MGM Resorts International (MGM)

Debt-to-assets ratio

		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
Long-term debt	US$ in thousands	6,343,810	6,505,520	6,674,040	6,841,480	7,432,820	7,209,840	7,107,160	10,507,100	11,770,800	11,618,900	12,574,900	13,245,400	12,376,700	11,414,700	11,339,600	11,743,300	11,168,900	14,943,900	14,661,700	14,730,800
Total assets	US$ in thousands	42,368,500	42,572,500	42,905,800	43,542,200	45,692,200	47,330,200	48,432,100	38,650,000	40,899,100	41,338,300	36,776,400	37,330,800	36,494,900	37,004,800	37,471,300	39,118,900	33,876,400	31,168,900	30,813,700	31,146,900
Debt-to-assets ratio		0.15	0.15	0.16	0.16	0.16	0.15	0.15	0.27	0.29	0.28	0.34	0.35	0.34	0.31	0.30	0.30	0.33	0.48	0.48	0.47

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $6,343,810K ÷ $42,368,500K
= 0.15

MGM Resorts International has maintained a relatively stable debt-to-assets ratio over the past eight quarters, ranging from 0.15 to 0.30. The lower ratios in Q4 2023 and Q3 2023 indicate that the company has a conservative approach to financing its operations, with a lower proportion of debt relative to its total assets. This suggests a lower financial risk and higher asset coverage for creditors.

However, the ratio increased to 0.16 in Q2 2023, indicating a slight uptick in the company's debt relative to its assets. This shift may be attributed to operational or strategic decisions impacting the capital structure. The ratio remained at 0.16 in Q1 2023, reflecting a stable debt position from the previous quarter.

Comparing the recent quarters to the same period in the prior year, there has been a noticeable decrease in the debt-to-assets ratio. Q4 2022 had a ratio of 0.19, which decreased to 0.15 in Q4 2023, signaling improved financial health and reduced reliance on debt financing.

Overall, MGM Resorts International's debt-to-assets ratio has shown a mix of stability and minor fluctuations, indicating a balanced approach to managing its capital structure and financial risk. It is crucial for investors and stakeholders to monitor future trends in this ratio to assess the company's long-term financial health and leverage levels.