Wynn Resorts Ltd
Exchange: NASDAQSector: Consumer CyclicalIndustry: Resorts & Casinos
Wynn Resorts, Limited is traded on the Nasdaq Global Select Market under the ticker symbol WYNN and is part of the S&P 500 Index. Wynn Resorts owns and operates Wynn Las Vegas (wynnlasvegas.com), Wynn Macau (wynnmacau.com), Wynn Palace, Cotai (wynnpalace.com), and operates Encore Boston Harbor (encorebostonharbor.com). The Company is constructing an Integrated Resort in Ras Al Khaimah, United Arab Emirates, set to open in 2027. Wynn and Encore Las Vegas consist of two luxury hotel towers with a total of 4,748 spacious hotel rooms, suites, and villas. The resort features approximately 194,000 square feet of casino space, 20 signature dining experiences, 14 bars, two award-winning spas, approximately 513,000 rentable square feet of meeting and convention space, approximately 177,000 square feet of retail space as well as two showrooms, two nightclubs, a beach club, and recreation and leisure facilities, including Wynn Golf Club, an 18-hole championship golf course. Encore Boston Harbor is a luxury resort destination featuring a 210,000 square foot casino, 671 hotel rooms, an ultra-premium spa, specialty retail, 14 dining and lounge venues, a nightclub and approximately 71,000 square feet of state-of-the-art ballroom and meeting spaces. Situated on the waterfront along the Mystic River in Everett, Massachusetts, the resort has created a six-acre public park and Harborwalk along the shoreline. It is the largest private, single-phase development in the history of the Commonwealth of Massachusetts. Wynn Macau is a luxury hotel and casino resort located in the Macau Special Administrative Region of the People's Republic of China with two luxury hotel towers with a total of 1,010 spacious rooms and suites, approximately 294,000 square feet of casino space, 14 food and beverage outlets, approximately 31,000 square feet of meeting and convention space, approximately 64,300 square feet of retail space, and recreation and leisure facilities including two opulent spas, a salon and a rotunda show. Wynn Palace is a luxury integrated resort in Macau. Designed as a floral-themed destination, it boasts 1,706 exquisite rooms, suites and villas, approximately 468,000 square feet of casino space, 14 food and beverage outlets, approximately 37,000 square feet of meeting and convention space, approximately 107,000 square feet of designer retail, SkyCabs that traverse an eight-acre Performance Lake, an extensive collection of rare art, a lush spa, salon and recreation and leisure facilities. Wynn Al Marjan Island will be the first integrated resort in the United Arab Emirates. Set to open in 2027, the resort will be located 50 minutes from the Dubai International Airport in the emirate of Ras Al Khaimah. Wynn Resorts is developing the project in partnership with Marjan and RAK Hospitality Holding, creating a new category of luxury in the region. The resort will offer 1,542 rooms and well-appointed suites, as well as 22 restaurants, lounges, and bars, a theater, a nightclub, and a beach club adjacent to the Arabian Gulf. In addition, Wynn Al Marjan Island will feature multiple swimming and wading pools, water features, private cabanas, and tropical landscaping, a five-star spa, and a salon. The resort will also include a 15,000-square-meter shopping promenade filled with the world's top luxury boutiques, and a 7,500-square-meter meetings and events center. About Chef's Table Chef's Table premiered on Netflix in 2015 as an American docuseries featuring culinary stars around the world. Emmy Award-winning and the longest-running original series on Netflix, Chef's Table has captivated millions of viewers with its uniquely intimate portrayals of passionate chefs. Building on its first 10 years, Chef's Table enters a new chapter of growth to broaden its reach through brand partnerships with industry-leading companies, and the launch of Chef's Table: Talks, a podcast hosted by David Gelb.
Current Price
$98.54
+0.49%GoodMoat Value
$132.67
34.6% undervaluedProfile
Valuation (TTM)
Market Cap$10.28B
P/E27.40
EV$20.53B
P/B—
Shares Out104.28M
P/Sales1.41
Revenue$7.29B
EV/EBITDA11.91
Wynn Resorts Ltd (WYNN) Stock Analysis
GoodMoat Analysis
Wynn Resorts possesses a narrow but durable moat through regulatory barriers and brand prestige in its key markets, but its valuation appears full and growth is currently muted. The GoodMoat target price suggests a favourable margin of safety, but the stock does not clearly pass the initial quality gate of the investment framework.
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Wynn Resorts Ltd operates luxury integrated resorts and casinos, most notably in Las Vegas and Macau. Its primary competitive advantages, assessed through the GoodMoat framework, stem from regulatory barriers (criterion #5) and brand & culture (#6). The company holds scarce, government-issued gaming licenses in its core markets, creating significant entry barriers. Its brand is synonymous with high-end luxury in the casino resort sector, commanding customer loyalty and pricing power. However, its moat is geographically concentrated and subject to cyclical and regulatory risks. Based on the framework, it likely meets 2-3 of the 14 moat criteria, resulting in a Moat Score below the 5+ threshold required to proceed to full valuation analysis. The company's financial quality is mixed. While its Free Cash Flow Yield of 6.5% is solid, its revenue growth of 1.5% YoY is low, and its operating margin of 15.7% is moderate for the industry. The GoodMoat target price of $130.21 implies a potential margin of safety of approximately 28% from the current $101.89 price, which falls into the 'Favourable' 20-40% band in the valuation assessment. For a value investor, this presents a conflict: the target suggests undervaluation, but the business profile may not meet the initial quality and moat gates of the framework. Further investigation would require reconciling this valuation signal with a deeper analysis of the company's cyclical resilience, balance sheet health (debt levels are a key concern), and the sustainability of its Macau operations. Analysis based on data as of 2024-05-15.
Market Cap$10.28B
Current Price$98.54
P/E Ratio27.40
Forward P/E—
PEG Ratio0.39
EPS$3.14
Book Value$-2.64
P/B Ratio—
WYNN Financial Charts
FCF vs CAPEX
FCFCAPEX
Cash vs Debt
Net Debt: 10.6B
Revenue
6.6B
FY19
2.1B
FY20
3.8B
FY21
3.8B
FY22
6.5B
FY23
7.1B
FY24
7.1B
FY25
Net Income
123M
FY19
—
FY20
—
FY21
—
FY22
730M
FY23
501M
FY24
327M
FY25
WYNN 52-Week Range
$82.46
$132.43
50-Day MA: $102.19200-Day MA: $114.30
Did you know?
Pays a 1.70% dividend yield.
Wynn Resorts Ltd (WYNN) Financial Summary
Wynn Resorts Ltd (WYNN) is a Consumer Cyclical company in the Resorts & Casinos industry, listed on NASDAQ. The stock currently trades at $98.54 with a market capitalization of $10.28B.
Key valuation metrics include a P/E ratio of 27.40, and EPS of $3.14. The company reports a profit margin of 5.1%.
WYNN Key Financial Metrics
| Metric | Value |
|---|---|
| Market Cap | $10.28B |
| P/E Ratio | 27.40 |
| EPS | $3.14 |
| P/S Ratio | 1.41 |
| EV/EBITDA | 11.91 |
| Dividend Yield | 1.70% |
| Profit Margin | 5.1% |
WYNN Revenue & Earnings History
| Year | Revenue | Net Income |
|---|---|---|
| FY19 | $6.61B | $122.98M |
| FY20 | $2.10B | $-2.07B |
| FY21 | $3.76B | $-755.79M |
| FY22 | $3.76B | $-423.86M |
| FY23 | $6.53B | $729.99M |
| FY24 | $7.13B | $501.08M |
| FY25 | $7.14B | $327.33M |
Wynn Resorts Ltd (WYNN) Valuation
Based on GoodMoat's DCF model, Wynn Resorts Ltd has a fair value estimate of $132.67. At the current price of $98.54, the stock appears 25.7% undervalued relative to our intrinsic value estimate.
WYNN Quality Indicators
Wynn Resorts Ltd maintains a profit margin of 5.1% and an operating margin of 15.7%. The current ratio is 1.63.
About Wynn Resorts Ltd
Wynn Resorts, Limited is traded on the Nasdaq Global Select Market under the ticker symbol WYNN and is part of the S&P 500 Index. Wynn Resorts owns and operates Wynn Las Vegas (wynnlasvegas.com), Wynn Macau (wynnmacau.com), Wynn Palace, Cotai (wynnpalace.com), and operates Encore Boston Harbor (encorebostonharbor.com). The Company is constructing an Integrated Resort in Ras Al Khaimah, United Arab Emirates, set to open in 2027. Wynn and Encore Las Vegas consist of two luxury hotel towers with a total of 4,748 spacious hotel rooms, suites, and villas. The resort features approximately 194,000 square feet of casino space, 20 signature dining experiences, 14 bars, two award-winning spas, approximately 513,000 rentable square feet of meeting and convention space, approximately 177,000 square feet of retail space as well as two showrooms, two nightclubs, a beach club, and recreation and leisure facilities, including Wynn Golf Club, an 18-hole championship golf course. Encore Boston Harbor is a luxury resort destination featuring a 210,000 square foot casino, 671 hotel rooms, an ultra-premium spa, specialty retail, 14 dining and lounge venues, a nightclub and approximately 71,000 square feet of state-of-the-art ballroom and meeting spaces. Situated on the waterfront along the Mystic River in Everett, Massachusetts, the resort has created a six-acre public park and Harborwalk along the shoreline. It is the largest private, single-phase development in the history of the Commonwealth of Massachusetts. Wynn Macau is a luxury hotel and casino resort located in the Macau Special Administrative Region of the People's Republic of China with two luxury hotel towers with a total of 1,010 spacious rooms and suites, approximately 294,000 square feet of casino space, 14 food and beverage outlets, approximately 31,000 square feet of meeting and convention space, approximately 64,300 square feet of retail space, and recreation and leisure facilities including two opulent spas, a salon and a rotunda show. Wynn Palace is a luxury integrated resort in Macau. Designed as a floral-themed destination, it boasts 1,706 exquisite rooms, suites and villas, approximately 468,000 square feet of casino space, 14 food and beverage outlets, approximately 37,000 square feet of meeting and convention space, approximately 107,000 square feet of designer retail, SkyCabs that traverse an eight-acre Performance Lake, an extensive collection of rare art, a lush spa, salon and recreation and leisure facilities. Wynn Al Marjan Island will be the first integrated resort in the United Arab Emirates. Set to open in 2027, the resort will be located 50 minutes from the Dubai International Airport in the emirate of Ras Al Khaimah. Wynn Resorts is developing the project in partnership with Marjan and RAK Hospitality Holding, creating a new category of luxury in the region. The resort will offer 1,542 rooms and well-appointed suites, as well as 22 restaurants, lounges, and bars, a theater, a nightclub, and a beach club adjacent to the Arabian Gulf. In addition, Wynn Al Marjan Island will feature multiple swimming and wading pools, water features, private cabanas, and tropical landscaping, a five-star spa, and a salon. The resort will also include a 15,000-square-meter shopping promenade filled with the world's top luxury boutiques, and a 7,500-square-meter meetings and events center. About Chef's Table Chef's Table premiered on Netflix in 2015 as an American docuseries featuring culinary stars around the world. Emmy Award-winning and the longest-running original series on Netflix, Chef's Table has captivated millions of viewers with its uniquely intimate portrayals of passionate chefs. Building on its first 10 years, Chef's Table enters a new chapter of growth to broaden its reach through brand partnerships with industry-leading companies, and the launch of Chef's Table: Talks, a podcast hosted by David Gelb.
WYNN Free Cash Flow
Wynn Resorts Ltd generated $691.76M in trailing twelve-month free cash flow, representing an FCF yield of 6.73%. This strong FCF yield suggests the company generates substantial cash relative to its market value.
WYNN Shares Outstanding
Wynn Resorts Ltd has 0.10 billion shares outstanding at a share price of $98.54, giving it a market capitalization of $10.28B.