MGM Resorts International (MGM) is undervalued and Wynn Resorts Ltd (WYNN) is undervalued.
Against our estimates of intrinsic value, WYNN trades at the wider discount: a margin of safety of +53%, against +32% for MGM.
Values as of the 22 Sept 2026 close.
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
Discounting its cash flows at 7.2% (average of 3 methods) values the shares at $176.42; the price of $82.51 is 53% below that value, and 83% of that value comes from beyond year five.
Leak Score 56/100 on 2 of 12 signals
| Metric | MGM | WYNN |
|---|---|---|
| Verdict | Undervalued | Undervalued |
| Price | $38.90 | $82.51 |
| Intrinsic value | $57.32 | $176.42 |
| Margin of safety | +32% | +53% |
| Leak Score | 41/100 (3/12) | 56/100 (2/12) |
| Market cap | $9.8B | $8.5B |
| Revenue growth, 5 years | 27.7% | 27.8% |
| Operating margin | 6.5% | 16.3% |
| Net margin | 2.4% | 6.1% |
| Return on equity | 15.4% | — |
| Debt to equity | 12.00 | — |
| P/E | 23.5x | 19.8x |
| Forward P/E | 19.5x | 16.5x |
| P/B | 3.9x | — |
| Dividend yield | — | 1.3% |