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MGM - MGM Resorts International

NYSE -> Consumer Cyclical -> Resorts & Casinos
Las Vegas, United States
Type: Equity

MGM price evolution
MGM
(in millions $) 31 Dec 2023 30 Sep 2023 30 Jun 2023 31 Mar 2023
Current assets
Cash $2927.83 $3316.36 $3843.37 $4505.32
Short term investments
Net receivables $929.13 $812.19 $703.97 $752.97
Inventory $141.68 $135.86 $130.89 $128.73
Total current assets $4910.59 $5259.17 $5616.99 $6231.1
Long term investments $240.8 $232 $156.99 $153.86
Property, plant & equipment $29477.01 $29407.17 $29510.18 $29544.05
Goodwill & intangible assets $6890.28 $6876.22 $6763.2 $6781.06
Total noncurrent assets $37457.96 $37313.29 $37288.83 $37311.13
Total investments $240.8 $232 $156.99 $153.86
Total assets $42368.55 $42572.46 $42905.83 $43542.23
Current liabilities
Accounts payable $461.72 $412.76 $358.81 $347.34
Deferred revenue
Short long term debt $60.17 $114.71 $95.42 $150.87
Total current liabilities $3126.07 $2962.07 $2749.4 $2844.43
Long term debt $31471.27 $31634.75 $31810.76 $31986.8
Total noncurrent liabilities $34908.33 $35181.61 $35321.06 $35475.7
Total debt $31531.45 $31749.46 $31906.19 $32137.68
Total liabilities $38034.4 $38143.68 $38070.46 $38320.13
Shareholders' equity
Retained earnings $3664.01 $3962.93 $4382.59 $4799.18
Other shareholder equity $143.9 -$0.62 $30.06 $36.81
Total shareholder equity $3811.17 $3965.72 $4416.17 $4839.66
(in millions $) 31 Dec 2023 31 Jan 2023 31 Dec 2021 31 Dec 2020
Current assets
Cash $2927.83 $5911.89 $5203.06 $5101.64
Short term investments
Net receivables $929.13 $925.16 $583.91 $316.5
Inventory $141.68 $126.06 $96.37 $88.32
Total current assets $4910.59 $8154.69 $6416.18 $5950.66
Long term investments $240.8 $173.04 $967.04 $1447.04
Property, plant & equipment $29477.01 $29754.86 $25928.3 $22918.78
Goodwill & intangible assets $6890.28 $6580.56 $7097.38 $5735.03
Total noncurrent assets $37457.96 $37537.51 $34482.93 $30544.28
Total investments $240.8 $173.04 $967.04 $1447.04
Total assets $42368.55 $45692.21 $40899.12 $36494.93
Current liabilities
Accounts payable $461.72 $369.82 $286.2 $172.67
Deferred revenue
Short long term debt $60.17 $1369.92 $1172.62 $138.83
Total current liabilities $3126.07 $4515.89 $3442.26 $1856.58
Long term debt $31471.27 $7432.82 $23573.26 $20766.8
Total noncurrent liabilities $34908.33 $35966.19 $26480.09 $23458.44
Total debt $31531.45 $33952.04 $24745.88 $20905.63
Total liabilities $38034.4 $40860.68 $29922.35 $25315.03
Shareholders' equity
Retained earnings $3664.01 $4794.24 $4340.59 $3091.01
Other shareholder equity $143.9 $33.5 -$24.62 -$30.68
Total shareholder equity $3811.17 $4831.53 $6070.65 $6504.73
(in millions $) 31 Dec 2023 30 Sep 2023 30 Jun 2023 31 Mar 2023
Revenue
Total revenue $4375.56 $3973.18 $3942.21 $3873.3
Cost of revenue $2375.38 $2097.5 $2083.9 $1996.8
Gross Profit $2000.19 $1875.69 $1858.31 $1876.5
Operating activities
Research & development
Selling, general & administrative $1374.34 $1314.14 $1261.48 $1263.1
Total operating expenses $1587.42 $1528.26 $1470.74 $1070.66
Operating income $412.77 $347.43 $387.57 $805.84
Income from continuing operations
EBIT $360.82 $284.73 $351.88 $762.89
Income tax expense -$59.52 $12.44 $39.14 $165.78
Interest expense $106.88 $111.17 $111.94 $130.3
Net income
Net income $313.46 $161.12 $200.8 $466.81
Income (for common shares) $313.46 $161.12 $200.8 $466.81
(in millions $) 31 Dec 2023 31 Dec 2022 31 Jan 2022 31 Dec 2020
Revenue
Total revenue $16164.25 $13127.49 $5162.08
Cost of revenue $8553.56 $6652.98 $3452.71
Gross Profit $7610.69 $6474.5 $1709.37
Operating activities
Research & development
Selling, general & administrative $5213.06 $4705.73 $2582.48
Total operating expenses $5657.09 $4874.92 $2394.74
Operating income $1953.6 $1599.59 -$685.37
Income from continuing operations
EBIT $1760.31 $2765.11 -$547.92
Income tax expense $157.84 $697.07 -$191.57
Interest expense $460.29 $594.95 $676.38
Net income
Net income $1142.18 $1473.09 -$1032.72
Income (for common shares) $1142.18 $1473.09 -$1032.72
(in millions $) 31 Dec 2023 30 Sep 2023 30 Jun 2023 31 Mar 2023
Net income $313.46 $161.12 $200.8 $466.81
Operating activities
Depreciation $332.85 $329.32 $332.36 $335.72
Business acquisitions & disposals -$16.59 -$192.72 -$38.06 -$35.73
Stock-based compensation $27.36 $11.13 $11.23 $23.89
Total cash flows from operations $715.94 $694.08 $576.71 $704.05
Investing activities
Capital expenditures -$329.46 -$209.25 -$245.47 $318.19
Investments $50.88 $39.66 $6.86 -$223.35
Total cash flows from investing -$293.62 -$361.54 -$271.19 $212.18
Financing activities
Dividends paid
Sale and purchase of stock -$623.03 -$565.67 -$618.82 -$484.4
Net borrowings -$167.2 -$228.8 -$171.99 -$1836.46
Total cash flows from financing -$827.53 -$847.56 -$949.4 -$2380.13
Effect of exchange rate $16.91 -$11.92 -$17.91 -$6.48
Change in cash and equivalents -$388.3 -$526.94 -$661.8 -$1444.44
(in millions $) 31 Dec 2023 31 Dec 2022 31 Dec 2021 31 Dec 2020
Net income $1142.18 $1473.09 $1254.37 -$1032.72
Operating activities
Depreciation $1330.25 $3919.65 $1339.53 $1393.95
Business acquisitions & disposals -$283.1 $2229.92 $1871.94 $2358.91
Stock-based compensation $73.61 $71.3 $65.18 $106.96
Total cash flows from operations $2690.78 $1756.46 $1373.42 -$1493.04
Investing activities
Capital expenditures -$465.99 $401.26 -$384.1 -$264.44
Investments $26.57 -$523.36
Total cash flows from investing -$714.17 $2118.18 $1543.64 $2159.3
Financing activities
Dividends paid -$4.05 -$4.79 -$77.61
Sale and purchase of stock -$2291.92 -$2775.22 -$1753.51 -$353.72
Net borrowings -$2404.44 $76.57 -$1365.17 $2350.37
Total cash flows from financing -$5004.63 -$3024.3 -$2814.09 $2103.43
Effect of exchange rate -$19.4 $8.93 -$1.55 $2.35
Change in cash and equivalents -$3021.49 $833.33 $101.42 $2772.03
Fundamentals
Market cap $15.42B
Enterprise value $44.02B
Shares outstanding 326.55M
Revenue $16.16B
EBITDA $3.09B
EBIT $1.76B
Net Income $1.14B
Revenue Q/Q 21.81%
Revenue Y/Y 23.13%
P/E ratio 13.50
EV/Sales 2.72
EV/EBITDA 14.24
EV/EBIT 25.01
P/S ratio 0.95
P/B ratio 4.20
Book/Share 11.23
Cash/Share 8.97
EPS $3.50
ROA 2.67%
ROE 26.82%
Debt/Equity 9.98
Net debt/EBITDA 11.36
Current ratio 1.57
Quick ratio 1.53