MGM Resorts International (MGM) Gross Margin (2009 - 2026)
MGM Resorts International (MGM) reported Gross Margin of 97.02% for Q1 2026, up 1012.0% on a YoY basis from 8.73% in Q1 2025, and down 3.04% sequentially from 100.06% in Q4 2025.
MGM Resorts International (MGM) Gross Margin (2009 - 2026) Analysis & Trends
MGM Resorts International (MGM) has 18 years of Gross Margin data on file, last reported at 97.02% in Q1 2026.
- For the quarter ending Q1 2026, Gross Margin rose 1012.0% year-over-year to 97.02%; the trailing twelve-month figure through Mar 2026 stood at 97.03% (up 763.0% YoY), and the FY2025 full-year result was 99.34%, down 10.0% from the prior year.
- Gross Margin retreated to 97.02% in Q1 2026, from 100.06% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 128.2% in Q4 2022 to a low of 70.99% in Q1 2024.
- A 5-year average of 95.58% and a median of 93.8% in 2023 frame the typical range for Gross Margin.
- Across the five-year window, Gross Margin sank 2282 bps in 2024 and jumped 2254 bps in 2025, its largest moves.
- Tracing MGM's Gross Margin over 5 years: stood at 128.2% in 2022, then slipped by 10 bps to 115.49% in 2023, then fell by 14 bps to 99.38% in 2024, then grew by 1 bps to 100.06% in 2025, then dropped by 3 bps to 97.02% in 2026.
- Business Quant data shows MGM's Gross Margin at 97.02% in Q1 2026, 100.06% in Q4 2025, and 93.72% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Las Vegas Sands | 30.75 Bn | 27.42 Bn | 3.49 Bn | 97.43% |
| 2 | MGM Resorts International | 11.68 Bn | 9.38 Bn | 4.32 Bn | 97.02% |
| 3 | Wynn Resorts | 9.99 Bn | 9.89 Bn | 1.75 Bn | 94.08% |
| 4 | Boyd Gaming | 6.73 Bn | 6.36 Bn | 984.15 Mn | 98.68% |
| 5 | Melco Resorts & Entertainment | 6.48 Bn | 5.85 Bn | - | - |
| 6 | Caesars Entertainment | 6.11 Bn | 5.15 Bn | 2.78 Bn | 96.69% |
| 7 | Vail Resorts | 5.23 Bn | 5.21 Bn | - | - |
| 8 | Hilton Grand Vacations | 4.01 Bn | 3.75 Bn | 1.23 Bn | 95.41% |
| 9 | Red Rock Resorts | 3.72 Bn | 3.12 Bn | 433.13 Mn | 85.38% |
| 10 | Studio City International Holdings | 3.53 Bn | 3.45 Bn | 155.38 Mn | 87.92% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 97.02% |
| Dec 31, 2025 | 100.06% |
| Sep 30, 2025 | 93.72% |
| Jun 30, 2025 | 97.05% |
| Mar 31, 2025 | 86.90% |
| Dec 31, 2024 | 99.38% |
| Sep 30, 2024 | 71.19% |
| Jun 30, 2024 | 99.45% |
| Mar 31, 2024 | 70.99% |
| Dec 31, 2023 | 115.49% |
| Sep 30, 2023 | 93.43% |
| Jun 30, 2023 | 93.65% |
| Mar 31, 2023 | 93.80% |
| Dec 31, 2022 | 128.20% |
| Sep 30, 2022 | 92.06% |
| Jun 30, 2022 | 92.88% |
| Mar 31, 2022 | 99.58% |
| Dec 31, 2021 | 105.77% |
| Sep 30, 2021 | 92.44% |
| Jun 30, 2021 | 90.56% |