M 
MGM Resorts International MGM · USD
Consumer Discretionary · Hotels, Restaurants & Leisure · US listing · 🇺🇸 United States
S&P 500
32.91
+1.76%
Close of 9 Nov 2026, in USD
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At a glance
Figures in USD, from our data supplier.
Revenue
$17.54bn
FY2016FY2025
Net income
$206.3m
FY2016FY2025
Free cash flow
$1.67bn
FY2016FY2025
Shareholders' equity
$2.43bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $17.54bn | $17.24bn | $16.16bn | $13.13bn | $9.68bn | $4.92bn | $12.90bn | $11.76bn | $10.80bn | $9.46bn |
| Gross profit | $7.79bn | $7.85bn | $7.61bn | $6.47bn | $4.65bn | $1.71bn | $5.30bn | $4.84bn | $4.60bn | $3.96bn |
| Operating income | $807.0m | $1.49bn | $1.89bn | $1.50bn | $2.28bn | −$642.4m | $3.94bn | $1.40bn | $1.58bn | $2.08bn |
| Net income | $206.3m | $746.6m | $1.14bn | $1.47bn | $1.25bn | −$1.03bn | $2.05bn | $466.8m | $1.95bn | $1.10bn |
| Diluted earnings per share | 0.78 | 2.49 | 3.36 | 3.81 | 2.67 | -2.09 | 3.98 | 0.88 | 3.41 | 1.90 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $41.37bn | $42.23bn | $42.37bn | $45.69bn | $40.90bn | $36.49bn | $33.88bn | $30.21bn | $29.16bn | $28.17bn |
| Cash and short-term investments | $2.06bn | $2.42bn | $2.93bn | $5.91bn | $4.70bn | $5.10bn | $2.33bn | $1.53bn | $1.50bn | $1.45bn |
| Total liabilities | $38.10bn | $38.51bn | $38.00bn | $40.32bn | $29.77bn | $25.25bn | $21.11bn | $19.64bn | $17.47bn | $18.15bn |
| Debt | $6.49bn | $6.68bn | $6.44bn | $8.88bn | $12.93bn | $12.59bn | $11.26bn | $15.13bn | $12.91bn | $12.99bn |
| Shareholders' equity | $2.43bn | $3.02bn | $3.81bn | $4.83bn | $6.07bn | $6.50bn | $7.73bn | $6.51bn | $7.58bn | $6.22bn |
| Shares outstanding | 265m | 299m | 340m | 387m | 470m | 494m | 515m | 529m | 572m | 579m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | $2.74bn | $2.36bn | $2.70bn | $1.77bn | $1.37bn | −$1.49bn | $1.81bn | $1.72bn | $2.21bn | $1.53bn |
| Capital spending | −$1.07bn | −$1.15bn | −$931.8m | −$765.1m | −$490.7m | −$270.6m | −$739.0m | −$1.49bn | −$1.86bn | −$2.26bn |
| Free cash flow | $1.67bn | $1.21bn | $1.77bn | $1.00bn | $882.7m | −$1.76bn | $1.07bn | $235.7m | $342.3m | −$728.5m |
| Dividends paid | — | — | −$957,000 | −$4.0m | −$4.8m | −$77.6m | −$271.3m | −$260.6m | −$252.0m | −$4.39bn |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $4.45bn | $4.45bn | $4.61bn | $4.25bn | $4.40bn | $4.28bn | $4.35bn | $4.18bn |
| Gross profit | $1.98bn | $1.99bn | $2.03bn | $1.85bn | $1.96bn | $1.96bn | $1.95bn | $1.87bn |
| Operating income | $503.6m | $301.2m | $325.0m | −$117.3m | $404.6m | $385.1m | $291.6m | $314.9m |
| Net income | $292.4m | $125.1m | $294.0m | −$285.3m | $49.0m | $148.6m | $157.4m | $184.6m |
| Diluted earnings per share | 1.13 | 0.49 | 1.11 | -1.08 | 0.18 | 0.56 | 0.53 | 0.62 |
| Cash from operations | $558.0m | $567.0m | $832.0m | $681.0m | $645.0m | $547.0m | $671.0m | $667.0m |
| Capital spending | −$241.0m | −$154.0m | −$296.0m | −$275.0m | −$268.0m | −$228.0m | −$404.0m | −$336.0m |
| Free cash flow | $317.0m | $413.0m | $536.0m | $406.0m | $377.0m | $319.0m | $267.0m | $331.0m |
| Total assets | $39.85bn | $41.40bn | $41.37bn | $41.41bn | $41.70bn | $41.90bn | $42.23bn | $42.74bn |
| Cash and short-term investments | $2.55bn | $2.29bn | $2.06bn | $2.13bn | $1.96bn | $2.27bn | $2.42bn | $2.95bn |
| Debt | $6.07bn | $6.40bn | $6.41bn | $6.53bn | $6.58bn | $6.64bn | $6.78bn | $7.17bn |
| Shareholders' equity | $2.51bn | $2.43bn | $2.43bn | $2.68bn | $2.97bn | $2.85bn | $3.02bn | $3.23bn |
Financial ratios
Data as of 7 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 44.4% | 45.5% | 47.1% | 49.3% | 48.0% | 34.8% |
| Operating margin | 4.0% | 9.1% | 9.8% | 11.4% | 23.4% | -40.5% |
| Net margin | 1.2% | 4.3% | 7.1% | 11.2% | 13.0% | -21.0% |
| Return on equity | 8.5% | 24.7% | 30.0% | 30.5% | 20.7% | -15.9% |
| Return on assets | 0.5% | 1.8% | 2.7% | 3.2% | 3.1% | -2.8% |
| Free cash flow yield | 47.0% | 38.4% | 35.0% | 21.4% | 13.0% | -8.1% |
| Revenue growth | 1.7% | 6.7% | 23.1% | 35.6% | 96.9% | -61.9% |
| Earnings growth | -72.4% | -34.6% | -22.5% | 17.4% | -221.5% | -150.4% |
| Current ratio | 1.23x | 1.30x | 1.57x | 1.81x | 1.86x | 3.21x |
| Debt to equity | 2.56x | 2.16x | 1.70x | 1.83x | 2.12x | 2.01x |
| Equity ratio | 5.9% | 7.2% | 9.0% | 10.6% | 14.8% | 17.8% |
| Interest coverage | 1.67x | 3.52x | 3.44x | 2.52x | 2.83x | -2.94x |
| Buybacks as a share of market value | 11.5% | 12.0% | 12.1% | 17.7% | 4.9% | 4.1% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 10.1% | 29.0% | 6.7% |
| Operating income | -18.6% | — | — |
| Net income | -48.1% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 45.0% | 46.4% | 45.9% | 43.9% |
| Operating margin | 6.6% | 8.9% | 9.3% | 12.2% |
| Net margin | 2.7% | 5.6% | 4.8% | 6.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 46.9 | 13.9 | 13.3 | 8.8 | 16.8 | -15.1 | 8.4 | 27.5 | 9.8 | 15.2 |
| Price to sales | 0.6 | 0.6 | 0.9 | 1.0 | 2.2 | 3.2 | 1.3 | 1.1 | 1.8 | 1.8 |
Market value over time
30 Nov 2016 to 6 Oct 2026, in USD
$16.48bn$7.87bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Return | 9% | -25% | 32% | -19% | 38% | -8% | 42% | -29% | 16% | 29% |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 8 Dec 2022.
| FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY1999 | |
|---|---|---|---|---|---|---|---|
| Paid in the year | 0.01 | 0.01 | 0.158 | 0.52 | 0.48 | 0.44 | 0.05 |
- 2-for-1 split · 19 May 2005
- 2-for-1 split · 28 Feb 2000
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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