MGM Resorts International (MGM) closed fiscal year 2025 with a gross margin of 44.4 % and a net margin of 1.2 %.
MGM Resorts International (MGM) closed fiscal year 2025 with a gross margin of 44.4 % and a net margin of 1.2 %. The same year shows an EBITDA margin of 11.5 % and an EBIT margin of 5.7 %. The free cash flow margin was 8.3 %. Against the previous year the gross margin moved −1.1 pp and the net margin −3.2 pp. Across the period the gross margin ranges between 44.4 % in 2025 and 49.3 % in 2022. The series covers 18 fiscal years, from 2008 to 2025. Margins are expressed as a percentage of net revenue and are derived from the same figures as the income statement, taken from as-reported SEC EDGAR filings, with no restatements or adjustments of our own.
Fiscal year end: December
| 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin (%) | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 49.32 % | 47.08 % | 45.51 % | 44.42 % |
| EBITDA margin (%) | 9.00 % | -4.57 % | -8.68 % | 62.10 % | 11.45 % | 20.25 % | 21.22 % | 7.22 % | 30.89 % | 25.06 % | 22.51 % | 40.66 % | 11.01 % | 35.43 % | 37.49 % | 16.74 % | 13.47 % | 11.52 % |
| EBIT margin (%) | -1.80 % | -16.04 % | -19.14 % | 51.69 % | 1.32 % | 11.59 % | 13.13 % | -1.70 % | 21.93 % | 15.86 % | 12.49 % | 30.55 % | -12.45 % | 23.54 % | 10.96 % | 11.70 % | 8.65 % | 5.71 % |
| Net margin (%) | -11.86 % | -21.49 % | -23.74 % | 39.68 % | -19.30 % | -1.75 % | -1.49 % | -4.87 % | 11.61 % | 18.08 % | 3.97 % | 15.89 % | -20.01 % | 12.96 % | 11.22 % | 7.07 % | 4.33 % | 1.17 % |
| FCF margin (%) | -0.40 % | 7.50 % | 4.90 % | 4.76 % | 5.31 % | 7.63 % | 2.57 % | -5.02 % | -7.69 % | 3.17 % | 2.00 % | 8.31 % | -34.16 % | 9.12 % | 7.55 % | 10.88 % | 7.03 % | 8.33 % |
