BALLYS Financials

BALY

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

Financial Health Signals

Financial Profile 7/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

BALLYS has an operating margin of -10.5%, meaning the company retains $-11 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from 4.3% the prior year.

Growth

BALLYS's revenue grew a modest 0.1% year-over-year to $2.5B. This slow but positive growth earns a score of 29/100.

Leverage

BALLYS has elevated debt relative to equity (D/E of 106.77), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.

Liquidity

BALLYS's current ratio of 0.66 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 6/100, which could limit financial flexibility.

Cash Flow

While BALLYS generated $114.0M in operating cash flow, capex of $199.8M consumed most of it, leaving -$85.8M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Piotroski F-Score Neutral

4/9

BALLYS passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Mixed

-0.20x

For every $1 of reported earnings, BALLYS generates $-0.20 in operating cash flow ($114.0M OCF vs -$567.8M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage At Risk

-0.8x

BALLYS earns $-0.8 in operating income for every $1 of interest expense (-$258.3M vs $310.3M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

This page shows BALLYS (BALY) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 8 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

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Key Financial Metrics

Revenue

$2.5B

YoY+0.1%

5Y CAGR+36.2%

BALLYS generated $2.5B in revenue in fiscal year 2024. This represents an increase of 0.1% from the prior year.

EBITDA

$121.2M

YoY-73.3%

5Y CAGR-3.8%

BALLYS's EBITDA was $121.2M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 73.3% from the prior year.

Free Cash Flow

-$85.8M

YoY+30.1%

BALLYS generated -$85.8M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 30.1% from the prior year.

Net Income

-$567.8M

YoY-202.8%

BALLYS reported -$567.8M in net income in fiscal year 2024. This represents a decrease of 202.8% from the prior year.

EPS (Diluted)

$-11.71

YoY-233.6%

BALLYS earned $-11.71 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 233.6% from the prior year.

Cash & Debt

$171.2M

YoY+4.9%

5Y CAGR-1.3%

BALLYS held $171.2M in cash against $3.3B in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

49M

YoY+21.0%

5Y CAGR+8.6%

BALLYS had 49M shares outstanding in fiscal year 2024. This represents an increase of 21.0% from the prior year.

Gross Margin

N/A

Operating Margin

-10.5%

YoY-14.8pp

5Y CAGR-32.4pp

BALLYS's operating margin was -10.5% in fiscal year 2024, reflecting core business profitability. This is down 14.8 percentage points from the prior year.

Net Margin

-23.2%

YoY-15.5pp

5Y CAGR-33.7pp

BALLYS's net profit margin was -23.2% in fiscal year 2024, showing the share of revenue converted to profit. This is down 15.5 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

N/A

Share Buybacks

YoY-100.0%

BALLYS spent $0 on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 100.0% from the prior year.

Capital Expenditures

$199.8M

YoY-35.8%

5Y CAGR+47.9%

BALLYS invested $199.8M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 35.8% from the prior year.

BALY Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$2.5B+0.1%	$2.4B+8.6%	$2.3B+70.6%	$1.3B+254.7%	$372.8M-28.8%	$523.6M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$1.0B-6.3%	$1.1B+34.9%	$825.7M+38.1%	$597.9M+190.3%	$206.0M+14.2%	$180.4M
Operating Income	-$258.3M-348.4%	$104.0M+135.5%	-$293.0M-413.8%	$93.4M+607.9%	-$18.4M-116.0%	$114.6M
Interest Expense	$310.3M+11.8%	$277.6M+33.3%	$208.2M+76.5%	$117.9M+88.3%	$62.6M+57.3%	$39.8M
Income Tax	$15.3M+765.6%	$1.8M+106.1%	-$28.9M-560.8%	-$4.4M+93.7%	-$69.3M-445.8%	$20.1M
Net Income	-$567.8M-202.8%	-$187.5M+55.9%	-$425.5M-271.0%	-$114.7M-1990.3%	-$5.5M-110.0%	$55.1M
EPS (Diluted)	$-11.71-233.6%	$-3.51+52.0%	$-7.32-216.9%	$-2.31-1183.3%	$-0.18-112.3%	$1.46

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$663.7M+0.9%	$657.5M+78.3%	$368.7M-36.5%	$580.4M-6.6%	$621.7M+0.5%	$618.5M+1.1%	$611.7M-3.3%	$632.5M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$292.5M-1.9%	$298.2M+85.9%	$160.4M-40.4%	$269.0M+6.6%	$252.4M+1.6%	$248.4M-34.9%	$381.8M+65.6%	$230.6M
Operating Income	$989K+140.6%	-$2.4M-34.6%	-$1.8M+94.4%	-$32.3M-679.4%	$5.6M+107.5%	-$74.0M+76.6%	-$315.9M-948.5%	$37.2M
Interest Expense	$110.8M+9.3%	$101.4M+90.7%	$53.2M-35.7%	$82.7M+11.5%	$74.2M+1.5%	$73.1M-4.5%	$76.6M+8.4%	$70.6M
Income Tax	-$41.3M-122.3%	$185.4M+291.0%	-$97.1M-611.0%	$19.0M+1365.8%	-$1.5M-104.8%	$31.4M+120.7%	-$151.3M-444.3%	$43.9M
Net Income	-$102.9M+54.9%	-$228.4M-761.8%	$34.5M+140.2%	-$85.8M-42.5%	-$60.2M+65.4%	-$173.9M+37.5%	-$278.4M-350.4%	-$61.8M
EPS (Diluted)	$-1.70+54.8%	$-3.76-759.6%	$0.57+132.4%	$-1.76-41.9%	$-1.24+65.7%	$-3.61+29.5%	$-5.12-345.2%	$-1.15

BALY Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$5.9B-14.6%	$6.9B+8.9%	$6.3B-3.9%	$6.6B+239.6%	$1.9B+88.9%	$1.0B
Current Assets	$447.9M-21.7%	$572.3M+9.5%	$522.7M-7.8%	$567.2M+96.3%	$289.0M+17.9%	$245.0M
Cash & Equivalents	$171.2M+4.9%	$163.2M-23.2%	$212.5M+3.1%	$206.2M+67.0%	$123.4M-32.4%	$182.6M
Inventory	$19.3M+32.0%	$14.6M+3.1%	$14.2M+23.5%	$11.5M+23.6%	$9.3M+17.7%	$7.9M
Accounts Receivable	$55.5M-21.1%	$70.3M-1.9%	$71.7M+48.8%	$48.2M+225.6%	$14.8M-36.2%	$23.2M
Goodwill	$1.8B-7.0%	$1.9B+10.9%	$1.7B-17.7%	$2.1B+1035.2%	$187.0M+40.5%	$133.1M
Total Liabilities	$5.8B-6.4%	$6.2B+13.3%	$5.5B+11.3%	$4.9B+208.0%	$1.6B+97.8%	$810.5M
Current Liabilities	$677.8M-22.5%	$874.8M+15.7%	$755.8M+32.6%	$570.1M+298.2%	$143.2M+59.5%	$89.8M
Long-Term Debt	$3.3B-9.4%	$3.6B+5.0%	$3.5B+1.2%	$3.4B+213.2%	$1.1B+60.8%	$680.6M
Total Equity	$30.9M-95.1%	$635.4M-21.1%	$805.8M-50.0%	$1.6B+393.6%	$326.6M+54.5%	$211.4M
Retained Earnings	-$1.1B-102.1%	-$555.9M-3.8%	-$535.4M-194.8%	-$181.6M-621.9%	$34.8M-86.1%	$250.4M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$7.6B-3.1%	$7.8B+4.0%	$7.5B+27.8%	$5.9B-11.1%	$6.6B-0.7%	$6.6B-3.3%	$6.9B-1.0%	$6.9B
Current Assets	$637.1M+30.0%	$490.0M-14.1%	$570.1M+27.3%	$447.9M-19.4%	$555.6M+3.6%	$536.1M-6.3%	$572.3M+4.0%	$550.6M
Cash & Equivalents	$160.7M-7.9%	$174.6M-16.8%	$209.7M+22.5%	$171.2M+10.7%	$154.7M-8.6%	$169.4M+3.8%	$163.2M-8.6%	$178.5M
Inventory	$22.6M-6.2%	$24.1M+15.7%	$20.9M+7.9%	$19.3M+6.8%	$18.1M+15.0%	$15.7M+7.5%	$14.6M-2.4%	$15.0M
Accounts Receivable	$214.4M+138.4%	$90.0M+5.3%	$85.4M+53.9%	$55.5M-15.7%	$65.8M-1.7%	$66.9M-4.8%	$70.3M-4.2%	$73.4M
Goodwill	$1.7B-1.2%	$1.7B+6.1%	$1.6B-9.9%	$1.8B-5.8%	$1.9B-0.2%	$1.9B-1.1%	$1.9B+3.7%	$1.9B
Total Liabilities	$7.0B-1.7%	$7.2B+7.0%	$6.7B+14.6%	$5.8B-5.9%	$6.2B+0.2%	$6.2B-0.6%	$6.2B+3.2%	$6.0B
Current Liabilities	$932.7M-6.2%	$993.9M+30.1%	$763.9M+12.7%	$677.8M-26.6%	$923.2M+5.4%	$875.8M+0.1%	$874.8M+3.8%	$842.7M
Long-Term Debt	$3.7B+4.5%	$3.6B+3.8%	$3.4B+4.0%	$3.3B-9.7%	$3.7B-0.2%	$3.7B+0.5%	$3.6B+6.4%	$3.4B
Total Equity	$521.5M-17.2%	$630.1M-20.9%	$796.5M+2477.5%	$30.9M-92.1%	$393.1M-12.5%	$449.4M-29.3%	$635.4M-29.1%	$896.6M
Retained Earnings	-$296.8M-53.1%	-$193.9M-661.8%	$34.5M+103.1%	-$1.1B-42.2%	-$790.0M-8.2%	-$729.8M-31.3%	-$555.9M-34.7%	-$412.6M

BALY Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$114.0M-39.6%	$188.6M-30.4%	$271.0M+227.4%	$82.8M+324.3%	$19.5M-79.3%	$94.1M
Capital Expenditures	$199.8M-35.8%	$311.5M+46.7%	$212.3M+117.6%	$97.5M+538.1%	$15.3M-45.9%	$28.2M
Free Cash Flow	-$85.8M+30.1%	-$122.9M-309.3%	$58.7M+497.5%	-$14.8M-450.1%	$4.2M-93.6%	$65.9M
Investing Cash Flow	$97.8M+147.1%	-$207.8M+31.4%	-$302.9M+86.8%	-$2.3B-416.3%	-$444.8M-1042.8%	-$38.9M
Financing Cash Flow	-$287.8M-537.7%	$65.8M+52.1%	$43.2M-98.2%	$2.4B+556.3%	$366.4M+649.3%	$48.9M
Dividends Paid	N/A	N/A	$0	$0-100.0%	$3.2M-57.5%	$7.5M
Share Buybacks	$0-100.0%	$99.1M-35.4%	$153.4M+76.2%	$87.0M+161.4%	$33.3M-85.1%	$223.1M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	-$88.6M-627.5%	$16.8M-60.0%	$42.0M+11.0%	$37.8M-20.5%	$47.6M+705.5%	-$7.9M-111.2%	$70.3M+29.4%	$54.3M
Capital Expenditures	$50.7M+3.6%	$49.0M+60.8%	$30.5M-30.9%	$44.1M+23.4%	$35.7M+27.3%	$28.1M-38.0%	$45.3M-69.2%	$146.7M
Free Cash Flow	-$139.3M-333.2%	-$32.2M-378.6%	$11.5M+284.8%	-$6.2M-152.8%	$11.8M+133.0%	-$35.9M-243.6%	$25.0M+127.1%	-$92.4M
Investing Cash Flow	-$72.2M+49.5%	-$142.8M-586.4%	-$20.8M-107.2%	$288.9M+753.6%	-$44.2M-1.8%	-$43.4M+78.9%	-$205.5M+9.1%	-$226.2M
Financing Cash Flow	$181.2M+71.6%	$105.6M+650.5%	$14.1M+103.9%	-$363.5M-4389.6%	$8.5M-83.5%	$51.3M-64.7%	$145.3M+53.0%	$95.0M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$0	$0-100.0%	$416.2M	$0	$0	$0-100.0%	$68.6M	$0

BALY Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	-10.5%-14.8pp	4.3%+17.2pp	-13.0%-20.0pp	7.1%+12.0pp	-4.9%-26.8pp	21.9%
Net Margin	-23.2%-15.5pp	-7.7%+11.2pp	-18.9%-10.2pp	-8.7%-7.2pp	-1.5%-12.0pp	10.5%
Return on Equity	N/A	N/A	N/A	N/A	N/A	26.1%
Return on Assets	-9.7%-7.0pp	-2.7%+4.0pp	-6.8%-5.0pp	-1.8%-1.5pp	-0.3%-5.7pp	5.4%
Current Ratio	0.660.0	0.65-0.0	0.69-0.3	0.99-1.0	2.02-0.7	2.73
Debt-to-Equity	106.77+101.0	5.73+1.4	4.31+2.2	2.13-1.2	3.35+0.1	3.22
FCF Margin	-3.5%+1.5pp	-5.0%-7.6pp	2.6%+3.7pp	-1.1%-2.3pp	1.1%-11.4pp	12.6%

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	0.1%+0.5pp	-0.4%+0.1pp	-0.5%+5.1pp	-5.6%-6.5pp	0.9%+12.9pp	-12.0%+39.7pp	-51.6%-57.5pp	5.9%
Net Margin	-15.5%+19.2pp	-34.7%-44.1pp	9.4%+24.1pp	-14.8%-5.1pp	-9.7%+18.4pp	-28.1%+17.4pp	-45.5%-35.7pp	-9.8%
Return on Equity	N/A	N/A	4.3%	N/A	N/A	N/A	N/A	N/A
Return on Assets	-1.4%+1.6pp	-2.9%-3.4pp	0.5%+1.9pp	-1.5%-0.5pp	-0.9%+1.7pp	-2.6%+1.4pp	-4.1%-3.2pp	-0.9%
Current Ratio	0.68+0.2	0.49-0.3	0.75+0.1	0.66+0.1	0.60-0.0	0.61-0.0	0.650.0	0.65
Debt-to-Equity	7.14+1.5	5.65+1.3	4.31-102.5	106.77+97.5	9.29+1.1	8.15+2.4	5.73+1.9	3.82
FCF Margin	-21.0%-16.1pp	-4.9%-8.0pp	3.1%+4.2pp	-1.1%-3.0pp	1.9%+7.7pp	-5.8%-9.9pp	4.1%+18.7pp	-14.6%

Note: The current ratio is below 1.0 (0.66), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

What is BALLYS's annual revenue?

BALLYS (BALY) reported $2.5B in total revenue for fiscal year 2024. This represents a 0.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is BALLYS's revenue growing?

BALLYS (BALY) revenue grew by 0.1% year-over-year, from $2.4B to $2.5B in fiscal year 2024.

Is BALLYS profitable?

No, BALLYS (BALY) reported a net income of -$567.8M in fiscal year 2024, with a net profit margin of -23.2%.

What is BALLYS's earnings per share (EPS)?

BALLYS (BALY) reported diluted earnings per share of $-11.71 for fiscal year 2024. This represents a -233.6% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is BALLYS's EBITDA?

BALLYS (BALY) had EBITDA of $121.2M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does BALLYS have?

As of fiscal year 2024, BALLYS (BALY) had $171.2M in cash and equivalents against $3.3B in long-term debt.

What is BALLYS's operating margin?

BALLYS (BALY) had an operating margin of -10.5% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is BALLYS's net profit margin?

BALLYS (BALY) had a net profit margin of -23.2% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is BALLYS's free cash flow?

BALLYS (BALY) generated -$85.8M in free cash flow during fiscal year 2024. This represents a 30.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is BALLYS's operating cash flow?

BALLYS (BALY) generated $114.0M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are BALLYS's total assets?

BALLYS (BALY) had $5.9B in total assets as of fiscal year 2024, including both current and long-term assets.

What are BALLYS's capital expenditures?

BALLYS (BALY) invested $199.8M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How many shares does BALLYS have outstanding?

BALLYS (BALY) had 49M shares outstanding as of fiscal year 2024.

What is BALLYS's current ratio?

BALLYS (BALY) had a current ratio of 0.66 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.

What is BALLYS's debt-to-equity ratio?

BALLYS (BALY) had a debt-to-equity ratio of 106.77 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is BALLYS's return on assets (ROA)?

BALLYS (BALY) had a return on assets of -9.7% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is BALLYS's Piotroski F-Score?

BALLYS (BALY) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are BALLYS's earnings high quality?

BALLYS (BALY) has an earnings quality ratio of -0.20x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can BALLYS cover its interest payments?

BALLYS (BALY) has an interest coverage ratio of -0.8x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is BALLYS?

BALLYS (BALY) scores 7 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.