Latest Ratios: P/E Ratio 30.7x · EV/EBITDA 11.7x · ROE N/A. (2002–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $10.0B | $12.5B | $9.5B | $10.3B | $9.4B | $9.7B | $12.0B | $14.9B | $10.6B | $17.3B | $8.8B |
| Enterprise Value | $20.8B | $23.4B | $19.2B | $20.8B | $19.5B | $19.2B | $21.8B | $23.1B | $17.8B | $24.1B | $16.5B |
| P/E Ratio → | 30.68 | 38.32 | 19.81 | 14.42 | — | — | — | 47.72 | 18.12 | 23.16 | 36.35 |
| P/S Ratio | 1.40 | 1.76 | 1.33 | 1.57 | 2.49 | 2.57 | 5.75 | 2.25 | 1.58 | 2.74 | 1.97 |
| P/B Ratio | — | — | — | — | — | — | — | 9.64 | 5.83 | 16.04 | 34.17 |
| P/FCF | 14.45 | 18.12 | 9.47 | 13.88 | — | — | — | — | — | 18.65 | — |
| P/OCF | 7.39 | 9.27 | 6.66 | 8.24 | — | — | — | 16.49 | 11.01 | 9.22 | 9.08 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.27 | 2.70 | 3.18 | 5.18 | 5.10 | 10.38 | 3.49 | 2.65 | 3.82 | 3.69 |
| EV / EBITDA | 11.72 | 13.15 | 10.74 | 13.60 | 32.88 | 59.74 | — | 15.35 | 13.71 | 15.00 | 17.79 |
| EV / EBIT | 18.00 | 20.51 | 14.45 | 20.03 | — | — | — | 25.57 | 14.84 | 22.85 | 30.20 |
| EV / FCF | — | 33.76 | 19.17 | 28.05 | — | — | — | — | — | 26.01 | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 32.7% | 32.7% | 43.5% | 43.2% | 36.4% | 32.0% | 16.8% | 38.5% | 39.2% | 37.2% | 37.9% |
| Operating Margin | 16.2% | 16.2% | 15.9% | 12.9% | -2.7% | -10.5% | -58.8% | 13.3% | 11.1% | 16.7% | 11.7% |
| Net Profit Margin | 4.6% | 4.6% | 7.0% | 11.2% | -11.3% | -20.1% | -98.6% | 1.9% | 8.7% | 11.8% | 5.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | — | — | — | — | -514.1% | 7.3% | 40.4% | 111.8% | 173.0% |
| ROA | 2.5% | 2.5% | 3.7% | 5.3% | -3.3% | -5.7% | -14.9% | 0.9% | 4.5% | 6.1% | 2.2% |
| ROIC | 9.3% | 9.3% | 9.4% | 7.1% | -0.9% | -3.4% | -9.9% | 7.0% | 6.6% | 10.0% | 5.2% |
| ROCE | 9.9% | 9.9% | 9.8% | 7.2% | -0.9% | -3.4% | -10.3% | 7.6% | 6.8% | 9.9% | 5.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | — | — | — | — | 6.85 | 5.19 | 8.93 | 39.26 |
| Debt / EBITDA | 6.92 | 6.92 | 6.79 | 8.75 | 23.21 | 37.49 | — | 7.03 | 7.26 | 5.99 | 10.93 |
| Net Debt / Equity | — | — | — | — | — | — | — | 5.33 | 3.97 | 6.33 | 29.75 |
| Net Debt / EBITDA | 6.09 | 6.09 | 5.44 | 6.87 | 17.04 | 29.64 | — | 5.46 | 5.55 | 4.24 | 8.28 |
| Debt / FCF | — | 15.64 | 9.70 | 14.16 | — | — | — | — | — | 7.36 | — |
| Interest Coverage | 1.82 | 1.82 | 1.93 | 1.38 | -0.08 | -0.67 | -2.17 | 2.18 | 3.14 | 2.72 | 1.89 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.63 | 1.63 | 1.90 | 1.93 | 2.22 | 2.23 | 2.03 | 1.44 | 1.40 | 1.77 | 2.11 |
| Quick Ratio | 1.58 | 1.58 | 1.85 | 1.89 | 2.19 | 2.18 | 1.99 | 1.40 | 1.37 | 1.74 | 2.05 |
| Cash Ratio | 1.26 | 1.26 | 1.58 | 1.69 | 2.02 | 1.96 | 1.85 | 1.19 | 1.18 | 1.54 | 1.85 |
| Asset Turnover | — | 0.53 | 0.55 | 0.47 | 0.28 | 0.30 | 0.15 | 0.48 | 0.51 | 0.50 | 0.37 |
| Inventory Turnover | 54.27 | 54.27 | 53.13 | 49.09 | 34.10 | 36.57 | 26.30 | 45.95 | 61.33 | 55.33 | 30.30 |
| Days Sales Outstanding | — | 21.24 | 16.59 | 19.09 | 20.99 | 19.34 | 34.86 | 19.13 | 15.03 | 12.97 | 17.89 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.7% | 1.4% | 1.5% | 0.8% | 0.0% | 0.0% | 0.9% | 3.8% | 5.4% | 1.9% | 3.7% |
| Payout Ratio | 53.4% | 53.4% | 27.9% | 11.6% | — | — | — | 460.6% | 97.5% | 42.9% | 134.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.3% | 2.6% | 5.0% | 6.9% | — | — | — | 2.1% | 5.5% | 4.3% | 2.8% |
| FCF Yield | 6.9% | 5.5% | 10.6% | 7.2% | — | — | — | — | — | 5.4% | — |
| Buyback Yield | 3.8% | 3.0% | 4.2% | 2.1% | 2.0% | 0.1% | 0.1% | 0.5% | 1.5% | 0.1% | 0.2% |
| Total Shareholder Yield | 5.5% | 4.4% | 5.7% | 2.9% | 2.0% | 0.2% | 1.0% | 4.3% | 6.9% | 2.0% | 3.8% |
| Shares Outstanding | — | $104M | $110M | $113M | $114M | $114M | $107M | $107M | $107M | $103M | $102M |
High Leverage and Geopolitical Exposure
According to current market data, WYNN trades at a forward P/E of 21.48, which appears to price in a recovery trajectory that may be overly optimistic given the company's recent volatility in earnings and the significant geopolitical risks inherent in its Macau-heavy revenue concentration.
The current EV/EBITDA multiple of 11.96 suggests that investors are paying a premium for the company's luxury brand equity compared to more diversified peers. However, this valuation warrants caution as it assumes a stable return to historical growth rates that may be challenged by ongoing regulatory shifts and capital-intensive expansion projects in the Middle East.
Based on reported figures, WYNN's ROIC has languished at approximately 2.2% in 2026Q1, a level that significantly trails the company's cost of capital and suggests that the massive investment in physical assets is failing to generate adequate incremental returns for shareholders.
The persistent low ROIC reflects the high capital intensity required to maintain five-star standards across global properties. Investors should monitor whether the shift toward direct-to-consumer premium play can eventually drive higher returns or if the current asset-heavy model will continue to dilute long-term capital efficiency.
As indicated by recent financial statements, the company's cash conversion cycle has remained tight, hovering around 9 days in 2026Q1, which demonstrates effective management of receivables and payables despite the inherent complexities of operating high-end gaming and hospitality services across multiple international jurisdictions.
While the cash conversion cycle is efficient, the low asset turnover of 0.14 highlights the structural challenge of the business model, where revenue generation is heavily dependent on massive, slow-moving physical infrastructure. This suggests that operational improvements in working capital have limited impact on the overall return profile.
According to quarterly balance sheet reports, the current ratio has declined to 1.24 in 2026Q1, signaling that the company's liquidity cushion is narrowing as it balances debt-servicing obligations with the capital requirements of new, unproven projects like the Wynn Al Marjan Island development.
The reduction in liquidity is particularly concerning given the company's high fixed-cost base and sensitivity to sudden shifts in gaming volume. A current ratio near 1.24 leaves little margin for error should the company face a prolonged period of negative free cash flow or unexpected regulatory headwinds.
As noted in industry research, the EV/EBITDA multiple is frequently misapplied to WYNN because it fails to account for the 'Hold Normalization' effect, which can artificially inflate or deflate earnings based on statistical variance in gaming outcomes rather than true operational performance.
Analysts should instead focus on hold-normalized EBITDA to strip away the noise of house luck, which provides a more accurate picture of underlying demand. Relying on headline EBITDA can lead to a distorted view of the company's actual earning power and its ability to cover interest expenses.
Includes 30+ ratios · 24 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying WYNN stock.
Wynn Resorts, Limited's current P/E ratio is 30.7x. The historical average is 31.7x. This places it at the 63th percentile of its historical range.
Wynn Resorts, Limited's current EV/EBITDA is 11.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 21.9x.
Based on historical data, Wynn Resorts, Limited is trading at a P/E of 30.7x. This is at the 63th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Wynn Resorts, Limited's current dividend yield is 1.74% with a payout ratio of 53.4%.
Wynn Resorts, Limited has 32.7% gross margin and 16.2% operating margin. Operating margin between 10-20% is typical for established companies.
Wynn Resorts, Limited's Debt/EBITDA ratio is 6.9x, indicating high leverage. A ratio above 4x may signal elevated financial risk.