NASDAQ: WYNN
Wynn Resorts
Consumer Discretionary · Hotels & Motels
52-week range
$70.79$134.72
Stock price
Market cap
At each fiscal year end, then the latest quarter end: closing price × shares outstanding.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$10.00B
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| Period | Market cap |
|---|---|
| FY2016, ended Dec 31, 2016 | $8.82B |
| FY2017, ended Dec 31, 2017 | $17.4B |
| FY2018, ended Dec 31, 2018 | $10.6B |
| FY2019, ended Dec 31, 2019 | $14.9B |
| FY2020, ended Dec 31, 2020 | $13.0B |
| FY2021, ended Dec 31, 2021 | $9.86B |
| FY2022, ended Dec 31, 2022 | $9.38B |
| FY2023, ended Dec 31, 2023 | $10.2B |
| FY2024, ended Dec 31, 2024 | $9.17B |
| FY2025, ended Dec 31, 2025 | $12.5B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $10.00B |
Revenue
By fiscal year, then the trailing 12 months.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$7.41B
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| Period | Revenue |
|---|---|
| FY2016, ended Dec 31, 2016 | $4.35B |
| FY2017, ended Dec 31, 2017 | $6.07B |
| FY2018, ended Dec 31, 2018 | $6.72B |
| FY2019, ended Dec 31, 2019 | $6.61B |
| FY2020, ended Dec 31, 2020 | $2.10B |
| FY2021, ended Dec 31, 2021 | $3.76B |
| FY2022, ended Dec 31, 2022 | $3.76B |
| FY2023, ended Dec 31, 2023 | $6.53B |
| FY2024, ended Dec 31, 2024 | $7.13B |
| FY2025, ended Dec 31, 2025 | $7.14B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $7.41B |
Net income and free cash flow
By fiscal year, then the trailing 12 months. Free cash flow is operating cash flow minus capex.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.Show tableHide table
| Period | Net income | Free cash flow |
|---|---|---|
| FY2016, ended Dec 31, 2016 | $242M | −$255M |
| FY2017, ended Dec 31, 2017 | $747M | $941M |
| FY2018, ended Dec 31, 2018 | $572M | −$514M |
| FY2019, ended Dec 31, 2019 | $123M | −$162M |
| FY2020, ended Dec 31, 2020 | −$2.07B | −$1.36B |
| FY2021, ended Dec 31, 2021 | −$756M | −$513M |
| FY2022, ended Dec 31, 2022 | −$424M | −$371M |
| FY2023, ended Dec 31, 2023 | $730M | $805M |
| FY2024, ended Dec 31, 2024 | $501M | $1.01B |
| FY2025, ended Dec 31, 2025 | $327M | $692M |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $449M | $792M |
Cash and cash equivalents
At each fiscal year end, then the latest quarter end.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$1.57B
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| Period | Cash and cash equivalents |
|---|---|
| FY2016, ended Dec 31, 2016 | $2.45B |
| FY2017, ended Dec 31, 2017 | $2.80B |
| FY2018, ended Dec 31, 2018 | $2.22B |
| FY2019, ended Dec 31, 2019 | $2.35B |
| FY2020, ended Dec 31, 2020 | $3.48B |
| FY2021, ended Dec 31, 2021 | $2.52B |
| FY2022, ended Dec 31, 2022 | $3.65B |
| FY2023, ended Dec 31, 2023 | $2.88B |
| FY2024, ended Dec 31, 2024 | $2.43B |
| FY2025, ended Dec 31, 2025 | $1.46B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $1.57B |
Total debt
At each fiscal year end, then the latest quarter end. Short- and long-term borrowings, excluding leases.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$10.7B
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| Period | Total debt |
|---|---|
| FY2016, ended Dec 31, 2016 | $10.1B |
| FY2017, ended Dec 31, 2017 | $9.63B |
| FY2018, ended Dec 31, 2018 | $9.42B |
| FY2019, ended Dec 31, 2019 | $10.4B |
| FY2020, ended Dec 31, 2020 | $13.1B |
| FY2021, ended Dec 31, 2021 | $11.9B |
| FY2022, ended Dec 31, 2022 | $12.1B |
| FY2023, ended Dec 31, 2023 | $11.7B |
| FY2024, ended Dec 31, 2024 | $10.5B |
| FY2025, ended Dec 31, 2025 | $10.5B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $10.7B |
Shares outstanding
At each fiscal year end, then the latest quarter end, adjusted for splits. Up 1.0% since 2016.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.103M
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| Period | Shares outstanding |
|---|---|
| FY2016, ended Dec 31, 2016 | 102M |
| FY2017, ended Dec 31, 2017 | 103M |
| FY2018, ended Dec 31, 2018 | 108M |
| FY2019, ended Dec 31, 2019 | 108M |
| FY2020, ended Dec 31, 2020 | 116M |
| FY2021, ended Dec 31, 2021 | 116M |
| FY2022, ended Dec 31, 2022 | 114M |
| FY2023, ended Dec 31, 2023 | 112M |
| FY2024, ended Dec 31, 2024 | 106M |
| FY2025, ended Dec 31, 2025 | 104M |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | 103M |
Buybacks and new shares
By fiscal year, then the trailing 12 months, in dollars. Below zero: bought back. Above zero: issued to employees, sold or used in acquisitions.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.Net: $81.7M more bought back than issued
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| Period | Bought back | Paid to employees | Sold for cash |
|---|---|---|---|
| FY2016, ended Dec 31, 2016 | $14.0M | $43.2M | $0 |
| FY2017, ended Dec 31, 2017 | $17.8M | $44.0M | $0 |
| FY2018, ended Dec 31, 2018 | $160M | $36.5M | $915M |
| FY2019, ended Dec 31, 2019 | $67.0M | $39.7M | $0 |
| FY2020, ended Dec 31, 2020 | $11.5M | $62.3M | $0 |
| FY2021, ended Dec 31, 2021 | $13.8M | $95.2M | $4.66M |
| FY2022, ended Dec 31, 2022 | $187M | $67.6M | $2.90M |
| FY2023, ended Dec 31, 2023 | $212M | $64.5M | $0 |
| FY2024, ended Dec 31, 2024 | $402M | $59.0M | $0 |
| FY2025, ended Dec 31, 2025 | $380M | $91.9M | — |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $168M | $86.3M | — |
Revenue (TTM)
$7.41B
+6.4% YoY
Net income (TTM)
$449M
+16.9% YoY
Cash
$1.57B
−20.7% YoY
Total debt
$10.7B
+1.7% YoY
Valuation
At current price- Market Cap
- $7.69B
- P/E
- 17.1×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 1.0×
- Price / Book
- n/m. Market cap / shareholders' equity
- EV / EBITDA
- 9.3×
Growth
Trailing 12 months- Revenue (TTM)
- $7.41B
- Revenue Growth YoY
- 6.4%
- Revenue CAGR 3Y
- 23.9%
- Revenue CAGR 5Y
- 27.8%
- EPS Growth YoY
- 23.4%
- Net Income Growth YoY
- 16.9%
Profitability
Trailing 12 months- Gross Margin
- —
- Operating Margin
- 15.7%
- Net Margin
- 6.1%
- FCF Margin
- 10.7%
- Return on Equity
- n/m. Net income (TTM) / average equity
Earnings
Trailing 12 months- Net Income
- $449M
- EPS (diluted)
- $4.17
- EBITDA
- $1.80B
- Operating Income
- $1.17B
Balance Sheet
As of Jun 30, 2026- Cash and cash equivalents
- $1.57B
- Total Debt
- $10.7B
- Net Debt
- $9.15B
- Total Assets
- $13.2B
- Total Liabilities
- $14.1B
- Shareholders' Equity
- −$169M
Cash Flow
Trailing 12 months- Operating Cash Flow
- $1.46B
- Capital Expenditure
- $667M
- Free Cash Flow
- $792M
Dividends and risk
Last 12 months- Dividend Yield
- 1.3%
- Dividend / Share
- $1.00
- Beta (5Y)
- 0.95
Every ratio is calculated from the company’s reported figures.
Strength
Revenue is up 6.4% year over year, at $7.41B.
Note
Net margin of 6.1% over the last 12 months.
Watch
Net debt is 5.1× EBITDA ($9.15B), a heavy load.
Note
Free cash flow of $792M, 10.7% of revenue.
Written by fixed rules from the reported figures, not by a person or an AI.
Latest report
Pro10-K for the fiscal year ended Dec 31, 2025 · filed Mar 2, 2026
The score and findings for the newest report are part of CoreStock Pro, coming soon. Every earlier report is free.
Score of each annual report
0 to 100 · 60 means nothing notable · tap a column for its details
2024 · 10-K51Some concerns
51Some concerns
10-K for the fiscal year ended Dec 31, 2024
Filed Feb 13, 2025 · Read the filing on EDGAR
- Revenue rose 9.1% to $7.13 billion, led by an 18.8% increase in Macau; Las Vegas grew 3.7% and Encore Boston Harbor slipped 1.0%.
- Net income fell 31.4% to $501.1 million, mainly because 2023 included a large one-time tax benefit that did not repeat.
- Wynn Las Vegas agreed to forfeit $130 million under a non-prosecution agreement, ending a US money-transfer investigation dating back to about 2014.
- Wynn put $541.7 million into its UAE resort, expected to open in 2027, and provided a completion guarantee for its $2.4 billion loan.
Business momentum
Mixed
“The decrease in net income attributable to Wynn Resorts, Limited for the year ended December 31, 2024 was primarily related to a decrease in the benefit from income taxes of $500.5 million, partially offset by increased revenues at our Macau Operations.”
Outlook
Neutral
“Wynn Al Marjan Island is currently expected to open in 2027.”
Financial stress
Low
“During the year ended December 31, 2024, the increase in cash flows from operating activities was primarily due to increased revenues from our Macau Operations and our Las Vegas Operations”
Tone against the previous report
About the same
Red flags
- Medium
Investigation
“Pursuant to the NPA, Wynn Las Vegas agreed to forfeit $130 million in funds involved in the transactions at issue and continue to make certain enhancements to its compliance program.”
- Minor
Other
“During the year ended December 31, 2024, the Company determined not to proceed with its planned phased development project adjacent to Encore Boston Harbor, and expensed $61.5 million of costs”
Positives
Macau revenue grew strongly on rising tourism and gaming volumes
“Casino revenues increased primarily due to higher gaming volumes at our Macau Operations which benefited from growing tourism in Macau during the year ended December 31, 2024.”
Lower average debt reduced interest costs
“Interest expense, net of capitalized interest, decreased $63.1 million primarily due to a decrease in the weighted average debt balance, from $12.38 billion for the year ended December 31, 2023, to $11.45 billion for the year ended December 31, 2024.”
Share buyback authorization increased to $1.0 billion
“In November 2024, the Company’s Board of Directors authorized the Company to repurchase a total of up to $1.0 billion of the Company’s outstanding shares of common stock”
Concerns
Las Vegas earnings stayed flat despite higher revenue
“Adjusted Property EBITDAR at our Las Vegas Operations remained relatively consistent in the years ended December 31, 2024 and 2023.”
Encore Boston Harbor revenue and earnings declined
“Adjusted Property EBITDAR at Encore Boston Harbor decreased $10.3 million for the year ended December 31, 2024, primarily due to a decrease in operating revenues of $8.6 million.”
Macau recovery remains incomplete and uncertain
“We cannot predict when, or even if, operations at our properties in Macau will return to pre-pandemic levels.”
New risks since the previous report
Completion guarantee on the UAE resort's $2.4 billion loan
“as a condition precedent to the Al Marjan Facility being made available to the Borrower, the Company and the government of Ras Al Khaimah entered into a completion guarantee agreement”
Further large equity payments due for the UAE resort
“We estimate our remaining 40% pro-rata share of the required equity for the construction of Wynn Al Marjan Island is between $700 million and $775 million”
Limited control over a part-owned project and exposure to partners
“Additionally, should a co-investor become bankrupt, we could become liable for its share of liabilities, including pursuant to any of the above-mentioned credit support or similar types of instruments.”
Ongoing compliance duties under the non-prosecution agreement
“The DOJ agreed that, subject to Wynn Las Vegas’s fulfillment of its obligations under the NPA, it will not bring any criminal charges against Wynn Las Vegas concerning the subject matter of its investigation”
Biggest risks named
- About $10.64 billion of debt, restrictive covenants and refinancing needs
- Macau weakness, China travel limits or money-transfer restrictions
- Loss of the Macau concession and its large investment commitments
- Cost, delay and partner risks at the UAE resort project
- Economic downturn reducing luxury travel, gaming and premium customer play
Artificial intelligence in this business: Not mentioned
How the score adds up
| Starting point | 60 | |
| Business momentum | −3 | |
| Outlook | 0 | |
| Tone against the previous report | 0 | |
| Financial stress | 0 | |
| Red flags | −3.9 | |
| New risks | −2 | |
| Score | 51 | |
Written by AI (Claude Opus 5.5) from the report’s text. 15 of 15 quotes were found word for word in the filing; the rest are left out. Not investment advice.
All scored reports
| Period | Report | Filed | Score | Momentum | Red flags |
|---|---|---|---|---|---|
| 10-K | Mar 2, 2026 | Pro | |||
| 10-K | Feb 13, 2025 | 51 | Mixed | 1 medium1 minor | |
| 10-K | Feb 23, 2024 | 70 | Strong improvement | 1 medium | |
| 10-K | Feb 27, 2023 | 54 | Improving | 2 minor | |
| 10-K | Feb 28, 2022 | 59 | Strong improvement | 1 medium1 minor | |
| 10-K | Feb 26, 2021 | 27 | Sharp deterioration | 2 medium | |
| 10-K | Feb 28, 2020 | 38 | Sharp deterioration | 1 medium | |
| 10-K | Feb 28, 2019 | 52 | Mixed | 1 medium1 minor | |
| 10-K | Feb 28, 2018 | 57 | Strong improvement | 1 serious2 medium | |
| 10-K | Feb 24, 2017 | 56 | Mixed | 1 minor |
How these scores work
An AI model reads the management discussion, risk factors and legal sections of each report and records what they say, quoting the filing word for word. Fixed rules then turn those findings into a score from 0 to 100, where 60 means nothing notable either way. A score describes the report, not whether the stock is a good investment, and the AI may know how things turned out later, which can colour older scores. Read the methodology
From the 10-Q for Q2 FY2026 (period ended Jun 30, 2026), filed Aug 6, 2026. View filings on SEC EDGAR