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MGM Resorts vs Las Vegas SandsMGM Resorts vs Wynn ResortsMGM Resorts vs Boyd GamingMGM Resorts vs Red Rock ResortsMGM Resorts vs CaesarsMGM Resorts vs S&P 500 | Market

TL;DR: Financial Overview - Revenue, Profits & Key Metrics

Latest Quarterly: Dec 2025

Income Metrics

Revenue 4.6B
Gross Profit 2.0B 44.03%
Operating Income 325.2M 7.06%
Net Income 382.8M 8.31%
EPS (Diluted) $1.11

Balance Sheet Metrics

Total Assets 41.4B
Total Liabilities 38.1B
Shareholders Equity 3.3B
Debt to Equity 11.63

Cash Flow Metrics

Operating Cash Flow 353.9M
Free Cash Flow 358.5M

Revenue & Profitability Trend

Quarter Income Flow i

Annual Income Flow i

MGM Resorts Income Statement From 2021 to 2025

Metric 2025 2024 2023 2022 2021
Revenue i 17.5B 17.2B 16.2B 13.1B 9.7B
Cost of Goods Sold i 9.7B 9.4B 8.6B 6.7B 5.0B
Gross Profit i 7.8B 7.8B 7.6B 6.5B 4.6B
Gross Margin % i 44.4% 45.5% 47.1% 49.3% 48.0%
Operating Expenses
Research & Development i - - - - -
Selling, General & Administrative i 4.9B 4.8B 4.7B 4.2B 2.5B
Other Operating Expenses i 557.0M 520.2M 512.4M 479.1M 422.8M
Total Operating Expenses i 5.4B 5.3B 5.2B 4.7B 2.9B
Operating Income i 1.3B 1.7B 1.6B -1.7B 568.9M
Operating Margin % i 7.6% 9.7% 9.8% -13.1% 5.9%
Non-Operating Items
Interest Income i - - - - -
Interest Expense i 419.0M 443.2M 460.3M 595.0M 799.6M
Other Non-Operating Income -638.0M -110.1M 349.6M 3.2B 1.7B
Pre-tax Income i 280.8M 1.1B 1.5B 903.8M 1.5B
Income Tax i -240.1M 52.5M 157.8M 697.1M 253.4M
Effective Tax Rate % i -85.5% 4.7% 10.7% 77.1% 17.3%
Net Income i 520.9M 1.1B 1.3B 206.7M 1.2B
Net Margin % i 3.0% 6.2% 8.1% 1.6% 12.5%
Key Metrics
EBITDA i 2.0B 2.4B 2.4B 1.7B 1.8B
EPS (Basic) i - $2.42 $3.22 $3.52 $2.44
EPS (Diluted) i - $2.40 $3.19 $3.49 $2.41
Basic Shares Outstanding i - 307408000 354926000 409201000 481930000
Diluted Shares Outstanding i - 307408000 354926000 409201000 481930000

Income Statement Trend

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MGM Resorts Balance Sheet From 2021 to 2025

Metric 2025 2024 2023 2022 2021
Assets
Current Assets
Cash & Equivalents i 2.1B 2.4B 2.9B 5.9B 4.7B
Short-term Investments i - - - - -
Accounts Receivable i 1.1B 1.1B 929.1M 852.1M 583.9M
Inventory i 124.5M 140.6M 141.7M 126.1M 96.4M
Other Current Assets 486.4M 478.6M 770.5M 583.1M 259.0M
Total Current Assets i 4.3B 4.4B 4.9B 8.2B 6.4B
Non-Current Assets
Property, Plant & Equipment i 23.2B 23.8B 24.1B 24.7B 11.6B
Goodwill i 11.2B 12.0B 12.1B 11.6B 10.6B
Intangible Assets i 1.4B 1.7B 1.7B 1.6B 3.6B
Long-term Investments - - - - -
Other Non-Current Assets 938.3M 898.6M 849.9M 1.0B 490.2M
Total Non-Current Assets i 37.0B 37.9B 37.5B 37.5B 34.5B
Total Assets i 41.4B 42.2B 42.4B 45.7B 40.9B
Liabilities
Current Liabilities
Accounts Payable i 421.5M 412.7M 461.7M 369.8M 286.2M
Short-term Debt i 182.9M 172.2M 84.2M 1.4B 1.1B
Current Portion of Long-term Debt - - - - -
Other Current Liabilities 25.6M - - 539.8M 14.1M
Total Current Liabilities i 3.5B 3.4B 3.1B 4.5B 3.4B
Non-Current Liabilities
Long-term Debt i 31.2B 31.4B 31.5B 32.6B 23.6B
Deferred Tax Liabilities i 2.6B 2.8B 2.9B 3.0B 2.4B
Other Non-Current Liabilities 775.4M 910.1M 542.7M 256.3M 319.9M
Total Non-Current Liabilities i 34.6B 35.2B 34.9B 35.8B 26.3B
Total Liabilities i 38.1B 38.5B 38.0B 40.3B 29.8B
Equity
Common Stock i 2.6M 2.9M 3.3M 3.8M 4.5M
Retained Earnings i 2.1B 3.1B 3.7B 4.8B 4.3B
Treasury Stock i - - - - -
Other Equity - - - - -
Total Shareholders Equity i 3.3B 3.7B 4.4B 5.4B 11.1B
Key Metrics
Total Debt i 31.4B 31.6B 31.6B 34.0B 24.7B
Working Capital i 820.3M 1.0B 1.8B 3.6B 3.0B

Balance Sheet Composition

MGM Resorts Cash Flow Statement From 2021 to 2025

Metric 2025 2024 2023 2022 2021
Operating Activities
Net Income i 520.9M 1.1B 1.3B 206.7M 1.2B
Depreciation & Amortization i 1.0B 831.1M 814.1M 3.5B 1.2B
Stock-Based Compensation i 90.5M 80.2M 73.6M 71.3M 65.2M
Working Capital Changes i -26.8M -289.2M -206.3M -41.2M -263.5M
Operating Cash Flow i 1.9B 2.3B 2.5B 4.7B 931.3M
Investing Activities
Capital Expenditures i 7.1M 13.2M 465.8M 1.2B 106.6M
Acquisitions i -237.8M -296.0M -283.1M -2.1B -2.0B
Investment Purchases i - - - - -
Investment Sales i - - - - -
Investing Cash Flow i -230.6M -282.8M 335.2M -977.6M -1.9B
Financing Activities
Share Repurchases i -1.2B -1.4B -2.3B -2.8B -1.8B
Dividends Paid i - 0 0 -4.0M -4.8M
Debt Issuance i 353.8M 2.1B 0 0 749.8M
Debt Repayment i -500.0M -2.2B -1.3B -1.1B 0
Financing Cash Flow i -1.7B -1.6B -5.0B -3.0B -2.8B
Free Cash Flow i 1.5B 1.2B 1.8B 991.4M 882.7M
Net Change in Cash i -77.0M 421.3M -2.2B 649.4M -3.7B

Cash Flow Trend

MGM Resorts Key Financial Ratios

Valuation Ratios

P/E Ratio (TTM) 51.46
Forward P/E 16.90
Price to Book 4.16
Price to Sales 0.61
PEG Ratio 0.45

Profitability Ratios

Profit Margin 1.17%
Operating Margin 7.06%
Return on Equity 14.89%
Return on Assets 2.00%

Financial Health

Current Ratio 1.23
Debt to Equity 963.09
Beta 1.35

Per Share Data

EPS (TTM) $0.76
Book Value per Share $9.41
Revenue per Share $63.76

Peer Financial Comparison

Company Market Cap P/E Ratio P/B Ratio ROE Profit Margin Debt/Equity
MGM 10.7B 51.46 4.16 14.89% 1.17% 963.09
Las Vegas Sands 34.5B 22.11 22.05 73.26% 12.50% 829.06
Wynn Resorts 11.0B 33.63 -10.55 -31.74% 4.59% -11.92
Boyd Gaming 6.7B 3.94 2.61 87.79% 45.05% 103.98
Red Rock Resorts 5.7B 17.82 15.56 111.30% 9.35% 1,045.93
Caesars 5.7B 10.42 1.62 -10.84% -4.37% 695.12
Nippun Rana

Nippun Rana

Chasing the market trend!

Hi, I’m Nippun, a tech enthusiast from Haryana, India. I have been coding since 2010 and using my coding skills in the share market since 2020. I have been coding scripts in Pinescript that work on Tradingview app/web. I love learning about new technology and applying it to solve real-world problems. Coding and share-market are my passions, and I enjoy finding and fixing bugs in code. I aim to share my skill set and experience that can positively impact society. Feel free to connect with me, an...

Financial data is updated regularly. All figures are in the company's reporting currency.