MGM Resorts International (MGM) FY2022 results: revenue $13.1 billion, up 35.6% on the year
MGM Resorts International (MGM) reported revenue of $13.1 billion for fiscal 2022, the year ended 31 December 2022, up 35.6% on the year before. Net income was $1.5 billion, up 17.4%, and diluted earnings per share $3.49. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2023.
Revenue
$13.1 billion
+35.6% on the year
FY2015FY2022
Operating margin
11.0%
23.5% a year earlier
FY2015FY2022
Net income
$1.5 billion
+17.4% on the year
FY2015FY2022
Diluted EPS
$3.49
+44.8% on the year
FY2015FY2022
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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
1,756
1,373
-1,493
+27.9%
Capital expenditure
765
491
271
+55.9%
Free cash flow
991
883
-1,764
+12.3%
Free cash flow margin
7.6%
9.1%
-34.2%
Cash from investing
2,118
1,544
2,159
+37.2%
Cash from financing
-3,024
-2,814
2,103
Depreciation and amortisation
3,482
1,151
1,211
+202.6%
Share-based compensation
71.3
65.2
107
+9.4%
Buybacks
2,775
1,754
354
+58.3%
Dividends paid
4.0
4.8
77.6
-15.5%
Dividend per share
$0.01
$0.01
$0.16
0.0%
Diluted shares, weighted
413m
487m
494m
-15.3%
Shares outstanding at period end
379m
454m
494m
-16.5%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
4,832
6,071
6,505
-20.4%
Non-controlling interest
379
4,906
4,675
-92.3%
Redeemable equity
158
148
66.5
+7.3%
Debt
8,719
13,091
12,849
-33.4%
Operating lease liabilities
25,149
11,802
8,390
+113.1%
Finance lease liabilities
88.2
75.6
134
+16.7%
Other liabilities
6,367
4,806
3,875
+32.5%
Total liabilities and equity
45,692
40,899
36,495
+11.7%
Fixed assets
5,224
14,435
14,632
-63.8%
Goodwill
5,029
3,481
2,091
+44.5%
Intangible assets
1,551
3,616
3,644
-57.1%
Cash and equivalents
5,912
4,703
5,102
+25.7%
Receivables
852
584
317
+45.9%
Inventory
126
96.4
88.3
+30.8%
Other assets
26,998
13,983
10,621
+93.1%
Total assets
45,692
40,899
36,495
+11.7%
10-K for the year ended 31 December 2022, filed 24 February 2023: the filing.