financial statements

The full income statement, balance sheet, and cash-flow statement for MGM Resorts International (MGM), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

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PeriodRangeOrderChangeYoYQoQAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	17.5B YoY+1.7%	17.2B YoY+6.7%	16.2B YoY+23.1%	13.1B YoY+35.6%	9.68B YoY+87.5%
Selling, general & administrative	4.88B YoY+1.1%	4.83B YoY+2.7%	4.70B YoY+11.2%	4.23B YoY+68.6%	2.51B YoY+18.1%
Restructuring	—	—	—	0.00	0.00 YoY-100.0%
Amortization of intangibles	139M YoY+16.8%	119M YoY+15.5%	103M YoY-96.2%	2.70B YoY+1270.6%	197M YoY+1.5%
Provision for credit losses	61.1M YoY+0.1%	61.1M YoY+24.7%	49.0M YoY+115.4%	22.7M YoY+4.1%	21.9M YoY-69.4%
Operating income	1.00B YoY-32.8%	1.49B YoY-21.2%	1.89B YoY+31.4%	1.44B YoY-36.8%	2.28B YoY+454.7%
Interest expense	419M YoY-5.5%	443M YoY-3.7%	460M YoY-22.6%	595M YoY-25.6%	800M YoY+18.2%
Other non-operating income	-303M YoY-529.5%	70.6M YoY+65.7%	42.6M YoY-48.6%	82.8M YoY+25.6%	65.9M YoY+173.8%
Equity-method income	71.1M YoY+177.8%	-91.4M YoY-44.7%	-63.1M YoY+65.6%	-184M YoY-11724.7%	1.58M YoY+102.6%
Pre-tax income	281M YoY-74.9%	1.12B YoY-24.2%	1.47B YoY+63.0%	904M YoY-38.2%	1.46B YoY+196.7%
Income tax	-240M YoY-557.7%	52.5M YoY-66.8%	158M YoY-77.4%	697M YoY+175.1%	253M YoY+232.3%
	206M YoY-72.4%	747M YoY-34.6%	1.14B YoY-22.5%	1.47B YoY+17.4%	1.25B YoY+221.5%
Net income to non-controlling interest	315M YoY-1.0%	318M YoY+84.1%	173M YoY+113.6%	-1.27B YoY-2654.1%	-46.0M YoY+84.0%
Net income to common	211M YoY-71.6%	744M YoY-35.0%	1.14B YoY-20.6%	1.44B YoY+22.5%	1.18B YoY+217.9%
	$0.76 YoY-68.3%	$2.40 YoY-24.8%	$3.19 YoY-8.6%	$3.49 YoY+44.8%	$2.41 YoY+219.3%
EPS (basic)	$0.77 YoY-68.2%	$2.42 YoY-24.8%	$3.22 YoY-8.5%	$3.52 YoY+44.3%	$2.44 YoY+220.8%
Weighted-avg shares (basic)	275M YoY-10.5%	307M YoY-13.4%	355M YoY-13.3%	409M YoY-15.1%	482M YoY-2.5%
Weighted-avg shares (diluted)	277M YoY-10.6%	310M YoY-13.5%	359M YoY-13.2%	413M YoY-15.3%	487M YoY-1.4%
Dividends per share	—	—	—	$0.01 YoY+0.0%	$0.01 YoY-93.7%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	4.33B YoY-0.7%	4.36B YoY-11.1%	4.91B YoY-39.8%	8.15B YoY+27.1%	6.42B YoY+7.8%
Cash & equivalents	2.06B YoY-14.6%	2.42B YoY-17.5%	2.93B YoY-50.5%	5.91B YoY+25.7%	4.70B YoY-7.8%
Accounts receivable	1.12B YoY+4.8%	1.07B YoY+15.3%	929M YoY+9.0%	852M YoY+45.9%	584M YoY+84.5%
Inventory	125M YoY-11.4%	141M YoY-0.8%	142M YoY+12.4%	126M YoY+30.8%	96.4M YoY+9.1%
Prepaid expenses	486M YoY+1.6%	479M YoY-37.9%	771M YoY+32.1%	583M YoY+125.2%	259M YoY+29.0%
	41.4B YoY-2.0%	42.2B YoY-0.3%	42.4B YoY-7.3%	45.7B YoY+11.7%	40.9B YoY+12.1%
Property, plant & equipment	6.28B YoY+1.4%	6.20B YoY+13.7%	5.45B YoY+4.3%	5.22B YoY-63.8%	14.4B YoY-1.3%
Operating lease right-of-use	23.0B YoY-2.3%	23.5B YoY-2.1%	24.0B YoY-2.1%	24.5B YoY+113.4%	11.5B YoY+38.7%
Goodwill	4.90B YoY-4.7%	5.15B YoY-0.4%	5.17B YoY+2.7%	5.03B YoY+44.5%	3.48B YoY+66.5%
Intangible assets	1.36B YoY-20.9%	1.72B YoY-0.5%	1.72B YoY+11.2%	1.55B YoY-57.1%	3.62B YoY-0.8%
Deferred tax assets	89.8M YoY+126.8%	39.6M	0.00	—	—
Other non-current assets	849M YoY-1.2%	859M YoY+1.1%	850M YoY-17.4%	1.03B YoY+109.9%	490M YoY+10.6%
Total non-current assets	9.20B YoY+0.0%	9.20B YoY+0.0%	9.20B YoY+0.0%	9.20B YoY+0.0%	9.20B YoY+0.0%
	3.51B YoY+4.8%	3.35B YoY+7.2%	3.13B YoY-30.8%	4.52B YoY+31.2%	3.44B YoY+85.4%
Accounts payable	422M YoY+2.1%	413M YoY-10.6%	462M YoY+24.9%	370M YoY+29.2%	286M YoY+100.8%
Accrued liabilities	14.0M YoY+0.0%	14.0M YoY+0.0%	14.0M YoY+0.0%	14.0M YoY+0.0%	14.0M YoY+0.0%
Short-term & current debt	675M YoY+0.0%	675M	0.00 YoY-100.0%	1.29B YoY+28.6%	1.00B
Current lease liability	106M YoY+8.1%	98.0M YoY+30.7%	75.0M YoY+38.9%	54.0M YoY+70.3%	31.7M YoY-0.4%
Other current liabilities	2.99B YoY+4.3%	2.87B YoY+10.2%	2.60B YoY+16.4%	2.24B YoY+12.7%	1.98B YoY+28.4%
	38.1B YoY-1.1%	38.5B YoY+1.3%	38.0B YoY+80.0%	21.1B YoY+0.0%	21.1B YoY+0.0%
Long-term debt	6.23B YoY-2.1%	6.36B YoY+0.3%	6.34B YoY-14.7%	7.43B YoY-36.9%	11.8B YoY-4.9%
Non-current lease liability	25.0B YoY-0.5%	25.1B YoY-0.2%	25.1B YoY-0.1%	25.1B YoY+113.1%	11.8B YoY+40.7%
Deferred tax liabilities	2.62B YoY-6.9%	2.81B YoY-1.7%	2.86B YoY-3.7%	2.97B YoY+21.7%	2.44B YoY+13.3%
Other non-current liabilities	775M YoY-14.8%	910M YoY+67.7%	543M YoY+111.8%	256M YoY-19.9%	320M YoY-93.1%
	2.43B YoY-19.6%	3.02B YoY-20.7%	3.81B YoY-21.1%	4.83B YoY-20.4%	6.07B YoY-6.7%
Common stock	2.58M YoY-12.3%	2.94M YoY-9.9%	3.27M YoY-13.8%	3.79M YoY-16.5%	4.54M YoY-8.2%
Additional paid-in capital	0.00	0.00	0.00	0.00 YoY-100.0%	1.75B YoY-49.1%
Retained earnings	2.11B YoY-31.6%	3.08B YoY-15.9%	3.66B YoY-23.6%	4.79B YoY+10.5%	4.34B YoY+40.4%
Accumulated other comprehensive income	320M YoY+623.6%	-61.2M YoY-142.5%	144M YoY+329.6%	33.5M YoY+236.1%	-24.6M YoY+19.8%
Non-controlling interest	825M YoY+24.6%	662M YoY+26.5%	523M YoY+38.1%	379M YoY-92.3%	4.91B YoY+4.9%
Total equity incl. non-controlling	3.25B YoY-11.7%	3.69B YoY-15.0%	4.33B YoY-16.8%	5.21B YoY-52.5%	11.0B YoY-1.8%
Total liabilities & equity	41.4B YoY-2.0%	42.2B YoY-0.3%	42.4B YoY-7.3%	45.7B YoY+11.7%	40.9B YoY+12.1%
Common shares issued	258M YoY-12.2%	294M YoY-9.9%	327M YoY-13.9%	379M YoY-16.5%	454M YoY-8.2%
Common shares outstanding	258M YoY-12.2%	294M YoY-9.9%	327M YoY-13.9%	379M YoY-16.5%	454M YoY-8.2%
Shares outstanding (cover)	274M YoY-8.1%	298M YoY-12.8%	342M YoY-11.1%	384M YoY-18.1%	469M YoY-5.1%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	2.53B YoY+7.1%	2.36B YoY-12.2%	2.69B YoY+53.2%	1.76B YoY+27.9%	1.37B YoY+192.0%
Depreciation & amortization	1.02B YoY+22.5%	831M YoY+2.1%	814M YoY-76.6%	3.48B YoY+202.6%	1.15B YoY-5.0%
Share-based compensation	90.5M YoY+12.8%	80.2M YoY+9.0%	73.6M YoY+3.2%	71.3M YoY+9.4%	65.2M YoY-39.1%
Deferred income taxes	-246M YoY-188.5%	-85.1M YoY+27.4%	-117M YoY-123.6%	496M YoY+105.1%	242M YoY+1218.7%
Change in receivables	90.1M YoY-42.8%	158M YoY+19.2%	132M YoY-37.5%	212M YoY-10.4%	236M YoY+124.6%
Change in inventory	-15.7M YoY-1129.7%	-1.27M YoY-108.2%	15.5M YoY-41.7%	26.6M YoY+957.0%	-3.11M YoY+78.9%
Other operating activities	-7.81M YoY-106.3%	124M YoY+216.6%	39.2M YoY+214.9%	-34.1M YoY+75.3%	-138M YoY-183.5%
	-1.14B YoY+11.1%	-1.28B YoY-79.7%	-714M YoY-133.7%	2.12B YoY+37.2%	1.54B YoY-28.5%
Capital expenditure	1.07B YoY-7.1%	1.15B YoY+23.5%	932M YoY+21.8%	765M YoY+55.9%	491M YoY+81.4%
Acquisitions	0.00 YoY-100.0%	114M YoY-6.7%	122M YoY-93.5%	1.89B YoY+5.6%	1.79B
Proceeds from sale of PP&E	7.11M YoY-46.0%	13.2M YoY+142.7%	5.43M YoY-95.2%	112M YoY+5.1%	107M YoY+1637.3%
Other investing activities	48.5M YoY+132.8%	-148M YoY-217.4%	126M YoY-75.9%	523M YoY+1235.0%	-46.1M YoY-5181.8%
	-1.73B YoY-10.7%	-1.56B YoY+68.7%	-5.00B YoY-65.5%	-3.02B YoY-7.5%	-2.81B YoY-233.8%
Long-term debt issued	354M YoY-83.2%	2.10B	0.00	0.00 YoY-100.0%	750M YoY-78.9%
Long-term debt repaid	500M YoY-77.0%	2.17B YoY+69.2%	1.29B YoY+20.1%	1.07B	0.00 YoY-100.0%
Common stock repurchased	1.23B YoY-9.5%	1.36B YoY-40.8%	2.29B YoY-17.4%	2.78B YoY+58.3%	1.75B YoY+395.7%
Dividends paid	—	0.00	0.00 YoY-100.0%	4.05M YoY-15.5%	4.79M YoY-93.8%
Other financing activities	-153M YoY-1616.4%	-8.92M YoY+93.2%	-131M YoY-18.3%	-111M YoY+30.4%	-159M YoY-195.3%
FX effect on cash	4.41M YoY+116.4%	-26.9M YoY-38.6%	-19.4M YoY-317.4%	8.93M YoY+675.5%	-1.55M YoY-166.1%
Net change in cash	-353M YoY+31.1%	-512M YoY+83.1%	-3.02B YoY-462.6%	833M YoY+721.6%	101M YoY-96.3%
Interest paid	389M YoY-4.2%	406M YoY-10.2%	452M YoY-21.2%	574M YoY-18.7%	706M YoY+10.3%
Income taxes paid	-34.6M YoY-113.0%	267M YoY-22.4%	344M YoY+1398.6%	23.0M YoY-46.6%	43.0M YoY+403.5%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	9.98B YoY-3.3%	10.3B YoY-32.4%	15.3B YoY+18.5%	12.9B YoY-38.8%	21.0B YoY+35.2%
P/E	48.5× YoY+250.8%	13.8× YoY-1.9%	14.1× YoY+41.1%	10.0× YoY-40.5%	16.8×
P/S	0.6× YoY-4.9%	0.6× YoY-41.3%	1.0× YoY-2.6%	1.0× YoY-51.9%	2.2× YoY-27.9%
P/B	4.1× YoY+20.4%	3.4× YoY-13.7%	4.0× YoY+45.2%	2.7× YoY-21.5%	3.5× YoY+44.9%
P/FCF	6.8× YoY-19.7%	8.5× YoY-19.3%	10.5× YoY-4.4%	11.0× YoY-53.7%	23.8×
Earnings yield	2.1% YoY-71.5%	7.2% YoY+2.0%	7.1% YoY-29.1%	10.0% YoY+68.0%	6.0%
FCF yield	14.6% YoY+24.6%	11.7% YoY+23.9%	9.5% YoY+4.6%	9.1% YoY+116.1%	4.2%
Dividend yield	—	—	—	0.0% YoY+33.9%	0.0% YoY-95.5%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: MGM's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all MGM filings on SEC EDGAR → Not investment advice.

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About this data

financial statements