MGM Resorts International (MGM) Financials

$31.61 -0.12 (-0.38%)

Closing price 05/30/2025 03:59 PM Eastern

Extended Trading

$31.54 -0.07 (-0.24%)

As of 05/30/2025 07:56 PM Eastern

Annual Income Statements for MGM Resorts International

This table shows MGM Resorts International's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	747	1,142	1,473	1,254	-1,033	2,049	467	1,952	1,100	-448
Consolidated Net Income / (Loss)	1,065	1,315	207	1,208	-1,320	2,214	584	2,088	1,236	-1,040
Net Income / (Loss) Continuing Operations	1,065	1,315	207	1,208	-1,320	2,214	584	2,088	1,236	-1,040
Total Pre-Tax Income	1,117	1,473	904	1,462	-1,511	2,847	634	961	1,258	-1,046
Total Operating Income	1,490	1,891	1,439	2,279	-642	3,940	1,469	1,713	2,078	-156
Total Gross Profit	7,847	7,611	6,475	4,650	1,709	5,296	4,844	4,645	3,818	3,975
Total Revenue	17,241	16,164	13,127	9,680	5,162	12,900	11,763	10,797	9,478	9,190
Total Cost of Revenue	9,394	8,554	6,653	5,031	3,453	7,603	6,919	6,152	5,661	5,215
Operating Cost of Revenue	9,394	8,554	6,653	5,031	3,453	7,603	6,919	6,152	5,661	5,215
Total Operating Expenses	6,357	5,719	5,035	2,371	2,352	1,356	3,375	2,932	1,740	4,131
Selling, General & Admin Expense	5,346	5,213	4,706	2,930	2,582	2,566	2,184	1,916	1,691	1,584
Depreciation Expense	831	814	3,482	1,151	1,211	1,305	1,178	993	850	820
Other Operating Expenses / (Income)	81	-371	-1,037	-63	94	-2,395	161	50	17	446
Other Special Charges / (Income)	99	63	-2,116	-1,647	-1,535	-120	-148	-28	-818	-187
Total Other Income / (Expense), net	-373	-419	-536	-817	-869	-1,093	-835	-752	-821	-890
Interest Expense	443	460	595	800	676	848	770	669	695	798
Other Income / (Expense), net	70	42	59	-17	-193	-246	-66	-83	-126	-92
Income Tax Expense	52	158	697	253	-192	632	50	-1,127	22	-6.59
Net Income / (Loss) Attributable to Noncontrolling Interest	318	173	-1,266	-46	-287	165	117	136	135	-592
Basic Earnings per Share	$2.42	$3.22	$3.52	$2.44	($2.02)	$3.90	$0.82	$3.38	$1.94	($0.82)
Weighted Average Basic Shares Outstanding	307.41M	354.93M	409.20M	481.93M	494.15M	524.17M	544.25M	572.25M	568.13M	542.87M
Diluted Earnings per Share	$2.40	$3.19	$3.49	$2.41	($2.02)	$3.88	$0.81	$3.34	$1.92	($0.82)
Weighted Average Diluted Shares Outstanding	310.23M	358.63M	412.99M	487.36M	494.15M	527.65M	549.54M	578.80M	573.32M	542.87M
Weighted Average Basic & Diluted Shares Outstanding	285.55M	319.68M	373.91M	439.17M	494.85M	492.43M	569.20M	577.50M	567.80M	542.87M

This table shows MGM Resorts International's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	149	157	185	187	217	313	161	201	467	284	-577
Consolidated Net Income / (Loss)	227	238	244	283	300	380	212	244	480	-320	-1,061
Net Income / (Loss) Continuing Operations	227	238	244	283	300	380	212	244	480	-320	-1,061
Total Pre-Tax Income	267	206	297	271	343	320	224	283	646	-34	-1,186
Total Operating Income	385	292	315	426	458	419	370	371	731	-1.90	-1,046
Total Gross Profit	1,957	1,952	1,868	2,004	2,023	2,000	1,876	1,858	1,877	1,739	1,696
Total Revenue	4,277	4,347	4,183	4,327	4,383	4,376	3,973	3,942	3,873	3,592	3,416
Operating Revenue	4,277	-	-	-	4,383	-	-	-	3,873	-	3,416
Total Cost of Revenue	2,320	2,394	2,315	2,323	2,361	2,375	2,097	2,084	1,997	1,853	1,721
Operating Cost of Revenue	2,320	2,394	2,315	2,323	2,361	2,375	2,097	2,084	1,997	1,853	1,721
Total Operating Expenses	1,572	1,661	1,553	1,579	1,564	1,581	1,506	1,487	1,146	1,742	2,741
Selling, General & Admin Expense	1,307	1,384	1,302	1,335	1,324	1,374	1,314	1,261	1,263	1,340	1,330
Depreciation Expense	236	209	233	192	197	205	202	204	204	1,422	1,406
Other Operating Expenses / (Income)	16	21	25	16	18	7.58	12	5.61	-396	-1,061	-12
Other Special Charges / (Income)	13	46	-7.47	35	25	-6.38	-22	16	75	42	17
Total Other Income / (Expense), net	-118	-86	-18	-154	-115	-99	-146	-89	-85	-32	-140
Interest Expense	107	109	112	113	110	107	111	112	130	137	125
Other Income / (Expense), net	-11	23	94	-42	-4.94	7.63	-34	23	45	105	-15
Income Tax Expense	40	-32	53	-12	44	-60	12	39	166	286	-125
Net Income / (Loss) Attributable to Noncontrolling Interest	78	80	60	96	82	66	51	43	13	-604	-484
Basic Earnings per Share	$0.52	$0.53	$0.61	$0.60	$0.68	$0.95	$0.46	$0.56	$1.25	$0.79	($1.45)
Weighted Average Basic Shares Outstanding	287.13M	307.41M	300.50M	311.18M	320.49M	354.93M	347.35M	361.05M	374.09M	409.20M	393.30M
Diluted Earnings per Share	$0.51	$0.52	$0.61	$0.60	$0.67	$0.94	$0.46	$0.55	$1.24	$0.80	($1.45)
Weighted Average Diluted Shares Outstanding	289.10M	310.23M	303.48M	314.42M	323.76M	358.63M	351.39M	365.34M	378.10M	412.99M	393.30M
Weighted Average Basic & Diluted Shares Outstanding	272.15M	285.55M	297.74M	303.77M	313.68M	319.68M	341.58M	350.89M	363.80M	373.91M	384.02M

This table details how cash moves in and out of MGM Resorts International's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	-512	-3,021	833	101	2,772	803	27	53	-224	-47
Net Cash From Operating Activities	2,362	2,691	1,756	1,373	-1,493	1,810	1,723	2,206	1,534	-463
Net Cash From Continuing Operating Activities	2,362	2,691	1,756	1,373	-1,493	1,810	1,723	2,206	1,534	1,005
Net Income / (Loss) Continuing Operations	1,065	1,315	207	1,208	-1,320	2,214	584	2,088	1,236	-1,040
Consolidated Net Income / (Loss)	1,065	1,315	207	1,208	-1,320	2,214	584	2,088	1,236	-1,040
Depreciation Expense	831	814	3,482	1,151	1,211	1,305	1,178	993	850	820
Amortization Expense	27	28	33	40	34	39	41	33	40	46
Non-Cash Adjustments To Reconcile Net Income	762	459	-2,555	-1,272	-763	-2,061	38	81	-757	-36
Changes in Operating Assets and Liabilities, net	-323	75	590	246	-655	313	-118	-989	165	-254
Net Cash From Investing Activities	-1,283	-714	2,118	1,544	2,159	3,519	-2,083	-1,581	-2,276	-1,365
Net Cash From Continuing Investing Activities	-1,283	-714	2,118	1,544	2,159	3,519	-2,083	-1,581	-2,276	-795
Purchase of Property, Plant & Equipment	-1,151	-932	-765	-491	-271	-739	-1,487	-1,864	-2,262	-1,467
Acquisitions	-296	-283	-2,144	-2,016	-97	-618	-1,091	-17	-563	-196
Sale of Property, Plant & Equipment	13	158	4,486	3,995	2,462	4,154	26	0.72	3.94	8.03
Divestitures	0.00	460	1,054	0.00	0.00	652	164	0.00	0.00	92
Sale and/or Maturity of Investments	2.32	8.34	10	9.69	64	101	323	301	542	202
Other Investing Activities, net	148	-126	-523	46	0.87	-31	-17	-1.71	3.30	-4.03
Net Cash From Financing Activities	-1,564	-5,005	-3,024	-2,814	2,103	-4,530	389	-569	519	-258
Net Cash From Continuing Financing Activities	-1,564	-5,005	-3,024	-2,814	2,103	-4,530	389	-569	519	-258
Repayment of Debt	-2,222	-1,438	-1,183	-178	-2,558	-7,503	-124	-571	-4,352	-5,076
Repurchase of Common Equity	-1,358	-2,292	-2,775	-1,754	-354	-1,032	-1,283	-328	-75	0.00
Payment of Dividends	-189	-177	-215	-329	-364	-495	-446	-422	-103	-307
Issuance of Debt	2,204	-1,097	1,148	-1,346	4,855	3,250	2,242	365	3,895	5,119
Other Net Changes in Cash	-27	6.54	-17	-1.55	2.35	2.60	-	-3.63	-0.92	-
Cash Interest Paid	406	452	574	706	640	827	724	659	661	777
Cash Income Taxes Paid	267	344	23	43	8.54	28	-10	182	68	12

This table details how cash moves in and out of MGM Resorts International's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	-145	-535	537	-308	-206	-388	-527	-662	-1,444	741	-489
Net Cash From Operating Activities	547	672	667	474	549	716	694	577	704	423	401
Net Cash From Continuing Operating Activities	547	672	667	474	549	716	694	577	704	423	401
Net Income / (Loss) Continuing Operations	227	238	244	283	300	380	212	244	480	-320	-1,061
Consolidated Net Income / (Loss)	227	238	244	283	300	380	212	244	480	-320	-1,061
Depreciation Expense	236	209	233	192	197	205	202	204	204	1,422	1,406
Amortization Expense	6.82	6.83	6.69	6.69	7.02	7.00	6.97	6.75	7.13	7.37	7.13
Non-Cash Adjustments To Reconcile Net Income	263	134	190	232	206	232	190	174	-136	-863	177
Changes in Operating Assets and Liabilities, net	-186	83	-6.95	-239	-160	-108	84	-51	150	177	-128
Net Cash From Investing Activities	-227	-404	-494	-277	-108	-294	-362	-271	212	536	-644
Net Cash From Continuing Investing Activities	-227	-404	-494	-277	-108	-294	-362	-271	212	536	-644
Purchase of Property, Plant & Equipment	-228	-404	-336	-238	-172	-329	-210	-253	-140	-308	-220
Acquisitions	0.00	-	-254	-31	-11	-17	-193	-38	-36	-28	-351
Sale of Property, Plant & Equipment	0.06	9.71	1.79	1.13	0.55	-0.70	0.51	0.44	158	102	0.77
Sale and/or Maturity of Investments	0.52	0.56	0.56	0.61	0.60	1.55	0.77	5.47	0.55	0.50	8.94
Other Investing Activities, net	0.42	-10	94	-9.33	73	51	40	6.86	-223	-285	-83
Net Cash From Financing Activities	-470	-790	350	-494	-629	-828	-848	-949	-2,380	-244	-241
Net Cash From Continuing Financing Activities	-470	-790	350	-494	-629	-828	-848	-949	-2,380	-244	-241
Repayment of Debt	-20	-709	58	-1,537	-34	-30	-102	-15	-1,291	-99	-31
Repurchase of Common Equity	-489	-120	-323	-409	-507	-623	-566	-619	-484	-352	-307
Payment of Dividends	-12	-85	-8.63	-83	-12	-8.00	-7.48	-144	-18	-3.86	-2.52
Issuance of Debt	50	123	623	1,534	-77	-166	-173	-172	-586	211	99
Other Net Changes in Cash	5.09	-12	14	-11	-18	17	-12	-18	19	26	-4.12
Cash Interest Paid	70	144	50	163	48	151	51	158	92	162	82
Cash Income Taxes Paid	-0.16	42	59	164	2.33	58	70	217	0.37	10	46

This table presents MGM Resorts International's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	42,232	42,369	45,692	40,899	36,495	33,876	30,211	29,160	28,173	25,215
Total Current Assets	4,364	4,911	8,155	6,416	5,951	4,008	2,527	2,376	2,230	2,409
Cash & Equivalents	2,416	2,928	5,912	4,703	5,102	2,330	1,527	1,500	1,447	1,670
Accounts Receivable	1,071	929	852	584	317	613	657	542	543	481
Inventories, net	141	142	126	96	88	103	111	102	98	104
Prepaid Expenses	479	771	583	259	201	200	204	189	142	138
Current Deferred & Refundable Income Taxes	258	141	73	274	243	27	28	43	0.00	16
Plant, Property, & Equipment, net	6,196	5,450	5,224	14,435	14,632	18,286	20,730	19,635	18,425	15,372
Total Noncurrent Assets	31,672	32,008	32,314	20,047	15,912	11,583	6,954	7,148	7,519	7,435
Long-Term Investments	381	241	173	967	1,447	822	733	1,033	1,220	1,491
Goodwill	5,145	5,166	5,029	3,481	2,091	2,085	1,821	1,807	1,817	1,431
Intangible Assets	1,715	1,725	1,551	3,616	3,644	3,827	3,944	3,878	4,088	4,165
Noncurrent Deferred & Refundable Income Taxes	40	0.00	-	-	-	-	-	-	-	-
Other Noncurrent Operating Assets	24,391	24,877	25,560	11,983	8,730	4,849	455	430	393	348
Total Liabilities & Shareholders' Equity	42,232	42,369	45,692	40,899	36,495	33,876	30,211	29,160	28,173	25,215
Total Liabilities	38,512	38,001	40,324	29,775	25,248	21,108	19,639	17,469	18,150	17,445
Total Current Liabilities	3,352	3,126	4,516	3,442	1,857	3,191	2,949	3,138	2,293	2,238
Accounts Payable	413	462	370	286	143	235	303	255	250	182
Other Current Liabilities	2,869	2,604	2,236	1,983	1,575	2,834	2,463	2,589	1,865	1,562
Other Current Nonoperating Liabilities	70	60	623	173	139	122	140	136	159	166
Total Noncurrent Liabilities	35,160	34,875	35,808	26,333	23,392	17,917	16,690	14,331	15,856	15,207
Long-Term Debt	6,362	6,344	7,433	12,091	12,849	11,532	15,347	12,751	12,979	12,368
Noncurrent Deferred & Payable Income Tax Liabilities	2,812	2,861	2,969	2,439	2,153	2,107	1,343	1,295	2,551	2,681
Other Noncurrent Operating Liabilities	25,986	25,670	25,406	11,802	8,390	4,278	0.00	284	326	158
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	35	33	158	148	67	105	102	80	54	6.25
Total Equity & Noncontrolling Interests	3,685	4,334	5,210	10,977	11,180	12,663	10,470	11,611	9,969	7,764
Total Preferred & Common Equity	3,023	3,811	4,832	6,071	6,505	7,727	6,512	7,577	6,220	5,120
Total Common Equity	3,023	3,811	4,832	6,071	6,505	7,727	6,512	7,577	6,220	5,120
Common Stock	2.94	3.27	3.79	1,755	3,444	3,536	4,097	5,363	5,659	5,662
Retained Earnings	3,082	3,664	4,794	4,341	3,091	4,201	2,423	2,217	546	-556
Accumulated Other Comprehensive Income / (Loss)	-61	144	33	-25	-31	-10	-8.56	-3.61	15	14
Noncontrolling Interest	662	523	379	4,906	4,675	4,936	3,958	4,034	3,749	2,645

This table presents MGM Resorts International's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Total Assets	41,903	42,232	42,741	41,815	42,079	42,369	42,572	42,906	43,542	45,692	47,330
Total Current Assets	4,139	4,364	4,832	4,409	4,574	4,911	5,259	5,617	6,231	8,155	8,783
Cash & Equivalents	2,271	2,416	2,951	2,414	2,722	2,928	3,316	3,843	4,505	5,912	5,295
Accounts Receivable	970	1,071	965	1,017	924	929	812	704	753	852	710
Inventories, net	135	141	145	148	147	142	136	131	129	126	113
Prepaid Expenses	553	479	560	623	688	771	835	809	842	583	407
Current Deferred & Refundable Income Taxes	210	258	213	208	92	141	160	129	2.06	73	233
Plant, Property, & Equipment, net	6,190	6,196	5,950	5,716	5,630	5,450	5,257	5,233	5,141	5,224	5,089
Total Noncurrent Assets	31,574	31,672	31,958	31,691	31,875	32,008	32,056	32,055	32,170	32,314	33,458
Long-Term Investments	394	381	414	238	246	241	232	157	154	173	186
Goodwill	5,162	5,145	5,176	5,153	5,153	5,166	5,143	5,029	5,025	5,029	4,945
Intangible Assets	1,701	1,715	1,777	1,658	1,686	1,725	1,733	1,734	1,756	1,551	2,806
Noncurrent Deferred & Refundable Income Taxes	48	40	-	-	-	0.00	-	-	-	-	-
Other Noncurrent Operating Assets	24,269	24,391	24,592	24,641	24,790	24,877	24,948	25,135	25,236	25,560	25,521
Total Liabilities & Shareholders' Equity	41,903	42,232	42,741	41,815	42,079	42,369	42,572	42,906	43,542	45,692	47,330
Total Liabilities	38,282	38,512	38,886	37,969	38,019	38,001	38,111	38,061	38,310	40,324	41,368
Total Current Liabilities	3,169	3,352	3,887	3,000	3,034	3,126	2,962	2,749	2,844	4,516	5,896
Accounts Payable	381	413	392	402	448	462	413	359	347	370	404
Other Current Liabilities	2,688	2,869	2,708	2,541	2,471	2,604	2,435	2,295	2,280	2,236	2,068
Other Current Nonoperating Liabilities	100	70	112	58	115	60	115	60	114	623	2,072
Total Noncurrent Liabilities	35,112	35,160	34,999	34,969	34,986	34,875	35,149	35,311	35,466	35,808	35,473
Long-Term Debt	6,415	6,362	6,234	6,293	6,270	6,344	6,506	6,674	6,841	7,433	7,210
Noncurrent Deferred & Payable Income Tax Liabilities	2,810	2,812	2,793	2,797	2,850	2,861	2,991	3,007	3,009	2,969	2,847
Other Noncurrent Operating Liabilities	25,887	25,986	25,973	25,879	25,866	25,670	25,653	25,631	25,616	25,406	25,416
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	35	35	33	32	32	33	33	9.72	9.66	158	137
Total Equity & Noncontrolling Interests	3,586	3,685	3,822	3,814	4,027	4,334	4,429	4,835	5,222	5,210	5,825
Total Preferred & Common Equity	2,854	3,023	3,232	3,213	3,457	3,811	3,966	4,416	4,840	4,832	4,842
Total Common Equity	2,854	3,023	3,232	3,213	3,457	3,811	3,966	4,416	4,840	4,832	4,842
Common Stock	2.80	2.94	2.97	3.05	3.15	3.27	3.41	3.53	3.67	3.79	3.89
Retained Earnings	2,763	3,082	3,037	3,172	3,394	3,664	3,963	4,383	4,799	4,794	4,872
Accumulated Other Comprehensive Income / (Loss)	88	-61	192	37	60	144	-0.62	30	37	33	-34
Noncontrolling Interest	733	662	590	601	571	523	463	419	382	379	983

This table displays calculated financial ratios and metrics derived from MGM Resorts International's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	6.66%	23.13%	35.61%	87.52%	-59.98%	9.66%	8.94%	13.92%	3.14%	-8.85%
EBITDA Growth	-12.84%	-44.65%	45.22%	742.40%	-91.87%	92.11%	-1.26%	-6.56%	360.31%	-70.33%
EBIT Growth	-19.28%	28.98%	-33.72%	370.79%	-122.60%	163.24%	-13.87%	-16.54%	885.14%	-120.25%
NOPAT Growth	-15.89%	412.94%	-82.52%	518.87%	-114.67%	126.48%	-63.64%	82.25%	1,967.43%	-126.70%
Net Income Growth	-19.04%	536.06%	-82.89%	191.55%	-159.61%	279.24%	-72.04%	68.97%	218.87%	-917.48%
EPS Growth	-24.76%	-8.60%	44.81%	219.31%	-152.06%	379.01%	-75.75%	73.96%	334.15%	-164.52%
Operating Cash Flow Growth	-12.20%	53.19%	27.89%	191.99%	-182.47%	5.10%	-21.93%	43.84%	431.37%	-140.94%
Free Cash Flow Firm Growth	-20.73%	-80.02%	679.07%	-56.90%	-44.38%	2,062.27%	-114.20%	304.46%	-321.61%	-26.30%
Invested Capital Growth	-3.25%	-5.17%	-55.99%	3.01%	-16.86%	-10.79%	7.39%	8.29%	17.35%	-3.08%
Revenue Q/Q Growth	-0.17%	5.09%	4.25%	19.26%	-24.68%	1.04%	4.03%	1.06%	3.18%	-2.06%
EBITDA Q/Q Growth	-4.31%	-24.34%	21.18%	26.44%	-88.74%	100.68%	7.42%	-2.01%	114.14%	-70.27%
EBIT Q/Q Growth	-6.74%	20.13%	-14.08%	46.99%	-135.36%	211.82%	8.89%	-4.07%	317.54%	-120.55%
NOPAT Q/Q Growth	-10.39%	108.82%	-69.30%	43.90%	-123.35%	387.77%	-71.21%	192.26%	385.83%	-122.74%
Net Income Q/Q Growth	-11.75%	113.71%	-67.84%	89.90%	-209.81%	1,336.14%	-70.76%	182.92%	503.16%	-810.26%
EPS Q/Q Growth	-14.89%	4.59%	21.18%	83.97%	-174.26%	38,700.00%	-74.77%	227.45%	336.36%	-1,071.43%
Operating Cash Flow Q/Q Growth	-1.84%	12.21%	-3.49%	113.51%	-87.73%	7.56%	-17.58%	10.49%	1,111.27%	-154.74%
Free Cash Flow Firm Q/Q Growth	3.77%	-11.03%	1.05%	108.47%	-61.47%	1,674.39%	-114.17%	347.28%	-10.13%	272.94%
Invested Capital Q/Q Growth	-2.08%	0.92%	-11.79%	-1.19%	-0.51%	-11.33%	0.70%	5.70%	1.58%	-7.39%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	45.51%	47.08%	49.32%	48.03%	33.11%	41.06%	41.18%	43.02%	40.28%	43.25%
EBITDA Margin	14.03%	17.17%	38.19%	35.66%	7.94%	39.06%	22.30%	24.60%	29.99%	6.72%
Operating Margin	8.65%	11.70%	10.96%	23.54%	-12.45%	30.55%	12.49%	15.86%	21.93%	-1.70%
EBIT Margin	9.05%	11.96%	11.42%	23.36%	-16.18%	28.64%	11.93%	15.09%	20.60%	-2.71%
Profit (Net Income) Margin	6.18%	8.13%	1.57%	12.48%	-25.57%	17.17%	4.96%	19.34%	13.04%	-11.31%
Tax Burden Percent	95.30%	89.28%	22.87%	82.66%	87.33%	77.79%	92.10%	217.34%	98.27%	99.37%
Interest Burden Percent	71.59%	76.19%	60.30%	64.64%	180.99%	77.05%	45.17%	58.96%	64.41%	420.75%
Effective Tax Rate	4.70%	10.72%	77.13%	17.34%	0.00%	22.21%	7.90%	-117.34%	1.73%	0.00%
Return on Invested Capital (ROIC)	18.99%	21.62%	2.51%	10.49%	-2.31%	13.59%	5.88%	17.43%	10.76%	-0.62%
ROIC Less NNEP Spread (ROIC-NNEP)	8.63%	8.92%	-0.01%	0.51%	-13.96%	5.77%	-0.59%	1.86%	2.76%	-9.87%
Return on Net Nonoperating Assets (RNNOA)	7.34%	5.39%	0.00%	0.31%	-8.68%	5.39%	-0.63%	1.80%	3.13%	-12.89%
Return on Equity (ROE)	26.33%	27.01%	2.51%	10.80%	-10.99%	18.98%	5.25%	19.23%	13.89%	-13.50%
Cash Return on Invested Capital (CROIC)	22.29%	26.93%	80.27%	7.53%	16.10%	24.99%	-1.25%	9.47%	-5.21%	2.51%
Operating Return on Assets (OROA)	3.69%	4.39%	3.46%	5.84%	-2.37%	11.53%	4.73%	5.68%	7.31%	-0.96%
Return on Assets (ROA)	2.52%	2.99%	0.48%	3.12%	-3.75%	6.91%	1.97%	7.28%	4.63%	-4.01%
Return on Common Equity (ROCE)	22.25%	23.98%	1.66%	6.07%	-6.51%	11.58%	3.32%	12.22%	8.85%	-8.08%
Return on Equity Simple (ROE_SIMPLE)	35.21%	34.50%	4.28%	19.91%	-20.29%	28.66%	8.97%	27.56%	19.87%	-20.31%
Net Operating Profit after Tax (NOPAT)	1,420	1,689	329	1,884	-450	3,065	1,353	3,722	2,042	-109
NOPAT Margin	8.24%	10.45%	2.51%	19.46%	-8.71%	23.76%	11.50%	34.47%	21.55%	-1.19%
Net Nonoperating Expense Percent (NNEP)	10.36%	12.71%	2.51%	9.98%	11.65%	7.81%	6.47%	15.57%	7.99%	9.26%
Return On Investment Capital (ROIC_SIMPLE)	14.14%	15.82%	2.36%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	54.49%	52.92%	50.68%	51.97%	66.89%	58.94%	58.82%	56.98%	59.72%	56.75%
SG&A Expenses to Revenue	31.01%	32.25%	35.85%	30.27%	50.03%	19.89%	18.57%	17.75%	17.84%	17.23%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	36.87%	35.38%	38.36%	24.49%	45.56%	10.51%	28.69%	27.16%	18.35%	44.95%
Earnings before Interest and Taxes (EBIT)	1,560	1,933	1,499	2,261	-835	3,695	1,404	1,630	1,952	-249
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	2,419	2,775	5,014	3,452	410	5,038	2,623	2,656	2,842	617
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.41	4.00	2.67	3.47	2.39	2.20	1.91	2.39	2.51	2.36
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	20.21	9.36	16.68	9.57	49.52	0.00
Price to Revenue (P/Rev)	0.60	0.94	0.98	2.17	3.01	1.32	1.06	1.68	1.65	1.32
Price to Earnings (P/E)	13.82	13.36	8.74	16.77	0.00	8.29	26.68	9.28	14.19	0.00
Dividend Yield	0.00%	0.00%	0.03%	0.02%	0.50%	1.58%	2.03%	1.38%	0.00%	0.00%
Earnings Yield	7.24%	7.48%	11.44%	5.96%	0.00%	12.06%	3.75%	10.78%	7.05%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.98	2.50	2.00	1.81	1.50	1.43	1.24	1.47	1.45	1.39
Enterprise Value to Revenue (EV/Rev)	0.85	1.18	1.22	3.41	5.15	2.36	2.52	3.02	3.14	2.64
Enterprise Value to EBITDA (EV/EBITDA)	6.03	6.84	3.20	9.56	64.90	6.04	11.30	12.28	10.46	39.32
Enterprise Value to EBIT (EV/EBIT)	9.34	9.83	10.71	14.60	0.00	8.23	21.12	20.01	15.23	0.00
Enterprise Value to NOPAT (EV/NOPAT)	10.26	11.25	48.74	17.53	0.00	9.92	21.91	8.76	14.56	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	6.17	7.06	9.14	24.04	0.00	16.80	17.21	14.78	19.39	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	8.74	9.03	1.52	24.43	8.48	5.40	0.00	16.12	0.00	54.39
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.71	1.45	1.62	1.18	1.14	0.90	1.46	1.10	1.30	1.63
Long-Term Debt to Equity	1.71	1.45	1.38	1.09	1.14	0.90	1.45	1.09	1.29	1.59
Financial Leverage	0.85	0.60	0.59	0.60	0.62	0.93	1.07	0.97	1.13	1.31
Leverage Ratio	10.46	9.04	5.25	3.46	2.93	2.75	2.67	2.64	3.00	3.36
Compound Leverage Factor	7.49	6.89	3.17	2.24	5.30	2.12	1.20	1.56	1.93	14.16
Debt to Total Capital	63.10%	59.23%	61.89%	54.06%	53.33%	47.46%	59.28%	52.48%	56.44%	62.03%
Short-Term Debt to Total Capital	0.00%	0.00%	9.13%	4.13%	0.00%	0.00%	0.17%	0.64%	0.04%	1.60%
Long-Term Debt to Total Capital	63.10%	59.23%	52.76%	49.93%	53.33%	47.46%	59.11%	51.83%	56.40%	60.43%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	6.91%	5.19%	3.81%	20.87%	19.68%	20.74%	15.64%	16.72%	16.53%	12.95%
Common Equity to Total Capital	29.99%	35.58%	34.30%	25.07%	27.00%	31.80%	25.08%	30.80%	27.03%	25.02%
Debt to EBITDA	2.63	2.29	1.74	3.79	31.35	2.29	5.87	4.86	4.57	20.56
Net Debt to EBITDA	1.47	1.14	0.53	2.00	15.37	1.66	5.01	3.91	3.63	15.44
Long-Term Debt to EBITDA	2.63	2.29	1.48	3.50	31.35	2.29	5.85	4.80	4.57	20.03
Debt to NOPAT	4.48	3.76	26.48	6.95	-28.57	3.76	11.37	3.47	6.36	-116.10
Net Debt to NOPAT	2.51	1.88	8.00	3.67	-14.01	2.73	9.70	2.79	5.05	-87.19
Long-Term Debt to NOPAT	4.48	3.76	22.58	6.42	-28.57	3.76	11.34	3.43	6.36	-113.09
Altman Z-Score	0.82	0.94	0.83	1.08	0.69	1.43	1.02	1.25	1.11	0.73
Noncontrolling Interest Sharing Ratio	15.49%	11.23%	33.90%	43.79%	40.74%	38.99%	36.71%	36.46%	36.27%	40.19%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.30	1.57	1.81	1.86	3.21	1.26	0.86	0.76	0.97	1.08
Quick Ratio	1.04	1.23	1.50	1.54	2.92	0.92	0.74	0.65	0.87	0.96
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1,668	2,104	10,529	1,351	3,136	5,637	-287	2,023	-989	446
Operating Cash Flow to CapEx	207.71%	347.71%	0.00%	0.00%	0.00%	0.00%	117.88%	118.41%	67.92%	-31.73%
Free Cash Flow to Firm to Interest Expense	3.76	4.57	17.70	1.69	4.64	6.65	-0.37	3.02	-1.42	0.56
Operating Cash Flow to Interest Expense	5.33	5.85	2.95	1.72	-2.21	2.14	2.24	3.30	2.21	-0.58
Operating Cash Flow Less CapEx to Interest Expense	2.76	4.16	9.21	6.10	1.03	6.16	0.34	0.51	-1.04	-2.41
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.41	0.37	0.30	0.25	0.15	0.40	0.40	0.38	0.36	0.35
Accounts Receivable Turnover	17.24	18.15	18.28	21.50	11.11	20.32	19.61	19.90	18.52	19.27
Inventory Turnover	66.56	63.89	59.82	54.47	36.11	71.15	64.93	61.52	56.06	50.09
Fixed Asset Turnover	2.96	3.03	1.34	0.67	0.31	0.66	0.58	0.57	0.56	0.62
Accounts Payable Turnover	21.49	20.57	20.28	23.47	18.27	28.27	24.82	24.34	26.18	30.12
Days Sales Outstanding (DSO)	21.18	20.11	19.96	16.98	32.85	17.97	18.61	18.34	19.71	18.94
Days Inventory Outstanding (DIO)	5.48	5.71	6.10	6.70	10.11	5.13	5.62	5.93	6.51	7.29
Days Payable Outstanding (DPO)	16.99	17.74	18.00	15.55	19.98	12.91	14.71	14.99	13.94	12.12
Cash Conversion Cycle (CCC)	9.67	8.08	8.07	8.12	22.98	10.18	9.52	9.28	12.27	14.11
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	7,356	7,603	8,018	18,218	17,685	21,271	23,843	22,202	20,503	17,472
Invested Capital Turnover	2.31	2.07	1.00	0.54	0.27	0.57	0.51	0.51	0.50	0.52
Increase / (Decrease) in Invested Capital	-247	-415	-10,200	532	-3,585	-2,572	1,641	1,699	3,032	-556
Enterprise Value (EV)	14,579	18,993	16,048	33,015	26,598	30,415	29,645	32,603	29,739	24,279
Market Capitalization	10,317	15,262	12,876	21,041	15,556	16,994	12,454	18,113	15,615	12,094
Book Value per Share	$10.15	$11.16	$12.58	$12.94	$13.17	$15.00	$12.35	$13.38	$10.85	$9.09
Tangible Book Value per Share	($12.89)	($9.01)	($4.55)	($2.19)	$1.56	$3.53	$1.42	$3.34	$0.55	($0.84)
Total Capital	10,082	10,711	14,088	24,215	24,095	24,300	25,963	24,600	23,011	20,467
Total Debt	6,362	6,344	8,719	13,091	12,849	11,532	15,391	12,909	12,988	12,697
Total Long-Term Debt	6,362	6,344	7,433	12,091	12,849	11,532	15,347	12,751	12,979	12,368
Net Debt	3,566	3,175	2,634	6,921	6,300	8,381	13,131	10,376	10,321	9,535
Capital Expenditures (CapEx)	1,137	774	-3,721	-3,504	-2,191	-3,415	1,461	1,863	2,259	1,459
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-1,404	-1,143	-987	-1,229	-1,008	-1,513	-1,905	-2,104	-1,502	-1,171
Debt-free Net Working Capital (DFNWC)	1,012	1,785	4,925	3,974	4,094	816	-379	-604	-55	499
Net Working Capital (NWC)	1,012	1,785	3,639	2,974	4,094	816	-422	-762	-64	171
Net Nonoperating Expense (NNE)	356	374	123	675	870	851	769	1,634	806	930
Net Nonoperating Obligations (NNO)	3,636	3,235	2,649	7,093	6,439	8,503	13,271	10,512	10,480	9,701
Total Depreciation and Amortization (D&A)	858	842	3,515	1,191	1,245	1,344	1,219	1,026	890	866
Debt-free, Cash-free Net Working Capital to Revenue	-8.14%	-7.07%	-7.52%	-12.70%	-19.52%	-11.73%	-16.20%	-19.49%	-15.85%	-12.74%
Debt-free Net Working Capital to Revenue	5.87%	11.04%	37.52%	41.05%	79.31%	6.33%	-3.22%	-5.59%	-0.59%	5.43%
Net Working Capital to Revenue	5.87%	11.04%	27.72%	30.72%	79.31%	6.33%	-3.59%	-7.06%	-0.67%	1.86%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.42	$3.22	$3.52	$2.44	($2.02)	$3.90	$0.82	$3.39	$1.94	($0.82)
Adjusted Weighted Average Basic Shares Outstanding	307.41M	354.93M	409.20M	481.93M	494.15M	524.17M	544.25M	572.25M	574.20M	564.86M
Adjusted Diluted Earnings per Share	$2.40	$3.19	$3.49	$2.41	($2.02)	$3.88	$0.81	$3.35	$1.92	($0.82)
Adjusted Weighted Average Diluted Shares Outstanding	310.23M	358.63M	412.99M	487.36M	494.15M	527.65M	549.54M	578.80M	574.20M	564.86M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$3.90	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	285.55M	319.68M	373.91M	439.17M	494.85M	492.43M	536.92M	566.37M	574.20M	564.86M
Normalized Net Operating Profit after Tax (NOPAT)	1,514	1,745	-473	522	-1,524	2,972	1,217	1,179	1,238	788
Normalized NOPAT Margin	8.78%	10.79%	-3.61%	5.39%	-29.53%	23.04%	10.35%	10.92%	13.06%	8.57%
Pre Tax Income Margin	6.48%	9.11%	6.88%	15.10%	-29.28%	22.07%	5.39%	8.90%	13.27%	-11.38%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.52	4.20	2.52	2.83	-1.23	4.36	1.82	2.44	2.81	-0.31
NOPAT to Interest Expense	3.20	3.67	0.55	2.36	-0.66	3.61	1.76	5.57	2.94	-0.14
EBIT Less CapEx to Interest Expense	0.95	2.52	8.77	7.21	2.01	8.38	-0.08	-0.35	-0.44	-2.14
NOPAT Less CapEx to Interest Expense	0.64	1.99	6.81	6.74	2.58	7.64	-0.14	2.78	-0.31	-1.97
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	17.71%	13.47%	103.88%	27.22%	-27.58%	22.34%	76.30%	20.23%	8.36%	-29.55%
Augmented Payout Ratio	145.26%	187.77%	1,446.31%	172.34%	-54.38%	68.92%	296.09%	35.91%	14.44%	-29.55%

This table displays calculated financial ratios and metrics derived from MGM Resorts International's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-2.43%	-0.66%	5.28%	9.77%	13.17%	21.81%	16.31%	20.75%	35.70%	17.51%	26.17%
EBITDA Growth	-6.04%	-17.04%	19.17%	-3.67%	-33.41%	-58.27%	54.91%	-77.65%	132.75%	133.57%	-83.35%
EBIT Growth	-17.51%	-26.40%	21.79%	-2.70%	-41.56%	314.31%	131.61%	-83.08%	520.98%	-70.45%	-158.31%
NOPAT Growth	-18.21%	-32.19%	-25.86%	38.70%	-26.35%	37,571.45%	147.72%	-81.82%	633.53%	-100.46%	-146.84%
Net Income Growth	-24.35%	-37.33%	15.23%	16.12%	-37.54%	218.62%	119.97%	-84.99%	1,479.25%	-375.67%	-179.31%
EPS Growth	-23.88%	-44.68%	32.61%	9.09%	-45.97%	17.50%	131.72%	-86.90%	2,166.67%	321.05%	-152.35%
Operating Cash Flow Growth	-0.40%	-6.20%	-3.84%	-17.77%	-21.98%	69.18%	73.28%	12.59%	67.44%	-13.05%	-22.71%
Free Cash Flow Firm Growth	-32.38%	-35.94%	-85.26%	-79.25%	-95.54%	-91.06%	-77.89%	-73.12%	2,819.39%	4,325.33%	854.66%
Invested Capital Growth	-0.05%	-3.25%	-0.29%	-0.92%	-1.18%	-5.17%	-17.12%	-22.06%	-57.95%	-55.99%	-50.70%
Revenue Q/Q Growth	-1.60%	3.91%	-3.33%	-1.28%	0.18%	10.13%	0.79%	1.78%	7.82%	5.16%	4.63%
EBITDA Q/Q Growth	16.40%	-18.24%	11.32%	-11.32%	2.78%	17.45%	-10.02%	-38.69%	-35.60%	336.02%	-87.02%
EBIT Q/Q Growth	19.02%	-23.09%	6.41%	-15.32%	6.20%	27.27%	-14.98%	-49.14%	652.96%	109.71%	-145.51%
NOPAT Q/Q Growth	-2.97%	30.18%	-41.62%	10.92%	-19.55%	42.33%	9.21%	-41.10%	41,027.52%	99.82%	-141.60%
Net Income Q/Q Growth	-4.70%	-2.56%	-13.66%	-5.65%	-21.04%	79.16%	-13.00%	-49.25%	249.96%	69.84%	-165.39%
EPS Q/Q Growth	-1.92%	-14.75%	1.67%	-10.45%	-28.72%	104.35%	-16.36%	-55.65%	55.00%	155.17%	-134.52%
Operating Cash Flow Q/Q Growth	-18.54%	0.62%	40.74%	-13.66%	-23.28%	3.15%	20.35%	-18.09%	66.37%	5.65%	-21.80%
Free Cash Flow Firm Q/Q Growth	-43.37%	108.04%	-45.31%	4.94%	-46.35%	-52.12%	-23.03%	-77.43%	7.55%	18.37%	-6.42%
Invested Capital Q/Q Growth	1.58%	-2.08%	-0.43%	0.92%	-1.67%	0.92%	-1.06%	0.65%	-5.65%	-11.79%	-6.96%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	45.76%	44.91%	44.66%	46.31%	46.14%	45.71%	47.21%	47.14%	48.45%	48.42%	49.63%
EBITDA Margin	14.43%	12.20%	15.51%	13.46%	14.99%	14.61%	13.70%	15.34%	25.47%	42.65%	10.29%
Operating Margin	9.00%	6.71%	7.53%	9.84%	10.46%	9.58%	9.31%	9.42%	18.87%	-0.05%	-30.62%
EBIT Margin	8.75%	7.23%	9.77%	8.87%	10.34%	9.76%	8.44%	10.01%	20.03%	2.87%	-31.07%
Profit (Net Income) Margin	5.30%	5.47%	5.84%	6.54%	6.84%	8.68%	5.33%	6.18%	12.39%	-8.91%	-31.06%
Tax Burden Percent	84.99%	115.67%	82.28%	104.26%	87.28%	118.60%	94.45%	86.15%	74.32%	939.09%	89.43%
Interest Burden Percent	71.32%	65.45%	72.62%	70.64%	75.73%	74.97%	66.86%	71.63%	83.21%	-33.07%	111.79%
Effective Tax Rate	15.01%	-15.67%	17.72%	-4.26%	12.72%	-18.60%	5.55%	13.85%	25.68%	0.00%	0.00%
Return on Invested Capital (ROIC)	17.54%	17.89%	14.22%	23.08%	20.24%	23.52%	16.27%	13.84%	15.53%	-0.04%	-19.61%
ROIC Less NNEP Spread (ROIC-NNEP)	14.77%	14.99%	13.77%	18.10%	16.75%	19.52%	11.84%	10.90%	14.30%	-6.58%	-26.33%
Return on Net Nonoperating Assets (RNNOA)	13.98%	12.74%	11.14%	13.47%	10.36%	11.80%	7.04%	4.65%	9.67%	-3.89%	-14.52%
Return on Equity (ROE)	31.52%	30.62%	25.36%	36.55%	30.60%	35.32%	23.32%	18.49%	25.20%	-3.92%	-34.13%
Cash Return on Invested Capital (CROIC)	18.12%	22.29%	21.36%	23.28%	22.06%	26.93%	28.45%	25.23%	88.78%	80.27%	75.71%
Operating Return on Assets (OROA)	3.57%	2.95%	3.95%	3.57%	4.03%	3.58%	2.89%	3.25%	6.90%	0.87%	-8.82%
Return on Assets (ROA)	2.16%	2.23%	2.36%	2.63%	2.66%	3.19%	1.82%	2.01%	4.26%	-2.70%	-8.82%
Return on Common Equity (ROCE)	25.89%	25.88%	21.95%	32.09%	27.32%	31.36%	19.70%	15.40%	16.38%	-2.59%	-22.45%
Return on Equity Simple (ROE_SIMPLE)	34.75%	0.00%	37.32%	36.54%	32.83%	0.00%	15.52%	-14.89%	14.91%	0.00%	13.28%
Net Operating Profit after Tax (NOPAT)	327	337	259	444	400	497	349	320	543	-1.33	-732
NOPAT Margin	7.65%	7.76%	6.19%	10.26%	9.13%	11.37%	8.79%	8.12%	14.02%	-0.04%	-21.43%
Net Nonoperating Expense Percent (NNEP)	2.77%	2.89%	0.44%	4.98%	3.49%	4.00%	4.44%	2.94%	1.23%	6.54%	6.72%
Return On Investment Capital (ROIC_SIMPLE)	3.27%	3.36%	-	-	-	4.66%	-	-	-	-0.01%	-
Cost of Revenue to Revenue	54.24%	55.09%	55.35%	53.69%	53.86%	54.29%	52.79%	52.86%	51.55%	51.58%	50.37%
SG&A Expenses to Revenue	30.56%	31.85%	31.12%	30.85%	30.21%	31.41%	33.08%	32.00%	32.61%	37.29%	38.93%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	36.76%	38.21%	37.13%	36.48%	35.69%	36.13%	37.90%	37.72%	29.58%	48.49%	80.24%
Earnings before Interest and Taxes (EBIT)	374	314	409	384	453	427	335	395	776	103	-1,061
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	617	530	649	583	657	639	544	605	987	1,532	351
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.97	3.41	3.67	4.34	4.67	4.00	3.25	3.62	3.43	2.67	2.41
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.49	0.60	0.69	0.82	0.97	0.94	0.84	1.08	1.17	0.98	0.93
Price to Earnings (P/E)	12.49	13.82	13.16	15.86	18.06	13.36	11.59	42.63	8.48	8.74	8.85
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.03%	0.02%	0.02%	0.03%	0.03%
Earnings Yield	8.01%	7.24%	7.60%	6.31%	5.54%	7.48%	8.63%	2.35%	11.79%	11.44%	11.30%
Enterprise Value to Invested Capital (EV/IC)	1.74	1.98	2.14	2.41	2.68	2.50	2.17	2.51	2.54	2.00	1.75
Enterprise Value to Revenue (EV/Rev)	0.76	0.85	0.93	1.07	1.20	1.18	1.06	1.29	1.36	1.22	1.26
Enterprise Value to EBITDA (EV/EBITDA)	5.46	6.03	6.35	7.52	8.19	6.84	4.46	5.50	3.45	3.20	3.84
Enterprise Value to EBIT (EV/EBIT)	8.77	9.34	9.59	11.38	12.44	9.83	10.16	90.01	8.94	10.71	9.10
Enterprise Value to NOPAT (EV/NOPAT)	9.61	10.26	10.12	10.75	12.76	11.25	20.22	502.45	20.91	48.74	14.81
Enterprise Value to Operating Cash Flow (EV/OCF)	5.50	6.17	6.67	7.48	7.90	7.06	6.82	9.08	9.42	9.14	8.73
Enterprise Value to Free Cash Flow (EV/FCFF)	9.59	8.74	9.98	10.32	12.07	9.03	6.92	8.72	1.69	1.52	1.52
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.77	1.71	1.79	1.64	1.54	1.45	1.46	1.38	1.31	1.62	1.44
Long-Term Debt to Equity	1.77	1.71	1.62	1.64	1.54	1.45	1.46	1.38	1.31	1.38	1.21
Financial Leverage	0.95	0.85	0.81	0.74	0.62	0.60	0.59	0.43	0.68	0.59	0.55
Leverage Ratio	10.93	10.46	10.26	9.75	9.22	9.04	8.63	7.50	5.39	5.25	5.00
Compound Leverage Factor	7.80	6.85	7.45	6.89	6.98	6.78	5.77	5.37	4.49	-1.74	5.59
Debt to Total Capital	63.92%	63.10%	64.19%	62.06%	60.70%	59.23%	59.32%	58.07%	56.80%	61.89%	58.95%
Short-Term Debt to Total Capital	0.00%	0.00%	6.27%	0.00%	0.00%	0.00%	0.00%	0.30%	0.30%	9.13%	9.31%
Long-Term Debt to Total Capital	63.92%	63.10%	57.92%	62.06%	60.70%	59.23%	59.32%	57.76%	56.50%	52.76%	49.64%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	7.65%	6.91%	5.79%	6.25%	5.84%	5.19%	4.52%	3.71%	3.24%	3.81%	7.71%
Common Equity to Total Capital	28.43%	29.99%	30.03%	31.69%	33.47%	35.58%	36.16%	38.22%	39.97%	34.30%	33.34%
Debt to EBITDA	2.70	2.63	2.73	2.60	2.56	2.29	1.77	1.93	1.23	1.74	2.07
Net Debt to EBITDA	1.58	1.47	1.40	1.50	1.35	1.14	0.81	0.78	0.40	0.53	0.74
Long-Term Debt to EBITDA	2.70	2.63	2.47	2.60	2.56	2.29	1.77	1.92	1.23	1.48	1.74
Debt to NOPAT	4.75	4.48	4.36	3.71	3.99	3.76	8.04	176.35	7.48	26.48	7.98
Net Debt to NOPAT	2.78	2.51	2.24	2.15	2.10	1.88	3.66	71.20	2.41	8.00	2.87
Long-Term Debt to NOPAT	4.75	4.48	3.93	3.71	3.99	3.76	8.04	175.43	7.44	22.58	6.72
Altman Z-Score	0.69	0.72	0.74	0.81	0.84	0.83	0.79	0.85	0.89	0.73	0.58
Noncontrolling Interest Sharing Ratio	17.85%	15.49%	13.45%	12.23%	10.71%	11.23%	15.50%	16.71%	35.02%	33.90%	34.22%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.31	1.30	1.24	1.47	1.51	1.57	1.78	2.04	2.19	1.81	1.49
Quick Ratio	1.02	1.04	1.01	1.14	1.20	1.23	1.39	1.65	1.85	1.50	1.02
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	331	584	281	514	489	912	1,905	2,475	10,968	10,199	8,616
Operating Cash Flow to CapEx	239.97%	170.31%	199.56%	200.01%	320.21%	217.31%	331.70%	227.91%	0.00%	205.21%	182.94%
Free Cash Flow to Firm to Interest Expense	3.08	5.38	2.51	4.55	4.45	8.53	17.14	22.11	84.18	74.37	68.83
Operating Cash Flow to Interest Expense	5.10	6.18	5.97	4.21	4.99	6.70	6.24	5.15	5.40	3.09	3.20
Operating Cash Flow Less CapEx to Interest Expense	2.97	2.55	2.98	2.10	3.43	3.62	4.36	2.89	5.54	1.58	1.45
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.41	0.41	0.40	0.40	0.39	0.37	0.34	0.32	0.34	0.30	0.28
Accounts Receivable Turnover	18.09	17.24	19.44	19.83	19.89	18.15	20.21	21.60	21.01	18.28	20.28
Inventory Turnover	66.24	66.56	66.79	65.70	64.60	63.89	64.46	62.23	62.22	59.82	61.34
Fixed Asset Turnover	2.90	2.96	3.08	3.12	3.10	3.03	2.97	2.89	1.47	1.34	1.28
Accounts Payable Turnover	22.56	21.49	23.30	24.07	22.42	20.57	19.67	21.32	22.85	20.28	18.80
Days Sales Outstanding (DSO)	20.17	21.18	18.78	18.41	18.35	20.11	18.06	16.90	17.37	19.96	18.00
Days Inventory Outstanding (DIO)	5.51	5.48	5.46	5.56	5.65	5.71	5.66	5.87	5.87	6.10	5.95
Days Payable Outstanding (DPO)	16.18	16.99	15.66	15.16	16.28	17.74	18.55	17.12	15.98	18.00	19.42
Cash Conversion Cycle (CCC)	9.51	9.67	8.58	8.80	7.73	8.08	5.16	5.65	7.26	8.07	4.53
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	7,472	7,356	7,512	7,544	7,476	7,603	7,534	7,614	7,565	8,018	9,089
Invested Capital Turnover	2.29	2.31	2.30	2.25	2.22	2.07	1.85	1.71	1.11	1.00	0.91
Increase / (Decrease) in Invested Capital	-3.66	-247	-22	-70	-89	-415	-1,556	-2,155	-10,425	-10,200	-9,348
Enterprise Value (EV)	12,982	14,579	16,042	18,214	20,030	18,993	16,352	19,116	19,220	16,048	15,882
Market Capitalization	8,464	10,317	11,874	13,940	16,126	15,262	12,899	15,978	16,609	12,876	11,682
Book Value per Share	$9.99	$10.15	$10.64	$10.24	$10.79	$11.16	$11.30	$12.14	$12.94	$12.58	$12.32
Tangible Book Value per Share	($14.04)	($12.89)	($12.25)	($11.47)	($10.55)	($9.01)	($8.29)	($6.45)	($5.19)	($4.55)	($7.40)
Total Capital	10,036	10,082	10,764	10,139	10,329	10,711	10,967	11,554	12,110	14,088	14,523
Total Debt	6,415	6,362	6,909	6,293	6,270	6,344	6,506	6,709	6,878	8,719	8,561
Total Long-Term Debt	6,415	6,362	6,234	6,293	6,270	6,344	6,506	6,674	6,841	7,433	7,210
Net Debt	3,750	3,566	3,545	3,641	3,301	3,175	2,957	2,709	2,219	2,634	3,080
Capital Expenditures (CapEx)	228	394	334	237	172	329	209	253	-18	206	219
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-1,301	-1,404	-1,330	-1,005	-1,182	-1,143	-1,019	-941	-1,082	-987	-1,056
Debt-free Net Working Capital (DFNWC)	970	1,012	1,621	1,409	1,540	1,785	2,297	2,903	3,423	4,925	4,239
Net Working Capital (NWC)	970	1,012	946	1,409	1,540	1,785	2,297	2,868	3,387	3,639	2,888
Net Nonoperating Expense (NNE)	101	99	15	161	100	118	138	76	63	319	329
Net Nonoperating Obligations (NNO)	3,851	3,636	3,657	3,698	3,416	3,235	3,072	2,769	2,333	2,649	3,128
Total Depreciation and Amortization (D&A)	243	216	240	199	204	212	209	210	211	1,429	1,413
Debt-free, Cash-free Net Working Capital to Revenue	-7.59%	-8.14%	-7.70%	-5.89%	-7.09%	-7.07%	-6.63%	-6.35%	-7.65%	-7.52%	-8.39%
Debt-free Net Working Capital to Revenue	5.66%	5.87%	9.38%	8.26%	9.23%	11.04%	14.93%	19.58%	24.20%	37.52%	33.66%
Net Working Capital to Revenue	5.66%	5.87%	5.48%	8.26%	9.23%	11.04%	14.93%	19.34%	23.94%	27.72%	22.93%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.52	$0.53	$0.61	$0.60	$0.68	$0.95	$0.46	$0.56	$1.25	$0.79	($1.45)
Adjusted Weighted Average Basic Shares Outstanding	287.13M	307.41M	300.50M	311.18M	320.49M	354.93M	347.35M	361.05M	374.09M	409.20M	393.30M
Adjusted Diluted Earnings per Share	$0.51	$0.52	$0.61	$0.60	$0.67	$0.94	$0.46	$0.55	$1.24	$0.80	($1.45)
Adjusted Weighted Average Diluted Shares Outstanding	289.10M	310.23M	303.48M	314.42M	323.76M	358.63M	351.39M	365.34M	378.10M	412.99M	393.30M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	272.15M	285.55M	297.74M	303.77M	313.68M	319.68M	341.58M	350.89M	363.80M	373.91M	384.02M
Normalized Net Operating Profit after Tax (NOPAT)	338	236	253	322	422	289	328	334	599	28	-720
Normalized NOPAT Margin	7.91%	5.44%	6.05%	7.45%	9.63%	6.61%	8.26%	8.47%	15.46%	0.77%	-21.08%
Pre Tax Income Margin	6.24%	4.73%	7.09%	6.27%	7.83%	7.32%	5.65%	7.17%	16.67%	-0.95%	-34.73%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.49	2.89	3.65	3.41	4.12	3.99	3.02	3.53	5.96	0.75	-8.48
NOPAT to Interest Expense	3.05	3.11	2.32	3.94	3.64	4.65	3.14	2.86	4.17	-0.01	-5.85
EBIT Less CapEx to Interest Expense	1.36	-0.74	0.66	1.30	2.56	0.91	1.14	1.26	6.09	-0.75	-10.23
NOPAT Less CapEx to Interest Expense	0.93	-0.53	-0.67	1.83	2.08	1.57	1.26	0.60	4.31	-1.51	-7.60
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	19.04%	17.71%	9.25%	9.40%	15.05%	13.47%	28.11%	-25.54%	15.74%	103.88%	46.16%
Augmented Payout Ratio	154.23%	145.26%	163.53%	188.62%	218.97%	187.77%	356.58%	-293.52%	328.69%	1,446.31%	536.23%

Frequently Asked Questions About MGM Resorts International's Financials

When does MGM Resorts International's fiscal year end?

According to the most recent income statement we have on file, MGM Resorts International's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has MGM Resorts International's net income changed over the last 9 years?

MGM Resorts International's net income appears to be on an upward trend, with a most recent value of $1.06 billion in 2024, falling from -$1.04 billion in 2015. The previous period was $1.31 billion in 2023. View MGM Resorts International's forecast to see where analysts expect MGM Resorts International to go next.

What is MGM Resorts International's operating income?

MGM Resorts International's total operating income in 2024 was $1.49 billion, based on the following breakdown:

Total Gross Profit: $7.85 billion
Total Operating Expenses: $6.36 billion

How has MGM Resorts International revenue changed over the last 9 years?

Over the last 9 years, MGM Resorts International's total revenue changed from $9.19 billion in 2015 to $17.24 billion in 2024, a change of 87.6%.

How much debt does MGM Resorts International have?

MGM Resorts International's total liabilities were at $38.51 billion at the end of 2024, a 1.3% increase from 2023, and a 120.8% increase since 2015.

How much cash does MGM Resorts International have?

In the past 9 years, MGM Resorts International's cash and equivalents has ranged from $1.45 billion in 2016 to $5.91 billion in 2022, and is currently $2.42 billion as of their latest financial filing in 2024.

How has MGM Resorts International's book value per share changed over the last 9 years?

Over the last 9 years, MGM Resorts International's book value per share changed from 9.09 in 2015 to 10.15 in 2024, a change of 11.8%.

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This page (NYSE:MGM) was last updated on 6/1/2025 by MarketBeat.com Staff

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MGM Resorts International (MGM) Financials

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MGM Resorts International (MGM) Financials

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