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MGM Growth Properties LLC (MGP)
Key financial summary
Financials in USD| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | TTM | ||
|---|---|---|---|---|---|---|---|---|
| Total revenue | $m | 468 | 766 | 1,002 | 881 | 793 | 782 | 790 |
| Operating profit | $m | 481 | 508 | |||||
| Net profit | $m | 35 | 42 | 67 | 90 | 76 | 359 | 297 |
| EPS reported | $ | 2.38 | 1.89 | |||||
| Operating cashflow per share | $ | 4.49 | 4.49 | |||||
| Capex per share | $ | 0.00 | 0.00 | |||||
| FCF per share | $ | 4.49 | 4.49 | |||||
| Free cash flow | $m | 679 | 701 | |||||
| Net debt | $m | -4,234 | 4,161 | |||||
| Book value equity | $m | 3,157 | 3,167 | |||||
| Book value per share | $ | 20.88 | 20.17 | |||||
| Number of shares | m | 151.19 | 157 | |||||
| DPS (TTM paid) | $ | 2.06 | 2.09 |
Financial summary
Financials in USD| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | TTM | ||
|---|---|---|---|---|---|---|---|---|
| Value | ||||||||
| P/E TTM | x | 17.16 | - | |||||
| P/B LTM | x | 1.96 | 2.06 | |||||
| P/S LTM | x | 7.90 | 8.28 | |||||
| P/FCF LTM | x | 9.10 | 9.32 | |||||
| EV/EBITDA LTM | x | 12.32 | 12.29 | |||||
| EV/Sales LTM | x | 13.71 | 13.55 | |||||
| Earnings Yield LTM | % | 5.83% | 5.71% | |||||
| FCF Yield | % | 10.99% | 10.73% | |||||
| Quality | ||||||||
| ROE | % | 11.38% | 12.39% | |||||
| ROIC | % | 4.46% | 4.46% | |||||
| Operating margin | % | 61.47% | 61.47% | |||||
| Gross margin | % | 96.98% | 96.98% | |||||
| FCF/Sales | % | 86.82% | 86.82% | |||||
| Growth and momentum | ||||||||
| EPS Growth YoY | % | +303.39% | +35.00% | |||||
| Sales Growth YoY | % | -1.33% | +1.58% | |||||
| Net Income Growth YoY | % | +371.88% | +59.28% | |||||
| FCF Growth | % | -3.51% | +0.78% | |||||
| Operating Profit Growth | % | -6.82% | +0.31% | |||||
| Dividend and capital structure | ||||||||
| Dividend Yield | % | 8.82% | 5.02% | |||||
| Dividend Growth | % | +6.04% | - | |||||
| Payout Ratio | % | 151.68% | 185.81% | |||||
| FCF/Debt | x | 0.15 | 0.16 | |||||
| Net Debt/EBITDA | x | 5.23 | 5.23 | |||||
| EBIT/Net interest | x | 1.81 | 1.81 | |||||
| Net debt/market cap | % | -68.56% | 63.65% | |||||
| Net debt/Equity | x | -1.34 | 1.31 | |||||
| Gross debt/equity | x | 1.44 | 1.42 | |||||
Company overview
MGM Growth Properties LLC, traded publicly as MGP on the NYSE, is a prominent real estate investment trust (REIT). Its primary business involves acquiring, holding, and leasing large-scale entertainment and leisure destination resorts. These properties boast a comprehensive range of offerings, such as casino gambling, hotel accommodations, convention areas, diverse dining establishments, entertainment venues, and retail outlets. Currently, MGP, along with its joint venture, possesses a significant portfolio. This includes a dozen top-tier destination resorts located in various parts of the United States, including Las Vegas. Specific assets in its holdings are MGM Northfield Park in Ohio, Empire Resort Casino in New York, and The Park, an entertainment and retail complex also situated in Las Vegas. By the end of 2019, specifically December 31st, the combined extent of these properties – encompassing the destination resorts, The Park, Empire Resort Casino, and MGM Northfield Park – featured approximately 27,400 hotel rooms, 1.4 million square feet dedicated to casino operations, and 2.7 million square feet for convention facilities. Operating as a public real estate entity focused on expansion, MGP anticipates leveraging its strategic alliance with MGM Resorts and other entertainment providers. This positioning is expected to facilitate the acquisition of further assets across the broad entertainment, hospitality, and leisure sectors.
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For informational purposes only. Kvantra provides data and quantitative analysis, not investment advice. KvantraRank is a mechanical model output. Analyst price targets and ratings are sourced from third parties and are not Kvantra recommendations. Past performance does not guarantee future results; all investments carry risk.
MGM Growth Properties LLC (MGP)
MGM Growth Properties LLC, traded publicly as MGP on the NYSE, is a prominent real estate investment trust (REIT). Its primary business involves acquiring, holding, and leasing large-scale entertainment and leisure destination resorts. These properties boast a comprehensive range of offerings, such as casino gambling, hotel accommodations, convention areas, diverse dining establishments, entertainment venues, and retail outlets. Currently, MGP, along with its joint venture, possesses a significant portfolio. This includes a dozen top-tier destination resorts located in various parts of the United States, including Las Vegas. Specific assets in its holdings are MGM Northfield Park in Ohio, Empire Resort Casino in New York, and The Park, an entertainment and retail complex also situated in Las Vegas. By the end of 2019, specifically December 31st, the combined extent of these properties – encompassing the destination resorts, The Park, Empire Resort Casino, and MGM Northfield Park – featured approximately 27,400 hotel rooms, 1.4 million square feet dedicated to casino operations, and 2.7 million square feet for convention facilities. Operating as a public real estate entity focused on expansion, MGP anticipates leveraging its strategic alliance with MGM Resorts and other entertainment providers. This positioning is expected to facilitate the acquisition of further assets across the broad entertainment, hospitality, and leisure sectors.
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