MGM Resorts International (MGM) FY2013 results: revenue $9.8 billion, up 7.1% on the year
MGM Resorts International (MGM) reported revenue of $9.8 billion for fiscal 2013, the year ended 31 December 2013, up 7.1% on the year before. Net income was -$172 million, and diluted earnings per share $-0.32. The figures are the company's own, from the 10-K it filed with the SEC on 3 March 2014.
Revenue
$9.8 billion
+7.1% on the year
FY2008FY2013
Operating margin
11.6%
1.3% a year earlier
FY2008FY2013
Net income
-$172 million
FY2008FY2013
Diluted EPS
-$0.32
FY2008FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
9,810
9,161
7,849
+7.1%
Selling, general and administrative
n/a
n/a
1,183
Operating income
1,137
121
4,057
+837.2%
Operating margin
11.6%
1.3%
51.7%
Interest expense
857
1,116
1,087
-23.2%
Pre-tax income
62.2
-1,734
2,832
Income tax
20.8
-117
-403
Effective tax rate
33.5%
n/a
-14.2%
Net income
-172
-1,768
3,115
Net margin
-1.8%
-19.3%
39.7%
Diluted EPS
-$0.32
-$3.62
$5.62
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
1,310
909
675
+44.1%
Capital expenditure
562
423
301
+33.0%
Free cash flow
748
487
374
+53.8%
Free cash flow margin
7.6%
5.3%
4.8%
Depreciation and amortisation
849
928
817
-8.5%
Share-based compensation
32.3
39.6
39.7
-18.3%
Diluted shares, weighted
490m
489m
561m
+0.1%
Shares outstanding at period end
490m
489m
489m
+0.2%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
4,216
4,366
6,087
-3.4%
Non-controlling interest
3,644
3,750
3,796
-2.8%
Debt
13,447
13,589
13,470
-1.0%
Other liabilities
4,802
4,579
4,414
+4.9%
Total liabilities and equity
26,110
26,285
27,766
-0.7%
Fixed assets
14,055
14,195
14,867
-1.0%
Goodwill
2,897
2,903
2,897
-0.2%
Intangible assets
4,512
4,738
5,048
-4.8%
Cash and equivalents
1,804
1,544
1,866
+16.9%
Receivables
488
444
492
+10.0%
Inventory
108
108
113
+0.3%
Other assets
2,246
2,355
2,485
-4.6%
Total assets
26,110
26,285
27,766
-0.7%
10-K for the year ended 31 December 2013, filed 3 March 2014: the filing.