Mgm Resorts International

  • Earnings Score
  • Moat Score
  • Safety Score
  • Market Cap $10.60B
  • PE 14
  • Debt $6.40B
  • Cash $2.50B
  • EV $14.50B
  • FCF $1.21B

Earnings

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Sales & Net Margins

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Earnings$743.65M
EBIT$1.49B
ROE20%
ROA4%
FCF$1.21B
Equity$3.69B
Growth Stability-89%
PE14.25
PEG-0.91
PB2.88
P/FCF8.74
P/S0.61
Price/Cash0.24
Debt/Equity1.74
Debt/FCF5.28
Net Margins4%
Op. Margins9%
Earnings CAGR-0%
Sales Growth YoY-1%
Sales Growth QoQ4%
Sales CAGR5%
FCF CAGR10%
Equity CAGR-8%
Earnings Stability0
Earnings Growth YoY-51%
Earnings Growth QoQ-16%
Earnings CAGR 5Y-16%
Sales CAGR 5Y25%
FCF CAGR 5Y33%
Equity CAGR 5Y-27%
Earnings CAGR 3Y19%
Sales CAGR 3Y19%
FCF CAGR 3Y5%
Equity CAGR 3Y-26%
Market Cap$10.60B
Revenue$17.24B
Dividend Yield0%
Payout Ratio0%
Assets$42.23B
Total Debt$6.40B
Cash$2.50B
Shares Outstanding294.37M
EV14.5B
Earnings Score6%
Moat Score70%
Safety Score49%
Final Score42%
Working Capital1.01B
Current Ratio1.3
Shares Growth 3y-15%
Equity Growth QoQ-4%
Equity Growth YoY-15%

Assets & ROA

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Stockholders Equity & ROE

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MGM Resorts is the largest resort operator on the Las Vegas Strip with 35,000 guest rooms and suites, representing about one fourth of all units in the market. The company's Vegas properties include MGM Grand, Mandalay Bay, Mirage, Luxor, New York-New York, and CityCenter. The Strip contributed approximately 49% of total EBITDAR in the prepandemic year of 2019. MGM also owns U.S. regional assets, which represented 29% of 2019 EBITDAR. We estimate MGM's U.S. sports and iGaming operations are currently a mid-single-digit percentage of its total revenue. The company also operates the 56%-owned MGM Macau casinos with a new property that opened on the Cotai Strip in early 2018. Further, we estimate MGM will open a resort in Japan in 2027.

SEC Filings

Direct access to Mgm Resorts International (MGM) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

  • 2024
    • 10-K Dec 31
    • 10-Q Sep 30
    • 10-Q Jun 30
    • 10-Q Mar 31
  • 2023
    • 10-K Dec 31
    • 10-Q Sep 30
    • 10-Q Jun 30
    • 10-Q Mar 31
  • 2022
    • 10-K Dec 31
    • 10-Q Sep 30
    • 10-Q Jun 30
    • 10-Q Mar 31

Sector Comparison

How does Mgm Resorts International compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Mgm Resorts International compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR -0%
Stability 0%
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Mgm Resorts International Discounted Cash Flow

Fully customizable DCF calculator online for Mgm Resorts International.

= $25B
012345678910TV
fcf$1.2B$1.3B$1.5B$1.6B$1.8B$2B$2.2B$2.4B$2.6B$2.9B$3.2B$32B
DCF$1.2B$1.2B$1.2B$1.2B$1.2B$1.2B$1.2B$1.2B$1.2B$1.2B$12B
Value$25B

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.

Years12/201512/201612/201712/201812/201912/202012/202112/202212/202312/2024TTM
Net Margins-11%12%18%4%16%-26%12%2%7%4%4%
ROA-7%6%5%12%-2%6%3%4%4%4%
ROE-11%17%4%16%-12%11%4%26%20%20%

Safety and Stability

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.

Years12/201512/201612/201712/201812/201912/202012/202112/202212/202312/2024TTM
Debt over FCF--18.0538.4964.910.52-7.0815.710.133.625.285.28
Debt over Equity1.691.321.131.460.891.121.261.931.471.741.74
Growth Stability---67%100%-89%100%33%100%88%-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.

Years12/201512/201612/201712/201812/201912/202012/202112/202212/202312/2024CAGR 5Y
Revenue YoY growth-3%14%9%10%-60%88%36%23%7%25%
Earnings YoY growth--206%76%-77%359%-164%-189%-82%452%-35%-16%
Equity YoY growth-28%17%-10%21%-12%-2%-53%-17%-15%-27%
FCF YoY growth-58%-147%-31%355%-265%-150%12%77%-31%33%