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 $4.9B against $1.8B — 2.7× the size. Melco Resorts & Entertainment Limited trades at the lower P/E: 7.9× against 30.9×. Melco Resorts & Entertainment Limited grew revenue faster over the last twelve months: 5.99% against −4.29%. Vail Resorts, Inc. has the higher net margin (5.54% vs 4.50%) and the lower return on invested capital (7.57% 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 7.88 30.86 18.52
P/S 0.35 1.71 0.54
P/B n/m 5.29 2.13
Price to free cash flow 1.90 25.84 13.62
EV/EBITDA 12.72 10.26 9.18
EV/Sales 1.55 2.64 1.80
Earnings yield 12.68% 3.24% 1.69%
Free cash flow yield 52.63% 3.87% 6.51%

Profitability

Metric MLCO MTN Resorts & Casinos median
Gross margin 36.85% 41.63% 50.85%
Operating margin 12.21% 15.20% 10.41%
Net margin 4.50% 5.54% 1.28%
Free cash flow margin 0.00% 6.63% 4.23%
Return on equity (19.59%) 14.70% 5.28%
Return on assets 3.09% 2.74% 0.57%
Return on invested capital 8.05% 7.57% 5.61%

Growth

Metric MLCO MTN Resorts & Casinos median
Revenue growth (TTM) 5.99% (4.29%) 2.76%
EPS growth (last fiscal year) 360.00% 24.05% —
Revenue growth, 5-year CAGR 24.47% 8.59% 24.21%
Net income growth, 5-year CAGR 0.00% 23.16% 0.00%

Health

Metric MLCO MTN Resorts & Casinos median
Debt to equity (5.43) 3.30 1.94
Current ratio 1.01 0.91 0.91
Net debt to EBITDA 5.04 3.20 3.08

Dividend

Metric MLCO MTN Resorts & Casinos median
Dividend yield — 3.81% 1.27%
Payout ratio 0.00 1.18 0.00

Size

Metric MLCO MTN Resorts & Casinos median
Market cap 1.80b 4.91b 2.43b

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