MGM Resorts International (MGM)
Pretax margin
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) | US$ in thousands | 1,117,060 | 1,472,760 | 903,799 | 1,461,800 | -1,511,480 |
| Revenue | US$ in thousands | 17,240,500 | 16,164,200 | 13,127,500 | 9,680,140 | 5,162,080 |
| Pretax margin | 6.48% | 9.11% | 6.88% | 15.10% | -29.28% |
December 31, 2024 calculation
Pretax margin = EBT ÷ Revenue
= $1,117,060K ÷ $17,240,500K
= 6.48%
MGM Resorts International's pretax margin has shown a fluctuating trend over the past five years. In December 2020, the pretax margin was at a negative 29.28%, indicating that the company's expenses exceeded its revenues before accounting for taxes. However, there was a notable improvement in the following year, with the pretax margin increasing to 15.10%, reflecting better operational efficiency and cost management.
Subsequently, in December 2022, the pretax margin decreased to 6.88%, suggesting that the company may have faced challenges in maintaining profitability. However, there was a slight recovery in December 2023, with the pretax margin rising to 9.11%. Despite this improvement, the pretax margin decreased again in December 2024 to 6.48%, which may indicate ongoing operational and financial challenges that the company is working to address.
Overall, MGM Resorts International's pretax margin performance indicates a mix of both positive and negative trends, highlighting the importance of continuous monitoring and management of operational efficiency and cost control strategies to ensure sustainable profitability in the long term.
Peer comparison
Dec 31, 2024