Wynn Resorts (WYNN) AI Stock Analysis

• Market Cap: $9.46B
• Dividend Yield: 1.1%
• Average Volume (3M): 2.25M
• Price to Earnings (P/E): 24.7
• Beta (1Y): 0.98
• Revenue Growth: -0.08%
• EPS Growth: -48.66%
• Country: US
• Employees: 28,000
• Sector: Consumer Cyclical
• Sector Strength: 73
• Industry: Gambling, Resorts & Casinos
• EPS (TTM): 1.07
• Shares Outstanding: 104,554,300
• 10 Day Avg. Volume: 2,471,863
• 30 Day Avg. Volume: 2,248,661
• PEG Ratio: -0.39
• Price to Book (P/B): -42.44
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 7.08
• Enterprise Value/Market Cap: 2.00
• Enterprise Value/Revenue: 0.67
• Enterprise Value/Gross Profit: 6.47
• Enterprise Value/Ebitda: 2.48
• 1Y Price Target: $104.00
• Price Target Upside: 12.38% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 9

• Rating: 57 Neutral
• Price Target: $100.00 ▲(8.06%Upside)

Wynn Resorts demonstrates strong post-pandemic recovery and operational resilience, as reflected in revenue and cash flow growth. However, significant balance sheet concerns due to high leverage and negative equity weigh heavily on the financial health of the company. Technical indicators suggest caution with potential overbought conditions. While the earnings call provided a positive outlook with strong performance in key markets, challenges such as CapEx delays and competitive pressures in Macau remain. Valuation metrics suggest a fair market valuation, with room for dividend yield improvement.

Positive Factors

Expansion and Diversification

The opening of Wynn Al Marjan Island in early 2027 is expected to be a key catalyst for Wynn Resorts, as it will be the first major integrated casino resort in the Middle East.

Financial Performance

Wynn's recent pullback and strong free cash flow yield are seen as factors that increasingly de-risk China/Macau exposure.

Stock Buyback

The company bought back ~$200mn in stock during the quarter, indicating strong capital allocation.

Negative Factors

Capital Expenditure

Management delayed ~$375mn in capex for tariffs suggesting the company is not totally immune to policies.

Earnings

WYNN reported headline 1Q results below expectations driven largely by lower VIP hold in Macau.

Macroeconomic Risks

Key concerns for the business include recession risks in Las Vegas and macro and geopolitical risks for Macau.

Wynn Resorts Business Overview & Revenue Model

Company Description

Wynn Resorts, Limited designs, develops, and operates integrated resorts. Its Wynn Palace segment operates 424,000 square feet of casino space with 323 table games, 1,035 slot machines, private gaming salons, and sky casinos; a luxury hotel tower with 1,706 guest rooms, suites, and villas, including a health club, spa, salon, and pool; 14 food and beverage outlets; 107,000 square feet of retail space; 37,000 square feet of meeting and convention space; and performance lake and floral art displays. Its Wynn Macau segment operates 252,000 square feet of casino space with 331 table games, 818 slot machines, private gaming salons, sky casinos, and a poker room; two luxury hotel towers with 1,010 guest rooms and suites that include two health clubs, two spas, a salon, and a pool; 14 food and beverage outlets; 59,000 square feet of retail space; 31,000 square feet of meeting and convention space; and Chinese zodiac-inspired ceiling attractions. Its Las Vegas Operations segment operates 194,000 square feet of casino space with 223 table games, 1,751 slot machines, private gaming salons, a sky casino, a poker room, and a race and sports book; two luxury hotel towers with 4,748 guest rooms, suites, and villas, including swimming pools, private cabanas, two full service spas and salons, and a wedding chapel; 32 food and beverage outlets; 513,000 square feet of meeting and convention space; 155,000 square feet of retail space; and two theaters, three nightclubs and a beach club. Its Encore Boston Harbor segment operates 211,000 square feet of casino space with 184 table games, 2,766 slot machines, gaming areas, and a poker room; a luxury hotel tower with 671 guest rooms and suites, including a spa and salon; 15 food and beverage outlets and a nightclub; 10,000 square feet of retail space; 71,000 square feet of meeting and convention space; and a waterfront park, floral displays, and water shuttle service. The company was founded in 2002 and is based in Las Vegas, Nevada.

How the Company Makes Money

Wynn Resorts generates revenue primarily through its casino operations, which include gaming tables and slot machines. In addition to gaming revenue, the company earns substantial income from its hotel accommodations, food and beverage services, and entertainment offerings. Wynn's resorts feature a variety of luxury amenities that appeal to high-end clientele, thereby enabling the company to charge premium prices. The company also benefits from retail leasing and other non-gaming income streams at its resort properties. Significant partnerships and its strategic locations in major tourism destinations contribute to its financial performance by attracting both leisure and business travelers.

Wynn Resorts Financial Statement Overview

Summary

Wynn Resorts exhibits strong revenue growth and improved operational efficiency. However, it faces challenges with its balance sheet due to negative equity and high leverage, which could pose financial risks. The company has shown resilience in cash flow management, recovering from previous deficits.

Income Statement

Wynn Resorts has demonstrated strong revenue growth with a significant increase from $3.76 billion in 2021 to $7.13 billion in 2024, reflecting a positive recovery trajectory. The gross profit margin improved to 100% in 2024, indicating efficient cost management. However, net income has seen fluctuations, with a decrease in profitability from 2023 to 2024, causing a decline in the net profit margin. The EBIT and EBITDA margins have improved over the years, showcasing operational efficiency gains.

Balance Sheet

The balance sheet shows a concerning negative stockholders' equity, which has deteriorated over the years, raising risks around financial stability. The debt-to-equity ratio is undefined due to negative equity, indicating high leverage. Although the company has a strong asset base, the equity ratio is negative, emphasizing potential risks in the company's financial structure.

Cash Flow

Wynn Resorts has improved its free cash flow from negative in 2020 to a positive $1.43 billion in 2024, reflecting strong cash generation from operations. The operating cash flow to net income ratio is robust, indicating that operating cash flows are substantial relative to net income. However, free cash flow growth has been inconsistent over the years, requiring careful management to sustain positive cash flow.

Breakdown
Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
7.13B	6.53B	3.76B	3.76B	2.10B
	Gross Profit
3.10B	2.82B	1.25B	1.21B	352.64M
	EBIT
1.13B	840.17M	-247.10M	-415.25M	-1.16B
	EBITDA
1.99B	1.72B	643.17M	310.01M	-480.30M
	Net Income Common Stockholders
501.08M	729.99M	-709.37M	-1.01B	-2.33B
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
2.43B	3.72B	3.65B	2.52B	3.48B
	Total Assets
12.98B	14.00B	13.42B	12.53B	13.87B
	Total Debt
12.17B	13.42B	13.73B	12.05B	13.19B
	Net Debt
9.74B	10.54B	10.08B	9.53B	9.71B
	Total Liabilities
13.95B	15.10B	15.06B	13.37B	14.61B
	Stockholders Equity
-224.16M	-251.38M	-750.84M	-214.42M	-352.00M
Cash Flow		Free Cash Flow
1.00B	740.70M	-423.78M	-569.28M	-1.36B
	Operating Cash Flow
1.43B	1.25B	-71.27M	-222.59M	-1.07B
	Investing Cash Flow
-83.56M	-1.34B	1.35B	-342.42M	-265.76M
	Financing Cash Flow
-1.79B	-719.21M	-719.21M	-388.00M	2.46B

Wynn Resorts Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 92.54
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For WYNN, the sentiment is Positive. The current price of 92.54 is above the 20-day moving average (MA) of 89.32, above the 50-day MA of 82.96, and above the 200-day MA of 86.02, indicating a bullish trend. The MACD of 3.28 indicates Positive momentum. The RSI at 60.88 is Neutral, neither overbought nor oversold. The STOCH value of 21.96 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for WYNN.

Wynn Resorts Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BYD	78 Outperform	$5.95B	11.93	35.62%	0.94%	6.06%	10.05%
LVS	71 Outperform	$28.12B	22.18	39.21%	2.13%	-0.09%	-13.07%
MGM	68 Neutral	$8.53B	14.04	21.38%	―	2.76%	-14.31%
CHDN	66 Neutral	$6.73B	16.60	44.13%	0.44%	11.75%	24.31%
Sector *	62 Neutral	$6.84B	11.23	3.09%	3.95%	2.66%	-25.23%
CZR	59 Neutral	$5.76B	―	-5.56%	―	-1.25%	-130.83%
WYNN	57 Neutral	$9.46B	24.69	-51.73%	1.10%	-0.08%	-48.66%

Wynn Resorts Corporate Events

Wynn Resorts Announces Dividend Amid Revenue Decline

On May 6, 2025, Wynn Resorts announced a cash dividend of $0.25 per share, payable on May 30, 2025. The company’s first-quarter results for 2025 showed a decrease in operating revenues to $1.70 billion, down from $1.86 billion in the same period of 2024. Net income also fell to $72.7 million from $144.2 million in the previous year. Despite these declines, the company maintained market share in Macau and continued its growth project in the UAE. Additionally, Wynn Resorts repurchased $200 million worth of its stock during the quarter.

Wynn Resorts’ Wynn Macau Reports Strong Financial Growth

On April 28, 2025, Wynn Macau, Limited, an indirect subsidiary of Wynn Resorts, filed its annual report for the year ended December 31, 2024, with the Hong Kong Stock Exchange. The report highlights significant financial growth, with casino revenues increasing to HK$23.6 billion and profits attributable to owners rising to HK$3.2 billion. This financial performance underscores Wynn Macau’s strong market positioning and operational success in the competitive Macau gaming industry.