Red Rock Resorts (RRR) FY2019 results: revenue $1.9 billion, up 10.4% on the year
Red Rock Resorts, Inc. (RRR) reported revenue of $1.9 billion for fiscal 2019, the year ended 31 December 2019, up 10.4% on the year before. Net income was -$3 million, and diluted earnings per share $-0.05. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2020.
Revenue
$1.9 billion
+10.4% on the year
FY2014FY2019
Operating margin
10.0%
22.1% a year earlier
FY2014FY2019
Net income
-$3 million
FY2014FY2019
Diluted EPS
-$0.05
FY2014FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
1,857
1,681
1,642
+10.4%
Selling, general and administrative
416
390
381
+6.6%
Operating income
186
372
331
-50.0%
Operating margin
10.0%
22.1%
20.2%
Interest expense
157
143
131
+9.5%
Pre-tax income
-8.5
243
198
Income tax
-1.7
23.9
135
Effective tax rate
n/a
9.8%
67.9%
Net income
-3.4
158
35.4
Net margin
-0.2%
9.4%
2.2%
Diluted EPS
-$0.05
$1.77
$0.42
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
317
346
290
-8.5%
Capital expenditure
353
579
248
-39.0%
Free cash flow
-36.6
-233
41.5
Free cash flow margin
-2.0%
-13.9%
2.5%
Cash from investing
-405
-607
-282
Cash from financing
103
144
90.3
-28.5%
Depreciation and amortisation
222
180
178
+23.3%
Share-based compensation
16.8
11.3
7.9
+49.2%
Buybacks
0.4
n/a
n/a
Dividends paid
27.9
27.7
27.0
+0.7%
Dividend per share
$0.40
$0.40
$0.40
0.0%
Diluted shares, weighted
70m
117m
116m
-40.5%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
501
520
379
-3.6%
Non-controlling interest
282
297
253
-5.2%
Debt
3,033
2,855
2,618
+6.2%
Operating lease liabilities
10.7
n/a
n/a
Other liabilities
288
337
370
-14.7%
Total liabilities and equity
4,114
4,010
3,620
+2.6%
Fixed assets
3,062
3,012
2,542
+1.6%
Goodwill
196
196
196
0.0%
Intangible assets
109
117
128
-7.4%
Cash and equivalents
129
115
231
+12.4%
Receivables
56.7
51.3
48.7
+10.5%
Inventory
17.8
14.9
12.6
+19.1%
Other assets
545
503
461
+8.3%
Total assets
4,114
4,010
3,620
+2.6%
10-K for the year ended 31 December 2019, filed 21 February 2020: the filing.