MGM Resorts International (MGM)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 10,081,600 | 7,114,040 | 5,251,080 | 2,492,270 | 11,026,400 |
| Revenue | US$ in thousands | 15,596,400 | 14,822,700 | 8,908,930 | 5,851,180 | 14,531,600 |
| Gross profit margin | 64.64% | 47.99% | 58.94% | 42.59% | 75.88% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $10,081,600K ÷ $15,596,400K
= 64.64%
MGM Resorts International's gross profit margin has shown fluctuations over the five-year period provided. In 2023, the gross profit margin decreased to 47.08% from 49.32% in 2022 but remained relatively stable compared to the margins in 2021 and 2019. The significant increase in the margin in 2022 from 2021 indicates improved efficiency in generating revenue after accounting for the cost of goods sold. However, the drop in 2023 suggests potential challenges in managing costs or changes in revenue streams. It would be beneficial to further investigate the factors contributing to these fluctuations to gain insights into MGM Resorts International's operational performance and profitability.
Peer comparison
Dec 31, 2023