MGM Resorts International (MGM) FY2024 results: revenue $17.2 billion, up 6.7% on the year
MGM Resorts International (MGM) reported revenue of $17.2 billion for fiscal 2024, the year ended 31 December 2024, up 6.7% on the year before. Net income was $747 million, down 34.6%, and diluted earnings per share $2.40. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2025.
Revenue
$17.2 billion
+6.7% on the year
FY2017FY2024
Operating margin
8.6%
11.7% a year earlier
FY2017FY2024
Net income
$747 million
-34.6% on the year
FY2017FY2024
Diluted EPS
$2.40
-24.8% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
2,362
2,691
1,756
-12.2%
Capital expenditure
1,151
932
765
+23.5%
Free cash flow
1,212
1,759
991
-31.1%
Free cash flow margin
7.0%
10.9%
7.6%
Cash from investing
-1,283
-714
2,118
Cash from financing
-1,564
-5,005
-3,024
Depreciation and amortisation
831
814
3,482
+2.1%
Share-based compensation
80.2
73.6
71.3
+9.0%
Buybacks
1,358
2,292
2,775
-40.8%
Dividends paid
0.0
0.0
4.0
Dividend per share
n/a
n/a
$0.01
Diluted shares, weighted
310m
359m
413m
-13.5%
Shares outstanding at period end
294m
327m
379m
-9.9%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
3,023
3,811
4,832
-20.7%
Non-controlling interest
662
523
379
+26.5%
Redeemable equity
34.8
33.4
158
+4.3%
Debt
6,362
6,344
8,719
+0.3%
Operating lease liabilities
25,076
25,127
25,149
-0.2%
Finance lease liabilities
243
85.4
88.2
+184.9%
Other liabilities
6,830
6,444
6,367
+6.0%
Total liabilities and equity
42,232
42,369
45,692
-0.3%
Fixed assets
6,196
5,450
5,224
+13.7%
Goodwill
5,145
5,166
5,029
-0.4%
Intangible assets
1,715
1,725
1,551
-0.5%
Cash and equivalents
2,416
2,928
5,912
-17.5%
Receivables
1,071
929
852
+15.3%
Inventory
141
142
126
-0.8%
Other assets
25,548
26,030
26,998
-1.9%
Total assets
42,232
42,369
45,692
-0.3%
10-K for the year ended 31 December 2024, filed 18 February 2025: the filing.