MGM Resorts International

NYSE-MGM

Basic

Market Cap
$13B
EV
$42.61B
Shares Out
313.68M
Revenue
$16.63B
Employees
67,000

Margins

Gross
46.65%
EBITDA
14.92%
Operating
10.07%
Pre-Tax
7.04%
Net
5.37%
FCF
9.45%

Returns (5Yr Avg)

ROA
2.45%
ROTA
18.07%
ROE
11.52%
ROCE
0.09%
ROIC
-0.11%

Valuation (TTM)

P/E
—
P/B
—
EV/Sales
—
EV/EBITDA
—
P/FCF
—
EV/Gross Profit
—

Valuation (NTM)

Price Target
$56.19
P/E
—
PEG
—
EV/Sales
—
EV/EBITDA
—
P/FCF
—

Financial Health

Cash
$2,722.29M
Net Debt
$29.01B
Debt/Equity
7.82
EBIT/Interest
3.8

Growth (CAGR)

Rev 3Yr
56.33%
Rev 5Yr
7.31%
Rev 10Yr
5.52%
Dil EPS 3Yr
-16%
Dil EPS 5Yr
40.66%
Dil EPS 10Yr
32.56%
Rev Fwd 2Yr
3.87%
EBITDA Fwd 2Yr
4.91%
EPS Fwd 2Yr
8.6%
EPS LT Growth Est
18%

Dividends

Yield
—
Payout
—
DPS
—
DPS Growth 3Yr
—
DPS Growth 5Yr
—
DPS Growth 10Yr
—
DPS Growth Fwd 2Yr
0.85%

Metric	Dec '14	Dec '15	Dec '16	Dec '17	Dec '18	Dec '19	Dec '20	Dec '21	Dec '22	Dec '23	LTM
Operating Revenues						12,462.8	4,917.1	9,454.1	13,081.8	16,118.5	16,627.2
Other Revenues, Total			—	—	—	—	—	—	—	—	—
Total Revenues						12,462.8	4,917.1	9,454.1	13,081.8	16,118.5	16,627.2
Total Revenues % Chg.						9.9%	-60.5%	92.3%	38.4%	23.2%	17.9%
Cost of Goods Sold, Total						7,166.6	3,207.8	4,804.5	6,607.3	8,507.8	8,870.3
Gross Profit						5,296.2	1,709.4	4,649.5	6,474.5	7,610.7	7,756.8
Selling General & Admin Expenses, Total						2,565.9	2,489.1	2,930	4,705.7	5,213.1	5,274.3
Pre-Opening Costs						7.2	0.1	5.1	1.9	0.4	1.4
Depreciation & Amortization						1,304.6	1,210.6	1,150.6	3,482.1	814.1	807.2
Other Operating Expenses	—	—	—		—	—	—	—	—	—	—
Other Operating Expenses, Total						3,877.7	3,699.7	4,085.7	8,189.7	6,027.6	6,082.9
Operating Income						1,418.5	-1,990.3	563.8	-1,715.2	1,583.1	1,674
Interest Expense, Total						-847.9	-676.4	-799.6	-595	-460.3	-440
Interest And Investment Income	—	—	—	—	—	—	—	—	96	164	164
Net Interest Expenses						-847.9	-676.4	-799.6	-499	-296.3	-276
Income (Loss) On Equity Invest.						57.2	-60.4	1.6	-183.7	-63.1	-12.2
Currency Exchange Gains (Loss)	—	—	—	—	—	—	—	—	-19	-106	-106
Other Non Operating Income (Expenses)						-238.8	-118.9	105.7	-33.9	-17.7	-482
EBT, Excl. Unusual Items						389	-2,846	-128.5	-2,450.7	1,100	797.7
Restructuring Charges	—	—			—	—	—	—	—	—	—
Impairment of Goodwill	—		—	—	—	—	—	—	—	—	—
Gain (Loss) On Sale Of Investments				—		—	-64	28	10	-26	-26
Gain (Loss) On Sale Of Assets	—	—	—	—	—	2,676.7	1,491.9	—	3,344.5	398.8	398.8
Asset Writedown	—	—	—	—	—	-219	—	—	—	—	—
Legal Settlements	—	—	—	—	—	—	-49	—	—	—	—
Other Unusual Items	—	—		—	—	—	-44.4	1,562.3	—	—	—
EBT, Incl. Unusual Items						2,846.7	-1,511.5	1,461.8	903.8	1,472.8	1,170.5
Income Tax Expense						632.3	-191.6	253.4	697.1	157.8	35.7
Earnings From Continuing Operations						2,214.4	-1,319.9	1,208.4	206.7	1,314.9	1,134.8
Minority Interest						-165.2	287.2	46	1,266.4	-172.7	-241.9
Net Income						2,049.1	-1,032.7	1,254.4	1,473.1	1,142.2	892.8
Preferred Dividend and Other Adjustments	—	—				2.7	-35.5	78.3	31.9	-2.1	-1
Net Income to Common Incl Extra Items						2,046.4	-997.2	1,176.1	1,441.2	1,144.3	893.8
Net Income to Common Excl. Extra Items						2,046.4	-997.2	1,176.1	1,441.2	1,144.3	893.8
Total Shares Outstanding						503.1	494.3	453.8	379.1	326.6	314.9
Weighted Avg. Shares Outstanding						524.2	494.2	481.9	409.2	354.9	341.5
Weighted Avg. Shares Outstanding Dil						527.6	494.2	487.4	413	358.6	345
EPS						3.9	-2	2.4	3.5	3.2	2.6
EPS Diluted						3.9	-2	2.4	3.5	3.2	2.6
EBITDA						2,723.1	-779.8	1,714.4	1,766.9	2,397.2	2,481.2
Effective Tax Rate						22.2%	12.7%	17.3%	77.1%	10.7%	3.1%