MGM Resorts International (BSP:M1GM34) EBIT : R$9,706 Mil (TTM As of Dec. 2023)

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What is MGM Resorts International EBIT?

MGM Resorts International's earnings before interest and taxes (EBIT) for the three months ended in Dec. 2023 was R$2,092 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was R$9,706 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. MGM Resorts International's annualized ROC % for the quarter that ended in Dec. 2023 was 5.26%. MGM Resorts International's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 5.78%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. MGM Resorts International's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 4.32%.

MGM Resorts International EBIT Historical Data

The historical data trend for MGM Resorts International's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

MGM Resorts International EBIT Chart

MGM Resorts International Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

EBIT

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15,164.72

-4,296.33

12,787.97

7,861.56

9,471.59

MGM Resorts International Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
EBIT	Get a 7-Day Free Trial															540.57	4,041.68	1,915.42	1,656.91	2,092.06

Competitive Comparison of MGM Resorts International's EBIT

For the Resorts & Casinos subindustry, MGM Resorts International's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

MGM Resorts International's EV-to-EBIT Distribution in the Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, MGM Resorts International's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where MGM Resorts International's EV-to-EBIT falls into.

MGM Resorts International EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was R$9,706 Mil.

MGM Resorts International (BSP:M1GM34) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

MGM Resorts International's annualized ROC % for the quarter that ended in Dec. 2023 is calculated as:

	ROC % (Q: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	8242.404 * ( 1 - -18.6% )	/	( (184845.663	+	187018.035)	/ 2 )
=	9775.491144	/	185931.849
=	5.26 %

where

	Invested Capital		(Q: Sep. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	210252.603	-	14062.232	-	( 16378.507	-	max(0, 14628.77	-	25973.478	+	16378.507	))
=	184845.663

	Invested Capital		(Q: Dec. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	207597.411	-	11835.56	-	( 14345.796	-	max(0, 15317.108	-	24060.924	+	14345.796	))
=	187018.035

Note: The Operating Income data used here is four times the quarterly (Dec. 2023) data.

2. Joel Greenblatt's definition of Return on Capital:

MGM Resorts International's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	8368.252	/	( ( (145233.21 + max(-5256.495, 0))	+	(144431.449 + max(-5587.854, 0)) )	/	2 )
=	8368.252	/	( ( 145233.21	+	144431.449 )	/	2 )
=	8368.252	/	144832.3295
=	5.78 %

where Working Capital is:

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(4011.148	+	670.967	+	4123.622)	-	(14062.232	+	0	+	0)
=	-5256.495

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(4552.576	+	694.194	+	3775.311)	-	(11835.56	+	2774.375	+	0)
=	-5587.854

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

MGM Resorts International's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	9706.064	/	224522.482
	=	4.32 %

MGM Resorts International EBIT Related Terms

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MGM Resorts International (BSP:M1GM34) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Travel & Leisure » MGM Resorts International (BSP:M1GM34) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

MGM:USA MGM:Mexico MGG:Germany MGG:Germany

Address

3600 Las Vegas Boulevard South, Las Vegas, NV, USA, 89109

Website

https://www.mgmresorts.com

MGM Resorts is the largest resort operator on the Las Vegas Strip with 35,000 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 74% of total EBITDAR in 2022. MGM also owns U.S. regional assets, which represented 31% of 2022 EBITDAR (MGM's Macao EBITDAR was negative in 2022). MGM's U.S. sports and iGaming operations are currently a high-single-digit percentage of its total revenue. The company also operates the 56%-owned MGM China casinos with a new property that opened on the Cotai Strip in early 2018. Further, we estimate MGM will open a resort in Japan in 2030.

MGM Resorts International (BSP:M1GM34) Headlines

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