Wynn Resorts, Limited (WYNN) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+272.9%

$291.68

vs $78.22 price

Levered DCF

-$36.21

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

1.08

Distress zone

Rating

C-

Overall 1 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	38.08×	18.89×	14.04×	-22.11×	-12.81×	-5.82×	47.56×	18.05×
P/B	-45.29×	-42.27×	-40.78×	-12.48×	-45.12×	-34.22×	8.5×	5.18×
P/S	1.75×	1.33×	1.57×	2.49×	2.57×	5.75×	2.24×	1.57×
EV / EBITDA	13.24×	9.65×	12.03×	30.24×	61.94×	-45.29×	15.08×	10.14×
Gross margin	32.7%	43.5%	43.2%	36.4%	32.0%	16.8%	38.5%	39.2%
Operating margin	16.2%	15.9%	12.9%	-2.7%	-10.5%	-58.8%	13.3%	11.1%
Net margin	4.6%	7.0%	11.2%	-11.3%	-20.1%	-98.6%	1.9%	8.7%
Current ratio	1.63×	1.9×	1.93×	2.22×	2.23×	2.03×	1.44×	1.4×
Debt / equity	-44.62×	-54.27×	-53.19×	-18.29×	-56.2×	-37.47×	6.06×	4.63×
Interest coverage	1.85×	1.65×	1.12×	-0.15×	-0.65×	-2.21×	2.12×	1.96×
Dividend yield	1.4%	1.5%	0.8%	0.0%	0.0%	0.9%	3.8%	5.4%
Payout ratio	53.4%	27.9%	11.6%	-0.3%	-0.2%	-5.3%	460.6%	97.5%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-118.8%	-223.5%	-290.4%	56.5%	352.5%	587.3%	7.1%	28.7%
Return on invested capital	7.7%	9.8%	6.7%	-0.8%	-3.5%	-9.8%	4.6%	6.6%
Return on assets	2.4%	3.9%	5.2%	-3.2%	-6.0%	-14.9%	0.9%	4.4%
Free cash flow yield	5.5%	10.6%	7.2%	-4.5%	-5.9%	-11.3%	-1.1%	-6.1%
Earnings yield	2.6%	5.3%	7.1%	-4.5%	-7.8%	-17.2%	0.8%	5.5%
Enterprise value	$23.3B	$19.2B	$20.7B	$19.5B	$19.2B	$21.8B	$23B	$17.7B
Net debt / EBITDA	6.15×	4.89×	6.08×	15.67×	30.73×	-20.21×	5.38×	4.12×
Cash conversion cycle (days)	9	5	6	2	5	18	4	-8