MGM MGM Resorts International margins

Relative Growth: Rel. Growth:

Relative Strength: Rel. Strength:

Relative Valuation: Rel. Valuation:

Relative Profitability: Rel. Profitability: 70

Gross margin

43.6%

Operating margin

6.5%

EBITDA margin

14%

Net margin

3.9%

Recent MGM Resorts International shows a gross margin of 43.6%, an operating margin of 6.5%, an EBITDA margin of 14%, and a net margin of 3.9%. Net margin reported the largest year-over-year gain at 3.5 percentage points, whereas gross margin reported the largest decline at 1 percentage points.

MGM margin history

Gross, operating, EBITDA and net margin trends

Over the last 3 years, MGM Resorts International's margins averaged 45.21% gross, 7.91% operating, 14.16% EBITDA, and 3.6% net. The current figures show net margin is above its three-year average, while gross, operating, and EBITDA margins are below their three-year averages.

MGM margin expansion

Year-over-year margin changes in percentage points

The largest positive change was in net margin, up 3.5 percentage points. Operating margin also expanded by 0.9 percentage points and Ebitda margin also expanded by 2.6 percentage points, while gross margin contracted by 1 percentage point.

Gross margin expansion

-1pp

Operating margin expansion

0.9pp

EBITDA margin expansion

2.6pp

Net margin expansion

3.5pp

MGM Gross margin

MGM Resorts International's gross margin averaged 45.21% over the last 3 years. The current gross margin of 43.6% is 1.6 percentage points below its three-year average. Over the last 3 years, MGM Resorts International's gross margin peaked at 47.1% in Dec 2023 and reached a low of 43.6% in Sep 2026.

MGM Operating margin

Over the last 3 years, the average operating margin for MGM Resorts International was 7.91%. MGM Resorts International's current operating margin is 6.5% and is 1.4 percentage points below its three-year average. MGM Resorts International's operating margin ranged from a low of 4.7% in Mar 2026 to a high of 12.1% in Dec 2023.

MGM EBITDA margin

Over the last 3 years, MGM Resorts International's EBITDA margin averaged 14.16%. The current EBITDA margin of 14% is 0.2 percentage points below its three-year average. During this period, EBITDA margin reached a high of 19.1% in Dec 2023 and a low of 10.7% in Mar 2026.

MGM Net margin

The average net margin for MGM Resorts International was 3.6% over the last 3 years. MGM Resorts International currently reports a net margin of 3.9%, 0.3 percentage points above its three-year average. The net margin for MGM Resorts International moved between 0.4% in Sep 2025 and 7.1% in Dec 2023.

MGM margin group comparison

Margins compared with peer-group, industry and sector averages

With a gross margin of 43.6%, MGM ranks higher than the Consumer Cyclical sector average but lower than the industry and its peers average. In comparison with the Consumer Cyclical sector average of 36.3%, MGM Resorts International's gross margin is 20% higher.

MGM margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is MGM Resorts International's gross margin?

As of Sep 30, 2026, MGM has a gross margin of 43.6%.

What is MGM Resorts International's operating margin?

The current operating margin for MGM is 6.5% as of Sep 30, 2026.

What is MGM Resorts International's EBITDA margin?

The current EBITDA margin for MGM is 14% as of Sep 30, 2026.

What is MGM Resorts International's net margin?

The current net margin for MGM is 3.9% as of Sep 30, 2026.

What are the average margins of MGM?

Over the past 3 years, MGM reported average margins of 45.2% gross, 7.9% operating, 14.2% EBITDA, and 3.6% net.

What are the highest historical margins of MGM?

Over the last 5 years, MGM Resorts International's highest margins were 49.5% gross in Sep 2022, 40.6% operating in Jun 2022, 53.3% EBITDA in Jun 2022, and 27.3% net in Jun 2022.

What are the lowest historical margins of MGM?

Looking back across 5 years, MGM reached its lowest margins at 43.6% gross in Sep 2026, 1.4% operating in Jun 2023, 10.7% EBITDA in Mar 2026, and 0.4% net in Sep 2025.