Canterbury Park Holding Corporation 'New' (CPHC) — RQD Stock Rating Cockpit

Per the Roarable RQD rating, CPHC scores 56 out of 100, a letter grade of D+, with the verdict label "Roarable Sell — Weak Fundamentals / Trim." The five pillars are:

• Fundamental Cash Engine: 13 / 20. Per the RQD rating, this reflects an ROIC of 2.7% and an FCF yield of 10.96%. The FCF yield is a supportive datapoint, but the low ROIC indicates limited return on capital deployed in the business.
• Whale 13F Flow: 7 / 20. Per the RQD rating, this pillar captures institutional accumulation and options positioning. The low score signals weak institutional conviction; the source data contains no holder detail to explain it further.
• Insider Conviction: 12 / 20. Per the RQD rating, this pillar reflects SEC Form 4 and Congressional PTR cluster flow. The score is moderate-to-low, and the holders section provides no transaction detail.
• Macro Regime Fit: 11 / 20. Per the RQD rating, beta is 1.0 with a sector sensitivity assessment. A beta of 1.0 means the stock is modeled as moving in line with the broader market, offering no defensive cushion or high-beta leverage.
• Forensic Balance Sheet: 13 / 20. Per the RQD rating, Altman Z is 2.5, Piotroski F is 4/9, and Debt/Equity is 0.5. These readings are mid-range: the Altman Z sits in a range that is not in itself distress-signaling, while the Piotroski score is below the midpoint.

For a prospective investor evaluating the stock today, the rating implies that the cash-flow yield is the strongest element, but it is offset by weak returns on capital, low institutional interest, and a score that the rating methodology itself classifies as a trim signal. The upside case rests mainly on FCF yield being high relative to price; the valuation tradeoff is that the EV/EBITDA of 28.1 per the market data is elevated against the operating profitability shown in the financials.

Per the SEC financials, operating income declined from $11.5M in FY 2023 to $2.5M in FY 2025, and net income moved from $10.6M to $-0.5M over the same span. Per the market data, gross, operating, and net margins are each reported as 0%, and ROIC is 2.7%. Per the RQD rating, the Altman Z-Score is 2.5 and the Piotroski F-Score is 4/9. Debt/Equity is 0.5 per the forensic balance sheet pillar, and FY 2025 cash is $12.1M per the SEC financials.

• What products and services generate CPHC's revenue, and how is it distributed across segments? The source data reports revenue as $0.0M in each period and does not explain the discrepancy with the operating income and net income figures.
• Why are the period EPS values reported as N/A, and what is the trailing EPS? The P/E and EPS fields are unavailable in the source data.
• What drove the decline in operating income from $11.5M to $2.5M and the swing in net income from $10.6M to $-0.5M?
• What is the debt position in dollar terms? Debt is reported as N/A in every period while Debt/Equity is given as 0.5.
• What explains the 28.1 EV/EBITDA multiple relative to reported operating profitability?