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MGM Resorts Valuation Multiples
Discover revenue and EBITDA valuation multiples for MGM Resorts and similar public comparables like Indian Hotels, The Lottery Corporation, Wharf (Holdings), DraftKings and more.
MGM Resorts Overview
About MGM Resorts
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.
Founded
1986
HQ
Employees
78.0K
Website
Financials (LTM)
EV
$39B
MGM Resorts Financials
MGM Resorts reported last 12-month revenue of $18B and EBITDA of $2B.
In the same LTM period, MGM Resorts generated $2B in EBITDA and $295M in net income.
Revenue (LTM)
MGM Resorts P&L
In the most recent fiscal year, MGM Resorts reported revenue of $18B and EBITDA of $2B.
MGM Resorts expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $18B | XXX | $18B | XXX | XXX | XXX |
| Gross Profit | — | XXX | $8B | XXX | XXX | XXX |
| Gross Margin | — | XXX | 44% | XXX | XXX | XXX |
| EBITDA | $2B | XXX | $2B | XXX | XXX | XXX |
| EBITDA Margin | 14% | XXX | 14% | XXX | XXX | XXX |
| EBIT Margin | 6% | XXX | 8% | XXX | XXX | XXX |
| Net Profit | $295M | XXX | $206M | XXX | XXX | XXX |
| Net Margin | 2% | XXX | 1% | XXX | XXX | XXX |
| Net Debt | — | — | $4B | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
MGM Resorts Stock Performance
MGM Resorts has current market cap of $10B, and enterprise value of $39B.
Market Cap Evolution
MGM Resorts' stock price is $38.59.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $39B | $10B | 0.0% | XXX | XXX | XXX | $0.80 |
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Start Free TrialMGM Resorts Valuation Multiples
MGM Resorts trades at 2.2x EV/Revenue multiple, and 16.4x EV/EBITDA.
EV / Revenue (LTM)
MGM Resorts Financial Valuation Multiples
As of April 20, 2026, MGM Resorts has market cap of $10B and EV of $39B.
Equity research analysts estimate MGM Resorts' 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
MGM Resorts has a P/E ratio of 33.5x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $10B | XXX | $10B | XXX | XXX | XXX |
| EV (current) | $39B | XXX | $39B | XXX | XXX | XXX |
| EV/Revenue | 2.2x | XXX | 2.2x | XXX | XXX | XXX |
| EV/EBITDA | 16.4x | XXX | 16.4x | XXX | XXX | XXX |
| EV/EBIT | 34.9x | XXX | 29.3x | XXX | XXX | XXX |
| EV/Gross Profit | — | XXX | 5.0x | XXX | XXX | XXX |
| P/E | 33.5x | XXX | 48.0x | XXX | XXX | XXX |
| EV/FCF | 32.5x | XXX | 26.8x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified MGM Resorts Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
MGM Resorts Margins & Growth Rates
MGM Resorts' revenue in the last 12 month grew by 1%.
MGM Resorts' revenue per employee in the last FY averaged $0.2M, while opex per employee averaged $0.1M for the same period.
MGM Resorts' rule of 40 is 14% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
MGM Resorts' rule of X is 16% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
MGM Resorts Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 1% | XXX | 1% | XXX | XXX | XXX |
| EBITDA Margin | 14% | XXX | 14% | XXX | XXX | XXX |
| EBITDA Growth | 3% | XXX | 1% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 14% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 16% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.2M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.1M | XXX | XXX | XXX |
| G&A Expenses to Revenue | — | XXX | 28% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 37% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
MGM Resorts Public Comps
See public comps and valuation multiples for other Casinos & Gambling and Accommodation comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| MGM Resorts | XXX | XXX | XXX | XXX | XXX | XXX |
| Indian Hotels | XXX | XXX | XXX | XXX | XXX | XXX |
| The Lottery Corporation | XXX | XXX | XXX | XXX | XXX | XXX |
| Wharf (Holdings) | XXX | XXX | XXX | XXX | XXX | XXX |
| DraftKings | XXX | XXX | XXX | XXX | XXX | XXX |
| Wynn Resorts | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
MGM Resorts M&A Activity
MGM Resorts acquired XXX companies to date.
Last acquisition by MGM Resorts was on XXXXXXXX, XXXXX. MGM Resorts acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by MGM Resorts
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialMGM Resorts Investment Activity
MGM Resorts invested in XXX companies to date.
MGM Resorts made its latest investment on XXXXXXXX, XXXXX. MGM Resorts invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by MGM Resorts
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout MGM Resorts
| When was MGM Resorts founded? | MGM Resorts was founded in 1986. |
| Where is MGM Resorts headquartered? | MGM Resorts is headquartered in United States. |
| How many employees does MGM Resorts have? | As of today, MGM Resorts has over 78K employees. |
| Who is the CEO of MGM Resorts? | MGM Resorts' CEO is William Joseph Hornbuckle. |
| Is MGM Resorts publicly listed? | Yes, MGM Resorts is a public company listed on NYSE. |
| What is the stock symbol of MGM Resorts? | MGM Resorts trades under MGM ticker. |
| When did MGM Resorts go public? | MGM Resorts went public in 1997. |
| Who are competitors of MGM Resorts? | MGM Resorts main competitors are Indian Hotels, The Lottery Corporation, Wharf (Holdings), DraftKings. |
| What is the current market cap of MGM Resorts? | MGM Resorts' current market cap is $10B. |
| What is the current revenue of MGM Resorts? | MGM Resorts' last 12 months revenue is $18B. |
| What is the current revenue growth of MGM Resorts? | MGM Resorts revenue growth (NTM/LTM) is 1%. |
| What is the current EV/Revenue multiple of MGM Resorts? | Current revenue multiple of MGM Resorts is 2.2x. |
| Is MGM Resorts profitable? | Yes, MGM Resorts is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of MGM Resorts? | MGM Resorts' last 12 months EBITDA is $2B. |
| What is MGM Resorts' EBITDA margin? | MGM Resorts' last 12 months EBITDA margin is 14%. |
| What is the current EV/EBITDA multiple of MGM Resorts? | Current EBITDA multiple of MGM Resorts is 16.4x. |
| What is the current FCF of MGM Resorts? | MGM Resorts' last 12 months FCF is $1B. |
| What is MGM Resorts' FCF margin? | MGM Resorts' last 12 months FCF margin is 7%. |
| What is the current EV/FCF multiple of MGM Resorts? | Current FCF multiple of MGM Resorts is 32.5x. |
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