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34.56 (1y: +47%)
Market Cap 1.58 B P/E(ttm) 31.20
Enterprise Value 1.74 B P/B 1.20
ISCA- NAS (USA)
International Speedway Corporation
  • Currently 1/5
Business Predictability Rank: 1-Star (On Watch)
Back Testing Results:
Average gain of all 1-Star stocks: 1.1% per year.
% of Stocks that are in still loss if held for 10yrs: 45%.
Read more:
What is Predictability Rank?
Performances of real portfolio
Top Ranked Predictable Companies
$34.56
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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 : 6/10

vs
industry		 vs
history
Cash to Debt 0.283
NAS:ISCA's Cash to Debt is ranked lower than
71% of the 489 Companies
in the Global Leisure industry.

( Industry Median: 1.01 vs. NAS:ISCA: 0.283 )
NAS:ISCA' s 10-Year Cash to Debt Range
Min: 0.08   Max: 0.73
Current: 0.28
0.08
0.73
Equity to Asset 0.49
NAS:ISCA's Equity to Asset is ranked higher than
51% of the 489 Companies
in the Global Leisure industry.

( Industry Median: 0.48 vs. NAS:ISCA: 0.49 )
NAS:ISCA' s 10-Year Equity to Asset Range
Min: 0.16   Max: 0.49
Current: 0.49
0.16
0.49
Interest Coverage 7.8
NAS:ISCA's Interest Coverage is ranked higher than
53% of the 489 Companies
in the Global Leisure industry.

( Industry Median: 6.50 vs. NAS:ISCA: 7.8 )
NAS:ISCA' s 10-Year Interest Coverage Range
Min: 5   Max: No Debt
Current: 7.8
F-Score: 6
Z-Score: 2.31
M-Score: -2.78
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 : 5/10

vs
industry		 vs
history
Operating margin (%) 17.10
NAS:ISCA's Operating margin (%) is ranked higher than
76% of the 489 Companies
in the Global Leisure industry.

( Industry Median: 7.50 vs. NAS:ISCA: 17.10 )
NAS:ISCA' s 10-Year Operating margin (%) Range
Min: 17.1   Max: 35.8
Current: 17.1
17.1
35.8
Net-margin (%) 8.9
NAS:ISCA's Net-margin (%) is ranked higher than
66% of the 489 Companies
in the Global Leisure industry.

( Industry Median: 4.80 vs. NAS:ISCA: 8.9 )
NAS:ISCA' s 10-Year Net-margin (%) Range
Min: -74.6   Max: 24.1
Current: 8.9
-74.6
24.1
ROE (%) 4.4
NAS:ISCA's ROE (%) is ranked lower than
51% of the 489 Companies
in the Global Leisure industry.

( Industry Median: 4.50 vs. NAS:ISCA: 4.4 )
NAS:ISCA' s 10-Year ROE (%) Range
Min: -66   Max: 17.7
Current: 4.4
-66
17.7
ROA (%) 2.8
NAS:ISCA's ROA (%) is ranked higher than
50% of the 489 Companies
in the Global Leisure industry.

( Industry Median: 2.70 vs. NAS:ISCA: 2.8 )
NAS:ISCA' s 10-Year ROA (%) Range
Min: -35.6   Max: 9.7
Current: 2.8
-35.6
9.7
ROC (Joel Greenblatt) (%) 7.90
NAS:ISCA's ROC (Joel Greenblatt) (%) is ranked higher than
50% of the 489 Companies
in the Global Leisure industry.

( Industry Median: 7.90 vs. NAS:ISCA: 7.90 )
NAS:ISCA' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: 7.9   Max: 26.9
Current: 7.9
7.9
26.9
Revenue Growth (%) -1.9
NAS:ISCA's Revenue Growth (%) is ranked lower than
81% of the 489 Companies
in the Global Leisure industry.

( Industry Median: 0.00 vs. NAS:ISCA: -1.9 )
NAS:ISCA' s 10-Year Revenue Growth (%) Range
Min: -4.4   Max: 12.7
Current: -1.9
-4.4
12.7
EBITDA Growth (%) -3.5
NAS:ISCA's EBITDA Growth (%) is ranked lower than
87% of the 489 Companies
in the Global Leisure industry.

( Industry Median: 0.00 vs. NAS:ISCA: -3.5 )
NAS:ISCA' s 10-Year EBITDA Growth (%) Range
Min: -9.6   Max: 14.4
Current: -3.5
-9.6
14.4
EPS Growth (%) 70.4
NAS:ISCA's EPS Growth (%) is ranked higher than
98% of the 489 Companies
in the Global Leisure industry.

( Industry Median: 0.00 vs. NAS:ISCA: 70.4 )
NAS:ISCA' s 10-Year EPS Growth (%) Range
Min: -49.7   Max: 70.4
Current: 70.4
-49.7
70.4
» NAS:ISCA's 10-Y Financials

Financials


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

» Details

Guru Trades
Q2 2012

ISCA Guru Trades in Q2 2012

John Rogers 2,177,135 sh (+374.16%)
Jean-Marie Eveillard 441,276 sh (unchged)
Mario Gabelli 70,000 sh (unchged)
Meridian Funds 430,700 sh (unchged)
David Dreman 1,303,506 sh (-1.41%)
Chuck Royce 890,500 sh (-9.62%)
Joel Greenblatt 30,592 sh (-40.66%)
Jim Simons 14,966 sh (-45.68%)
» More
Q3 2012

ISCA Guru Trades in Q3 2012

Charles Brandes 11,690 sh (New)
John Rogers 3,691,715 sh (+69.57%)
Joel Greenblatt 46,546 sh (+52.15%)
Mario Gabelli 74,000 sh (+5.71%)
Jean-Marie Eveillard 441,276 sh (unchged)
Jim Simons Sold Out
David Dreman 1,272,513 sh (-2.38%)
Meridian Funds 361,700 sh (-16.02%)
Chuck Royce 601,070 sh (-32.5%)
» More
Q4 2012

ISCA Guru Trades in Q4 2012

John Rogers 4,971,140 sh (+34.66%)
Charles Brandes 12,204 sh (+4.4%)
Mario Gabelli 75,000 sh (+1.35%)
Jean-Marie Eveillard 441,276 sh (unchged)
Joel Greenblatt 43,057 sh (-7.5%)
Meridian Funds 242,000 sh (-33.09%)
David Dreman 815,966 sh (-35.88%)
Chuck Royce 104,666 sh (-82.59%)
» More
Q1 2013

ISCA Guru Trades in Q1 2013

Charles Brandes 14,374 sh (+17.78%)
John Rogers 5,346,876 sh (+7.56%)
Mario Gabelli 75,000 sh (unchged)
David Dreman Sold Out
Meridian Funds Sold Out
Jean-Marie Eveillard Sold Out
Chuck Royce Sold Out
Joel Greenblatt 27,945 sh (-35.1%)
» More
» Details

Insider Trades

Latest Guru Trades with NAS:ISCA

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
David Dreman 2013-03-31 Sold Out 0.65%$26.45 - $32.68 $ 34.5616%0
Meridian Funds 2013-03-31 Sold Out 0.26%$26.45 - $32.68 $ 34.5616%0
Jean-Marie Eveillard 2013-03-31 Sold Out 0.04%$26.45 - $32.68 $ 34.5616%0
Joel Greenblatt 2013-03-31 Reduce -35.1%0.02%$26.45 - $32.68 $ 34.5616%27945
David Dreman 2012-12-31 Reduce -35.88%0.32%$24.54 - $28.45 $ 34.5632%815966
Meridian Funds 2012-12-31 Reduce -33.09%0.12%$24.54 - $28.45 $ 34.5632%242000
Joel Greenblatt 2012-09-30 Add 52.15%0.03%$24.73 - $28.88 $ 34.5630%46546
Charles Brandes 2012-09-30 New Buy$24.73 - $28.88 $ 34.5630%11690
Joel Greenblatt 2012-06-30 Reduce -40.66%0.05%$23.42 - $28.56 $ 34.5635%30592
Meridian Funds 2012-03-31 Add 27.77%0.08%$25.16 - $27.38 $ 34.5642%430700
Joel Greenblatt 2012-03-31 Add 62.17%0.05%$25.16 - $27.38 $ 34.5642%51554
Jean-Marie Eveillard 2012-03-31 Reduce -38.06%0.03%$25.16 - $27.38 $ 34.5642%441276
Meridian Funds 2011-09-30 Add 86.66%0.13%$21.81 - $30.77 $ 34.5635%337100
Joel Greenblatt 2011-09-30 Add 224.45%0.07%$21.81 - $30.77 $ 34.5635%27231
Meridian Funds 2011-06-30 New Buy0.15%$26.59 - $32 $ 34.5618%180600
Joel Greenblatt 2011-06-30 New Buy0.03%$26.59 - $32 $ 34.5618%8393
Mario Gabelli 2011-06-30 Add 50%$26.59 - $32 $ 34.5618%63000
Jean-Marie Eveillard 2011-03-31 Add 54.43%0.03%$26.17 - $30.03 $ 34.5622%524496
Mario Gabelli 2011-03-31 Reduce -23.64%$26.17 - $30.03 $ 34.5622%42000
Mario Gabelli 2010-12-31 Add 34.15%$22.61 - $26.76 $ 34.5643%55000
Premium More recent guru trades are included for Premium Members only!!

Guru Investment Theses on International Speedway Corporation

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

Top Ranked Articles about International Speedway Corporation

John Rogers of Ariel Investments Comments on International Speedway Corp
August 17, 2012
From his second quarter commentary: Read more...

Ratios

vs
industry		 vs
history
P/E(ttm) 31.10
ISCA's P/E(ttm) is ranked lower than
69% of the 371 Companies
in the Global Leisure industry.

( Industry Median: 21.20 vs. ISCA: 31.10 )
ISCA' s 10-Year P/E(ttm) Range
Min: 6.54   Max: 208.43
Current: 31.1
6.54
208.43
P/B 1.20
ISCA's P/B is ranked higher than
58% of the 464 Companies
in the Global Leisure industry.

( Industry Median: 1.42 vs. ISCA: 1.20 )
ISCA' s 10-Year P/B Range
Min: 0.69   Max: 4.43
Current: 1.2
0.69
4.43
P/S 2.60
ISCA's P/S is ranked lower than
67% of the 488 Companies
in the Global Leisure industry.

( Industry Median: 1.50 vs. ISCA: 2.60 )
ISCA' s 10-Year P/S Range
Min: 1.07   Max: 6.16
Current: 2.6
1.07
6.16
PFCF 20.20
ISCA's PFCF is ranked lower than
52% of the 324 Companies
in the Global Leisure industry.

( Industry Median: 19.71 vs. ISCA: 20.20 )
ISCA' s 10-Year PFCF Range
Min: 6.27   Max: 321.43
Current: 20.2
6.27
321.43
EV-to-EBIT 16.9
ISCA's EV-to-EBIT is ranked higher than
50% of the 392 Companies
in the Global Leisure industry.

( Industry Median: 16.90 vs. ISCA: 16.9 )
ISCA' s 10-Year EV-to-EBIT Range
Min: 5.2   Max: 34.9
Current: 16.9
5.2
34.9
Shiller P/E 24.2
ISCA's Shiller P/E is ranked lower than
100% of the Companies
in the Global Leisure industry.

( Industry Median: vs. ISCA: 24.2 )
ISCA' s 10-Year Shiller P/E Range
Min: 6.39   Max: 756.86
Current: 24.2
6.39
756.86

Dividend & Buy Back

vs
industry		 vs
history
Dividend Yield 0.60
ISCA's Dividend Yield is ranked lower than
90% of the 289 Companies
in the Global Leisure industry.

( Industry Median: 1.97 vs. ISCA: 0.60 )
ISCA' s 10-Year Dividend Yield Range
Min: 0.1   Max: 0.85
Current: 0.6
0.1
0.85
Dividend Payout 0.1822
ISCA's Dividend Payout is ranked lower than
458715% of the 218 Companies
in the Global Leisure industry.

( Industry Median: 0.40 vs. ISCA: 0.1822 )
ISCA' s 10-Year Dividend Payout Range
Min: 0.02   Max: 1
Current: 0.18
0.02
1
Dividend growth (3y) 9.3
ISCA's Dividend growth (3y) is ranked lower than
59% of the 63 Companies
in the Global Leisure industry.

( Industry Median: 10.70 vs. ISCA: 9.3 )
ISCA' s 10-Year Dividend growth (3y) Range
Min: 0   Max: 18.9
Current: 9.3
0
18.9
Yield on cost (5-Year) 1.14
ISCA's Yield on cost (5-Year) is ranked lower than
72% of the 292 Companies
in the Global Leisure industry.

( Industry Median: 1.97 vs. ISCA: 1.14 )
ISCA' s 10-Year Yield on cost (5-Year) Range
Min: 0.19   Max: 1.61
Current: 1.14
0.19
1.61
Share Buyback Rate 1.2
ISCA's Share Buyback Rate is ranked higher than
64% of the 61 Companies
in the Global Leisure industry.

( Industry Median: 0.80 vs. ISCA: 1.2 )
ISCA' s 10-Year Share Buyback Rate Range
Min: 2.3   Max: -3.4
Current: 1.2

Valuation & Return

vs
industry		 vs
history
Price/Net Current Asset Value 96.9
ISCA's Price/Net Current Asset Value is ranked lower than
84% of the 303 Companies
in the Global Leisure industry.

( Industry Median: 19.00 vs. ISCA: 96.9 )
ISCA' s 10-Year Price/Net Current Asset Value Range
Min: 40.8   Max: 375
Current: 96.9
40.8
375
Price/Tangible Book 1.7
ISCA's Price/Tangible Book is ranked lower than
52% of the 421 Companies
in the Global Leisure industry.

( Industry Median: 1.70 vs. ISCA: 1.7 )
ISCA' s 10-Year Price/Tangible Book Range
Min: 1.3   Max: 7.7
Current: 1.7
1.3
7.7
Price/DCF (Projected) 0.8
ISCA's Price/DCF (Projected) is ranked higher than
73% of the 176 Companies
in the Global Leisure industry.

( Industry Median: 1.40 vs. ISCA: 0.8 )
ISCA' s 10-Year Price/DCF (Projected) Range
Min: 0.6   Max: 2.3
Current: 0.8
0.6
2.3
Price/Median PS Value 0.8
ISCA's Price/Median PS Value is ranked higher than
71% of the 456 Companies
in the Global Leisure industry.

( Industry Median: 1.10 vs. ISCA: 0.8 )
ISCA' s 10-Year Price/Median PS Value Range
Min: 0.5   Max: 1.3
Current: 0.8
0.5
1.3
Price/Graham Number 1.5
ISCA's Price/Graham Number is ranked lower than
53% of the 326 Companies
in the Global Leisure industry.

( Industry Median: 1.40 vs. ISCA: 1.5 )
ISCA' s 10-Year Price/Graham Number Range
Min: 0.8   Max: 3.7
Current: 1.5
0.8
3.7
Earnings Yield (Greenblatt) 5.90
ISCA's Earnings Yield (Greenblatt) is ranked lower than
51% of the 397 Companies
in the Global Leisure industry.

( Industry Median: 5.90 vs. ISCA: 5.90 )
ISCA' s 10-Year Earnings Yield (Greenblatt) Range
Min: 2.9   Max: 19.3
Current: 5.9
2.9
19.3
Forward Rate of Return (Yacktman) -4.32
ISCA's Forward Rate of Return (Yacktman) is ranked lower than
671140% of the 149 Companies
in the Global Leisure industry.

( Industry Median: 9.64 vs. ISCA: -4.32 )
ISCA' s 10-Year Forward Rate of Return (Yacktman) Range
Min: -3.4   Max: 20.7
Current: -4.32
-3.4
20.7

Business Description

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
Company Website
SEC Reports
Industry: Leisure
Compare:SIX, PCLN, CCL, RCL, FUN
Traded in other countries:ISCB.USA
» More Articles for ISCA

Headlines

Articles On GuruFocus.com
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 
Value Idea Contest Winners Announcement Apr 12 2012 
ISCA, What's Not to Like About NASCAR Dec 02 2011 
Chuck Akre Value Investing Conference Talk: 'An Investor's Odyssey: The Search for Outstanding Inves Nov 02 2011 
Meridian Funds Buys AAP, DENN, SWY, MDP, SBAC, FDO, GMT, HURN Oct 31 2011 
Meridian Fund Annual Report, Commentary on ARCO, NSC, GMT, ICON, COST, Others Sep 07 2011 

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