Melco Resorts & Entertainment Ltd (MLCO)
Melco Resorts & Entertainment Limited develops, owns, and operates casino gaming and resort facilities in Macau, the Philippines, Cyprus, and internationally. It operates through City of Dreams, Studio City, Altira Macau, Mocha, City of Dreams Manila, City of Dreams Mediterranean and Other, Other Operations, and Corporate and Other segments. The company owns and operates City of Dreams, an integrated resort that has gaming tables and gaming machines; suites and villas; food and beverage outlets; retail outlets; a wet stage performance theater; and recreation and leisure facilities, including health and fitness clubs, swimming pools, spas and salons, and banquet and meeting facilities in Cotai, Macau. It also operates Studio City, a cinematically themed integrated resort with gaming facilities, hotel, entertainment, retail, and food and beverage outlets in Cotai, Macau; and Altira Macau, an integrated resort, which offers gaming tables and gaming machines, hotel rooms, dining and casual restaurants, and recreation and leisure facilities in Taipa, Macau. In addition, the company owns and operates Mocha Clubs, which are clubs with gaming machines in Macau; City of Dreams Manila, an integrated resort in the Entertainment City complex in Manila; City of Dreams Mediterranean, an integrated resort in Limassol, Cyprus; and three satellite casinos in Nicosia, Ayia Napa, and Paphos in Cyprus. Further, it is involved in the operation of the Sri Lanka Casino and management of Nüwa Sri Lanka located in City of Dreams Sri Lanka, as well as development projects in other countries. The company was formerly known as Melco Crown Entertainment Limited and changed its name to Melco Resorts & Entertainment Limited in April 2017. The company was founded in 2003 and is based in Central, Hong Kong. Melco Resorts & Entertainment Limited is a subsidiary of Melco Leisure and Entertainment Group Limited.
- Symbol
- MLCO
- Exchange
- Nasdaq
- Sector
- Consumer Cyclical
- Industry
- Resorts & Casinos
- Market cap
- $1.87B
- 52 week range
- 4.56 - 9.9
Valuation
- Share price
- $4.72 (close of 2026-09-23)
- P/E (TTM)
- 10.28x
- Price to book
- -2.07x
- Price to free cash flow
- 2.28x
- Enterprise value
- $7.87B
- Book value per share
- $-2.31
Price performance
| Period | Change |
|---|
| 1 day | 0.00% |
| 5 days | +1.72% |
| 1 month | -14.03% |
| 3 months | -12.92% |
| 6 months | -13.71% |
| Year to date | -37.65% |
| 1 year | -50.68% |
| 3 years | -51.74% |
| 5 years | -54.70% |
| 10 years | -70.24% |
| All time | -78.10% |
Profitability and growth
- Return on equity
- -20.48%
- Return on invested capital
- 11.72%
- Return on assets
- 2.44%
- Return on capital employed
- 9.36%
- Gross margin
- 24.36%
- Net margin
- 3.58%
- EBITDA margin
- 22.16%
- Revenue growth
- 11.32%
- Net income growth
- 324.97%
- Free cash flow growth
- 30.55%
Cash flow and balance sheet
- Free cash flow yield (TTM)
- 43.81%
- Current ratio
- 1.07x
- Net debt to EBITDA
- 5.19x
Latest reported year
- Period end
- 2025-12-31
- Fiscal year
- 2025
- Revenue
- $5.16B
- Cost of revenue
- $3.91B
- Gross profit
- $1.26B
- EBITDA
- $1.14B
- Net income
- $185.04M
- Earnings per share
- $0.46
- Interest expense
- $464.90M
- Shares outstanding
- 397.99M
Income statement by year
| Period end | Revenue | Gross profit | Net income | EPS |
|---|
| 2025-12-31 | $5.16B | $1.26B | $185.04M | $0.46 |
| 2024-12-31 | $4.64B | $1.05B | $43.54M | $0.10 |
| 2023-12-31 | $3.78B | $553.09M | $-326.92M | $-0.75 |
| 2022-12-31 | $1.35B | - | $-930.53M | $-2.01 |
| 2021-12-31 | $2.01B | - | $-811.75M | $-1.70 |
| 2020-12-31 | $1.73B | - | $-1.26B | $-2.65 |
| 2019-12-31 | $5.74B | $1.31B | $373.17M | $0.78 |
| 2018-12-31 | $5.19B | $1.12B | $340.30M | $0.68 |
| 2017-12-31 | $5.28B | $1.07B | $344.83M | $0.70 |
| 2016-12-31 | $4.52B | $809.71M | $175.91M | $0.35 |
Margins and returns by year
| Period end | Gross margin | Net margin | Return on equity | Return on capital |
|---|
| 2025-12-31 | 24.36% | 3.58% | -20.48% | 11.72% |
| 2024-12-31 | 22.71% | 0.94% | -4.63% | 8.62% |
| 2023-12-31 | 14.65% | -8.66% | 38.92% | 0.92% |
| 2022-12-31 | - | -68.93% | 296.00% | -11.28% |
| 2021-12-31 | - | -40.34% | -99.01% | -9.31% |
| 2020-12-31 | - | -73.12% | -68.74% | -15.17% |
| 2019-12-31 | 22.79% | 6.50% | 11.87% | 11.26% |
| 2018-12-31 | 21.57% | 6.56% | 11.45% | 10.48% |
| 2017-12-31 | 20.28% | 6.52% | 9.61% | 10.70% |
| 2016-12-31 | 17.92% | 3.89% | 4.60% | 6.08% |
Cash and debt by year
| Period end | Cash | Debt |
|---|
| 2025-12-31 | $1.02B | $6.75B |
| 2024-12-31 | $1.15B | $7.14B |
| 2023-12-31 | $1.31B | $7.47B |
| 2022-12-31 | $1.81B | $8.09B |
| 2021-12-31 | $1.65B | $6.56B |
| 2020-12-31 | $1.76B | $5.65B |
| 2019-12-31 | $1.39B | $4.39B |
| 2018-12-31 | $1.47B | $3.67B |
| 2017-12-31 | $1.50B | $3.51B |
| 2016-12-31 | $1.70B | $3.67B |
Free cash flow by year
| Period end | Free cash flow | Stock-based compensation |
|---|
| 2025-12-31 | $818.12M | $29.27M |
| 2024-12-31 | $626.66M | $27.37M |
| 2023-12-31 | $622.69M | $35.47M |
| 2022-12-31 | $-619.43M | $71.81M |
| 2021-12-31 | $-268.77M | $67.96M |
| 2020-12-31 | $-860.96M | $54.39M |
| 2019-12-31 | $827.51M | $31.80M |
| 2018-12-31 | $1.05B | $25.14M |
| 2017-12-31 | $1.16B | $17.30M |
| 2016-12-31 | $1.16B | $18.49M |
Dividend history
- Most recent payment
- 2020-02-28
| Payment date | Dividend per share |
|---|
| 2020-02-28 | $0.17 |
| 2019-11-08 | $0.17 |
| 2019-08-02 | $0.17 |
| 2019-05-17 | $0.15 |
| 2019-03-01 | $0.15 |
| 2018-11-16 | $0.14 |
| 2018-08-03 | $0.14 |
| 2018-05-11 | $0.14 |
Investor relations
Next earnings report
- Next confirmed report
- 2026-11-05
- Consensus EPS estimate
- $0.07
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|
| 2026-08-13 | Jun/2026 | $0.05 |
| 2026-08-06 | Jun/2026 | $0.05 |
| 2026-04-30 | - | - |
| 2025-11-06 | - | - |
| 2025-07-31 | - | - |
| 2025-05-08 | - | - |
| 2025-02-27 | - | - |
| 2024-11-05 | - | - |
Filings and sources
- Company website
- melco-resorts.com
- SEC filings
- 10-K, 10-Q and 8-K on EDGAR
- Earnings calendar
- All upcoming reports
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