(MGM) MGM Resorts International - Overview
Sector: Consumer Cyclical | Industry: Resorts & Casinos | Exchange: NYSE (USA) | Market Cap: 9.825m USD | Total Return: 37.6% in 12m
Avg Turnover: 179M
Qual. Beats: 0
Rev. Trend: 86.3%
Qual. Beats: 2
Warnings
High Debt/EBITDA (32.3) with thin interest coverage (1.5)
Altman Z'' 0.52 < 1.0 - financial distress zone
Extended 1w
Tailwinds
Idiosyncratic Leader
MGM Resorts International (NYSE: MGM) is a global gaming and hospitality firm operating through four primary segments: Las Vegas Strip Resorts, Regional Operations, MGM China, and MGM Digital. The company manages a diverse portfolio of integrated resorts featuring casino gaming, hotel accommodations, convention facilities, and retail amenities. Its digital arm, BetMGM, facilitates online sports betting and iGaming, targeting a broad demographic ranging from premium gaming clients to business and leisure travelers.
The integrated resort business model relies on high-volume foot traffic and diversified revenue streams, where non-gaming amenities like dining and entertainment often serve as significant margins drivers alongside traditional floor gaming. In the Casinos & Gaming sub-industry, regulatory compliance and geographic diversification are critical factors for mitigating regional economic volatility. For a deeper look into these fundamental drivers, investors can explore the data available on ValueRay.
Incorporated in 1986 and headquartered in Las Vegas, the company rebranded from MGM MIRAGE to MGM Resorts International in 2010 to reflect its broader focus on global entertainment. The firm maintains a significant international footprint through its majority stake in MGM China Holdings Limited, which operates major resort properties in the Macau gaming hub.
- Recovery of international tourism and VIP gaming revenue strengthens MGM China margins
- BetMGM market share growth in sports betting determines digital segment profitability
- High interest rates and labor costs pressure Las Vegas Strip operating expenses
- Macroeconomic shifts in consumer discretionary spending impact hotel occupancy and ADR
- Expansion into Japanese integrated resorts offers long-term geographical revenue diversification
| Net Income: 182.8m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.04 > 0.02 and ΔFCF/TA 1.43 > 1.0 |
| NWC/Revenue: 6.41% < 20% (prev 5.66%; Δ 0.75% < -1%) |
| CFO/TA 0.07 > 3% & CFO 2.73b > Net Income 182.8m |
| Net Debt (54.0b) to EBITDA (1.67b): 32.28 < 3 |
| Current Ratio: 1.33 > 1.5 & < 3 |
| Outstanding Shares: last quarter (258.9m) vs 12m ago -10.45% < -2% |
| Gross Margin: 44.16% > 18% (prev 0.45%; Δ 4.37k% > 0.5%) |
| Asset Turnover: 42.53% > 50% (prev 40.89%; Δ 1.64% > 0%) |
| Interest Coverage Ratio: 1.52 > 6 (EBITDA TTM 1.67b / Interest Expense TTM 412.5m) |
| A: 0.03 (Total Current Assets 4.53b - Total Current Liabilities 3.39b) / Total Assets 41.4b |
| B: 0.05 (Retained Earnings 2.17b / Total Assets 41.4b) |
| C: 0.02 (EBIT TTM 627.0m / Avg Total Assets 41.7b) |
| D: 0.06 (Book Value of Equity 2.43b / Total Liabilities 38.1b) |
| Altman-Z'' = 0.52 = B |
| DSRI: 0.92 (Receivables 1.13b/1.18b, Revenue 17.7b/17.1b) |
| GMI: 1.03 (GM 44.16% / 45.42%) |
| AQI: 0.97 (AQ_t 0.19 / AQ_t-1 0.19) |
| SGI: 1.03 (Revenue 17.7b / 17.1b) |
| TATA: -0.06 (NI 182.8m - CFO 2.73b) / TA 41.4b) |
| Beneish M = -3.12 (Cap -4..+1) = AA |
As of May 31, 2026, the stock is trading at USD 43.67 with a total of 6,897,632 shares traded.
Over the past week, the price has changed by +15.96%,
over one month by +11.20%,
over three months by +18.48% and
over the past year by +37.63%.
MGM Resorts International has received a consensus analysts rating of 4.48. Therefore, it is recommended to buy MGM.
- StrongBuy: 14
- Buy: 3
- Hold: 4
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 43.9 | 0.5% |
P/E Trailing = 52.6027
P/E Forward = 20.4082
P/S = 0.5546
P/B = 4.0374
P/EG = 1.0923
Revenue TTM = 17.7b USD
EBIT TTM = 627.0m USD
EBITDA TTM = 1.67b USD
Long Term Debt = 6.40b USD (from longTermDebt, last quarter)
Short Term Debt = unknown (none)
Debt = 56.3b USD (from shortLongTermDebtTotal, last quarter) + Leases 24.9b
Net Debt = 54.0b USD (calculated: Debt 56.3b - CCE 2.29b)
Enterprise Value = 63.8b USD (9.82b + Debt 56.3b - CCE 2.29b)
Interest Coverage Ratio = 1.52 (Ebit TTM 627.0m / Interest Expense TTM 412.5m)
EV/FCF = 36.84x (Enterprise Value 63.8b / FCF TTM 1.73b)
FCF Yield = 2.71% (FCF TTM 1.73b / Enterprise Value 63.8b)
FCF Margin = 9.78% (FCF TTM 1.73b / Revenue TTM 17.7b)
Net Margin = 1.03% (Net Income TTM 182.8m / Revenue TTM 17.7b)
Gross Margin = 44.16% ((Revenue TTM 17.7b - Cost of Revenue TTM 9.89b) / Revenue TTM)
Gross Margin QoQ = 44.68% (prev 44.03%)
Tobins Q-Ratio = 1.54 (Enterprise Value 63.8b / Total Assets 41.4b)
Interest Expense / Debt = 0.73% (Interest Expense 412.5m / Debt 56.3b)
Taxrate = 13.58% (27.5m / 202.2m)
NOPAT = 541.9m (EBIT 627.0m * (1 - 13.58%))
Current Ratio = 1.33 (Total Current Assets 4.53b / Total Current Liabilities 3.39b)
Debt / Equity = 23.12 (Debt 56.3b / totalStockholderEquity, last quarter 2.43b)
Debt / EBITDA = 32.28 (Net Debt 54.0b / EBITDA 1.67b)
Debt / FCF = 31.17 (Net Debt 54.0b / FCF TTM 1.73b)
Total Stockholder Equity = 2.63b (last 4 quarters mean from totalStockholderEquity)
RoA = 0.44% (Net Income 182.8m / Total Assets 41.4b)
RoE = 6.96% (Net Income TTM 182.8m / Total Stockholder Equity 2.63b)
RoCE = 6.94% (EBIT 627.0m / Capital Employed (Equity 2.63b + L.T.Debt 6.40b))
RoIC = 1.43% (NOPAT 541.9m / Invested Capital 38.0b)
WACC = 2.09% (E(9.82b)/V(66.1b) * Re(10.46%) + D(56.3b)/V(66.1b) * Rd(0.73%) * (1-Tc(0.14)))
Discount Rate = 10.46% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -100.00 | Cagr: -11.43%
[DCF] Terminal Value 77.97% ; FCFF base≈1.50b ; Y1≈1.72b ; Y5≈2.53b
[DCF] Fair Price = N/A (negative equity: EV 38.1b - Net Debt 54.0b = -15.9b; debt exceeds intrinsic value)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.11 | # QB: 0
Revenue Correlation: 86.31 | Revenue CAGR: 5.40% | SUE: 1.20 | # QB: 2
EPS current Quarter (2026-06-30): EPS=0.60 | Chg30d=-0.43% | Revisions=-12% | Analysts=13
EPS next Quarter (2026-09-30): EPS=0.24 | Chg30d=+3.38% | Revisions=+8% | Analysts=13
EPS current Year (2026-12-31): EPS=1.99 | Chg30d=+4.75% | Revisions=-6% | GrowthEPS=-40.0% | GrowthRev=+0.9%
EPS next Year (2027-12-31): EPS=2.23 | Chg30d=-4.18% | Revisions=+11% | GrowthEPS=+12.1% | GrowthRev=+1.5%
[Analyst] Revisions Ratio: -12%