MGM Resorts International (MGM)
Quick ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 2,415,530 | 2,950,590 | 2,414,200 | 2,722,290 | 2,927,830 | 3,316,360 | 3,843,370 | 4,505,320 | 5,911,890 | 5,295,430 | 5,784,170 | 2,719,120 | 4,703,060 | 5,570,830 | 5,626,230 | 6,171,510 | 5,101,640 | 4,593,870 | 4,835,500 | 6,016,420 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | 443,025 | — | — | 941,145 | 1,484,720 | 1,439,450 | 1,447,040 | 1,473,960 | — | — |
| Receivables | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 3,351,680 | 3,886,760 | 3,000,170 | 3,033,990 | 3,126,070 | 2,962,070 | 2,749,400 | 2,844,430 | 4,515,890 | 5,895,500 | 5,544,580 | 3,599,600 | 3,442,260 | 3,410,460 | 2,036,370 | 1,835,390 | 1,856,580 | 2,766,780 | 2,575,130 | 2,626,250 |
| Quick ratio | 0.72 | 0.76 | 0.80 | 0.90 | 0.94 | 1.12 | 1.40 | 1.58 | 1.31 | 0.90 | 1.12 | 0.76 | 1.37 | 1.91 | 3.49 | 4.15 | 3.53 | 2.19 | 1.88 | 2.29 |
December 31, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($2,415,530K
+ $—K
+ $—K)
÷ $3,351,680K
= 0.72
The quick ratio of MGM Resorts International, calculated as the ratio of current assets excluding inventories to current liabilities, provides insight into the company's short-term liquidity and ability to meet immediate financial obligations.
From March 2020 to June 2022, the quick ratio of MGM Resorts generally remained above 1, indicating the company had more than enough liquid assets to cover its short-term liabilities. The ratio peaked at 4.15 in March 2021, signaling a strong liquidity position at that point in time.
However, starting from September 2022, there was a decline in the quick ratio, dropping below 1 in March 2022 and hitting a low point of 0.72 by December 2024. This downward trend suggests a decreasing ability to meet short-term obligations without relying on inventory or potentially needing to sell fixed assets.
Overall, the quick ratio fluctuated over the analyzed periods, demonstrating changes in MGM Resorts' liquidity position. The decreasing trend in recent periods may indicate a potential liquidity challenge for the company that needs to be closely monitored and managed.
Peer comparison
Dec 31, 2024