MGM Resorts (MGM) stock
Consumer Discretionary · Casinos & Gaming
MGM Resorts (MGM) is a Casinos & Gaming company in the Consumer Discretionary sector, headquartered in Paradise, Nevada. As of October 23, 2026, MGM closed at $28.06, a market capitalization of $7.18 billion, the 501st largest company in the S&P 500. Over the last twelve months it generated $17.76 billion in revenue (+1% year over year) and $1.49 billion in free cash flow. The stock trades at 17.3x trailing earnings and 15.9x forward earnings.
- 1-year total return: -15.1% (dividends reinvested)
- 5-year return: -10.2% a year
- 52-week range: $27.68 – $51.59
- Gross margin 44.2%, operating margin 6.8%
- FI Handbook report card: B- across 10 metrics
- 46th largest of 47 Consumer Discretionary stocks in the S&P 500
MGM price chart
1Y price change: -15.1% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| MGM | -25.9% | -23.1% | -15.1% | -8.5% | -10.2% | +1.3% | +6.4% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 1988.
MGM key statistics
- Market cap
- $7.2B
- #501 in S&P 500
- P/E (TTM)
- 17.3x
- Forward P/E
- 15.9x
- EPS (TTM)
- $1.62
- Revenue (TTM)
- $17.8B
- +1%
- Free cash flow
- $1.5B
- Gross margin
- 44.2%
- Operating margin
- 6.8%
- Return on equity
- 18.9%
- Dividend yield
- None
- 52-week range
- $27.68 – $51.59
- Beta
- 1.35
- Price / sales
- 0.4x
- EV / EBITDA
- 15.8x
- Debt / equity
- 8.93x
- Employees
- 60,000
MGM report card
B-Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth1.0%D
- Gross margin44.2%B
- Operating margin6.8%D
- FCF margin8.4%C
- Return on equity18.9%B
- Net debt / EBITDA12.2xF
- Forward P/E15.9xB
- PEG ratio0.5xA
- Shareholder yield17.1%A
- Share count change / yr-10.9%A
MGM Resorts International financials
Revenue went from $9.5B in fiscal 2016 to $17.5B in fiscal 2025, growing 7.1% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $9.5B | $10.8B | $11.8B | $12.9B | $5.2B | $9.7B | $13.1B | $16.2B | $17.2B | $17.5B |
| Operating income | $2.1B | $1.7B | $1.5B | $3.9B | -$642.4M | $2.3B | $1.4B | $1.9B | $1.5B | $1.0B |
| Net income | $1.1B | $2.0B | $466.8M | $2.0B | -$1.0B | $1.3B | $1.5B | $1.1B | $746.6M | $205.9M |
| EPS (diluted) | $1.92 | $3.34 | $0.81 | $3.88 | $-2.02 | $2.41 | $3.49 | $3.19 | $2.40 | $0.76 |
| Free cash flow | -$728.5M | $342.3M | $235.7M | $1.1B | -$1.8B | $882.7M | $991.4M | $1.8B | $1.2B | $1.5B |
| Buybacks | $0 | $327.5M | $1.3B | $1.0B | $353.7M | $1.8B | $2.8B | $2.3B | $1.4B | $1.2B |
| Dividends paid | $0 | $252.0M | $260.6M | $271.3M | $77.6M | $4.8M | $4.0M | $0 | $0 | — |
| Diluted shares | 573.3M | 578.8M | 549.5M | 527.6M | 494.2M | 487.4M | 413.0M | 358.6M | 310.2M | 277.3M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into MGM?
A reverse DCF asks what growth the current price requires. With an enterprise value of $34.6B and $1.5B of trailing free cash flow, MGM Resorts International needs to grow free cash flow about 14.2% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return.
P/E ratio history
Current 36.9x vs. median 12.9x (10th–90th percentile 2.4x–35.9x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
MGM analyst price targets
19 analysts' average 12-month target is $41.68 (+49% vs. $28.06). Targets range from $29.00 to $57.00. 48% rate it a buy.
MGM earnings
Next report: October 28, 2026. MGM Resorts International has beaten EPS estimates 1 quarters in a row. Last quarter's revenue was $4.5B (+1% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Jul 29, 2026 | $0.58 | $0.59 | +2.2% |
| Apr 29, 2026 | $0.53 | $0.49 | -7.8% |
| Feb 5, 2026 | $0.55 | $1.60 | +189.6% |
| Oct 29, 2025 | $0.30 | $0.24 | -19.9% |
| Jul 30, 2025 | $0.55 | $0.79 | +44.0% |
| Apr 30, 2025 | $0.45 | $0.69 | +54.3% |
| Feb 12, 2025 | $0.34 | $0.45 | +33.0% |
| Oct 30, 2024 | $0.61 | $0.54 | -11.0% |
Stocks like MGM
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 LVS Las Vegas Sands | -2.33% | -36% | $23.1B | 14.6x | Compare |
 WYNN Wynn Resorts | -3.19% | -41% | $7.5B | 17.4x | Compare |
 AMZN Amazon.com | -0.95% | +12% | $2.7T | 20.0x | Compare |
 TSLA Tesla | -0.63% | -17% | $1.5T | 409.0x | Compare |
 HD Home Depot | -2.41% | -15% | $319.1B | 21.5x | Compare |
 MCD McDonald's | -1.65% | -17% | $175.8B | 20.2x | Compare |
 TJX TJX Companies | -1.57% | +3% | $159.6B | 26.9x | Compare |
 BKNG Booking Holdings Inc. Common St | -3.27% | -23% | $117.1B | 17.3x | Compare |
MGM news
- MGM Resorts to Report Q3 Earnings: What's in Store for the Stock? · Oct 23, 2026
- MGM Resorts International Earnings Preview: What to Expect · Oct 23, 2026
- MGM Resorts International’s (MGM) Solid Regionals Performance Overshadowed by M&A Noise · Oct 21, 2026
- Earnings Preview: MGM Resorts (MGM) Q3 Earnings Expected to Decline · Oct 21, 2026
- Surprised By Las Vegas Sands' Slide? What Investors Missed · Oct 22, 2026
MGM stock FAQ
What is MGM's market cap?
MGM Resorts's market capitalization is $7.18 billion as of October 23, 2026, ranking 501st in the S&P 500.
What is MGM's P/E ratio?
MGM trades at a trailing price-to-earnings ratio of 17.3x and a forward P/E of 15.9x. Its median P/E over the period we track is 12.9x.
Does MGM pay a dividend?
No. MGM Resorts does not currently pay a regular cash dividend.
How much has MGM stock returned?
Including reinvested dividends, MGM returned -15.1% over one year, -10.2% a year over five years, +1.3% a year over ten years through October 23, 2026.
Is MGM stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies MGM Resorts must grow free cash flow about 14% a year for the next decade. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
What is the MGM price target?
19 analysts cover MGM with an average 12-month price target of $41.68, +49% from the current price. 48% of them rate it a buy.
When does MGM report earnings?
MGM Resorts is expected to report earnings on October 28, 2026. It has beaten EPS estimates 1 quarters in a row.
How many employees does MGM Resorts have?
MGM Resorts has about 60,000 full-time employees, or $296,024 of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology