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MGM China HoldingsFRA:M04 73 Debt-to-EBITDA is 2.13 as of Dec. 2025, which is 29% below its 10-year median of 3.02. GuruFocus rates FRA:M04 with a GF Score™ of 73/100 and a GF Value™ of €1.86 (Significantly Undervalued). The stock has 3 warning signs investors should review. Among 653 Travel & Leisure companies, MGM China Holdings ranks better than 53.45% on this metric.
Debt-to-EBITDA measures a company's ability to pay off its debt.
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt. According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
The historical rank and industry rank for MGM China Holdings's Debt-to-EBITDA or its related term are showing as below:
FRA:M04'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: -60.33 Med: 3.02 Max: 5.49
Current: 2.25
During the past 13 years, the highest Debt-to-EBITDA Ratio of MGM China Holdings was 5.49. The lowest was -60.33. And the median was 3.02.
FRA:M04's Debt-to-EBITDA is ranked better than 53.45% of 653
companies
in the Travel & Leisure industry
Industry Median: 2.53
vs FRA:M04: 2.25
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt.
According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
MGM China Holdings Debt-to-EBITDA Related Terms
MGM China Holdings Debt-to-EBITDA Historical Data
* Premium members only.
The historical data trend for MGM China Holdings's Debt-to-EBITDA 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.
FRA:M04 vs LVS, MGM, WYNN: Debt-to-EBITDA Comparison
For the Resorts & Casinos subindustry, MGM China Holdings's Debt-to-EBITDA, along with its competitors' market caps and Debt-to-EBITDA 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 China Holdings Debt-to-EBITDA vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, MGM China Holdings's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where MGM China Holdings's Debt-to-EBITDA falls into.
* 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.
In the calculation of annual Debt-to-EBITDA, the EBITDA of the last fiscal year is used. In calculating the annualized quarterly data,
the EBITDA data used here is two times the quarterly (Dec. 2025) EBITDA data.
MGM China Holdings (FRA:M04) has a Debt-to-EBITDA of 2.13 as of Dec. 2025. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on MGM China Holdings. This is 29% below median its historical median of 3.02. According to the industry distribution chart, MGM China Holdings ranks #304 out of 653 companies in the Travel & Leisure industry, placing it in the top 46.6%.
Is MGM China Holdings' Debt-to-EBITDA too high?
MGM China Holdings' current Debt-to-EBITDA of 2.13 is 29% below median its 10-year median of 3.02. The Travel & Leisure industry median Debt-to-EBITDA is 2.53. MGM China Holdings' value of 2.13 is 15.8% below this industry median. Based on the distribution chart, MGM China Holdings ranks #304 out of 653 companies in the Travel & Leisure industry, which is above the industry midpoint. Overall, MGM China Holdings has a GF Score™ of 73/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does MGM China Holdings' Debt-to-EBITDA compare to LVS and MGM?
According to the Travel & Leisure industry distribution chart, MGM China Holdings ranks #304 out of 653 companies for Debt-to-EBITDA. This puts MGM China Holdings in the upper half of its industry. The industry median Debt-to-EBITDA is 2.53. MGM China Holdings' value of 2.13 is 15.8% below this benchmark. While the company's 10-year median is 3.02 vs. the industry median of 2.53, MGM China Holdings has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-EBITDA for a Travel & Leisure company?
The median Debt-to-EBITDA among Travel & Leisure companies is 2.53, based on 653 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. MGM China Holdings's current Debt-to-EBITDA of 2.13 is 15.8% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-EBITDA mean?
A high Debt-to-EBITDA can signal that a stock is expensive relative to its fundamentals. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on MGM China Holdings. For the Travel & Leisure industry, the median Debt-to-EBITDA is 2.53 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. MGM China Holdings's current Debt-to-EBITDA is 2.13, which is 29% below median its own 10-year median of 3.02. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is MGM China Holdings stock overvalued right now?
Based on GuruFocus' analysis, MGM China Holdings (FRA:M04) is currently considered Significantly Undervalued. The stock's GF Value™ is €1.86, compared to a current price of €1.20 — trading 35.5% below its estimated fair value. The current Debt-to-EBITDA is 2.13, which is 29% below median its 10-year median of 3.02 and 15.8% below the Travel & Leisure industry median of 2.53. MGM China Holdings' overall GF Score™ is 73/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-EBITDA calculated?
Debt-to-EBITDA is calculated from a company's financial statements. For MGM China Holdings (FRA:M04), the current Debt-to-EBITDA is 2.13 as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is MGM China Holdings (FRA:M04) Overvalued in 2026?
Based on GuruFocus' analysis, MGM China Holdings stock appears to be undervalued.
The current stock price of €1.20 is trading 35.5% below its estimated GF Value™ of €1.86.
GuruFocus considers MGM China Holdings to be Significantly Undervalued.
Key valuation signals for FRA:M04:
Debt-to-EBITDA: 2.13 (29% below median its 10-year median of 3.02)
GF Value™: €1.86 vs. price of €1.20 (35.5% below fair value)
Industry Position: 15.8% below the Travel & Leisure median (#304 of 653)
No single metric tells the full story. See the FRA:M04 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
MGM China is one of six casino license holders in Macao. It operates two integrated resorts: the MGM Macau in the Peninsula and MGM Cotai in Cotai. The company is allowed to operate 750 gaming tables during its new 10-year concession period of 2023-32.
73GF Score
Get the complete analysis for FRA:M04
Debt-to-EBITDA is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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