43%50%50%52%50% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
MRDN Max Drawdown-55%-77%-52%-68%-71%-43% 
Peers Max Drawdown-24%-37%-34%-27%-37%-41% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: BIO, QGEN, QDEL, TMO, DHR.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/7/2026 (YTD)

How Low Can It Go

EventMRDNS&P 500
2023 SVB Regional Banking Crisis
  % Loss-48.3%-6.7%
  % Gain to Breakeven93.4%7.1%
  Time to Breakeven305 days31 days
2020 COVID-19 Crash
  % Loss-26.2%-33.7%
  % Gain to Breakeven35.5%50.9%
  Time to Breakeven9 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-14.3%-19.2%
  % Gain to Breakeven16.7%23.8%
  Time to Breakeven1 days105 days
2016-2017 Trump Reflation Bond Selloff
  % Loss-98.0%-3.7%
  % Gain to Breakeven4900.0%3.9%
  Time to Breakeven1169 days6 days
2013 Taper Tantrum
  % Loss-78.3%-0.2%
  % Gain to Breakeven360.0%0.2%
  Time to Breakeven84 days1 days

Compare to BIO, QGEN, QDEL, TMO, DHR

In The Past

Meridian's stock fell -8.6% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 9.4% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventMRDNS&P 500
2023 SVB Regional Banking Crisis
  % Loss-48.3%-6.7%
  % Gain to Breakeven93.4%7.1%
  Time to Breakeven305 days31 days
2020 COVID-19 Crash
  % Loss-26.2%-33.7%
  % Gain to Breakeven35.5%50.9%
  Time to Breakeven9 days140 days
2016-2017 Trump Reflation Bond Selloff
  % Loss-98.0%-3.7%
  % Gain to Breakeven4900.0%3.9%
  Time to Breakeven1169 days6 days
2013 Taper Tantrum
  % Loss-78.3%-0.2%
  % Gain to Breakeven360.0%0.2%
  Time to Breakeven84 days1 days

Compare to BIO, QGEN, QDEL, TMO, DHR

In The Past

Meridian's stock fell -8.6% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 9.4% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Meridian (MRDN)

N/A

AI Analysis | Feedback

  • A regional bank similar to a smaller PNC or KeyBank.
  • Like a local version of Wells Fargo, focused on specific communities.

AI Analysis | Feedback

Meridian (MRDN) provides the following major services:

  • Commercial Banking: Offers various lending solutions, including commercial real estate loans, commercial and industrial loans, and construction loans to businesses.
  • Retail Banking: Provides a full suite of deposit products such as checking, savings, money market, and certificates of deposit, along with residential mortgages for individual customers.
  • Treasury Management: Delivers specialized cash management solutions, including online banking, remote deposit capture, and wire transfer services for businesses.
  • Wealth Management: Offers financial planning, investment management, and trust services to help individuals and businesses manage their assets.

AI Analysis | Feedback

Meridian (MRDN) operated as a bank holding company for Meridian Bank prior to its acquisition. As a financial institution, it primarily served a diversified client base rather than having a few specific "major customers" in the traditional sense. Banks generate revenue from a broad range of financial products and services offered to many individuals and businesses.

Meridian Bank served the following categories of customers:

  • Individuals: Providing retail banking services such as checking accounts, savings accounts, mortgages, home equity loans, and other personal banking products.
  • Small to Medium-sized Businesses: Offering commercial loans, lines of credit, treasury management services, and business deposit accounts to a diverse range of local and regional companies, including professional practices.
  • Commercial Real Estate Investors and Developers: Providing financing solutions for various commercial real estate projects and investments.

AI Analysis | Feedback

null

AI Analysis | Feedback

```html William Scott, President, Executive Chairman of the Board and Interim Chief Executive Officer Mr. Scott was appointed CEO in December 2025 and has a tenure of less than a year. He directly owns 0.033% of the company's shares. Weiting Feng, Chief Operating Officer, Director, Chief Financial Officer and Principal Accounting Officer Ms. Feng also serves as a Director for Meridian Holdings Inc. Zoran Milosevic, Chief Executive Officer, MeridianBet Group Mr. Milosevic is the CEO of MeridianBet Group, which is the B2C division of Meridian Holdings Inc., operating in online sports betting and gaming across multiple international markets. ```

AI Analysis | Feedback

Key Risks to Meridian Holdings Inc. (MRDN)

  1. Regulatory and Legal Risks in the Global Gaming and Betting Industry: Meridian Holdings Inc. operates a significant portion of its business through Meridianbet Group, an online sports betting and gaming operator licensed in multiple jurisdictions across Europe, Africa, and South America. The company's success is heavily reliant on navigating complex and evolving regulatory landscapes in these diverse markets. Changes in governmental regulations, stricter licensing requirements, increased taxation, or adverse legal decisions in any of its operational regions could significantly impact its ability to operate, increase compliance costs, and potentially limit its market reach or profitability. For instance, countries like Brazil are transitioning to formal regulatory frameworks, which, while potentially reducing structural uncertainty, also introduce new compliance demands.
  2. Intense Competition and Market Dynamics in the Online Gaming and Betting Sector: The online gaming and betting industry is characterized by intense competition. Meridian Holdings Inc. competes through its B2C online sports betting and gaming offerings and its B2B technology and content licensing. The broader gaming sector has recently experienced "valuation headwinds," indicating a challenging market environment. Failure to continually innovate its gaming platforms and content, effectively attract and retain users, or secure B2B clients amidst aggressive competition could lead to erosion of market share, reduced revenue growth, and decreased profitability.
  3. Dependence on Sustained Operational Execution and Financial Performance: Following its corporate rebranding and significant restructuring, including the acquisition of Meridianbet Group, Meridian Holdings Inc. faces heightened investor scrutiny on its financial performance. The company's ability to consistently deliver on key financial metrics such as revenue trajectory across regulated markets, adjusted EBITDA consistency, net income sustainability, cash flow dynamics, and balance sheet discipline is crucial. Any failure to meet operational execution goals or achieve anticipated financial results post-restructuring could negatively impact investor confidence and the company's valuation.

AI Analysis | Feedback

null

AI Analysis | Feedback

Meridian Holdings Inc. (NASDAQ: MRDN) operates as a B2B and B2C gaming technology company with a presence across multiple international markets, primarily in Europe, Africa, and South America. The company's main products and services include online sports betting, iGaming platforms (casino games, slots), online casinos, raffle ticket businesses, and subscription-based digital memberships and trade promotion lotteries. Here are the addressable market sizes for Meridian Holdings' main products and services by region:

Global Online Gambling and iGaming Markets:

  • The global online gambling market is projected to reach USD 153.57 billion by 2030, exhibiting a Compound Annual Growth Rate (CAGR) of 11.7%.
  • The broader global online gaming market (including video games) was valued at USD 225.28 billion in 2025 and is projected to grow to USD 501.91 billion by 2034, with a CAGR of 9.4%.
  • The global iGaming platform market is expected to be worth approximately USD 333.5 billion by 2034, growing from USD 88.4 billion in 2024 at a CAGR of 14.2% from 2025 to 2034.

Regional Market Sizes:

  • Europe (Online Sports Betting and iGaming Platforms): Europe's online gambling revenue is estimated to be around €52.3 billion (approximately USD 57 billion) in 2025, with an annual growth rate of about 11%. Europe held a dominant share of over 42.8% in the global iGaming Platform Market in 2024, representing USD 37.83 billion in revenue. The region's total online gambling value is projected to reach USD 122 billion by 2034.
  • Africa (Online Sports Betting and Online Casinos): The Nigerian betting industry alone is valued at over $2 billion and is expected to reach $4.7 billion over the next decade. The Middle East & Africa online gaming market reached USD 14.04 billion in 2025 and is expected to reach USD 15.85 billion in 2026.
  • South America (Online Sports Betting and Online Casinos): The online gambling market in Brazil is projected to generate around $1.97 billion in revenue in 2024, with an expected annual growth rate of 16.51% from 2024 to 2028.
  • Mexico (Regulated Online Casino - Mexplay, and Online Gambling): The Mexico online gambling market generated USD 1,616.9 million in 2024 and is expected to reach USD 3,156.5 million by 2030, with a CAGR of 11.9% from 2025 to 2030. Specifically, the online casino market in Mexico is anticipated to reach US$ 943.7 million by 2030, growing at a CAGR of 13.6% from 2025 to 2030. Another estimate for the Mexico online gambling market is $830 million in 2025, with a projected CAGR of 15.36% from 2025 to 2033.
  • United Kingdom (Raffle Ticker Business - RKings Competitions): The UK market for prize draws and competitions (PDCs), which includes raffles, is estimated to have an annual spend of £1.3 billion (ranging from £700 million to £2.1 billion) as of November 2023. The broader UK lottery market generated USD 17,241.8 million in 2024 and is expected to reach USD 26,312.6 million by 2030, growing at a CAGR of 7.4% from 2025 to 2030.
  • Australia (Subscription-based Digital Memberships and Trade Promotion Lotteries - Classics for a Cause): The Australia online gambling market size reached USD 6130.48 million in 2025 and is projected to reach almost USD 13101.06 million by 2035, growing at a CAGR of 7.89% between 2026 and 2035. Another report indicates the Australia online gambling market size was USD 5.5 billion in 2025, estimated to reach USD 9.0 billion by 2034 with a CAGR of 5.67% from 2026-2034. The lotteries industry in Australia is estimated to grow to $13.5 billion by 2023-24.

AI Analysis | Feedback

Meridian (NASDAQ: MRDN) is expected to drive future revenue growth over the next 2-3 years through several key initiatives focused on expanding its market presence, leveraging its integrated gaming platforms, and growing its product offerings.

The following are 3-5 expected drivers of future revenue growth:

  1. International Expansion in Regulated Markets: Meridian is actively pursuing expansion in regulated markets, with a particular focus on regions like Brazil, which is transitioning towards a formal regulatory framework. The company has reported strong user acquisition metrics, including significant increases in registrations and deposit activity, within these expanding international markets.
  2. Growth in Online Casino and Raffle Operations: The company anticipates continued revenue growth from its online casino and raffle operations. This is supported by the consistent expansion of its online casino offerings, including the launch of over 2,500 new games.
  3. Leveraging B2B Gaming Technology and Content Licensing: Meridian's B2B division, which includes game developer Expanse Studios and the iGaming platform GMAG, is focused on developing, licensing, and distributing proprietary gaming platforms to a global client base. This segment is a key driver for revenue generation through technology and content licensing to other operators.
  4. Integration and Geographic Footprint Expansion from Meridianbet Group Acquisition: The acquisition of Meridianbet Group in 2024 significantly expanded Meridian's geographic footprint across various regulated jurisdictions in Europe, Africa, and South America. The ongoing integration of Meridianbet Group's operations and its broader reach are expected to contribute to increased revenue.
  5. Vertical Integration and In-house Game Development: Meridian's vertically integrated structure, particularly its in-house game development capabilities, is expected to enhance gross margins by reducing reliance on third-party royalty payments. This strategic advantage allows the company to offer more competitive products and potentially drive higher revenue through proprietary content.

AI Analysis | Feedback

Share Repurchases

  • Golden Matrix Group, Inc., the company now known as Meridian Holdings Inc., announced an Equity Buyback program for $3 million worth of its shares in December 2025.

Share Issuance

  • Meridian Holdings Inc. completed a 1-for-12 reverse stock split effective March 3, 2026, which reduced its outstanding shares from approximately 151.7 million to 12.6 million and authorized shares from 300 million to 25 million.
  • The company, under its former name Golden Matrix Group, established an at-the-market (ATM) program allowing it to sell up to US$13.0 million of common stock.
  • As of a March 2026 filing, 332,166 shares, valued at US$609,376, had been issued under the ATM program, leaving US$19.39 million in total capacity, subject to a US$13.0 million immediate ceiling.

Outbound Investments

  • Meridian Holdings Inc. acquired 100% of Meridianbet Group in 2024, an acquisition that significantly expanded its geographic footprint across Europe, Africa, and South America.
  • The acquisition of Meridianbet Group involved both cash and stock consideration.
  • The company's other subsidiaries include RKings Competitions in the UK, Mexplay in Mexico, and Classics for a Cause in Australia.

Capital Expenditures

  • Meridian Holdings maintained a solid cash position of $22 million as of Q3 2025, supporting ongoing investment in platform innovation and geographic expansion.

Better Bets vs. Meridian (MRDN)

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

MRDNBIOQGENQDELTMODHRMedian
NameMeridian Bio-Rad .Qiagen QuidelOr.Thermo F.Danaher  
Mkt Price14.42352.4742.3012.29594.00204.76123.53
Mkt Cap0.29.48.70.8220.4144.49.1
Rev LTM1972,5892,1002,67446,33625,1072,632
Op Inc LTM4224517-358,4765,127371
FCF LTM21353441-2117,3185,466397
FCF 3Y Avg-293447-1237,1505,136447
CFO LTM28493654-579,0136,635574
CFO 3Y Avg-458635568,6466,417635

Growth & Margins

MRDNBIOQGENQDELTMODHRMedian
NameMeridian Bio-Rad .Qiagen QuidelOr.Thermo F.Danaher  
Rev Chg LTM14.1%1.4%3.0%-2.5%7.2%4.6%3.8%
Rev Chg 3Y Avg77.8%-2.1%2.1%-5.4%2.2%2.9%2.1%
Rev Chg Q16.1%-0.1%0.3%2.8%10.5%5.5%4.2%
QoQ Delta Rev Chg LTM3.7%-0.0%0.1%0.6%2.5%1.3%1.0%
Op Inc Chg LTM306.0%0.4%-1.2%-130.6%7.8%16.1%4.1%
Op Inc Chg 3Y Avg13.3%-13.1%49.9%-64.0%6.1%-3.3%1.4%
Op Mgn LTM2.2%8.7%24.6%-1.3%18.3%20.4%13.5%
Op Mgn 3Y Avg0.6%10.1%19.6%2.2%18.0%20.0%14.1%
QoQ Delta Op Mgn LTM2.4%-0.2%0.2%-0.5%0.1%1.2%0.2%
CFO/Rev LTM14.3%19.0%31.2%-2.1%19.5%26.4%19.2%
CFO/Rev 3Y Avg-17.8%31.3%2.0%19.7%26.5%19.7%
FCF/Rev LTM10.6%13.6%21.0%-7.9%15.8%21.8%14.7%
FCF/Rev 3Y Avg-11.4%22.1%-4.5%16.3%21.2%16.3%

Valuation

MRDNBIOQGENQDELTMODHRMedian
NameMeridian Bio-Rad .Qiagen QuidelOr.Thermo F.Danaher  
Mkt Cap0.29.48.70.8220.4144.49.1
P/S0.93.64.20.34.85.83.9
P/Op Inc41.742.016.9-24.126.028.227.1
P/EBIT-2.123.617.4-1.024.228.620.5
P/E-2.242.421.3-0.831.636.126.5
P/CFO6.519.113.3-14.724.521.816.2
Total Yield-44.6%2.4%4.7%-124.9%3.5%3.4%2.9%
Dividend Yield0.1%0.0%-0.0%0.0%0.3%0.7%0.0%
FCF Yield 3Y Avg-4.0%5.0%-8.2%3.9%3.4%3.9%
D/E0.10.10.23.70.20.20.2
Net D/E-0.0-0.00.13.50.20.20.1

Returns

MRDNBIOQGENQDELTMODHRMedian
NameMeridian Bio-Rad .Qiagen QuidelOr.Thermo F.Danaher  
1M Rtn2.4%19.0%1.9%-32.8%12.7%2.9%2.6%
3M Rtn7.3%38.6%29.2%13.7%27.9%19.9%23.9%
6M Rtn110.7%16.9%-16.2%-57.8%9.6%-5.1%2.3%
12M Rtn-14.2%33.4%-11.3%-48.6%29.4%2.8%-4.2%
3Y Rtn-41.7%-11.4%-0.6%-84.1%9.6%-8.9%-10.2%
1M Excs Rtn-0.5%15.7%-2.1%-32.4%10.4%1.6%0.6%
3M Excs Rtn25.6%31.2%21.6%8.3%19.6%11.1%20.6%
6M Excs Rtn87.4%3.6%-30.8%-71.3%-4.4%-18.8%-11.6%
12M Excs Rtn-42.2%11.1%-32.5%-69.9%10.5%-16.6%-24.6%
3Y Excs Rtn-113.3%-84.6%-77.8%-157.1%-63.6%-81.0%-82.8%

Comparison Analyses

null

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
MeridianBet Group125106   
RKings & Classics for a Cause (CFAC)4432   
GMAG1512   
Business-to-business (B2B) Segment  1615 
Business-to-consumer (B2C) Segment  2921 
Gaming    9
Total18315144369


Operating Income by Segment
$ Mil20252024
MeridianBet Group1820
RKings & Classics for a Cause (CFAC)23
GMAG-0-1
Restructuring costs-0-2
Stock-based compensation expenses-4-5
Holding company expenses-5-2
Depreciation expenses-6-4
Amortization expenses-9-6
Impairment loss-92 
Total-963


Price Behavior

Price Behavior
Market Price$14.42 
Market Cap ($ Bil)0.2 
First Trading Date01/25/2017 
Distance from 52W High-14.8% 
   50 Days200 Days
DMA Price$13.28$10.15
DMA Trendupup
Distance from DMA8.6%42.1%
 3M1YR
Volatility94.5%101.7%
Downside Capture291.78211.53
Upside Capture265.80145.80
Correlation (SPY)35.6%21.2%
MRDN Betas & Captures as of 7/31/2026

 1M2M3M6M1Y3Y
Beta4.642.372.431.771.460.80
Up Beta-2.84-0.071.960.081.260.77
Down Beta10.951.931.532.201.321.08
Up Capture365%404%374%349%121%15%
Bmk +ve Days11223567138427
Stock +ve Days10223359112333
Down Capture560%277%243%171%154%96%
Bmk -ve Days11212859114326
Stock -ve Days12202965135400

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with MRDN
MRDN-20.0%101.4%0.24-
Sector ETF (XLY)7.9%19.4%0.2719.7%
Equity (SPY)23.3%12.8%1.3621.4%
Gold (GLD)28.5%28.4%0.87-1.0%
Commodities (DBC)32.9%19.8%1.32-10.0%
Real Estate (VNQ)14.2%13.8%0.725.6%
Bitcoin (BTCUSD)-43.7%43.0%-1.219.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with MRDN
MRDN-29.7%87.8%-0.02-
Sector ETF (XLY)6.7%24.0%0.2413.1%
Equity (SPY)13.5%17.2%0.6113.8%
Gold (GLD)18.6%18.6%0.81-1.9%
Commodities (DBC)8.2%19.6%0.31-0.1%
Real Estate (VNQ)2.3%18.9%0.029.9%
Bitcoin (BTCUSD)9.0%53.0%0.364.2%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with MRDN
MRDN-31.3%221.4%0.74-
Sector ETF (XLY)12.5%22.2%0.525.6%
Equity (SPY)15.4%17.9%0.736.1%
Gold (GLD)12.1%16.2%0.611.9%
Commodities (DBC)7.4%18.0%0.332.6%
Real Estate (VNQ)4.8%20.7%0.204.7%
Bitcoin (BTCUSD)58.4%66.2%0.984.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date7152026
Short Interest: Shares Quantity0.1 Mil
Short Interest: % Change Since 6302026-13.6%
Average Daily Volume0.1 Mil
Days-to-Cover Short Interest1
Basic Shares Quantity12.7 Mil
Short % of Basic Shares0.4%

Earnings Returns History

Updated 8/7/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/29/2026-21.9%1.7% 
4/28/20263.7%78.0%45.0%
10/30/20252.0%2.0%-17.6%
8/6/2025-3.2%-10.3%-36.7%
5/8/2025-3.2%-8.1%3.8%
1/13/202511.7%3.6%-8.4%
11/12/2024-3.4%-12.4%-31.4%
9/12/20244.7%11.5%-1.3%
...
SUMMARY STATS   
# Positive15147
# Negative91016
Median Positive3.2%6.6%10.1%
Median Negative-3.2%-7.0%-13.3%
Max Positive11.7%78.0%45.0%
Max Negative-21.9%-27.5%-36.7%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/29/2026-21.9%1.7% 
4/28/20263.7%78.0%45.0%
10/30/20252.0%2.0%-17.6%
8/6/2025-3.2%-10.3%-36.7%
5/8/2025-3.2%-8.1%3.8%
1/13/202511.7%3.6%-8.4%
11/12/2024-3.4%-12.4%-31.4%
9/12/20244.7%11.5%-1.3%
7/9/2024-2.5%4.2%-5.0%
3/14/20240.7%3.1%-12.6%
1/17/20246.6%11.4%30.3%
11/21/20233.4%8.2%-2.6%
9/7/20232.6%9.2%2.6%
6/14/2023-8.1%-0.4%-2.7%
3/16/2023-0.6%-27.5%-35.5%
11/17/20223.2%5.1%-13.5%
9/7/20220.0%-4.6%-32.5%
6/3/2022-2.7%-13.6%-13.1%
3/8/20225.4%43.6%10.1%
1/13/20222.9%-3.5%-4.3%
9/10/20211.0%0.0%22.0%
7/12/20215.0%-5.9%-16.2%
4/30/2021-3.9%-1.8%-22.9%
2/10/20210.8%14.2%5.6%
SUMMARY STATS   
# Positive15147
# Negative91016
Median Positive3.2%6.6%10.1%
Median Negative-3.2%-7.0%-13.3%
Max Positive11.7%78.0%45.0%
Max Negative-21.9%-27.5%-36.7%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202607/29/202610-Q
03/31/202604/28/202610-Q
12/31/202503/31/202610-K
09/30/202510/30/202510-Q
06/30/202508/06/202510-Q
03/31/202505/08/202510-Q
12/31/202403/24/202510-K
09/30/202411/12/202410-Q
06/30/202408/13/202410-Q
01/31/202403/14/202410-Q
10/31/202301/17/202410-K
07/31/202309/07/202310-Q
04/30/202306/14/202310-Q
01/31/202303/16/202310-Q
10/31/202201/30/202310-K
07/31/202209/07/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202607/29/202610-Q
03/31/202604/28/202610-Q
12/31/202503/31/202610-K
09/30/202510/30/202510-Q
06/30/202508/06/202510-Q
03/31/202505/08/202510-Q
12/31/202403/24/202510-K
09/30/202411/12/202410-Q
06/30/202408/13/202410-Q
01/31/202403/14/202410-Q
10/31/202301/17/202410-K
07/31/202309/07/202310-Q
04/30/202306/14/202310-Q
01/31/202303/16/202310-Q
10/31/202201/30/202310-K
07/31/202209/07/202210-Q
04/30/202206/03/202210-Q
01/31/202203/08/202210-Q
10/31/202101/13/202210-KT
07/31/202109/10/202110-Q
04/30/202106/09/202110-Q
01/31/202104/30/202110-K
10/31/202012/11/202010-Q
07/31/202009/08/202010-Q
04/30/202006/12/202010-Q
01/31/202006/08/202010-KT
10/31/201912/05/201910-Q
07/31/201910/23/201910-K

Recent Forward Guidance

Updated 7/30/2026

Latest: Q2 2026 Earnings Reported 7/29/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 Revenue Growth8.0%9.0%10.0%   

Prior: Q1 2026 Earnings Reported 4/28/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q2 2026 Revenue51.00 Mil52.00 Mil53.00 Mil   

Q3 2025 Earnings Reported 10/30/2025

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2025 Revenue186.00 Mil186.50 Mil187.00 Mil0 AffirmedGuidance: 186.50 Mil for 2025
Q4 2025 Revenue52.70 Mil53.20 Mil53.70 Mil   

Insider Activity

Updated 6/12/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Goodman, Anthony Brian DirectSell612202612.6810,000126,8005,749,911Form
2Goodman, Anthony Brian DirectSell612202613.029,000117,1806,034,288Form
3Goodman, Anthony Brian DirectSell612202613.047,00091,2806,160,918Form
4Goodman, Anthony Brian DirectSell528202610.3712,196126,4444,970,929Form
5McChesney, Thomas DirectSell51820266.852,00013,7001,035,535Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Goodman, Anthony Brian DirectSell612202612.6810,000126,8005,749,911Form
2Goodman, Anthony Brian DirectSell612202613.029,000117,1806,034,288Form
3Goodman, Anthony Brian DirectSell612202613.047,00091,2806,160,918Form
4Goodman, Anthony Brian DirectSell528202610.3712,196126,4444,970,929Form
5McChesney, Thomas DirectSell51820266.852,00013,7001,035,535Form
6McChesney, Thomas DirectSell51820267.001,0007,0001,072,211Form
7McChesney, Thomas DirectSell51820267.062,72719,2531,088,461Form
8McChesney, Thomas DirectSell51820265.624,46725,105910,440Form
9McChesney, Thomas DirectSell51820267.101007101,113,990Form
10McChesney, Thomas DirectSell51820266.955,00034,7501,091,150Form
11McChesney, Thomas DirectSell51820265.201,0005,200865,628Form
12McChesney, Thomas DirectSell51820265.221,0005,220874,178Form
13McChesney, Thomas DirectSell51820265.001,0005,000842,335Form
14McChesney, Thomas DirectSell51820265.701,0005,700965,962Form
15McChesney, Thomas DirectSell51820265.572,33413,000949,501Form
16McChesney, Thomas DirectSell51820265.503,00016,500950,406Form
17Goodman, Anthony Brian DirectSell506202612.7510,000127,5006,268,652Form
18Goodman, Anthony Brian DirectSell43020266.4110,00064,1003,215,634Form
19Goodman, Anthony Brian DirectSell43020266.3410,00063,4003,243,918Form
20Goodman, Anthony Brian DirectSell43020266.302,00012,6003,286,452Form
21Goodman, Anthony Brian DirectSell42320266.344,60329,1833,319,998Form
22Goodman, Anthony Brian DirectSell42320266.904042,7883,645,008Form
23Goodman, Anthony Brian DirectSell42320266.923,87626,8223,658,369Form
24Goodman, Anthony Brian DirectSell41620266.936,90047,8173,690,516Form
25Goodman, Anthony Brian DirectSell41620266.901006903,722,150Form
26Goodman, Anthony Brian DirectSell41620266.907134,9203,722,840Form
27Goodman, Anthony Brian DirectSell41620266.999036,3123,776,508Form
28Goodman, Anthony Brian DirectSell41620267.0010,00070,0003,788,232Form
29Goodman, Anthony Brian DirectSell41620267.0320,000140,5603,873,665Form
30Goodman, Anthony Brian DirectSell40820267.252481,7984,148,320Form
31Goodman, Anthony Brian DirectSell40820266.901,0066,9413,941,114Form
32McChesney, Thomas DirectSell40520264.743,94918,718832,567Form
33McChesney, Thomas DirectSell40520264.831,6007,728867,449Form
34McChesney, Thomas DirectSell40520264.821,5007,230873,365Form
35McChesney, Thomas DirectSell40520265.003,50017,500913,480Form
36Goodman, Anthony Brian DirectSell40120267.753,01623,3744,436,332Form
37Goodman, Anthony Brian DirectSell40120267.943,42127,1634,569,041Form
38Goodman, Anthony Brian DirectSell32520268.544,00034,1604,943,524Form
39Goodman, Anthony Brian DirectSell32520268.8610,00088,6005,164,202Form
40Goodman, Anthony Brian DirectSell32520269.675,50053,1855,733,024Form
41Goodman, Anthony Brian DirectSell31820269.873,59635,4935,905,882Form
42Goodman, Anthony Brian DirectSell31820269.051,90817,2675,447,765Form
43Goodman, Anthony Brian DirectSell31820269.281,0029,2995,603,923Form
44Goodman, Anthony Brian DirectSell31820269.041,0009,0405,468,052Form
45Milovanovic, Aleksandar DirectBuy31220261.8050,00090,000140,101,745Form
46Goodman, Anthony BrianChief Executive OfficerDirectSell12120261.7550,00087,50015,494,638Form
47Milovanovic, Aleksandar DirectBuy121020252.3525,00058,750182,037,980Form
48Milovanovic, Aleksandar DirectBuy121020252.5125,00062,750194,494,805Form
Core Cache Last Updated: 8/9/2026