MGM Resorts International (MGM) FY2012 results: revenue $9.2 billion, up 16.7% on the year
MGM Resorts International (MGM) reported revenue of $9.2 billion for fiscal 2012, the year ended 31 December 2012, up 16.7% on the year before. Net income was -$1.8 billion, and diluted earnings per share $-3.62. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2013.
Revenue
$9.2 billion
+16.7% on the year
FY2008FY2012
Operating margin
1.3%
51.7% a year earlier
FY2008FY2012
Net income
-$1.8 billion
FY2008FY2012
Diluted EPS
-$3.62
FY2008FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
9,161
7,849
6,056
+16.7%
Selling, general and administrative
n/a
1,183
1,129
Operating income
121
4,057
-1,159
-97.0%
Operating margin
1.3%
51.7%
-19.1%
Interest expense
1,116
1,087
1,114
+2.7%
Pre-tax income
-1,734
2,832
-2,216
Income tax
-117
-403
-779
Effective tax rate
n/a
-14.2%
n/a
Net income
-1,768
3,115
-1,437
Net margin
-19.3%
39.7%
-23.7%
Diluted EPS
-$3.62
$5.62
-$3.19
$ million except per share. Read moreFree 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.
Cash flow
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
909
675
504
+34.7%
Capital expenditure
423
301
207
+40.3%
Free cash flow
487
374
297
+30.1%
Free cash flow margin
5.3%
4.8%
4.9%
Cash from investing
n/a
n/a
-586
Cash from financing
n/a
n/a
-1,475
Depreciation and amortisation
928
817
633
+13.5%
Share-based compensation
39.6
39.7
35.0
-0.4%
Diluted shares, weighted
489m
561m
450m
-12.8%
Shares outstanding at period end
489m
489m
489m
+0.1%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
4,366
6,087
2,932
-28.3%
Non-controlling interest
3,750
3,796
n/a
-1.2%
Debt
13,589
13,470
12,048
+0.9%
Other liabilities
4,579
4,414
3,981
+3.8%
Total liabilities and equity
26,285
27,766
18,961
-5.3%
Fixed assets
14,195
14,867
14,554
-4.5%
Goodwill
2,903
2,897
77.2
+0.2%
Intangible assets
4,738
5,048
343
-6.1%
Cash and equivalents
1,544
1,866
499
-17.3%
Receivables
444
492
322
-9.8%
Inventory
108
113
96.4
-4.6%
Other assets
2,355
2,485
3,069
-5.2%
Total assets
26,285
27,766
18,961
-5.3%
10-K for the year ended 31 December 2012, filed 1 March 2013: the filing.