M 
Melco Resorts & Entertainment MLCO · USD
Consumer Discretionary · US listing · 🇺🇸 United States
4.47
-0.89%
Close of 9 Nov 2026, in USD
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At a glance
Figures in USD, from our data supplier.
Revenue
$5.16bn
FY2016FY2025
Net income
$185.0m
FY2016FY2025
Free cash flow
$476.1m
FY2016FY2025
Shareholders' equity
−$1.25bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.16bn | $4.64bn | $3.78bn | $1.35bn | $2.01bn | $1.73bn | $5.74bn | $5.16bn | $5.28bn | $4.52bn |
| Gross profit | $1.90bn | $1.66bn | $1.18bn | $286.5m | $490.0m | $189.5m | $2.10bn | $1.84bn | $1.73bn | $1.41bn |
| Research and development | $7.6m | $5.4m | $1.2m | $1.3m | $30.7m | $25.6m | $57.4m | $23.0m | $31.1m | $95,000 |
| Operating income | $600.4m | $484.6m | $65.0m | −$743.1m | −$598.6m | −$940.6m | $747.7m | $626.8m | $607.6m | $356.6m |
| Net income | $185.0m | $43.5m | −$326.9m | −$930.5m | −$811.8m | −$1.26bn | $373.2m | $351.5m | $347.0m | $175.9m |
| Diluted earnings per share | 0.47 | 0.10 | -0.75 | -2.09 | -1.70 | -2.65 | 0.78 | 0.72 | 0.67 | 0.36 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $7.60bn | $7.99bn | $8.34bn | $9.30bn | $8.88bn | $9.02bn | $9.49bn | $8.88bn | $8.90bn | $9.34bn |
| Cash and short-term investments | $1.02bn | $1.15bn | $1.31bn | $1.81bn | $1.65bn | $1.76bn | $1.44bn | $1.53bn | $1.51bn | $1.91bn |
| Total liabilities | $8.50bn | $8.93bn | $9.18bn | $9.62bn | $8.06bn | $7.18bn | $6.35bn | $6.13bn | $5.56bn | $5.52bn |
| Debt | $6.80bn | $7.36bn | $7.70bn | $8.65bn | $6.96bn | $6.00bn | $4.70bn | $4.35bn | $3.86bn | $4.01bn |
| Shareholders' equity | −$1.25bn | −$1.33bn | −$1.29bn | −$850.3m | $244.7m | $1.10bn | $2.44bn | $2.13bn | $2.89bn | $3.34bn |
| Shares outstanding | 395m | 420m | 437m | 445m | 476m | 477m | 481m | 486m | 516m | 491m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | $818.1m | $626.7m | $622.7m | −$619.4m | −$268.8m | −$861.0m | $836.2m | $1.06bn | $1.16bn | $1.16bn |
| Capital spending | −$342.0m | −$301.2m | −$263.9m | −$622.1m | −$679.4m | −$463.9m | −$449.9m | −$667.5m | −$515.0m | −$508.2m |
| Free cash flow | $476.1m | $325.5m | $358.8m | −$1.24bn | −$948.2m | −$1.32bn | $386.2m | $389.2m | $647.5m | $649.9m |
| Dividends paid | −$78,000 | −$344,000 | −$314,000 | −$196,000 | −$6.7m | −$79.1m | −$301.0m | −$271.5m | −$821.3m | −$385.6m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.25bn | $1.37bn | $1.29bn | $1.31bn | $1.33bn | $1.23bn | $1.19bn | $1.18bn |
| Gross profit | $305.9m | $373.2m | $474.4m | $508.4m | $457.0m | $459.1m | $412.4m | $432.7m |
| Operating income | $129.3m | $190.8m | $144.9m | $176.1m | $139.3m | $151.9m | $97.0m | $139.0m |
| Net income | $22.7m | $77.1m | $60.6m | $74.7m | $17.2m | $32.5m | −$20.3m | $27.3m |
| Diluted earnings per share | 0.06 | 0.20 | 0.15 | 0.19 | 0.04 | 0.08 | -0.05 | 0.06 |
| Total assets | $7.37bn | $7.40bn | $7.60bn | $8.10bn | $7.81bn | $7.90bn | $7.99bn | $7.99bn |
| Cash and short-term investments | $912.9m | $942.4m | $1.02bn | $1.48bn | $1.12bn | $1.10bn | $1.15bn | $1.12bn |
| Debt | $65.7m | $6.72bn | $6.80bn | $7.40bn | $7.22bn | $7.21bn | $7.21bn | $7.22bn |
| Shareholders' equity | −$1.64bn | −$1.22bn | −$1.25bn | −$1.31bn | −$1.43bn | −$1.33bn | −$1.33bn | −$1.30bn |
Financial ratios
Data as of 29 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 36.7% | 35.9% | 31.4% | 21.2% | 24.3% | 11.0% |
| Operating margin | 12.0% | 10.4% | 7.2% | -54.8% | -30.0% | -53.2% |
| Net margin | 3.6% | 0.9% | -8.7% | -68.9% | -40.3% | -73.1% |
| Return on equity | -14.8% | -3.3% | 25.4% | 109.4% | -331.7% | -114.6% |
| Return on assets | 2.4% | 0.5% | -3.9% | -10.0% | -9.1% | -14.0% |
| Free cash flow yield | 78.7% | 59.3% | 54.4% | 0.2% | 23.1% | -22.3% |
| Revenue growth | 11.3% | 22.9% | 179.7% | -32.9% | 16.5% | -69.9% |
| Earnings growth | 325.0% | -113.3% | -64.9% | 14.6% | -35.8% | -438.6% |
| Current ratio | 1.07x | 1.20x | 1.40x | 1.73x | 1.83x | 1.80x |
| Debt to equity | -5.46x | -5.44x | -5.85x | -9.95x | 27.07x | 5.22x |
| Equity ratio | -16.4% | -16.6% | -15.4% | -9.1% | 2.8% | 12.2% |
| Interest coverage | 1.31x | 0.99x | 0.55x | -1.93x | -1.67x | -2.63x |
| R&D as a share of sales | 0.1% | 0.1% | 0.0% | 0.1% | 1.5% | 1.5% |
| Buybacks as a share of market value | 5.9% | 4.0% | 1.8% | 6.5% | 0.2% | 0.9% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 56.4% | 24.5% | 2.7% |
| Operating income | — | — | 19.8% |
| Net income | — | — | 5.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 36.3% | 33.7% | 30.6% | 32.2% |
| Operating margin | 11.1% | 2.7% | -6.1% | 3.0% |
| Net margin | 2.3% | -6.9% | -16.6% | -4.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 16.2 | 55.8 | -11.9 | -5.5 | -6.0 | -7.0 | 31.2 | 24.4 | 43.2 | 44.4 |
| Price to sales | 0.6 | 0.5 | 1.0 | 3.8 | 2.4 | 5.1 | 2.0 | 1.7 | 2.8 | 1.7 |
Market value over time
30 Nov 2016 to 28 Oct 2026, in USD
$9.65bn$1.45bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Return | 28% | -31% | -19% | 23% | -51% | -23% | 43% | -41% | 90% | -10% |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 28 Feb 2020.
| FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | |
|---|---|---|---|---|---|---|---|
| Paid in the year | 0.165 | 0.64 | 0.56 | 1.681 | 0.722 | 0.116 | 0.623 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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