MGM Resorts International (FRA:MGG) Scaled Net Operating Assets: 0.79 (As of Mar. 2026)


FRA:MGG MGM Resorts International FRA:MGG
80 GF Score
Price €43.35
GF Value €40.64
Valuation Fairly Valued
! 10 Warning Signs
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What is MGM Resorts International Scaled Net Operating Assets?

MGM Resorts International FRA:MGG +2.48% 80 Scaled Net Operating Assets is 0.79 as of Mar. 2026. GuruFocus rates FRA:MGG with a GF Score™ of 80/100 and a GF Value™ of €40.64 (Fairly Valued). The stock has 10 warning signs investors should review.

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

MGM Resorts International's operating assets for the quarter that ended in Mar. 2026 was €33,830 Mil. MGM Resorts International's operating liabilities for the quarter that ended in Mar. 2026 was €5,825 Mil. MGM Resorts International's Total Assets for the quarter that ended in Dec. 2025 was €35,333 Mil. Therefore, MGM Resorts International's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.79.


MGM Resorts International Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for MGM Resorts International's Scaled Net Operating Assets 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.

MGM Resorts International Scaled Net Operating Assets Chart

MGM Resorts International Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Scaled Net Operating Assets
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.92 0.87 0.70 0.81 0.69

MGM Resorts International Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Scaled Net Operating Assets Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.75 0.74 0.77 0.79 0.79

FRA:MGG vs WYNN, BYD, CZR: Scaled Net Operating Assets Comparison

For the Resorts & Casinos subindustry, MGM Resorts International's Scaled Net Operating Assets, along with its competitors' market caps and Scaled Net Operating Assets 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 Scaled Net Operating Assets vs Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, MGM Resorts International's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where MGM Resorts International's Scaled Net Operating Assets falls into.


FRA:MGG
80GF Score
MGM Resorts International FRA:MGG
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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MGM Resorts International Scaled Net Operating Assets Calculation

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

MGM Resorts International's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Dec. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Dec. 2025 )
=(Operating Assets (A: Dec. 2025 )-Operating Liabilities (A: Dec. 2025 ))/Total Assets (A: Dec. 2024 )
=(33571.416-5740.304)/40331.204
=0.69

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=35333.213 - 1761.797
=33571.416

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=32535.238 - 26638.722 - 156.212
=5740.304

MGM Resorts International's Scaled Net Operating Assets (SNOA) for the quarter that ended in Mar. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Mar. 2026 )
=(Operating Assets (Q: Mar. 2026 )-Operating Liabilities (Q: Mar. 2026 ))/Total Assets (Q: Dec. 2025 )
=(33829.569-5824.675)/35333.213
=0.79

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=35812.867 - 1983.298
=33829.569

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=32930.683 - 27106.008 - 0
=5824.675

* 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.

What does a Scaled Net Operating Assets of 0.79 mean?
MGM Resorts International (FRA:MGG) has a Scaled Net Operating Assets of 0.79 as of Mar. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on MGM Resorts International and its competitors.
Is MGM Resorts International's Scaled Net Operating Assets too high?
MGM Resorts International's current Scaled Net Operating Assets is 0.79. Overall, MGM Resorts International has a GF Score™ of 80/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does MGM Resorts International's Scaled Net Operating Assets compare to WYNN and BYD?
MGM Resorts International's Scaled Net Operating Assets of 0.79 can be compared against companies in the Travel & Leisure industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Scaled Net Operating Assets for a Travel & Leisure company?
A good Scaled Net Operating Assets depends on the Travel & Leisure industry context. However, Scaled Net Operating Assets should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Scaled Net Operating Assets mean?
A high Scaled Net Operating Assets can signal that a stock is expensive relative to its fundamentals. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on MGM Resorts International and its competitors. MGM Resorts International's current Scaled Net Operating Assets is 0.79. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is MGM Resorts International stock overvalued right now?
Based on GuruFocus' analysis, MGM Resorts International (FRA:MGG) is currently considered Fairly Valued. The stock's GF Value™ is €40.64, compared to a current price of €43.35 — trading 6.7% above its estimated fair value. The current Scaled Net Operating Assets is 0.79. MGM Resorts International's overall GF Score™ is 80/100 with 10 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Scaled Net Operating Assets calculated?
Scaled Net Operating Assets is calculated from a company's financial statements. For MGM Resorts International (FRA:MGG), the current Scaled Net Operating Assets is 0.79 as of Mar. 2026. 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 Resorts International (FRA:MGG) Overvalued in 2026?

Based on GuruFocus' analysis, MGM Resorts International stock appears to be overvalued. The current stock price of €43.35 is trading 6.7% above its estimated GF Value™ of €40.64. GuruFocus considers MGM Resorts International to be Fairly Valued.

Key valuation signals for FRA:MGG:

  • Scaled Net Operating Assets: 0.79
  • GF Value™: €40.64 vs. price of €43.35 (6.7% above fair value)
  • GF Score™: 80/100 with 10 warning signs

No single metric tells the full story. See the FRA:MGG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


MGM Resorts International Business Description

Address 3600 Las Vegas Boulevard South, Las Vegas, NV, USA, 89109
MGM Resorts is the largest resort operator on the Las Vegas Strip with 37,000 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 56% of total EBITDAR in 2025. MGM also owns US regional assets, which represented a low 20s share of 2025 EBITDAR (MGM's Macao EBITDAR was 23% of the total in 2025). 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 second property that opened on the Cotai Strip in early 2018. We estimate MGM will open a resort in Japan in 2030.
80GF Score

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Scaled Net Operating Assets is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€43.35
Price
€40.64
GF Value