Bally's Corporation (BALY) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-251.8%

-$20.26

vs $13.35 price

Levered DCF

-$142.35

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

0.12

Distress zone

Rating

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	-1.14×	-1.53×	-3.97×	-2.65×	-16.48×	-279.06×	17.49×	15.33×
P/B	1.01×	28.06×	1.17×	1.4×	1.17×	4.82×	4.55×	3.66×
P/S	0.38×	0.35×	0.3×	0.5×	1.43×	4.22×	1.84×	2.5×
EV / EBITDA	18.82×	13.05×	17.82×	95.88×	37.32×	92.08×	8.41×	7.91×
Gross margin	43.0%	54.2%	54.9%	55.3%	59.5%	62.8%	64.6%	69.1%
Operating margin	1.1%	-10.5%	4.2%	7.5%	11.0%	-4.9%	21.9%	27.6%
Net margin	-26.4%	-23.2%	-7.7%	-18.9%	-8.7%	-1.5%	10.5%	16.3%
Current ratio	0.8×	0.66×	0.65×	0.69×	0.99×	2.02×	2.73×	1.62×
Debt / equity	6.47×	159.83×	7.97×	5.62×	2.47×	3.56×	3.32×	1.32×
Interest coverage	0.07×	-0.83×	0.37×	0.81×	1.24×	-0.29×	2.88×	5.24×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.2%	0.8%	0.1%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	-58.4%	13.7%	0.9%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-70.5%	-1837.3%	-29.5%	-52.8%	-7.1%	-1.7%	26.1%	23.9%
Return on invested capital	0.3%	-4.9%	1.7%	2.8%	2.3%	-0.1%	9.0%	12.4%
Return on assets	-6.2%	-9.7%	-2.7%	-6.8%	-1.8%	-0.3%	5.4%	9.1%
Free cash flow yield	-27.5%	-9.9%	-16.5%	-12.5%	-4.2%	0.3%	6.8%	-1.8%
Earnings yield	-69.9%	-65.5%	-25.2%	-37.8%	-6.1%	-0.3%	5.7%	6.5%
Enterprise value	$6.5B	$5.5B	$5.5B	$5.3B	$5.4B	$2.4B	$1.3B	$1.2B
Net debt / EBITDA	16.37×	11.31×	15.8×	78.6×	26.25×	40.52×	3.28×	2.03×
Cash conversion cycle (days)	5	-4	7	7	6	-9	2	-2