MGM Resorts International (MGM) FY2015 results: revenue $9.2 billion, down 8.8% on the year
MGM Resorts International (MGM) reported revenue of $9.2 billion for fiscal 2015, the year ended 31 December 2015, down 8.8% on the year before. Net income was -$446 million, and diluted earnings per share $-0.82. The figures are the company's own, from the 10-K it filed with the SEC on 29 February 2016.
Revenue
$9.2 billion
-8.8% on the year
FY2008FY2015
Operating margin
-1.7%
13.1% a year earlier
FY2008FY2015
Net income
-$446 million
FY2008FY2015
Diluted EPS
-$0.82
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
9,190
10,082
9,810
-8.8%
Selling, general and administrative
1,309
1,319
n/a
-0.7%
Operating income
-153
1,324
1,137
Operating margin
-1.7%
13.1%
11.6%
Interest expense
798
817
857
-2.4%
Pre-tax income
-1,043
411
62.2
Income tax
-5.4
284
20.8
Effective tax rate
n/a
69.0%
33.5%
Net income
-446
-150
-172
Net margin
-4.8%
-1.5%
-1.8%
Diluted EPS
-$0.82
-$0.31
-$0.32
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
1,005
1,131
1,310
-11.1%
Capital expenditure
1,467
872
562
+68.2%
Free cash flow
-462
259
748
Free cash flow margin
-5.0%
2.6%
7.6%
Cash from investing
-795
n/a
n/a
Cash from financing
-258
n/a
n/a
Depreciation and amortisation
820
816
849
+0.5%
Share-based compensation
42.9
37.3
32.3
+15.0%
Buybacks
0.0
n/a
n/a
Dividends paid
0.0
n/a
n/a
Dividend per share
$0.00
n/a
n/a
Diluted shares, weighted
543m
491m
490m
+10.6%
Shares outstanding at period end
565m
491m
490m
+15.0%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
5,120
4,091
4,216
+25.2%
Non-controlling interest
2,644
3,537
3,644
-25.2%
Redeemable equity
6.2
n/a
n/a
Debt
12,697
14,051
13,447
-9.6%
Other liabilities
4,748
4,915
4,802
-3.4%
Total liabilities and equity
25,215
26,594
26,110
-5.2%
Fixed assets
15,372
14,442
14,055
+6.4%
Goodwill
1,431
2,897
2,897
-50.6%
Intangible assets
4,165
4,365
4,512
-4.6%
Cash and equivalents
1,670
1,714
1,804
-2.5%
Receivables
481
473
488
+1.5%
Inventory
104
104
108
+0.2%
Other assets
1,993
2,599
2,246
-23.3%
Total assets
25,215
26,594
26,110
-5.2%
10-K for the year ended 31 December 2015, filed 29 February 2016: the filing.