Wynn Resorts (WYNN)
Market Price (11/18/2025): $119.8 | Market Cap: $12.3 BilSector: Consumer Discretionary | Industry: Casinos & Gaming
Wynn Resorts (WYNN)
Market Price (11/18/2025): $119.8Market Cap: $12.3 BilSector: Consumer DiscretionaryIndustry: Casinos & Gaming
Investment Highlights
Why It Matters
Which of these 2 stories sounds closer for this stock?
1. Generates cash flow
The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.
2. Riding a trend
Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.6%, FCF Yield is 6.1% | Weak multi-year price returns2Y Excs Rtn is -8.2% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 84% |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 20% | ||
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 19%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 10% | ||
| Low stock price volatilityVol 12M is 42% | ||
| Megatrend and thematic driversMegatrends include Experience Economy & Premiumization, and Markets & Betting. Themes include Travel & Leisure Tech, Experiential Retail, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.6%, FCF Yield is 6.1% |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 20% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 19%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 10% |
| Low stock price volatilityVol 12M is 42% |
| Megatrend and thematic driversMegatrends include Experience Economy & Premiumization, and Markets & Betting. Themes include Travel & Leisure Tech, Experiential Retail, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -8.2% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 84% |
Market Valuation & Key Metrics
WYNN Stock
Why The Stock Moved
Qualitative Assessment
AI Generated Analysis | Feedback
Here are the key points explaining the 8.8% stock movement for Wynn Resorts (WYNN) from approximately July 31, 2025, to November 18, 2025:
1. Strong Third Quarter 2025 Financial Performance: Wynn Resorts reported robust financial results for the third quarter of 2025, with operating revenues increasing to $1.83 billion, an increase of $140.4 million compared to the third quarter of 2024, and surpassing analyst estimates. The company also achieved a net income of $88.3 million, a significant turnaround from a net loss of $32.1 million in the same period last year.
2. Continued Recovery and Growth in Macau Operations: Wynn's Macau operations demonstrated strong performance, with Wynn Palace revenues rising by $115.7 million to $635.5 million in the third quarter of 2025. Overall Macau operations generated $1 billion in the third quarter with an Adjusted Property EBITDAR of $308.3 million. Macau's gross gaming revenue (GGR) also saw substantial year-on-year increases in July, reaching MOP$22.13 billion, a 19.0% rise, setting new post-pandemic records driven by premium gaming segments and non-gaming entertainment.
Stock Movement Drivers
Return vs. Risk
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| WYNN Return | -18% | -25% | -3% | 11% | -4% | 38% | -12% |
| Peers Return | 111% | -15% | -31% | 49% | 17% | -10% | 95% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 13% | 107% |
Monthly Win Rates [3] | |||||||
| WYNN Win Rate | 42% | 50% | 50% | 58% | 42% | 70% | |
| Peers Win Rate | 43% | 44% | 38% | 52% | 48% | 54% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 70% | |
Max Drawdowns [4] | |||||||
| WYNN Max Drawdown | -69% | -33% | -39% | 0% | -19% | -23% | |
| Peers Max Drawdown | -41% | -29% | -47% | -11% | -21% | -27% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: LVS, DKNG, MGM, PENN, CDRO. See WYNN 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] 2025 data is for the year up to 11/17/2025 (YTD)
How Low Can It Go
| Event | WYNN | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -62.8% | -25.4% |
| % Gain to Breakeven | 169.1% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -71.7% | -33.9% |
| % Gain to Breakeven | 253.8% | 51.3% |
| Time to Breakeven | Not Fully Recovered days | 148 days |
| 2018 Correction | ||
| % Loss | -54.3% | -19.8% |
| % Gain to Breakeven | 119.0% | 24.7% |
| Time to Breakeven | Not Fully Recovered days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -91.1% | -56.8% |
| % Gain to Breakeven | 1022.7% | 131.3% |
| Time to Breakeven | 1690 days | 1480 days |
Compare to LVS, DKNG, MGM, PENN, CDRO
In The Past
Wynn Resorts's stock fell -62.8% during the 2022 Inflation Shock from a high on 3/17/2021. A -62.8% loss requires a 169.1% gain to breakeven.
Preserve Wealth
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Asset Allocation
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Latest Trefis Analyses
Trade Ideas
Select past ideas related to WYNN. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 10312025 | LRN | Stride | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | -7.8% | -7.8% | -7.8% |
| 10312025 | DECK | Deckers Outdoor | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | -1.0% | -1.0% | -2.4% |
| 10312025 | ATGE | Adtalem Global Education | Quality | Q | Momentum | UpsideQuality Stocks with Momentum and UpsideBuying quality stocks with strong momentum but still having room to run | -4.3% | -4.3% | -5.9% |
| 10242025 | GNTX | Gentex | 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 | -5.3% | -5.3% | -5.3% |
| 10172025 | LNW | Light & Wonder | 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 | 12.4% | 12.4% | -6.2% |
| 05312019 | WYNN | Wynn Resorts | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 14.6% | -20.3% | -58.8% |
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 10312025 | LRN | Stride | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | -7.8% | -7.8% | -7.8% |
| 10312025 | DECK | Deckers Outdoor | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | -1.0% | -1.0% | -2.4% |
| 10312025 | ATGE | Adtalem Global Education | Quality | Q | Momentum | UpsideQuality Stocks with Momentum and UpsideBuying quality stocks with strong momentum but still having room to run | -4.3% | -4.3% | -5.9% |
| 10242025 | GNTX | Gentex | 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 | -5.3% | -5.3% | -5.3% |
| 10172025 | LNW | Light & Wonder | 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 | 12.4% | 12.4% | -6.2% |
| 05312019 | WYNN | Wynn Resorts | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 14.6% | -20.3% | -58.8% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons for Wynn Resorts
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 30.11 |
| Mkt Cap | 12.2 |
| Rev LTM | 7,111 |
| Op Inc LTM | 1,371 |
| FCF LTM | 737 |
| FCF 3Y Avg | 746 |
| CFO LTM | 1,354 |
| CFO 3Y Avg | 1,210 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 8.2% |
| Rev Chg 3Y Avg | 25.0% |
| Rev Chg Q | 4.8% |
| QoQ Delta Rev Chg LTM | 1.2% |
| Op Mgn LTM | 7.9% |
| Op Mgn 3Y Avg | 6.3% |
| QoQ Delta Op Mgn LTM | 0.5% |
| CFO/Rev LTM | 14.7% |
| CFO/Rev 3Y Avg | 14.8% |
| FCF/Rev LTM | 9.7% |
| FCF/Rev 3Y Avg | 8.4% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 12.2 |
| P/S | 1.7 |
| P/EBIT | 9.5 |
| P/E | 24.1 |
| P/CFO | 9.0 |
| Total Yield | 0.8% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 3.8% |
| D/E | 1.0 |
| Net D/E | 0.8 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -8.0% |
| 3M Rtn | -20.1% |
| 6M Rtn | -9.2% |
| 12M Rtn | -21.7% |
| 3Y Rtn | 57.9% |
| 1M Excs Rtn | -8.2% |
| 3M Excs Rtn | -24.5% |
| 6M Excs Rtn | -21.1% |
| 12M Excs Rtn | -35.7% |
| 3Y Excs Rtn | -1.5% |
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/6/2025 | 2.9% | 0.4% | |
| 8/7/2025 | -0.8% | 4.1% | 14.7% |
| 5/6/2025 | 0.7% | 15.9% | -0.1% |
| 2/13/2025 | 10.4% | 12.8% | 7.7% |
| 11/4/2024 | -9.3% | -9.6% | -0.6% |
| 8/6/2024 | -1.9% | -2.7% | 1.4% |
| 5/7/2024 | -1.5% | 0.8% | -4.6% |
| 2/7/2024 | 6.3% | 5.4% | 0.8% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 10 | 15 | 13 |
| # Negative | 14 | 9 | 11 |
| Median Positive | 5.1% | 5.4% | 12.0% |
| Median Negative | -2.0% | -5.1% | -6.5% |
| Max Positive | 10.4% | 21.4% | 38.9% |
| Max Negative | -9.3% | -9.6% | -38.4% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 9302025 | 11062025 | 10-Q 9/30/2025 |
| 6302025 | 8072025 | 10-Q 6/30/2025 |
| 3312025 | 5062025 | 10-Q 3/31/2025 |
| 12312024 | 2132025 | 10-K 12/31/2024 |
| 9302024 | 11042024 | 10-Q 9/30/2024 |
| 6302024 | 8062024 | 10-Q 6/30/2024 |
| 3312024 | 5072024 | 10-Q 3/31/2024 |
| 12312023 | 2232024 | 10-K 12/31/2023 |
| 9302023 | 11092023 | 10-Q 9/30/2023 |
| 6302023 | 8092023 | 10-Q 6/30/2023 |
| 3312023 | 5092023 | 10-Q 3/31/2023 |
| 12312022 | 2272023 | 10-K 12/31/2022 |
| 9302022 | 11092022 | 10-Q 9/30/2022 |
| 6302022 | 8092022 | 10-Q 6/30/2022 |
| 3312022 | 5102022 | 10-Q 3/31/2022 |
| 12312021 | 2282022 | 10-K 12/31/2021 |
External Quote Links
| Y Finance | Barrons |
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| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |