MGM Resorts International (MGM) Financial Ratios
30 years of historical data (1996–2025) · Consumer Cyclical · Gambling, Resorts & Casinos
EV/EBITDA
↑
31.61
↑+84% vs avg
5yr avg: 17.23
30Y Low3.7·High55.4
P/FCF
↓
5.85
↓-53% vs avg
5yr avg: 12.47
30Y Low5.8·High60.4
P/B Ratio
↑
3.08
+10% vs avg
5yr avg: 2.81
30Y Low0.6·High4.4
ROE
↓
5.9%
↑-62% vs avg
5yr avg: 15.4%
30Y Low-42%·High48%
Debt/EBITDA
↑
27.81
↑+107% vs avg
5yr avg: 13.46
30Y Low0.2·High37.0
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
MGM Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
MGM Resorts International trades at 50.1x earnings, 55% above its 5-year average of 32.4x, sitting at the 95th percentile of its historical range. Compared to the Consumer Cyclical sector median P/E of 19.4x, the stock trades at a premium of 158%. On a free-cash-flow basis, the stock trades at 5.8x P/FCF, 53% below the 5-year average of 12.5x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $9.8B | $9.7B | $10.7B | $16.0B | $13.8B | $21.9B | $15.6B | $17.6B | $13.3B | $19.3B | $16.5B |
| Enterprise Value | $63.8B | $63.8B | $40.2B | $44.7B | $41.9B | $41.9B | $31.5B | $30.9B | $26.9B | $30.7B | $28.1B |
| P/E Ratio → | 50.14 | 48.01 | 14.44 | 14.01 | 67.06 | 18.62 | — | 8.57 | 28.54 | 10.00 | 15.02 |
| P/S Ratio | 0.56 | 0.55 | 0.62 | 0.99 | 1.05 | 2.26 | 3.17 | 1.36 | 1.13 | 1.79 | 1.75 |
| P/B Ratio | 3.08 | 2.95 | 2.89 | 3.67 | 2.58 | 1.97 | 1.38 | 1.37 | 1.26 | 1.65 | 1.65 |
| P/FCF | 5.85 | 5.80 | 8.87 | 9.07 | 13.82 | 24.78 | — | 16.38 | 56.56 | 56.45 | — |
| P/OCF | 3.56 | 3.53 | 4.55 | 5.94 | 7.84 | 15.93 | — | 9.70 | 7.74 | 8.76 | 10.78 |
P/E links to full P/E history page with 30-year chart
MGM EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
MGM Resorts International's enterprise value stands at 31.6x EBITDA, 84% above its 5-year average of 17.2x. The Consumer Cyclical sector median is 11.4x, placing the stock at a 178% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.64 | 2.33 | 2.77 | 3.19 | 4.32 | 6.40 | 2.39 | 2.29 | 2.85 | 2.97 |
| EV / EBITDA | 31.61 | 31.57 | 17.31 | 16.53 | 8.52 | 12.21 | 55.42 | 5.89 | 10.17 | 11.36 | 9.58 |
| EV / EBIT | 63.73 | 91.11 | 25.76 | 28.24 | 27.98 | 18.51 | — | 8.36 | 20.24 | 19.50 | 14.38 |
| EV / FCF | — | 38.23 | 33.16 | 25.30 | 41.86 | 47.42 | — | 28.83 | 114.28 | 89.78 | — |
MGM Profitability
Margins and return-on-capital ratios measuring operating efficiency
MGM Resorts International earns an operating margin of 5.7%, above the Consumer Cyclical sector average of 2.9%. Operating margins have compressed from 11.7% to 5.7% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 5.9% is modest. ROIC of 1.7% represents below-average returns on invested capital versus a sector median of 5.8%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 44.4% | 44.4% | 45.5% | 47.1% | 49.3% | 48.0% | 34.8% | 41.1% | 41.2% | 42.6% | 41.9% |
| Operating Margin | 5.7% | 5.7% | 8.6% | 11.7% | 11.0% | 23.5% | -13.1% | 30.5% | 12.5% | 15.9% | 22.0% |
| Net Profit Margin | 1.2% | 1.2% | 4.3% | 7.1% | 11.2% | 13.0% | -21.0% | 15.9% | 4.0% | 18.1% | 11.6% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 5.9% | 5.9% | 18.5% | 23.5% | 17.9% | 11.2% | -8.6% | 17.6% | 4.2% | 18.0% | 12.4% |
| ROA | 0.5% | 0.5% | 1.8% | 2.6% | 3.4% | 3.2% | -2.9% | 6.4% | 1.6% | 6.8% | 4.1% |
| ROIC | 1.7% | 1.7% | 3.4% | 4.3% | 3.3% | 5.9% | -1.8% | 11.8% | 4.7% | 5.8% | 7.7% |
| ROCE | 2.6% | 2.6% | 3.8% | 4.7% | 3.7% | 6.3% | -2.0% | 13.6% | 5.5% | 6.6% | 8.5% |
MGM Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
MGM Resorts International carries a Debt/EBITDA ratio of 27.8x, which is highly leveraged (533% above the sector average of 4.4x). Net debt stands at $54.1B ($56.2B total debt minus $2.1B cash). Interest coverage of just 1.7x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 17.14 | 17.14 | 8.56 | 7.24 | 6.33 | 2.22 | 1.87 | 1.23 | 1.43 | 1.10 | 1.30 |
| Debt / EBITDA | 27.81 | 27.81 | 13.72 | 11.69 | 6.91 | 7.20 | 36.99 | 2.99 | 5.72 | 4.77 | 4.43 |
| Net Debt / Equity | — | 16.51 | 7.91 | 6.57 | 5.23 | 1.80 | 1.42 | 1.04 | 1.29 | 0.98 | 1.15 |
| Net Debt / EBITDA | 26.78 | 26.78 | 12.68 | 10.60 | 5.71 | 5.83 | 28.02 | 2.54 | 5.14 | 4.22 | 3.94 |
| Debt / FCF | — | 32.44 | 24.29 | 16.23 | 28.03 | 22.65 | — | 12.45 | 57.72 | 33.33 | — |
| Interest Coverage | 1.67 | 1.67 | 3.52 | 3.44 | 2.52 | 2.83 | -2.94 | 4.36 | 1.73 | 2.36 | 2.81 |
MGM Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.23x means MGM Resorts International can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has declined from 1.57x to 1.23x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.23 | 1.23 | 1.30 | 1.57 | 1.81 | 1.86 | 3.21 | 1.26 | 0.86 | 0.76 | 0.97 |
| Quick Ratio | 1.20 | 1.20 | 1.26 | 1.53 | 1.78 | 1.84 | 3.16 | 1.22 | 0.82 | 0.72 | 0.93 |
| Cash Ratio | 0.59 | 0.59 | 0.72 | 0.94 | 1.31 | 1.37 | 2.75 | 0.73 | 0.52 | 0.48 | 0.63 |
| Asset Turnover | — | 0.42 | 0.41 | 0.38 | 0.29 | 0.24 | 0.13 | 0.38 | 0.39 | 0.37 | 0.34 |
| Inventory Turnover | 78.27 | 78.27 | 66.83 | 60.37 | 52.77 | 52.20 | 36.32 | 73.90 | 62.43 | 60.54 | 56.23 |
| Days Sales Outstanding | — | 27.95 | 28.13 | 24.17 | 25.72 | 32.34 | 41.56 | 38.90 | 21.27 | 19.77 | 20.96 |
MGM Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
MGM Resorts International returns 12.6% to shareholders annually primarily through share buybacks. The earnings yield of 2.0% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | 0.0% | 0.0% | 0.5% | 1.5% | 2.0% | 1.3% | — |
| Payout Ratio | — | — | — | — | 0.3% | 0.4% | — | 13.2% | 55.8% | 12.9% | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.0% | 2.1% | 6.9% | 7.1% | 1.5% | 5.4% | — | 11.7% | 3.5% | 10.0% | 6.7% |
| FCF Yield | 17.1% | 17.3% | 11.3% | 11.0% | 7.2% | 4.0% | — | 6.1% | 1.8% | 1.8% | — |
| Buyback Yield | 12.6% | 12.7% | 12.6% | 14.3% | 20.0% | 8.0% | 2.3% | 5.9% | 9.6% | 1.7% | 0.6% |
| Total Shareholder Yield | 12.6% | 12.7% | 12.6% | 14.3% | 20.1% | 8.0% | 2.8% | 7.4% | 11.6% | 3.0% | 0.6% |
| Shares Outstanding | — | $265M | $310M | $359M | $413M | $487M | $494M | $528M | $550M | $579M | $573M |
Peer Comparison
Compare MGM with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 MGMYou | $10B | 50.1 | 31.6 | 5.8 | 44.4% | 5.7% | 5.9% | 1.7% | 27.8 |
 LVS | $36B | 22.9 | 10.4 | 21.6 | 28.2% | 23.7% | 63.9% | 16.9% | 3.5 |
 WYNN | $11B | 34.0 | 12.4 | 16.1 | 32.7% | 16.2% | — | 9.3% | 6.9 |
 CZR | $6B | -11.5 | 8.9 | 10.9 | 37.7% | 18.1% | -12.5% | 5.4% | 7.5 |
 MLCO | $2B | 12.4 | 7.3 | 4.8 | 36.7% | 11.6% | — | 8.6% | 6.2 |
 BYD | $6B | 3.8 | 7.9 | 16.5 | 42.1% | 21.4% | 88.0% | 12.3% | 2.8 |
 PENN | $2B | -2.9 | 13.8 | — | 27.4% | 3.9% | -36.0% | 1.8% | 11.7 |
 RRR | $3B | 17.2 | 3.9 | 11.0 | 52.6% | 29.7% | 58.9% | 23.4% | 0.1 |
 CHDN | $6B | 16.7 | 11.4 | 12.5 | 33.6% | 25.2% | 35.2% | 9.4% | 5.3 |
 MTN | $4B | 16.6 | 8.7 | 14.0 | 42.8% | 18.9% | 31.2% | 11.2% | 4.0 |
 DKNG | $13B | -3113.6 | 49.4 | 19.3 | 41.3% | -0.3% | 0.5% | -0.9% | 7.4 |
| Consumer Cyclical Median | — | 19.4 | 11.4 | 15.3 | 36.8% | 2.9% | 5.7% | 5.8% | 4.4 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Start ComparisonMGM — Frequently Asked Questions
Quick answers to the most common questions about buying MGM stock.
What is MGM Resorts International's P/E ratio?
MGM Resorts International's current P/E ratio is 50.1x. The historical average is 22.6x. This places it at the 95th percentile of its historical range.
What is MGM Resorts International's EV/EBITDA?
MGM Resorts International's current EV/EBITDA is 31.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 14.1x.
What is MGM Resorts International's ROE?
MGM Resorts International's return on equity (ROE) is 5.9%. The historical average is 6.6%.
Is MGM stock overvalued?
Based on historical data, MGM Resorts International is trading at a P/E of 50.1x. This is at the 95th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are MGM Resorts International's profit margins?
MGM Resorts International has 44.4% gross margin and 5.7% operating margin.
How much debt does MGM Resorts International have?
MGM Resorts International's Debt/EBITDA ratio is 27.8x, indicating high leverage. A ratio above 4x may signal elevated financial risk.