Full House Resorts, Inc. (FLL) vs Melco Resorts & Entertainment Limited (MLCO)

Full House Resorts, Inc. and Melco Resorts & Entertainment Limited are both Resorts & Casinos companies. Melco Resorts & Entertainment Limited is the larger, with a market value of $1.8B against $64.1M — 28.1× the size. Full House Resorts, Inc. has negative trailing earnings, so its P/E is not meaningful; Melco Resorts & Entertainment Limited trades at 7.9×. Melco Resorts & Entertainment Limited grew revenue faster over the last twelve months: 5.99% against 2.76%. Melco Resorts & Entertainment Limited has the higher net margin (4.50% vs −12.1%) and the higher return on invested capital (8.05% vs 1.04%). Across the 19 metrics below, Melco Resorts & Entertainment Limited leads on 14 and Full House Resorts, Inc. on 5.

Valuation

Metric FLL MLCO Resorts & Casinos median
P/E n/m 7.88 18.52
P/S 0.20 0.35 0.54
P/B n/m n/m 2.13
Price to free cash flow 15.56 1.90 13.62
EV/EBITDA 9.61 12.72 9.18
EV/Sales 1.65 1.55 1.80
Earnings yield (60.36%) 12.68% 1.69%
Free cash flow yield 6.43% 52.63% 6.51%

Profitability

Metric FLL MLCO Resorts & Casinos median
Gross margin 52.79% 36.85% 50.85%
Operating margin 2.31% 12.21% 10.41%
Net margin (12.06%) 4.50% 1.28%
Free cash flow margin 1.30% 0.00% 4.23%
Return on equity (936.37%) (19.59%) 5.28%
Return on assets (5.76%) 3.09% 0.57%
Return on invested capital 1.04% 8.05% 5.61%

Growth

Metric FLL MLCO Resorts & Casinos median
Revenue growth (TTM) 2.76% 5.99% 2.76%
EPS growth (last fiscal year) 3.45% 360.00% —
Revenue growth, 5-year CAGR 19.21% 24.47% 24.21%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric FLL MLCO Resorts & Casinos median
Debt to equity (35.27) (5.43) 1.94
Current ratio 0.62 1.01 0.91
Net debt to EBITDA 8.92 5.04 3.08

Dividend

Metric FLL MLCO Resorts & Casinos median
Dividend yield — — 1.27%
Payout ratio 0.00 0.00 0.00

Size

Metric FLL MLCO Resorts & Casinos median
Market cap 64.13m 1.80b 2.43b

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