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 · 5 years

Total assets $41.4B

Total liabilities $38.1B

Shareholders equity $2.4B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	-19.8%	-21.6%	-23.9%	+16.0%	—
Accounts Receivable	+17.8%	+22.4%	+26.1%	+45.9%	—
Inventory	+6.6%	+13.4%	+21.2%	+30.8%	—
Prepaid Expenses	+17.1%	+22.7%	+72.5%	+125.2%	—
Other Current Assets	+17.1%	+22.7%	+72.5%	+125.2%	—
Total Current Assets	-9.4%	-12.1%	-12.5%	+27.1%	—
Property,Plant and Equipment	-18.7%	-24.6%	-38.6%	-63.8%	—
Operating Lease Assets	+18.9%	+27.0%	+44.6%	+113.4%	—
Goodwill	+8.9%	+13.9%	+21.8%	+44.5%	—
Intangible Assets	-21.7%	-22.0%	-30.9%	-57.1%	—
Deferred Tax Assets	-59.1%	-76.9%	+36.6%	+87.3%	—
Other Noncurrent Assets	+14.7%	+20.6%	+31.7%	+109.9%	—
Total Assets	+0.3%	+1.1%	+1.8%	+11.7%	—
Liabilities
Accounts Payable	+12.5%	+16.2%	+32.5%	+40.6%	—
Accrued Liabilities	+102.8%	+38.2%	+33.1%	+29.4%	—
Operating Lease Liabilities	+35.2%	+45.7%	+53.8%	+70.3%	—
Other Current Liabilities	+10.8%	+13.1%	+14.6%	+12.7%	—
Total Current Liabilities	+0.5%	-0.9%	-4.7%	+31.2%	—
Long Term Debt	-14.7%	-18.5%	-26.6%	-36.9%	—
Operating Lease Liabilities Noncurrent	+20.6%	+28.6%	+45.9%	+113.1%	—
Deferred Tax Liabilities	+1.8%	+4.8%	+8.3%	+21.7%	—
Other Noncurrent Liabilities	—	—	—	—	—
Total Liabilities	—	—	—	—	—
Equity
Common Stock	-13.1%	-13.4%	-15.2%	-16.5%	—
Additional Paid In Capital	—	—	—	—	—
Retained Earnings	-16.5%	-10.8%	-8.1%	+10.5%	—
Accumulated Other Comprehensive Income	—	—	—	—	—
Noncontrolling Interest	-36.0%	-48.7%	-67.4%	-92.3%	—
Total Stockholders Equity	-20.5%	-20.7%	-20.8%	-20.4%	—
Total Liabilitiesand Equity	+0.3%	+1.1%	+1.8%	+11.7%	—

Income Statement

Revenue, expense, and profitability

16 accounts · 5 years

Revenue $17.5B

Operating income $1.0B

Net income $205.9M

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	+16.0%	+21.2%	+29.2%	+35.6%	—
Expenses Cost of Revenue	+22.0%	+27.9%	+37.8%	+54.0%	—
Expenses Selling,General and Administrative	+18.1%	+24.4%	+36.9%	+68.6%	—
Expenses Depreciation and Amortization	-3.0%	-10.3%	-15.9%	+202.6%	—
Expenses Share Based Compensation	+8.5%	+7.2%	+6.3%	+9.4%	—
Expenses Operating Expenses	+22.0%	+27.9%	+37.8%	+54.0%	—
Other Income Expense Operating Income	-18.6%	-13.2%	-8.9%	-36.8%	—
Other Income Expense Other Income/expense	—	+2.3%	-19.6%	+25.6%	—
Other Income Expense Income Before Tax	-33.8%	-8.6%	+0.4%	-38.2%	—
Income Tax Income Tax Expense	—	-40.8%	-21.1%	+175.1%	—
net Income net Income	-36.4%	-15.9%	-4.6%	+17.4%	—
net Income Comprehensive Income	-17.3%	-24.4%	-0.1%	+21.3%	—
Earnings Per Share Basic Eps	-25.0%	-0.3%	+14.9%	+44.3%	—
Earnings Per Share Diluted Eps	-25.1%	-0.1%	+15.1%	+44.8%	—
Earnings Per Share Weighted Average Shares Basic	-13.1%	-13.9%	-14.2%	-15.1%	—
Earnings Per Share Weighted Average Shares Diluted	-13.2%	-14.0%	-14.2%	-15.3%	—

Cash Flow Statement

Operating, investing, and financing flows

21 accounts · 5 years

Operating cash flow $2.5B

Investing cash flow $-1.1B

Financing cash flow $-1.7B

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	-36.4%	-15.9%	-4.6%	+17.4%	—
Operating Activities Depreciation and Amortization	-3.0%	-10.3%	-15.9%	+202.6%	—
Operating Activities Stock Based Compensation	+8.5%	+7.2%	+6.3%	+9.4%	—
Operating Activities Deferred Income Taxes	—	—	—	+105.1%	—
Operating Activities Changes In Operating Assets and Liabilities	-28.6%	-23.4%	-14.2%	-6.3%	—
Operating Activities Other Non Cash Items	—	—	—	—	—
Operating Activities net Cash From Operating Activities	+16.5%	+19.8%	+40.0%	+27.9%	—
Investing Activities Capital Expenditures	+21.5%	+32.9%	+37.8%	+55.9%	—
Investing Activities Business Acquisitions	—	-60.1%	-73.9%	+5.6%	—
Investing Activities Other Investing Activities	—	—	—	—	—
Investing Activities net Cash From Investing Activities	—	—	—	+37.2%	—
Financing Activities Proceeds From Debt	-17.1%	+41.0%	—	—	—
Financing Activities Repayment of Debt	—	—	—	—	—
Financing Activities Repurchase of Common Stock	-8.5%	-8.2%	+14.3%	+58.3%	—
Financing Activities Dividends Paid	+143.8%	—	—	-15.5%	—
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	—	—	—	+721.6%	—
Cash Reconciliation Cash At Beginning of Period	-19.8%	-21.6%	-23.9%	+16.0%	—
Cash Reconciliation Cash At End of Period	-19.8%	-21.6%	-23.9%	+16.0%	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	+5.3%	+9.2%	+12.1%	+12.2%	+22.7%
Operating margin	+5.7%	+8.6%	+11.7%	+11.0%	+23.5%
Net margin	+1.2%	+4.3%	+7.1%	+11.2%	+13.0%
FCF margin	+8.3%	+7.0%	+10.9%	+7.6%	+9.1%
Growth
Revenue CAGR (3y)	+10.1%	+21.2%	+46.3%	+0.6%	-6.3%
Returns
ROE	+8.5%	+24.7%	+30.0%	+30.5%	+20.7%
ROA	+0.5%	+1.8%	+2.7%	+3.2%	+3.1%
ROIC	+15.4%	+20.6%	+23.7%	+4.4%	+13.8%
Liquidity
Current ratio	1.23x	1.30x	1.57x	1.81x	1.86x
Quick ratio	0.93x	1.07x	1.26x	1.53x	1.68x
Leverage
D/E	15.68x	12.74x	10.12x	8.46x	5.74x
Interest coverage	—	—	4.11x	2.42x	2.85x
Efficiency
Asset turnover	0.42x	0.41x	0.38x	0.29x	0.24x
Cash conversion cycle	+17d	+16d	+13d	+16d	+14d

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FY2025 fundamentals · no price

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MGM Resorts

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