MGM Resorts International (MGM) FY2016 results: revenue $9.5 billion, up 3.1% on the year
MGM Resorts International (MGM) reported revenue of $9.5 billion for fiscal 2016, the year ended 31 December 2016, up 3.1% on the year before. Net income was $1.1 billion, and diluted earnings per share $1.92. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2019.
Revenue
$9.5 billion
+3.1% on the year
FY2009FY2016
Operating margin
21.9%
-1.7% a year earlier
FY2009FY2016
Net income
$1.1 billion
FY2009FY2016
Diluted EPS
$1.92
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
9,478
9,190
10,082
+3.1%
Selling, general and administrative
1,379
1,309
1,319
+5.3%
Operating income
2,080
-153
1,324
Operating margin
21.9%
-1.7%
13.1%
Interest expense
695
798
817
-12.9%
Pre-tax income
1,259
-1,043
411
Income tax
21.7
-5.4
284
Effective tax rate
1.7%
n/a
69.0%
Net income
1,101
-446
-150
Net margin
11.6%
-4.8%
-1.5%
Diluted EPS
$1.92
-$0.82
-$0.31
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
1,534
1,005
1,131
+52.6%
Capital expenditure
2,262
1,467
872
+54.2%
Free cash flow
-729
-462
259
Free cash flow margin
-7.7%
-5.0%
2.6%
Cash from investing
-2,276
-795
n/a
Cash from financing
519
-258
n/a
Depreciation and amortisation
850
820
816
+3.6%
Share-based compensation
55.5
42.9
37.3
+29.4%
Buybacks
0.0
0.0
n/a
Dividends paid
0.0
0.0
n/a
Dividend per share
$0.00
$0.00
n/a
Diluted shares, weighted
573m
543m
491m
+5.6%
Shares outstanding at period end
574m
565m
491m
+1.6%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
6,193
5,120
4,091
+21.0%
Non-controlling interest
3,749
2,644
3,537
+41.8%
Redeemable equity
54.1
6.2
n/a
+766.2%
Debt
12,988
12,697
14,051
+2.3%
Other liabilities
5,190
4,748
4,915
+9.3%
Total liabilities and equity
28,173
25,215
26,594
+11.7%
Fixed assets
18,425
15,372
14,442
+19.9%
Goodwill
1,817
1,431
2,897
+27.0%
Intangible assets
4,088
4,165
4,365
-1.9%
Cash and equivalents
1,447
1,670
1,714
-13.4%
Receivables
545
481
473
+13.4%
Inventory
97.7
104
104
-6.2%
Other assets
1,754
1,993
2,599
-12.0%
Total assets
28,173
25,215
26,594
+11.7%
10-K for the year ended 31 December 2016, filed 27 February 2019: the filing.