MGM FINANCIAL STATEMENTS

MGM Resorts International — balance sheet, income statement and cash flow trends

MGMMGM Resorts International

🇺🇸 USA · US · Consumer Cyclical · Resorts & Casinos

Value it Duel

Income Statement

Quarterly progression — trailing-twelve-month values

RevenueNet Income

Profit Funnel

Q1 2026 · TTM

Percentages are relative to revenue.

Key Figures

YoY change

Revenue17.7 B $+3.4%

Gross Profit7.8 B $+0.5%

Operating Income918 M $-35.2%

EBITDA1.7 B $-31.5%

Net Income182.8 M $-73.0%

Peer Comparison· Resorts & Casinos

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
MGM	3.4%	44.2%	9.4%	1.0%
MG	0.9%	12.6%	9.6%	1.6%
CCL-B	4.3%	29.9%	21.2%	10.4%
ATZ	35.2%	44.5%	20.0%	10.3%
AMC	65.5%	18.5%	12.9%	3.1%
PAH3	—	82.5%	92.2%	96.8%
Industry median	3.4%	44.2%	25.1%	3.8%

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
MGM	3.4%	44.2%	9.4%	1.0%
WYNN	4.7%	38.7%	25.1%	5.1%
BYD	3.4%	39.5%	67.9%	44.8%
RRR	3.7%	57.1%	39.8%	9.2%
CZR	2.3%	43.9%	28.4%	-4.2%
MTN	-4.3%	55.5%	26.1%	6.3%
Industry median	3.4%	44.2%	25.1%	3.8%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q1 2026

Equity2.4 B $6%
Current Liabilities3.4 B $8%
Long-term Liabilities34.7 B $86%

Key Figures

YoY change

Total Assets41.4 B $-1.2%

Total Liabilities38.1 B $-0.6%

Total Equity2.4 B $-14.7%

Cash & ST Investments2.3 B $+1.0%

Total Debt31.3 B $-0.4%

Net Debt29 B $-0.5%

Peer Comparison· Resorts & Casinos

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
MGM	1.33	1,287.8%	17.35	5.9%
MG	1.22	56.2%	1.25	37.6%
CCL-B	1.39	42.3%	0.84	54.0%
ATZ	1.43	73.2%	0.55	43.4%
AMC	1.44	143.4%	5.28	31.0%
PAH3	15.30	—	—	84.2%
Industry median	0.98	115.3%	3.91	10.0%

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
MGM	1.33	1,287.8%	17.35	5.9%
WYNN	1.24	-5,740.6%	6.00	-1.6%
BYD	0.60	115.3%	0.92	38.3%
RRR	0.81	48.8%	-0.08	3.4%
CZR	0.85	729.7%	7.32	10.8%
MTN	0.91	590.4%	3.91	9.7%
Industry median	0.98	115.3%	3.91	10.0%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values

Operating Cash FlowCapital ExpendituresFree Cash Flow

Cash Flow Bridge

Q1 2026 · TTM

Key Figures

YoY change

Operating Cash Flow2.7 B $+15.6%

Capital Expenditures995.6 M $-17.5%

Free Cash Flow1.7 B $+50.1%

Dividends Paid——

Peer Comparison· Resorts & Casinos

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
MGM	15.4%	9.8%	5.6%	1,491.8%
MG	10.0%	6.6%	3.4%	628.8%
CCL-B	16.7%	11.2%	5.5%	161.0%
ATZ	22.2%	14.7%	7.5%	215.5%
AMC	7.5%	4.9%	3.4%	246.6%
PAH3	24.4%	17.9%	6.4%	25.2%
Industry median	15.4%	6.9%	6.6%	46.5%

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
MGM	15.4%	9.8%	5.6%	1,491.8%
WYNN	18.8%	9.5%	9.3%	365.9%
BYD	20.9%	6.9%	14.0%	46.5%
RRR	30.8%	29.6%	27.5%	334.6%
CZR	11.1%	4.3%	6.9%	-265.6%
MTN	16.8%	8.4%	8.4%	266.9%
Industry median	15.4%	6.9%	6.6%	46.5%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 6, 26. This content is for informational purposes only and is not investment advice.