Bally's Corp financial statements

Income statement, balance sheet and cash flow statement for the last 8 fiscal years, taken from the XBRL data Bally's Corp files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2017	FY2019	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024
Revenue	421	438	524	373	1,322	2,256	2,449	2,450
Selling, general and administrative	150	143	180	206	598	826	1,114	1,043
General and administrative				206	598	826	1,114	1,043
Operating income	124	121	115	-18.4	93.4	-293	104	-258
Interest expense	22.8	23	39.8	62.6	118	208	278	310
Interest income	0.19	0.17	1.9	0.61	2.25	0.62	6.1	20.7
Other non-operating income	0	0	0.18	6.21	-212	-161	-290	-294
Pre-tax income	101	97.8	75.2	-74.8	-119	-454	-186	-553
Income tax	38.9	26.4	20.1	-69.3	-4.38	-28.9	1.76	15.3
Net income to minority interests								0
Net income	62.2	71.4	55.1	-5.49	-115	-426	-188	-568
EBITDA	146	143	147	19.5	238	7.55	454	121
EPS, basic	1.64	1.95	1.46	-0.18	-2.31	-7.32	-3.51	-11.71
EPS, diluted	1.56	1.87	1.46	-0.18	-2.31	-7.32	-3.51	-11.71
Shares, basic (weighted)	36.5	36.9	37.7	31.3	49.6	58.1	53.4	48.5
Shares, diluted (weighted)	38.4	38.6	37.8	31.3	49.6	58.1	53.4	48.5
Dividend per share			0.20	0.10	0.10	0.10

Balance sheet

	FY2017	FY2019	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024
Cash and equivalents	85.8	77.6	183	123	206	213	163	171
Receivables		23	23.2	14.8	48.2	71.7	70.3	55.5
Inventory		6.42	7.9	9.3	11.5	14.2	14.6	19.3
Other current assets		11.6	28.4	3.45	20.7	5.65	9.29	15.3
Total current assets		122	245	289	567	523	572	448
Property, plant and equipment		416	510	749	839	1,202	1,175	631
Lease right-of-use assets		0	17.2	36.1	508	809	1,160	1,545
Goodwill		132	133	187	2,123	1,746	1,936	1,800
Intangible assets		110	110	663	2,478	1,962	1,871	1,307
Other non-current assets		1.6	5.74	5.39	27	32.7	110	127
Total assets		782	1,022	1,930	6,553	6,300	6,861	5,860
Accounts payable		14.2	14.9	15.9	87.5	70.1	69.2	85.8
Accrued liabilities		57.8	70.8	120	401	574	652	481
Deferred revenue				17.4	63.9	62.3	66.3	71.3
Short-term debt		3.6	3	5.75	19.5	19.5	19.5	19.5
Total current liabilities		75.6	89.8	143	570	756	875	678
Long-term debt		391	681	1,094	3,427	3,469	3,643	3,299
Lease liabilities		0	16.2	62	506	803	1,148	1,554
Other non-current liabilities		0	1.4	13.8	50.6	17.9	233	179
Total liabilities		484	810	1,603	4,937	5,494	6,225	5,829
Total debt		394	684	1,100	3,446	3,489	3,663	3,319
Paid-in capital		126	186	295	1,849	1,636	1,400	1,414
Retained earnings		203	250	34.8	-182	-535	-556	-1,124
Treasury stock		-30.2	-223	0	-29.2	0	0	0
Other comprehensive income		0	-1.89	-3.14	-26.8	-296	-210	-260
Shareholders' equity	177	299	211	327	1,612	806	635	30.9
Minority interests				0	3.76	0.43	0.43	0
Total equity	177	299	211	327	1,616	806	636	30.9
Total liabilities and equity		782	1,022	1,930	6,553	6,300	6,861	5,860
Shares outstanding		38	32.1	30.7	52.3	46.7	40	40.8

Cash flow statement

	FY2017	FY2019	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024
Net income	62.2	71.4	55.1	-5.49	-115	-426	-188	-568
Depreciation and amortization	22.2	22.3	32.4	37.8	145	301	350	380
Stock-based compensation	1.66	1.69	3.83	17.7	20.1	27.9	24.1	14.8
Deferred income tax	-5.13	5.88	9	1.19	-5.22	-88.1	-23.9	23.9
Change in receivables	-0.87	-4.86	5.21	11.6
Change in inventory	-0.46	0.84	-0.09	0.13
Change in payables	1.16	-4.08	-3.86	-4.98
Cash from operations	108	109	94.1	19.5	82.8	271	189	114
Capital expenditures	-47.9	-129	-28.2	-15.3	-97.5	-212	-311	-200
Acquisitions	0	0	-9.61	-425	-2,274	-146	-93.9	-0.79
Cash from investing	-47.5	-118	-38.9	-445	-2,297	-303	-208	97.8
Debt issued	0	0	708	669	3,788	597	448	440
Debt repaid			-424	-254	-1,878	-564	-280	-794
Stock issued	0.28	4.28	0	0	668	0	0	0
Share buybacks	-2.28	-7.96	-223	-33.3	-87	-153	-99.1	0
Dividends paid	0	0	-7.54	-3.2	0	0
Cash from financing	-28.9	-3.43	48.9	366	2,405	43.2	65.8	-288
Exchange rate effect			0	0	-42.2	-20.7	5.15	-8
Net change in cash	31.4	-11.8	104	-58.9	148	-9.66	50.1	-84
Free cash flow	60	-19.6	65.9	4.22	-14.8	58.7	-123	-85.8
Interest paid	20.1	23.2	35	57.2	65.9	201	250	314
Income taxes paid	41	22.2	16.5	3.84	42.3	-38.2	14.4	2.2

Key metrics

Worked out from the statements above. Latest values use fiscal 2024. Valuation uses the share price of $14.00 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	-10.5%	Operating income / revenue.
EBITDA margin	4.9%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-22.5%	Pre-tax income / revenue.
Net margin	-23.2%	Net income / revenue.
FCF margin	-3.5%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	4.7%	Cash from operations / revenue.
Return on equity (ROE)	-170.4%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-8.9%	Net income / average total assets.
Return on invested capital (ROIC)	-5.6%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	42.6%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.6%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	8.2%	Capital expenditures / revenue.
D&A / revenue	15.5%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	0.1%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	22.8%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	36.2%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-348.4%	Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y	-73.3%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-20.2%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	-3.8%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-39.6%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	11.3%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	3.9%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-95.1%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-73.2%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	-31.9%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-14.6%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-3.7%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	41.8%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-9.2%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-0.8%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	5.1%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	0.66x	Current assets / current liabilities.
Quick ratio	0.33x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.25x	(Cash + short-term investments) / current liabilities.
Debt / equity	107x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	56.6%	Total debt / total assets.
Liabilities / assets	99.5%	Total liabilities / total assets.
Net debt	$3.15B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	26.0x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	-0.83x	Operating income / interest expense.
Working capital	-$229.9M	Current assets - current liabilities.
Goodwill and intangibles / assets	53.0%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$3.08B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.39x	Revenue / average total assets.
Fixed asset turnover	2.71x	Revenue / average property, plant and equipment.
Receivables turnover	39.0x	Revenue / average receivables.
Days sales outstanding	9 days	365 x average receivables / revenue.
Capex / operating cash flow	175.3%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$11.71	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic	-$11.71	Net income per basic share, as reported (split-adjusted).
Revenue per share	$50.56	Revenue / diluted weighted shares.
FCF per share	-$1.77	Free cash flow / diluted weighted shares.
Operating cash flow per share	$2.35	Cash from operations / diluted weighted shares.
Book value per share	$0.76	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$75.43	Tangible book value / shares outstanding.
Cash per share	$4.20	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$706.6M	Share price x shares outstanding.
Enterprise value	$3.85B	Market cap + total debt - cash - short-term investments.
P/S	0.29x	Market cap / revenue.
P/B	22.9x	Market cap / shareholders' equity. Only when equity is positive.
P/OCF	6.20x	Market cap / cash from operations, when positive.
EV/Sales	1.57x	Enterprise value / revenue.
EV/EBITDA	31.8x	Enterprise value / EBITDA, when both are positive.
FCF yield	-12.1%	Free cash flow / market cap.
Earnings yield	-80.4%	Net income / market cap (the inverse of P/E).
Shareholder yield	0.0%	(Dividends paid + share buybacks) / market cap.

What was Bally's Corp's revenue in fiscal 2024?

Bally's Corp reported revenue of $2.45B for fiscal 2024, 0.1% higher than the year before.

Was Bally's Corp profitable in fiscal 2024?

No. It reported a net loss of $567.8M.

How much free cash flow did Bally's Corp generate in fiscal 2024?

Cash from operations of $114.0M minus capital expenditures of $199.8M left free cash flow of -$85.8M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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