Red Rock Resorts, Inc. key statistics and ratios

In fiscal 2025, Red Rock Resorts, Inc. had return on equity of 88.8%, an operating margin of 29.7%, debt equal to 1644.3% of equity and a current ratio of 0.79. 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.

Red Rock Resorts, Inc.: financial ratios, annual
Fiscal year	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Operating margin	18.4%	21.2%	21.0%	20.2%	22.1%	10.0%	7.5%	24.8%	33.7%	32.4%	29.3%	29.7%	27.7%
Net margin	7.8%	10.2%	6.2%	2.2%	9.4%	−0.2%	−12.7%	14.9%	12.3%	10.2%	7.9%	9.3%	8.4%
Free-cash-flow margin	12.9%	16.2%	12.5%	2.5%	−13.9%	−2.0%	13.0%	33.9%	12.8%	−11.9%	13.6%	14.4%	9.6%
Return on equity	15.6%	23.0%	20.4%	9.7%	35.1%	−0.7%	−35.3%	117.4%	—	165.6%	80.3%	88.8%	89.0%
Return on assets	—	4.7%	2.8%	1.0%	4.1%	−0.1%	−3.8%	7.0%	6.3%	4.8%	3.9%	4.6%	4.0%
Asset turnover	—	0.46	0.46	0.46	0.44	0.46	0.30	0.47	0.51	0.47	0.48	0.49	0.47
Current ratio	—	0.82	1.01	1.39	0.79	1.02	1.12	1.85	0.75	0.81	0.91	0.79	0.68
Debt to equity	—	389.8%	709.8%	708.3%	559.7%	614.2%	835.4%	>999%	>999%	>999%	>999%	>999%	>999%
Interest cover (operating income ÷ interest)	1.6x	2.0x	2.2x	2.5x	2.6x	1.2x	0.7x	3.9x	4.3x	3.1x	2.5x	3.0x	2.8x
Effective tax rate	0.0%	0.0%	5.0%	68.0%	9.8%	—	—	−24.3%	10.2%	11.3%	11.2%	11.6%	12.2%
SG&A as % of revenue	24.8%	24.2%	22.2%	23.2%	23.2%	22.4%	27.5%	21.5%	21.2%	21.7%	22.3%	21.9%	22.8%
Capital spending as % of revenue	8.0%	9.6%	11.0%	15.1%	34.5%	19.0%	4.9%	3.8%	19.7%	40.6%	14.6%	15.9%	21.4%
Free cash flow ÷ net income	166.1%	159.5%	200.2%	117.2%	−148.1%	—	—	226.9%	104.0%	−116.6%	171.6%	154.5%	114.3%
Dividends ÷ net income	0.0%	0.0%	11.6%	76.2%	17.6%	—	—	84.3%	56.8%	33.3%	76.9%	64.2%	71.6%
Dividends and buybacks ÷ free cash flow	0.0%	0.0%	5.8%	65.0%	—	—	4.7%	128.3%	120.9%	—	46.3%	68.8%	107.5%

US$ thousands unless shown otherwise. Fiscal quarters.

Red Rock Resorts, Inc.: financial ratios, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Operating margin	27.9%	28.7%	31.0%	31.9%	27.6%	28.1%	28.3%	26.7%
Net margin	6.2%	9.4%	9.0%	10.7%	8.9%	8.7%	8.5%	7.7%
Free-cash-flow margin	10.8%	24.5%	11.6%	15.3%	15.7%	15.2%	4.5%	3.6%
Current ratio	1.02	0.91	0.92	0.89	0.75	0.79	0.81	0.68
Debt to equity	>999%	>999%	>999%	>999%	>999%	>999%	>999%	>999%
SG&A as % of revenue	23.3%	21.6%	21.0%	21.3%	23.7%	21.8%	22.5%	23.1%

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

1 of 7 checks passed · June 30, 2026

What it owns · $4.4bn

Short-term assets $281mLonger-term assets $4.1bn

What it owes, and who funded it · $4.2bn

Short-term liabilities $416mLonger-term liabilities $3.7bnShareholders' equity $171m

Short-term assets cover short-term liabilities $281m of assets due within a year against $416m of liabilities due within a year.
Short-term assets cover long-term liabilities $281m short-term assets against $3.7bn of longer-dated liabilities.
More cash than debt $136m of cash against $3.6bn of debt.
Debt below 40% of shareholders' equity Debt is 2093% of equity.
Debt burden no higher than five years ago Debt to equity moved from 4753% to 2093% over five years.
A year's operating cash flow covers at least 20% of debt $623m of operating cash flow against $3.6bn of debt.
Operating profit covers interest at least five times over Operating income of $555m against $199m of interest.

From Red Rock Resorts, 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

32 /100

Weak moat

How hard Red Rock Resorts'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 3 / 20

Net income has been a median 3.3% of total assets over 10 years.
Durability 8 / 20

Operating margin has been a median 25.9%; its worst year was -1.2%.
Cash conversion 8 / 20

Free cash flow was positive in 6 of 10 years, at a median 4.2% 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.

Compare with peers

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Figures from Red Rock Resorts, Inc.'s SEC filings (10-K and 10-Q), retrieved October 26, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Red Rock Resorts, Inc.