DS · Drive Shack Inc. - Financials

Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.

Annual Quarterly

Income Statement

Line item	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
Revenue	$281.86M	$219.99M	$272.06M	$314.37M	$292.59M	$298.88M
Cost of Revenue	$12.81M	$8.83M	$15.22M	$20.15M	$20.96M	$21.59M
Gross Profit	$269.05M	$211.15M	$256.85M	$294.22M	$271.63M	$277.29M
R&D	-	-	-	-	-	-
SG&A	$33.81M	$31.28M	$47.98M	$38.56M	$16.62M	$13.84M
Total Operating Expenses	$302.49M	$188.75M	$229.31M	$340.80M	$337.50M	$338.05M
D&A	$24.02M	$27.15M	$22.40M	$19.70M	$24.30M	$26.50M
Operating Income	($20.62M)	($36.63M)	($67.28M)	($26.43M)	($44.91M)	($39.17M)
Interest Expense	$10.70M	$11.05M	$11.01M	$19.83M	-	$52.87M
Income Tax	$1.78M	$1.71M	$641.0K	$284.0K	$965.0K	$189.0K
Net Income	($31.37M)	($56.35M)	($60.43M)	($44.26M)	($47.78M)	$71.50M
EPS - Basic	($0.41)	($0.92)	($0.90)	($0.66)	($0.71)	$1.07
EPS - Diluted	($0.41)	($0.92)	($0.90)	($0.66)	($0.71)	$1.04

Balance Sheet

Line item	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
Cash & Equivalents	$58.29M	$47.79M	$28.42M	$79.23M	$167.69M	$140.14M
Accounts Receivable	$5.56M	$4.45M	$5.25M	$7.52M	$8.78M	-
Inventory	$2.23M	$1.95M	$2.76M	$2.85M	$4.72M	$4.50M
Accounts Payable	-	-	-	-	-	-
Current Assets	$100.85M	$72.12M	$74.30M	$189.40M	$207.51M	-
Total Assets	$482.79M	$457.05M	$515.99M	$401.95M	$536.65M	$1.17B
Current Liabilities	$110.73M	$101.98M	$93.06M	$103.66M	$103.98M	-
Long-term Debt	-	-	-	-	-	-
Total Liabilities	$452.94M	$447.02M	$450.42M	$267.28M	$365.60M	$953.89M
Stockholders' Equity	$28.40M	$171.05M	$65.58M	$134.67M	$171.05M	$218.07M
Retained Earnings	($3.27B)	($3.23B)	($3.18B)	($3.11B)	($3.07B)	($3.02B)

Cash Flow

Line item	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
Operating Cash Flow	$254.0K	($1.32M)	($28.12M)	($7.20M)	$3.38M	$3.38M
Investing Cash Flow	($32.59M)	$24.94M	($11.99M)	$25.93M	$656.57M	($152.64M)
Financing Cash Flow	$44.06M	($4.75M)	($10.74M)	($109.60M)	($617.86M)	$243.75M
CapEx	$32.59M	$10.68M	$74.87M	$62.35M	$12.57M	-
Free Cash Flow	($32.33M)	($12.00M)	($102.99M)	($69.55M)	($9.19M)	-

Ratios

Metric	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
Profitability
Gross margin	95.5%	96.0%	94.4%	93.6%	92.8%	92.8%
Operating margin	-7.3%	-16.7%	-24.7%	-8.4%	-15.3%	-13.1%
EBITDA margin	1.2%	-4.3%	-16.5%	-2.1%	-7.0%	-4.2%
Net margin	-11.1%	-25.6%	-22.2%	-14.1%	-16.3%	23.9%
Free cash flow margin	-11.5%	-5.5%	-37.9%	-22.1%	-3.1%	-
FCF / Net income	1.03	0.21	1.70	1.57	0.19	-
R&D / Revenue	-	-	-	-	-	-
SG&A / Revenue	12.0%	14.2%	17.6%	12.3%	5.7%	4.6%
Effective tax rate	-	-	-	-	-	0.3%
Return on assets	-6.5%	-12.3%	-11.7%	-11.0%	-8.9%	6.1%
Return on equity	-110.5%	-32.9%	-92.2%	-32.9%	-27.9%	32.8%
Return on invested capital	-	-	-	-	-	-
Liquidity
Current ratio	0.91	0.71	0.80	1.83	2.00	-
Quick ratio	0.89	0.69	0.77	1.80	1.95	-
Cash ratio	0.53	0.47	0.31	0.76	1.61	-
Leverage
Debt / Equity	-	-	-	-	-	-
Debt / Assets	-	-	-	-	-	-
Debt / EBITDA	-	-	-	-	-	-
Interest coverage	-1.9x	-3.3x	-6.1x	-1.3x	-	-0.7x
Equity multiplier	17.00	2.67	7.87	2.98	3.14	5.37
Liabilities / Assets	0.94	0.98	0.87	0.66	0.68	0.81
Efficiency
Asset turnover	0.58	0.48	0.53	0.78	0.55	0.26
Inventory turnover	5.75	4.53	5.51	7.06	4.44	4.80
Days sales outstanding	7d	7d	7d	9d	11d	-
Days inventory outstanding	63d	81d	66d	52d	82d	76d
Days payable outstanding	-	-	-	-	-	-
Cash conversion cycle	-	-	-	-	-	-
Valuation
P / E	-	-	-	-	-	-
P / B	-	-	-	-	-	-
P / S	-	-	-	-	-	-
EV / EBITDA	-	-	-	-	-	-
Growth
Revenue growth (YoY)	28.1%	-19.1%	-13.5%	7.4%	-2.1%	-
Revenue CAGR (3y)	-3.6%	-9.1%	-3.1%	-	17.7%	-
Revenue CAGR (5y)	-1.2%	-	8.7%	-	-	-
Gross profit growth (YoY)	27.4%	-17.8%	-12.7%	8.3%	-2.0%	-
Operating income growth (YoY)	43.7%	45.6%	-154.5%	41.1%	-14.6%	-
Net income growth (YoY)	44.3%	6.8%	-36.5%	7.4%	-	339.5%
EPS growth (YoY)	55.4%	-2.2%	-36.4%	7.0%	-	333.3%
EPS CAGR (3y)	-	-	-	-	-	26.8%
EPS CAGR (5y)	-	-	-	-	-	-
FCF growth (YoY)	-169.4%	88.3%	-48.1%	-656.6%	-	-
FCF CAGR (5y)	-	-	-	-	-	-
Book value growth (YoY)	-83.4%	160.8%	-51.3%	-21.3%	-21.6%	3.7%

Sales by segment

From XBRL dimensional facts in the 10-K period ending 2021-12-31.

Business segments

$281.86M total

Traditional Golf Segment$236.75M · 84.0%

Entertainment Golf Segment$45.05M · 16.0%

Corporate$63.0K · 0.0%

Product / service

$899.99M total

Golf Operations$232.56M · 25.8%

Public Golf Properties$118.60M · 13.2%

Golf Course Operations Public Golf Properties$100.57M · 11.2%

Golf Course Operations Managed Golf Properties$62.34M · 6.9%

Managed Golf Properties$62.34M · 6.9%

Private Golf Properties$55.81M · 6.2%

Management Contract Reimbursements$54.40M · 6.0%

Food And Beverage$49.30M · 5.5%

Golf Course Operations Private Golf Properties$49.16M · 5.5%

Entertainment Golf Venues$45.05M · 5.0%

Foodand Beverage Entertainment Golf Venues$24.62M · 2.7%

Golf Course Operations Entertainment Golf Venues$20.43M · 2.3%

Foodand Beverage Public Golf Properties$18.03M · 2.0%

Foodand Beverage Private Golf Properties$6.65M · 0.7%

Corporate Golf Properties$63.0K · 0.0%

Golf Course Operations Corporate$63.0K · 0.0%

Stability scores

Altman Z′

FY 2021 · bankruptcy risk

-5.27

Distress

Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.

Piotroski F-score

FY 2021 · 9-point quality

5/9

Neutral

✗Net income positive
✓Operating cash flow positive
✓ROA improved YoY
✓Cash flow > net income
-Long-term debt decreased
✓Current ratio improved
✗No share dilution
✗Gross margin improved
✓Asset turnover improved

Peer comparison

Same SIC group: Retail-Eating & Drinking Places

Company	Revenue (last FY)	Net margin	ROE
WEN	$2.18B	7.6%	140.6%
BROS	$1.64B	4.9%	11.7%
SDOT	$246.90M	-37.8%	162.7%
SBUX	$37.18B	5.0%	-22.9%
CNNE	$423.60M	-121.2%	-50.1%

Comparing Drive Shack Inc. against the 5 most active filers in the same SIC group.