FirmAtlas
Company handbook · WYNN · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17
WYNN · CIK 1174922 · LATEST FILING: 10-Q JUN '26 · FILED AUG 6, 2026
WYNN RESORTS, LIMITED
$75.60
−1.37 (−1.78%)
Close, Oct 16, 2026 · 52-week $73–135
Last fiscal year
WYNN RESORTS, LIMITED reported revenue of $7.1B for the year ended Dec 31, 2025 (FY25), up 0.1% from FY24. Net income was $327M, operating cash flow $1.4B and free cash flow $692M. Source: 10-K filed Mar 2, 2026.
Market cap
$7.9B
P/E
17.5
EV/EBITDA
9.7x
P/B
n/m
Div yield
1.32%
ROIC
10.7%
Revenue 1Y
0.1%/yr
EPS 1Y
−27.8%/yr
Shares 1Y
−4%
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Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEOCraig S. Billings
HQLas Vegas, NV
AuditorErnst & Young LLP
Employees28,500
Year endsDecember
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
−2.1%
−3.6%
−5.8%
−34.8%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$2.2B deployed
Capex
$1.1B
49.6%
Dividends
$314M
14.4%
Buybacks
$782M
35.9%
Operating cash flow over the period: $2.8B. Total debt changed by −$27M.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
TTM = the last four quarters, to Jun '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
7,128
7,138+0.1%
7,413
YoY
+0.1%
Operating income
1,133
1,118−1.3%
1,165
Operating margin
15.9%
15.7%−0.2 pp
—
EBITDA
1,792
1,739−2.9%
—
EBITDA margin
25.1%
24.4%−0.8 pp
—
Interest expense
23
626+2619.8%
—
Interest coverage
77.90x
2.78x−75.12x
—
Net income
501
327−34.7%
449
YoY
−34.7%
Net margin
7.0%
4.6%−2.4 pp
—
EPS (diluted, $)
4.35
3.14−27.8%
4.17
YoY
−27.8%
Balance sheet
Total assets
12,978
13,108+1.0%
13,159
Cash & short-term investments
2,522
1,560−38.1%
—
Accounts receivable
324
403+24.3%
—
Inventory
76
88+16.8%
—
Net PP&E
6,521
6,626+1.6%
—
Other assets
3,535
4,431+25.3%
—
Total liabilities
13,202
13,384+1.4%
13,329
Accounts payable
205
255+24.5%
—
Total debt
10,583
10,556−0.3%
12,154
Other liabilities
2,414
2,572+6.5%
—
Shareholders’ equity
(224)
(275)n/m
(169)
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
1,426
1,353−5.2%
1,459
Net income
640
409−36.0%
—
Depreciation & amortization
659
621−5.8%
—
Stock-based compensation
59
92+55.7%
—
Working capital & other
69
231+236.9%
—
Cash from investing
(84)
(1,657)n/m
—
Capex
(420)
(660)n/m
—
PP&E sold
52
2−97.0%
—
Investments bought
0
(669)n/m
—
Investments sold / matured
850
0−100.0%
—
Other investing
(566)
(329)n/m
—
Cash from financing
(1,794)
(653)n/m
—
Debt raised
1,884
1,753−7.0%
—
Debt repaid
(3,060)
(1,763)n/m
—
Dividends
(140)
(175)n/m
—
Buybacks
(402)
(380)n/m
—
Shares issued
0
0.5n/m
—
Other financing
(76)
(89)n/m
—
Net change in cash
(448)
(962)n/m
—
Free cash flow (OCF − capex)
1,006
692−31.2%
792
Where the cash went
Operating cash flow
1,426
1,353−5.2%
1,459
Reinvested in the business
420
660+57.3%
—
% of operating cash flow
29.4%
48.8%
Capex
420
660+57.3%
667
Free cash flow
1,006
692−31.2%
792
YoY
−31.2%
Returned to shareholders
541
555+2.5%
—
% of free cash flow
53.8%
80.1%
Dividends
140
175+25.1%
—
Buybacks
402
380−5.4%
—
Change in total debt
—
(27)
—
Cash left over
—
111
—
FCF conversion (FCF ÷ net income)
200.8%
211.5%+10.7 pp
—
Owner earnings
—
246
—
Owner earnings margin
—
3.5%
—
Buyback yield
4.3%
3.0%−1.3 pp
—
Returns & ratios
ROIC (all capital)
14.4%
10.7%−3.6 pp
—
ROIC (operating)
16.8%
13.1%−3.7 pp
—
Net debt / EBITDA
4.50x
5.17x+0.67x
—
ROE
−223.5%
−118.8%+104.7 pp
—
ROA
3.9%
2.5%−1.4 pp
—
ROCE
9.9%
9.8%−0.1 pp
—
NOPAT
1,126
890−21.0%
—
Invested capital (operating)
6,716
6,862+2.2%
—
Invested capital (all)
7,837
8,721+11.3%
—
Reinvestment rate
—
16.4%
—
Net debt is 5.2x EBITDA (FY25).
Income
Sep '25
Dec '25
Mar '26
Jun '26
Revenue
1,834
1,866
1,857
1,857
vs year-ago quarter
Operating income
310
275
283
298
Net income
88
100
120
140
vs year-ago quarter
Net margin
4.8%
5.4%
6.5%
7.5%
EPS (diluted, $)
0.85
0.96
1.04
1.32
vs year-ago quarter
Balance sheet
Sep '25
Dec '25
Mar '26
Jun '26
Total assets
12,802
13,108
12,905
13,159
Cash & equivalents
1,583
1,560
1,283
1,667
Total debt
10,573
10,556
11,072
12,154
Shareholders’ equity
(370)
(275)
(212)
(169)
Cash flow
Sep '25
Dec '25
Mar '26
Jun '26
Operating cash flow
336
478
153
492
Capex
164
171
179
153
Free cash flow
172
307
(26)
339
vs year-ago quarter