BALY Consumer Cyclical

Bally's Corporation

$13.00-3.85%

Price as of close on Nov 3, 2026 · Financials updated Nov 1, 2026

Basics

Sector: Consumer Cyclical
Industry: Resorts & Casinos
Country: United States
Market cap: 656.1M USD
Enterprise value: 4.8B USD
Full-time employees: 11,700

Overall health

Strength: growing faster than most peersgrowing faster than peers
Drawback: less profitable than most peersless profitable than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: higher risk than most peers: less short-term liquidity (current ratio 0.91 vs a peer median of 1.48) and more debt relative to equity (6.99× vs a peer median of 0.46×)higher risk: less liquidity (current ratio 0.91 vs peers 1.48) and more debt vs equity (6.99× vs peers 0.46×)

Ranks #1,389 of 1,502 consumer cyclical companies (bottom 8%)

See how it ranks against its peers

Worth knowing

Paying shareholders without free cash flow. Paid out $252M over the 3 fiscal years to 2024 with -$150M of free cash flow.
Bally's returned $252M in buybacks and dividends over three fiscal years while its free cash flow totalled -$150M. The money came from its cash pile or from borrowing.
Much more borrowing than peers. Debt is 7.0× equity vs a peer median of 0.5×.Debt is 7.0× equity vs peers 0.5×.
Debt is 7.0× shareholders' equity, against a peer median of 0.5×, among the highest 10% of its peer group.Debt is 7.0× shareholders' equity, vs peers 0.5×, among the highest 10% of its peer group.
Not profitable yet. Reported a loss in the 12 months to December 2025.
Bally's reported a net loss over the last twelve months, so earnings-based measures can't show it as cheap.
Financials may be out of date. Latest financial period ended 10 months ago.
The latest financial period we have ended 10 months ago, so the scores may not reflect recent results.

StockQuotient Score

22/ 100

Oct 5 22 → Nov 4 22

Valuation

Is the price right?

17/100

Weak

2/3 inputs reported · Partial data

Since last year: ▼ Weaker

Share count up 3.0% (existing holders diluted)

Valuation also moves with the share price every day.

Why

Weaker than most peers on:

▼ Earnings yield
▼ EBITDA yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield-106.9%

SEC filings · 12 months to Dec 2025Negative (a loss or cash outflow), so it counts as zero whatever the share price30% base weight · Z-score -1.34Sector median: 0.0439 · MAD: 0.0329

EBITDA yield4.1%

Yahoo Finance fallback · SEC enterprise value unavailable (debt or EBITDA not reported in standard form) · trailing 12 monthsReported value50% base weight · Z-score -1.02Sector median: 0.0877 · MAD: 0.0461

Free cash flow yieldUnavailable

Missing · left out of the score · no sector data, so not countedNot counted · remaining weights rescaledSector median: 0.0614 · MAD: 0.0545

Other data (not scored)

Book yield98.3%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.5650 · MAD: 0.3500

Growth

Is it growing?

60/100

Moderate

3/3 inputs reported · High confidence

Since last year: No major change

Why

Stronger than most peers on:

▲ 3-yr revenue

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growthUnavailable

The loss per share widened33% base weight · Z-score -1.22Sector median: 0.0420 · MAD: 0.2537

3-year revenue growth22.8%

Yahoo Finance fallback · SEC figure unavailable or out of date · 3 fiscal years to Dec 2024Reported value33% base weight · Z-score 2.92Sector median: 0.0425 · MAD: 0.0636

Revenue growth0.1%

Yahoo Finance fallback · SEC figure unavailable or out of date · fiscal year to Dec 2024Reported value33% base weight · Z-score -0.56Sector median: 0.0373 · MAD: 0.0653

Profitability

Does it earn well?

10/100

Weak

3/3 inputs reported · High confidence

Since last year: No major change

Why

Weaker than most peers on:

▼ ROA
▼ Operating margin
▼ ROIC

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin-1.2%

Yahoo Finance fallback · SEC operating income not reported in standard form · fiscal year to Dec 2024Reported value33% base weight · Z-score -1.63Sector median: 0.0638 · MAD: 0.0461

Return on assets-6.5%

SEC filings · 12 months to Dec 2025Outlier capped at sector 5th/95th percentile33% base weight · Z-score -3.27Sector median: 0.0331 · MAD: 0.0254

Return on invested capital-0.3%

Yahoo Finance fallback · SEC operating income or invested capital unavailable · trailing 12 monthsReported value33% base weight · Z-score -1.27Sector median: 0.0733 · MAD: 0.0600

Other data (not scored)

Gross margin57.7%

Yahoo Finance fallback · SEC figure unavailable or out of date · trailing 12 monthsReported valueInformational · 0% composite weightSector median: 0.3025 · MAD: 0.1399

Return on equity-108.7%

SEC filings · 12 months to Dec 2025Outlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.0746 · MAD: 0.0674

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

2/3 inputs reported · Partial data

Since last year: No major change

Why

Weaker than most peers on:

▼ Debt / equity
▼ Current ratio

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

BetaUnavailable

Missing · left out of the score · no sector data, so not countedNot counted · remaining weights rescaledSector median: 0.6345 · MAD: 0.2980

Current ratio0.91×

SEC filings · latest balance sheetReported value33% base weight · Z-score -1.02Sector median: 1.4800 · MAD: 0.5570

Debt / equity6.99×

SEC filings · latest balance sheetOutlier capped at sector 5th/95th percentile33% base weight · Z-score -9.02Sector median: 0.4646 · MAD: 0.3556

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Bally's

Is Bally's getting weaker?: Its latest SEC filing (Aug 14, 2026) got weaker in some ways: share count up 3.0%. Its overall score is unchanged at 22/100 since Oct 28, 2026.
How is Bally's valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 17/100 against 1,612 consumer cyclical peers. Earnings yield -106.9% vs a peer median of 4.4% (weaker than 100% of peers).Earnings yield -106.9% vs peers 4.4% (weaker than 100% of peers).
Is Bally's growing?: Yes, faster than most of its peers. Growth scores 60/100 against 1,612 consumer cyclical peers. 3-year revenue growth 22.8% vs a peer median of 4.3% (stronger than 92% of peers).3-year revenue growth 22.8% vs peers 4.3% (stronger than 92% of peers). Revenue growth 0.1% vs a peer median of 3.7% (weaker than 65% of peers).Revenue growth 0.1% vs peers 3.7% (weaker than 65% of peers).
How profitable is Bally's?: Less profitable than most of its peers. Profitability scores 10/100 against 1,612 consumer cyclical peers. Return on assets -6.5% vs a peer median of 3.3% (weaker than 100% of peers).Return on assets -6.5% vs peers 3.3% (weaker than 100% of peers).
How risky is Bally's?: Higher risk relative to 1,612 consumer cyclical peers, judged on debt, liquidity and share-price swings. Debt / equity 6.99× vs a peer median of 0.46× (weaker than 100% of peers).Debt / equity 6.99× vs peers 0.46× (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Year ended Dec 31, 2025 · filed Aug 14, 2026 · compared with the year ended Dec 31, 2024

Got weaker

Share count up 3.0% (existing holders diluted)

Worth watching: Bally's is in the bottom fifth of its sector on profitability. From 2021 to 2025, 63% of companies in that position posted a loss over the following year, against 4% for the top fifth.

	Previous year	Latest year	Change
Net income (12 months)	−567.8M USD	−701.1M USD	+23.5%
Debt	3.5B USD	4.5B USD	+30.6%
Cash	209.7M USD	390.2M USD	+86.0%
Shares outstanding	49.0M	50.5M	+3.0%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one year at a time.

Industry valuation context

Sector: Consumer Cyclical · 182 companies

Valuations in Consumer Cyclical are within their usual range since 2016.

36% of months since 2016 were valued lower than now.
15% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +0% and earnings +10% (medians): prices and earnings moved broadly together.
Median price-to-sales is −55% vs the whole market, against a usual −41%.

2016Shaded: most expensive fifth of its range2026

Shown for Consumer Cyclical: too few Resorts & Casinos companies have a long enough history of their own.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2020	FY 2021	FY 2022	FY 2023	FY 2024	Change
Operating margin	-4.9%	7.1%	-13.0%	4.2%	-10.5%	▼ 15 pts
Net margin	-1.5%	-8.7%	-18.9%	-7.7%	-23.2%	▼ 16 pts
Return on assets (ROA)	-0.3%	-1.8%	-6.8%	-2.7%	-9.7%	▼ 7.0 pts
Return on equity (ROE)	-1.7%	-7.1%	-52.8%	-29.5%	—	—
Free cash flow margin	1.1%	-1.1%	2.6%	-5.0%	-3.5%	▲ 1.5 pts
Current ratio	2.02×	0.99×	0.69×	0.65×	0.66×	▲ 1.0%
Quick ratio	1.95×	0.97×	0.67×	0.64×	0.63×	▼ 0.8%
Debt to equity	3.37×	2.14×	4.33×	5.76×	—	—
Interest coverage	-0.29×	0.79×	-1.41×	0.37×	-0.83×	▼ 322%

BALY price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Strength: growing faster than most peersgrowing faster than peers

Drawback: less profitable than most peersless profitable than peers

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Drawback: higher risk than most peers: less short-term liquidity (current ratio 0.91 vs a peer median of 1.48) and more debt relative to equity (6.99× vs a peer median of 0.46×)higher risk: less liquidity (current ratio 0.91 vs peers 1.48) and more debt vs equity (6.99× vs peers 0.46×)

Ranks #1,389 of 1,502 consumer cyclical companies (bottom 8%)

See how it ranks against its peers

Worth knowing

Paying shareholders without free cash flow. Paid out $252M over the 3 fiscal years to 2024 with -$150M of free cash flow.

Bally's returned $252M in buybacks and dividends over three fiscal years while its free cash flow totalled -$150M. The money came from its cash pile or from borrowing.

Much more borrowing than peers. Debt is 7.0× equity vs a peer median of 0.5×.Debt is 7.0× equity vs peers 0.5×.

Debt is 7.0× shareholders' equity, against a peer median of 0.5×, among the highest 10% of its peer group.Debt is 7.0× shareholders' equity, vs peers 0.5×, among the highest 10% of its peer group.

Not profitable yet. Reported a loss in the 12 months to December 2025.

Bally's reported a net loss over the last twelve months, so earnings-based measures can't show it as cheap.

Financials may be out of date. Latest financial period ended 10 months ago.

The latest financial period we have ended 10 months ago, so the scores may not reflect recent results.

Questions investors ask about Bally's

Is Bally's getting weaker?

Its latest SEC filing (Aug 14, 2026) got weaker in some ways: share count up 3.0%. Its overall score is unchanged at 22/100 since Oct 28, 2026.

How is Bally's valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 17/100 against 1,612 consumer cyclical peers. Earnings yield -106.9% vs a peer median of 4.4% (weaker than 100% of peers).Earnings yield -106.9% vs peers 4.4% (weaker than 100% of peers).

Is Bally's growing?

Yes, faster than most of its peers. Growth scores 60/100 against 1,612 consumer cyclical peers. 3-year revenue growth 22.8% vs a peer median of 4.3% (stronger than 92% of peers).3-year revenue growth 22.8% vs peers 4.3% (stronger than 92% of peers). Revenue growth 0.1% vs a peer median of 3.7% (weaker than 65% of peers).Revenue growth 0.1% vs peers 3.7% (weaker than 65% of peers).

How profitable is Bally's?

Less profitable than most of its peers. Profitability scores 10/100 against 1,612 consumer cyclical peers. Return on assets -6.5% vs a peer median of 3.3% (weaker than 100% of peers).Return on assets -6.5% vs peers 3.3% (weaker than 100% of peers).

How risky is Bally's?

Higher risk relative to 1,612 consumer cyclical peers, judged on debt, liquidity and share-price swings. Debt / equity 6.99× vs a peer median of 0.46× (weaker than 100% of peers).Debt / equity 6.99× vs peers 0.46× (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Previous year

Latest year

Change

Net income (12 months)

−567.8M USD

−701.1M USD

+23.5%

Debt

3.5B USD

4.5B USD

+30.6%

Cash

209.7M USD

390.2M USD

+86.0%

Shares outstanding

49.0M

50.5M

+3.0%

Key ratios

FY 2020

FY 2021

FY 2022

FY 2023

FY 2024

Change

Operating margin

-4.9%

7.1%

-13.0%

4.2%

-10.5%

▼ 15 pts

Net margin

-1.5%

-8.7%

-18.9%

-7.7%

-23.2%

▼ 16 pts

Return on assets (ROA)

-0.3%

-1.8%

-6.8%

-2.7%

-9.7%

▼ 7.0 pts

Return on equity (ROE)

-1.7%

-7.1%

-52.8%

-29.5%

—

Free cash flow margin

1.1%

-1.1%

2.6%

-5.0%

-3.5%

▲ 1.5 pts

Current ratio

2.02×

0.99×

0.69×

0.65×

0.66×

▲ 1.0%

Quick ratio

1.95×

0.97×

0.67×

0.64×

0.63×

▼ 0.8%

Debt to equity

3.37×

2.14×

4.33×

5.76×

—

Interest coverage

-0.29×

0.79×

-1.41×

0.37×

-0.83×

▼ 322%