M

MGM Resorts International

MGM · CIK 0000789570

18 fiscal years · 0 SEC filings · every number carries its receipt

Revenue (FY)
$17.54B1.7%
FY2025
Net income (FY)
$205.9M72.4%
FY2025
Free cash flow (FY)
$1.46B20.5%
FY2025
Diluted EPS (FY)
$0.7668.3%
FY2025
The story, charted

The shape of the business

FY2008–FY2025 · hover any year for its receipt
Revenue & net incomeRevenueNet income
$0$10BFY2008 · Revenue $7.21B · Net income −$855.3M · 0000950123-11-019786 · filed 2011-02-28FY08Revenue $7.21BNet income −$855.3M0000950123-11-019786 · filed 2011-02-28FY2009 · Revenue $6.01B · Net income −$1.29B · 0001047469-12-001824 · filed 2012-02-29FY09Revenue $6.01BNet income −$1.29B0001047469-12-001824 · filed 2012-02-29FY2010 · Revenue $6.06B · Net income −$1.44B · 0001047469-13-001980 · filed 2013-03-01FY10Revenue $6.06BNet income −$1.44B0001047469-13-001980 · filed 2013-03-01FY2011 · Revenue $7.85B · Net income $3.11B · 0001193125-14-078072 · filed 2014-03-03FY11Revenue $7.85BNet income $3.11B0001193125-14-078072 · filed 2014-03-03FY2012 · Revenue $9.16B · Net income −$1.77B · 0001193125-14-078072 · filed 2014-03-03 · 0001564590-15-001180 · filed 2015-03-02FY12Revenue $9.16BNet income −$1.77B0001193125-14-078072 · filed 2014-03-03 · 0001564590-15-001180 · filed 2015-03-02FY2013 · Revenue $9.81B · Net income −$171.7M · 0001193125-14-078072 · filed 2014-03-03 · 0001564590-16-013639 · filed 2016-02-29FY13Revenue $9.81BNet income −$171.7M0001193125-14-078072 · filed 2014-03-03 · 0001564590-16-013639 · filed 2016-02-29FY2014 · Revenue $10.08B · Net income −$149.9M · 0001564590-17-003007 · filed 2017-03-01FY14Revenue $10.08BNet income −$149.9M0001564590-17-003007 · filed 2017-03-01FY2015 · Revenue $9.19B · Net income −$447.7M · 0001564590-18-003942 · filed 2018-03-01FY15Revenue $9.19BNet income −$447.7M0001564590-18-003942 · filed 2018-03-01FY2016 · Revenue $9.48B · Net income $1.10B · 0001564590-19-004807 · filed 2019-02-27FY16Revenue $9.48BNet income $1.10B0001564590-19-004807 · filed 2019-02-27FY2017 · Revenue $10.80B · Net income $1.95B · 0001564590-20-007393 · filed 2020-02-27FY17Revenue $10.80BNet income $1.95B0001564590-20-007393 · filed 2020-02-27FY2018 · Revenue $11.76B · Net income $466.8M · 0001564590-21-009205 · filed 2021-02-26FY18Revenue $11.76BNet income $466.8M0001564590-21-009205 · filed 2021-02-26FY2019 · Revenue $12.90B · Net income $2.05B · 0000789570-22-000005 · filed 2022-02-25FY19Revenue $12.90BNet income $2.05B0000789570-22-000005 · filed 2022-02-25FY2020 · Revenue $5.16B · Net income −$1.03B · 0000789570-23-000008 · filed 2023-02-24FY20Revenue $5.16BNet income −$1.03B0000789570-23-000008 · filed 2023-02-24FY2021 · Revenue $9.68B · Net income $1.25B · 0000789570-24-000005 · filed 2024-02-23FY21Revenue $9.68BNet income $1.25B0000789570-24-000005 · filed 2024-02-23FY2022 · Revenue $13.13B · Net income $1.47B · 0000789570-25-000008 · filed 2025-02-18FY22Revenue $13.13BNet income $1.47B0000789570-25-000008 · filed 2025-02-18FY2023 · Revenue $16.16B · Net income $1.14B · 0000789570-26-000018 · filed 2026-02-11FY23Revenue $16.16BNet income $1.14B0000789570-26-000018 · filed 2026-02-11FY2024 · Revenue $17.24B · Net income $746.6M · 0000789570-26-000018 · filed 2026-02-11FY24Revenue $17.24BNet income $746.6M0000789570-26-000018 · filed 2026-02-11FY2025 · Revenue $17.54B · Net income $205.9M · 0000789570-26-000018 · filed 2026-02-11FY25Revenue $17.54BNet income $205.9M0000789570-26-000018 · filed 2026-02-11FY25Revenue $17.54BNet income $205.9M0000789570-26-000018 · filed 2026-02-11FY09FY11FY13FY15FY17FY19FY21FY23FY25

revenue 2.4× since FY2008 · net margin -11.9% → 1.2%

MarginsNet marginFCF margin
0%FY2008 · Net margin -11.9% · FCF margin -0.4%FY08Net margin -11.9%FCF margin -0.4%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2009 · Net margin -21.5% · FCF margin 7.5%FY09Net margin -21.5%FCF margin 7.5%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2010 · Net margin -23.7% · FCF margin 4.9%FY10Net margin -23.7%FCF margin 4.9%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2011 · Net margin 39.7% · FCF margin 4.8%FY11Net margin 39.7%FCF margin 4.8%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2012 · Net margin -19.3% · FCF margin 5.3%FY12Net margin -19.3%FCF margin 5.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2013 · Net margin -1.8% · FCF margin 7.6%FY13Net margin -1.8%FCF margin 7.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2014 · Net margin -1.5% · FCF margin 2.6%FY14Net margin -1.5%FCF margin 2.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2015 · Net margin -4.9% · FCF margin -5.0%FY15Net margin -4.9%FCF margin -5.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2016 · Net margin 11.6% · FCF margin -7.7%FY16Net margin 11.6%FCF margin -7.7%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2017 · Net margin 18.1% · FCF margin 3.2%FY17Net margin 18.1%FCF margin 3.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2018 · Net margin 4.0% · FCF margin 2.0%FY18Net margin 4.0%FCF margin 2.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2019 · Net margin 15.9% · FCF margin 8.3%FY19Net margin 15.9%FCF margin 8.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2020 · Net margin -20.0% · FCF margin -34.2%FY20Net margin -20.0%FCF margin -34.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2021 · Net margin 13.0% · FCF margin 9.1%FY21Net margin 13.0%FCF margin 9.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2022 · Net margin 11.2% · FCF margin 7.6%FY22Net margin 11.2%FCF margin 7.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2023 · Net margin 7.1% · FCF margin 10.9%FY23Net margin 7.1%FCF margin 10.9%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2024 · Net margin 4.3% · FCF margin 7.0%FY24Net margin 4.3%FCF margin 7.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2025 · Net margin 1.2% · FCF margin 8.3%FY25Net margin 1.2%FCF margin 8.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY25Net margin 1.2%FCF margin 8.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenue’09’13’17’21’25

FY2025: net 1.2% · free cash flow 8.3% of revenue

Cash engineOperating cash flowFree cash flow
−$2B$0$2BFY2008 · OCF $753.0M · FCF −$28.7M · 0000950123-11-019786 · filed 2011-02-28FY08OCF $753.0MFCF −$28.7M0000950123-11-019786 · filed 2011-02-28FY2009 · OCF $587.9M · FCF $451.1M · 0000950123-11-019786 · filed 2011-02-28FY09OCF $587.9MFCF $451.1M0000950123-11-019786 · filed 2011-02-28FY2010 · OCF $504.0M · FCF $296.5M · 0000950123-11-019786 · filed 2011-02-28FY10OCF $504.0MFCF $296.5M0000950123-11-019786 · filed 2011-02-28FY2011 · OCF $675.1M · FCF $373.9M · 0001193125-14-078072 · filed 2014-03-03FY11OCF $675.1MFCF $373.9M0001193125-14-078072 · filed 2014-03-03FY2012 · OCF $909.4M · FCF $486.6M · 0001564590-15-001180 · filed 2015-03-02FY12OCF $909.4MFCF $486.6M0001564590-15-001180 · filed 2015-03-02FY2013 · OCF $1.31B · FCF $748.3M · 0001564590-16-013639 · filed 2016-02-29FY13OCF $1.31BFCF $748.3M0001564590-16-013639 · filed 2016-02-29FY2014 · OCF $1.13B · FCF $258.6M · 0001564590-17-003007 · filed 2017-03-01FY14OCF $1.13BFCF $258.6M0001564590-17-003007 · filed 2017-03-01FY2015 · OCF $1.01B · FCF −$461.7M · 0001564590-18-003942 · filed 2018-03-01FY15OCF $1.01BFCF −$461.7M0001564590-18-003942 · filed 2018-03-01FY2016 · OCF $1.53B · FCF −$728.5M · 0001564590-19-004807 · filed 2019-02-27FY16OCF $1.53BFCF −$728.5M0001564590-19-004807 · filed 2019-02-27FY2017 · OCF $2.21B · FCF $342.3M · 0001564590-20-007393 · filed 2020-02-27FY17OCF $2.21BFCF $342.3M0001564590-20-007393 · filed 2020-02-27FY2018 · OCF $1.72B · FCF $235.7M · 0001564590-21-009205 · filed 2021-02-26FY18OCF $1.72BFCF $235.7M0001564590-21-009205 · filed 2021-02-26FY2019 · OCF $1.81B · FCF $1.07B · 0000789570-22-000005 · filed 2022-02-25FY19OCF $1.81BFCF $1.07B0000789570-22-000005 · filed 2022-02-25FY2020 · OCF −$1.49B · FCF −$1.76B · 0000789570-23-000008 · filed 2023-02-24FY20OCF −$1.49BFCF −$1.76B0000789570-23-000008 · filed 2023-02-24FY2021 · OCF $1.37B · FCF $882.7M · 0000789570-24-000005 · filed 2024-02-23FY21OCF $1.37BFCF $882.7M0000789570-24-000005 · filed 2024-02-23FY2022 · OCF $1.76B · FCF $991.4M · 0000789570-25-000008 · filed 2025-02-18FY22OCF $1.76BFCF $991.4M0000789570-25-000008 · filed 2025-02-18FY2023 · OCF $2.69B · FCF $1.76B · 0000789570-26-000018 · filed 2026-02-11FY23OCF $2.69BFCF $1.76B0000789570-26-000018 · filed 2026-02-11FY2024 · OCF $2.36B · FCF $1.21B · 0000789570-26-000018 · filed 2026-02-11FY24OCF $2.36BFCF $1.21B0000789570-26-000018 · filed 2026-02-11FY2025 · OCF $2.53B · FCF $1.46B · 0000789570-26-000018 · filed 2026-02-11FY25OCF $2.53BFCF $1.46B0000789570-26-000018 · filed 2026-02-11FY25OCF $2.53BFCF $1.46B0000789570-26-000018 · filed 2026-02-11’09’13’17’21’25

FY2025: $2.53B operating cash − $1.07B capex = $1.46B free cash flow

Returns on capitalReturn on equityReturn on assets
-50%0%50%FY2009 · ROE -33.4% · ROA -5.7%FY09ROE -33.4%ROA -5.7%derived: net income ÷ equity · derived: net income ÷ assetsFY2010 · ROE -49.0% · ROA -7.6%FY10ROE -49.0%ROA -7.6%derived: net income ÷ equity · derived: net income ÷ assetsFY2011 · ROE 51.2% · ROA 11.2%FY11ROE 51.2%ROA 11.2%derived: net income ÷ equity · derived: net income ÷ assetsFY2012 · ROE -40.5% · ROA -6.7%FY12ROE -40.5%ROA -6.7%derived: net income ÷ equity · derived: net income ÷ assetsFY2013 · ROE -4.1% · ROA -0.7%FY13ROE -4.1%ROA -0.7%derived: net income ÷ equity · derived: net income ÷ assetsFY2014 · ROE -3.7% · ROA -0.6%FY14ROE -3.7%ROA -0.6%derived: net income ÷ equity · derived: net income ÷ assetsFY2015 · ROE -8.7% · ROA -1.8%FY15ROE -8.7%ROA -1.8%derived: net income ÷ equity · derived: net income ÷ assetsFY2016 · ROE 17.7% · ROA 3.9%FY16ROE 17.7%ROA 3.9%derived: net income ÷ equity · derived: net income ÷ assetsFY2017 · ROE 25.8% · ROA 6.7%FY17ROE 25.8%ROA 6.7%derived: net income ÷ equity · derived: net income ÷ assetsFY2018 · ROE 7.2% · ROA 1.5%FY18ROE 7.2%ROA 1.5%derived: net income ÷ equity · derived: net income ÷ assetsFY2019 · ROE 26.5% · ROA 6.0%FY19ROE 26.5%ROA 6.0%derived: net income ÷ equity · derived: net income ÷ assetsFY2020 · ROE -15.9% · ROA -2.8%FY20ROE -15.9%ROA -2.8%derived: net income ÷ equity · derived: net income ÷ assetsFY2021 · ROE 20.7% · ROA 3.1%FY21ROE 20.7%ROA 3.1%derived: net income ÷ equity · derived: net income ÷ assetsFY2022 · ROE 30.5% · ROA 3.2%FY22ROE 30.5%ROA 3.2%derived: net income ÷ equity · derived: net income ÷ assetsFY2023 · ROE 30.0% · ROA 2.7%FY23ROE 30.0%ROA 2.7%derived: net income ÷ equity · derived: net income ÷ assetsFY2024 · ROE 24.7% · ROA 1.8%FY24ROE 24.7%ROA 1.8%derived: net income ÷ equity · derived: net income ÷ assetsFY2025 · ROE 8.5% · ROA 0.5%FY25ROE 8.5%ROA 0.5%derived: net income ÷ equity · derived: net income ÷ assetsFY25ROE 8.5%ROA 0.5%derived: net income ÷ equity · derived: net income ÷ assets’09’13’17’21’25

return on equity -33% (FY2009) → 8% (FY2025) · on assets 0.5%

Balance sheetLiabilitiesEquity
$0$20B$40BFY2011 · Liabilities $17.88B · Equity $6.09BFY11Liabilities $17.88BEquity $6.09B0001047469-13-001980 · filed 2013-03-01FY2012 · Liabilities $18.17B · Equity $4.37BFY12Liabilities $18.17BEquity $4.37B0001193125-14-078072 · filed 2014-03-03FY2013 · Liabilities $18.22B · Equity $4.22BFY13Liabilities $18.22BEquity $4.22B0001564590-15-001180 · filed 2015-03-02FY2014 · Liabilities $18.97B · Equity $4.09BFY14Liabilities $18.97BEquity $4.09B0001564590-16-013639 · filed 2016-02-29FY2015 · Liabilities $17.44B · Equity $5.12BFY15Liabilities $17.44BEquity $5.12B0001564590-17-003007 · filed 2017-03-01FY2016 · Liabilities $18.15B · Equity $6.22BFY16Liabilities $18.15BEquity $6.22B0001564590-18-003942 · filed 2018-03-01FY2017 · Liabilities $17.47B · Equity $7.58BFY17Liabilities $17.47BEquity $7.58B0001564590-19-004807 · filed 2019-02-27FY2018 · Liabilities $19.64B · Equity $6.51BFY18Liabilities $19.64BEquity $6.51B0001564590-20-007393 · filed 2020-02-27FY2019 · Liabilities $21.11B · Equity $7.73BFY19Liabilities $21.11BEquity $7.73B0001564590-20-007393 · filed 2020-02-27 · 0001564590-21-009205 · filed 2021-02-26FY2023 · Liabilities $38.00B · Equity $3.81BFY23Liabilities $38.00BEquity $3.81B0000789570-25-000008 · filed 2025-02-18FY2024 · Liabilities $38.51B · Equity $3.02BFY24Liabilities $38.51BEquity $3.02B0000789570-26-000018 · filed 2026-02-11FY2025 · Liabilities $38.10B · Equity $2.43BFY25Liabilities $38.10BEquity $2.43B0000789570-26-000018 · filed 2026-02-11FY25Liabilities $38.10BEquity $2.43B0000789570-26-000018 · filed 2026-02-11’13’16’19’25

FY2025: $41.37B assets · $38.10B liabilities · $2.43B equity

The receipts