MGM Resorts International (MGM)

Gross profit margin

		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	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Gross profit (ttm)	US$ in thousands	10,127,240	8,225,268	6,430,284	7,958,974	7,156,594	5,418,696	6,350,600	3,530,900	2,538,664	3,880,511	2,390,157	539,198	2,491,864	5,066,157	7,230,931	9,994,860	9,501,580	9,511,300	9,245,020	9,064,150
Revenue (ttm)	US$ in thousands	15,642,020	14,936,500	14,365,390	15,941,210	14,865,260	14,215,440	13,432,030	10,091,140	8,870,390	7,329,990	5,774,612	3,842,475	5,850,905	7,589,185	9,735,953	12,610,310	12,110,220	12,119,940	11,844,790	11,514,580
Gross profit margin		64.74%	55.07%	44.76%	49.93%	48.14%	38.12%	47.28%	34.99%	28.62%	52.94%	41.39%	14.03%	42.59%	66.75%	74.27%	79.26%	78.46%	78.48%	78.05%	78.72%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $10,127,240K ÷ $15,642,020K
= 64.74%

MGM Resorts International's gross profit margin has shown a decreasing trend over the past four quarters, from 49.32% in Q4 2022 to 47.08% in Q4 2023. This indicates that the company's profitability from sales has slightly declined over this period. However, it is worth noting that the gross profit margin has mostly remained above 47%, which signifies that MGM Resorts International has been able to maintain a healthy level of profitability relative to its revenue. Further analysis and comparison with industry benchmarks could provide additional insights into the company's financial performance.