Computed from published fixed rules, not a model's judgement — though one input, the count of high-severity risks, comes from the AI analysis below.
Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →
AI Takeaway
Wynn Resorts reported FY2025 net income of $327.3M, down 34.7% year-over-year, as a sharp increase in investing cash outflows and elevated debt load weighed on results despite relatively stable operating income of $1.12B.
EPS (Diluted)
$3.14
-27.82% YoY
Operating Income
$1.12B
-1.27% YoY
Source: SEC XBRL
Wynn Resorts (WYNN) generated $1.35B of operating cash flow in FY2025, down 5.2% year over year.
Last 4 quarters: 1 beat
| Quarter | Actual EPS (USD) | Consensus (USD) | Result |
|---|---|---|---|
| Jun 2026 | 1.24 | 1.13 | Beat +9.4% |
| Mar 2026 | 1.25 | 1.28 | Miss -2.3% |
| Dec 2025This filing | 1.17 | 1.50 | Miss -22.2% |
| Sep 2025 | 0.86 | 1.19 | Miss -27.9% |
Reported EPS of $1.17 versus the $1.50 analyst consensus — a -22.2% miss for Dec 2025.
Compiled by AI from this SEC filing
Operating income declined modestly by 1.3% to $1.12B in FY2025 from $1.13B in the prior year, suggesting core casino and resort operations held up reasonably well despite macro headwinds.
Source: 10-K Income Statement (XBRL Financial Data)
Net income fell 34.7% to $327.3M from $501.1M, indicating significant below-the-line pressures such as higher interest expense on $10.5B of long-term debt and/or unfavorable non-operating items.
Source: 10-K Income Statement (XBRL Financial Data)
Selling, general and administrative expenses increased 3.4% to $1.12B, reflecting ongoing cost inflation and investment in operations that compressed margins relative to revenue.
Source: 10-K Income Statement (XBRL Financial Data)
Investing cash outflows surged to -$1.66B in FY2025 from just -$83.6M in the prior year, a 1,883% increase, signaling major capital expenditure or acquisition activity that substantially reduced the company's cash balance.
Source: 10-K Cash Flow Statement (XBRL Financial Data)
Cash and equivalents fell 39.7% to $1.46B from $2.43B, driven by heavy investing outflows and continued shareholder returns including $380.1M in share buybacks and $174.7M in dividends paid.
Source: 10-K Balance Sheet & Cash Flow Statement (XBRL Financial Data)
Compiled by AI from this SEC filing · 3 high, 2 medium, 0 low
Wynn carries $10.55B in long-term debt against negative stockholders' equity of -$275.5M, resulting in a debt-to-equity ratio of approximately -51.3x. This extreme leverage means the company is highly sensitive to interest rate changes and refinancing risk, and leaves little cushion in a revenue downturn.
Source: 10-K Balance Sheet (XBRL Financial Data)
Stockholders' equity deteriorated further to -$275.5M from -$224.2M, meaning total liabilities of $14.1B exceed total assets of $13.1B. This technical insolvency on a book basis could limit access to capital markets and trigger covenant concerns.
Source: 10-K Balance Sheet (XBRL Financial Data)
The combination of $1.66B in investing outflows, $380.1M in share buybacks, and $174.7M in dividends caused cash to drop nearly 40% in one year to $1.46B. Sustained capital intensity at this level without proportional revenue growth could pressure liquidity.
Source: 10-K Cash Flow Statement (XBRL Financial Data)
The 34.7% drop in net income versus only a 1.3% drop in operating income highlights that below-the-line costs — primarily interest on $10.5B of debt — are consuming a large share of operating profit. Any increase in benchmark interest rates would further compress net earnings.
Source: 10-K Income Statement & Balance Sheet (XBRL Financial Data)
Basic EPS fell 30.7% to $3.16 and diluted EPS fell 27.8% to $3.14, even as the company spent $380.1M on share buybacks. This suggests earnings deterioration is outpacing the benefit of share count reduction, which may disappoint income-focused investors.
Source: 10-K Income Statement & Cash Flow Statement (XBRL Financial Data)
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Operating Income $B | 1.12 $B | 1.13 $B | -1.27% |
Net Income $M | 327.33 $M | 501.08 $M | -34.67% |
EPS (Basic) $ | 3.16 $ | 4.56 $ | -30.70% |
EPS (Diluted) $ | 3.14 $ | 4.35 $ | -27.82% |
SG&A Expense $B | 1.12 $B | 1.08 $B | +3.38% |
Answers draw on this SEC filing and the data on this page
Wynn Resorts' net income jumped 111.5% in Q2 FY2026, driven by strong Macau mass-market gaming and a $43.3 million derivative gain, but negative equity and high debt remain key concerns.
Wynn Resorts delivered strong Q1 FY2026 results with net income surging 65.6% YoY to $120.5M and operating income rising 5.2% to $282.6M, driven by disciplined cost management and improved profitability despite a significant decline in cash reserves.
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