Red Rock Resorts (RRR) financial statements
Red Rock Resorts reported revenue of $2.0B in fiscal 2025, up 3.5% a year over 9 years.
Net income was $188M and the operating margin 29.7%, against 21.0% in 2016.
Free cash flow was $291M, and the company returned $121M in dividends and $79M in net buybacks.
The diluted share count rose 199% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Red Rock Resorts's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.5B | $1.6B | $1.7B | $1.9B | $1.2B | $1.6B | $1.7B | $1.7B | $1.9B | $2.0B |
| Selling, general and admin | $327M | $381M | $390M | $416M | $325M | $347M | $353M | $374M | $432M | $441M |
| Operating income | $310M | $331M | $372M | $186M | $89M | $402M | $561M | $559M | $569M | $597M |
| Interest expense | $140M | $131M | $143M | $157M | $128M | $103M | $130M | $181M | $229M | $202M |
| Pre-tax income | $164M | $198M | $243M | -$8M | -$60M | $286M | $435M | $381M | $328M | $402M |
| Income tax | $8M | $135M | $24M | -$2M | $114M | -$69M | $45M | $43M | $37M | $47M |
| Net income | $92M | $35M | $158M | -$3M | -$150M | $242M | $205M | $176M | $154M | $188M |
| EPS (diluted) | $1.03 | $0.42 | $1.77 | -$0.05 | -$2.13 | $2.84 | $3.36 | $2.94 | $2.53 | $3.12 |
| Diluted shares | 34M | 116M | 117M | 70M | 71M | 116M | 105M | 103M | 104M | 103M |
| Operating margin | 21.0% | 20.2% | 22.1% | 10.0% | 7.5% | 24.8% | 33.7% | 32.4% | 29.3% | 29.7% |
| Net margin | 6.2% | 2.2% | 9.4% | -0.2% | -12.7% | 14.9% | 12.3% | 10.2% | 7.9% | 9.3% |
Balance sheet
Fiscal years, from Red Rock Resorts's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $134M | $231M | $115M | $129M | $121M | $275M | $117M | $138M | $164M | $142M |
| Receivables | $44M | $49M | $51M | $57M | $35M | $37M | $44M | $62M | $64M | $74M |
| Inventory | $12M | $13M | $15M | $18M | $13M | $12M | $13M | $15M | $16M | $18M |
| Total current assets | $250M | $342M | $262M | $282M | $225M | $379M | $221M | $282M | $295M | $287M |
| Property, plant and equipment | $2.4B | $2.5B | $3.0B | $3.1B | $2.9B | $2.0B | $2.2B | $2.8B | $2.8B | $3.0B |
| Goodwill | $196M | $196M | $196M | $196M | $196M | $196M | $196M | $196M | $196M | $196M |
| Total assets | $3.5B | $3.6B | $4.0B | $4.1B | $3.7B | $3.1B | $3.3B | $4.0B | $4.0B | $4.2B |
| Total current liabilities | $247M | $245M | $334M | $276M | $200M | $205M | $293M | $349M | $325M | $363M |
| Long-term debt | $2.4B | $2.6B | $2.8B | $3.0B | $2.9B | $2.8B | $3.0B | $3.3B | $3.4B | $3.4B |
| 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 | $59M | $44M | $169M | $215M | $208M |
| Net debt | $2.3B | $2.4B | $2.7B | $2.9B | $2.8B | $2.6B | $2.9B | $3.2B | $3.2B | $3.3B |
Cash flow
Fiscal years, from Red Rock Resorts's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $346M | $290M | $346M | $317M | $213M | $610M | $542M | $494M | $548M | $610M |
| Capital spending | $162M | $248M | $579M | $353M | $58M | $61M | $329M | $700M | $284M | $319M |
| Free cash flow | $184M | $42M | -$233M | -$37M | $154M | $549M | $214M | -$205M | $264M | $291M |
| Stock-based compensation | $7M | $8M | $11M | $17M | $11M | $13M | $18M | $20M | $31M | $32M |
| Dividends paid | $11M | $27M | $28M | $28M | $7M | $204M | $117M | $59M | $118M | $121M |
| Share buybacks (net) | — | — | — | -$376,000 | $0 | -$500M | -$142M | $0 | -$4M | -$79M |
| Free cash flow margin | 12.5% | 2.5% | -13.9% | -2.0% | 13.0% | 33.9% | 12.8% | -11.9% | 13.6% | 14.4% |
| Dividends per share | $0.31 | $0.23 | $0.24 | $0.40 | $0.10 | $1.75 | $1.11 | $0.57 | $1.14 | $1.18 |
Questions
What was Red Rock Resorts's revenue in 2025?
$2.0B in fiscal 2025, from its 10-K filing.
How much free cash flow does Red Rock Resorts generate?
$291M in fiscal 2025 (operating cash flow minus capital spending).
From Red Rock Resorts's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.