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Arphra AIPlain-English read on Wynn Resorts, Limited’s valuationIncome statement
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Revenue & profit | ||||||||
| Revenue | $3.76B | $3.76B | $6.53B | $7.13B | $7.14B | $7.48B | $7.76B | $8.07B |
| Cost of revenue | $2.56B | $2.39B | $3.71B | $4.03B | $4.8B | $4.6B | $4.57B | $4.92B |
| Gross profit | $1.21B | $1.37B | $2.82B | $3.1B | $2.34B | $3.02B | $3.1B | $3.22B |
| Gross margin | +32.02% | +36.38% | +43.22% | +43.51% | +32.73% | +40.28% | +39.90% | +39.84% |
| Operating | ||||||||
| Research & development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, general & administrative | $796.59M | $830.45M | $1.07B | $1.08B | $1.12B | $1.16B | $1.24B | $1.23B |
| Total operating expenses | $1.6B | $1.47B | $1.98B | $1.97B | $1.18B | $1.85B | $1.98B | $2.05B |
| Operating income | -$394.54M | -$100.68M | $840.17M | $1.13B | $1.16B | $1.09B | $1.18B | $1.21B |
| Operating margin | -10.48% | -2.68% | +12.86% | +15.89% | +16.21% | +14.56% | +15.23% | +14.94% |
| EBITDA | $310.01M | $643.17M | $1.72B | $1.99B | $1.76B | $1.95B | $2.08B | $2.13B |
| EBIT | -$405.95M | -$49.15M | $1.04B | $1.33B | $1.14B | $1.26B | $1.33B | $1.4B |
| Below the line | ||||||||
| Interest expense | $605.56M | $650.89M | $751.51M | $688.41M | $625.56M | $731.67M | $780.69M | $805.92M |
| Interest income | $3.21M | $29.76M | $175.79M | $130.34M | $66.51M | $135.43M | $137.35M | $148.89M |
| Other income / expense | -$616.98M | -$599.36M | -$554.79M | -$489.33M | -$642.74M | — | — | — |
| Pre-tax income | -$1.01B | -$700.04M | $285.38M | $643.4M | $514.14M | $516.51M | $522.61M | $543.35M |
| Income tax expense | $474K | $9.33M | -$496.83M | $3.68M | $105.01M | $53.03M | $55.1M | $59.76M |
| Earnings | ||||||||
| Net income | -$755.79M | -$423.86M | $729.99M | $501.08M | $327.33M | $568.04M | $594.33M | $610.62M |
| Net income · continuing ops | -$1.01B | -$709.37M | $782.22M | $639.72M | $409.14M | $677M | $686.03M | $723.38M |
| Net margin | -20.08% | -11.28% | +11.18% | +7.03% | +4.59% | +7.59% | +7.65% | +7.56% |
| EPS · basic | $-6.64 | $-3.73 | $6.49 | $4.56 | $3.16 | $4.88 | $5.48 | $6.39 |
| EPS · diluted | $-6.64 | $-3.73 | $6.32 | $4.35 | $3.14 | $4.74 | $5.29 | $6.19 |
| EPS · low estimate | — | — | — | — | — | $3.95 | $4.34 | $5.35 |
| EPS · high estimate | — | — | — | — | — | $6.16 | $6.91 | $7.39 |
| Shares · basic | 113.76M | 113.62M | 112.52M | 109.97M | 103.7M | 104.04M | 103.5M | 103.39M |
| Shares · diluted | 113.76M | 113.62M | 112.86M | 110.27M | 104.24M | 103.43M | 103.34M | 104.63M |
| Coverage | ||||||||
| Analysts (revenue) | — | — | — | — | — | 13 | 14 | 10 |
| Analysts (EPS) | — | — | — | — | — | 10 | 8 | 4 |
Coverage notes. Historical figures come’s as-reported income statements / balance sheets / cash flows in our data warehouse. Forecast columns (italicised, faint accent tint) carry vendor-supplied numbers where available (revenue + EPS consensus) and ratio-derived values for every other line. Margins / ratios are the trailing-3y average from history applied to the forecast revenue; values are clamped to enforce P&L identity (gross ≥ operating, EBITDA ≥ operating, net ≤ operating) and balance-sheet identity (assets = liabilities + equity by construction). Cash-flow FCF reconciles to OCF + CapEx. USD conversion uses the period-end close of the issuer's reported/USD pair from forex_prices_daily; share counts stay unconverted.
Financials
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