Tearsheet

Rush Street Interactive (RSI)

Market Price (12/18/2025): $19.22 | Market Cap: $1.8 Bil
Sector: Consumer Discretionary | Industry: Casinos & Gaming

Rush Street Interactive (RSI)

Market Price (12/18/2025): $19.22
Market Cap: $1.8 Bil
Sector: Consumer Discretionary
Industry: Casinos & Gaming

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0	Cash is significant % of market cap Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -14%	Expensive valuation multiples P/EPrice/Earnings or Price/(Net Income) is 65x
1	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 23%	Valuation getting more expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 78%
2	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 11%	Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.6%
3	Megatrend and thematic drivers Megatrends include Markets & Betting, Digital Content & Streaming, and Fintech & Digital Payments. Themes include Prediction Markets, Show more.	Key risks RSI key risks include [1] its premium valuation, Show more.

0	Cash is significant % of market cap Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -14%
1	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 23%
2	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 11%
3	Megatrend and thematic drivers Megatrends include Markets & Betting, Digital Content & Streaming, and Fintech & Digital Payments. Themes include Prediction Markets, Show more.
4	Expensive valuation multiples P/EPrice/Earnings or Price/(Net Income) is 65x
5	Valuation getting more expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 78%
6	Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.6%
7	Key risks RSI key risks include [1] its premium valuation, Show more.

Valuation, Metrics & Events

	12/18/25	2024	2023	2022	2021
Share Price CYE	$19.22	$13.72	$4.49	$3.59	$16.50
Market Cap CYE ($ Bil)	1.8	1.2	0.3	0.2	1.0
Total Debt ($ Bil)	0.0	0.0	0.0	0.0	0.0
Total Cash ($ Bil)	0.3	0.2	0.2	0.2	0.3
Enterprise Value ($ Bil)	1.6	1.2	0.3	0.2	1.0
Valuation Ratios
P/S TTM	1.86	1.21	0.45	0.39	1.90
P/EBIT TTM	28.00	46.16	-5.96	-1.83	-9.85
P/FCF TTM	22.20	14.57	-8.29	-2.57	-11.19
P/E TTM	65.60	469.89	-16.80	-5.90	-31.95
Sector Ratios
P/S TTM (Sector)	0.84	0.82	0.91	0.85	1.37
P/EBIT TTM (Sector)	8.72	8.65	8.16	6.77	9.44
P/FCF TTM (Sector)	11.45	12.48	9.36	7.26	10.16
P/E TTM (Sector)	10.73	11.10	10.35	8.39	10.68

	12/18/25	2024	2023
Share Price CYE	$19.22	$13.72	$4.49
Market Cap CYE ($ Bil)	1.8	1.2	0.3
Total Debt ($ Bil)	0.0	0.0	0.0
Total Cash ($ Bil)	0.3	0.2	0.2
Enterprise Value ($ Bil)	1.6	1.2	0.3
Valuation Ratios
P/S TTM	1.86	1.21	0.45
P/EBIT TTM	28.00	46.16	-5.96
P/FCF TTM	22.20	14.57	-8.29
P/E TTM	65.60	469.89	-16.80
Sector Ratios
P/S TTM (Sector)	0.84	0.82	0.91
P/EBIT TTM (Sector)	8.72	8.65	8.16
P/FCF TTM (Sector)	11.45	12.48	9.36
P/E TTM (Sector)	10.73	11.10	10.35

	RSI	S&P 500
REVENUE GROWTH	VERY GOOD
Rev LTM ($ Bil)	1.1
Rev Chg Q	19.7%	7.3%
Rev Chg LTM	23.1%	6.0%
Rev Chg 3Y Avg	24.1%	5.5%
PROFITABILITY	POOR
Op Inc LTM ($ Bil)	0.1
CFO LTM ($ Bil)	0.1
Net Inc LTM ($ Bil)	0.0
Op Mgn LTM	6.6%	18.8%
CFO/Rev LTM	11.5%	20.4%
Net Inc Mgn	2.8%	13.1%
VALUATION	HIGH
P/S	1.9	3.2
P/CFO	16.2	16.0
P/FCF	22.2	20.8
P/E	65.6	23.5
STABILITY	VERY GOOD
Debt/Equity	0.00	0.21
Cash/Assets	0.46	0.07

AI Generated Analysis | Feedback

Metric	Value	Date	Source
Monthly Active Users in the United States and Canada	approximately 225,000	9302025	Link
Monthly Active Users in Latin America	approximately 354,000	3312025	Link
Average Revenue per Monthly Active User in the United States and Canada	$365	9302025	Link
Average Revenue per Monthly Active User in Latin America	$36	3312025	Link

Upcoming
2/25/2026	Earnings Release	Rev: - EPS: -

RSI Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

AI Generated Analysis | Feedback

Here are five key points explaining the approximate -13.9% stock movement for Rush Street Interactive (RSI) between August 31, 2025, and December 18, 2025: 1. Concerns over Valuation Amidst High P/E Ratios: Despite reporting strong financial results, some investors expressed concerns regarding Rush Street Interactive's valuation, questioning whether the stock's premium could be sustained against industry norms, leading to a downward adjustment in market perception.

2. Negative Trends in Market Share: Analysts identified and assessed negative trends in the company's market share as worse than expected, contributing to a cautious outlook among investors.

Stock Movement Drivers

Fundamental Drivers

The -9.3% change in RSI stock from 9/17/2025 to 12/17/2025 was primarily driven by a -23.0% change in the company's P/E Multiple.

	9172025	12172025	Change
Stock Price ($)	21.16	19.19	-9.31%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	1017.90	1063.70	4.50%
Net Income Margin (%)	2.48%	2.83%	14.15%
P/E Multiple	79.75	61.37	-23.04%
Shares Outstanding (Mil)	95.05	96.22	-1.23%
Cumulative Contribution			-9.32%

LTM = Last Twelve Months as of date shown

Market Drivers

9/17/2025 to 12/17/2025

	Return	Correlation
RSI	-9.3%
Market (SPY)	1.9%	21.4%
Sector (XLY)	-0.0%	22.9%

Fundamental Drivers

The 36.1% change in RSI stock from 6/18/2025 to 12/17/2025 was primarily driven by a 225.0% change in the company's Net Income Margin (%).

	6182025	12172025	Change
Stock Price ($)	14.10	19.19	36.10%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	969.06	1063.70	9.77%
Net Income Margin (%)	0.87%	2.83%	225.00%
P/E Multiple	156.90	61.37	-60.88%
Shares Outstanding (Mil)	93.85	96.22	-2.53%
Cumulative Contribution			36.01%

LTM = Last Twelve Months as of date shown

Market Drivers

6/18/2025 to 12/17/2025

	Return	Correlation
RSI	36.1%
Market (SPY)	12.7%	19.0%
Sector (XLY)	15.0%	16.4%

Fundamental Drivers

The 38.4% change in RSI stock from 12/17/2024 to 12/17/2025 was primarily driven by a 30.5% change in the company's P/S Multiple.

	12172024	12172025	Change
Stock Price ($)	13.87	19.19	38.36%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	863.77	1063.70	23.15%
P/S Multiple	1.33	1.74	30.49%
Shares Outstanding (Mil)	82.85	96.22	-16.15%
Cumulative Contribution			34.75%

LTM = Last Twelve Months as of date shown

Market Drivers

12/17/2024 to 12/17/2025

	Return	Correlation
RSI	38.4%
Market (SPY)	12.1%	43.7%
Sector (XLY)	1.5%	42.1%

Fundamental Drivers

The 459.5% change in RSI stock from 12/18/2022 to 12/17/2025 was primarily driven by a 340.3% change in the company's P/S Multiple.

	12182022	12172025	Change
Stock Price ($)	3.43	19.19	459.48%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	557.24	1063.70	90.89%
P/S Multiple	0.39	1.74	340.26%
Shares Outstanding (Mil)	64.06	96.22	-50.21%
Cumulative Contribution			318.42%

LTM = Last Twelve Months as of date shown

Market Drivers

12/18/2023 to 12/17/2025

	Return	Correlation
RSI	364.6%
Market (SPY)	44.9%	41.0%
Sector (XLY)	35.9%	37.3%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
RSI Return	�	-24%	-78%	25%	206%	43%	�
Peers Return	134%	-7%	-39%	55%	-5%	-15%	66%
S&P 500 Return	16%	27%	-19%	24%	23%	14%	108%
Monthly Win Rates [3]
RSI Win Rate	75%	33%	33%	58%	67%	67%
Peers Win Rate	63%	45%	33%	55%	47%	62%
S&P 500 Win Rate	58%	75%	42%	67%	75%	73%
Max Drawdowns [4]
RSI Max Drawdown	�	-55%	-82%	-22%	-18%	-29%
Peers Max Drawdown	-57%	-29%	-52%	-10%	-26%	-30%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: DKNG, FLUT, MGM, CZR, PENN.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/17/2025 (YTD)

How Low Can It Go

Unique Key	Event	RSI	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-88.9%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	802.2%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	Not Fully Recovered days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-23.5%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	30.7%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	93 days	148 days

Compare to CHDN, BYD, MCRI, FLL, LVS

In The Past

Rush Street Interactive's stock fell -88.9% during the 2022 Inflation Shock from a high on 1/20/2021. A -88.9% loss requires a 802.2% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Rush Street Interactive (RSI)

Rush Street Interactive, Inc. operates as an online casino and sports betting company in the United States and Latin America. It provides real-money online casino, online and retail sports betting, and social gaming services. In addition, the company offers full suite of games comprising of bricks-and-mortar casinos, table games, and slot machines. The company markets its online casino and sports betting under BetRivers.com, PlaySugarHouse.com, and RushBet.co brands. Rush Street Interactive, Inc. was founded in 2012 and is headquartered in Chicago, Illinois.

AI Generated Analysis | Feedback

Here are 1-3 brief analogies to describe Rush Street Interactive (RSI):

Rush Street Interactive is like DraftKings or FanDuel, offering online sports betting and casino games under brands like BetRivers and PlaySugarHouse.
Think of it as the online sports betting and iGaming division of a company like MGM Resorts or Caesars Entertainment, but operating as a standalone, digital-first enterprise.

AI Generated Analysis | Feedback

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Online Casino (iGaming) Services: Rush Street Interactive offers a wide array of digital casino games, including slots, table games, and live dealer experiences, for real-money wagering through its platforms.
Online Sports Betting Services: The company facilitates real-money wagers on a diverse range of sports events and leagues via its digital sportsbook platforms.
Social Casino & Sportsbook (Free-to-Play) Services: RSI provides free-to-play versions of casino games and sports betting, often used for entertainment and brand engagement without real-money stakes.

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AI Generated Analysis | Feedback

Rush Street Interactive (RSI) primarily sells its online casino (iGaming) and sports betting services directly to individual consumers through its BetRivers and PlaySugarHouse brands. Therefore, the company's major customers are individuals rather than other companies.

Customer Categories

RSI serves individuals who can be broadly categorized based on their primary gaming preferences and engagement with the platform:

Online Casino Players (iGaming): These customers primarily engage in various online casino games offered on RSI's platforms, including a wide array of slots, classic table games (like blackjack, roulette, baccarat), and live dealer games.
Online Sports Bettors: These customers primarily utilize RSI's platforms to place bets on a diverse range of sports events, covering numerous leagues, sports, and betting markets.
Hybrid Players: A substantial segment of RSI's customer base comprises individuals who engage in both online casino gaming and sports betting. These players seamlessly switch between the two offerings, leveraging the integrated platforms to enjoy a full spectrum of online gambling entertainment.

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Richard Schwartz, Chief Executive Officer

Richard Schwartz co-founded Rush Street Interactive in 2012, initially serving as President before becoming Chief Executive Officer in August 2021. Prior to his time at RSI, Schwartz led the interactive business for WMS Industries, where he was responsible for launching the award-winning UK-facing online casino, Jackpot Party. His professional background also includes an executive role at Telecom Italia Lab USA and work as an intellectual property attorney in Silicon Valley. Schwartz is an inventor on over 80 patents/patent applications.

Kyle Sauers, President and Chief Financial Officer

Kyle Sauers joined Rush Street Interactive in 2020 as Chief Financial Officer and was promoted to President in October 2025, while continuing to serve as CFO. Before joining RSI, Sauers was the Chief Financial Officer of Echo Global Logistics from 2013 to 2020. His previous experience also includes serving as General Manager of Varian Medical Systems' Security & Inspection Products Division, a role he took on after Varian acquired Bio-Imaging Research, where he had been CFO and a board member. Additionally, Sauers spent eight years as Chief Financial Officer at Sphere Communications and started his career at Arthur Andersen LLP.

Mattias Stetz, Chief Operating Officer

Mattias Stetz has served as Rush Street Interactive's Chief Operating Officer since April 2016, overseeing marketing and operations. Before joining RSI, Stetz held an executive position at Kindred Group plc (formerly Unibet) from 2004 to 2016, including a tenure as Chief Commercial Officer from 2009 to 2016. He possesses extensive experience in marketing, sports betting operations, and media content creation within the sports wagering sector.

Tammi Barlow, Director of Corporate Social Responsibility

Tammi Barlow was appointed as Rush Street Interactive's Director of Corporate Social Responsibility in September 2021. In this role, she is responsible for developing and executing RSI's corporate social responsibility strategy, which encompasses responsible gaming initiatives, as well as diversity, equity, and inclusion, and environmental, social, and governance efforts. Prior to RSI, Barlow served as Director of Responsible Gaming and Corporate Social Responsibility at Caesars Entertainment, Inc., following its acquisition of William Hill PLC. Her background also includes roles as Head of Responsible Gaming at William Hill PLC, Director of Responsible Gaming and Corporate Social Responsibility at William Hill US, and Manager of Responsible Gaming & Community Relations at International Game Technology (IGT).

Laura McAllister Cox, Chief Compliance Officer

Laura McAllister Cox is Rush Street Interactive's Chief Compliance Officer. She is a seasoned legal advisor to the gaming industry and a regulatory and compliance professional. Before formally joining RSI, Ms. Cox supported the company's compliance efforts for over five years as Vice President of Regulatory Compliance and Legal Counsel at Rush Street Gaming, LLC.

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Rush Street Interactive (RSI) faces several key risks to its business operations. The most significant risks include:

Regulatory Volatility and Tax Changes: The online gambling industry is highly sensitive to changes in laws, regulations, and tax rates, particularly in key growth markets like Latin America. Sudden tax hikes, such as the temporary 19% VAT on deposits in Colombia, have directly impacted or have the potential to impact RSI's Adjusted EBITDA and overall profitability. The company's ability to manage and sustain growth is highly dependent on a stable and favorable regulatory landscape and tax environment in the jurisdictions where it operates.
Intense Competition: Rush Street Interactive operates in a highly competitive online casino and sports betting industry, facing significant rivalry from larger and more established players. This intense competition can put pressure on customer acquisition costs, market share, and pricing, potentially impacting RSI's financial performance.
Reliance on Growth and Premium Valuation: RSI's current premium valuation, as evidenced by its high price-to-earnings (P/E) ratio, implies a strong expectation of continued high growth. If the company fails to meet these growth projections, particularly in expanding markets like Latin America where it has seen significant user growth, its valuation could be at risk. Slower user growth as markets mature or increased exposure to regional regulatory and tax risks could negatively impact long-term EBITDA margins and profit growth.

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Increased competition from well-capitalized media and sports-focused companies leveraging existing audiences and brand recognition (e.g., ESPN Bet from PENN Entertainment and ESPN, and Fanatics Betting and Gaming).
Intensified competition and pressure on customer acquisition costs due to industry consolidation and the growing market power of top-tier operators (e.g., DraftKings, FanDuel, MGM, Caesars).

AI Generated Analysis | Feedback

Rush Street Interactive (RSI) operates in the online casino (iGaming), online sports wagering, and retail sports wagering markets, with social gaming also being a product offering.

RSI estimates its total addressable market (TAM) at maturity to be approximately $145 billion. This overall market is segmented by region:

United States: $109.8 billion
Canada: $6.6 billion
Latin America: $28.9 billion by the end of 2028.

More specifically, the addressable markets for their main products or services in key regions include:

United States

Online Casino (iGaming): The U.S. iGaming market generated approximately $8.41 billion in 2024. Separately, the U.S. online gambling market, which includes both casino and sports betting, was estimated at $12.68 billion in 2024 and is projected to reach $22.19 billion by 2030.
Online Sports Betting: The U.S. sports betting market was estimated at $17.94 billion in 2024 and is expected to grow to $33.18 billion by 2030. Another estimate for the U.S. sports betting market size was $9.6 billion in 2024, projected to reach $27.4 billion by 2033.

Canada

The addressable market for Rush Street Interactive in Canada is stated as $6.6 billion. The Canadian online gambling market, as part of North America, is expected to grow at a compound annual growth rate (CAGR) of 14.5% from 2025 to 2030.

Latin America

The total addressable market for Rush Street Interactive in Latin America is estimated at $28.9 billion by the end of 2028.
Online Gambling (overall, including casino and sports betting): The Latin America online gambling market generated $5.33 billion in 2024 and is expected to reach $10.41 billion by 2030. This market is also projected to reach $6 billion by the end of 2025 and nearly $10 billion by the end of 2028.
Online Sports Betting: The Latin America sports betting market generated $4.22 billion in 2024 and is expected to reach $6.46 billion by 2030.
Online Casino: The Latin America online casino market generated $799.1 million in 2024 and is expected to reach $1.31 billion by 2030.

AI Generated Analysis | Feedback

Rush Street Interactive (RSI) is expected to drive future revenue growth over the next 2-3 years through several key strategies:

Growth in Online Casino (iCasino) Markets: RSI continues to demonstrate strong performance and a strategic focus on its online casino offerings. The company's Q3 2025 results highlighted continued momentum and accelerated growth in key markets, largely driven by its online casino segment. Notably, online casino markets in North America experienced a 46% year-over-year growth in Monthly Active Users (MAUs). RSI is positioned as one of the top four U.S. iCasino operators, active in numerous states.
Expansion to New Markets and Geographies: The company plans to expand its iCasino market presence, with a specific focus on launching in the Alberta market by 2026. RSI has shown exceptional performance in specific regions like Delaware (74% net revenue growth), Michigan (48% growth), New Jersey (37%), Ontario (24%), and Pennsylvania (15%). Latin American markets, particularly Mexico and Colombia, are also contributing to sustained momentum, with Latin America MAUs increasing by 30% to 415,000 users.
Customer Acquisition and Engagement: Increasing its Monthly Active Users (MAUs) is a direct driver of revenue growth for RSI. North American MAUs increased by 34% year-over-year to 225,000. This growth is attributed to record player acquisition and robust player engagement within its higher-value markets.
Improved User Monetization (ARPMUA): RSI has shown an increase in monetization, with its average revenue per monthly active user (ARPMUA) in the U.S. and Canada reaching a quarterly high of $391. This represents a 4% year-over-year jump, indicating that the company is effectively increasing the revenue generated from its existing user base.
Strategic Focus on Higher-Value Markets: Management's commentary frequently emphasizes a focus on "higher-value markets." This strategy suggests an optimization of its market presence and product offerings to prioritize segments and regions with greater revenue potential, contributing to more efficient and profitable growth.

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Share Repurchases

On October 24, 2024, Rush Street Interactive's board of directors authorized a share repurchase program of up to $50 million of its Class A common stock.
During the second quarter of 2025, RSI repurchased $2.5 million of Class A common stock under the authorized program, leaving approximately $42 million available for future repurchases.

Share Issuance

Rush Street Interactive became a publicly traded company in 2020 through a merger with dMY Technology Group Inc., which involved a significant issuance of shares.
As of November 2025, the number of outstanding shares was 95.05 million, reflecting an increase from 43.57 million at the end of 2020, through various issuances including share-based compensation.
By June 30, 2021, 11,442,389 shares of Class A Common Stock were issued due to the exercise of public warrants.

Outbound Investments

RSI has pursued strategic expansion into new geographic markets, including various U.S. states and Latin American countries such as Colombia, Mexico, and Peru, with potential further expansion in Chile, Ecuador, Argentina, and Brazil.
In late 2023, the company made a strategic investment in market access by becoming the exclusive operator for the Delaware Lottery's iCasino offering.
The company continuously invests in its proprietary technology platform and personnel, particularly in product development, engineering, and operations, to enhance user experience and support ongoing growth.

Capital Expenditures

Capital expenditures for the last 12 months (as of October 29, 2025) were approximately $0.76 million.
RSI anticipates that capital expenditures will increase in the immediate future to support its expansion in North America, Latin America, and globally.
The primary focus of these capital expenditures is on significant investment in the online gaming platform and associated personnel.

Better Bets than Rush Street Interactive (RSI)

	RSI	Better Performance than RSI
Metric	Value	INDUSTRY: Casinos & Gaming
Rev Chg LTM	23.1%	SBET (239.0%), GAMB (24.2%)
Rev Chg 3Y Avg	24.1%	LVS (51.6%), DKNG (45.2%), GAMB (33.6%), WYNN (25.0%)
Op Mgn LTM	6.6%	LNW (25.8%), CHDN (25.1%), LVS (23.0%), WYNN (20.4%), MGM (7.9%)
CFO/Rev LTM	11.5%	CHDN (27.9%), LVS (22.3%), WYNN (19.0%), MGM (14.7%), DKNG (12.2%)
FCF/Rev LTM	8.4%	LNW (12.1%), WYNN (10.4%), LVS (9.9%), DKNG (9.7%), CHDN (9.2%)
Total Yield	1.5%	BYD (27.0%), LVS (6.4%), CHDN (5.9%), LNW (5.7%), WYNN (5.2%)
P/S	1.9	CZR (0.5), MGM (0.5), BRSL (1.3), BYD (1.7), RRR (1.8)
P/Op Inc	28.0	MGM (6.9), LNW (8.5), WYNN (9.1), CHDN (9.4), LVS (13.0)

	RSI	Better Performance than RSI
Metric	Value	SECTOR: Consumer Discretionary
Rev Chg LTM	23.1%	CVNA (45.5%), MELI (36.9%), ONON (33.3%), RIVN (28.2%), DASH (24.5%)
Rev Chg 3Y Avg	24.1%	LVS (51.6%), CCL (45.9%), MELI (39.5%), RCL (37.7%), DASH (27.8%)
Op Mgn LTM	6.6%	MCD (46.1%), BKNG (34.5%), HD (13.0%), AMZN (11.4%), TJX (11.3%)
CFO/Rev LTM	11.5%	MCD (39.9%), MELI (37.5%), BKNG (33.2%), AMZN (18.1%), TSLA (16.5%)
FCF/Rev LTM	8.4%	MELI (32.9%), BKNG (31.9%), MCD (28.1%), HD (8.4%), LOW (8.4%)
Total Yield	1.5%	HD (6.7%), MCD (6.2%), TJX (4.3%), BKNG (3.6%), AMZN (3.0%)
P/S	1.9	F (0.3), GM (0.3), DHI (1.3), LOW (1.6), CPNG (1.7)
P/Op Inc	28.0	LOW (13.5), HD (16.4), MAR (17.1), MCD (17.9), BKNG (19.5)

	RSI	Better Performance than RSI
Metric	Value	ALL OTHER SECTORS
Rev Chg LTM	23.1%	NVDA (65.2%), PLTR (47.2%), LLY (36.8%), AMD (31.8%), AVGO (28.0%)
Rev Chg 3Y Avg	24.1%	NVDA (91.6%), APP (36.0%), ANET (29.4%), PLTR (29.3%), SHOP (26.8%)
Op Mgn LTM	6.6%	NVDA (58.8%), MSFT (46.3%), META (43.2%), GOOGL (32.2%), AAPL (31.9%)
CFO/Rev LTM	11.5%	META (56.8%), MSFT (50.0%), NVDA (44.4%), GOOGL (39.3%), AAPL (26.6%)
FCF/Rev LTM	8.4%	NVDA (41.3%), MSFT (26.6%), META (23.7%), AAPL (23.5%), GOOGL (19.1%)
Total Yield	1.5%	GOOGL (4.6%), META (3.5%), MSFT (3.4%), AAPL (3.0%), NVDA (2.2%)
P/S	1.9	UNH (0.7), WMT (1.2), XOM (1.5), COST (1.5), CVX (1.6)
P/Op Inc	28.0	V (16.6), PG (17.5), JNJ (18.5), META (22.6), GOOGL (23.7)

		Best Bets In Consumer Discretionary Sector
	RSI	ABNB	BKNG	MCD	ETSY	LOPE	ALSN	GRMN	CROX	WH	YUM
What You Pay
P/E	65.5	28.2	34.7	25.7	36.2	28.8	10.2	30.2	19.7	18.1	29.2
P/EBIT	28.0	27.4	20.8	17.7	15.9	19.2	7.5	26.7	17.2	10.6	16.9
What You Get
Rev Chg Q	19.7%	9.7%	12.7%	3.0%	2.4%	9.6%	-15.9%	11.7%	3.4%	-3.5%	8.4%
Rev Chg LTM	23.1%	10.2%	13.0%	1.2%	2.0%	7.0%	-4.2%	16.6%	2.0%	3.4%	11.6%
Rev Chg 3Y Avg	24.1%	14.2%	17.8%	4.2%	4.9%	6.5%	4.6%	12.2%	14.5%	-2.5%	6.4%
FCF/Rev 3Y Avg	2.3%	40.2%	35.6%	27.4%	23.8%	21.8%	21.0%	20.5%	19.8%	19.0%	18.9%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 14%, alpha of 2.9%, and sharpe of 0.61

Latest Trefis Analyses

	Title	Topic	Date
0	DASHBOARDS
1	Rush Street Interactive Earnings Notes
2	Rush Street Interactive Stock Jump Looks Great, But How Secure Is That Gain?	Return
3	RSI vs the Competition: Which Stock Comes Out on Top?
4	Rush Street Interactive (RSI) Debt Comparison	Financials
5	Rush Street Interactive (RSI) Operating Cash Flow Comparison	Financials
6	Rush Street Interactive (RSI) Operating Income Comparison	Financials
7	Rush Street Interactive (RSI) Net Income Comparison	Financials
8	Rush Street Interactive (RSI) EBITDA Comparison	Financials
9	Rush Street Interactive (RSI) Tax Expense Comparison	Financials
10	Rush Street Interactive (RSI) Revenue Comparison	Financials
11	ARTICLES
12	Stacking Up RSI Against Its Peers – Is It Still a Buy?		August 21st, 2025
13	RSI Stock Up 37% after 5-Day Win Streak		August 1st, 2025

	Title
0	DASHBOARDS
1	Rush Street Interactive Earnings Notes
2	Rush Street Interactive Stock Jump Looks Great, But How Secure Is That Gain?
3	RSI vs the Competition: Which Stock Comes Out on Top?
4	Rush Street Interactive (RSI) Debt Comparison
5	Rush Street Interactive (RSI) Operating Cash Flow Comparison
6	Rush Street Interactive (RSI) Operating Income Comparison
7	Rush Street Interactive (RSI) Net Income Comparison
8	Rush Street Interactive (RSI) EBITDA Comparison
9	Rush Street Interactive (RSI) Tax Expense Comparison
10	Rush Street Interactive (RSI) Revenue Comparison
11	ARTICLES
12	Stacking Up RSI Against Its Peers – Is It Still a Buy?
13	RSI Stock Up 37% after 5-Day Win Streak

Trade Ideas

Select past ideas related to RSI. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
BBWI_11302025_Dip_Buyer_1M_Insider_Buying_GTE_1Mil_EBITp+DE	11302025	BBWI	Bath & Body Works	Dip Buy	DB \| Insider Buys \| Low D/EDip Buy with Strong Insider Buying Buying dips for companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap	13.0%	13.0%	0.0%
HRB_11262025_Dip_Buyer_FCFYield	11262025	HRB	H&R Block	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	6.4%	6.4%	-0.1%
LRN_11262025_Dip_Buyer_FCFYield	11262025	LRN	Stride	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	3.7%	3.7%	-4.4%
ABNB_11212025_Dip_Buyer_FCFYield	11212025	ABNB	Airbnb	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	17.1%	17.1%	0.0%
MTN_11212025_Dip_Buyer_FCFYield	11212025	MTN	Vail Resorts	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	14.1%	14.1%	-1.6%

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
BBWI_11302025_Dip_Buyer_1M_Insider_Buying_GTE_1Mil_EBITp+DE	11302025	BBWI	Bath & Body Works	Dip Buy	DB \| Insider Buys \| Low D/EDip Buy with Strong Insider Buying Buying dips for companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap	13.0%	13.0%	0.0%
HRB_11262025_Dip_Buyer_FCFYield	11262025	HRB	H&R Block	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	6.4%	6.4%	-0.1%
LRN_11262025_Dip_Buyer_FCFYield	11262025	LRN	Stride	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	3.7%	3.7%	-4.4%
ABNB_11212025_Dip_Buyer_FCFYield	11212025	ABNB	Airbnb	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	17.1%	17.1%	0.0%
MTN_11212025_Dip_Buyer_FCFYield	11212025	MTN	Vail Resorts	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	14.1%	14.1%	-1.6%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
UDMY	Udemy	0.9	12.7%	-26.5%
TWO	Two Harbors Investment	1.2	12.1%	8.5%
IOVA	Iovance Biotherapeutics	0.9	12.0%	-65.9%
KOD	Kodiak Sciences	1.4	11.8%	171.1%
RXRX	Recursion Pharmaceuticals	2.1	11.4%	-30.8%
TTC	Toro	7.9	10.7%	2.0%
HUT	Hut 8	4.2	9.0%	96.0%
TPL	Texas Pacific Land	20.3	7.6%	-19.7%
AXGN	Axogen	1.5	7.0%	90.5%
SSII	SS Innovations International	1.1	6.7%	-25.6%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
NOW	ServiceNow	32.5	-80.0%	-85.2%
FDMT	4D Molecular Therapeutics	0.5	-20.1%	65.4%
IMNM	Immunome	1.7	-15.8%	86.3%
HNRG	Hallador Energy	0.7	-15.2%	51.2%
AMPX	Amprius Technologies	1.1	-14.6%	213.6%
BNTC	Benitec Biopharma	0.4	-13.1%	-14.6%
FLNC	Fluence Energy	2.4	-12.9%	16.9%
IMSR	Terrestrial Energy	0.7	-12.6%
BE	Bloom Energy	18.1	-12.1%	246.6%
BW	Babcock & Wilcox Enterprises	0.5	-12.1%	182.9%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
TLRY	Tilray Brands	13.7	55.9%	-3.2%
PL	Planet Labs PBC	5.0	27.3%	307.7%
EEX	Emerald	0.9	25.9%	-2.8%
EVCM	EverCommerce	2.2	17.2%	10.4%
CNL	Collective Mining	1.1	15.8%	229.3%
ENVA	Enova International	4.1	15.8%	70.8%
IMVT	Immunovant	4.6	14.5%	8.9%
QURE	uniQure	1.3	14.3%	30.4%
INNV	InnovAge	0.8	14.2%	49.6%
PGEN	Precigen	1.2	13.4%	255.4%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
NOW	ServiceNow	32.5	-81.7%	-85.2%
RZLT	Rezolute	0.2	-81.6%	-59.0%
FRMI	Fermi	6.3	-41.1%
LENZ	LENZ Therapeutics	0.5	-34.6%	-43.3%
BETR	Better Home & Finance	0.5	-30.9%	292.0%
LWLG	Lightwave Logic	0.4	-29.5%	41.4%
APLD	Applied Digital	5.6	-29.0%	188.0%
CRWV	CoreWeave	31.4	-26.8%
WULF	TeraWulf	4.5	-26.6%	104.4%
BW	Babcock & Wilcox Enterprises	0.5	-26.5%	182.9%

1 Month Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
OLMA	Olema Pharmaceuticals	2.8	282.6%	459.2%
WVE	WAVE Life Sciences	2.7	128.5%	32.1%
ALMS	Alumis	0.8	89.8%	34.6%
NUVB	Nuvation Bio	2.9	82.4%	220.3%
SEMR	SEMrush	1.8	75.7%	-0.2%
TE	T1 Energy	0.8	70.4%
ANF	Abercrombie & Fitch	5.6	68.4%	-21.6%
CBLL	CeriBell	0.8	67.5%	-16.6%
FTRE	Fortrea	1.5	65.4%	-13.2%
VERA	Vera Therapeutics	3.1	64.7%	14.8%

1 Month Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
NOW	ServiceNow	32.5	-81.3%	-85.2%
RZLT	Rezolute	0.2	-80.3%	-59.0%
JANX	Janux Therapeutics	0.9	-50.9%	-73.7%
FRMI	Fermi	6.3	-50.6%
AGIO	Agios Pharmaceuticals	1.5	-43.6%	-22.6%
IMSR	Terrestrial Energy	0.7	-38.9%
LENZ	LENZ Therapeutics	0.5	-36.3%	-43.3%
LWLG	Lightwave Logic	0.4	-36.3%	41.4%
UAMY	United States Antimony	0.5	-33.7%	156.5%
BETR	Better Home & Finance	0.5	-33.6%	292.0%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
UDMY	Udemy	0.9	12.7%	-26.5%
TWO	Two Harbors Investment	1.2	12.1%	8.5%
IOVA	Iovance Biotherapeutics	0.9	12.0%	-65.9%
KOD	Kodiak Sciences	1.4	11.8%	171.1%
RXRX	Recursion Pharmaceuticals	2.1	11.4%	-30.8%
TTC	Toro	7.9	10.7%	2.0%
HUT	Hut 8	4.2	9.0%	96.0%
TPL	Texas Pacific Land	20.3	7.6%	-19.7%
AXGN	Axogen	1.5	7.0%	90.5%
SSII	SS Innovations International	1.1	6.7%	-25.6%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
NOW	ServiceNow	32.5	-80.0%	-85.2%
FDMT	4D Molecular Therapeutics	0.5	-20.1%	65.4%
IMNM	Immunome	1.7	-15.8%	86.3%
HNRG	Hallador Energy	0.7	-15.2%	51.2%
AMPX	Amprius Technologies	1.1	-14.6%	213.6%
BNTC	Benitec Biopharma	0.4	-13.1%	-14.6%
FLNC	Fluence Energy	2.4	-12.9%	16.9%
IMSR	Terrestrial Energy	0.7	-12.6%
BE	Bloom Energy	18.1	-12.1%	246.6%
BW	Babcock & Wilcox Enterprises	0.5	-12.1%	182.9%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
TLRY	Tilray Brands	13.7	55.9%	-3.2%
PL	Planet Labs PBC	5.0	27.3%	307.7%
EEX	Emerald	0.9	25.9%	-2.8%
EVCM	EverCommerce	2.2	17.2%	10.4%
CNL	Collective Mining	1.1	15.8%	229.3%
ENVA	Enova International	4.1	15.8%	70.8%
IMVT	Immunovant	4.6	14.5%	8.9%
QURE	uniQure	1.3	14.3%	30.4%
INNV	InnovAge	0.8	14.2%	49.6%
PGEN	Precigen	1.2	13.4%	255.4%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
NOW	ServiceNow	32.5	-81.7%	-85.2%
RZLT	Rezolute	0.2	-81.6%	-59.0%
FRMI	Fermi	6.3	-41.1%
LENZ	LENZ Therapeutics	0.5	-34.6%	-43.3%
BETR	Better Home & Finance	0.5	-30.9%	292.0%
LWLG	Lightwave Logic	0.4	-29.5%	41.4%
APLD	Applied Digital	5.6	-29.0%	188.0%
CRWV	CoreWeave	31.4	-26.8%
WULF	TeraWulf	4.5	-26.6%	104.4%
BW	Babcock & Wilcox Enterprises	0.5	-26.5%	182.9%

Peer Comparisons for Rush Street Interactive

Peers to compare with:

Financials

	RSI	DKNG	FLUT	MGM	CZR	PENN	Median
Name	Rush Str.	DraftKin.	Flutter .	MGM Reso.	Caesars .	PENN Ent.
Mkt Price	19.19	34.05	217.72	36.20	23.75	14.37	28.90
Mkt Cap	1.8	16.9	38.3	9.9	4.9	2.1	7.4
Rev LTM	1,064	5,458	15,438	17,279	11,369	6,824	9,096
Op Inc LTM	70	-307	574	1,371	2,061	225	399
FCF LTM	89	532	742	1,369	379	-212	455
FCF 3Y Avg	30	78	-	1,396	306	-51	78
CFO LTM	122	668	1,408	2,546	1,307	504	987
CFO 3Y Avg	63	203	-	2,450	1,469	445	445

Growth & Margins

	RSI	DKNG	FLUT	MGM	CZR	PENN	Median
Name	Rush Str.	DraftKin.	Flutter .	MGM Reso.	Caesars .	PENN Ent.
Rev Chg LTM	23.1%	18.5%	13.8%	0.1%	0.9%	8.2%	11.0%
Rev Chg 3Y Avg	24.1%	45.2%	-	11.5%	2.5%	2.3%	11.5%
Rev Chg Q	19.7%	4.4%	16.8%	1.6%	-0.2%	4.8%	4.6%
QoQ Delta Rev Chg LTM	4.5%	0.9%	3.7%	0.4%	-0.0%	1.2%	1.0%
Op Mgn LTM	6.6%	-5.6%	3.7%	7.9%	18.1%	3.3%	5.2%
Op Mgn 3Y Avg	-1.3%	-15.5%	-	6.3%	20.5%	4.9%	4.9%
QoQ Delta Op Mgn LTM	1.0%	0.5%	-2.9%	-0.7%	-1.2%	-0.3%	-0.5%
CFO/Rev LTM	11.5%	12.2%	9.1%	14.7%	11.5%	7.4%	11.5%
CFO/Rev 3Y Avg	6.2%	3.0%	-	14.8%	12.9%	6.7%	6.7%
FCF/Rev LTM	8.4%	9.7%	4.8%	7.9%	3.3%	-3.1%	6.4%
FCF/Rev 3Y Avg	2.3%	0.1%	-	8.4%	2.7%	-0.8%	2.3%

Valuation

	RSI	DKNG	FLUT	MGM	CZR	PENN	Median
Name	Rush Str.	DraftKin.	Flutter .	MGM Reso.	Caesars .	PENN Ent.
Mkt Cap	1.8	16.9	38.3	9.9	4.9	2.1	7.4
P/S	1.9	3.4	2.5	0.5	0.5	0.4	1.2
P/EBIT	28.0	-75.8	191.6	11.7	2.6	-6.2	7.1
P/E	65.5	-69.4	-140.4	135.6	-23.2	-3.1	-13.1
P/CFO	16.2	27.8	27.2	3.7	4.3	5.5	10.8
Total Yield	1.5%	-1.4%	-0.7%	0.7%	-4.3%	-32.7%	-1.1%
Dividend Yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
FCF Yield 3Y Avg	-1.7%	0.2%	-	12.5%	4.0%	-2.6%	0.2%
D/E	0.0	0.1	0.3	3.3	4.4	4.0	1.8
Net D/E	-0.1	0.0	0.2	3.1	4.3	3.8	1.7

Returns

	RSI	DKNG	FLUT	MGM	CZR	PENN	Median
Name	Rush Str.	DraftKin.	Flutter .	MGM Reso.	Caesars .	PENN Ent.
1M Rtn	14.0%	18.1%	13.9%	15.3%	15.2%	5.3%	14.6%
3M Rtn	-9.3%	-20.1%	-22.0%	2.6%	-6.6%	-24.0%	-14.7%
6M Rtn	36.1%	-14.0%	-20.1%	6.7%	-14.4%	-16.8%	-14.2%
12M Rtn	38.4%	-16.4%	-20.3%	2.3%	-34.3%	-25.0%	-18.4%
3Y Rtn	459.5%	180.9%	55.8%	1.5%	-49.7%	-55.4%	28.7%
1M Excs Rtn	13.2%	17.4%	13.2%	14.6%	14.5%	4.5%	13.9%
3M Excs Rtn	-12.9%	-22.7%	-24.2%	-0.6%	-11.4%	-26.5%	-17.8%
6M Excs Rtn	23.7%	-26.4%	-32.5%	-5.7%	-26.8%	-29.2%	-26.6%
12M Excs Rtn	30.3%	-25.7%	-32.7%	-11.2%	-46.9%	-42.0%	-29.2%
3Y Excs Rtn	357.3%	69.5%	-20.9%	-70.3%	-121.2%	-126.9%	-45.6%

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	9/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	10/30/2025	2/28/2025	3/7/2024	3/2/2023	3/7/2022	3/25/2021	5/7/2021
Key Financials
Total Revenue	1,064	924	691	592	488	278	64
EBITDA	109	57	-22	-110	-90	-127	-21
Operating Income	70	24	-52	-125	-94	-133	-22
Net Income	30	2	-18	-39	-29	1	-22
EPS	0.32	0.03	-0.27	-0.61	-0.35	0.02	-0.50
Growth Rates
Total Revenue Growth	23.1%	33.7%	16.7%	21.3%	75.3%	337.4%	-
EBITDA Growth	176.8%	358.6%	80.2%	-22.7%	28.8%	-497.1%	-
Operating Income Growth	713.4%	147.1%	58.6%	-32.4%	29.3%	-497.6%	-
Net Income Growth	2305.8%	113.0%	52.6%	-32.9%	-2788.1%	104.8%	-
Margins
EBITDA Margin	10.3%	6.1%	-3.2%	-18.7%	-18.4%	-45.4%	-33.3%
Operating Income Margin	6.6%	2.6%	-7.5%	-21.1%	-19.3%	-47.9%	-35.1%
Net Income Margin	2.8%	0.3%	-2.6%	-6.5%	-6.0%	0.4%	-35.3%
Cash & Debt
Total Cash	273	229	168	180	281	256	7
Total Debt	6	5	4	2	2	1	0
Net Debt / (Cash)	-268	-225	-165	-178	-279	-254	-7
Cash Flows
Net Cash from Operations	122	106	-6	-60	-48	16	-2
Free Cash from Operations	89	77	-37	-89	-83	10	-8
Returns to Shareholders
Dividends	0	-0	-0	-0	-0	5	-0
Share Repurchases	8	-0	-0	-0	3	-0	-0

$ Mil \| FY: 12/31	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	10/30/2025	7/31/2025	5/1/2025	2/28/2025	10/31/2024	8/1/2024	5/2/2024	3/7/2024	11/2/2023	8/3/2023	5/4/2023	3/2/2023
Key Financials Quarterly
Total Revenue	278	269	262	254	232	220	217	194	170	165	162	166
Ebitda	30	34	24	21	15	12	9	4	-3	-6	-16	-24
Operating Income	19	24	15	12	6	4	2	-4	-12	-14	-22	-28
Net Income	6	17	5	2	1	-0	-1	-2	-4	-5	-7	-9
EPS	0.06	0.18	0.06	0.02	0.01	0.00	-0.01	-0.02	-0.06	-0.08	-0.11	-0.14
Key Financials TTM
Total Revenue TTM	1,064	1,018	969	924	864	802	746	691	663	641	620	592
Ebitda TTM	109	94	72	57	39	21	3	-22	-50	-63	-79	-110
Operating Income TTM	70	57	37	24	9	-10	-28	-52	-76	-85	-97	-125
Net Income TTM	30	25	8	2	-1	-7	-12	-18	-26	-28	-31	-39
Growth Rates Quarterly
Total Revenue Growth	19.7%	22.2%	20.7%	31.1%	36.6%	33.5%	33.9%	17.1%	14.8%	14.8%	20.3%	26.8%
EBITDA Growth	98.6%	190.6%	178.8%	418.4%	552.4%	286.1%	152.9%	117.0%	80.1%	71.9%	65.5%	62.0%
Operating Income Growth	201.2%	479.6%	851.5%	443.5%	155.2%	129.3%	106.9%	87.6%	43.2%	44.5%	55.9%	23.5%
Net Income Growth	408.8%	16788.0%	831.6%	217.3%	128.5%	98.1%	90.0%	80.8%	36.8%	38.3%	50.6%	55.0%
Margins Quarterly
EBITDA Margin	10.7%	12.7%	9.2%	8.3%	6.4%	5.3%	4.0%	2.1%	-1.9%	-3.8%	-10.1%	-14.6%
Operating Income Margin	7.0%	9.0%	5.6%	4.8%	2.8%	1.9%	0.7%	-1.8%	-6.9%	-8.7%	-13.6%	-17.1%
Net Income Margin	2.2%	6.2%	2.0%	0.8%	0.5%	-0.0%	-0.3%	-0.9%	-2.5%	-3.1%	-4.5%	-5.4%
Cash & Debt
Total Cash	273	241	228	229	216	194	191	168	171	128	147	180
Total Debt	6	6	6	5	5	2	1	4	1	1	2	2
Net Debt / (Cash)	-268	-234	-222	-225	-211	-191	-190	-165	-170	-126	-146	-178
Cash Flows Quarterly
FCF from Operations	41	26	29	26	29	20	31	1	30	-13	-24	-8
Cash Flows TTM
FCF from Operations TTM	122	110	104	106	81	82	49	-6	-14	-36	-48	-60
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-0	2	5	-0	-0	-0	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	-	-	-	-	-	149.0%	61.8%	-51.7%	-255.8%	-101.2%	-258.1%	-
Return on Invested Capital (ROIC) TTM
ROIC TTM	-	-	-	-	-	-84.3%	-282.4%	-189.3%	-417.7%	-150.9%	-282.9%	-

Segment Financials

Revenue by Segment

$ Mil	2024	2023	2022	2021	2020
Online gaming and retail sports betting business activities	691
Online casino and online sports betting		577	480	274	61
Retail sports betting		12	4	1	1
Social gaming		4	4	4	1
Total	691	592	488	278	64

Net Income by Segment

$ Mil	2024	2023	2022	2021	2020
Online gaming and retail sports betting business activities	-60
Total	-60

Price Behavior

Price Behavior

Market Price	$19.19
Market Cap ($ Bil)	1.8
First Trading Date	04/15/2020
Distance from 52W High	-14.8%
	50 Days	200 Days
DMA Price	$18.22	$15.92
DMA Trend	up	down
Distance from DMA	5.3%	20.6%
	3M	1YR
Volatility	52.3%	56.4%
Downside Capture	50.62	96.38
Upside Capture	-3.68	117.82
Correlation (SPY)	20.4%	43.6%

RSI Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	0.65	1.00	1.13	1.13	1.25	1.55
Up Beta	0.44	2.61	2.46	2.50	1.18	1.21
Down Beta	0.10	1.24	0.98	1.75	1.61	1.64
Up Capture	146%	-2%	11%	86%	126%	1248%
Bmk +ve Days	13	26	39	74	142	427
Stock +ve Days	8	17	27	67	131	390
Down Capture	40%	78%	133%	-3%	103%	109%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	11	24	35	55	114	344

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

1Y 5Y 10Y

Based On 1-Year Data

		Comparison of RSI With Other Asset Classes (Last 1Y)
	RSI	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	40.4%	3.6%	12.1%	61.5%	2.2%	-2.2%	-12.7%
Annualized Volatility	56.1%	24.7%	19.7%	19.3%	15.9%	17.7%	35.4%
Sharpe Ratio	0.81	0.09	0.46	2.36	-0.05	-0.28	-0.17
Correlation With Other Assets		42.1%	43.7%	5.6%	7.4%	29.5%	20.2%

ETFs used for asset classes: Sector ETF = XLY, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 5-Year Data

		Comparison of RSI With Other Asset Classes (Last 5Y)
	RSI	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	0.9%	9.8%	14.4%	18.3%	11.4%	4.8%	36.3%
Annualized Volatility	63.5%	23.8%	17.1%	15.5%	18.9%	18.9%	48.9%
Sharpe Ratio	0.28	0.37	0.68	0.95	0.49	0.17	0.63
Correlation With Other Assets		48.4%	46.9%	2.2%	8.7%	33.9%	26.6%

Based On 10-Year Data

		Comparison of RSI With Other Asset Classes (Last 10Y)
	RSI	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	12.8%	13.0%	14.5%	14.6%	6.1%	5.4%	70.7%
Annualized Volatility	63.3%	22.0%	18.0%	14.7%	17.7%	20.8%	55.9%
Sharpe Ratio	0.46	0.54	0.69	0.82	0.27	0.23	0.91
Correlation With Other Assets		45.3%	42.9%	2.9%	9.6%	30.0%	24.5%

Short Interest

Short Interest: As Of Date	11282025
Short Interest: Shares Quantity	8,615,433
Short Interest: % Change Since 11152025	-9.8%
Average Daily Volume	1,070,766
Days-to-Cover Short Interest	8.05
Basic Shares Quantity	96,223,133
Short % of Basic Shares	9.0%

Returns Analyses

	Title
0	Rush Street Interactive Stock Jump Looks Great, But How Secure Is That Gain?

Earnings Returns History

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
10/29/2025	-6.7%	-8.5%	1.6%
7/30/2025	25.5%	21.9%	39.0%
2/26/2025	-15.3%	-12.3%	-17.4%
10/30/2024	0.6%	0.7%	34.0%
7/31/2024	7.6%	-4.3%	-9.0%
3/6/2024	16.1%	10.0%	30.4%
11/1/2023	6.2%	24.9%	24.6%
8/2/2023	19.9%	7.8%	24.0%
...
SUMMARY STATS
# Positive	8	8	7
# Negative	7	7	8
Median Positive	10.3%	12.0%	24.6%
Median Negative	-6.7%	-12.3%	-15.0%
Max Positive	25.5%	24.9%	39.0%
Max Negative	-20.0%	-19.8%	-28.4%

SEC Filings

Expand for More

Report Date	Filing Date	Filing
9302025	10302025	10-Q 9/30/2025
6302025	7312025	10-Q 6/30/2025
3312025	5012025	10-Q 3/31/2025
12312024	2282025	10-K 12/31/2024
9302024	10312024	10-Q 9/30/2024
6302024	8012024	10-Q 6/30/2024
3312024	5022024	10-Q 3/31/2024
12312023	3072024	10-K 12/31/2023
9302023	11022023	10-Q 9/30/2023
6302023	8032023	10-Q 6/30/2023
3312023	5042023	10-Q 3/31/2023
12312022	3022023	10-K 12/31/2022
9302022	11032022	10-Q 9/30/2022
6302022	8052022	10-Q 6/30/2022
3312022	5062022	10-Q 3/31/2022
12312021	3072022	10-K 12/31/2021

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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Rush Street Interactive (RSI)

Market Price (12/18/2025): $19.22 | Market Cap: $1.8 BilSector: Consumer Discretionary | Industry: Casinos & Gaming

Rush Street Interactive (RSI)

Market Price (12/18/2025): $19.22Market Cap: $1.8 BilSector: Consumer DiscretionaryIndustry: Casinos & Gaming

Valuation, Metrics & Events

RSI Stock

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

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Return vs. Risk

Price Returns Compared

How Low Can It Go

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About Rush Street Interactive (RSI)

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United States

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Latin America

Interactive Breakdown

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Price Behavior

Based On 1-Year Data

Based On 5-Year Data

Based On 10-Year Data

Short Interest

Returns Analyses

Earnings Returns History

SEC Filings

Insider Activity

Industry Resources

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Market Price (12/18/2025): $19.22 | Market Cap: $1.8 Bil
Sector: Consumer Discretionary | Industry: Casinos & Gaming

Market Price (12/18/2025): $19.22
Market Cap: $1.8 Bil
Sector: Consumer Discretionary
Industry: Casinos & Gaming