Melco Resorts & Entertainment Limited (MLCO) vs Vail Resorts, Inc. (MTN)

Melco Resorts & Entertainment Limited and Vail Resorts, Inc. are both Resorts & Casinos companies. Vail Resorts, Inc. is the larger, with a market value of $5.5B against $1.5B — 3.8× the size. Melco Resorts & Entertainment Limited trades at the lower P/E: 6.5× against 39.2×. Melco Resorts & Entertainment Limited grew revenue faster over the last twelve months: 5.99% against −4.26%. Vail Resorts, Inc. has the higher net margin (5.20% vs 4.50%) and the lower return on invested capital (7.60% vs 8.05%). Across the 21 metrics below, Melco Resorts & Entertainment Limited leads on 13 and Vail Resorts, Inc. on 8.

Valuation

Metric MLCO MTN Resorts & Casinos median
P/E 6.53 39.17 17.17
P/S 0.29 1.91 0.58
P/B n/m 9.73 2.18
Price to free cash flow 1.57 21.65 9.54
EV/EBITDA 12.23 11.47 8.81
EV/Sales 1.49 2.93 1.73
Earnings yield 15.31% 2.55% 2.55%
Free cash flow yield 63.50% 4.62% 7.85%

Profitability

Metric MLCO MTN Resorts & Casinos median
Gross margin 36.85% 41.33% 49.00%
Operating margin 12.21% 14.82% 10.92%
Net margin 4.50% 5.20% 2.36%
Free cash flow margin 0.00% 8.83% 6.48%
Return on equity (19.59%) 22.50% 0.14%
Return on assets 3.09% 2.61% 1.03%
Return on invested capital 8.05% 7.60% 7.36%

Growth

Metric MLCO MTN Resorts & Casinos median
Revenue growth (TTM) 5.99% (4.26%) 2.76%
EPS growth (last fiscal year) 360.00% (45.29%) 3.45%
Revenue growth, 5-year CAGR 24.47% 8.25% 24.21%
Net income growth, 5-year CAGR 0.00% 2.91% 0.00%

Health

Metric MLCO MTN Resorts & Casinos median
Debt to equity (5.43) 5.72 2.08
Current ratio 1.01 0.80 0.91
Net debt to EBITDA 5.04 4.00 4.00

Dividend

Metric MLCO MTN Resorts & Casinos median
Dividend yield — 5.85% 1.95%
Payout ratio — 2.29 0.37

Size

Metric MLCO MTN Resorts & Casinos median
Market cap 1.46b 5.51b 2.78b

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