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Updated: Dec 16, 2025

Stock Analysis

MGM Logo
$37.38
-$0.02 |-0.05%
Day Range:
$36.75 - $37.93
Market Cap:
10.16B
P/E Ratio:
187.0000
Avg Value:
$33.31
Year Range:
$25.30 - $41.32
1
General Information
MGM Resorts is the largest resort operator on the Las Vegas Strip with 37,000 guest rooms and suites, representing about one fourth of all units in the market.

The company's Vegas properties include MGM Grand, Mandalay Bay, Park MGM, Luxor, New York-New York, and Bellagio. The Strip contributed approximately 59% of total EBITDAR in 2024. MGM also owns US regional assets, which represented a low 20s share of 2024 EBITDAR (MGM's Macao EBITDAR was 21% of the total in 2024). MGM's US sports and i-gaming operations are currently a high-single-digit percentage of its total revenue. The company also operates the 56%-owned MGM China casinos with a second property that opened on the Cotai Strip in early 2018. We estimate MGM will open a resort in Japan in 2030.

2
MGM Resorts International (MGM) Stock Graph
3
How We Grade MGM Resorts International (MGM)

We grade stocks based on past performance, their future growth potential, intrinsic value, dividend history, and overall financial health.

The chart below shows how we grade MGM Resorts International (MGM) across the board compared to its closest peers.

4
Benzinga Edge Rankings

Benzinga Edge stock rankings give you four critical scores to help you identify the strongest and weakest stocks to buy and sell.

11.97

Growth measures a stock's combined historical expansion in earnings and revenue across multiple time periods, with emphasis on both long-term trends and recent performance.

19.49

Value is a percentile-ranked composite metric that evaluates a stock's relative worth by comparing its market price to fundamental measures of the company's assets, earnings, sales, and operating performance.

Momentum measures a stock's relative strength based on its price movement patterns and volatility over multiple timeframes, ranked as a percentile against other stocks.

Stock Score Locked: Want to See it?
Benzinga Rankings give you vital metrics on any stock – anytime.
5
Peer Ratings

See how MGM Resorts International compares to its peers in these key performance metrics from Benzinga Rankings.

Top Peers
Value
Quality
Growth
Momentum
Short
Medium
Long
CHDNChurchill Downs
24.98
45.82
25.55
44.65
WYNNWynn Resorts
27.93
0
54.95
83.97
SRADSportradar Gr
9.41
0
41.14
64.5
BYDBoyd Gaming
37.41
77.56
77
66.45
Short: price trend over the last couple of months
Medium: price trend over the last couple of quarters
Long: price trend over the past year
Stock Score Locked: Want to See it?
Benzinga Rankings give you vital metrics on any stock – anytime.
6
Future Growth
Our estimate of future price growth is based on an aggregation of 11 analyst ratings over the past 3 months and their 12-month price targets.

Below, you can see that analysts are estimating a 12-month price target range of $29.00 - $58.00 with an average of $43.79

17.88%
Expected movement for MGM Resorts International (MGM) over the next 12 months
Based on these rankings

Recent Ratings for MGM Resorts International (MGM)

Citigroup
Date:
Nov 21, 2025
Action:
Downgrades
Prev. Target:
$47.50
New Target:
$35.00
UBS
Date:
Nov 17, 2025
Action:
Maintains
Prev. Target:
$39.00
New Target:
$37.00
JP Morgan
Date:
Oct 30, 2025
Action:
Maintains
Prev. Target:
$41.00
New Target:
$38.00
Citigroup
Date:
Oct 30, 2025
Action:
Maintains
Prev. Target:
$51.00
New Target:
$47.50
Barclays
Date:
Oct 30, 2025
Action:
Maintains
Prev. Target:
$43.00
New Target:
$42.00
Truist Securities
Date:
Oct 30, 2025
Action:
Maintains
Prev. Target:
$48.00
New Target:
$47.00
Stifel
Date:
Oct 22, 2025
Action:
Maintains
Prev. Target:
$50.00
New Target:
$47.00
Truist Securities
Date:
Oct 21, 2025
Action:
Maintains
Prev. Target:
$50.00
New Target:
$48.00
JP Morgan
Date:
Oct 16, 2025
Action:
Maintains
Prev. Target:
$43.00
New Target:
$41.00
7
Valuation

Earnings History (3 years)

It is important to look at a companies earnings history to see not only if they are profitable, but if their earnings are growing.
As you can see from the chart above, MGM's earnings have fluctuated but has decreased since, this is a negative sign for the stock.
8
Financial Health
What is the current state of the company's financial situation?

We measure the health of a company based on how profitable they are and their ability to cover both their short-term and long-term debts. The key indicators that we use are the Operating Margin, Quick Ratio, and Debt-to-Equity ratio relative to the companies peers

Operational Margin 0.0516

The operating margin measures how much profit a company makes after it spends money on wages, materials or other administrative expenses but before interest and taxes. It is a good representation of how efficiently a company is able to generate profit from its core operations.

Quick Ratio 1.0144

The quick ratio measures how much of a company's debt, that is due in less than 1 year, can be covered using its cash equivalents, marketable securities, and money that is currently owed to them (accounts receivables).

A company with a quick ratio of less than 1.00 does not, in many cases, have the capital on hand to meet its short-term obligations if they were all due at once, while a quick ratio greater than one indicates the company has the financial resources to remain solvent in the short term.

Debt-to-Equity 14.1853

Debt-to-equity is calculated by dividing a company's total liabilities by its shareholders equity. It is a measure of the degree to which a company is financing its operations through debt versus wholly owned funds. Generally speaking, a D/E ratio below 1.0 would be seen as relatively safe, whereas ratios of 2.0 or higher would be considered risky.

The chart above shows MGM Resorts International (MGM) operating margin, quick ratio, and debt-to-equity ratio compared to its peers. The black markers represent the peer averages for each ratio and the blue bars represent MGM Resorts International (MGM) ratio values.
9
Past Performance
How has MGM Resorts International (MGM) performed over the past 5 years?

The two main factors that we consider when analyzing past performance is overall return and volatility

Using these two metrics, we can determine if this stock gave its investors enough return for the risk that they took on by owning it. This is measured by the sharpe ratio, which has been used as a primary measure of risk/reward trade-off for almost 60 years.

This ratio can be interpreted as the amount of return an investor has received for the amount of risk that they took on by owning the stock over that timeframe.

MGM Resorts International (MGM) sharpe ratio over the past 5 years is 0.1818 which is considered to be above average compared to the peer average of -0.1334

10
Analyzing MGM Resorts International (MGM) Recent Options Activity
Below, you can see the trend in options sentiment over the past 30 days.

Based on our data, MGM's options trades have recently carried more negative sentiment than positive.

11
Company Financials
INCOME STATEMENT
The income statement also known as the profit and loss statement, primarily focuses on the company's revenues and expenses during a particular period.

The main purpose of an income statement is to convey details of profitability and business activities. Below, is MGM's income statement for the previous four years along with its trailing-twelve- month profit & loss.

FISCAL YEAR (BIL.)
2021 ($)
2022 ($)
2023 ($)
2024 ($)
TTM ($)
Total Revenue
9.68
13.13
16.16
17.24
17.28
Operating Revenue
9.68
13.13
16.16
17.24
17.28
Cost Of Revenue
5.03
6.65
8.55
9.39
9.56
Gross Profit
4.65
6.47
7.61
7.85
7.71
Operating Expense
4.08
8.19
6.03
6.18
6.34
Selling General And Administration
2.51
4.23
4.70
4.83
4.86
Research and Development
0.00
0.00
0.00
0.00
0.00
Operating Income
0.57
-1.71
1.58
1.67
1.37
Net Non-Operating Interest Income Expense
-0.80
-0.59
-0.46
-0.44
-0.42
Other Income Expense
1.69
3.21
0.35
-0.11
-0.56
Other Non-Operating Income Expenses
0.13
0.05
0.01
-0.02
-0.30
Pre-Tax Income
1.46
0.90
1.47
1.12
0.39
Tax Provision
0.25
0.70
0.16
0.05
0.01
Net Income
1.25
1.47
1.14
0.75
0.07
Net Income Common Stockholders
1.18
1.44
1.14
0.74
0.07
Total Operating Income As Reported
2.28
1.44
1.89
1.49
0.97
Total Expenses
9.11
14.84
14.58
15.57
15.91
Net Income From Continuing And Discontinued Operation
1.25
1.47
1.14
0.75
0.07
Normalized Income
-0.04
-1.05
0.83
0.75
0.31
Interest Income
0.00
0.00
0.00
0.00
0.00
Interest Expense
0.80
0.59
0.46
0.44
0.42
Net Interest Income
-0.80
-0.59
-0.46
-0.44
-0.42
EBIT
2.26
1.50
1.93
1.56
0.81
EBITDA
3.41
4.98
2.75
2.39
1.76
Reconciled Cost Of Revenue
5.03
6.65
8.55
9.39
9.56
Reconciled Depreciation
1.15
3.48
0.81
0.83
0.95
Normalized EBITDA
1.85
1.64
2.35
2.39
2.01
Tax Rate For Calcs
0.00
0.00
0.00
0.00
0.06
Tax Effect Of Unusual Items
0.27
0.82
0.08
0.00
-0.01
BALANCE SHEET
The balance sheet is a snapshot of a companies financials during a particular period in time.

It breaks down what company owns (assets) and what a company owes (liabilities), in order to give investors an overview of its capital structure.

FISCAL YEAR (BIL.)
2021 ($)
2022 ($)
2023 ($)
2024 ($)
TTM ($)
Total Assets
40.90
45.69
42.37
42.23
41.41
Current Assets
6.42
8.15
4.91
4.36
3.93
Total Non-Current Assets
34.48
37.54
37.46
37.87
37.48
Total Liabilities Net Minority Interest
29.77
40.32
38.00
38.51
37.96
Current Liabilities
3.44
4.52
3.13
3.35
3.18
Other Non-Current Liabilities
0.32
0.26
0.54
0.91
0.78
Total Equity Gross Minority Interest
11.12
5.37
4.37
3.72
3.45
Stockholders Equity
0.00
0.00
0.00
0.00
0.00
Total Capitalization
17.84
12.26
10.15
9.39
8.84
Common Stock Equity
6.07
4.83
3.81
3.02
2.68
Net Tangible Assets
-1.03
-1.75
-3.08
-3.84
-3.88
Working Capital
2.97
3.64
1.78
1.01
0.75
Invested Capital
18.84
13.55
10.15
9.39
8.84
Tangible Book Value
-1.03
-1.75
-3.08
-3.84
-3.88
Total Debt
24.69
33.99
31.56
31.61
31.15
Net Debt
8.07
2.81
3.42
3.95
4.03
Share Issued
0.45
0.38
0.33
0.29
0.27
Ordinary Shares Number
0.45
0.38
0.33
0.29
0.27
CASH FLOW STATEMENTS
A companies statement of cash flows gives an investor a break down of the cash inflows and outflows from a companies operations and investment activities.
FISCAL YEAR (BIL.)
2021 ($)
2022 ($)
2023 ($)
2024 ($)
TTM ($)
Cash Flow from Continuing Operating Activities
1.37
1.76
2.69
2.36
2.55
Net Income from Continuing Operations
1.21
0.21
1.31
1.06
0.38
Depreciation and Amortization
1.15
3.48
0.81
0.83
0.95
Deferred Tax
0.24
0.50
-0.12
-0.09
-0.02
Deferred Income Tax
0.24
0.50
-0.12
-0.09
-0.02
Stock-Based Compensation
0.07
0.07
0.07
0.08
0.09
Other Non-Cash Items
-1.46
0.46
0.58
0.67
0.59
Change in Working Capital
0.14
0.13
0.15
-0.36
-0.04
Change in Receivables
-0.24
-0.21
-0.13
-0.16
0.01
Changes in Account Receivables
-0.24
-0.21
-0.13
-0.16
0.01
Change in Inventory
-0.03
-0.02
0.02
Change in Payables and Accrued Expense
0.44
0.18
0.41
-0.11
-0.08
Change in Payable
Change in Account Payable
Change in Other Current Assets
Change in Other Current Liabilities
Change in Other Working Capital
-0.03
0.20
-0.06
-0.13
0.02
Cash Flow from Continuing Investing Activities
1.54
2.12
-0.71
-1.28
-1.34
Net PPE Purchase and Sale
0.11
1.17
0.47
0.01
0.01
Net Business Purchase and Sale
-2.02
-2.14
-0.28
-0.30
-0.21
Purchase of Business
-2.02
-2.14
-0.28
-0.30
-0.21
Net Investment Purchase and Sale
-0.13
0.15
-0.04
Purchase of Investment
Sale of Investment
Net Other Investing Changes
0.05
0.15
Financing Cash Flow
-2.81
-3.02
-5.00
-1.56
-2.02
Cash Flow from Continuing Financing Activities
-2.81
-3.02
-5.00
-1.56
-2.02
Net Issuance Payments of Debt
-1.35
0.08
-2.38
0.03
-0.76
Net Long-Term Debt Issuance
0.75
-1.07
-1.29
-0.08
Long-Term Debt Issuance
0.75
Long-Term Debt Payments
-1.07
-1.29
-2.17
Net Short-Term Debt Issuance
-2.10
1.15
-1.10
0.10
0.41
Net Common Stock Issuance
-0.96
-2.78
-2.29
-1.36
-0.84
Common Stock Issuance
0.79
Common Stock Payments
-1.75
-2.78
-2.29
-1.36
-0.84
Cash Dividends Paid
Net Other Financing Charges
-0.50
-0.32
-0.33
-0.24
-0.42
End Cash Position
22.57
20.34
14.94
10.85
9.13
Changes in Cash
0.10
0.85
-3.03
-0.48
-0.82
Beginning Cash Position
22.47
19.50
17.96
11.36
9.94
Capital Expenditure
-0.49
-0.77
-0.93
-1.15
-1.18
Issuance of Capital Stock
0.79
Issuance of Debt
0.75
Repayment of Debt
-2.10
-1.07
-1.29
-2.17
Repurchase of Capital Stock
-1.75
-2.78
-2.29
-1.36
-0.84
Free Cash Flow
0.88
0.99
1.76
1.21
1.37