Rush Street Interactive (RSI)
Market Price (12/20/2025): $19.61 | Market Cap: $1.9 BilSector: Consumer Discretionary | Industry: Casinos & Gaming
Rush Street Interactive (RSI)
Market Price (12/20/2025): $19.61Market Cap: $1.9 BilSector: Consumer DiscretionaryIndustry: 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
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -14% | Expensive valuation multiplesP/EPrice/Earnings or Price/(Net Income) is 62x |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 23% | Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 78% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 11% | Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.6% |
| Megatrend and thematic driversMegatrends include Markets & Betting, Digital Content & Streaming, and Fintech & Digital Payments. Themes include Prediction Markets, Show more. | Key risksRSI key risks include [1] its premium valuation, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -14% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 23% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 11% |
| Megatrend and thematic driversMegatrends include Markets & Betting, Digital Content & Streaming, and Fintech & Digital Payments. Themes include Prediction Markets, Show more. |
| Expensive valuation multiplesP/EPrice/Earnings or Price/(Net Income) is 62x |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 78% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.6% |
| Key risksRSI key risks include [1] its premium valuation, Show more. |
Valuation, Metrics & Events
RSI Stock
Why The Stock Moved
Qualitative Assessment
AI Generated Analysis | Feedback
Rush Street Interactive (RSI) experienced an approximate 12.6% decline in its stock price between August 31, 2025, and December 20, 2025, despite reporting strong third-quarter 2025 financial results. Several factors contributed to this downward movement:
1. Anticipated Financial Headwind from Colombia VAT: A significant concern for investors was the projected $25–30 million EBITDA headwind anticipated for 2025, stemming from a 19% temporary Value Added Tax (VAT) imposed on gaming deposits in Colombia. This regulatory change was a known issue around the time of the Q3 earnings, raising questions about future profitability in a key market.
2. Disappointing Investor Reaction Following Strong Q3 Earnings: Despite Rush Street Interactive surpassing Q3 2025 revenue and adjusted earnings per share (EPS) estimates and subsequently raising its full-year guidance on October 29, 2025, the stock's price declined in the immediate period after the announcement. This suggests that the positive results may have already been priced into the stock, or other underlying concerns outweighed the strong quarterly performance.
Stock Movement Drivers
Return vs. Risk
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| RSI Return | � | -24% | -78% | 25% | 206% | 45% | � |
| Peers Return | 134% | -7% | -39% | 55% | -5% | -14% | 67% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 16% | 112% |
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 12/19/2025 (YTD)
How Low Can It Go
| Event | RSI | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -88.9% | -25.4% |
| % Gain to Breakeven | 802.2% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -23.5% | -33.9% |
| % Gain to Breakeven | 30.7% | 51.3% |
| 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
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Asset Allocation
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Latest Trefis Analyses
Trade Ideas
Select past ideas related to RSI. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11302025 | BBWI | Bath & Body Works | Dip Buy | DB | Insider Buys | Low D/EDip Buy with Strong Insider BuyingBuying dips for companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | 13.7% | 13.7% | 0.0% |
| 11262025 | HRB | H&R Block | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 5.8% | 5.8% | -0.1% |
| 11262025 | LRN | Stride | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 3.6% | 3.6% | -4.4% |
| 11212025 | ABNB | Airbnb | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 18.4% | 18.4% | 0.0% |
| 11212025 | MTN | Vail Resorts | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 11.9% | 11.9% | -1.6% |
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11302025 | BBWI | Bath & Body Works | Dip Buy | DB | Insider Buys | Low D/EDip Buy with Strong Insider BuyingBuying dips for companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | 13.7% | 13.7% | 0.0% |
| 11262025 | HRB | H&R Block | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 5.8% | 5.8% | -0.1% |
| 11262025 | LRN | Stride | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 3.6% | 3.6% | -4.4% |
| 11212025 | ABNB | Airbnb | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 18.4% | 18.4% | 0.0% |
| 11212025 | MTN | Vail Resorts | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 11.9% | 11.9% | -1.6% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons for Rush Street Interactive
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 29.30 |
| Mkt Cap | 7.6 |
| Rev LTM | 9,096 |
| Op Inc LTM | 399 |
| FCF LTM | 455 |
| FCF 3Y Avg | 78 |
| CFO LTM | 987 |
| CFO 3Y Avg | 445 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 11.0% |
| Rev Chg 3Y Avg | 11.5% |
| Rev Chg Q | 4.6% |
| QoQ Delta Rev Chg LTM | 1.0% |
| Op Mgn LTM | 5.2% |
| Op Mgn 3Y Avg | 4.9% |
| QoQ Delta Op Mgn LTM | -0.5% |
| CFO/Rev LTM | 11.5% |
| CFO/Rev 3Y Avg | 6.7% |
| FCF/Rev LTM | 6.4% |
| FCF/Rev 3Y Avg | 2.3% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 7.6 |
| P/S | 1.2 |
| P/EBIT | 7.4 |
| P/E | -11.6 |
| P/CFO | 9.8 |
| Total Yield | -1.1% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 0.2% |
| D/E | 1.7 |
| Net D/E | 1.5 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 16.4% |
| 3M Rtn | -16.4% |
| 6M Rtn | -14.0% |
| 12M Rtn | -14.1% |
| 3Y Rtn | 35.0% |
| 1M Excs Rtn | 13.5% |
| 3M Excs Rtn | -19.8% |
| 6M Excs Rtn | -28.1% |
| 12M Excs Rtn | -30.3% |
| 3Y Excs Rtn | -45.3% |
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 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Online gaming and retail sports betting business activities | -60 | ||||
| Total | -60 |
Returns Analyses
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
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| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |