Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $9.48B | $10.8B | $11.8B | $12.9B | $5.16B | $9.68B | $13.1B | $16.2B | $17.2B | $17.5B |
| Revenue growth | — | 13.9% | 8.9% | 9.7% | -60.0% | 87.5% | 35.6% | 23.1% | 6.7% | 1.7% |
| Operating income | $2.08B | $1.71B | $1.47B | $3.94B | -$642M | $2.28B | $1.44B | $1.89B | $1.49B | $1.00B |
| Operating margin | 21.9% | 15.9% | 12.5% | 30.5% | -12.4% | 23.5% | 11.0% | 11.7% | 8.6% | 5.7% |
| Net income | $1.10B | $1.95B | $467M | $2.05B | -$1.03B | $1.25B | $1.47B | $1.14B | $747M | $206M |
| Net margin | 11.6% | 18.1% | 4.0% | 15.9% | -20.0% | 13.0% | 11.2% | 7.1% | 4.3% | 1.2% |
| EPS (diluted) | $1.92 | $3.34 | $0.81 | $3.88 | -$2.02 | $2.41 | $3.49 | $3.19 | $2.40 | $0.76 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.53B | $2.21B | $1.72B | $1.81B | -$1.49B | $1.37B | $1.76B | $2.69B | $2.36B | $2.53B |
| Capital expenditures | $2.26B | $1.86B | $1.49B | $739M | $271M | $491M | $765M | $932M | $1.15B | $1.07B |
| Free cash flow | -$729M | $342M | $236M | $1.07B | -$1.76B | $883M | $991M | $1.76B | $1.21B | $1.46B |
| Share buybacks | $0.00 | $328M | $1.28B | $1.03B | $354M | $1.75B | $2.78B | $2.29B | $1.36B | $1.23B |
| Dividends paid | $0.00 | $252M | $261M | $271M | $77.6M | $4.79M | $4.05M | $0.00 | $0.00 | — |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $1.45B | $1.50B | $1.53B | $2.33B | $5.10B | $4.70B | $5.91B | $2.93B | $2.42B | $2.06B |
| Total assets | $28.2B | $29.2B | $30.2B | $33.9B | $36.5B | $40.9B | $45.7B | $42.4B | $42.2B | $41.4B |
| Total liabilities | $18.1B | $17.5B | $19.6B | $21.1B | — | — | — | $38.0B | $38.5B | $38.1B |
| Long-term debt | $13.0B | $12.8B | $15.1B | $11.2B | $12.4B | $11.8B | $7.43B | $6.34B | $6.36B | $6.23B |
| Shareholders' equity | $6.22B | $7.58B | $6.51B | $7.73B | $6.50B | $6.07B | $4.83B | $3.81B | $3.02B | $2.43B |
| Retained earnings | $546M | $2.22B | $2.42B | $4.20B | $3.09B | $4.34B | $4.79B | $3.66B | $3.08B | $2.11B |
| Shares (wtd avg diluted) | 573M | 579M | 550M | 528M | 494M | 487M | 413M | 359M | 310M | 277M |
Every figure is extracted from MGM Resorts International’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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