TORVANTA
Consumer Discretionary · S&P 500 · data as of 2026-10-05

MGM stock analysis: MGM Resorts

MGM Resorts (MGM) is an S&P 500 company in Casinos & Gaming. It grades weakest on profitability and momentum.

The model's view of MGM · subscribers

Where MGM ranks among the 1,500 U.S. stocks the model scores each trading day, its expected return, the evidence for and against it, and whether the model portfolio holds it. The grades below describe the company's data; they are not the model's view.

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What's happening with MGM · updated 2026-10-05 · from prices and SEC filings

MGM price performance

MGM against the S&P 500, one year
-20%+0%+20%+40%S&P 500 +18%MGM -17%2025-09-292026-10-05
Year to date-17.3%S&P 500 +14.5% · behind by 31.8 pts
1 year-11.1%S&P 500 +17.0% · behind by 28.1 pts
3 years-13.3%S&P 500 +89.3% · behind by 102.5 pts
5 years-32.9%S&P 500 +91.3% · behind by 124.2 pts

Total returns with dividends reinvested.

MGM factor grades

Each grade compares MGM with the rest of its sector (A+ best, F worst); the numbers behind it are shown with the typical figure for its peers.

B+ValueP/E 18.6x (sector 18.9x)FCF yield 19.7% (sector 5.3%)
C+GrowthRevenue growth +3% (sector +6%)EPS growth -11% (sector +5%)
D+ProfitabilityOperating margin 5.7% (sector 15.4%)ROIC 16.9% (sector 29.5%)
D+Momentum12-month change -11%From 52-wk high -40%

MGM in plain numbers

MGM key statistics

SectorConsumer Discretionary
IndustryCasinos & Gaming
IndexS&P 500
Market value$7.6B
Revenue growth (y/y)+3%
Free-cash-flow yield19.7%
Dividend yieldn/a
Next earnings (expected)2026-10-28
Valuation measures
Market value$7.6B
Enterprise value$11.1B
P/E (trailing)18.6x
Forward P/E (Torvanta estimate)15.9x
PEG (Torvanta estimate)0.91
Price / sales0.4x
Price / book3.0x
EV / revenue0.6x
EV / EBITDA5.3x
Financial highlights
Revenue, last 12 months$17.8B
Net income, last 12 months$425.9M
EPS, last 12 months (GAAP)$1.62
Operating margin5.7%
Net margin2.4%
Return on equity15.5%
Return on invested capital16.9%
Cash$2.5B
Total debt$6.1B
Debt / equity2.41x
Free cash flow, last 12 months$1.5B
Interest cover2.5x
Current ratio1.33x

Company figures from its latest SEC filings; market value and returns from end-of-day prices.

MGM earnings trends

Revenue vs earnings
-$285.3M$937.4M$2.2B$3.4B$4.6BSep 2024 Revenue: $4.2BDec 2024 Revenue: $4.3BMar 2025 Revenue: $4.3BJun 2025 Revenue: $4.4BSep 2025 Revenue: $4.3BDec 2025 Revenue: $4.6BMar 2026 Revenue: $4.5BJun 2026 Revenue: $4.5BSep 2024 Net income: $184.6MDec 2024 Net income: $157.4MMar 2025 Net income: $148.6MJun 2025 Net income: $49.0MSep 2025 Net income: -$285.3MDec 2025 Net income: $293.6MMar 2026 Net income: $125.1MJun 2026 Net income: $292.4MSep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Net margin: 4.4%Net margin: 3.6%Net margin: 3.5%Net margin: 1.1%Net margin: -6.7%Net margin: 6.4%Net margin: 2.8%Net margin: 6.6%-7%-0%7%■ Revenue ■ Net income ━ Net margin
Earnings per share$-1.1$-0.5$0.0$0.6$1.1Sep 2024 EPS (GAAP, diluted): $0.6Dec 2024 EPS (GAAP, diluted): $0.5Mar 2025 EPS (GAAP, diluted): $0.5Jun 2025 EPS (GAAP, diluted): $0.2Sep 2025 EPS (GAAP, diluted): $-1.1Dec 2025 EPS (GAAP, diluted): $1.1Mar 2026 EPS (GAAP, diluted): $0.5Jun 2026 EPS (GAAP, diluted): $1.1Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026■ EPS (GAAP, diluted) Change from a year earlier: Sep 2025 -272% · Dec 2025 +108% · Mar 2026 -6% · Jun 2026 +517%

From the company's 10-Q and 10-K filings with the SEC.

MGM Resorts financials (from SEC filings)

Fiscal yearFY2021FY2022FY2023FY2024FY2025
Revenue$9.7B$13.1B$16.2B$17.2B$17.5B
Net income$1.3B$1.5B$1.1B$746.6M$205.9M
EPS (GAAP)$2.46$3.39$3.16$2.40$0.72
Free cash flow$882.7M$1.0B$1.8B$1.2B$1.5B

MGM earnings history

ReportedEPS (GAAP)EPS y/yRevenue y/yStock vs S&P 500, 2 days
2026-07-29$1.11+517%+1%-1.3%
2026-04-29$0.48-6%+4%-3.0%
2026-02-05$1.08+108%+6%+0.9%
2026-02-04$1.08+108%+6%+7.9%
2025-10-29$-1.05-272%+2%-2.8%
2025-07-30$0.18-70%+2%-2.1%

About MGM Resorts

HeadquartersLas Vegas, NV
Industry (SEC code)Hotels & Motels
Fiscal year endsDecember 31
Incorporated inDE
Listed onNYSE
FormerlyMGM MIRAGE, MGM GRAND INC

From the company's SEC registration record.

Companies similar to MGM

CompanyMarket valueP/ERevenue growthOperating margin12-month change
MGM MGM Resorts$7.6B18.6x+3%5.7%-11%
KMX CarMax$7.8B34.3x-2%n/a+18%compare
WYNN Wynn Resorts$7.9B18.5x+6%15.7%-37%compare
NCLH Norwegian Cruise$6.8B9.2x+6%15.1%-39%compare
APTV Aptiv$9.1B41.4x-5%5.3%-50%
CZR Caesars$6.0Bn/a+2%15.9%+9%
DPZ Dominos Pizza$9.8B16.9x+5%19.5%-29%

All Consumer Discretionary stock ratings

Frequently asked questions

Is MGM stock a buy?

Torvanta does not tell individuals what to buy. Its grades for MGM are shown above. Subscribers see the model's rank, expected return and whether the model portfolio holds it. This is research, not a recommendation.

What is MGM's P/E ratio?

MGM trades at about 18.6 times its last 12 months of GAAP earnings reported to the SEC, and about 15.9 times Torvanta's own estimate of the next 12 months.

When does MGM report earnings next?

Based on its filing history, Torvanta expects MGM Resorts to report around 2026-10-28.

How has MGM performed against the S&P 500?

Over the past year MGM returned -11.1%, against +17.0% for the S&P 500, dividends reinvested.

See the model's view

Subscribers get the model's rank and expected return for every covered company, the reasoning behind each, and the Torvanta model portfolio's trades each trading day, sized and explained, at three risk levels.

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Torvanta is research only - not investment advice and not a recommendation to buy or sell any security. Grades describe a company's reported data against its sector; they are not the model's view, change as data changes and can be wrong. Financial figures come from the company's SEC filings; returns include reinvested dividends. Past performance does not predict future results.

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