Forensic Analysis · Hospitality & Leisure · as of Aug 11, 2026

Bally'S Corp (BALY)

A forensic read on Bally'S Corp built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

D · Weak — demands caution

Forensic grade

Distress

Financial health

-1.1

Distress distance

Clean

Earnings quality

Forensic signals

-1.0

P / E (ttm)

-57.1%

ROE

$638M

Market cap

0.00%

Dividend yield

0.1%

Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Bally'S Corp earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads -1.1, placing it in the Distress zone. 4 forensic signals were flagged in its latest SEC filings, led by accruals ratio (% of noa).

What the filings flag

+65.2%

FY2024→FY2025

Accruals ratio (% of NOA). Net operating assets grew +65.2% relative to their own average in FY2025 — scaled by NOA itself, not total assets (see the Forensic Screens card's differently-scaled Sloan Accrual Ratio for that read). Accruals are building sharply — a large slice of profit sits in operating assets, not cash; Richardson/Sloan link high accruals to weaker future returns as they reverse. The build is led by receivables up +250% on the year and inventory up +189% on the year.

-4.1%

FY2024

Return on invested capital. Return on invested capital is -4.1% in the latest fiscal year and slipping from 1% — well below its ~8% cost of capital, so reinvested dollars may be destroying value, not building it.

stopped

FY2023→FY2024

Shareholder returns — halted. Capital returns have STOPPED — $99M of buybacks + dividends in FY2023, but ~$0 in FY2024. A halt usually means the company is conserving cash.

$309M

FY2020–FY2024

Goodwill impairments. Took $309M of goodwill writedowns across 3 years (FY2020 ($5M), FY2022 ($232M), FY2024 ($72M)). Writedowns mean past acquisitions underperformed what was paid for them.

Key fundamentals

Latest Revenue$2.45B

Revenue Growth YoY+0.1%

Revenue CAGR (3yr)+22.8%

Net Margin-23.2%

Free Cash Flow-$85.8M

Return on Equity-57.1%

Debt / Equity4.52x

The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Bally'S Corp's actual 10-K/10-Q/8-K filings?

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Data from SEC EDGAR public filings · metrics as of Aug 11, 2026. Forensic signals flag probability, not certainty.