MGM Resorts International (MGM) FY2021 results: revenue $9.7 billion, up 87.5% on the year
MGM Resorts International (MGM) reported revenue of $9.7 billion for fiscal 2021, the year ended 31 December 2021, up 87.5% on the year before. Net income was $1.3 billion, and diluted earnings per share $2.41. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2022.
Revenue
$9.7 billion
+87.5% on the year
FY2014FY2021
Operating margin
23.5%
-12.4% a year earlier
FY2014FY2021
Net income
$1.3 billion
FY2014FY2021
Diluted EPS
$2.41
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
1,373
-1,493
1,810
Capital expenditure
491
271
739
+81.4%
Free cash flow
883
-1,764
1,071
Free cash flow margin
9.1%
-34.2%
8.3%
Cash from investing
1,544
2,159
3,519
-28.5%
Cash from financing
-2,814
2,103
-4,530
Depreciation and amortisation
1,151
1,211
1,305
-5.0%
Share-based compensation
65.2
107
88.8
-39.1%
Buybacks
1,754
354
1,032
+395.7%
Dividends paid
4.8
77.6
271
-93.8%
Dividend per share
$0.01
$0.16
$0.52
-93.7%
Diluted shares, weighted
487m
494m
528m
-1.4%
Shares outstanding at period end
454m
494m
503m
-8.2%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
6,071
6,505
7,727
-6.7%
Non-controlling interest
4,906
4,675
4,936
+4.9%
Redeemable equity
148
66.5
105
+121.7%
Debt
13,091
12,849
11,532
+1.9%
Operating lease liabilities
11,802
8,390
4,278
+40.7%
Finance lease liabilities
75.6
134
67.2
-43.7%
Other liabilities
4,806
3,875
5,231
+24.0%
Total liabilities and equity
40,899
36,495
33,876
+12.1%
Fixed assets
14,435
14,632
18,286
-1.3%
Goodwill
3,481
2,091
2,085
+66.5%
Intangible assets
3,616
3,644
3,827
-0.8%
Cash and equivalents
4,703
5,102
2,330
-7.8%
Receivables
584
317
613
+84.5%
Inventory
96.4
88.3
103
+9.1%
Other assets
13,983
10,621
6,634
+31.6%
Total assets
40,899
36,495
33,876
+12.1%
10-K for the year ended 31 December 2021, filed 25 February 2022: the filing.