MGM Resorts International (MGM) vs Vail Resorts, Inc. (MTN)

MGM Resorts International and Vail Resorts, Inc. are both Resorts & Casinos companies. MGM Resorts International is the larger, with a market value of $7.4B against $5.5B — 1.4× the size. MGM Resorts International trades at the lower P/E: 17.0× against 39.1×. MGM Resorts International grew revenue faster over the last twelve months: 3.19% against −4.26%. Vail Resorts, Inc. has the higher net margin (5.20% vs 2.36%) and the lower return on invested capital (7.60% vs 9.23%). Across the 22 metrics below, MGM Resorts International leads on 16 and Vail Resorts, Inc. on 6.

Valuation

Metric MGM MTN Resorts & Casinos median
P/E 16.95 39.10 17.15
P/S 0.41 1.91 0.53
P/B 2.15 9.71 2.09
Price to free cash flow 3.59 21.61 9.94
EV/EBITDA 4.54 11.45 8.87
EV/Sales 0.64 2.93 1.78
Earnings yield 5.90% 2.56% 1.35%
Free cash flow yield 27.84% 4.63% 7.20%

Profitability

Metric MGM MTN Resorts & Casinos median
Gross margin 44.16% 41.33% 50.85%
Operating margin 5.73% 14.82% 10.41%
Net margin 2.36% 5.20% 1.28%
Free cash flow margin 11.34% 8.83% 4.23%
Return on equity 11.82% 22.50% 5.28%
Return on assets 1.03% 2.61% 0.57%
Return on invested capital 9.23% 7.60% 5.61%

Growth

Metric MGM MTN Resorts & Casinos median
Revenue growth (TTM) 3.19% (4.26%) 2.76%
EPS growth (last fiscal year) (68.33%) (36.54%) 8.54%
Revenue growth, 5-year CAGR 27.71% 8.25% 24.21%
Net income growth, 5-year CAGR 0.00% 2.91% 0.00%

Health

Metric MGM MTN Resorts & Casinos median
Debt to equity 1.80 5.72 1.94
Current ratio 1.34 0.80 0.91
Net debt to EBITDA 1.79 4.00 3.48

Dividend

Metric MGM MTN Resorts & Casinos median
Dividend yield — 5.86% 1.94%
Payout ratio — 2.29 0.37

Size

Metric MGM MTN Resorts & Casinos median
Market cap 7.42b 5.45b 2.44b

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