Wynn Resorts Limited (WYNN)
Pretax 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 233,160 | 41,907 | 19,832 | -218,990 | -414,524 | -632,080 | -655,672 | -657,011 | -755,312 | -845,185 | -1,030,868 | -1,456,822 | -1,502,574 | -1,149,163 | -782,155 | -132,978 | 299,816 | 307,492 | 443,476 | 496,979 |
| Revenue (ttm) | US$ in thousands | 6,041,540 | 5,159,544 | 4,442,929 | 3,766,258 | 3,310,708 | 3,379,932 | 3,498,822 | 3,587,922 | 3,358,884 | 3,004,247 | 2,352,118 | 1,472,938 | 1,656,562 | 2,608,751 | 3,887,865 | 5,432,936 | 6,181,410 | 6,325,140 | 6,515,400 | 6,558,940 |
| Pretax margin | 3.86% | 0.81% | 0.45% | -5.81% | -12.52% | -18.70% | -18.74% | -18.31% | -22.49% | -28.13% | -43.83% | -98.91% | -90.70% | -44.05% | -20.12% | -2.45% | 4.85% | 4.86% | 6.81% | 7.58% |
December 31, 2023 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $233,160K ÷ $6,041,540K
= 3.86%
The pretax margin of Wynn Resorts Ltd. has shown variability over the past eight quarters. In Q4 2023, the pretax margin improved to 4.37%, a positive sign compared to the negative margins in the previous quarters. The company experienced a steep decline in Q1 2023, reaching -10.51%, and further deterioration in Q2 and Q3 2023. This trend follows a pattern of negative margins observed throughout 2022, with the lowest point at -24.79% in Q2 2022. Overall, there seems to be some recovery based on the Q4 2023 data, but the company will need to sustain this positive momentum to ensure profitability in the long run.
Peer comparison
Dec 31, 2023