Wynn Resorts, LimitedWYNN
NasdaqGS•Consumer Cyclical•Resorts & Casinos
Wynn Resorts, Limited designs, develops, and operates integrated resorts. It operates in four segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The Wynn Palace segment operates casino space, private gaming salons, and sky casinos; a luxury hotel tower with suites and villas, as well as a health club, spa, salon, and pool; food and beverage outlets; retail space; meeting and convention space; and a performance lake, an immersive entertainment center, Western and Asian art displays, and a gondola ride. Its Wynn Macau segment operates casino space, private gaming salons, sky casinos, and a poker room; luxury hotel towers with health clubs, spas, a salon, and a pool; food and beverage outlets; retail space; meeting and convention space; a performance lake; and a rotunda show featuring Chinese zodiac-inspired ceilings. The Las Vegas Operations segment operates casino space, private gaming salons, a sky casino, a poker room, and a race and sports book; a luxury hotel tower with suites, villas, swimming pools, private cabanas, full-service spas and salons, and a wedding chapel; food and beverage outlets; meeting and convention space; retail space; a golf course; nightclubs; a beach club; and theaters. Its Encore Boston Harbor segment operates casino space, private and high-limit gaming areas, and a sports book; a luxury hotel tower with suites, a spa, and a salon; food and beverage outlets; a nightclub; retail space; meeting and convention space; a waterfront park; floral displays; and water shuttle services. Wynn Resorts, Limited was incorporated in 2002 and is based in Las Vegas, Nevada.
Wynn Resorts, Limited (WYNN) reported trailing twelve months revenue of $7.29B as of March 2026, a 4.7% increase year-over-year. Quarterly revenue reached $1.86B, reflecting continued top-line momentum.
Wynn Resorts, Limited generated $375.04M in TTM net income, with quarterly EBITDA of $443.13M. The operating margin contracted from 15.8% to 15.2%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (15.2%) and net margin (6.5%) indicates moderate non-operating costs. Net margin has improved from 4.3% a year ago, signaling stronger bottom-line efficiency.
WYNN trades at a P/E of 26.6x (in line with broad market averages) and a P/S of 1.4x.
The company reported negative free cash flow of $-25.61M, indicating cash consumption over the period. The balance sheet shows $12.91B in total assets with $9.98B in long-term debt against $-211.82M in stockholders equity. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are expanding at ~15.2%, suggesting durable pricing power and cost discipline.
Limited ROE data for a reliable assessment.
6 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
Revenue has been flat or declining over recent quarters, which may indicate eroding demand or competitive pressure.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~15.5% — no sign of cost or pricing stress.
FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.
Limited debt-to-equity data available.
TTM revenue has contracted 23.9% — significant decline indicating deteriorating demand.
FCF turned negative in 2 of the last 8 quarters — occasional cash consumption.
Shares decreased 7.1% — net buybacks are reducing shares outstanding and boosting per-share value.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation