MGM MGM Resorts International margins

Relative Growth: Rel. Growth:

Relative Strength: Rel. Strength:

Relative Valuation: Rel. Valuation:

Relative Profitability: Rel. Profitability: 46

Gross margin

44.2%

Operating margin

5.2%

EBITDA margin

12.4%

Net margin

2.4%

Recent MGM Resorts International shows a gross margin of 44.2%, an operating margin of 5.2%, an EBITDA margin of 12.4%, and a net margin of 2.4%. The company's available margins all deteriorated, with operating margin reporting the strongest contraction of 3 percentage points.

MGM margin history

Gross, operating, EBITDA and net margin trends

Over the last 3 years, MGM Resorts International's margins averaged 45.35% gross, 8.04% operating, 14.17% EBITDA, and 3.57% net. Compared with their three-year averages, all four current margins are lower.

MGM margin expansion

Year-over-year margin changes in percentage points

Operating margin led the decline, falling by 3 percentage points, while the other available margins also decreased.

Gross margin expansion

-0.8pp

Operating margin expansion

-3pp

EBITDA margin expansion

-2pp

Net margin expansion

-0.7pp

MGM Gross margin

MGM Resorts International's gross margin averaged 45.35% over the last 3 years. The current gross margin of 44.2% is 1.2 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 44.2% in Mar 2026.

MGM Operating margin

Over the last 3 years, the average operating margin for MGM Resorts International was 8.04%. MGM Resorts International's current operating margin is 5.2% and is 2.8 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 14.17%. The current EBITDA margin of 12.4% is 1.8 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 3.57% over the last 3 years. MGM Resorts International currently reports a net margin of 2.4%, 1.2 percentage points below 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 44.2%, 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 36.2%, MGM Resorts International's gross margin is 22% higher.

MGM margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is MGM Resorts International's gross margin?

As of Jun 30, 2026, MGM has a gross margin of 44.2%.

What is MGM Resorts International's operating margin?

The current operating margin for MGM is 5.2% as of Jun 30, 2026.

What is MGM Resorts International's EBITDA margin?

The current EBITDA margin for MGM is 12.4% as of Jun 30, 2026.

What is MGM Resorts International's net margin?

The current net margin for MGM is 2.4% as of Jun 30, 2026.

What are the average margins of MGM?

Over the past 3 years, MGM reported average margins of 45.4% gross, 8.0% 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 44.2% gross in Mar 2026, 1.4% operating in Jun 2023, 10.7% EBITDA in Mar 2026, and 0.4% net in Sep 2025.