Melco Resorts & Entertainment Limited (MLCO) Income Statement
MLCO 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsMLCO revenue and net income
Where MLCO's revenue goes
2025Each bar shows an amount and its share of revenue. MLCO kept 3.6% of revenue as net income.
MLCO profit margins
MLCO growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +11.3% | +56.4% | +24.5% | +2.7% |
| Gross profit | +14.0% | +87.8% | +58.5% | +4.9% |
| Operating income | +23.9% | — | — | +19.8% |
| Net income | +325.0% | — | — | +5.8% |
| EPS (diluted) | +407.7% | — | — | +7.2% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
MLCO quarterly EPS vs estimates
Melco Resorts & Entertainment beat the analyst EPS estimate in 7 of the last 8 quarters. Next report: November 5, 2026 (estimate $0.07).
MLCO income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.16B | $4.64B | $3.78B | $1.35B | $2.01B | $1.73B | $5.74B | $5.16B | $5.28B | $4.52B |
| Cost of revenue | $3.27B | $2.98B | $2.59B | $1.06B | $1.52B | $1.54B | $3.64B | $3.32B | $3.55B | $3.11B |
| Gross profit | $1.90B | $1.66B | $1.18B | $286.5M | $490.0M | $189.5M | $2.10B | $1.84B | $1.73B | $1.41B |
| Research & development | $7.6M | $5.4M | $1.2M | $1.3M | $30.7M | $25.6M | $57.4M | $23.0M | $31.1M | $95,000 |
| Sales, general & admin | $752.7M | $656.9M | $510.8M | $423.2M | $426.4M | $485.9M | $642.6M | $500.6M | $467.1M | $446.6M |
| Total operating expenses | $1.30B | $1.18B | $1.12B | $1.03B | $1.07B | $1.13B | $1.35B | $1.22B | $1.12B | $1.04B |
| Operating income | $600.4M | $484.6M | $65.0M | −$743.1M | −$577.5M | −$940.6M | $747.7M | $626.8M | $607.6M | $363.1M |
| Interest income | $8.5M | $15.8M | $27.3M | $26.5M | $6.6M | $5.1M | $9.3M | $5.5M | $3.6M | $6.0M |
| Interest expense | $472.9M | $486.7M | $496.8M | $383.1M | $361.6M | $348.8M | $312.8M | $269.5M | $261.8M | $279.4M |
| Income before taxes | $148.3M | −$6.3M | −$401.9M | −$1.09B | −$953.6M | −$1.46B | $402.6M | $353.4M | $315.3M | $75.1M |
| Income taxes | $2.8M | $21.6M | $13.4M | $5.2M | $2.9M | −$2.9M | $8.3M | −$445,000 | −$10,000 | $8.2M |
| Net income | $185.0M | $43.5M | −$326.9M | −$930.5M | −$811.8M | −$1.26B | $373.2M | $351.5M | $347.0M | $175.9M |
| EBITDA | $1.16B | $1.02B | $816.0M | −$217.6M | −$23.2M | −$300.0M | $1.37B | $1.18B | $1.12B | $906.7M |
| EPS (diluted) | $0.66 | $0.13 | −$0.54 | −$1.99 | −$1.61 | −$2.51 | $0.96 | $0.89 | $0.92 | $0.39 |
| Gross margin | 36.7% | 35.9% | 31.4% | 21.2% | 24.3% | 11.0% | 36.6% | 35.7% | 32.8% | 31.1% |
| Operating margin | 11.6% | 10.4% | 1.7% | −55.0% | −28.7% | −54.4% | 13.0% | 12.2% | 11.5% | 8.0% |
| Net margin | 3.6% | 0.9% | −8.7% | −68.9% | −40.3% | −73.1% | 6.5% | 6.8% | 6.6% | 3.9% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.25B | $1.37B | $1.29B | $1.31B | $1.33B | $1.23B | $1.19B | $1.18B | $1.16B | $1.11B | $1.09B | $1.02B |
| Cost of revenue | $948.3M | $997.6M | $818.9M | $801.1M | $871.2M | $773.2M | $778.6M | $742.4M | $741.7M | $710.4M | $899.3M | $632.7M |
| Gross profit | $305.9M | $373.2M | $474.4M | $508.4M | $457.0M | $459.1M | $412.4M | $432.7M | $418.0M | $402.0M | $194.3M | $384.5M |
| Research & development | $1.4M | $1.0M | $1.4M | $996,000 | $1.8M | $3.4M | $1.9M | $1.5M | $1.9M | $138,000 | $1.2M | $0 |
| Sales, general & admin | $227.6M | $179.6M | $192.1M | $185.6M | $158.5M | $154.9M | $186.1M | $140.5M | $149.4M | $131.9M | $129.4M | $130.4M |
| Total operating expenses | $176.6M | $190.6M | $328.0M | $323.9M | $332.3M | $314.3M | $315.4M | $294.1M | $294.3M | $276.7M | $288.7M | $289.8M |
| Operating income | $129.3M | $182.6M | $146.4M | $184.5M | $124.7M | $144.9M | $97.0M | $138.6M | $123.7M | $125.3M | −$94.4M | $94.7M |
| Interest income | $26.2M | $992,000 | $2.9M | $1.1M | $1.7M | $2.9M | $3.2M | $3.8M | $4.3M | $4.5M | $5.5M | $6.1M |
| Interest expense | $112.7M | $113.9M | $116.5M | $113.3M | $120.2M | $121.6M | $119.8M | $123.5M | $123.3M | $125.8M | $130.1M | $132.2M |
| Income before taxes | $18.3M | $78.2M | $31.8M | $62.9M | $21.3M | $32.4M | −$34.9M | $17.6M | $6.8M | $4.2M | −$212.0M | −$34.8M |
| Income taxes | $7.7M | $7.1M | −$14.5M | $845,000 | $11.9M | $4.6M | $5.0M | $4.9M | $8.1M | $3.7M | $14.7M | $2.0M |
| Net income | $22.7M | $77.1M | $60.6M | $74.7M | $17.2M | $32.5M | −$20.3M | $27.3M | $21.4M | $15.2M | −$205.9M | −$16.3M |
| EBITDA | $260.2M | $328.6M | $289.8M | $308.6M | $268.5M | $277.5M | $218.7M | $270.9M | $257.5M | $260.0M | $62.5M | $231.4M |
| EPS (diluted) | $0.06 | $0.21 | $0.14 | $0.21 | $0.23 | $0.08 | −$0.05 | $0.08 | $0.06 | $0.04 | −$0.36 | −$0.02 |
| Gross margin | 24.4% | 27.2% | 36.7% | 38.8% | 34.4% | 37.3% | 34.6% | 36.8% | 36.0% | 36.1% | 17.8% | 37.8% |
| Operating margin | 10.3% | 13.3% | 11.3% | 14.1% | 9.4% | 11.8% | 8.1% | 11.8% | 10.7% | 11.3% | −8.6% | 9.3% |
| Net margin | 1.8% | 5.6% | 4.7% | 5.7% | 1.3% | 2.6% | −1.7% | 2.3% | 1.8% | 1.4% | −18.8% | −1.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in MLCO's financial statements (latest annual report filed March 13, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
MLCO financial results
In fiscal year 2025 (ended December 31, 2025), Melco Resorts & Entertainment reported revenue of $5.2 billion, up 11.3% from the year before. It had net income of $185.0 million (up 325.0%), a net profit margin of 3.6%. Diluted earnings per share came to $0.66. Over five years revenue grew at an average rate of 24.5% a year.
See the MLCO stock overview for the latest quote and news, or the MLCO chart for price history and technical indicators.
MLCO income statement FAQ
What is Melco Resorts & Entertainment's annual revenue?
Melco Resorts & Entertainment reported total revenue of $5.2 billion for fiscal year 2025, which ended on December 31, 2025. That was up 11.3% from $4.6 billion the previous year.
Is Melco Resorts & Entertainment profitable?
Yes. Melco Resorts & Entertainment reported net income of $185.0 million in fiscal 2025, a net profit margin of 3.6%; its operating margin was 11.6%.
What is Melco Resorts & Entertainment's gross margin?
Melco Resorts & Entertainment's gross margin was 36.7% in fiscal 2025: for every $100 of revenue, Melco Resorts & Entertainment kept $37 after the direct cost of its products and services.
How much does Melco Resorts & Entertainment spend on research and development?
Melco Resorts & Entertainment spent $7.6 million on research and development in fiscal 2025, 0.1% of revenue.
How fast is Melco Resorts & Entertainment growing?
Revenue grew 24.5% a year on average over the last five fiscal years, from $1.7 billion to $5.2 billion.
What are Melco Resorts & Entertainment's earnings per share?
Melco Resorts & Entertainment earned $0.66 per diluted share in fiscal 2025, compared with $0.13 a year earlier.
When will Melco Resorts & Entertainment report its next earnings?
Melco Resorts & Entertainment is expected to report results for the quarter ending September 30, 2026 on November 5, 2026 before the market opens.
When does Melco Resorts & Entertainment's fiscal year end?
Melco Resorts & Entertainment's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 13, 2026.