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MGM Resorts International (MGM) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

CONSUMER CYCLICAL · Casinos & Gaming · DATA UPDATED 2026-09-19

MGM Resorts International (MGM) operates in the Casinos & Gaming industry and is headquartered in Las Vegas, United States with about 60,000 employees. Its market capitalization is roughly $10 billion. In the fiscal year ended 2025-12-31, MGM reported $17.5B in revenue and $206M in net income.

MGM Resorts International, through its subsidiaries, operates as a gaming and entertainment company in the United States, China, and internationally. It operates through four segments: Las Vegas Strip Resorts, Regional Operations, MGM China, and MGM Digital.

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MGM Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$17.8B	$17.5B	$17.2B	$16.2B	$13.1B	$9.7B	$4.9B	$12.9B	$11.8B	$10.8B	$9.5B	$9.2B	$10.1B	$9.8B	$9.2B	$7.8B	$6.0B	$6.0B	$7.2B	$7.7B	$7.2B
Gross Profit	$7.8B	$7.8B	$7.8B	$7.6B	$6.5B	$4.7B	$1.7B	$5.3B	$4.8B	$4.6B	$4.0B	$3.6B	$3.7B	$3.6B	$3.2B	$2.8B	$2.3B	$2.4B	$3.1B	$3.6B	$3.4B
Gross Margin %	44.2%	44.4%	45.5%	47.1%	49.3%	48.0%	34.8%	41.1%	41.2%	42.6%	41.9%	38.8%	36.8%	36.2%	35.4%	36.0%	37.6%	40.8%	42.5%	46.2%	46.9%
Operating Income (EBIT)	$815M	$1.0B	$1.5B	$1.9B	$1.4B	$2.3B	($642M)	$3.9B	$1.5B	$1.7B	$2.1B	($156M)	$1.3B	$1.1B	$81M	$4.1B	($1.2B)	($964M)	($130M)	$2.9B	$1.8B
Operating Margin %	4.6%	5.7%	8.6%	11.7%	11.0%	23.5%	-13.1%	30.6%	12.5%	15.9%	22.0%	-1.7%	13.1%	11.3%	0.9%	51.7%	-19.2%	-16.1%	-1.8%	37.2%	24.5%
Net Income	$426M	$206M	$747M	$1.1B	$1.5B	$1.3B	($1.0B)	$2.0B	$467M	$2.0B	$1.1B	($448M)	($150M)	($157M)	($1.8B)	$3.1B	($1.4B)	($1.3B)	($855M)	$1.6B	$648M
Net Margin %	2.4%	1.2%	4.3%	7.1%	11.2%	13.0%	-21.0%	15.9%	4.0%	18.1%	11.7%	-4.9%	-1.5%	-1.6%	-19.3%	39.7%	-23.9%	-21.6%	-11.9%	20.6%	9.0%
EBITDA	—	$1.7B	$2.4B	$2.4B	$5.0B	$3.4B	($780M)	$5.0B	$2.5B	$2.6B	$2.8B	$571M	$2.1B	$2.0B	$310M	$4.7B	($469M)	($548M)	$719M	$3.6B	$2.4B
Earnings Per Share (EPS)	$1.65	$0.78	$2.41	$3.18	$3.57	$2.57	$-2.09	$3.88	$0.85	$3.37	$1.92	$-0.82	$-0.31	$-0.32	$-3.61	$5.55	$-3.19	$-3.41	$-3.06	$5.31	$2.22
Shares Outstanding (M)	—	265M	310M	359M	413M	487M	494M	528M	550M	579M	573M	543M	491M	490M	489M	561M	450M	379M	280M	298M	292M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MGM Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Total Revenue	$4.5B	$4.5B	$4.6B	$4.2B	$4.4B	$4.3B	$4.3B	$4.2B	$4.3B
Gross Profit	$2.0B	$2.0B	$2.0B	$1.8B	$2.0B	$2.0B	$2.0B	$1.9B	$2.0B
Gross Margin %	44.5%	44.7%	44.0%	43.4%	44.5%	45.8%	44.9%	44.6%	46.3%
Operating Income (EBIT)	$302M	$301M	$325M	($113M)	$405M	$385M	$292M	$315M	$426M
Operating Margin %	6.8%	6.8%	7.1%	-2.7%	9.2%	9.0%	6.7%	7.5%	9.8%
Net Income	$292M	$125M	$294M	($285M)	$49M	$149M	$157M	$185M	$187M
Net Margin %	6.6%	2.8%	6.4%	-6.7%	1.1%	3.5%	3.6%	4.4%	4.3%
EBITDA	—	$567M	$482M	$143M	$481M	$610M	$523M	$642M	$668M
Earnings Per Share (EPS)	$1.11	$0.48	$1.11	$-1.05	$0.18	$0.51	$0.53	$0.61	$0.59
Shares Outstanding (M)	—	259M	265M	273M	276M	289M	299M	303M	314M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MGM Free Cash Flow History

Cash flow	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	$2.6B	$2.7B	$2.4B	$2.7B	$1.8B	$1.4B	($1.5B)	$1.8B	$1.7B	$2.2B	$1.5B	$1.0B	$1.1B	$1.3B	$909M	$675M	$504M	$588M	$753M	$994M	$1.2B
Capital Expenditures (CapEx)	$968M	$1.1B	$1.2B	$932M	$765M	$491M	$271M	$739M	$1.5B	$1.9B	$2.3B	$1.5B	$957M	$562M	$423M	$301M	$207M	$137M	$782M	$2.9B	$1.9B
Free Cash Flow (FCF)	$1.7B	$1.7B	$1.2B	$1.8B	$1.0B	$883M	($1.8B)	$1.1B	$236M	$342M	($729M)	($462M)	$174M	$748M	$487M	$374M	$297M	$451M	($29M)	($1.9B)	($667M)
FCF Margin %	9.4%	9.5%	7.0%	10.9%	7.6%	9.1%	-35.9%	8.3%	2.0%	3.2%	-7.7%	-5.0%	1.7%	7.6%	5.3%	4.8%	4.9%	7.5%	-0.4%	-25.0%	-9.3%
Dividends Paid	—	—	$0M	$1M	$4M	$5M	$78M	$271M	$261M	$252M	$4.4B	$307M	$387M	$318M	$207M	$0M	$0M	—	$5.2B	$1.4B	$1.4B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MGM Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Cash from Operations (CFO)	$559M	$568M	$832M	$681M	$646M	$547M	$672M	$667M	$474M
Capital Expenditures (CapEx)	$241M	$155M	$296M	$276M	$268M	$228M	$404M	$336M	$238M
Free Cash Flow (FCF)	$317M	$413M	$536M	$405M	$377M	$319M	$268M	$331M	$236M
FCF Margin %	7.1%	9.3%	11.6%	9.5%	8.6%	7.5%	6.2%	7.9%	5.5%

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MGM Balance Sheet History

Balance sheet	2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$39.8B	$41.4B	$42.2B	$42.4B	$45.7B	$40.9B	$36.5B	$33.9B	$30.2B	$29.2B	$28.2B	$25.2B	$26.6B	$26.1B	$26.3B	$27.8B	$19.0B	$22.5B	$23.3B	$22.7B	$22.1B
Cash & Cash Equivalents	$2.5B	$2.1B	$2.4B	$2.9B	$5.9B	$4.7B	$5.1B	$2.3B	$1.5B	$1.5B	$1.4B	$1.7B	$1.7B	$1.8B	$1.5B	$1.9B	$499M	$2.1B	$296M	$416M	$453M
Total Liabilities	$36.5B	$38.1B	$38.5B	$38.0B	$40.3B	$29.8B	$25.2B	$21.1B	$19.6B	$17.5B	$18.1B	$17.4B	$19.0B	$18.2B	$18.2B	$17.9B	$16.0B	$18.6B	$19.3B	$16.7B	$18.3B
Total Debt (Short + Long-Term)	—	$6.2B	$6.7B	$6.5B	$8.8B	$12.9B	$13.1B	$11.8B	$15.1B	$12.9B	$13.0B	$12.7B	$14.2B	$13.8B	$13.8B	$13.7B	$12.0B	$14.1B	$13.5B	$11.2B	$13.0B
Total Shareholders' Equity	$2.5B	$2.4B	$3.0B	$3.8B	$4.8B	$6.1B	$6.5B	$7.7B	$6.5B	$7.6B	$6.2B	$5.1B	$4.1B	$7.9B	$8.1B	$6.1B	$3.0B	$3.9B	$4.0B	$6.1B	$3.9B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive MGM viewer.

MGM Metric Deep Dives

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