The Marcus Corporation is an American publicly traded company headquartered in Milwaukee, Wisconsin. The company operates two principal divisions: Marcus Theatres and Marcus Hotels and Resorts.3 Its shares trade on NYSE under the symbol MCS.1Wikipedia text CC BY-SA 4.0
The Marcus Corporation is an American publicly traded company headquartered in Milwaukee, Wisconsin. The company operates two principal divisions: Marcus Theatres and Marcus Hotels and Resorts.3
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Where each dollar of operating cash went, fiscal 2025
Capital spending
Capital spending90¢$83.2M
Dividends paid10¢$9.2M
Out of $84.2M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.6
Financial statements
Revenue10111213146$758.5M in 2025+7% since 2018Operating income10111213146$17.1M in 2025−79% since 2018Net income10111213146$12.7M in 2025−76% since 2018
Revenue151617$231.7M in Q2 FY2026+56% since Q1 FY2025Operating income151617$27.1M in Q2 FY2026Net income151617$15.8M in Q2 FY2026
Total assets10111213146$1.0B in 2025+3% since 2018Shareholders’ equity1810111213146$457.4M in 2025−7% since 2018Cash1810111213146$23.4M in 2025+37% since 2018Long-term debt18101213146$159.0M in 2025−31% since 2018
Total assets171516$999.5M in Q2 FY2026−4% since Q3 FY2024Shareholders’ equity1719201516$456.9M in Q2 FY2026−2% since Q3 FY2024Cash1719201516$26.3M in Q2 FY2026−35% since Q3 FY2024Long-term debt1719201516$149.1M in Q2 FY2026+0% since Q3 FY2024
Cash from operations10111213146$84.2M in 2025−39% since 2018Capital spending10111213146$83.2M in 2025+42% since 2018Free cash flow10111213146$989.0K in 2025−99% since 2018Dividends paid10111213146$9.2M in 2025−44% since 2018
Cash from operations15-$15.2M in Q1 FY2026−57% since Q1 FY2025Capital spending15$6.6M in Q1 FY2026−71% since Q1 FY2025Free cash flow15-$21.9M in Q1 FY2026−63% since Q1 FY2025Dividends paid15$2.4M in Q1 FY2026+11% since Q1 FY2025
Marcus Corporation sits at the top of its group. 58 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
ORBIS INVESTMENT MANAGEMENT LTDFiled SCHEDULE 13G/A on Marcus Corporation, latest Aug 14, 2026 (6 filings since May 15, 2025)
Andrew Eliot Porter Filed SCHEDULE 13G on Marcus Corporation, latest Apr 28, 2026
Diane M. GershowitzFiled SCHEDULE 13G/A on Marcus Corporation, latest Apr 8, 2026 (7 filings since Feb 11, 2022)
Gregory S. MarcusFiled SCHEDULE 13G on Marcus Corporation, latest Apr 8, 2026
Stephen H. MarcusFiled SCHEDULE 13G/A on Marcus Corporation, latest Apr 8, 2026 (5 filings since Feb 11, 2022)
VANGUARD GROUP INCFiled SCHEDULE 13G/A on Marcus Corporation, latest Mar 27, 2026 (6 filings since Feb 10, 2022)
GAMCO InvestorsFiled SCHEDULE 13D on Marcus Corporation, latest Dec 9, 2025 (2 filings since May 15, 2024)
BlackRockFiled SCHEDULE 13G/A on Marcus Corporation, latest Apr 24, 2025 (7 filings since Jan 25, 2022)
LAZARD ASSET MANAGEMENT LLCFiled SCHEDULE 13G on Marcus Corporation, latest Nov 14, 2024 (4 filings since Feb 10, 2022)
Bank of MontrealFiled SC 13G/A on Marcus Corporation, latest Nov 13, 2024 (2 filings since Feb 9, 2024)
KLCM Advisors, Inc.Filed SCHEDULE 13G on Marcus Corporation, latest Nov 6, 2024
Marcus CorporationMilwaukee, Wisconsin, United States
B & G Exchange I, LLC Subsidiary · Wisconsin, United States
B&G Realty, LLC Subsidiary · Wisconsin, United States
Bullseye Investors, LLC Subsidiary · Delaware, United States
Café Refreshments, LLC Subsidiary · Wisconsin, United States
Family Entertainment, LLC Subsidiary · Wisconsin, United States
Grand Geneva, LLC Subsidiary · Wisconsin, United States
Hospitalitas Indemnity, Inc. Subsidiary · Delaware, United States
Igloo Acquisition Owner, LLC Subsidiary · Delaware, United States
Igloo Acquisition, LLC Subsidiary · Delaware, United States
International Exports, LLC Subsidiary · Wisconsin, United States
Marc MKE, LLC Subsidiary · Wisconsin, United States
Marcus Bloomington, LLC Subsidiary · Minnesota, United States
Marcus Bullseye Mgmt, LLC Subsidiary · Wisconsin, United States
Marcus Bullseye, LLC Subsidiary · Wisconsin, United States
Marcus Cinemas of Minnesota and Illinois, LLC Subsidiary · Illinois, United States
Marcus Cinemas of Ohio, LLC Subsidiary · Wisconsin, United States
Marcus Cinemas of Wisconsin, LLC Subsidiary · Wisconsin, United States
Marcus Consid, LLC Subsidiary · Wisconsin, United States
Marcus Development, LLC Subsidiary · Wisconsin, United States
Marcus Edgewater, LLC Subsidiary · Wisconsin, United States
Marcus Hotels Hospitality, LLC Subsidiary · Wisconsin, United States
Marcus Hotels, Inc. Subsidiary · Wisconsin, United States
Marcus Lincoln Hotel, LLC Subsidiary · Delaware, United States
Marcus Management Las Vegas, LLC Subsidiary · Nevada, United States
Marcus Midwest, LLC Subsidiary · Wisconsin, United States
and 32 more
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; subsidiaries, stakes and holdings from Wikidata (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Marcus Corporation reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
We own the real estate of a substantial portion of our facilities, including, as of December 31, 2025, The Pfister Hotel, the Hilton Milwaukee, the Hilton Madison at Monona Terrace, the Grand Geneva Resort & Spa, Saint Kate – The Arts Hotel, The Lincoln Marriott Cornhusker Hotel, and the majority of our theatres. We lease the remainder of our facilities. As of December 31, 2025, we also managed two hotels for joint ventures in which we have a minority interest and 8 hotels, resorts, theatres and other properties that are owned by a third party. Additionally, we own surplus land and several former operating properties. All of our properties are suitably maintained and adequately utilized to cover the respective business segment served.
Our owned, leased and managed properties are summarized, as of December 31, 2025, in the following table:
The rest of Item 2
Business Segment · Total Number ofFacilities inOperation · Owned(1) · Leased fromUnrelatedParties(2) · ManagedforRelatedParties · Managed forUnrelated Parties
Theatres:
Movie Theatres · 78 · 43 · 34 · — · 1
Family Entertainment Center · 1 · 1 · — · — · —
Hotels and Resorts:
Hotels · 14 · 5 · 1 · 2 · 6
Resorts · 1 · 1 · — · — · —
Other Properties(3) · 3 · — · 2 · — · 1
Total · 97 · 50 · 37 · 2 · 8
(1)Four of the movie theatres are on land leased from unrelated parties.
(2)The 34 theatres leased from unrelated parties have a total of 368 screens. One UltraScreen adjacent to an owned theatre is leased from an unrelated party.
(3)Includes a vacation ownership development adjacent to the Grand Geneva Resort & Spa owned by Orange Lake Resort & Country Club of Orlando, Florida, for which we provide hospitality management services and the SafeHouse restaurant located in Milwaukee, Wisconsin which we lease from an unrelated party and is managed by our hotels and resorts division. Also includes retail food outlets and a bar in the building complex adjacent to our Saint Kate - The Arts Hotel and corporate office that we lease from an unrelated third party and are managed by our hotels and resorts division.
Certain of the individual properties or facilities identified above are subject to purchase money or construction mortgages or commercial lease financing arrangements, but we do not consider these encumbrances, individually or in the aggregate, to be material.
All of our operating property leases expire on various dates after the end of fiscal 2026 (assuming we exercise all of our renewal and extension options).
Marcus Corporation was founded on November 1, 1935 by Ben Marcus with the purchase of a single movie theatre screen in Ripon, Wisconsin. This movie theatre remains with Marcus as a first run theater, the Campus Cinema (near Ripon College), with titles appealing to both adults and families. It was also a restaurant franchisee, operating the Marc's Big Boy affiliate of the Big Boy Restaurants chain and serving as the Milwaukee area franchise for Kentucky Fried Chicken. Marcus sold the KFC franchises by 1992 and closed the last Marc's in 1995.
One of the company's principal assets, Baymont Inn & Suites, was sold to La Quinta Corporation in 2003. Marcus Cable, which merged in 1998 with Charter Communications, was founded by a member of the Marcus family, but held no direct corporate connection to Marcus Corporation itself.
Feb 27, 2025Reported quarterly or annual results65
Oct 31, 2024Reported quarterly or annual results67
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
377 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 43 major events, 220 insider forms, 54 large holders, 40 other. The latest 20:
20 open-market trades by officers, directors and large owners since October 2021: 3 buys and 17 sales. Grants, option exercises and gifts are left out.
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).
SEC filer profile
How Marcus Corporation is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
From the cover page of the 10-K filed Feb 27, 2026 (Section 12(b) of the Exchange Act).21
Risk factors and legal proceedings
The risks Marcus Corporation names in Item 1A of its 10-K filed Feb 27, 2026: 29 risks under these headings, as written.21
Operational Risks
A pandemic or epidemic may have a material adverse effect on our theatre and hotels and resorts businesses, results of operations, liquidity, cash flows, financial condition, access to credit markets and ability to service our existing and future indebtedness, and future pandemics or epidemics may have similar material adverse effects in the future.
The lack of both the quantity and audience appeal of motion pictures may adversely affect our financial results.
Our financial results may be adversely impacted by unique factors affecting the theatre exhibition industry, such as the shrinking video release window, the piracy of feature films and the increasing use of alternative film distribution channels and other competing forms of entertainment.
A deterioration in relationships with or consolidation of film distributors could adversely affect our ability to obtain commercially successful films or increase our costs to obtain such films.
The relative industry supply of available rooms at comparable lodging facilities may adversely affect our financial results.
Each of our business segments and properties experience ongoing intense competition.
Changes in the availability of and the cost of labor could adversely affect our business.
Supply chain disruptions may negatively impact our operating results.
Adverse weather conditions, particularly during the winter in the Midwest and in our other markets, may adversely affect our financial results.
Our results are seasonal, resulting in unpredictable and varied quarterly results.
Our properties are subject to risks relating to acts of God, terrorist activity and war and any such event may adversely affect our financial results.
The other 18 risks
If the amount of sales made through third-party internet travel intermediaries increases significantly, consumer loyalty to our hotels could decrease and our revenues could fall.
Financial Risks
Adverse economic conditions in our markets may adversely affect our financial results.
Our businesses are heavily capital intensive and preopening and start-up costs, increasing depreciation expenses and impairment charges may adversely affect our financial results.
Adverse economic conditions, including disruptions in the financial markets, may adversely affect our ability to obtain financing on reasonable and acceptable terms, if at all, and impact our ability to achieve certain of our growth objectives.
We may not be able to obtain capital when desired on favorable terms, if at all, and we may not be able to obtain capital or complete acquisitions through the use of equity or without dilution to our shareholders.
Our ability to pay dividends or repurchase common stock may be limited or otherwise restricted.
Servicing our debt requires a significant amount of cash, and we may not have sufficient cash flow from our business to repay our debt.
Strategic Risks
We may not achieve the expected benefits and performance of our strategic initiatives and acquisitions.
Our ability to identify suitable properties to acquire, develop and manage will directly impact our ability to achieve certain of our growth objectives.
Our ability to identify suitable joint venture partners or raise investment funds to acquire, develop and manage hotels and resorts will directly impact our ability to achieve certain of our growth objectives.
Investing through partnerships or joint ventures decreases our ability to manage risk.
Legal, Regulatory and Compliance Risks
Recalls of food products and associated costs could adversely affect our reputation and financial condition.
We are subject to substantial government regulation, which could entail significant cost.
We are subject to complex taxation and could be subject to changes in our tax rates, the adoption of new tax legislation or exposure to additional tax liabilities.
General Risks
Our business and operations could be negatively affected if we become subject to any securities litigation or shareholder activism, which could cause us to incur significant expense, hinder execution of our business strategy and impact our stock price.
Our stock price may be volatile, which could result in securities class action litigation against us.
Certain provisions of our articles of incorporation and bylaws and of Wisconsin law could prevent a takeover that shareholders consider favorable and could also reduce the market price of our stock.
We rely on our information systems to conduct our business, and any failure to protect our information systems and other confidential information against cyber attacks or other information security breaches or any failure or interruption to the availability of our information systems could have a material adverse effect on our business.
