MGM Resorts International (LTS:0JWC) ROCE % : 4.21% (As of Sep. 2024)

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What is MGM Resorts International ROCE %?

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. MGM Resorts International's annualized ROCE % for the quarter that ended in Sep. 2024 was 4.21%.

MGM Resorts International ROCE % Historical Data

The historical data trend for MGM Resorts International's ROCE % 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.

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MGM Resorts International ROCE % Chart

MGM Resorts International Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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12.75

-2.56

6.27

3.81

4.81

MGM Resorts International Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
ROCE %	Get a 7-Day Free Trial															3.36	4.33	4.63	3.95	4.21

MGM Resorts International ROCE % Calculation

MGM Resorts International's annualized ROCE % for the fiscal year that ended in Dec. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	1933.056	/	( ( (45692.206 - 4515.892)	+	(42368.548 - 3126.068) )	/ 2 )
	=	1933.056	/	( (41176.314	+	39242.48)	/ 2 )
	=	1933.056	/	40209.397
	=	4.81 %

MGM Resorts International's ROCE % of for the quarter that ended in Sep. 2024 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Sep. 2024 )		(Q: Jun. 2024 )		(Q: Sep. 2024 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Sep. 2024 )		(Q: Jun. 2024 )		(Q: Sep. 2024 )
	=	1634.428	/	( ( (41815.461 - 3000.173)	+	(42740.953 - 3886.758) )	/ 2 )
	=	1634.428	/	( ( 38815.288	+	38854.195 )	/ 2 )
	=	1634.428	/	38834.7415
	=	4.21 %

(1) Note: The EBIT data used here is four times the quarterly (Sep. 2024) EBIT data.

MGM Resorts International (LTS:0JWC) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

MGM Resorts International ROCE % Related Terms

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MGM Resorts International Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Travel & Leisure » MGM Resorts International (LTS:0JWC) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

MGM:USA 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 62% of total EBITDAR in 2023. MGM also owns US regional assets, which represented a low 20s share of 2023 EBITDAR (MGM's Macao EBITDAR was 17% of the total in 2023). MGM's US sports and i-gaming 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. We estimate MGM will open a resort in Japan in 2030.

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