| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | — | — | — | — | — | — | — | — | — | — | — | — |
| Sell | — | — | — | — | — | — | — | — | — | — | 2 | 1 |
| total | individual payouts | |
|---|---|---|
| 2028 | ‡‡‡‡ |
|
| 2027 | ‡‡‡‡‡ |
|
| 2026 | 2.04 |
—
—
—
—
|
| 2025 | 2.01 |
—
—
—
—
—
|
| 2024 | 1.00 |
—
—
—
—
—
|
| 2023 | 1.00 |
—
—
—
—
|
| 2022 | 1.00 |
—
—
—
—
—
|
| 2021 | 0.00 |
—
|
| 2020 | 0.10 |
—
|
| 2019 | 0.40 |
—
—
—
—
|
| 2018 | 0.40 |
—
—
—
—
|
| 2017 | 0.40 |
—
—
—
—
|
| 2016 | 0.20 |
—
—
|
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Cash | 137.59 | 164.38 | 142.47 | 136.45 |
| Receivables | 76.37 | 64.38 | 73.90 | 66.73 |
| Inventory | 15.26 | 16.41 | 17.95 | 17.55 |
| Other | — | — | — | — |
| 282.29 | 295.36 | 286.77 | 281.19 |
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Payables | 25.35 | 31.81 | 21.65 | 19.98 |
| ST’ Debt | 26.10 | 52.91 | 17.25 | 17.25 |
| Other | 1.66 | 34.64 | 105.17 | 160.16 |
| 349.22 | 325.20 | 363.18 | 415.52 |
| 10y | 5y | 3y | |
| Sales | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Cash Flow | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Earnings | ‡‡‡‡‡ | ‡‡‡ | ‡‡‡‡‡ |
| Book Value | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 507.32 | 510.26 | — | — |
—
|
| ’25 | 497.86 | 526.27 | 475.57 | 511.78 |
2,011.48
|
| ’24 | 488.90 | 486.40 | 468.02 | 495.70 |
1,939.01
|
| ’23 | 433.64 | 416.13 | 411.61 | 462.71 |
1,724.09
|
| ’22 | 401.64 | 422.24 | 414.44 | 425.47 |
1,663.79
|
| ’21 | 352.62 | 428.16 | 414.77 | 422.35 |
1,617.90
|
| ’20 | 377.39 | 108.47 | 353.18 | 343.41 |
1,182.45
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 139.83 | 157.94 | — | — |
—
|
| ’25 | 126.23 | 158.44 | 168.29 | 156.56 |
609.51
|
| ’24 | 126.46 | 142.54 | 131.04 | 148.23 |
548.26
|
| ’23 | 140.52 | 94.66 | 100.22 | 158.94 |
494.34
|
| ’22 | 157.47 | 120.20 | 139.79 | 124.77 |
542.22
|
| ’21 | 119.76 | 192.82 | 164.24 | 133.14 |
609.96
|
| ’20 | 47.88 | (104.30) | 141.97 | 127.24 |
212.79
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 22.60 | 18.16 | — | — |
—
|
| ’25 | 58.00 | 78.62 | 74.58 | 78.09 |
289.29
|
| ’24 | 28.38 | 62.01 | 37.66 | 121.73 |
249.79
|
| ’23 | (37.08) | (106.95) | (35.19) | 31.16 |
(148.07)
|
| ’22 | 118.52 | 57.77 | (128.78) | 54.92 |
102.43
|
| ’21 | 111.75 | 180.68 | 145.07 | 784.93 |
1,222.43
|
| ’20 | 17.09 | (114.79) | 129.88 | 122.68 |
154.87
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 0.73 | 0.67 | — | — |
—
|
| ’25 | 0.75 | 0.95 | 0.68 | 0.75 |
3.12
|
| ’24 | 0.68 | 0.59 | 0.48 | 0.76 |
2.53
|
| ’23 | 0.75 | 0.65 | 0.60 | 0.95 |
2.94
|
| ’22 | 0.77 | 0.26 | 0.83 | 1.49 |
3.36
|
| ’21 | (0.92) | 1.12 | 0.93 | 1.30 |
2.84
|
| ’20 | (2.18) | (1.01) | 0.56 | 0.39 |
(2.13)
|
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | 30.98 | 37.82 | 44.94 | 35.09 | — | — | — |
Low Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 55.84 | 54.63 | 63.29 | 64.25 | — | — | — |
High Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 7,850 | 9,385 | 9,300 | 9,500 | — | — | — |
Employees
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.21 | 0.18 | 0.21 | 0.21 | — | — | — |
Revenue/Emp
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1,663.79 | 1,724.09 | 1,939.01 | 2,011.48 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 64.62% | 63.67% | 61.62% | 62.40% | — | — | — |
Gross Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 434.88 | 380.76 | 328.21 | 402.32 | — | — | — |
EBT
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 26.14% | 22.08% | 16.93% | 20.00% | ‡‡‡ | ‡‡‡ | ‡‡‡ |
EBT Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 390.35 | 337.78 | 291.29 | 355.67 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Net Income
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 128.37 | 132.54 | 187.11 | 197.41 | — | — | — |
Depreciation
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 28.21 | 29.79 | 32.85 | 34.11 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue/Sh
|
| ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡ | 3.48 | 3.04 | 2.61 | 3.19 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Earnings/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 9.19 | 8.54 | 9.29 | 10.34 | ‡‡‡‡ | — | — |
Cash Flow/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (7.46) | (11.10) | (5.06) | (5.43) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Capex/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1.74 | (2.56) | 4.23 | 4.91 | — | — | — |
Free CF/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.55 | 4.21 | 5.20 | 5.64 | ‡‡‡‡ | — | — |
Book Value/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 58.98 | 57.88 | 59.03 | 58.96 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Shares
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡‡‡ | 11.66 | 17.63 | 17.72 | 19.36 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
PE Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1.45 | 1.79 | 1.41 | 1.82 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PS Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 74.63 | 12.67 | 8.90 | 10.99 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PB Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3.17 | 3.64 | 3.08 | 3.45 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
EV/Sales
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 51.49 | (42.42) | 23.91 | 23.98 | — | — | — |
EV/FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 542.22 | 494.34 | 548.26 | 609.51 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Op' Cash Flow
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (439.79) | (642.41) | (298.47) | (320.22) | ‡‡‡‡‡ | ‡‡‡‡‡ | — |
Capex
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 102.43 | (148.07) | 249.79 | 289.29 | ‡‡‡‡‡ | — | — |
FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (72.25) | (66.93) | (29.84) | (76.42) | — | — | — |
Working Cap'
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2,984.78 | 3,327.76 | 3,407.48 | 3,426.87 | — | — | — |
Total Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2,867.49 | 3,190.18 | 3,243.10 | 3,284.40 | — | — | — |
Net Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 32.24 | 243.89 | 306.83 | 332.28 | — | — | — |
Sh' Equity
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 6.34% | 4.82% | 3.85% | 4.58% | — | — | — |
ROA
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 13.82% | 10.17% | 10.01% | 10.32% | — | — | — |
ROIC
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 499.43% | 127.48% | 55.95% | 58.85% | — | — | — |
ROE
|
Red Rock Resorts (RRR), a dominant force in Las Vegas locals casinos, has demonstrated remarkable resilience through its 2016 IPO, COVID-19 shutdowns that cratered revenues by 36%, and a robust rebound capped by the 2023 Durango Resort opening. Revenue has grown at a 3.5% CAGR to a projected $2.06 billion by 2026, with efficiency soaring—revenue per employee up 57% post-pandemic via workforce optimization—while gross margins stabilize around 62%, supporting high fixed costs amid pricing power in the underserved locals market.
Profitability remains volatile with high operational leverage, EBT margins averaging 20% post-COVID versus pre-pandemic teens, but net income dipped 25% in 2024 to $291 million amid ballooning debt to $3.41 billion and eroding interest coverage. Free cash flow rebounded to $4.23 per share in 2024 after Durango capex, yet thin equity and negative working capital signal balance sheet strain, with ROIC at a middling 10%.
Trading near highs with reasonable 17.7x trailing PE and 23% consensus upside, RRR faces headwinds from insider selling, slowing growth forecasts (+4% revenue in 2025), competition, and recession risks amplifying its leverage. This analysis correlates metrics with historical cycles, urging caution—trim on strength, eye sub-15x PE entries—for long-term gaming survivors.
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