MGM Resorts International
Profit after direct costs
Core business profitability
Bottom line profitability
Top line growth rate
Flow of revenue through cost categories to net income
| Item | Trend | 2021 | 2022 | 2023 | 2024 | 2025 | YoY Change |
|---|---|---|---|---|---|---|---|
Total Revenue | 9.68B | 13.13B | 16.16B | 17.24B | 17.54B | 1.7% | |
| Cost of Revenue | (5.03B) | (6.65B) | (8.55B) | (9.39B) | (9.75B) | 3.8% | |
Gross Profit | 4.65B | 6.47B | 7.61B | 7.85B | 7.79B | -0.7% | |
| Operating Expenses | |||||||
| Research & Development | — | — | — | — | — | — | |
| Selling, General & Administrative | (2.51B) | (4.23B) | (4.70B) | (4.83B) | (4.88B) | 1.1% | |
| General & Administrative | (2.51B) | (4.23B) | (4.70B) | (4.83B) | (4.88B) | 1.1% | |
| Depreciation & Amortization | (1.15B) | (3.48B) | (814.13M) | (831.10M) | (1.02B) | 22.5% | |
Operating Income (EBIT) | 2.28B | 1.44B | 1.89B | 1.49B | 1.00B | -32.8% | |
| Non-Operating Items | |||||||
| Interest Income | — | — | — | — | — | — | |
| Interest Expense | (799.59M) | (594.95M) | (460.29M) | (443.23M) | (419.04M) | -5.5% | |
| Other Income/Expenses (Net) | -816.89M | -535.57M | -418.73M | -373.39M | -613.82M | 64.4% | |
Income Before Tax | 1.46B | 903.80M | 1.47B | 1.12B | 387.95M | -65.3% | |
| Income Tax Expense | (253.41M) | (697.07M) | (157.84M) | (52.46M) | (44.14M) | -184.2% | |
Net Income | 1.25B | 1.47B | 1.14B | 746.56M | 206.25M | -72.4% | |
| Per Share Metrics | |||||||
| Earnings Per Share (Basic) | $2 | $1 | $3 | $2 | $1 | -68.2% | |
| Weighted Avg Shares Outstanding | 481.93M | 409.20M | 354.93M | 307.41M | 264.86M | -13.8% | |
| Weighted Avg Shares Outstanding (Diluted) | 487.36M | 412.99M | 358.63M | 310.23M | 264.86M | -14.6% | |
EBITDA | 3.41B | 4.98B | 2.40B | 2.39B | 1.72B | -28.2% |
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MGM in the Consumer Cyclical
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