RRR
Red Rock Resorts, Inc.
RRR's fundamentals are weak and it looks expensive: trading at 25x earnings, above its usual 18x. Analysts expect earnings growth, though they disagree widely on how much.
RRR Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Under pressure | |
| Weak |
RRR's profitability is currently healthy, and its revenue is stable, but its cash flow and balance sheet are under pressure.
RRR PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 12x | $23.83 | -52% |
| Fair | 18x | $35.23 | -28% |
| Forward | 19x | $49.19 | — |
| Expensive | 21x | $40.91 | -17% |
| Current | 25x | $49.19 | — |
Historical ranges are pointers, not guarantees.
RRR's PE is in its expensive range at 25x. If earnings grow as analysts expect, today's price would be 19x next year's earnings, in its fair range.
RRR Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Growth | |
| Stable | |
| Limited | |
| Low |
Analysts expect earnings and revenue growth for RRR, with profitability holding steady. However, they disagree widely on these estimates.
RRR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.63 | +34% |
| Q3 2026 | $1.97 | -38% |
| Q2 2026 | $2.82 | -4.7% |
| Q1 2026 | $3.10 | +19% |
| Q4 2025 | $3.12 | +23% |
| Q3 2025 | $3.16 | +17% |
| Q2 2025 | $2.96 | +5.3% |
| Q1 2025 | $2.60 | -9.4% |
| Q4 2024 | $2.53 | -14% |
RRR's earnings per share have fallen from their peak: $1.97 over the past year, against $4.53 in early 2022.
RRR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $488.7M | +2.8% |
| Q2 2026 | $510.3M | -3% |
| Q1 2026 | $507.3M | +1.9% |
| Q4 2025 | $511.8M | +3.2% |
| Q3 2025 | $475.6M | +1.6% |
| Q2 2025 | $526.3M | +8.2% |
| Q1 2025 | $497.9M | +1.8% |
| Q4 2024 | $495.7M | +7.1% |
RRR's revenue grew through 2024 and has held roughly level since: $489M last quarter, up 2.8% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 5.5% | -22 points |
| Q2 2026 | 27% | -5.3 points |
| Q1 2026 | 28% | -2.7 points |
| Q4 2025 | 28% | -0.7 points |
| Q3 2025 | 28% | -0.3 points |
| Q2 2025 | 32% | +3.1 points |
| Q1 2025 | 31% | -0.8 points |
| Q4 2024 | 29% | -8.4 points |
RRR's operating margin was 5.5% last quarter, down 22 points from the same quarter a year ago.
RRR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$67.7M | -191% |
| Q2 2026 | $18.2M | -77% |
| Q1 2026 | $22.6M | -61% |
| Q4 2025 | $77.7M | -36% |
| Q3 2025 | $74.6M | +47% |
| Q2 2025 | $80.3M | +25% |
| Q1 2025 | $58M | +104% |
| Q4 2024 | $121.4M | +$149.4M |
RRR usually generates cash, though not every quarter: the latest was −$68M, but it generated $51M over the past year.
RRR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.3% | -740K shares |
| 1 year | -43% | -44.6M shares |
| 3 years | -44% | -45.1M shares |
| 5 years | -50% | -58.4M shares |
| Available history | -17% | -11.5M shares |
RRR has 58M diluted shares, down 43% from a year ago, with $113M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $26.7M |
| Q2 2026 | — |
| Q1 2026 | $38.3M |
| Q4 2025 | $48.2M |
| Q3 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
| Q4 2023 | — |
RRR spent $113M buying back its own shares over the past year.
RRR Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 5.3x | High |
| Q2 2026 | 4.5x | High |
| Q1 2026 | 4.3x | High |
| Q4 2025 | 4.1x | High |
| Q3 2025 | 4.1x | High |
| Q2 2025 | 4.1x | High |
| Q1 2025 | 4.3x | High |
| Q4 2024 | 4.3x | High |
RRR's net debt is about 5.3 years of its operating earnings (EBITDA), up from 4.1 years a year ago.
RRR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 35.5 | Neutral |
| Stochastic | 11.4 | Oversold |
RRR's weekly RSI is 35 (neutral) and its Stochastic is 11 (oversold).
RRR PE vs Consumer Cyclical Sector
| Metric | RRR | Sector median | Relative |
|---|---|---|---|
| PE | 25x | 18x | 39% above |
| PE % | 90 | 47 | 43 pts above |
RRR is trading at 25x earnings, a 39% premium to the Consumer Cyclical sector's median of 18x.
RRR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $49.5 | 0.6% below |
| 20 week MA | $56.3 | 13% below |
| 50 week MA | $58.1 | 15% below |
| 100 week MA | $54.8 | 10% below |
| 200 week MA | $52.3 | 6% below |
RRR is in a downtrend: it's below all five of its weekly moving averages, and 6% below its 200-week average.
RRR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $24.0 | $25.5 | +6.4% |
| 2021 | $25.5 | $52.7 | +106% |
| 2022 | $52.7 | $40.1 | -24% |
| 2023 | $40.1 | $53.3 | +33% |
| 2024 | $53.3 | $46.2 | -13% |
| 2025 | $46.2 | $62.7 | +36% |
| 2026 YTD | $62.7 | $49.2 | -22% |
RRR has finished higher in four of the last six years. It's down 22% so far in 2026.