Latest Ratios: P/E Ratio 24.0x · EV/EBITDA 4.4x · ROE 58.9%. (2013–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.8B | $6.4B | $4.8B | $5.5B | $4.2B | $6.4B | $2.9B | $2.8B | $2.4B | $3.9B | $795M |
| Enterprise Value | $2.7B | $6.3B | $8.1B | $8.7B | $7.1B | $9.0B | $5.7B | $5.7B | $5.1B | $6.3B | $3.1B |
| P/E Ratio → | 23.98 | 19.86 | 18.28 | 18.14 | 11.91 | 19.37 | — | — | 15.04 | 80.33 | 22.51 |
| P/S Ratio | 1.40 | 3.16 | 2.47 | 3.19 | 2.52 | 3.96 | 2.49 | 1.51 | 1.41 | 2.42 | 0.55 |
| P/B Ratio | 14.89 | 19.13 | 15.62 | 22.57 | 129.88 | 128.04 | 4.86 | 3.58 | 2.91 | 6.14 | 1.26 |
| P/FCF | 7.13 | 22.00 | 19.22 | — | — | 11.78 | 19.06 | — | — | 96.27 | 4.33 |
| P/OCF | 4.63 | 10.43 | 8.74 | 11.14 | 7.72 | 10.50 | 13.82 | 8.84 | 6.86 | 13.53 | 2.30 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.12 | 4.16 | 5.05 | 4.26 | 5.57 | 4.86 | 3.07 | 3.04 | 3.90 | 2.12 |
| EV / EBITDA | 4.43 | 7.89 | 10.68 | 12.59 | 10.28 | 16.11 | 17.90 | 13.92 | 9.26 | 12.38 | 6.62 |
| EV / EBIT | 4.58 | 10.38 | 14.49 | 15.49 | 12.55 | 23.17 | 45.94 | 21.32 | 13.23 | 19.10 | 10.13 |
| EV / FCF | — | 21.71 | 32.36 | — | — | 16.56 | 37.25 | — | — | 155.00 | 16.77 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 52.6% | 52.6% | 61.6% | 63.7% | 64.6% | 65.9% | 57.6% | 48.8% | 52.8% | 54.5% | 56.3% |
| Operating Margin | 29.7% | 29.7% | 29.3% | 32.4% | 33.7% | 24.8% | 7.6% | 10.1% | 22.1% | 20.5% | 21.3% |
| Net Profit Margin | 9.3% | 9.3% | 7.9% | 10.2% | 12.3% | 14.9% | -12.7% | -0.2% | 9.4% | 2.2% | 6.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 58.9% | 58.9% | 55.9% | 127.5% | 499.4% | 73.9% | -21.7% | -0.4% | 21.7% | 5.5% | 15.2% |
| ROA | 4.6% | 4.6% | 3.9% | 4.8% | 6.3% | 7.0% | -3.8% | -0.1% | 4.1% | 1.0% | 2.8% |
| ROIC | 23.4% | 23.4% | 12.1% | 13.1% | 15.1% | 9.9% | 1.9% | 3.9% | 8.5% | 8.3% | 8.4% |
| ROCE | 15.9% | 15.9% | 15.5% | 16.8% | 18.7% | 12.4% | 2.4% | 5.0% | 10.5% | 9.9% | 10.4% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.18 | 0.18 | 11.22 | 13.67 | 93.64 | 57.53 | 4.84 | 3.88 | 3.49 | 4.11 | 3.82 |
| Debt / EBITDA | 0.07 | 0.07 | 4.55 | 4.82 | 4.38 | 5.15 | 9.12 | 7.40 | 5.17 | 5.15 | 5.20 |
| Net Debt / Equity | — | -0.25 | 10.68 | 13.11 | 90.00 | 52.03 | 4.64 | 3.72 | 3.35 | 3.74 | 3.61 |
| Net Debt / EBITDA | -0.11 | -0.11 | 4.34 | 4.62 | 4.21 | 4.65 | 8.74 | 7.09 | 4.96 | 4.69 | 4.91 |
| Debt / FCF | — | -0.29 | 13.14 | — | — | 4.78 | 18.19 | — | — | 58.73 | 12.45 |
| Interest Coverage | 2.99 | 2.99 | 2.43 | 3.10 | 4.35 | 3.77 | 0.97 | 1.71 | 2.70 | 2.51 | 2.17 |
Net cash position: cash ($142M) exceeds total debt ($58M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.79 | 0.79 | 0.91 | 0.81 | 0.75 | 1.85 | 1.12 | 1.02 | 0.79 | 1.43 | 1.01 |
| Quick Ratio | 0.74 | 0.74 | 0.86 | 0.76 | 0.71 | 1.79 | 1.06 | 0.96 | 0.74 | 1.38 | 0.96 |
| Cash Ratio | 0.39 | 0.39 | 0.51 | 0.39 | 0.40 | 1.34 | 0.61 | 0.47 | 0.34 | 0.97 | 0.54 |
| Asset Turnover | — | 0.48 | 0.48 | 0.44 | 0.50 | 0.52 | 0.32 | 0.45 | 0.42 | 0.45 | 0.41 |
| Inventory Turnover | 53.14 | 53.14 | 45.35 | 41.06 | 44.60 | 47.08 | 38.33 | 53.49 | 53.26 | 58.49 | 53.14 |
| Days Sales Outstanding | — | 13.41 | 12.12 | 16.17 | 9.57 | 8.29 | 10.84 | 11.14 | 11.15 | 11.07 | 12.88 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.4% | 1.9% | 1.2% | 1.1% | 2.8% | 3.2% | 0.2% | 1.0% | 1.2% | 0.7% | 1.3% |
| Payout Ratio | 64.2% | 64.2% | 38.4% | 33.3% | 56.8% | 84.3% | — | — | 17.6% | 76.8% | 11.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.2% | 5.0% | 5.5% | 5.5% | 8.4% | 5.2% | — | — | 6.6% | 1.2% | 4.4% |
| FCF Yield | 14.0% | 4.5% | 5.2% | — | — | 8.5% | 5.2% | — | — | 1.0% | 23.1% |
| Buyback Yield | 2.8% | 1.2% | 0.4% | 0.3% | 3.4% | 7.8% | 0.0% | 0.0% | 0.0% | 0.1% | 0.0% |
| Total Shareholder Yield | 5.2% | 3.1% | 1.6% | 1.3% | 6.2% | 11.0% | 0.3% | 1.0% | 1.2% | 0.8% | 1.3% |
| Shares Outstanding | — | $103M | $104M | $103M | $105M | $116M | $117M | $117M | $117M | $116M | $34M |
Includes 30+ ratios · 13 years · Updated daily
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Quick answers to the most common questions about buying RRR stock.
Red Rock Resorts, Inc.'s current P/E ratio is 24.0x. The historical average is 25.7x. This places it at the 88th percentile of its historical range.
Red Rock Resorts, Inc.'s current EV/EBITDA is 4.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 11.8x.
Red Rock Resorts, Inc.'s return on equity (ROE) is 58.9%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 66.1%.
Based on historical data, Red Rock Resorts, Inc. is trading at a P/E of 24.0x. This is at the 88th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Red Rock Resorts, Inc.'s current dividend yield is 2.44% with a payout ratio of 64.2%.
Red Rock Resorts, Inc. has 52.6% gross margin and 29.7% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Red Rock Resorts, Inc.'s Debt/EBITDA ratio is 0.1x, indicating low leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Graton contract renewal dependence
Metrics are mathematically derived from official filings.
Premium Multiples Price Land Optionality
Based on reported figures, RRR trades at 15.46x trailing P/E and 3.44x EV/EBITDA, a discount on EBITDA against Boyd's 6.72x that is less clear-cut than it looks given the 14.89x P/B.
The P/B of 14.89 reflects a thin equity base of roughly $143M to $247M rather than a premium on book assets, so it is distorted and should not be read as a quality signal. The low EV/EBITDA multiple relative to peers suggests the market is pricing the entitled land bank and the Graton fee stream at a modest value, while the forward P/E rising to 21.80 implies earnings are expected to compress. Investors should monitor whether the forward decline reflects cost pressure or a normalization of non-recurring items.
Operating Margin Anchors Earning Power
As reported in financial statements, RRR's operating margin held between 27.6% and 31.9% across most recent quarters before dropping to 5.5% in 2026Q3, while net margin swung from 10.7% to -2.0%.
The stable operating margin band suggests the core Las Vegas operations have scaled in line with revenue, but the latest quarter's collapse to 5.5% is too large to attribute to normal seasonality and warrants investigation. Net margin volatility far exceeds operating margin volatility, indicating that non-operating items, tax effects, or stock compensation charges are contributing materially to bottom-line results. Operating margin is the more reliable gauge of earning power here, though it should be adjusted for the Graton fee income, which carries near-100% margins.
Leverage Ratios Reflect Classification Noise
According to reported quarterly figures, RRR's debt-to-equity ratio ranges from 0.18 to 15.27 and interest coverage from 0.52x to 3.45x, a spread too wide to reflect true changes in risk.
The swings in D/E and interest coverage likely stem from shifts in how debt and equity are recorded, given the equity base is small and volatile, rather than a multi-fold change in borrowing. Coverage dipping to 0.52x in 2026Q3 is a notable data point that suggests debt service was temporarily thin, though a single quarter may not establish a trend. Investors should monitor whether coverage recovers toward the roughly 2.5x to 3.0x range seen in most prior quarters.
Persistent Sub-Parity Current Ratio
As reported in financial statements, RRR's current ratio stayed between 0.68 and 1.02 over ten quarters, with quick ratio tracking closely at 0.63 to 0.96, indicating thin short-term coverage.
A current ratio consistently below 1.0 for a business with predictable cash generation is common in gaming and hospitality, where customer deposits and accrued liabilities are structurally high, so it does not by itself signal distress. The close alignment of quick and current ratios suggests inventory is immaterial to the liquidity picture. Under severe stress, the position would depend on the cash balance of roughly $117M to $164M and the ability to access financing, which the supplied data does not establish.
Headline ROE Overstates Economic Returns
Based on reported figures, RRR's ROE of 58.9% appears inflated by a small equity base, and the ROIC of 0.5% in the latest quarter suggests that true capital returns may be far weaker than headline figures imply.
The gap between ROE near 13% to 17% in most quarters and ROIC in the low single digits suggests that leverage and a shrunken equity cushion, rather than operating efficiency, are doing much of the work in the headline return. Using ROIC or ROA as the primary return measure is more appropriate for an asset-heavy operator with roughly $4.0B to $4.4B in total assets. Investors should monitor whether ROIC can sustain levels above the 3% to 5% range seen in most quarters once the Durango investment matures.