MGM Resorts International (MGM)
Fixed asset turnover
Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue (ttm) | US$ in thousands | 17,240,550 | 17,269,550 | 17,059,590 | 16,674,420 | 16,164,250 | 15,380,910 | 14,823,800 | 14,146,480 | 13,127,490 | 12,592,160 | 11,883,630 | 10,886,700 | 9,680,140 | 8,116,790 | 6,535,170 | 4,557,019 | 5,162,089 | 6,853,689 | 9,042,149 | 11,975,580 |
Property, plant and equipment | US$ in thousands | — | — | — | — | — | 29,407,200 | 5,233,400 | 5,140,660 | 29,754,900 | 5,089,300 | 5,027,670 | 14,144,500 | 25,928,300 | 14,528,000 | 22,553,700 | 14,454,000 | 14,632,100 | 14,792,400 | 14,977,400 | 15,173,000 |
Fixed asset turnover | — | — | — | — | — | 0.52 | 2.83 | 2.75 | 0.44 | 2.47 | 2.36 | 0.77 | 0.37 | 0.56 | 0.29 | 0.32 | 0.35 | 0.46 | 0.60 | 0.79 |
December 31, 2024 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $17,240,550K ÷ $—K
= —
The fixed asset turnover ratio measures how efficiently a company generates revenue from its investment in fixed assets. A higher ratio indicates better utilization of fixed assets to generate sales.
For MGM Resorts International, the fixed asset turnover has shown significant fluctuations over the reporting periods. The ratio started at 0.79 as of March 31, 2020, decreased to 0.29 by June 30, 2021, and then saw a sharp increase to 2.83 as of June 30, 2023. This extreme increase suggests a substantial improvement in the company's efficiency in generating revenue from its fixed assets.
However, the ratio dropped to 0.52 by September 30, 2023, indicating a decline in the efficiency of asset utilization. MGM Resorts International experienced inconsistency in fixed asset turnover in the following reporting periods, with values fluctuating between 0.44 to 2.47.
The absence of data for the latter half of 2024 prevents a complete analysis of the trend in fixed asset turnover. MGM Resorts International should closely monitor and manage its fixed asset turnover to ensure optimal utilization of assets and sustained revenue generation efficiency.
Peer comparison
Dec 31, 2024