MGM Resorts

Consumer Discretionary Casinos & Gaming Paradise, Nevada Last filing Feb 11, 2026 · FY2025

                    Revenue
                    FY2025
                
$17.5B
                    3y CAGR +10.1%
                    
                    P71
                    
                    +1.7%
                    
                    Net income
                    FY2025
                
$205.9M
                    Net margin +1.2%
                    
                    P10
                    
                    -72.4%
                    
                    Total assets
                    FY2025
                
$41.4B
                    ROA +0.5%
                    
                    P8
                    
                    -2.0%
                    
                    Operating cash flow
                    FY2025
                
$2.5B
                    FCF margin +8.3%
                    
                    P40
                    
                    +7.1%

18 yrs · FY2008–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Running CAGR since the earliest displayed year.

Balance Sheet

Assets, liabilities, and equity

30 accounts · 3 years

Total assets $41.4B

Total liabilities $38.1B

Shareholders equity $2.4B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	-15.5%	-17.0%	—
Accounts Receivable	+9.9%	+15.3%	—
Inventory	-6.2%	-0.8%	—
Prepaid Expenses	-20.5%	-37.9%	—
Other Current Assets	-20.5%	-37.9%	—
Total Current Assets	-6.1%	-11.1%	—
Property,Plant and Equipment	+7.6%	+13.7%	—
Operating Lease Assets	-2.2%	-2.1%	—
Goodwill	-2.6%	-0.4%	—
Intangible Assets	-11.3%	-0.5%	—
Deferred Tax Assets	-87.7%	-99.3%	—
Other Noncurrent Assets	-0.1%	+1.1%	—
Total Assets	-1.2%	-0.3%	—
Liabilities
Accounts Payable	-4.5%	-10.6%	—
Accrued Liabilities	+208.9%	+48.8%	—
Operating Lease Liabilities	+18.9%	+30.7%	—
Other Current Liabilities	+7.2%	+10.2%	—
Total Current Liabilities	+6.0%	+7.2%	—
Long Term Debt	-0.9%	+0.3%	—
Operating Lease Liabilities Noncurrent	-0.3%	-0.2%	—
Deferred Tax Liabilities	-4.4%	-1.7%	—
Other Noncurrent Liabilities	+19.5%	+67.7%	—
Total Liabilities	—	—	—
Equity
Common Stock	-11.1%	-9.9%	—
Additional Paid In Capital	—	—	—
Retained Earnings	-24.2%	-15.9%	—
Accumulated Other Comprehensive Income	+49.2%	—	—
Noncontrolling Interest	+25.6%	+26.5%	—
Total Stockholders Equity	-20.2%	-20.7%	—
Total Liabilitiesand Equity	-1.2%	-0.3%	—

Income Statement

Revenue, expense, and profitability

16 accounts · 3 years

Revenue $17.5B

Operating income $1.0B

Net income $205.9M

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	+4.2%	+6.7%	—
Expenses Cost of Revenue	+8.1%	+10.2%	—
Expenses Selling,General and Administrative	+1.9%	+2.7%	—
Expenses Depreciation and Amortization	+11.8%	+2.1%	—
Expenses Share Based Compensation	+10.9%	+9.0%	—
Expenses Operating Expenses	+8.1%	+10.2%	—
Other Income Expense Operating Income	-27.2%	-21.2%	—
Other Income Expense Other Income/expense	—	+65.7%	—
Other Income Expense Income Before Tax	-56.3%	-24.2%	—
Income Tax Income Tax Expense	—	-66.8%	—
net Income net Income	-57.5%	-34.6%	—
net Income Comprehensive Income	-31.5%	-56.8%	—
Earnings Per Share Basic Eps	-51.1%	-24.8%	—
Earnings Per Share Diluted Eps	-51.2%	-24.8%	—
Earnings Per Share Weighted Average Shares Basic	-12.0%	-13.4%	—
Earnings Per Share Weighted Average Shares Diluted	-12.1%	-13.5%	—

Cash Flow Statement

Operating, investing, and financing flows

21 accounts · 3 years

Operating cash flow $2.5B

Investing cash flow $-1.1B

Financing cash flow $-1.7B

Account	2025	2024	2023
CashFlow
Operating Activities net Income	-57.5%	-34.6%	—
Operating Activities Depreciation and Amortization	+11.8%	+2.1%	—
Operating Activities Stock Based Compensation	+10.9%	+9.0%	—
Operating Activities Deferred Income Taxes	—	—	—
Operating Activities Changes In Operating Assets and Liabilities	-40.7%	-38.9%	—
Operating Activities Other Non Cash Items	—	+216.6%	—
Operating Activities net Cash From Operating Activities	-3.0%	-12.2%	—
Investing Activities Capital Expenditures	+7.1%	+23.5%	—
Investing Activities Business Acquisitions	—	-6.7%	—
Investing Activities Other Investing Activities	-38.0%	—	—
Investing Activities net Cash From Investing Activities	—	—	—
Financing Activities Proceeds From Debt	—	—	—
Financing Activities Repayment of Debt	-37.6%	+69.2%	—
Financing Activities Repurchase of Common Stock	-26.8%	-40.8%	—
Financing Activities Dividends Paid	—	—	—
Financing Activities Other Financing Activities	—	—	—
Financing Activities net Cash From Financing Activities	—	—	—
Cash Reconciliation Effect of Exchange Rate On Cash	—	—	—
Cash Reconciliation net Change In Cash	—	—	—
Cash Reconciliation Cash At Beginning of Period	-15.5%	-17.0%	—
Cash Reconciliation Cash At End of Period	-15.5%	-17.0%	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	+5.3%	+9.2%	+12.1%
Operating margin	+5.7%	+8.6%	+11.7%
Net margin	+1.2%	+4.3%	+7.1%
FCF margin	+8.3%	+7.0%	+10.9%
Growth
Revenue CAGR (3y)	+10.1%	+21.2%	+46.3%
Returns
ROE	+8.5%	+24.7%	+30.0%
ROA	+0.5%	+1.8%	+2.7%
ROIC	+15.4%	+20.6%	+23.7%
Liquidity
Current ratio	1.23x	1.30x	1.57x
Quick ratio	0.93x	1.07x	1.26x
Leverage
D/E	15.68x	12.74x	10.12x
Interest coverage	—	—	4.11x
Efficiency
Asset turnover	0.42x	0.41x	0.38x
Cash conversion cycle	+17d	+16d	+13d

Valuation

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FY2025 fundamentals · no price

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MGM Resorts

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