Wynn Resorts subsidiaries launch $900 million private offering of senior notes due 2035. The $900 million notes issuance directly alters capital structure and future interest obligations.
| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | — | — | — | — | — | — | — | — | — | — | — | — |
| Sell | — | — | — | — | — | — | — | — | — | — | — | — |
| total | individual payouts | |
|---|---|---|
| 2028 | ‡‡‡‡‡ |
|
| 2027 | ‡‡‡‡‡ |
|
| 2026 | 1.00 |
—
—
—
|
| 2025 | 1.00 |
—
—
—
—
|
| 2024 | 1.00 |
—
—
—
—
|
| 2023 | 0.75 |
—
—
—
|
| 2022 | ‡‡‡ |
|
| 2021 | ‡‡‡ |
|
| 2020 | 1.00 |
—
|
| 2019 | 3.75 |
—
—
—
—
|
| 2018 | 2.75 |
—
—
—
—
|
| 2017 | 2.00 |
—
—
—
—
|
| 2016 | 2.00 |
—
—
—
—
|
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Cash | 3,724.40 | 2,426.16 | 2,065.20 | 2,100.72 |
| Receivables | 341.71 | 324.02 | 402.64 | 336.63 |
| Inventory | 75.55 | 75.78 | 88.48 | 89.95 |
| Other | — | — | — | — |
| 4,241.62 | 2,921.68 | 2,683.52 | 2,653.78 |
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Payables | 208.26 | 205.15 | 255.31 | 240.73 |
| ST’ Debt | 709.59 | 41.25 | 9.41 | 1,428.97 |
| Other | 543.29 | 508.65 | 569.60 | 512.71 |
| 2,200.45 | 1,539.53 | 1,643.18 | 2,908.56 |
| 10y | 5y | 3y | |
| Sales | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Cash Flow | ‡‡‡‡‡ | ‡‡‡ | ‡‡‡ |
| Earnings | ‡‡‡‡‡ | ‡‡‡ | ‡‡‡ |
| Book Value | ‡‡‡ | ‡‡‡ | ‡‡‡ |
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 1,856.76 | 1,856.93 | — | — |
—
|
| ’25 | 1,700.40 | 1,737.80 | 1,833.75 | 1,865.98 |
7,137.92
|
| ’24 | 1,862.91 | 1,732.93 | 1,693.32 | 1,838.80 |
7,127.96
|
| ’23 | 1,423.68 | 1,595.82 | 1,671.94 | 1,840.46 |
6,531.90
|
| ’22 | 953.33 | 908.83 | 889.72 | 1,004.94 |
3,756.83
|
| ’21 | 736.68 | 990.11 | 994.64 | 1,042.23 |
3,763.66
|
| ’20 | 953.72 | 85.70 | 370.45 | 686.00 |
2,095.86
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 153.46 | 491.93 | — | — |
—
|
| ’25 | 133.77 | 405.06 | 335.80 | 478.02 |
1,352.65
|
| ’24 | 315.09 | 352.76 | 279.32 | 479.03 |
1,426.20
|
| ’23 | 169.49 | 361.25 | 275.81 | 441.33 |
1,247.88
|
| ’22 | (117.38) | (40.07) | 4.41 | 81.77 |
(71.27)
|
| ’21 | (253.91) | 27.10 | 9.98 | (5.76) |
(222.59)
|
| ’20 | (176.50) | (431.49) | (173.09) | (291.35) |
(1,072.42)
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (17.65) | 339.32 | — | — |
—
|
| ’25 | (26.25) | 239.70 | 172.58 | 307.29 |
693.31
|
| ’24 | 217.60 | 257.59 | 203.48 | 377.40 |
1,056.06
|
| ’23 | 37.54 | 266.65 | 162.77 | 328.54 |
795.50
|
| ’22 | (214.60) | (138.23) | (83.89) | 54.60 |
(382.12)
|
| ’21 | (302.54) | (46.55) | (96.88) | (119.04) |
(565.01)
|
| ’20 | (313.65) | (482.28) | (242.50) | (304.35) |
(1,342.79)
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 1.04 | 1.32 | — | — |
—
|
| ’25 | 0.69 | 0.64 | 0.85 | 0.82 |
3.14
|
| ’24 | 1.30 | 0.91 | (0.29) | 2.29 |
4.35
|
| ’23 | (0.02) | 0.84 | (1.03) | 6.19 |
6.32
|
| ’22 | (1.59) | (1.14) | (1.27) | 0.29 |
(3.73)
|
| ’21 | (2.53) | (1.15) | (1.45) | (1.54) |
(6.64)
|
| ’20 | (3.77) | (5.97) | (7.10) | (2.53) |
(19.37)
|
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 50.20 | 81.65 | 71.63 | 65.25 | — | — | — |
Low Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 96.50 | 117.86 | 110.38 | 134.72 | — | — | — |
High Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 27,000 | 27,800 | 28,000 | 28,500 | — | — | — |
Employees
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.14 | 0.23 | 0.25 | 0.25 | — | — | — |
Revenue/Emp
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3,756.83 | 6,531.90 | 7,127.96 | 7,137.92 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 36.38% | 43.22% | 43.51% | 41.43% | — | — | — |
Gross Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (700.04) | 285.38 | 643.40 | 514.14 | — | — | — |
EBT
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (18.63%) | 4.37% | 9.03% | 7.20% | ‡‡‡ | ‡‡‡ | ‡‡‡ |
EBT Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (709.37) | 782.22 | 639.72 | 409.14 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Net Income
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 721.75 | 726.80 | 698.32 | 660.59 | — | — | — |
Depreciation
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 33.06 | 58.05 | 64.82 | 68.83 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue/Sh
|
| ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (3.73) | 6.49 | 4.56 | 3.16 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Earnings/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.63) | 11.09 | 12.97 | 13.04 | ‡‡‡‡ | — | — |
Cash Flow/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (2.74) | (4.02) | (3.37) | (6.36) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Capex/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (3.36) | 7.07 | 9.60 | 6.69 | — | — | — |
Free CF/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (14.44) | (9.78) | (8.81) | (9.95) | ‡‡‡‡ | — | — |
Book Value/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 113.62 | 112.52 | 109.97 | 103.70 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Shares
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡ | ‡‡‡ | 0.00 | 14.46 | 18.81 | 38.08 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
PE Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2.59 | 1.63 | 1.33 | 1.75 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PS Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡ | ‡‡‡ | 0.00 | 0.00 | 0.00 | 0.00 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PB Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 4.84 | 2.86 | 2.47 | 2.94 | ‡‡‡‡ | ‡‡‡ | ‡‡‡‡ |
EV/Sales
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (47.60) | 23.46 | 16.66 | 30.23 | — | — | — |
EV/FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (71.27) | 1,247.88 | 1,426.20 | 1,352.65 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Op' Cash Flow
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (310.85) | (452.38) | (370.14) | (659.34) | ‡‡‡‡‡ | ‡‡‡‡‡ | — |
Capex
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (382.12) | 795.50 | 1,056.06 | 693.31 | ‡‡‡‡‡ | — | — |
FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2,218.16 | 2,041.17 | 1,382.15 | 1,040.34 | — | — | — |
Working Cap'
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 12,116.86 | 11,738.33 | 10,541.73 | 10,546.81 | — | — | — |
Total Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 8,461.60 | 8,013.94 | 8,115.58 | 8,481.61 | — | — | — |
Net Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (1,640.36) | (1,100.93) | (968.60) | (1,031.28) | — | — | — |
Sh' Equity
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (3.27%) | 5.33% | 3.72% | 2.51% | — | — | — |
ROA
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.92%) | 7.60% | 9.91% | 9.38% | — | — | — |
ROIC
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 34.23% | (53.26%) | (48.42%) | (32.74%) | — | — | — |
ROE
|
Wynn Resorts (WYNN) has staged a robust post-pandemic recovery, with 2024 revenues climbing 9% to $7.13 billion driven by surging visitation in Las Vegas and Macau’s mass-market stabilization, alongside gross margins expanding to 43.5% and free cash flow surging 33% to $1.06 billion. This operational renaissance echoes the 2011-2014 Macau boom that propelled prior peaks, yet persistent balance sheet strains linger, including $10.5 billion in debt and negative book value, tempering near-term leverage despite improving ROIC at 9.9%.
Profitability metrics show promise, with net income at $640 million and EPS forecasts dipping to $3.73 in 2025 before rebounding 59% to $5.94 by 2027, supported by capex moderation and UAE diversification via the $3.9 billion Al Marjan Island project. Insider sentiment bolsters conviction, as a major 10% owner aggressively bought $29.3 million in shares in early 2025, outpacing minor director sales and signaling alignment with historical buy signals that preceded 20-50% rallies.
Trading at a 20% discount to mean analyst targets—implying 27% upside amid forward P/E compression to 19x by 2027—WYNN offers a high-conviction play on luxury travel resurgence, balanced against China regulatory risks and debt refinancing. For those eyeing leveraged sector recovery, this embeds compelling value, with historical parallels suggesting substantial upside if growth sustains.
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