MGM Resorts International

MGM

Gambling, Resorts & Casinos · Consumer Cyclical

Also trades as: 0JWC.L

Price

$43.97

-0.17 (-0.37%)

Market Cap

$11.06B

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 12, 2026 · filings through Jun 30, 2026

Share count falling — buybacks

−45.7% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 487.4M (2021) → 264.9M (2025)

MGM Resorts International owns and operates hotels, casinos, and entertainment venues across the United States and in Macau, China. Its properties include well-known brands like Bellagio, MGM Grand, and Aria, which attract tourists, gamblers, and business travelers. MGM is one of the largest casino resort operators in the world by revenue and property count.

The company makes money through casino gambling, hotel room bookings, food and beverage sales, and live entertainment. Most of its revenue comes from Las Vegas, though its Macau joint ventures and its online sports betting platform, BetMGM, add meaningful diversification. BetMGM is a key growth driver as legal sports betting expands across more U.S. states, but MGM carries significant debt and its results are sensitive to consumer spending — meaning an economic slowdown could quickly pressure both casino traffic and hotel occupancy.

Winston Score History

Politician Trades

6 trades / 12mo

4 Congressional buys and 2 sells on MGM in the last 12 months.

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Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+1.0% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+522.2% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

27.5%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$3.2B cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

MGM Resorts International is growing revenue at 1% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

44.5%

Healthy — 44.5% gross margin

Operating Margin

11.3%

Modest — 11.3% operating margin

ROCE

5.9%

Weak — 5.9% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales YoY

+3.2%

Slow sales growth (+3.2% YoY)

EPS YoY

-8.7%

Earnings shrinking (-8.7% YoY)

Slight earnings drop. Typical near a cyclical low.

EPS Consistency

3/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

619%

Turns 619% of profit into real cash

FCF Margin

9.4%

Modest free cash flow (9.4%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity

2.41

Heavy debt load (2.41)

Interest Cover

2.49x

Tight — interest eats into profit (2.5x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

P/E Ratio (TTM)

26.3x

Growth-priced — P/E 26.3

P/E above the market average. People are paying up for expected growth.

P/E vs Forward

-0.4

SLOWING

Earnings expected to fall — forward P/E higher than today

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Dividends

Not applicable for this business.

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