Caesars Entertainment Inc (CZR) is undervalued and MGM Resorts International (MGM) is undervalued.
Against our estimates of intrinsic value, CZR trades at the wider discount: a margin of safety of +80%, against +32% for MGM.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 6.8% (average of 2 methods) values the shares at $145.00; the price of $29.62 is 80% below that value, and 85% of that value comes from beyond year five.
Leak Score 56/100 on 2 of 12 signals
Discounting its cash flows at 6.7% values the shares at $57.32; the price of $38.90 is 32% below that value, and 85% of that value comes from beyond year five.
Leak Score 41/100 on 3 of 12 signals
| Metric | CZR | MGM |
|---|---|---|
| Verdict | Undervalued | Undervalued |
| Price | $29.62 | $38.90 |
| Intrinsic value | $145.00 | $57.32 |
| Margin of safety | +80% | +32% |
| Leak Score | 56/100 (2/12) | 41/100 (3/12) |
| Market cap | $6.0B | $9.8B |
| Revenue growth, 5 years | 25.9% | 27.7% |
| Operating margin | 17.7% | 6.5% |
| Net margin | -4.0% | 2.4% |
| Return on equity | -12.8% | 15.4% |
| Debt to equity | 7.36 | 12.00 |
| P/E | — | 23.5x |
| Forward P/E | 132.3x | 19.5x |
| P/B | 1.8x | 3.9x |