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Stocks / United States / MGM · Hotels & Motels · NYSE

MGM Resorts International (MGM)

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MGM Resorts International (MGM) reported revenue of $4.5 billion for Q2 FY2026, the quarter ended 30 June 2026, up 1.0% on the same quarter a year earlier. Net income was $292 million, up 497.4% on the year, and diluted earnings per share $1.11. The figures are the company's own, from the 10-Q it filed with the SEC on 29 July 2026.

Revenue$4.5 billionup 1.0%
Net income$292 millionup 497.4%
Diluted EPS$1.11
QuarterQ2 FY2026ended 30 June 2026

Ratios

From the filings

ROE16.9%
ROCE11.9%
Operating margin5.7%
Net margin2.4%
FCF margin8.4%
Interest cover2.49
Debt to equity2.41
Cash conversion5.78
Share count, 1 year-7.6%
Sales CAGR, 3 years10.1%
Profit CAGR, 3 years-48.1%
EPS, TTM$1.66

At the close of 21 September 2026

Price$38.73
Market cap$9.7 billion
Stock P/E23.33
Price to book3.88
EV / EBITDA6.31
Dividend yield0.0%
Market cap / sales0.55
52-week high$50.69
52-week low$30.72
Price, 1 year8.2%
Price CAGR, 3 years2.0%
Price CAGR, 5 years-2.1%

Every figure is arithmetic on the filed lines (hover a name for the formula); the priced ones use the latest daily close, CBOE delayed quotes, daily history, by CBOE, for splits. Debt to equity here stands on long-term debt as MGM Resorts International files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.

Price, 17 September 2021 to 21 September 2026

Daily closes from CBOE delayed quotes, daily history, by CBOE, for splits; the last is 21 September 2026. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on MGM

Filings17 in twelve months: 9 current reports (8-K), about 5 results of operations; 3 material agreement; 2 new financial obligation; 1 shareholder vote; 1 officer or director change
Planned insider sales2 Form 144 notices in twelve months, $1.6 million; latest 22 May 2026
Options tapeput/call 0.48 by open interest on 23 September 2026; the straddle prices a 12.3% move to 16 October 2026
Holders11 of the followed funds hold it; largest Geode Capital Management; 6 Schedule 13D or 13G filings in twelve months
Insider trading2 sales and 3 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest18.9 million shares short, 10.08 days to cover at 31 August 2026
Documentsthe 10-K, the 10-Qs, the proxy and 5 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue3,9734,3764,3834,3274,1834,3474,2774,4054,2504,6054,4554,451
SG&A1,1921,2281,1951,2111,1771,2431,1651,2141,2401,2591,2831,263
Operating income370419458426315292385405-113325301504
Operating margin9%10%10%10%8%7%9%9%-3%7%7%11%
Interest expense111107110113112109107106102104101102
Pre-tax income224320343271297206267134-22099.8202414
Tax rate6%-19%13%-4%18%-16%15%12%n/a-283%14%22%
Net income16131321718718515714949.0-285294125292
Net margin4%7%5%4%4%4%3%1%-7%6%3%7%
Diluted EPS$0.46$0.94$0.67$0.60$0.61$0.52$0.51$0.18-$1.05$1.12$0.48$1.11
Operating cash flow694716549474667672547646681655568559
Capital expenditure210329172238336404228268276296155241
Free cash flow484387377236331268319377405359413317
Buybacks5666235074093231204892280.051188.9174
Dividends paid0.00.0n/an/an/an/an/an/an/an/an/an/a
Shares outstanding341m327m315m305m297m294m280m272m272m258m256m252m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Profit and loss, 12 fiscal years and the trailing twelve months

FY2014 FY2015FY2016 FY2017 FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Revenue10,0829,1909,47810,79711,76312,9005,1629,68013,12716,16417,24117,53817,761
Selling, general and administrative1,3191,3091,3791,5601,7652,1012,1222,5074,2274,7014,8254,8785,045
Operating income1,324-1562,0801,7151,4693,940-6422,2791,4391,8911,4901,0021,017
Operating margin13.1%-1.7%21.9%15.9%12.5%30.5%-12.4%23.5%11.0%11.7%8.6%5.7%5.7%
Interest expense817798695669770848676800595460443419409
Pre-tax income411-1,0461,2599616342,847-1,5111,4629041,4731,117281496
Income tax284-6.621.7-1,12750.1632-19225369715852.5-240-178
Effective tax rate69.0%n/a1.7%-117.3%7.9%22.2%n/a17.3%77.1%10.7%4.7%-85.5%-35.8%
Net income-150-4481,1011,9524672,049-1,0331,2541,4731,142747206426
Net margin-1.5%-4.9%11.6%18.1%4.0%15.9%-20.0%13.0%11.2%7.1%4.3%1.2%2.4%
Diluted EPS-$0.31-$0.82$1.92$3.35$0.81$3.88-$2.02$2.41$3.49$3.19$2.40$0.76$1.66
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

Income statement lines from each year's 10-K, the year linked to its filing; TTM is the sum of the last four quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

FY2014 FY2015FY2016 FY2017 FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Operating cash flown/a1,0051,5342,2061,7231,810-1,4931,3731,7562,6912,3622,5292,463
Capital expenditure8721,4672,2621,8641,4877392714917659321,1511,069968
Free cash flown/a-462-7293422361,071-1,7648839911,7591,2121,4601,495
Free cash flow marginn/a-5.0%-7.7%3.2%2.0%8.3%-34.2%9.1%7.6%10.9%7.0%8.3%8.4%
Depreciation and amortisation8168208509931,1781,3051,2111,1513,4828148311,0181,085
Share-based compensation37.342.955.562.570.288.810765.271.373.680.290.596.2
Buybacksn/a0.00.03281,2831,0323541,7542,7752,2921,3581,228774
Dividends paidn/a0.00.025226127177.64.84.00.00.0n/an/a
Dividend per sharen/a$0.00$0.00$0.44$0.48$0.52$0.16$0.01$0.01n/an/an/an/a
Diluted shares, weighted491m543m573m579m550m528m494m487m413m359m310m277m258m
Shares outstanding at period end491m565m574m566m527m503m494m454m379m327m294m258m252m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

Buybacks and dividends are the cash paid in the year, from the cash flow statement; the dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2014 FY2015FY2016 FY2017 FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Total assets26,59425,21528,17329,15930,21133,87636,49540,89945,69242,36942,23241,37439,848
Cash and equivalents1,7141,6701,4471,5001,5272,3305,1024,7035,9122,9282,4162,0632,547
Receivables4734815435426576133175848529291,0711,1231,218
Inventory10410497.710211110388.396.4126142141125123
Goodwill2,8971,4311,8171,8071,8212,0852,0913,4815,0295,1665,1454,9024,769
Long-term debt14,05112,69712,98812,90915,13111,16912,37712,7718,7196,3446,3626,2306,068
Borrowings, as the company tags them14,17112,82413,14413,01815,25311,27212,48112,8618,7616,3726,4036,2606,103
Operating lease liabilitiesn/an/an/an/a0.04,2788,39011,80225,14925,12725,07624,96323,779
Finance lease liabilitiesn/an/an/an/an/a67.213475.688.285.4243178140
Shareholders' equity4,0915,1206,2207,5776,5127,7276,5056,0714,8323,8113,0232,4302,514
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

At the fiscal year end; the TTM column is the latest quarter end. A line the company does not tag under the usual name is left out.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded6.7%27.7%10.1%3.2%
Profit growth, compoundedn/an/a-48.1%-21.1%
Return on equity, average17.6%22.9%21.0%8.5%

Compounded growth is the latest fiscal year over the year that many years earlier, annualised; the TTM column is the last four quarters over the four before. Return on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Peers: Hotels & Motels

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Marriott International Inc. /Md/ MAR$89.4 billion35.44n/a15.8%4.7%n/a0.8%
Hilton Worldwide Holdings Inc. HLT$69.3 billion45.09n/a23.3%8.7%n/a0.2%
LAS Vegas Sands Corp. LVS$26.1 billion15.67297.2%21.5%18.1%23.572.5%
MGM Resorts International MGM$9.7 billion23.3316.9%5.7%3.2%2.410.0%
Wynn Resorts Ltd. WYNN$8.6 billion19.98n/a15.7%6.4%n/a1.2%

The names on this site in the same industry (the SEC's SIC description), by market capitalisation. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close.

Filings

FilingPeriodFiledWhere
10-Q30 June 202629 July 2026EDGAR
10-Q31 March 202629 April 2026EDGAR
10-K31 December 202511 February 2026EDGAR
10-Q30 September 202529 October 2025EDGAR
10-Q30 June 202530 July 2025EDGAR
10-Q31 March 202530 April 2025EDGAR
10-K31 December 202418 February 2025EDGAR
10-Q30 September 202430 October 2024EDGAR
10-Q30 June 202431 July 2024EDGAR
10-Q31 March 20241 May 2024EDGAR

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