MGM Resorts International (MGM)
Market Price (4/10/2026): $37.0 | Market Cap: $9.9 BilSector: Consumer Discretionary | Industry: Casinos & Gaming
MGM Resorts International (MGM)
Market Price (4/10/2026): $37.0Market Cap: $9.9 BilSector: Consumer DiscretionaryIndustry: Casinos & Gaming
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 14%, CFO LTM is 2.5 Bil Attractive yieldFCF Yield is 15% Stock buyback supportStock Buyback 3Y Total is 4.9 Bil Low stock price volatilityVol 12M is 40% Megatrend and thematic driversMegatrends include Experience Economy & Premiumization, Digital Content & Streaming, and Markets & Betting. Themes include Travel & Leisure Tech, Show more. | Weak multi-year price returns2Y Excs Rtn is -52%, 3Y Excs Rtn is -82% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 297% Expensive valuation multiplesP/EPrice/Earnings or Price/(Net Income) is 48x Key risksMGM key risks include [1] the significant operational and financial fallout from its recent major cyberattack and [2] a high debt burden with substantial peak payments due in 2026. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 14%, CFO LTM is 2.5 Bil |
| Attractive yieldFCF Yield is 15% |
| Stock buyback supportStock Buyback 3Y Total is 4.9 Bil |
| Low stock price volatilityVol 12M is 40% |
| Megatrend and thematic driversMegatrends include Experience Economy & Premiumization, Digital Content & Streaming, and Markets & Betting. Themes include Travel & Leisure Tech, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -52%, 3Y Excs Rtn is -82% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 297% |
| Expensive valuation multiplesP/EPrice/Earnings or Price/(Net Income) is 48x |
| Key risksMGM key risks include [1] the significant operational and financial fallout from its recent major cyberattack and [2] a high debt burden with substantial peak payments due in 2026. |
Qualitative Assessment
AI Analysis | Feedback
1. Strong Q4 2025 Earnings Offset by Las Vegas Strip Weakness.
MGM Resorts International reported robust fourth-quarter 2025 earnings, with an Earnings Per Share (EPS) of $1.60, significantly surpassing the consensus estimate of $0.64. Quarterly revenue also exceeded expectations, reaching $4.61 billion against an anticipated $4.42 billion, and Consolidated Adjusted EBITDA grew by 20% year-over-year. However, this positive performance was partially counteracted by a 2% EBITDAR miss due to weakness on the Las Vegas Strip, which experienced a 7% year-over-year decline in net revenues, primarily driven by decreased average daily rates and occupancy, particularly for midweek operations at lower-tier properties.
2. Persistent Macroeconomic Headwinds Impacting Gaming Demand.
The broader gaming industry, including MGM, faced ongoing pressures from macroeconomic factors such as strained consumer discretionary spending due to inflation and rising costs, which limited casino visitation and online betting activity. In Macau, while overall visitation surpassed 2019 levels, spending per visitor continued to lag historical norms, especially in the base mass business segment, which has not fully recovered to pre-pandemic levels.
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Stock Movement Drivers
Fundamental Drivers
The 1.2% change in MGM stock from 12/31/2025 to 4/9/2026 was primarily driven by a 191.1% change in the company's Net Income Margin (%).| (LTM values as of) | 12312025 | 4092026 | Change |
|---|---|---|---|
| Stock Price ($) | 36.49 | 36.93 | 1.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 17,279 | 17,538 | 1.5% |
| Net Income Margin (%) | 0.4% | 1.2% | 191.1% |
| P/E Multiple | 142.7 | 48.0 | -66.4% |
| Shares Outstanding (Mil) | 273 | 267 | 1.9% |
| Cumulative Contribution | 1.2% |
Market Drivers
12/31/2025 to 4/9/2026| Return | Correlation | |
|---|---|---|
| MGM | 1.2% | |
| Market (SPY) | -5.4% | 39.7% |
| Sector (XLY) | -5.6% | 41.1% |
Fundamental Drivers
The 6.5% change in MGM stock from 9/30/2025 to 4/9/2026 was primarily driven by a 173.1% change in the company's P/E Multiple.| (LTM values as of) | 9302025 | 4092026 | Change |
|---|---|---|---|
| Stock Price ($) | 34.66 | 36.93 | 6.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 17,212 | 17,538 | 1.9% |
| Net Income Margin (%) | 3.1% | 1.2% | -62.6% |
| P/E Multiple | 17.6 | 48.0 | 173.1% |
| Shares Outstanding (Mil) | 273 | 267 | 2.2% |
| Cumulative Contribution | 6.5% |
Market Drivers
9/30/2025 to 4/9/2026| Return | Correlation | |
|---|---|---|
| MGM | 6.5% | |
| Market (SPY) | -2.9% | 41.9% |
| Sector (XLY) | -5.7% | 50.0% |
Fundamental Drivers
The 24.6% change in MGM stock from 3/31/2025 to 4/9/2026 was primarily driven by a 306.0% change in the company's P/E Multiple.| (LTM values as of) | 3312025 | 4092026 | Change |
|---|---|---|---|
| Stock Price ($) | 29.64 | 36.93 | 24.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 17,241 | 17,538 | 1.7% |
| Net Income Margin (%) | 4.3% | 1.2% | -72.9% |
| P/E Multiple | 11.8 | 48.0 | 306.0% |
| Shares Outstanding (Mil) | 298 | 267 | 11.3% |
| Cumulative Contribution | 24.6% |
Market Drivers
3/31/2025 to 4/9/2026| Return | Correlation | |
|---|---|---|
| MGM | 24.6% | |
| Market (SPY) | 16.3% | 61.0% |
| Sector (XLY) | 14.9% | 65.2% |
Fundamental Drivers
The -16.9% change in MGM stock from 3/31/2023 to 4/9/2026 was primarily driven by a -89.5% change in the company's Net Income Margin (%).| (LTM values as of) | 3312023 | 4092026 | Change |
|---|---|---|---|
| Stock Price ($) | 44.42 | 36.93 | -16.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 13,127 | 17,538 | 33.6% |
| Net Income Margin (%) | 11.2% | 1.2% | -89.5% |
| P/E Multiple | 11.6 | 48.0 | 314.5% |
| Shares Outstanding (Mil) | 384 | 267 | 43.5% |
| Cumulative Contribution | -16.9% |
Market Drivers
3/31/2023 to 4/9/2026| Return | Correlation | |
|---|---|---|
| MGM | -16.9% | |
| Market (SPY) | 63.3% | 56.6% |
| Sector (XLY) | 54.2% | 55.6% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| MGM Return | 42% | -25% | 33% | -22% | 5% | 2% | 18% |
| Peers Return | -23% | -26% | 45% | -9% | 2% | -8% | -31% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -1% | 81% |
Monthly Win Rates [3] | |||||||
| MGM Win Rate | 67% | 33% | 67% | 42% | 67% | 75% | |
| Peers Win Rate | 42% | 40% | 52% | 43% | 58% | 50% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| MGM Max Drawdown | -10% | -39% | -1% | -25% | -26% | -10% | |
| Peers Max Drawdown | -35% | -47% | -11% | -26% | -33% | -24% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -7% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: LVS, CZR, WYNN, DKNG, PENN. See MGM Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 4/9/2026 (YTD)
How Low Can It Go
| Event | MGM | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -46.1% | -25.4% |
| % Gain to Breakeven | 85.4% | 34.1% |
| Time to Breakeven | 400 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -79.3% | -33.9% |
| % Gain to Breakeven | 383.8% | 51.3% |
| Time to Breakeven | 327 days | 148 days |
| 2018 Correction | ||
| % Loss | -42.6% | -19.8% |
| % Gain to Breakeven | 74.1% | 24.7% |
| Time to Breakeven | 792 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -98.1% | -56.8% |
| % Gain to Breakeven | 5177.8% | 131.3% |
| Time to Breakeven | Not Fully Recovered days | 1,480 days |
Compare to LVS, CZR, WYNN, DKNG, PENN
In The Past
MGM Resorts International's stock fell -46.1% during the 2022 Inflation Shock from a high on 11/5/2021. A -46.1% loss requires a 85.4% gain to breakeven.
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About MGM Resorts International (MGM)
AI Analysis | Feedback
Here are 1-3 brief analogies to describe MGM Resorts International:
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A Hilton or Marriott, but with a huge casino and entertainment complex built into its luxury resorts.
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A Disney World for adults, substituting theme park rides for high-stakes gambling and world-class entertainment.
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It's like a combination of a luxury hotel brand and a major online sports betting company like DraftKings.
AI Analysis | Feedback
- Casino Gaming: MGM Resorts provides a full range of gaming options, including traditional slots, table games, and online sports betting and iGaming through BetMGM.
- Hotel Accommodation: The company offers lodging and hospitality services through its portfolio of luxury hotels and resorts.
- Entertainment & Events: MGM Resorts hosts diverse entertainment, including live shows, concerts, and other events across its properties.
- Dining & Nightlife: Guests can access numerous dining establishments, bars, and nightlife venues within MGM's resorts.
- Convention & Meeting Services: The company offers extensive facilities and services for conventions, trade shows, and business meetings.
- Retail & Resort Amenities: MGM Resorts provides various retail shopping experiences and additional resort amenities such as golf courses.
AI Analysis | Feedback
MGM Resorts International sells primarily to individuals and groups. Its major customer categories are:
- Premium gaming customers
- Leisure and wholesale travel customers
- Business travelers and group customers (including conventions, trade associations, and small meetings)
AI Analysis | Feedback
- Light & Wonder, Inc. (LNW)
- International Game Technology PLC (IGT)
- Aristocrat Leisure Limited (ALL.AX)
- Everi Holdings Inc. (EVRI)
- Entain Plc (ENT.L)
AI Analysis | Feedback
William J. Hornbuckle, Chief Executive Officer and President
- Appointed CEO and President of MGM Resorts International in July 2020, having served as Acting CEO since March 2020.
- Possesses over 40 years of experience in the gaming and hospitality industry.
- Oversees all aspects of MGM Resorts' strategy, operations, and hospitality and gaming development projects, and led the company through the COVID-19 pandemic.
- Led the strategy and execution of the company's sale of MGM Growth Properties to Vici Properties and the acquisition of the remaining share of CityCenter and of The Cosmopolitan of Las Vegas.
Jonathan Halkyard, Chief Financial Officer
- Appointed Chief Financial Officer of MGM Resorts International in January 2021.
- Previously served as Chief Executive Officer of Extended Stay America from 2018 to 2019.
- Prior to his CEO role at Extended Stay America, he was its Chief Financial Officer for nearly three years and Chief Operating Officer for two years.
- Served as Executive Vice President and Chief Financial Officer of NV Energy from 2012 to September 2013, during which time he led the sale of the company to MidAmerican Energy Holdings, a Berkshire Hathaway company.
- Held various leadership positions at Caesars Entertainment for 13 years, including Chief Financial Officer from 2006 to 2012.
Ayesha Molino, Chief Operating Officer
- Appointed Chief Operating Officer of MGM Resorts in January 2026.
- Oversees the company's Las Vegas and regional properties, as well as multiple corporate departments including Sales, Revenue Management, Human Resources, Government Affairs, Public Relations, and Community Affairs.
- Previously served simultaneously as Chief Public Affairs Officer and President and COO of ARIA and Vdara.
John M. McManus, Chief Legal and Administrative Officer and Secretary
- Responsible for the oversight of the company's legal affairs, as well as the Technology, Corporate Communications, Corporate Security, Risk Management, and Compliance departments.
- Joined MGM in 2001 and has served as counsel in various capacities at the parent company and its operating subsidiaries.
Gary Fritz, Chief Commercial Officer and President of MGM Digital
- Accountable for evaluating and leading all strategic digital gaming initiatives globally, capitalizing on the intersection of the digital and gaming spheres.
- Serves as a strategic advisor to MGM Resorts' President and Chief Executive Officer and is a member of the Executive Committee.
- He is also a member of the Board of Directors for BetMGM and LeoVegas.
- Has a history of leading multinational companies on global strategy and expansion plans, including Rakuten, TripAdvisor, Expedia, and McKinsey & Company.
- From 2016-2020, Mr. Fritz was the Head of Gaming for IAC.
AI Analysis | Feedback
```htmlThe key risks to MGM Resorts International (MGM) are:
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Cybersecurity Incidents: MGM Resorts International faces significant risks from cybersecurity incidents. A major cyberattack in September 2023 disrupted operations, affecting crucial systems like slot machines, ATMs, digital room keys, and payment systems, leading to approximately $100 million in revenue losses in the third quarter of 2023. This incident also exposed sensitive guest data, resulted in regulatory scrutiny, erosion of customer trust, and led to ongoing class-action lawsuits. The company had also experienced a data breach in 2019, indicating a persistent vulnerability to such threats.
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Substantial Financial Commitments and High Indebtedness: The company operates with significant financial commitments, including substantial indebtedness and rent payments. MGM Resorts International's balance sheet carries a high debt load, with a debt-to-equity ratio reported at an alarming 11.64. These commitments could adversely affect operations and financial results, particularly if economic conditions or credit market fluctuations impact the company's ability to service debt and make planned expenditures. A prolonged downturn in travel or gaming demand could make these substantial interest and lease payments a serious drag on profitability.
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Macau Regulatory and Geopolitical Risks: MGM Resorts International's significant operations in Macau expose it to specific regulatory and geopolitical risks. These include the potential for termination or non-renewal of gaming concessions by the Macau government, which could severely impact revenue. Changes in U.S.-China relations or other geopolitical events could also adversely affect the company's operations in Macau, a region critical for its international growth strategy, as evidenced by MGM China's increased net revenues.
AI Analysis | Feedback
The emergence of highly immersive virtual reality (VR) and metaverse platforms offering alternative, compelling social gaming, entertainment, and hospitality experiences. As these technologies mature and gain wider adoption, they could reduce the incentive for consumers to travel to physical casino resorts for aspects such as gaming, live entertainment, and social interaction, potentially diverting customer spending and reducing demand for MGM's core physical offerings.
AI Analysis | Feedback
The addressable markets for MGM Resorts International's main products and services are sizable across its operating regions. Here's an overview of the market sizes for their primary offerings:Casino/Gaming
- Global Casino Gaming Market: The global casino gaming market was projected to reach $245.40 billion in 2025 and is expected to grow to $280.70 billion by 2029. Another estimate indicates the global casino market size was valued at USD 308.52 billion in 2024 and is projected to grow to USD 542.41 billion by 2033. Land-based casinos represented the largest segment in the global casino market in 2024, holding a 70.1% market share.
- U.S. Casino Gaming Market: The U.S. casino gaming market size is estimated to grow by USD 9.5 billion, accelerating at a CAGR of 3.22% between 2023 and 2028. North America dominated the casino market worldwide, accounting for 45.9% of the global market share in 2024. The U.S. casino market is anticipated to reach a value of USD 199.4 billion by 2035. Land-based casino gaming in the U.S. was valued at USD 63.5 billion in 2024.
- Macau Gaming Market: Macau's gross gaming revenue (GGR) reached $30.9 billion in 2025, the highest annual total since before the COVID-19 pandemic. It is projected to rise to $32.3 billion in 2026.
- Global Online Gambling Market (including sports betting and iGaming): The global online gambling market size was valued at USD 95.5 billion in 2024 and is estimated to grow to USD 257 billion by 2034. Another estimate states the global online gambling market size was USD 99.7 billion in 2025 and is projected to reach USD 179.7 billion by 2034. The sports betting segment generated over USD 36.9 billion in 2024.
- U.S. Online Gambling Market (including sports betting and iGaming): The U.S. online gambling market size was estimated at USD 12.68 billion in 2024 and is expected to grow at a CAGR of 9.8% from 2025 to 2030. The U.S. online gambling market was valued at USD 5.95 billion in 2025 and is estimated to grow to USD 14.79 billion by 2031. Sports betting led with a 49.21% share of the U.S. online gambling market in 2025. The U.S. iGaming market is projected to reach a gross revenue of $26.8 billion in 2025. Online casino gaming in the U.S. is projected to be valued at USD 37.05 billion in 2024, and grow to USD 72.9 billion by 2035.
Hotel and Hospitality
- Global Hotel Market: The global hotel market was valued at USD 1071 billion based on a five-year historical analysis. Another source indicates the global hotels market size was valued at USD 2,080.57 billion in 2025 and is projected to grow to USD 3,931.42 billion by 2034. It was also valued at US$ 1,575.6 billion in 2025 and is projected to reach US$ 2,694.9 billion by 2036.
- U.S. Hotel Market: The U.S. hotels market size was estimated at USD 263.21 billion in 2024 and is projected to grow at a CAGR of 7.1% from 2025 to 2030, reaching USD 395.69 billion by 2030. The USA Hotel Market was valued at USD 260 billion based on a five-year historical analysis.
- Global Hospitality Market: The global hospitality market size was $5.52 trillion in 2025 and is expected to grow to $7.47 trillion in 2030.
- U.S. Hospitality Market: The U.S. hospitality market stands at USD 247.81 billion in 2026 and is projected to reach USD 305.53 billion by 2031. The U.S. hospitality market size is estimated at USD 247.45 billion in 2025 and is expected to reach USD 313.87 billion by 2030.
AI Analysis | Feedback
MGM Resorts International (MGM) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market trends:
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Growth of BetMGM and MGM Digital: The company anticipates significant growth from its online sports betting and iGaming venture, BetMGM, and its broader MGM Digital segment. BetMGM North America achieved a 39% increase in net revenue from operations in the fourth quarter of 2025 and saw its EBITDA improve by $176 million to $71 million in the quarter. The venture provided adjusted EBITDA guidance of $300 million to $350 million for 2026 and aims to reach $500 million in adjusted EBITDA by 2027. MGM Digital also demonstrated impressive 35% growth in net revenues. Furthermore, MGM expects 2-4 additional states to legalize iGaming in the coming years, which is projected to further boost digital gaming revenues.
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Recovery and Enhanced Performance of Las Vegas Strip Resorts: After experiencing some headwinds in 2025, MGM projects a path to growth in its Las Vegas Strip Resorts for 2026. This growth is anticipated to be fueled by robust group and convention business, with bookings pacing ahead of the prior year, supported by a strong calendar of major events including Formula 1 and the Super Bowl. The completion of renovations at properties like MGM Grand is expected to bring full room inventory back online in 2026, contributing to increased capacity and revenue. The company is also focusing on investments in luxury offerings and AI-driven guest engagement to attract high-end clientele and enhance customer experience.
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Sustained Strong Performance and Market Share in MGM China: MGM China continues to be a significant revenue driver, with net revenues growing 21% and segment-adjusted EBITDAR increasing by 31% in the fourth quarter of 2025, setting a new record for the quarter. MGM China maintained a market share of over 16% for the full year 2025, a record annual level, demonstrating its strong position in the premium mass customer segment. The company is targeting a 15% market share in Macau, indicating continued focus on this profitable segment.
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Consistent Performance in Regional Operations: MGM's regional operations have consistently delivered strong results, closing out 2025 with a record-breaking year, including the best-ever annual slot win performance. The regional segment saw a 2% rise in net revenues in the fourth quarter of 2025 and stable EBITDAR, indicating a reliable and ongoing contribution to the company's overall revenue base. The company anticipates continued solid performance from its regional properties.
AI Analysis | Feedback
Capital Allocation Decisions (Last 3-5 Years) for MGM Resorts International (MGM)
Share Repurchases
- MGM Resorts International aggressively repurchased shares, investing approximately $8.9 billion from 2021 to April 30, 2025, which reduced shares outstanding by about 45%.
- In 2024, the company repurchased over 33 million shares for $1.4 billion.
- A new $2 billion share repurchase program was authorized on April 30, 2025, with $1.6 billion remaining as of December 31, 2025.
Outbound Investments
- MGM is committed to its integrated resort project in Japan, updating its equity commitment to JPY428 billion, with JPY392 billion remaining to be funded for a 43.5% ownership stake. Preliminary construction for the Osaka integrated resort began in 2024 and continued in 2025.
- The company acquired a majority ownership of Push Gaming, a digital gaming developer, in August 2023, as part of its strategy to enhance its digital gaming portfolio.
- MGM completed the sale of operations of The Mirage and Gold Strike Tunica, generating significant cash inflows. In 2025, it announced the sale of Northfield Park operations.
Capital Expenditures
- In 2024, MGM made $1.2 billion in capital expenditures, focusing on broad improvements at properties like the Bellagio, renovating suites, adding new food and beverage offerings, and refreshing premium gaming spaces.
- For 2025, domestic capital expenditures were approximately $750 million to $800 million, including around $600 million for maintenance and the remainder for growth initiatives.
- Capital expenditures are primarily focused on maintaining and enhancing existing assets to uphold brand standards and competitive position, as well as growth capital to boost revenues from existing assets or create new revenue streams.
Latest Trefis Analyses
Trade Ideas
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| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 03312026 | SKY | Champion Homes | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 0.0% | 0.0% | 0.0% |
| 03272026 | DPZ | Domino's Pizza | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 3.1% | 3.1% | 0.0% |
| 03272026 | ETSY | Etsy | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 5.6% | 5.6% | 0.0% |
| 03272026 | OLLI | Ollie's Bargain Outlet | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 3.1% | 3.1% | 0.0% |
| 03272026 | PATK | Patrick Industries | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | 3.4% | 3.4% | -1.6% |
| 08312024 | MGM | MGM Resorts International | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | -7.5% | 5.6% | -31.4% |
| 08312022 | MGM | MGM Resorts International | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | 36.0% | 34.8% | -8.9% |
| 02282022 | MGM | MGM Resorts International | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | -23.8% | -2.9% | -38.6% |
| 03312020 | MGM | MGM Resorts International | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 84.1% | 222.1% | -10.3% |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 31.69 |
| Mkt Cap | 10.3 |
| Rev LTM | 9,312 |
| Op Inc LTM | 1,272 |
| FCF LTM | 600 |
| FCF 3Y Avg | 544 |
| CFO LTM | 1,327 |
| CFO 3Y Avg | 1,369 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 4.0% |
| Rev Chg 3Y Avg | 19.1% |
| Rev Chg Q | 7.1% |
| QoQ Delta Rev Chg LTM | 1.8% |
| Op Mgn LTM | 12.3% |
| Op Mgn 3Y Avg | 13.3% |
| QoQ Delta Op Mgn LTM | 0.3% |
| CFO/Rev LTM | 12.9% |
| CFO/Rev 3Y Avg | 13.6% |
| FCF/Rev LTM | 8.4% |
| FCF/Rev 3Y Avg | 6.3% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 10.3 |
| P/S | 1.0 |
| P/EBIT | 11.0 |
| P/E | 27.8 |
| P/CFO | 6.1 |
| Total Yield | 1.1% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 4.3% |
| D/E | 2.2 |
| Net D/E | 2.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 1.9% |
| 3M Rtn | -3.0% |
| 6M Rtn | -0.6% |
| 12M Rtn | 9.8% |
| 3Y Rtn | -8.0% |
| 1M Excs Rtn | 1.2% |
| 3M Excs Rtn | 0.7% |
| 6M Excs Rtn | -4.9% |
| 12M Excs Rtn | -8.9% |
| 3Y Excs Rtn | -76.0% |
Comparison Analyses
Price Behavior
| Market Price | $36.93 | |
| Market Cap ($ Bil) | 9.9 | |
| First Trading Date | 01/12/1990 | |
| Distance from 52W High | -7.1% | |
| 50 Days | 200 Days | |
| DMA Price | $36.12 | $35.41 |
| DMA Trend | up | up |
| Distance from DMA | 2.3% | 4.3% |
| 3M | 1YR | |
| Volatility | 45.6% | 37.4% |
| Downside Capture | 0.51 | 0.67 |
| Upside Capture | 174.06 | 118.45 |
| Correlation (SPY) | 39.6% | 57.9% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.17 | 1.61 | 1.43 | 1.25 | 1.34 | 1.41 |
| Up Beta | 2.41 | 1.63 | 1.52 | 1.31 | 1.52 | 1.45 |
| Down Beta | 2.30 | 2.43 | 1.93 | 1.63 | 1.25 | 1.42 |
| Up Capture | 116% | 235% | 149% | 117% | 138% | 176% |
| Bmk +ve Days | 7 | 16 | 27 | 65 | 139 | 424 |
| Stock +ve Days | 14 | 25 | 32 | 64 | 124 | 376 |
| Down Capture | 32% | 64% | 97% | 100% | 112% | 109% |
| Bmk -ve Days | 12 | 23 | 33 | 58 | 110 | 323 |
| Stock -ve Days | 8 | 17 | 30 | 61 | 125 | 370 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MGM | |
|---|---|---|---|---|
| MGM | 43.0% | 40.6% | 0.98 | - |
| Sector ETF (XLY) | 25.7% | 22.6% | 0.93 | 62.4% |
| Equity (SPY) | 29.1% | 17.4% | 1.36 | 58.7% |
| Gold (GLD) | 61.3% | 27.8% | 1.72 | -5.0% |
| Commodities (DBC) | 26.9% | 16.7% | 1.41 | 14.5% |
| Real Estate (VNQ) | 17.7% | 15.4% | 0.86 | 45.9% |
| Bitcoin (BTCUSD) | -10.9% | 43.9% | -0.14 | 26.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MGM | |
|---|---|---|---|---|
| MGM | -1.1% | 39.9% | 0.08 | - |
| Sector ETF (XLY) | 6.7% | 23.7% | 0.25 | 60.9% |
| Equity (SPY) | 11.4% | 17.0% | 0.52 | 60.3% |
| Gold (GLD) | 22.2% | 17.8% | 1.02 | 4.8% |
| Commodities (DBC) | 11.5% | 18.8% | 0.50 | 15.6% |
| Real Estate (VNQ) | 3.7% | 18.8% | 0.10 | 46.6% |
| Bitcoin (BTCUSD) | 3.6% | 56.5% | 0.29 | 23.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MGM | |
|---|---|---|---|---|
| MGM | 6.4% | 45.4% | 0.30 | - |
| Sector ETF (XLY) | 12.2% | 22.0% | 0.51 | 62.3% |
| Equity (SPY) | 13.9% | 17.9% | 0.67 | 61.7% |
| Gold (GLD) | 14.1% | 15.9% | 0.74 | 3.2% |
| Commodities (DBC) | 8.5% | 17.6% | 0.40 | 24.7% |
| Real Estate (VNQ) | 5.1% | 20.7% | 0.21 | 51.4% |
| Bitcoin (BTCUSD) | 67.1% | 66.9% | 1.06 | 15.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 2/4/2026 | 8.1% | 9.3% | 8.7% |
| 10/29/2025 | -1.6% | 2.6% | 13.6% |
| 7/30/2025 | -3.8% | -7.4% | 4.5% |
| 4/30/2025 | -1.9% | 0.9% | 0.6% |
| 2/12/2025 | 17.5% | 11.4% | -7.6% |
| 10/30/2024 | -11.0% | -9.6% | -7.4% |
| 7/31/2024 | -13.2% | -15.2% | -12.9% |
| 5/1/2024 | 2.8% | 0.7% | 1.1% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 8 | 12 | 14 |
| # Negative | 16 | 12 | 10 |
| Median Positive | 5.1% | 5.9% | 7.0% |
| Median Negative | -3.3% | -6.9% | -11.8% |
| Max Positive | 17.5% | 31.4% | 39.8% |
| Max Negative | -13.2% | -15.2% | -22.4% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 02/11/2026 | 10-K |
| 09/30/2025 | 10/29/2025 | 10-Q |
| 06/30/2025 | 07/30/2025 | 10-Q |
| 03/31/2025 | 04/30/2025 | 10-Q |
| 12/31/2024 | 02/18/2025 | 10-K |
| 09/30/2024 | 10/30/2024 | 10-Q |
| 06/30/2024 | 07/31/2024 | 10-Q |
| 03/31/2024 | 05/01/2024 | 10-Q |
| 12/31/2023 | 02/23/2024 | 10-K |
| 09/30/2023 | 11/08/2023 | 10-Q |
| 06/30/2023 | 08/02/2023 | 10-Q |
| 03/31/2023 | 05/01/2023 | 10-Q |
| 12/31/2022 | 02/24/2023 | 10-K |
| 09/30/2022 | 11/02/2022 | 10-Q |
| 06/30/2022 | 08/03/2022 | 10-Q |
| 03/31/2022 | 05/02/2022 | 10-Q |
Recent Forward Guidance [BETA]
Latest: Q4 2025 Earnings Reported 2/5/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 BetMGM North America Venture Revenue Growth | 10.0% | ||||||
Prior: Q3 2025 Earnings Reported 10/29/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2025 BetMGM Cash Distribution | 100.00 Mil | ||||||
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Iac, Inc. | Direct | Buy | 12092025 | 36.30 | 1,098,748 | 39,884,552 | 2,389,351,305 | Form | |
| 2 | McManus, John | CHIEF LEGAL ADMIN OFC AND SECY | Direct | Sell | 9152025 | 36.12 | 60,000 | 2,167,170 | 1,138,523 | Form |
| 3 | Meister, Keith A | See Footnotes | Sell | 9112025 | 35.42 | 242,000 | 8,571,640 | 190,753,631 | Form | |
| 4 | Meister, Keith A | See Footnotes | Sell | 6132025 | 32.09 | 60,000 | 1,925,550 | 180,599,843 | Form | |
| 5 | Sanders, Corey Ian | CHIEF OPERATING OFFICER | CIS Trust | Sell | 5142025 | 34.43 | 40,000 | 1,377,048 | 9,692,008 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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