Mgm Resorts International
MGM
Hotels & Motels
Mkt Cap
$12.28BPE
13.75Debt
$6.294BCash
$2.809BEV
$15.76BFCF
$1.572BP/E Ratio
13.75Debt
$6.294BCash
$2.809BEV
$15.76BFCF
$1.572BCharts data: {"Earnings":[{"time":"2014-12-30","value":-149873000},{"time":"2015-12-30","value":-1039649000},{"time":"2016-12-30","value":1101412000},{"time":"2017-12-30","value":1941923000},{"time":"2018-12-30","value":445446000},{"time":"2019-12-30","value":2046433000},{"time":"2020-12-30","value":-1319907000},{"time":"2021-12-30","value":1176072000},{"time":"2022-12-30","value":206731000},{"time":"2023-12-30","value":1142180000}],"Sales":[{"time":"2014-12-30","value":10081984000},{"time":"2015-12-30","value":9190068000},{"time":"2016-12-30","value":9478269000},{"time":"2017-12-30","value":10797479000},{"time":"2018-12-30","value":11763096000},{"time":"2019-12-30","value":12899672000},{"time":"2020-12-30","value":5162082000},{"time":"2021-12-30","value":9680140000},{"time":"2022-12-30","value":13127485000},{"time":"2023-12-30","value":16164249000}],"Net Margins":[{"time":"2014-12-30","value":-0.014865427280979617},{"time":"2015-12-30","value":-0.1131274545520229},{"time":"2016-12-30","value":0.11620391866911564},{"time":"2017-12-30","value":0.17984966676017614},{"time":"2018-12-30","value":0.03786809186969145},{"time":"2019-12-30","value":0.1586422507487012},{"time":"2020-12-30","value":-0.255692761176595},{"time":"2021-12-30","value":0.1214932841880386},{"time":"2022-12-30","value":0.015747951721140796},{"time":"2023-12-30","value":0.07066087635744785}],"Assets":[{"time":"2014-12-30","value":26702511000},{"time":"2015-12-30","value":25215178000},{"time":"2016-12-30","value":28173301000},{"time":"2017-12-30","value":29159178000},{"time":"2018-12-30","value":30210706000},{"time":"2019-12-30","value":33876356000},{"time":"2020-12-30","value":36494934000},{"time":"2021-12-30","value":40899116000},{"time":"2022-12-30","value":45692206000},{"time":"2023-12-30","value":42368548000}],"Stockholders Equity":[{"time":"2014-12-30","value":7628274000},{"time":"2015-12-30","value":7764427000},{"time":"2016-12-30","value":9969312000},{"time":"2017-12-30","value":11646715000},{"time":"2018-12-30","value":10469791000},{"time":"2019-12-30","value":12662919000},{"time":"2020-12-30","value":11179908000},{"time":"2021-12-30","value":10976766000},{"time":"2022-12-30","value":5210123000},{"time":"2023-12-30","value":4334145000}],"ROE":[{"time":"2014-12-30","value":-0.019647039422023907},{"time":"2015-12-30","value":-0.1338989985996391},{"time":"2016-12-30","value":0.11048024176593128},{"time":"2017-12-30","value":0.16673568469735886},{"time":"2018-12-30","value":0.04254583496461391},{"time":"2019-12-30","value":0.16160831479692794},{"time":"2020-12-30","value":-0.11806063162594897},{"time":"2021-12-30","value":0.10714193962046745},{"time":"2022-12-30","value":0.039678717757718966},{"time":"2023-12-30","value":0.26353063868421567}],"ROA":[{"time":"2014-12-30","value":0.04956605017408288},{"time":"2015-12-30","value":-0.006195950708735826},{"time":"2016-12-30","value":0.07382120398316122},{"time":"2017-12-30","value":0.058831973932872865},{"time":"2018-12-30","value":0.048641233342908305},{"time":"2019-12-30","value":0.11631165406338273},{"time":"2020-12-30","value":-0.01760337475880899},{"time":"2021-12-30","value":0.055715116189797353},{"time":"2022-12-30","value":0.03150147751675636},{"time":"2023-12-30","value":0.04464389480611892}]}
MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and Macau. The company operates through three segments: Las Vegas Strip Resorts, Regional Operations, and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities. The company's casino operations include slots and table games, as well as online sports betting and iGaming through BetMGM. Its customers include premium gaming customers; leisure and wholesale travel customers; business travelers; and group customers, including conventions, trade associations, and small meetings. The company was formerly known as MGM MIRAGE and changed its name to MGM Resorts International in June 2010. MGM Resorts International was incorporated in 1986 and is based in Las Vegas, Nevada.
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DCF
Discounted Cash Flow Valuation of Mgm Resorts International
Value
Growth
%
%
Discount
%
%
Multiple
| g\r | +10% | +11% | +12% | +13% | +14% |
|---|---|---|---|---|---|
| 0% | 10 | 9 | 8 | 8 | 7 |
| +1% | 11 | 10 | 9 | 8 | 8 |
| +2% | 13 | 11 | 10 | 9 | 8 |
| +3% | 14 | 13 | 11 | 10 | 9 |
| +4% | 17 | 14 | 12 | 11 | 10 |
| Years | 0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | TV |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FCF | $1.572B | $1.985B | $2.459B | $2.989B | $3.563B | $4.162B | $4.764B | $5.34B | $5.859B | $6.29B | $6.605B | $66.05B |
| DCF | $1.726B | $1.86B | $1.966B | $2.037B | $2.069B | $2.059B | $2.007B | $1.915B | $1.788B | $1.633B | $16.33B | |
| Value | $35.39B | |||||||||||
In the chart Earnings are multiplied by this value.
Earnings Growth -1.6%
Earnings Stability -32%
Competitiveness and MOAT
High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.
| Years | 12-2015 | 12-2016 | 12-2017 | 12-2018 | 12-2019 | 12-2020 | 12-2021 | 12-2022 | 12-2023 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | -11% | 12% | 18% | 3.8% | 16% | -26% | 12% | 1.6% | 7.1% | 5.4% |
| ROA | -0.62% | 7.4% | 5.9% | 4.9% | 12% | -1.8% | 5.6% | 3.2% | 4.5% | 3.8% |
| ROE | -13% | 11% | 17% | 4.3% | 16% | -12% | 11% | 4% | 26% | 22% |
What is the average Net Margin?
The average Net Margin over the past 5 years is +2.48%.
What is the trend of Net Margin?
The trend of Net Margin over the past 5 years is +0.32%.
What is the average Return on Assets (ROA)?
The average ROA over the past 5 years is +4.65%.
What is the trend of Return on Assets (ROA)?
The trend of ROA over the past 5 years is -0.57%.
What is the average Return on Equity (ROE)?
The average ROE over the past 5 years is +8.27%.
What is the trend of Return on Equity (ROE)?
The trend of ROE over the past 5 years is +2.76%.
Safety & Stabiliy
Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.
| Years | 12-2015 | 12-2016 | 12-2017 | 12-2018 | 12-2019 | 12-2020 | 12-2021 | 12-2022 | 12-2023 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt FCF | -28.49 | -18.05 | 38.49 | 64.90 | 10.52 | -7.08 | 15.70 | 10.13 | 3.62 | 4.00 |
| Debt Equity | 1.69 | 1.32 | 1.13 | 1.46 | 0.89 | 1.12 | 1.26 | 1.93 | 1.47 | 1.56 |
| MIN | ||||||||||
| Graham Stability | - | - | - | 67% | 100% | -89% | 100% | 33% | 100% | -89% |
What is the Debt/FCF?
The Debt/FCF trailing twelve month is 4.00.
What is the trend of Debt/FCF?
The trend of Debt/FCF over the past 5 years is -8.14.
What is the Graham’s Stability?
Graham’s Stability measure stands at -0.89.
Growth
Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.
| Years | 12-2016 | 12-2018 | 12-2020 | 12-2022 | Trend |
|---|---|---|---|---|---|
| Revenue | 7.9% | 6.6% | 46% | 23% | 5.1% |
| Net Income | 0.52% | 21% | - | 450% | 34% |
| Stockholders Equity | -11% | -16% | -27% | -17% | -5.9% |
| FCF | - | 49% | - | 77% | -14% |
What is the 5 year Revenue CAGR?
The Revenue CAGR over the past 5 years is +6.56%.
What is the trend of Revenue growth?
The trend of Revenue growth rate over the past 5 years is +5.06%.
What is the 5 year Earnings CAGR?
The Earnings CAGR over the past 5 years is +20.72%.
What is the trend of Earnings growth?
The trend of Earnings growth rate over the past 5 years is +33.74%.
What is the 5 year Equity CAGR?
The Equity CAGR over the past 5 years is -16.17%.
What is the trend of Equity growth?
The trend of Equity growth rate over the past 5 years is -5.93%.
What is the 5 year FCF CAGR?
The FCF CAGR over the past 5 years is +49.48%.
What is the trend of FCF growth?
The trend of FCF growth rate over the past 5 years is -14.23%.