MGM Resorts International (MGM)

MGM Resorts International, through its subsidiaries, operates as a gaming and entertainment company in the United States, China, and internationally. It operates through four segments: Las Vegas Strip Resorts, Regional Operations, MGM China, and MGM Digital. The company operates casino resorts that offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities, as well as online/digital games through its online platforms. Its casino operations include slots and table games, as well as live dealer, online sports betting, and iGaming through BetMGM. The company's 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.

Symbol: MGM
Exchange: NYSE
Sector: Consumer Cyclical
Industry: Resorts & Casinos
Market cap: $7.67B
52 week range: 29.19 - 51.59

Valuation

Share price: $30.48 (close of 2026-10-02)
P/E (TTM): 18.14x
Price to book: 2.28x
Price to free cash flow: 5.13x
Enterprise value: $34.97B
Book value per share: $13.39

Price performance

Period	Change
1 day	+0.03%
5 days	-6.45%
1 month	-26.45%
3 months	-35.29%
6 months	-16.90%
Year to date	-16.47%
1 year	-12.29%
3 years	-17.15%
5 years	-32.06%
10 years	+17.10%
All time	+1008.36%

Members of Congress who disclosed MGM trades

Alan Armstrong · Susie Lee

Super investors holding MGM

Christopher Davis (Davis Selected Advisers) · Mason Hawkins (Southeastern Asset Management) · Ken Griffin (Citadel) · Ray Dalio (Bridgewater Associates) · George Soros (Soros Fund Mgmt) · Dodge & Cox (Dodge & Cox Funds)

Profitability and growth

Return on equity: 6.33%
Return on invested capital: 3.08%
Return on assets: 0.50%
Return on capital employed: 2.65%
Gross margin: 33.52%
Net margin: 1.17%
EBITDA margin: 11.52%
Revenue growth: 1.72%
Net income growth: -72.43%
Free cash flow growth: 20.51%

Cash flow and balance sheet

Free cash flow yield (TTM): 19.49%
Current ratio: 1.33x
Net debt to EBITDA: 13.72x

Latest reported year

Period end: 2025-12-31
Fiscal year: 2025
Revenue: $17.54B
Cost of revenue: $11.66B
Gross profit: $5.88B
EBITDA: $2.02B
Net income: $205.86M
Earnings per share: $0.77
Shares outstanding: 275.05M

Income statement by year

Period end	Revenue	Gross profit	Net income	EPS
2025-12-31	$17.54B	$5.88B	$205.86M	$0.77
2024-12-31	$17.24B	$6.32B	$746.56M	$2.42
2023-12-31	$16.16B	$6.59B	$1.14B	$3.22
2022-12-31	$13.13B	$5.67B	$1.47B	$3.52
2021-12-31	$9.68B	$4.79B	$1.25B	$2.44
2020-12-31	$5.16B	$1.48B	-$1.03B	$-2.02
2019-12-31	$12.90B	$6.04B	$2.05B	$3.90
2018-12-31	$11.76B	$3.23B	$466.77M	$0.82
2017-12-31	$10.80B	$3.27B	$1.95B	$3.38
2016-12-31	$9.48B	$3.46B	$1.10B	$1.94

Margins and returns by year

Period end	Gross margin	Net margin	Return on equity	Return on capital
2025-12-31	33.52%	1.17%	6.33%	3.08%
2024-12-31	36.63%	4.33%	20.26%	4.37%
2023-12-31	40.78%	7.07%	26.35%	5.26%
2022-12-31	43.16%	11.22%	28.27%	2.23%
2021-12-31	49.44%	12.96%	11.43%	6.52%
2020-12-31	28.67%	-20.01%	-9.24%	-1.66%
2019-12-31	46.83%	15.89%	16.18%	12.75%
2018-12-31	27.49%	3.97%	4.46%	5.90%
2017-12-31	30.30%	18.08%	16.81%	7.44%
2016-12-31	36.47%	11.61%	11.07%	9.57%

Cash and debt by year

Period end	Cash	Debt
2025-12-31	$2.06B	$6.23B
2024-12-31	$2.42B	$6.36B
2023-12-31	$2.93B	$6.34B
2022-12-31	$5.91B	$7.43B
2021-12-31	$4.70B	$11.77B
2020-12-31	$5.10B	$12.38B
2019-12-31	$2.33B	$11.17B
2018-12-31	$1.53B	$15.09B
2017-12-31	$1.50B	$12.75B
2016-12-31	$1.45B	$12.98B

Free cash flow by year

Period end	Free cash flow	Stock-based compensation
2025-12-31	$1.46B	$90.47M
2024-12-31	$1.21B	$80.22M
2023-12-31	$1.76B	$73.61M
2022-12-31	$991.39M	$71.30M
2021-12-31	$882.73M	$65.18M
2020-12-31	-$1.76B	$106.96M
2019-12-31	$1.07B	$88.84M
2018-12-31	$235.70M	$70.18M
2017-12-31	$342.33M	$62.49M
2016-12-31	-$728.50M	$55.49M

Dividend history

Most recent payment: 2022-12-08

Payment date	Dividend per share
2022-12-08	$0.00
2022-09-08	$0.00
2022-06-09	$0.00
2022-03-09	$0.00
2021-12-09	$0.00
2021-09-09	$0.00
2021-06-09	$0.00
2021-03-09	$0.00

Investor relations

Next earnings report

Next confirmed report: 2026-10-28
Consensus EPS estimate: $0.25

Past earnings dates

Reported	Fiscal period	EPS estimate
2026-07-29	Jun/2026	$0.63
2026-04-29	Mar/2026	$0.56
2026-02-05	Dec/2025	$0.64
2025-10-29	Sep/2025	$0.37
2025-07-30	Jun/2025	$0.58
2025-04-30	Mar/2025	$0.50
2025-02-12	Dec/2024	$0.32
2024-10-30	Sep/2024	$0.58

Filings and sources

Company website: mgmresorts.com
SEC filings: 10-K, 10-Q and 8-K on EDGAR
Earnings calendar: All upcoming reports

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Price-to-earnings ratio · Discounted cash flow · Free cash flow · Earnings per share · Return on equity · Gross margin vs net margin · Reading a balance sheet · Debt and leverage · Dividend yield · Insider transactions and Form 4 · How to read a stock chart

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