Consumer Discretionary · Casinos & Gaming · US stock · price as of 22 Oct 2026
Key indicators
Price
$75.13
52-week range
$73.07 – $134.72
Market cap
$7.7B
P/E (trailing)
17.4×
EV / EBITDA
9.4×
Free-cash-flow yield
10.2%
Dividend yield
1.3%
Revenue (last 12 months)
$7.4B
Revenue growth (3y a year)
23.9%
Operating margin
15.7%
Return on invested capital
10.9%
Net debt / EBITDA
5.1×
Fair value
Fair value (average of valid models)$102.04 middle half of models $88 – $131
Versus priceUndervalued+36% to fair value
P/E multiple
$78.42
P/S multiple
$98.77
EV/EBITDA multiple
$88.55
EV/EBIT multiple
$96.83
EV/revenue multiple
$97.54
5-year DCF, EBITDA exit
$139.70
5-year DCF, revenue exit
$141.54
10-year DCF, growth exit
$138.13
5-year DCF, growth exit
$123.79
Dividend discount, multi-stage
$31.77
Earnings power value
$87.40
Model uncertainty
High
X-Ray Score
51/ 100 · Medium confidence · ahead of 53% of sector peers
Valuation86
Growth47
Profitability39
Financial health17
Dividends65
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
Luxury integrated resorts that combine casinos with hotels, restaurants, shops, entertainment and convention space are the core of Wynn Resorts. It develops and operates resorts in Las Vegas, in Macau and in the Boston area. Its guests include casino players, leisure travellers, conference groups and diners. The company is organised by geographic region, with its Macau, Las Vegas and Massachusetts resorts reported as separate operations.
Revenue comes from casino gaming, hotel rooms, food and beverage, retail and entertainment. It reached $7.4 billion over the last twelve months, having grown at 23.9% a year over the last three years. The operating margin is 15.7%, and the business carries net debt of 5.1 times EBITDA. It pays a dividend with a yield of 1.3%.
StocksXray gives Wynn Resorts Ltd an X-Ray Score of 51 out of 100 (medium confidence), ahead of 53% of the S&P 500 stocks in its sector. Its strongest lens is valuation (86) and its weakest is financial health (17).
Our fair value (the average of the valid models) is $102.04 (range $87.97 to $130.96). At $75.13 the stock trades 26% below that value, so the label is "Undervalued" with high model uncertainty. Fair value is a range, not a price target.
XStocksXray
Wynn Resorts Ltd (WYNN)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$82.06
$79.58
$88.61
$84.71
$119.46
$75.13
Market cap
$9.3B
$9.0B
$10.0B
$9.3B
$12.5B
$7.7B
P/E
–
–
14.0×
19.5×
38.0×
17.4×
EV / revenue
4.8×
4.4×
2.8×
2.3×
2.9×
2.2×
EV / EBITDA
56.4×
28.1×
11.8×
9.3×
11.9×
9.0×
Price / free cash flow
–
–
12.4×
9.3×
18.0×
9.8×
Free-cash-flow yield
−5.5%
−4.1%
8.1%
10.8%
5.6%
10.2%
Price / book
–
–
–
–
–
–
Dividend yield
–
–
–
–
–
1.33%
Fundamentals checklist ● 5 Good · ● 2 Average · ● 6 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−7.7%Good
Free-cash-flow yield10.2%Good
Risk models
Altman Z score0.1×Bad
Piotroski F-Score5 of 9Bad
Growth
Revenue growth (3y)23.9%Good
Growth consistency80%Average
Balance sheet
Current ratio0.9×Bad
Net debt / EBITDA5.1×Bad
Interest cover1.9×Bad
Valuation
Fair value vs price1.4×Good
EBIT / EV yield7.2%Good
Profitability
Return on invested capital10.9%Bad
Operating margin15.7%Average
Red flags
Negative equity — Book equity is negative
Negative equity — Book equity is negative
Negative equity — Book equity is negative
Negative equity — Book equity is negative
Negative equity — Book equity is negative
XStocksXray
Wynn Resorts Ltd (WYNN)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
3,764
3,757
6,532
7,128
7,138
7,413
Gross profit
–
–
–
–
–
–
Operating income
-395
-101
840
1,133
1,118
1,165
Net income
-756
-424
730
501
327
449
Diluted EPS ($)
-6.64
-3.73
6.32
4.35
3.14
4.33
Free cash flow
-513
-371
805
1,006
692
792
Gross margin
–
–
–
–
–
–
Operating margin
−10.5%
−2.7%
12.9%
15.9%
15.7%
15.7%
Net margin
−20.1%
−11.3%
11.2%
7.0%
4.6%
6.1%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
12,531
13,415
13,996
12,978
13,108
13,159
Cash
2,523
3,650
2,879
2,426
1,463
1,573
Total debt
11,935
12,117
11,738
10,542
10,547
10,725
Equity
-214
-751
-251
-224
-275
-169
Dividend per share ($)
–
–
–
–
–
1.00
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value is the average of up to 15 valuation models, most of them anchored to the company's own multiples, so it stays near the price and should be read as a range, not a point. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.
