📊 FLL Key Takeaways
Is FLL a Good Investment? Thesis Analysis
Full House Resorts is in severe financial distress with negative profitability, critically weak balance sheet metrics, and deteriorating liquidity. The company faces an unsustainable capital structure with 186.62x debt-to-equity ratio and negative free cash flow, indicating inability to service debt or invest in operations.
Why Buy FLL? Key Strengths
- Modest revenue growth of 3.5% YoY demonstrates operational continuation
- Positive operating cash flow of $10.0M provides minimal near-term liquidity buffer
- Cash position of $40.7M offers short-term runway for operations
FLL Investment Risks to Consider
- Net loss of $40.2M with -13.3% net margin indicates core business unprofitability and operational distress
- Catastrophic leverage with $473.6M long-term debt against $2.5M equity and interest coverage of 0.1x signals imminent default risk
- Current ratio of 0.72x and quick ratio of 0.69x demonstrate severe liquidity crisis with insufficient current assets to cover short-term obligations
- Negative free cash flow of -$2.7M shows capital expenditures exceed operating cash generation, unsustainable long-term
- Extreme negative ROE of -1583.8% and ROA of -6.2% reflect complete shareholder value destruction
Key Metrics to Watch
- Quarterly net income trend and path to profitability
- Debt refinancing ability and covenant compliance status
- Free cash flow trajectory and liquidity runway in months
- Operating margin expansion or contraction
- Capital structure restructuring announcements or debt restructuring
FLL Financial Metrics
💡 AI Analyst Insight
The current ratio below 1.0x warrants monitoring of short-term liquidity.
FLL Profitability Ratios
FLL vs Default Sector
How FULL HOUSE RESORTS INC compares to Default sector averages
Sector benchmarks are approximate industry averages. Actual sector performance may vary.
Is FLL Overvalued or Undervalued?
Based on fundamental analysis, FULL HOUSE RESORTS INC shows some fundamental concerns relative to the Default sector in 2026.
Note: This is a fundamental analysis based on SEC filings. For P/E ratio, price targets, and market-based valuation, consult financial data providers. This is not investment advice.
FLL Balance Sheet & Liquidity
FLL 5-Year Financial Trend & Growth Analysis
5-Year Trend Summary: FULL HOUSE RESORTS INC's revenue has grown significantly by 68% over the 5-year period, indicating strong business expansion. The most recent EPS of $-1.16 indicates the company is currently unprofitable.
FLL Growth Metrics (YoY)
FLL Quarterly Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q3 2025 | $75.7M | -$7.7M | $-0.21 |
| Q2 2025 | $73.5M | -$8.6M | $-0.25 |
| Q1 2025 | $69.9M | -$9.8M | $-0.27 |
| Q3 2024 | $71.5M | $4.6M | $0.13 |
| Q2 2024 | $59.4M | -$5.6M | $-0.16 |
| Q1 2024 | $50.1M | -$11.3M | $-0.33 |
| Q3 2023 | $41.4M | $110.0K | $-0.10 |
| Q2 2023 | $44.4M | $110.0K | $-0.12 |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
FLL Capital Allocation
FLL SEC 10-K & 10-Q Filing Analysis
Access official SEC EDGAR filings for FULL HOUSE RESORTS INC (CIK: 0000891482)
📋 Recent SEC Filings
❓ Frequently Asked Questions about FLL
What is the AI rating for FLL?
FULL HOUSE RESORTS INC (FLL) has an AI rating of STRONG SELL with 92% confidence, based on fundamental analysis of SEC EDGAR filings.
What are FLL's key strengths?
Claude: Modest revenue growth of 3.5% YoY demonstrates operational continuation. Positive operating cash flow of $10.0M provides minimal near-term liquidity buffer.
What are the risks of investing in FLL?
Claude: Net loss of $40.2M with -13.3% net margin indicates core business unprofitability and operational distress. Catastrophic leverage with $473.6M long-term debt against $2.5M equity and interest coverage of 0.1x signals imminent default risk.
What is FLL's revenue and growth?
FULL HOUSE RESORTS INC reported revenue of $302.4M.
Does FLL pay dividends?
FULL HOUSE RESORTS INC does not currently pay dividends.
Where can I find FLL SEC filings?
Official SEC filings for FULL HOUSE RESORTS INC (CIK: 0000891482) including 10-K, 10-Q, and 8-K reports are available on SEC EDGAR.
What is FLL's EPS?
FULL HOUSE RESORTS INC has a diluted EPS of $-1.12.
How is the AI analysis conducted?
Two independent AI systems — Claude (Anthropic) and ChatGPT (OpenAI) — analyze SEC EDGAR filings including 10-K annual reports and 10-Q quarterly reports. Each AI evaluates financial health, profitability ratios, balance sheet strength, and growth metrics. The combined rating reflects both perspectives for balanced insights.
Is FLL a good stock to buy right now?
Based on our AI fundamental analysis in March 2026, FULL HOUSE RESORTS INC has a STRONG SELL rating with 92% confidence. Review the strengths and risks sections above before making a decision. This is not investment advice.
Is FLL stock overvalued or undervalued?
Valuation metrics for FLL: ROE of -1,583.8% (sector avg: 15%), net margin of -13.3% (sector avg: 12%). Compare these metrics with sector averages to assess valuation.
Should I buy FLL stock in 2026?
Our dual AI analysis gives FULL HOUSE RESORTS INC a combined STRONG SELL rating for 2026. Revenue is data pending, with profitability at or below sector average. Always conduct your own research.
What is FLL's free cash flow?
FULL HOUSE RESORTS INC's operating cash flow is $10.0M, with capital expenditures of $12.7M. FCF margin is -0.9%.
How does FLL compare to other Default stocks?
Vs Default sector averages: Net margin -13.3% (avg: 12%), ROE -1,583.8% (avg: 15%), current ratio 0.72 (avg: 1.8).