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 $8.5B against $4.9B — 1.7× the size. MGM Resorts International trades at the lower P/E: 19.4× against 30.9×. MGM Resorts International grew revenue faster over the last twelve months: 3.19% against −4.29%. Vail Resorts, Inc. has the higher net margin (5.54% vs 2.36%) and the lower return on invested capital (7.57% vs 9.23%). Both pay a dividend; Vail Resorts, Inc. yields more (3.81% vs 0.03%). Across the 23 metrics below, MGM Resorts International leads on 16 and Vail Resorts, Inc. on 7.

Valuation

Metric MGM MTN Resorts & Casinos median
P/E 19.39 30.86 18.52
P/S 0.47 1.71 0.54
P/B 2.46 5.29 2.13
Price to free cash flow 4.11 25.84 13.62
EV/EBITDA 4.95 10.26 9.18
EV/Sales 0.70 2.64 1.80
Earnings yield 5.16% 3.24% 1.69%
Free cash flow yield 24.34% 3.87% 6.51%

Profitability

Metric MGM MTN Resorts & Casinos median
Gross margin 44.16% 41.63% 50.85%
Operating margin 5.73% 15.20% 10.41%
Net margin 2.36% 5.54% 1.28%
Free cash flow margin 11.34% 6.63% 4.23%
Return on equity 11.82% 14.70% 5.28%
Return on assets 1.03% 2.74% 0.57%
Return on invested capital 9.23% 7.57% 5.61%

Growth

Metric MGM MTN Resorts & Casinos median
Revenue growth (TTM) 3.19% (4.29%) 2.76%
EPS growth (last fiscal year) (68.33%) 24.05% —
Revenue growth, 5-year CAGR 27.71% 8.59% 24.21%
Net income growth, 5-year CAGR 0.00% 23.16% 0.00%

Health

Metric MGM MTN Resorts & Casinos median
Debt to equity 1.80 3.30 1.94
Current ratio 1.34 0.91 0.91
Net debt to EBITDA 1.79 3.20 3.08

Dividend

Metric MGM MTN Resorts & Casinos median
Dividend yield 0.03% 3.81% 1.27%
Payout ratio 0.00 1.18 0.00

Size

Metric MGM MTN Resorts & Casinos median
Market cap 8.51b 4.91b 2.43b

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