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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 7/10

vs
industry
vs
history
Cash to Debt 0.80
ISCA's Cash to Debt is ranked higher than
67% of the 839 Companies
in the Global Leisure industry.

( Industry Median: 1.04 vs. ISCA: 0.80 )
ISCA' s 10-Year Cash to Debt Range
Min: 0.08   Max: No Debt
Current: 0.8

Equity to Asset 0.62
ISCA's Equity to Asset is ranked higher than
80% of the 824 Companies
in the Global Leisure industry.

( Industry Median: 0.52 vs. ISCA: 0.62 )
ISCA' s 10-Year Equity to Asset Range
Min: 0.46   Max: 0.77
Current: 0.62

0.46
0.77
Interest Coverage 5.17
ISCA's Interest Coverage is ranked higher than
61% of the 520 Companies
in the Global Leisure industry.

( Industry Median: 15.51 vs. ISCA: 5.17 )
ISCA' s 10-Year Interest Coverage Range
Min: 4.03   Max: 9999.99
Current: 5.17

4.03
9999.99
F-Score: 6
Z-Score: 2.17
M-Score: -2.79
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 6/10

vs
industry
vs
history
Operating margin (%) 12.84
ISCA's Operating margin (%) is ranked higher than
80% of the 810 Companies
in the Global Leisure industry.

( Industry Median: 8.72 vs. ISCA: 12.84 )
ISCA' s 10-Year Operating margin (%) Range
Min: 12.84   Max: 36.31
Current: 12.84

12.84
36.31
Net-margin (%) 7.39
ISCA's Net-margin (%) is ranked higher than
78% of the 810 Companies
in the Global Leisure industry.

( Industry Median: 5.73 vs. ISCA: 7.39 )
ISCA' s 10-Year Net-margin (%) Range
Min: -78.41   Max: 24.13
Current: 7.39

-78.41
24.13
ROE (%) 3.52
ISCA's ROE (%) is ranked higher than
64% of the 773 Companies
in the Global Leisure industry.

( Industry Median: 7.31 vs. ISCA: 3.52 )
ISCA' s 10-Year ROE (%) Range
Min: -66.04   Max: 18.46
Current: 3.52

-66.04
18.46
ROA (%) 2.24
ISCA's ROA (%) is ranked higher than
67% of the 815 Companies
in the Global Leisure industry.

( Industry Median: 3.52 vs. ISCA: 2.24 )
ISCA' s 10-Year ROA (%) Range
Min: -35.55   Max: 12.89
Current: 2.24

-35.55
12.89
ROC (Joel Greenblatt) (%) 6.16
ISCA's ROC (Joel Greenblatt) (%) is ranked higher than
65% of the 815 Companies
in the Global Leisure industry.

( Industry Median: 14.16 vs. ISCA: 6.16 )
ISCA' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: 6.16   Max: 28.64
Current: 6.16

6.16
28.64
Revenue Growth (%) -0.50
ISCA's Revenue Growth (%) is ranked higher than
61% of the 706 Companies
in the Global Leisure industry.

( Industry Median: 4.60 vs. ISCA: -0.50 )
ISCA' s 10-Year Revenue Growth (%) Range
Min: -5.8   Max: 32.3
Current: -0.5

-5.8
32.3
EBITDA Growth (%) 4.80
ISCA's EBITDA Growth (%) is ranked higher than
72% of the 602 Companies
in the Global Leisure industry.

( Industry Median: 6.30 vs. ISCA: 4.80 )
ISCA' s 10-Year EBITDA Growth (%) Range
Min: -16.3   Max: 39.5
Current: 4.8

-16.3
39.5
EPS Growth (%) -5.00
ISCA's EPS Growth (%) is ranked higher than
66% of the 518 Companies
in the Global Leisure industry.

( Industry Median: 7.10 vs. ISCA: -5.00 )
ISCA' s 10-Year EPS Growth (%) Range
Min: -60.1   Max: 103.5
Current: -5

-60.1
103.5
» ISCA's 10-Y Financials

Financials


Revenue & Net Income
Cash & Debt
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades

Q2 2013

ISCA Guru Trades in Q2 2013

Joel Greenblatt 50,654 sh (+81.26%)
Mario Gabelli 75,000 sh (unchged)
John Rogers 5,340,785 sh (-0.11%)
Charles Brandes 14,339 sh (-0.24%)
» More
Q3 2013

ISCA Guru Trades in Q3 2013

Paul Tudor Jones 16,100 sh (New)
Joel Greenblatt 97,784 sh (+93.04%)
John Rogers 5,644,235 sh (+5.68%)
Mario Gabelli 75,000 sh (unchged)
Charles Brandes 13,974 sh (-2.55%)
» More
Q4 2013

ISCA Guru Trades in Q4 2013

Murray Stahl 15,304 sh (New)
Mario Gabelli 85,078 sh (+13.44%)
John Rogers 5,900,454 sh (+4.54%)
Paul Tudor Jones Sold Out
Charles Brandes 13,224 sh (-5.37%)
Joel Greenblatt 34,774 sh (-64.44%)
» More
Q1 2014

ISCA Guru Trades in Q1 2014

Murray Stahl 23,449 sh (+53.22%)
Mario Gabelli 110,000 sh (+29.29%)
John Rogers 6,081,571 sh (+3.07%)
Joel Greenblatt Sold Out
Charles Brandes 12,974 sh (-1.89%)
» More
» Details

Insider Trades

Latest Guru Trades with ISCA

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
Joel Greenblatt 2014-03-31 Sold Out 0.03%$31.87 - $37.88 $ 31.98-6%0
Mario Gabelli 2014-03-31 Add 29.29%$31.87 - $37.88 $ 31.98-6%110000
Joel Greenblatt 2013-12-31 Reduce -64.44%0.06%$30.39 - $35.76 $ 31.98-4%34774
Joel Greenblatt 2013-09-30 Add 93.04%0.05%$30.67 - $35.25 $ 31.98-3%97784
Joel Greenblatt 2013-06-30 Add 81.26%0.03%$31.18 - $35.25 $ 31.98-4%50654
David Dreman 2013-03-31 Sold Out 0.65%$26.45 - $32.68 $ 31.987%0
Meridian Funds 2013-03-31 Sold Out 0.26%$26.45 - $32.68 $ 31.987%0
Jean-Marie Eveillard 2013-03-31 Sold Out 0.04%$26.45 - $32.68 $ 31.987%0
Joel Greenblatt 2013-03-31 Reduce -35.1%0.02%$26.45 - $32.68 $ 31.987%27945
David Dreman 2012-12-31 Reduce -35.88%0.32%$24.54 - $28.45 $ 31.9822%815966
Meridian Funds 2012-12-31 Reduce -33.09%0.12%$24.54 - $28.45 $ 31.9822%242000
Joel Greenblatt 2012-09-30 Add 52.15%0.03%$24.73 - $28.88 $ 31.9820%46546
Charles Brandes 2012-09-30 New Buy$24.73 - $28.88 $ 31.9820%11690
Joel Greenblatt 2012-06-30 Reduce -40.66%0.05%$23.42 - $28.56 $ 31.9825%30592
Meridian Funds 2012-03-31 Add 27.77%0.08%$25.16 - $27.38 $ 31.9831%430700
Joel Greenblatt 2012-03-31 Add 62.17%0.05%$25.16 - $27.38 $ 31.9831%51554
Jean-Marie Eveillard 2012-03-31 Reduce -38.06%0.03%$25.16 - $27.38 $ 31.9831%441276
Meridian Funds 2011-09-30 Add 86.66%0.13%$21.81 - $30.77 $ 31.9825%337100
Joel Greenblatt 2011-09-30 Add 224.45%0.07%$21.81 - $30.77 $ 31.9825%27231
Meridian Funds 2011-06-30 New Buy0.15%$26.59 - $32 $ 31.9810%180600
Joel Greenblatt 2011-06-30 New Buy0.03%$26.59 - $32 $ 31.9810%8393
Mario Gabelli 2011-06-30 Add 50%$26.59 - $32 $ 31.9810%63000
Premium More recent guru trades are included for Premium Members only!!
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Peter Lynch Chart ( What is Peter Lynch Charts )

Guru Investment Theses on International Speedway Corp

John Rogers of Ariel Investments Comments on International Speedway Corp - Aug 17, 2012

From his second quarter commentary:

International Speedway Corp. (ISCA) is the dominant motorsports entertainment company, operating 13 of the nation's best known racetracks, such as Daytona International Speedway and Talladega Superspeedway. The company's tracks feature more than 1 million grandstand seats and 530 premium suites, hosting millions of racing fans and more than one thousand events every year. Of the 36 races in NASCAR's premier Sprint Cup Series, 21 are run on International Speedway's tracks, including the Super Bowl of stock car racing, the Daytona 500. Founded in 1953 by Bill France, International Speedway is still controlled by the France family, who also owns NASCAR. This relationship ensures that the sanctioning body is working to strengthen the sport and the racetracks, so that the fans – and investors – win.

A Devoted Fan Base

Stock car racing has hit a rough patch over the last seven years, as persistent unemployment and high gas prices have taken their toll on attendance. Since many fans travel hundreds of miles to attend a race, and spend a lot of money to see their favorite drivers on the track, economic weakness directly impacts attendance. Once the economy recovers, we believe fans will return to the stands. Compounding the economic challenges, NASCAR made several missteps just before the recession as it sought to improve safety following the 2001 death of legendary driver Dale Earnhardt, Sr. In response to declining attendance and weak ratings, NASCAR has since reversed several earlier decisions and acknowledged that they had inadvertently taken some excitement out of the races. In spite of these challenges, NASCAR remains the second-most watched sport in the country, with a highly devoted fan base.

Ready for Primetime

Investors are currently focused on the prospects for NASCAR's next broadcast contract, which represents 45% of International Speedway's revenue. The last contract, which was signed in 2005, expires in 2014 and some analysts have pointed at lower ratings as a sign of negotiating weakness for NASCAR. Looking at recent broadcast deals for the NFL and many MLB teams, we believe the market for premier live sports content is stronger than ever. As digital video recorder penetration increases, media networks are focused on acquiring live content that can deliver viewers. This year's Daytona 500 – broadcast in primetime on a Monday due to rain during the originally scheduled Sunday timeslot – demonstrated that NASCAR can succeed in primetime, as the race had the secondhighest ratings of any NASCAR race in history.

Although a deal isn't expected until the end of next year, we see significant upside to current expectations.

Exploiting New Assets

Earlier this year, the Hollywood Casino at Kansas Speedway opened as a joint venture between International Speedway and Penn National Gaming. The casino, which overlooks turn 2 of the Kansas Speedway, highlights the valuable land International Speedway owns surrounding its tracks, and the added revenues that can come from exploiting these assets. Although we are not expecting another casino in the near future, the company has explored other possibilities near the Daytona International Speedway and we believe other long-term opportunities will be considered.

A Bargain Price

At current levels, we believe investors are anticipating an overly pessimistic outcome for the broadcast contract renewal, and little or no improvement in trends at NASCAR. We are confident that NASCAR's strong fan base and International Speedway's unique portfolio of tracks will prove to be a valuable combination. As of June 30, 2012, International Speedway was trading at $26.18, a 41% discount to our PMV of $44.55.

Check out John Rogers latest stock trades

Ratios

vs
industry
vs
history
P/E(ttm) 29.20
ISCA's P/E(ttm) is ranked higher than
71% of the 911 Companies
in the Global Leisure industry.

( Industry Median: 27.50 vs. ISCA: 29.20 )
ISCA' s 10-Year P/E(ttm) Range
Min: 6.54   Max: 202.64
Current: 29.2

6.54
202.64
P/B 1.10
ISCA's P/B is ranked higher than
83% of the 911 Companies
in the Global Leisure industry.

( Industry Median: 2.36 vs. ISCA: 1.10 )
ISCA' s 10-Year P/B Range
Min: 0.69   Max: 3.77
Current: 1.1

0.69
3.77
P/S 2.40
ISCA's P/S is ranked higher than
62% of the 911 Companies
in the Global Leisure industry.

( Industry Median: 1.62 vs. ISCA: 2.40 )
ISCA' s 10-Year P/S Range
Min: 1.07   Max: 4.99
Current: 2.4

1.07
4.99
PFCF 38.60
ISCA's PFCF is ranked higher than
73% of the 911 Companies
in the Global Leisure industry.

( Industry Median: 39.00 vs. ISCA: 38.60 )
ISCA' s 10-Year PFCF Range
Min: 6.27   Max: 268.47
Current: 38.6

6.27
268.47
EV-to-EBIT 21.06
ISCA's EV-to-EBIT is ranked higher than
75% of the 911 Companies
in the Global Leisure industry.

( Industry Median: 22.81 vs. ISCA: 21.06 )
ISCA' s 10-Year EV-to-EBIT Range
Min: 5.2   Max: 23.1
Current: 21.06

5.2
23.1
PEG 3.90
ISCA's PEG is ranked higher than
83% of the 911 Companies
in the Global Leisure industry.

( Industry Median: 9999.00 vs. ISCA: 3.90 )
ISCA' s 10-Year PEG Range
Min: 1.01   Max: 25.05
Current: 3.9

1.01
25.05
Shiller P/E 24.70
ISCA's Shiller P/E is ranked higher than
89% of the 911 Companies
in the Global Leisure industry.

( Industry Median: 9999.00 vs. ISCA: 24.70 )
ISCA' s 10-Year Shiller P/E Range
Min: 6.42   Max: 481.64
Current: 24.7

6.42
481.64
Current Ratio 1.85
ISCA's Current Ratio is ranked higher than
80% of the 834 Companies
in the Global Leisure industry.

( Industry Median: 1.29 vs. ISCA: 1.85 )
ISCA' s 10-Year Current Ratio Range
Min: 0.41   Max: 2.87
Current: 1.85

0.41
2.87
Quick Ratio 1.81
ISCA's Quick Ratio is ranked higher than
83% of the 834 Companies
in the Global Leisure industry.

( Industry Median: 1.15 vs. ISCA: 1.81 )
ISCA' s 10-Year Quick Ratio Range
Min: 0.4   Max: 2.84
Current: 1.81

0.4
2.84

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield 0.80
ISCA's Dividend Yield is ranked lower than
81% of the 560 Companies
in the Global Leisure industry.

( Industry Median: 1.87 vs. ISCA: 0.80 )
ISCA' s 10-Year Dividend Yield Range
Min: 0.1   Max: 0.85
Current: 0.8

0.1
0.85
Dividend Payout 0.22
ISCA's Dividend Payout is ranked higher than
91% of the 911 Companies
in the Global Leisure industry.

( Industry Median: 9999.00 vs. ISCA: 0.22 )
ISCA' s 10-Year Dividend Payout Range
Min: 0.12   Max: 0.86
Current: 0.22

0.12
0.86
Dividend growth (3y) 11.20
ISCA's Dividend growth (3y) is ranked higher than
77% of the 344 Companies
in the Global Leisure industry.

( Industry Median: 9.70 vs. ISCA: 11.20 )
ISCA' s 10-Year Dividend growth (3y) Range
Min: 0   Max: 26
Current: 11.2

0
26
Yield on cost (5-Year) 1.40
ISCA's Yield on cost (5-Year) is ranked lower than
65% of the 559 Companies
in the Global Leisure industry.

( Industry Median: 2.07 vs. ISCA: 1.40 )
ISCA' s 10-Year Yield on cost (5-Year) Range
Min: 0.18   Max: 1.49
Current: 1.4

0.18
1.49
Share Buyback Rate 1.20
ISCA's Share Buyback Rate is ranked higher than
91% of the 576 Companies
in the Global Leisure industry.

( Industry Median: -0.50 vs. ISCA: 1.20 )
ISCA' s 10-Year Share Buyback Rate Range
Min: 3   Max: -11.6
Current: 1.2

Valuation & Return

vs
industry
vs
history
Price/Tangible Book 1.50
ISCA's Price/Tangible Book is ranked higher than
83% of the 911 Companies
in the Global Leisure industry.

( Industry Median: 4.14 vs. ISCA: 1.50 )
ISCA' s 10-Year Price/Tangible Book Range
Min: 1.08   Max: 11.12
Current: 1.5

1.08
11.12
Price/DCF (Projected) 0.80
ISCA's Price/DCF (Projected) is ranked higher than
95% of the 911 Companies
in the Global Leisure industry.

( Industry Median: 9999.00 vs. ISCA: 0.80 )
ISCA' s 10-Year Price/DCF (Projected) Range
Min: 0.51   Max: 3.31
Current: 0.8

0.51
3.31
Price/Median PS Value 0.90
ISCA's Price/Median PS Value is ranked higher than
85% of the 911 Companies
in the Global Leisure industry.

( Industry Median: 1.21 vs. ISCA: 0.90 )
ISCA' s 10-Year Price/Median PS Value Range
Min: 0.5   Max: 4.04
Current: 0.9

0.5
4.04
Price/Peter Lynch Fair Value 4.60
ISCA's Price/Peter Lynch Fair Value is ranked higher than
88% of the 911 Companies
in the Global Leisure industry.

( Industry Median: 9999.00 vs. ISCA: 4.60 )
ISCA' s 10-Year Price/Peter Lynch Fair Value Range
Min: 0.76   Max: 5.92
Current: 4.6

0.76
5.92
Price/Graham Number 1.40
ISCA's Price/Graham Number is ranked higher than
83% of the 911 Companies
in the Global Leisure industry.

( Industry Median: 3.59 vs. ISCA: 1.40 )
ISCA' s 10-Year Price/Graham Number Range
Min: 0.61   Max: 4.99
Current: 1.4

0.61
4.99
Earnings Yield (Greenblatt) 4.70
ISCA's Earnings Yield (Greenblatt) is ranked higher than
67% of the 755 Companies
in the Global Leisure industry.

( Industry Median: 5.70 vs. ISCA: 4.70 )
ISCA' s 10-Year Earnings Yield (Greenblatt) Range
Min: 4.3   Max: 19.3
Current: 4.7

4.3
19.3
Forward Rate of Return (Yacktman) 11.55
ISCA's Forward Rate of Return (Yacktman) is ranked higher than
81% of the 630 Companies
in the Global Leisure industry.

( Industry Median: 5.33 vs. ISCA: 11.55 )
ISCA' s 10-Year Forward Rate of Return (Yacktman) Range
Min: -7.3   Max: 20.8
Current: 11.55

-7.3
20.8

Business Description

Industry: Travel & Leisure » Leisure
Compare:SIX, PCLN, CCL, RCL, FUN » details
Traded in other countries:ISCB.USA
International Speedway Corporation was incorporated in 1953 under the laws of the State of Florida under the name 'Bill France Racing, Inc.' and changed its name to 'Daytona International Speedway Corporation' in 1957. The Company is an owner of major motorsports entertainment facilities and promoter of motorsports themed entertainment activities in the United States. Its motorsports themed event operations consist principally of racing events at its major motorsports entertainment facilities. The Company currently owns and/or operates 13 of the nation's major motorsports entertainment facilities: Daytona International Speedway in Florida;Talladega Superspeedway in Alabama; Richmond International Raceway in Virginia; Michigan International Speedway in Michigan; Auto Club Speedway of Southern California(SM) in California; Kansas Speedway in Kansas; Chicagoland Speedway in Illinois; Darlington Raceway in South Carolina; Homestead-Miami Speedway(SM) in Florida; Martinsville Speedway in Virginia; Phoenix International Raceway in Arizona; Watkins Glen International in New York; and Route 66 RacewaySMin Illinois. The Company's business consists principally of promoting racing events at these major motorsports entertainment facilities, which, in total, currently have approximately 930,000 grandstand seats and 500 suites. The general nature of its business is a motorsports themed amusement enterprise, furnishing amusement to the public in the form of motorsports themed entertainment. Its motorsports themed event operations consist principally of racing events at its major motorsports entertainment facilities, which include providing catering, merchandise and food concessions at its motorsports entertainment facilities that host NASCAR Sprint Cup Series events except for catering and food concessions at Chicagoland Speedway ('Chicagoland') and Route 66 Raceway ('Route 66'). Its other operations include the Daytona 500 EXperience motorsports entertainment complex, MRN Radio, its 50.0 percent equity investment in the joint venture SMISC, LLC ('SMISC'), which conducts business through a wholly owned subsidiary Motorsports Authentics, LLC, and certain other activities. From time to time, it uses its track facilities for testing for teams, driving schools, riding experiences, car shows, auto fairs, concerts and settings for television commercials, print advertisements and motion pictures. It also rent 'show cars' for promotional events. The Company operates Talladega Municipal Airport, which is located adjacent to Talladega Superspeedway ('Talladega'). The Company owns property in Daytona Beach, Florida, upon which it conduct agricultural operations. Its events also compete with other racing events sanctioned by various racing bodies such as NASCAR, the American Sportbike Racing Association — Championship Cup Series, United States Auto Club, Sports Car Club of America, Grand American, Automobile Racing Club of America and others, many of whi
» More Articles for ISCA

Headlines

Articles On GuruFocus.com
Why This Motorsport Giant Might Be Tricky Business Feb 06 2014 
John Rogers of Ariel Funds' Feb Market Insight - In-Depth Perspective on the Current Market Environm Mar 15 2013 
John Rogers of Ariel Investments Comments on International Speedway Corp Aug 17 2012 
John Rogers Ariel Fund Second Quarter Report Aug 16 2012 
John Rogers Ariel Fund Second-Quarter Portfolio Analysis Aug 08 2012 
John Rogers : Sports-Related Stocks a Score Jun 21 2012 
ISCA, What's Not to Like About NASCAR Dec 02 2011 
International Speedway Corp. Reports Operating Results (10-Q) Oct 07 2010 
International Speedway Corp. (ISCA) Quick Review: Not for me! Oct 02 2010 
Dover Motorsports and Dover Downs Merger – Borderline Criminal Sep 29 2010 

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