Wynn Resorts (WYNN) FY2019 results: revenue $6.6 billion, down 1.6% on the year
Wynn Resorts Ltd. (WYNN) reported revenue of $6.6 billion for fiscal 2019, the year ended 31 December 2019, down 1.6% on the year before. Net income was $123 million, down 78.5%, and diluted earnings per share $1.15. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2020.
Revenue
$6.6 billion
-1.6% on the year
FY2012FY2019
Operating margin
13.3%
10.9% a year earlier
FY2012FY2019
Net income
$123 million
-78.5% on the year
FY2012FY2019
Diluted EPS
$1.15
-78.5% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
6,611
6,718
6,070
-1.6%
Selling, general and administrative
897
761
685
+17.8%
Operating income
878
736
1,056
+19.4%
Operating margin
13.3%
10.9%
17.4%
Interest expense
414
382
389
+8.4%
Pre-tax income
488
306
560
+59.7%
Income tax
177
-497
-329
Effective tax rate
36.2%
-162.7%
-58.7%
Net income
123
572
747
-78.5%
Net margin
1.9%
8.5%
12.3%
Diluted EPS
$1.15
$5.35
$7.28
-78.5%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
901
961
1,877
-6.3%
Capital expenditure
1,063
1,476
935
-28.0%
Free cash flow
-162
-514
941
Free cash flow margin
-2.5%
-7.7%
15.5%
Cash from investing
-1,069
-1,223
-958
Cash from financing
299
-324
-754
Depreciation and amortisation
625
551
552
+13.5%
Share-based compensation
39.7
36.5
44.0
+8.8%
Buybacks
67.0
160
17.8
-58.0%
Dividends paid
567
570
321
-0.6%
Dividend per share
$3.75
$2.75
$2.00
+36.4%
Diluted shares, weighted
107m
107m
103m
-0.0%
Shares outstanding at period end
107m
107m
103m
+0.1%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
1,743
2,034
948
-14.3%
Non-controlling interest
-202
-219
131
Debt
10,404
9,423
9,629
+10.4%
Operating lease liabilities
159
0.0
n/a
Finance lease liabilities
17.8
n/a
n/a
Other liabilities
1,749
1,978
1,975
-11.6%
Total liabilities and equity
13,871
13,216
12,682
+5.0%
Fixed assets
9,624
9,386
8,499
+2.5%
Goodwill
18.5
0.0
n/a
Intangible assets
146
223
124
-34.2%
Investments
n/a
0.0
327
Cash and equivalents
2,352
2,215
2,804
+6.2%
Receivables
346
277
224
+25.2%
Inventory
88.5
66.6
71.6
+32.9%
Other assets
1,296
1,050
632
+23.5%
Total assets
13,871
13,216
12,682
+5.0%
10-K for the year ended 31 December 2019, filed 28 February 2020: the filing.