Wynn Resorts, Limited (WYNN)
NEUTRALFundamental
62
मूल्य
$98.61
मार्केट कैप
$10.40B
भाग 1 · कंपनी का मूल्य कितना है
अवलोकन
Wynn Resorts designs, builds and operates luxury casino resorts, with properties in Macau, Las Vegas and, since 2019, near Boston. Revenue comes from casino gaming — table games and slot machines — plus hotel rooms, restaurants, retail and entertainment at the same resorts. Its Macau operations run under a government concession to operate casinos through 2032, while Nevada and Massachusetts gaming licenses govern the two US properties. Roughly half of group revenue now comes from Macau.
यह पैसा कैसे कमाती है
Casino revenue is the largest piece and the most volatile: it depends on how much high rollers wager and how the house edge plays out over a period, so results swing quarter to quarter even when visitor numbers hold steady. Hotel, dining, retail and entertainment revenue is steadier and depends on occupancy and room rates. Because resorts are capital-intensive with high fixed costs, small swings in gaming volume move profit far more than they move revenue.
सेगमेंट के अनुसार राजस्व
Wynn Palace and Wynn Macau, two integrated casino resorts on the Cotai Strip and the peninsula, generating the largest share of group revenue.
Wynn Las Vegas and Encore, a single integrated resort on the Las Vegas Strip combining casino, hotel, dining and convention space.
A single casino resort on Boston Harbor, opened in 2019, serving the New England gaming market.
प्रतिस्पर्धी बढ़त (Moat)
पेटेंट और लाइसेंस · संकीर्णCasino resorts of this scale require a government concession or license granted to only a handful of operators — six in Macau, a limited set in Nevada and Massachusetts — which keeps new entrants out. But it cuts both ways: the same concession can be modified, taxed more heavily, or not renewed, and Wynn already competes hard against the other five Macau operators for the same premium players.
मांग को क्या चलाता है
चक्रीयCasino spending is discretionary and tied to disposable income, business and leisure travel, and, in Macau, the willingness of mainland Chinese visitors to travel and wager. Wynn's own filings flag vulnerability to economic slowdowns and travel restrictions; the pandemic-era closures of its Macau properties showed how quickly that revenue can approach zero.
प्रमुख जोखिम
- Gaming licenses can be limited or revoked — Wynn operates under extensive regulatory oversight in Macau, Nevada and Massachusetts. Gaming concessions and licenses could be modified, suspended or revoked, potentially halting operations at a property.
- Cash flow concentrated in a handful of properties — The company states that virtually all of its cash flow comes from a handful of large properties in Macau, Las Vegas and Boston, so a downturn or regulatory change in any one region can disproportionately affect overall results.
- Macau-specific regulatory constraints — Wynn Macau must obtain government approval for major corporate decisions and meet investment plan requirements, and faces a gaming tax of 35% plus up to 5% in public-interest contributions, limiting operating flexibility.
- Dependence on discretionary travel spending — Operations depend significantly on discretionary consumer spending and international travel patterns, making results vulnerable to economic slowdowns or travel restrictions.
ग्राहक Concentration
Wynn does not disclose a customer concentration percentage, but its own risk factors describe heavy dependence on a relatively small number of high-end 'premium' credit players in Macau, whose wagering swings materially move results.
खरीदने के पक्ष में तर्क
Buyers argue that Macau's gaming market is recovering toward pre-pandemic levels, that Wynn's brand travels well with premium mass-market players, and that a limited number of licensed operators in each jurisdiction protects pricing and margins once a resort is built and running.
बेचने के पक्ष में तर्क
Sellers fear that nearly all of Wynn's cash flow comes from a handful of properties in three jurisdictions, so a policy shift in Macau, a Nevada regulatory action, or a downturn in high-end discretionary travel would hit results with little offsetting diversification, and that heavy dependence on premium credit players adds volatility to reported earnings.
Written by the editors, published on 18 अगस्त 2026
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बैलेंस शीट और तरलता
राजस्व
$7.41B
पिछले 12 महीने (30/6/2026 तक)
शुद्ध आय
$449M
पिछले 12 महीने (30/6/2026 तक)
Free Cash Flow
$692M
कुल इक्विटी
$-275M
कुल देनदारियाँ
$14.14B
Current Ratio
0.91
Interest Coverage
1.89
Debt/EBITDA
7.10
Earnings Per Share
राजस्व और शुद्ध आय
Free Cash Flow
आय विवरण
ऐतिहासिक विवरण
समय के साथ मार्जिन
समय के साथ ऋण
ऋण कितना भारी है
वृद्धि तालिका
वृद्धि — राजस्व
Fair Value अनुमान
Fair Value
$139.54
वर्तमान मूल्य
$98.61
Margin of Safety
+29.3%
Fair Value सीमा
$90.70 - $188.38
अनुमान विधियाँ
मूल्यांकन मेट्रिक्स
P/E Ratio
23.84
ROE
-118.8%
P/B Ratio
-
P/FCF
12.93
Gross Margin
-
ROIC
9.0%
लाभप्रदता Radar
Value Creation (Economic Moat)
ROIC
9.0%
WACC
6.7%
ROIC − WACC
+2.3 pp
ROIC exceeds the cost of capital — the company is creating value for shareholders.
Fundamental विश्लेषण मानदंड
पास (14)
- EPS shows upward trend
- ROIC 9.0%
- P/FCF 12.93
- Operating Margin 15.7%
- Positive Free Cash Flow
- Current Ratio
- Interest Coverage
- Return on Tangible Assets
- Low reliance on intangibles
- Revenue Growth 5Y 27.8%
- Analyst Consensus 96% Buy
- Earnings Quality (OCF/NI) 3.25
- Share Dilution -9.5%
- Net Margin Trend 6.1% vs 5.5%
फेल (8)
- EPS CAGR 2.94%
- Price CAGR 1.49%
- CapEx intensity
- Debt/EBITDA
- DCF valuation (Fairly valued)
- ROE -244.7%
- Earnings Surprise avg -10.7%
- Piotroski F-Score 4/9
अनुपलब्ध (6)
- Gross Margin NaN%
- P/B Ratio NaN
- Dividend Payout NaN%
- Debt/Equity ratio
- Price below Graham Number
- PEG Ratio (need PE > 0 and growth > 0)
Piotroski F-Score
मिश्रित संकेत: कुछ क्षेत्रों पर ध्यान देना आवश्यक
Earnings गुणवत्ता
उच्च गुणवत्ता: earnings नकदी द्वारा समर्थित
शेयर Dilution
शेयर वापस खरीद रही है। शेयरधारक अनुकूल
प्रशासन
कार्यकारी टीम
| नाम | पद | आयु |
|---|---|---|
| Mr. Craig Scott Billings | CEO & Director | 52 |
| Ms. Jacqui Krum | Executive VP, General Counsel & Secretary | 50 |
| Mr. Craig Jeffrey Fullalove | Chief Financial Officer | 43 |
| Mr. Price Alexander Karr | Senior VP of IR, Corporate Finance & Treasurer | 39 |
| Mr. Michael Weaver | Chief Communications Officer | - |
| Mr. Erik Hansen | Chief Sustainability Officer | - |
| Mr. Brian Gullbrants | Chief Operating Officer - North America | - |
| Ms. Jenny Holaday | President of Encore Boston Harbor | - |
| Mr. Todd-Avery Lenahan | President & Chief Creative Officer of Wynn Design and Development, LLC | - |
| Mr. Max Tappeiner | President of Wynn Al Marjan Island | - |
Audit जोखिम
6
बोर्ड जोखिम
3
मुआवजा जोखिम
4
शेयरधारक अधिकार जोखिम
9
भाग 2 · कीमत और खरीदने का समय
यह हिस्सा यह नहीं बताता कि कंपनी अच्छी है या नहीं: यह तय करने में मदद करता है कि उसे कब खरीदें, जब फंडामेंटल आपको आश्वस्त कर चुके हों। इसमें: तकनीकी विश्लेषण, संभावना, ऐतिहासिक गिरावट, गामा एक्सपोज़र।
Latest News
Recent headlines for WYNN, sourced from Markets Gazette.
- 5/7/2026NEGATIVEWynn Expects ‘Modest Delay’ in Opening of New Middle East Casino
Wynn Resorts Ltd. has announced a 'modest delay' in the opening of its new casino resort in the United Arab Emirates, according to CEO Craig Billings. While specific revised timelines were not provided, the delay suggests potential challenges in project execution or regulatory approvals. Investors will be monitoring for updated guidance on the opening date and any associated cost implications. This news could negatively impact short-term sentiment for Wynn Resorts, as project delays often lead to revised revenue forecasts and increased capital expenditure timelines.
- 5/5/2026NEGATIVEWynn Weighs Delayed Opening of Its UAE Resort Due to Iran War
Wynn Resorts Ltd. is reportedly contemplating a delay in the opening of its highly anticipated integrated resort in the United Arab Emirates. This potential postponement stems from construction setbacks attributed to the ongoing geopolitical tensions and the US military engagement in the region, specifically the war with Iran. The news suggests that supply chain disruptions and logistical challenges are impacting the project's timeline. For investors, this indicates potential cost overruns and a delayed revenue stream from a key growth initiative, casting a shadow over the company's near-term financial outlook.
via Markets Gazette