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RICK

RCI Hospitality Holdings, Inc.

RICK

RCI Hospitality Holdings, Inc. • NASDAQ
$24.36 ▼ -1.10% (-0.27)
Market Cap $212.43 M
52w High $61.66
52w Low $21.88
Dividend Yield 0.28%
P/E 13.03
Volume 70.35K
Outstanding Shares 8.72M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $71.145M ▲ $32.381M ▼ $4.058M ▲ 5.704% ▲ $0.46 ▲ $12.717M ▲
Q2-2025 $65.876M ▼ $49.294M ▲ $3.231M ▼ 4.905% ▼ $0.36 ▼ $12.086M ▼
Q1-2025 $71.483M ▼ $48.096M ▼ $9.024M ▲ 12.624% ▲ $1.01 ▲ $18.633M ▲
Q4-2024 $73.234M ▼ $59.514M ▲ $244K ▲ 0.333% ▲ $0.026 ▲ $7.438M ▲
Q3-2024 $76.18M $47.218M $-5.233M -6.869% $-0.56 $1.495M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $29.347M ▼ $597.412M ▲ $328.109M ▲ $269.547M ▲
Q2-2025 $32.663M ▼ $589.756M ▲ $321.217M ▲ $268.785M ▼
Q1-2025 $34.718M ▲ $586.218M ▲ $317.447M ▼ $268.98M ▲
Q4-2024 $32.35M ▼ $584.364M ▼ $321.254M ▼ $263.36M ▼
Q3-2024 $34.947M $600.989M $330.056M $271.184M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $4.06M ▲ $13.793M ▲ $-9.861M ▼ $-6.998M ▼ $-3.066M ▼ $10.112M ▼
Q2-2025 $3.194M ▼ $8.547M ▼ $-7.822M ▼ $-2.78M ▲ $-2.055M ▼ $14.301M ▲
Q1-2025 $9.065M ▲ $13.344M ▼ $-4.404M ▼ $-6.572M ▲ $2.368M ▲ $7.59M ▼
Q4-2024 $233K ▲ $15.651M ▼ $-3.925M ▲ $-14.323M ▼ $-2.597M ▼ $10.27M ▲
Q3-2024 $-5.233M $15.764M $-4.404M $3.614M $14.974M $9.347M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Alcoholic Beverages
Alcoholic Beverages
 $70.00M ▲$30.00M ▼$30.00M ▲$30.00M ▲
Food and Merchandise
Food and Merchandise
 $0 ▲$10.00M ▲$10.00M ▲$10.00M ▲
Franchise Fees And Other
Franchise Fees And Other
 $0 ▲$10.00M ▲$0 ▼$10.00M ▲
Service
Service
 $50.00M ▲$20.00M ▼$20.00M ▲$30.00M ▲

Five-Year Company Overview

Income Statement

Income Statement RCI has grown its sales steadily over the last few years, and its core venues still appear to generate strong gross profits. However, more recently, profitability has slipped. Operating and EBITDA margins have narrowed, and net income has fallen back toward break-even even as revenue continued to rise. That means costs, interest, or one-time items are eating into what otherwise looks like a healthy top line. Earnings per share have also been quite volatile, swinging from strong results to a very muted recent year, which signals a business model that can be profitable but is sensitive to economic conditions, operating efficiency, and capital structure choices.

Balance Sheet

Balance Sheet The balance sheet shows a business that has grown its asset base meaningfully over the last few years, likely through acquisitions and real estate ownership. At the same time, debt has increased and now represents a sizable share of the company’s financing, while the cash balance is relatively modest. Equity has grown, but not enough to make leverage a non-issue. Overall, RCI looks asset-rich but also clearly levered, which introduces interest-rate and refinancing risk and limits flexibility if the environment turns weaker or acquisitions do not perform as expected.

Cash Flow

Cash Flow Despite the ups and downs in reported earnings, cash generated from day‑to‑day operations has been fairly steady. The company consistently spends on new venues, remodels, and related investments, which keeps capital spending elevated but also supports growth. Even after these investments, free cash flow has remained positive, though not on a sharply rising path. In practical terms, RCI appears to throw off dependable cash, but a good portion is being plowed back into the business and balance sheet, so the room for aggressive additional commitments can be limited if conditions tighten.

Competitive Edge

Competitive Edge RCI operates in a niche part of hospitality with unusually high barriers to entry. Licensing, zoning, and regulatory complexity make it hard for new competitors to emerge, and RCI’s position as the only public consolidator in this space gives it better access to capital than most rivals. Its mix of well-known nightclub brands and the Bombshells sports-bar concept broadens its audience and revenue sources. Owning much of its real estate also strengthens its long-term footing. On the flip side, the business is tied to discretionary nightlife spending, exposed to local regulation and social attitudes, and carries reputational and policy risk that many mainstream restaurant peers do not face.

Innovation and R&D

Innovation and R&D RCI’s “innovation” is mostly strategic and operational rather than pure technology. The Favoritely.com platform is an attempt to link digital creator-style engagement with in‑club visits, potentially opening a new revenue stream and deepening customer relationships, though it is still early and unproven at scale. Behind the scenes, investments in an ERP system and scheduling tools should help tighten controls, improve margins, and support further acquisitions. The ongoing refinement of club formats and the franchising push at Bombshells are also forms of innovation—testing new concepts, shifting underperforming units, and trying to grow with relatively low capital intensity. Execution risk is meaningful, but management is clearly experimenting with new ways to grow beyond the core nightclub model.

Summary

Overall, RCI looks like a niche consolidator with a defensible position, consistent cash generation, and a willingness to invest heavily for growth. Its strengths lie in regulatory barriers, brand breadth, and an asset-backed approach that often includes owning the underlying real estate. The main financial concerns are rising leverage, a relatively thin cash cushion, and a noticeable recent drop in profitability despite higher revenue. Strategically, the company is pushing acquisitions, Bombshells expansion, and digital initiatives like Favoritely, all of which could enhance scale and resilience if executed well. At the same time, the business remains exposed to cyclical consumer spending, regulatory shifts, and the inherent volatility of its specialized entertainment niche, so results can swing more than in a typical restaurant operator.

NEWS

November 28, 2025 · 1:30 PM UTC

RCI Board of Directors Names Reese as Interim President and CEO and Molina as Interim CFO

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November 21, 2025 · 12:45 PM UTC

RCI Acquires 821,000 Shares from ADW Capital Partners, L.P.

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November 21, 2025 · 12:43 AM UTC

RICK Investors Have Opportunity to Lead RCI Hospitality Holdings, Inc. Securities Fraud Lawsuit with the Schall Law Firm

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November 20, 2025 · 4:25 PM UTC

Levi & Korsinsky Announces the Filing of a Securities Class Action on Behalf of RCI Hospitality Holdings, Inc. (RICK) Shareholders

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November 20, 2025 · 12:05 PM UTC

DEADLINE ALERT for RICK, FTNT, and MOH: The Law Offices of Frank R. Cruz Reminds Shareholders of Securities Fraud Class Actions

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