MGM Resorts International (MGM Resorts International) Total Inventories

: $142 Mil (As of Dec. 2023)

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MGM Resorts International's total inventories for the quarter that ended in Dec. 2023 was $142 Mil. MGM Resorts International's average total inventories from the quarter that ended in Sep. 2023 to the quarter that ended in Dec. 2023 was $139 Mil.

In Ben Graham's calculation of Net-Net Working Capital, inventory is only considered worth half of its book value. MGM Resorts International's Net-Net Working Capital per share for the quarter that ended in Dec. 2023 was $-106.76.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. MGM Resorts International's Days Inventory for the three months ended in Dec. 2023 was 5.33.

Inventory Turnover measures how fast the company turns over its inventory within a year. MGM Resorts International's Inventory Turnover for the quarter that ended in Dec. 2023 was 17.12.

Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue. MGM Resorts International's Inventory-to-Revenue for the quarter that ended in Dec. 2023 was 0.03.

MGM Resorts International Total Inventories Historical Data

The historical data trend for MGM Resorts International's Total Inventories 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 Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Total Inventories

102.89

88.32

96.37

126.07

141.68

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
Total Inventories																126.07	128.73	130.89	135.86	141.68

MGM Resorts International Total Inventories Calculation

Total Inventories includes the raw materials, work-in-process goods and completely finished goods of a company. It is a portion of a company's current assets.

MGM Resorts International (NYSE:MGM) Total Inventories Explanation

Inventory control is an important part of business operation. If a company does not have enough inventory, it may not be able to meet customers' required delivery time. If it has too much inventory, the cost of holding the inventory can be high.

1. In Ben Graham's calculation of Net-Net Working Capital (NNWC), inventory is only considered worth half of its book value.

MGM Resorts International's Net-Net Working Capital Per Share for the quarter that ended in Dec. 2023 is

	Net-Net Working Capital Per Share (Q: Dec. 2023 )
=	(Cash And Cash Equivalents	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(2927.833	+	0.75 * 929.135	+	0.5 * 141.678	-	38001.047
-	0	-	556.331)	/	326.55
=	-106.76

2. Days Inventory indicates the number of days of goods in sales that a company has in the inventory.

MGM Resorts International's Days Inventory for the three months ended in Dec. 2023 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Dec. 2023 )	/	Cost of Goods Sold (Q: Dec. 2023 )	*	Days in Period
	=	138.7685	/	2375.375	*	365 / 4
	=	5.33

3. Inventory Turnover measures how fast the company turns over its inventory within a year.

MGM Resorts International's Inventory Turnover for the quarter that ended in Dec. 2023 is calculated as

Inventory Turnover	=	Cost of Goods Sold (Q: Dec. 2023 )	/	Average Total Inventories (Q: Dec. 2023 )
	=	2375.375	/	138.7685
	=	17.12

4. Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue.

MGM Resorts International's Inventory to Revenue for the quarter that ended in Dec. 2023 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Dec. 2023 )	/	Revenue (Q: Dec. 2023 )
	=	138.7685	/	4375.563
	=	0.03

Be Aware

Manufacturers with durable competitive advantages have the advantage that the products they sell do not change, and therefore will never become obsolete. Buffett likes this advantage.

When identifying manufacturers with durable competitive advantage, look for inventory and net earnings that rise correspondingly. This indicates that the company is finding profitable ways to increase sales which called for an increase in inventory.

Manufacturers with inventories that spike up and down are indicative of competitive industries subject to boom and bust.

MGM Resorts International Total Inventories Related Terms

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MGM Resorts International (MGM Resorts International) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Travel & Leisure » MGM Resorts International (NYSE:MGM) » Definitions » Total Inventories

Comparable Companies

Traded in Other Exchanges

MGM:Mexico MGG:Germany MGG:Germany M1GM34:Brazil

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.

Executives

John Mcmanus	officer: SVP ASST GEN COUNSEL ASST SCY	3600 LAS VEGAS BLVD, S., EXECUTIVE OFFICES, LAS VEGAS NV 89119
Sanders Corey Ian	officer: COO Core Brands	3950 LAS VEGAS BLVD., S., LAS VEGAS NV 89119
Daniel J Taylor	director	3600 LAS VEGAS BLVD., S., LAS VEGAS NV 89109
Keith A. Meister	director	C/O ICAHN CAPITAL LP, 767 FIFTH AVENUE, SUITE 4700, NEW YORK NY 10153
Alexis Herman	director	3950 LAS VEGAS BLVD. S., LAS VEGAS NV 89119
Ben Winston	director	3600 LAS VEGAS BLVD. SOUTH, LAS VEGAS NV 89109
Rose Mckinney-james	director	3950 LAS VEGAS BLVD. S., LAS VEGAS NV 89119
William Hornbuckle	officer: Chief Marketing Officer	3600 LAS VEGAS BOULEVARD SOUTH, LAS VEGAS NV 89109
Mary Christine Gay	director	3600 LAS VEGAS BOULEVARD SOUTH, LAS VEGAS NV 89109
Gary M Fritz	officer: President, Interactive	C/O EXPEDIA INC., 333 108TH AVENUE NE, BELLEVUE WA 98004
Janet Swartz	director	3600 LAS VEGAS BOULEVARD SOUTH, LAS VEGAS NV 89109
Ac/interactivecorp	10 percent owner	555 WEST 18TH STREET, NEW YORK NY 10011
Paul J Salem	director	50 KENNEDY PLAZA, 18TH FLOOR, PROVIDENCE RI 02903
Todd Meinert	officer: SVP Financial Reporting	3600 LAS VEGAS BLVD. SOUTH, LAS VEGAS NV 89109
Tilak Mandadi	officer: CSITO	3600 LAS VEGAS BLVD. SOUTH, LAS VEGAS NV 89109