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Data-driven stock valuation

Full House Resorts Inc (FLL) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of Full House Resorts Inc stock $1.80, price $0.62, upside +190.3%, quality 34 out of 100. Rating: strongly undervalued. Calculated from audited financials with one of our 26 valuation models and 37 quality factors, updated daily.

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Consumer Cyclical US

FH Full House Resorts Inc logo Thin data Nov 8, 2026

Full House Resorts Inc

FLL · US
Cheap, value-trap risk

The stock costs 66% less than our calculation considers fair.

Fair value $1.80 · Strongly undervalued
Expensive Growth (revenue 5y +19.2 %/yr in USD)
Negative equity (buybacks among others)
Mixed vs. peers (4/9)
Quality 34/100
Loss-making · -12.2% net margin (TTM)
Negative free cash flow
Narrow moat 13/100 · thin data
Thin data
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$12.35 $0.6200 Fair Value $1.80 Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.

How to read this chart

60‑month range $0.6200 – $12.35 · the $0.6200 price screens below the $1.80 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.

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Company profile

Full House Resorts, Inc. own, lease, develop and operate gaming facilities throughout the country.

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Our properties include American Place in Waukegan, Illinois; Silver Slipper Casino and Hotel in Hancock County, Mississippi; Chamonix Casino Hotel and Bronco Billy's Casino in Cripple Creek, Colorado; Rising Star Casino Resort in Rising Sun, Indiana; and Grand Lodge Casino, located within the Hyatt Regency Lake Tahoe Resort, Spa and Casino in Incline Village, Nevada.

Full House Resorts, Inc. was founded in 1987 and incorporated on January 5th 1987 in Delaware, USA.

Stock analysis

Full House Resorts Inc (FLL) currently trades at $0.6200, while our model-based Fair Value estimate is $1.80, implying the stock looks roughly 66% undervalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 96/100, which puts the data coverage at low.

Quality & growth

The Quality Score stands at 34/100 (below-average quality), in the Consumer Cyclical sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Full House Resorts Inc reported revenue of $302M in FY2025 versus $180M in FY2021, a compound +13.8%/yr. Reported net income was −$40.2M in FY2025.

Key figures

Market cap $22.4M Micro · P/S ratio 0.07 · EPS (TTM) $−1.05 · Net margin −12.2% · Return on equity −936% · Return on assets (EBIT) 2.2% (5-year average) · Operating margin 5.4% · Revenue (TTM) $310M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 13 out of 100 (low confidence).

What moves the price

The share trades about 81% below its 52-week high and at its 52-week low.

For context, the median of 10 Consumer Cyclical peers we cover trades at 34% fair-value upside, at 190%, FLL screens cheaper than that median.

Fair Value models

Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
EV/EBITDA n/a $1.80 $5.59 62
All 1 models by family
Multiples
EV/EBITDA n/a $1.80 $5.59 62

Open the full fair value analysis →

Quality Score breakdown

Overall quality 34/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 11
How much profit the company makes from its sales and capital
Quality Growth 38
Are margins and returns getting better?
Cashflow 13
Do the profits arrive as real cash?
Financial strength 4
Debt, balance sheet and risk of trouble
Investment 89
Does it invest with discipline instead of growing at any price?
Low Volatility 11
How calm the share price moves, does not count
Price momentum 2
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 0
Distance to the 52-week high, does not count
New shares 72
Buys back shares or issues new ones?

Open the full quality analysis →

Insider trades

In the last 6 months, no officer or director bought or sold shares on the open market.

Plus 13 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.

Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.

Source: SEC Form 4, as of Nov 6, 2026. All filings at the SEC ↗

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 44/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+3.5%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+22.8%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+19.2%
Start year 2020 (pandemic). Over 10 years: +9.3% a year
Revenue growth 32 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+14.1%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
8.3% (2020) → 1.3% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Resorts & Casinos · 62 stocks

Beats the industry median on 4/9 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 34 · Bottom 25%
Fair Value upside +190.3% · Top 25%
Profitability
Return on equity (12 months) Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Return on assets −6.0% · Bottom 25%
Net margin (12 months) −12.2% · Bottom 25%
Operating margin (12 months) 5.4% · Below median
Growth and dividend
Revenue growth (quarter YoY) 4.9% · Above median
Balance sheet
Debt / equity Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.

Valuation Multiplesvs Resorts & Casinos median · lower = cheaper

P/B Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
P/S (12 months) 0.07× · Cheapest 25%
EV/EBITDA 9.2× · Pricier than median
PEG 0.66× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 50
FUTURE (revenue growth)25 · sector 14
PAST (return on equity)0 · sector 23
HEALTH (low debt)0 · sector 86
DIVIDEND (yield)0 · sector 64

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Gambling

Similar stocks

10 more Resorts & Casinos stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
MGM China Holdings 2282 HK$10.01 HK$30.03 +200% vs FLL
Sands China Ltd 1928 HK$11.03 HK$18.86 +71% vs FLL
Boyd Gaming Corporation BYD $76.57 $129.48 +69% vs FLL
Las Vegas Sands Corp LVS $40.73 $55.26 +36% vs FLL
Galaxy Entertainment Group 0027 HK$34.84 HK$46.74 +34% vs FLL
Genting Singapore Limited G13 0.6100 SGD 0.6400 SGD +5% vs FLL
MGM Resorts International MGM $32.34 $31.91 −1% vs FLL
Wynn Resorts, Limited WYNN $83.11 $54.88 −34% vs FLL
Red Rock Resorts, Inc RRR $48.22 $30.31 −37% vs FLL
Vail Resorts, Inc MTN $158.59 $83.42 −47% vs FLL

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Full House Resorts Inc: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Full House Resorts Inc Fair Value". https://www.fairvalue-calculator.com/stock/FLL

Frequently asked questions

Is Full House Resorts Inc (FLL) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of $1.80 versus a price of $0.6200, about +190% upside (undervalued).
What is the fair value of FLL?
Our model-based fair value for Full House Resorts Inc is $1.80 (as of Nov 8, 2026), built from audited fundamentals. The current price: $0.6200.
What is the quality score of FLL?
Full House Resorts Inc has a Quality Score of 34/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Full House Resorts Inc (FLL)?
Our model-based price target is the fair value of $1.80 (as of Nov 8, 2026) from 1 valuation models. It is a calculation from audited fundamentals, not an analyst target.
What is the Full House Resorts Inc stock forecast for 2026?
Our models put fair value at $1.80, about +190% upside versus a price of $0.6200 (undervalued). The calculation is refreshed regularly with new filings.
What is the revenue of Full House Resorts Inc (FLL)?
Full House Resorts Inc reported trailing-twelve-month revenue of about $310M (latest available figure, as of Nov 8, 2026).
What is the intrinsic value of Full House Resorts Inc (FLL)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Full House Resorts Inc it is $1.80 per share (as of Nov 8, 2026), against a price of $0.6200. It is the blended result of 1 valuation models in 1 family (Multiples).
Is Full House Resorts Inc stock overvalued or undervalued in 2026?
As of Nov 8, 2026, FLL trades below its calculated fair value: price $0.6200, fair value $1.80, a gap of about +190% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of FLL?
No. The price is what the market pays today ($0.6200); the fair value is what the company's own numbers justify ($1.80). For Full House Resorts Inc the two are $1.18 per share apart. That gap is exactly why we show both numbers side by side.
How much is Full House Resorts Inc worth?
The market values Full House Resorts Inc at about $22.4M (market capitalisation, as of Nov 8, 2026). Per share that is $0.6200; our models calculate a fair value of $1.80 per share.
What is the PEG ratio of FLL?
The PEG ratio of Full House Resorts Inc is 0.66 (P/E divided by earnings growth, as of Nov 8, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Full House Resorts Inc (FLL)?
Balance-sheet figures for Full House Resorts Inc (as of Nov 8, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 34/100, which measures business quality independently of the share price.
How far is FLL from its 52-week high?
Full House Resorts Inc trades at $0.6200, about 81% below its 52-week high of $3.32 and at the low of $0.6200 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $1.80 is for.
Which stocks are comparable to Full House Resorts Inc?
From the same area (Consumer Cyclical) we also value Las Vegas Sands Corp, Galaxy Entertainment Group, Sands China Ltd, Wynn Resorts, Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Full House Resorts Inc stock attractive at the current price?
The data as of Nov 8, 2026: price $0.6200, calculated fair value $1.80 (+190%), Quality Score 34/100, from 1 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of FLL calculated?
We run Full House Resorts Inc through 1 models from 1 family: Multiples. Every model gets the same audited fundamentals; the fair value of $1.80 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Full House Resorts Inc currently trades 66% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Full House Resorts Inc (FLL)?
The closing price on Nov 6, 2026 was $0.6200. Our model-based fair value is $1.80, about +190% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Full House Resorts Inc right now?
The large discount to fair value meets weak quality (34/100). That raises the risk this is a value trap rather than a bargain. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of Full House Resorts Inc

How large is the market capitalisation of Full House Resorts Inc (FLL)?
The market capitalisation of Full House Resorts Inc is $22.4M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Full House Resorts Inc (FLL)?
The price-to-sales ratio of Full House Resorts Inc is 0.07 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Full House Resorts Inc (FLL)?
Earnings per share at Full House Resorts Inc are $−1.05. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Full House Resorts Inc (FLL)?
The net margin of Full House Resorts Inc is −12.2% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Full House Resorts Inc (FLL)?
The return on equity (ROE) of Full House Resorts Inc is −936% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Full House Resorts Inc (FLL)?
On an EBIT basis the return on assets of Full House Resorts Inc is 2.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Full House Resorts Inc (FLL)?
The operating margin of Full House Resorts Inc is 5.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Full House Resorts Inc (FLL)?
Revenue at Full House Resorts Inc is growing +4.9% versus a year earlier (3y avg +22.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Full House Resorts Inc (FLL)?
Earnings per share at Full House Resorts Inc are growing +5.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Full House Resorts Inc (FLL) generate?
The free cash flow of Full House Resorts Inc is −$2.7M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Full House Resorts Inc (FLL) carry?
The net debt of Full House Resorts Inc is $491M (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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