RCI Hospitality Holdings, Inc. key statistics and ratios

In fiscal 2025, RCI Hospitality Holdings, Inc. had return on equity of 4.1%, an operating margin of 10.8%, debt equal to 91.2% of equity and a current ratio of 0.81. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

RCI Hospitality Holdings, Inc.: financial ratios, annual
Fiscal year	2009Sept 2009	2010Sept 2010	2011Sept 2011	2012Sept 2012	2013Sept 2013	2014Sept 2014	2015Sept 2015	2016Sept 2016	2017Sept 2017	2018Sept 2018	2019Sept 2019	2020Sept 2020	2021Sept 2021	2022Sept 2022	2023Sept 2023	2024Sept 2024	2025Sept 2025	LTMJun 2026
Gross margin	—	—	—	—	—	—	—	84.8%	85.7%	86.2%	86.2%	85.3%	—	—	—	—	—	—
Operating margin	23.0%	15.4%	22.5%	17.1%	19.5%	15.5%	15.3%	15.3%	16.0%	16.6%	19.2%	2.1%	19.7%	26.7%	17.5%	6.4%	10.8%	9.6%
Net margin	8.0%	−10.7%	9.4%	8.0%	8.2%	9.3%	6.8%	8.3%	5.7%	12.6%	11.2%	−4.6%	15.5%	17.2%	10.0%	1.0%	3.9%	−1.5%
Free-cash-flow margin	11.2%	15.4%	8.8%	12.1%	7.8%	3.6%	−2.1%	−3.8%	6.8%	0.3%	9.1%	7.5%	14.6%	15.1%	6.4%	10.6%	12.5%	12.2%
Return on equity	7.1%	−11.1%	10.7%	9.4%	10.3%	11.0%	7.9%	9.0%	6.4%	14.6%	12.6%	−3.8%	18.2%	21.9%	11.2%	1.1%	4.1%	−1.7%
Return on assets	—	−5.4%	5.2%	4.4%	4.4%	4.9%	3.7%	4.1%	2.9%	6.4%	5.7%	−1.7%	8.4%	10.3%	5.1%	0.5%	1.8%	−0.7%
Asset turnover	—	0.50	0.55	0.55	0.54	0.53	0.54	0.50	0.50	0.51	0.51	0.37	0.54	0.60	0.51	0.49	0.47	0.49
Current ratio	—	1.48	1.11	0.64	0.71	0.60	0.75	1.09	0.84	1.09	1.05	0.84	2.30	1.62	0.78	0.98	0.81	0.56
Debt to equity	0.0%	61.0%	46.2%	75.4%	83.8%	63.8%	77.4%	84.1%	94.1%	92.8%	85.5%	93.4%	70.5%	85.3%	86.2%	91.5%	91.2%	103.2%
Interest cover (operating income ÷ interest)	4.5x	2.8x	4.8x	4.1x	3.3x	2.4x	3.0x	—	—	2.8x	3.4x	0.3x	3.9x	6.0x	3.2x	1.1x	1.9x	1.6x
Effective tax rate	33.6%	43.4%	34.5%	35.5%	36.5%	35.0%	36.5%	18.5%	43.4%	−17.5%	15.5%	—	11.7%	23.4%	19.0%	−15.7%	29.8%	—
SG&A as % of revenue	—	—	—	—	—	33.8%	32.2%	31.9%	32.3%	32.5%	33.1%	39.1%	28.0%	29.5%	31.7%	33.7%	38.6%	37.2%
Capital spending as % of revenue	2.5%	8.0%	13.8%	7.2%	8.6%	13.2%	14.2%	20.9%	7.8%	15.2%	11.4%	4.3%	6.9%	9.0%	13.7%	8.3%	5.2%	2.8%
Free cash flow ÷ net income	140.5%	—	93.7%	152.1%	94.7%	39.2%	−31.4%	−45.6%	119.2%	2.4%	81.1%	—	93.9%	88.0%	64.1%	>999%	322.7%	—
Dividends ÷ net income	—	—	—	—	—	—	—	7.7%	14.2%	5.6%	6.2%	—	4.7%	3.9%	7.3%	76.5%	22.8%	—
Dividends and buybacks ÷ free cash flow	20.3%	14.0%	44.5%	18.1%	18.6%	26.1%	—	—	23.0%	230.8%	25.2%	108.8%	11.4%	41.7%	23.3%	73.2%	41.1%	52.9%

US$ thousands unless shown otherwise. Fiscal quarters.

RCI Hospitality Holdings, Inc.: financial ratios, quarterly
Quarter	2024 Q4Sept 2024	2025 Q1Dec 2024	2025 Q2Mar 2025	2025 Q3Jun 2025	2025 Q4Sept 2025	2026 Q1Dec 2025	2026 Q2Mar 2026	2026 Q3Jun 2026
Operating margin	4.8%	19.5%	12.4%	12.2%	−0.7%	15.6%	5.5%	17.5%
Net margin	0.3%	12.6%	4.9%	5.7%	−7.8%	−6.7%	−0.5%	8.6%
Free-cash-flow margin	14.0%	10.6%	8.6%	14.2%	16.2%	7.7%	11.7%	13.2%
Current ratio	0.98	1.02	0.98	0.92	0.81	0.66	0.55	0.56
Debt to equity	90.4%	87.6%	89.8%	89.5%	90.3%	109.9%	108.1%	102.3%
SG&A as % of revenue	33.8%	36.7%	34.8%	36.7%	45.9%	34.9%	33.8%	34.3%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

0 of 7 checks passed · June 30, 2026

What it owns · $570m

Short-term assets $39mLonger-term assets $531m

What it owes, and who funded it · $567m

Short-term liabilities $69mLonger-term liabilities $263mShareholders' equity $235m

Short-term assets cover short-term liabilities $39m of assets due within a year against $69m of liabilities due within a year.
Short-term assets cover long-term liabilities $39m short-term assets against $263m of longer-dated liabilities.
More cash than debt $26m of cash against $240m of debt.
Debt below 40% of shareholders' equity Debt is 102% of equity.
Debt burden no higher than five years ago Debt to equity moved from 69% to 102% over five years.
A year's operating cash flow covers at least 20% of debt $43m of operating cash flow against $240m of debt.
Operating profit covers interest at least five times over Operating income of $27m against $17m of interest.

From RCI Hospitality Holdings, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

66 /100

Moderate moat

How hard RCI Hospitality Holdings's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

Returns on capital 4 / 20

Net income has been a median 4.1% of total assets over 10 years.
Pricing power 20 / 20

Gross margin has been a median 86.2%, moving by 1.9 percentage points (standard deviation) across 6 years.
Durability 8 / 20

Operating margin has been a median 16.7%; its worst year was 3.4%.
Cash conversion 14 / 20

Free cash flow was positive in 10 of 10 years, at a median 8.7% of revenue.
Discipline 20 / 20

The diluted share count fell 10.3% over five years; stock-based pay has been a median 0.3% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from RCI Hospitality Holdings, Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to RCI Hospitality Holdings, Inc.