A Business at a Glance
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MGM Resorts International is referred to as the “Company,” “MGM Resorts,” or the “Registrant,” and together with its subsidiaries may also be referred to as “we,” “us” or “our.” MGM Resorts International is a Delaware corporation incorporated in 1986 that acts largely as a holding company and, through subsidiaries, is a global gaming and entertainment company with domestic and international locations featuring best-in-class hotels and casinos, state-of-the-art meeting and conference spaces, incredible live and theatrical entertainment experiences, and an extensive array of restaurant, nightlife and retail offerings, as well as sports betting and online gaming operations. We believe we operate several of the finest casino properties in the world and we continually reinvest in our properties to maintain our competitive advantage.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 17.5B | 17.5B | 17.2B | 16.2B | 13.1B | 9.7B |
| Net Income | 206M | 206M | 747M | 1.1B | 1.5B | 1.3B |
| EPS | $0.76 | $0.76 | $2.40 | $3.19 | $3.49 | $2.41 |
| Free Cash Flow | 1.5B | 1.5B | 1.2B | 1.8B | 991M | 883M |
| ROIC | 9.0% | 21.9% | 30.7% | 39.3% | 28.7% | 18.1% |
| Gross Margin | 69.6% | 69.6% | 71.2% | 73.3% | 79.1% | 73.6% |
| Debt/Equity | 2.60 | 2.60 | 2.13 | 1.66 | 2.07 | 2.27 |
| Dividends/Share | $0.00 | - | $0.01 | $0.01 | $0.01 | $0.01 |
| Operating Income | 1.0B | 1.0B | 1.5B | 1.9B | 1.4B | 2.3B |
| Operating Margin | 5.7% | 5.7% | 8.6% | 11.7% | 11.0% | 23.5% |
| ROE | 8.5% | 7.5% | 24.7% | 30.0% | 30.5% | 20.7% |
| Shares Outstanding | 271M | 271M | 311M | 358M | 422M | 520M |
MGM Resorts International passes 6 of 9 quality checks, suggesting mixed fundamentals.
MGM Resorts International trades at 48.4x trailing earnings, compared to its 15-year median P/E of 14.1x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 6.4x vs a median of 15.1x. The company's 5-year average ROIC is 27.7% with a gross margin of 73.4%. Total shareholder yield (buybacks) is 12.3%. At current prices, the estimated annualized return to fair value is +42.4%.
MGM Resorts International (MGM) has a current P/E ratio of 48.4, compared to its historical median P/E of 14.1. The stock is currently considered Expensive based on its historical valuation range.
MGM Resorts International (MGM) has a 5-year average return on invested capital (ROIC) of 27.7%. This indicates strong capital allocation and a potential competitive advantage.
MGM Resorts International (MGM) has a market capitalization of $10.0B. It is classified as a mid-cap stock.
MGM Resorts International (MGM) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 12.34%.
Based on historical P/E analysis, MGM Resorts International (MGM) appears expensive. The current P/E of 48.4 is 242% above its historical median of 14.1. The estimated fair value CAGR (P/E method) is 1.7%.
MGM Resorts International (MGM) operates in the Hotels & Motels industry, within the Consumer Cyclical sector.
MGM Resorts International (MGM) reported annual revenue of $17.5 billion in its most recent fiscal year, based on SEC EDGAR filings.
MGM Resorts International (MGM) has a net profit margin of 1.2%. This is a modest margin.
MGM Resorts International (MGM) generated $1.5 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
MGM Resorts International (MGM) has a debt-to-equity ratio of 2.60. This indicates higher leverage, which may increase financial risk.
MGM Resorts International (MGM) reported earnings per share (EPS) of $0.76 in its most recent fiscal year.
MGM Resorts International (MGM) has a return on equity (ROE) of 7.5%. This indicates moderate shareholder returns.
MGM Resorts International (MGM) has a 5-year average gross margin of 73.4%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 18 years of financial data for MGM Resorts International (MGM), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
MGM Resorts International (MGM) has a book value per share of $8.97, based on its most recent annual SEC filing.