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Red Rock Resorts

RRR Nasdaq Casinos & Gaming Financials FY2016–FY2025

Red Rock Resorts' revenue rose 3.7% to $2.0 billion in fiscal 2025. Its operating margin was 29.7%, up from 29.3% a year earlier. Free cash flow was $290 million, up 9.9%. It paid out $200 million in dividends and buybacks, 69% of free cash flow. The diluted share count fell 1.0%.

Last close · Oct 23, 2026

$49.61

1.6%
Value it Compare
Revenue Total sales reported in the income statement.
$2.0B
3.7% vs prior year
Operating margin Operating income as a share of revenue.
29.7%
0.4 pts
Net income Profit after all expenses, interest and tax.
$188M
22.1%
Free cash flow Cash from operations minus capital spending.
$291M
9.9%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
14.7%
0.3 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$2.9B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
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What Red Rock Resorts does

No business description yet.

Legal name
RED ROCK RESORTS, INC.
Fiscal year ends
December 31, 2025
Latest annual report
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Accession · CIK
0001653653-26-000004
0001653653

Revenue and margins

Red Rock Resorts had $2.0B of revenue in fiscal 2025, up 3.7% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 13.1% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $291M in fiscal 2025, 14.4% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Red Rock Resorts returned $200M to shareholders in fiscal 2025, 69% of free cash flow. The diluted share count fell 1.0%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Red Rock Resorts yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

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Adds net cash of −$3.3B and divides by 102.6M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today — · peers 14.3x · sector 17.8x.

Balance sheet

Cash, debt and the ratios that show how comfortably Red Rock Resorts can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $275M$117M$138M$164M$143M
Debt incl. finance leases $2.9B$3.0B$3.3B$3.4B$3.4B
Net debt / EBITDA 4.6x4.2x4.6x4.3x4.1x
Debt / equity ———15.8x—
Interest coverage 3.9x4.3x3.1x2.5x3.0x
Current ratio 1.9x0.8x0.8x0.9x0.8x
Quick ratio 1.8x0.7x0.8x0.9x0.7x
Total assets $3.1B$3.3B$4.0B$4.0B$4.2B
Total liabilities $3.1B$3.3B$3.7B$3.7B$3.8B
Shareholders' equity $59.5M$43.8M$169M$215M$208M
Net debt (− = net cash) $2.6B$2.9B$3.2B$3.2B$3.3B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$3.0M

3 insiders

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Sep 1, 2026 Jeffrey T WelchEVP and Chief Legal Officer Sold 9,000 $55.88 $0.5M Form 4
Aug 12, 2026 Kord NicholsEVP & Chief Operating Officer Sold 9,791 $63.00 $0.6M Form 4
Aug 7, 2026 Scott KreegerPresident Sold 31,159 $61.78 $1.9M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✕ ✕ ✓
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✓ ✓ ✓
Current ratio rose ✓ ✓ ✕
Share count didn't rise ✓ ✕ ✓
Gross margin rose — — —
Revenue rose relative to assets ✕ ✕ ✓
F-score 6 / 85 / 87 / 8
Accruals ratio −8.7%−9.9%−10.3%
Altman Z'' 1.041.141.10

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Red Rock Resorts RRR $2.9B 3.7% 29.7% 14.4% 14.7% — 7
Churchill Downs CHDN $5.9B 7.0% 23.4% 23.9% 8.4% 14.3x 6 Compare →
Rush Street Interactive RSI $1.8B 22.8% 7.7% 14.5% — — — Compare →
Boyd Gaming BYD $5.4B 4.1% 18.3% 9.5% 13.5% 3.1x 6 Compare →
DraftKings DKNG $10.4B 27.0% −0.3% 10.7% −0.7% — 8 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $1.5B $1.6B $1.7B $1.9B $1.2B $1.6B $1.7B $1.7B $1.9B $2.0B
Operating income $310M $331M $372M $186M $88.6M $402M $561M $559M $569M $597M
Interest expense $140M $131M $143M $157M $129M $103M $130M $181M $229M $202M
Pretax income $164M $198M $243M −$8.5M −$60.5M $286M $435M $381M $328M $402M
Income tax $8.2M $135M $23.9M −$1.7M $114M −$69.3M $44.5M $43.0M $36.9M $46.6M
Net income $92.0M $35.4M $158M −$3.4M −$150M $242M $206M $176M $154M $188M
Diluted EPS $1.03 $0.42 $1.77 −$0.05 −$2.13 $2.84 $3.36 $2.94 $2.53 $3.12
Diluted shares 0.03B 0.12B 0.12B 0.07B 0.07B 0.12B 0.10B 0.10B 0.10B 0.10B
Cash flow
Cash from operations $346M $290M $346M $317M $213M $610M $542M $494M $548M $610M
Capital expenditure $162M $248M $579M $353M $58.5M $61.3M $329M $700M $284M $319M
Free cash flow $184M $41.5M −$233M −$36.6M $154M $549M $214M −$205M $264M $291M
Depreciation and amortization $157M $178M $180M $222M $231M $158M $128M $133M $187M $197M
Stock-based compensation $6.9M $7.9M $11.3M $16.8M $10.9M $12.7M $17.5M $19.7M $30.9M $32.1M
Acquisitions $304M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Share buybacks $0.0M $0.0M $0.0M $0.4M $0.0M $500M $142M $0.0M $3.9M $79.0M
Dividends paid $10.6M $27.0M $27.7M $27.9M $7.3M $204M $117M $58.6M $118M $121M
Dividends and buybacks $10.6M $27.0M $27.7M $28.3M $7.3M $704M $258M $58.6M $122M $200M
Balance sheet
Cash and short-term investments $134M $232M $115M $129M $121M $275M $117M $138M $164M $143M
Total debt $2.4B $2.6B $2.9B $3.0B $2.9B $2.9B $3.0B $3.3B $3.4B $3.4B
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $40.9M
Current assets $250M $342M $262M $282M $225M $379M $221M $282M $295M $287M
Current liabilities $247M $245M $334M $276M $200M $205M $293M $349M $325M $363M
Inventory $12.0M $12.6M $14.9M $17.8M $13.1M $11.7M $13.2M $15.3M $16.4M $17.9M
Property and equipment, net $2.4B $2.5B $3.0B $3.1B $2.9B $2.0B $2.2B $2.8B $2.8B $3.0B
Total assets $3.5B $3.6B $4.0B $4.1B $3.7B $3.1B $3.3B $4.0B $4.0B $4.2B
Total liabilities $2.9B $3.0B $3.2B $3.3B $3.1B $3.1B $3.3B $3.7B $3.7B $3.8B
Shareholders' equity $350M $379M $520M $501M $353M $59.5M $43.8M $169M $215M $208M
Margins
Operating margin 21.0% 20.2% 22.1% 10.0% 7.5% 24.8% 33.7% 32.4% 29.3% 29.7%
EBITDA margin 31.6% 31.0% 32.9% 22.0% 27.1% 34.6% 41.5% 40.1% 39.0% 39.5%
Net margin 6.2% 2.2% 9.4% −0.2% −12.7% 15.0% 12.4% 10.2% 7.9% 9.4%
FCF margin 12.5% 2.5% −13.9% −2.0% 13.1% 33.9% 12.8% −11.9% 13.6% 14.4%
Returns
Return on capital 10.7% 5.6% 10.2% 4.1% 2.0% 13.4% 18.2% 15.7% 14.5% 14.7%
Return on capital employed 10.4% 10.0% 10.6% 5.0% 2.4% 12.4% 18.8% 16.8% 15.5% 15.9%
Return on equity 20.4% 9.7% 35.1% −0.7% −35.3% 117.4% — — — 88.8%
Return on assets 2.9% 1.0% 4.1% −0.1% −3.8% 7.0% 6.3% 4.8% 3.9% 4.6%
Growth
Revenue growth 9.1% 11.3% 2.4% 10.4% −36.3% 36.8% 2.8% 3.6% 12.5% 3.7%
Net income growth −33.2% −61.5% 344.7% −102.1% — — −15.1% −14.3% −12.5% 22.1%
EPS growth −32.7% −59.2% 321.4% −102.8% — — 18.3% −12.5% −14.0% 23.3%
FCF growth −16.2% −77.4% −661.7% — — 255.6% −61.1% −196.0% — 9.9%
Share count change 246.7% 238.1% 0.8% −40.5% 1.4% 65.1% −10.1% −1.4% 0.4% −1.0%
Financial health
Net debt / EBITDA 4.9x 4.7x 5.0x 7.1x 8.7x 4.6x 4.2x 4.6x 4.3x 4.1x
Debt / equity 6.9x 6.9x 5.5x 6.1x 8.2x — — — 15.8x —
Interest coverage 2.2x 2.5x 2.6x 1.2x 0.7x 3.9x 4.3x 3.1x 2.5x 3.0x
Current ratio 1.0x 1.4x 0.8x 1.0x 1.1x 1.9x 0.8x 0.8x 0.9x 0.8x
Quick ratio 1.0x 1.3x 0.7x 1.0x 1.1x 1.8x 0.7x 0.8x 0.9x 0.7x
Capital allocation
Capex / revenue 11.0% 15.1% 34.5% 19.0% 5.0% 3.8% 19.8% 40.6% 14.6% 15.9%
Stock comp / revenue 0.5% 0.5% 0.7% 0.9% 0.9% 0.8% 1.1% 1.1% 1.6% 1.6%
Payouts / FCF 5.8% 65.0% — — 4.7% 128.3% 120.9% — 46.3% 68.8%
Quality scores
Piotroski F-score — 5.0 4.0 5.0 4.0 6.0 6.0 6.0 5.0 7.0
Altman Z'' 0.8 1.0 0.9 0.7 0.4 1.2 1.0 1.0 1.1 1.1
Accruals ratio −7.9% −7.1% −4.9% −7.9% −9.3% −10.7% −10.4% −8.7% −9.9% −10.3%

Source: SEC EDGAR XBRL filings (CIK 0001653653). Data updated October 20, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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