RSIRush Street Interactive, Inc.
Is the business good?
The checks split: earnings fully cash-backed (2.3×) and margins widening, but returns that lean on debt.
Mixed fundamental signals. Nine pass/fail tests of year-over-year health from the filings.
Operating profit is fully backed by cash.
Positive operating leverage, operating profit is growing faster than sales, so margins widen as the business scales.
Leverage-amplified, a high assets-to-equity ratio does much of the work. ROE 21% = margin × turnover × leverage.
Unless marked, from derived.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is RSI?
Rush Street Interactive, Inc. keeps 10% of every revenue dollar as operating profit, against 2.2% for the median Gambling name.
Operating margin · Gambling median 2.2% · 12 months to Q2 2026
- Cash conversion
- 2.29×
Cash conversion · 2.37× a year ago · operating cash flow covers the operating profit after tax
- Share count, year on year
- −51%
Share count, year on year · bought back, each share owns more of the company
- Gross margin
- 35%
Gross margin
| Year | Operating margin |
|---|---|
| FY2020 | −48% |
| FY2021 | −19% |
| FY2022 | −21% |
| FY2023 | −7.5% |
| FY2024 | 2.7% |
| FY2025 | 7.7% |
Details›
- Gross margin12 months to Q2 2026
- 35%
- Operating margin12 months to Q2 2026
- 10%
- Net margin12 months to Q2 2026
- 2.3%
- Free cash flow margin
- 13%
- Revenue, trailing twelve months
- $1.37B
- Free cash flow, trailing twelve months
- $182M
- Net income, trailing twelve months
- $32M
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.