Red Rock Resorts, Inc.
RRR Consumer Cyclical Resorts & Casinos
Red Rock Resorts, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.0 billion, up 3.74% from fiscal 2024. In the quarter to June 2026, revenue fell 3.04%, EPS fell 29.2%, free cash flow fell 76.9% and total debt rose 6.30%, each against the same quarter a year earlier. Revenue growth for five consecutive years.
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Red Rock Resorts, Inc. (RRR) Altman Z-score
Red Rock Resorts, Inc.'s Altman Z-score for fiscal 2025 is 1.58, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 1.58 | 0.14 |
| FY2024 | 1.44 | 0.00 |
| FY2023 | 1.44 | (0.11) |
| FY2022 | 1.55 | (0.38) |
| FY2021 | 1.93 | 1.20 |
| FY2020 | 0.73 | (0.22) |
| FY2019 | 0.94 | (0.08) |
| FY2018 | 1.02 | (0.23) |
| FY2017 | 1.26 | 0.38 |
| FY2016 | 0.87 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (0.02) | — | −0.02 | |
| Retained earnings / total assets | 0.05 | — | 0.07 | |
| EBIT / total assets | 0.14 | — | 0.47 | |
| Market value of equity / total liabilities | 0.95 | — | 0.57 | |
| Sales / total assets | 0.48 | — | 0.48 | |
| Altman Z-score | Distress zone | 1.58 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | 1.10 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| BYD Boyd Gaming Corporation compare | 2.5× |
| RRR Red Rock Resorts, Inc. | 1.6× |
| MTN Vail Resorts, Inc. compare | 1.5× |
| HGV Hilton Grand Vacations Inc. compare | 1.4× |
| WYNN Wynn Resorts, Limited compare | 1.3× |
| VAC Marriott Vacations Worldwide Corporation compare | 1.1× |
| MGM MGM Resorts International compare | 0.8× |
| CZR Caesars Entertainment, Inc. compare | 0.5× |
| PENN PENN Entertainment, Inc. compare | 0.3× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets