Melco Resorts & Entertainment Limited (MLCO) Key Metrics
MLCO valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $1.58B
- Enterprise value
- $6.44B
- P/E (TTM)
- 7.0 10-yr median 36.4
- Forward P/E
- 6.0
- PEG ratio
- 0.35
- Price / sales
- 0.3 10-yr median 1.9
- Price / book
- 204.6 10-yr median 4.9
- EV / EBITDA
- 5.3 10-yr median 11.0
- Dividend yield
- —
- Beta
- 0.48
MLCO key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsMLCO valuation Price multiples at each fiscal year-end price.
MLCO returns How much profit the business earns on the capital it uses.
MLCO per-share figures Results divided by the shares outstanding at year-end.
MLCO financial health Debt, liquidity and how easily interest is covered.
MLCO efficiency & capital use Working capital cycle and where the cash goes.
MLCO valuation history
MLCO returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
MLCO debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
MLCO cash returned to shareholders
MLCO price vs earnings per share
MLCO key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $3.03B | $2.51B | $3.89B | $5.33B | $4.87B | $8.85B | $11.63B | $8.91B | $14.48B | $8.08B |
| Enterprise value | $9.03B | $8.82B | $10.35B | $12.23B | $10.25B | $13.20B | $15.00B | $11.73B | $16.83B | $10.18B |
| P/E ratio | 16.4 | 57.6 | — | — | — | — | 31.2 | 25.3 | 41.7 | 46.0 |
| Price / sales | 0.6 | 0.5 | 1.0 | 4.0 | 2.4 | 5.1 | 2.0 | 1.7 | 2.7 | 1.8 |
| Price / book | — | — | — | — | 19.9 | 8.0 | 4.8 | 4.2 | 5.0 | 2.4 |
| Price / free cash flow | 6.4 | 7.7 | 10.8 | — | — | — | 30.1 | 23.1 | 22.4 | 12.4 |
| Price / operating cash flow | 3.7 | 4.0 | 6.2 | — | — | — | 13.9 | 8.4 | 12.5 | 7.0 |
| EV / sales | 1.7 | 1.9 | 2.7 | 9.1 | 5.1 | 7.6 | 2.6 | 2.3 | 3.2 | 2.3 |
| EV / EBITDA | 7.8 | 8.6 | 12.7 | — | — | — | 11.0 | 10.0 | 15.1 | 11.2 |
| EV / free cash flow | 19.0 | 27.1 | 28.8 | — | — | — | 38.8 | 30.4 | 26.0 | 15.7 |
| Earnings yield | 6.1% | 1.7% | −8.4% | −17.4% | −16.7% | −14.3% | 3.2% | 3.9% | 2.4% | 2.2% |
| Free cash flow yield | 15.7% | 13.0% | 9.2% | −23.3% | −19.5% | −15.0% | 3.3% | 4.3% | 4.5% | 8.0% |
| Dividend yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.9% | 2.6% | 3.0% | 5.7% | 4.8% |
| Shareholder yield (dividends + buybacks) | 5.5% | 4.5% | 4.4% | 3.6% | 1.4% | 1.4% | 2.6% | 12.6% | 5.7% | 14.7% |
| Share price at fiscal year-end | $7.57 | $5.79 | $8.87 | $11.50 | $10.18 | $18.55 | $24.17 | $17.62 | $29.04 | $15.90 |
| Per share | ||||||||||
| Revenue per share | $12.89 | $10.71 | $8.62 | $2.91 | $4.21 | $3.62 | $11.92 | $10.21 | $10.60 | $8.89 |
| Earnings per share | $0.46 | $0.10 | −$0.75 | −$2.01 | −$1.70 | −$2.65 | $0.78 | $0.70 | $0.70 | $0.35 |
| Operating cash flow per share | $2.04 | $1.45 | $1.42 | −$1.34 | −$0.56 | −$1.80 | $1.74 | $2.09 | $2.33 | $2.28 |
| Free cash flow per share | $1.19 | $0.75 | $0.82 | −$2.68 | −$1.98 | −$2.78 | $0.80 | $0.76 | $1.30 | $1.28 |
| Cash per share | $2.55 | $2.65 | $2.99 | $3.91 | $3.46 | $3.68 | $3.00 | $3.02 | $3.02 | $3.76 |
| Book value per share | −$3.11 | −$3.06 | −$2.94 | −$1.83 | $0.51 | $2.31 | $5.07 | $4.21 | $5.79 | $6.58 |
| Tangible book value per share | −$5.21 | −$5.23 | −$5.15 | −$3.55 | −$1.28 | $0.32 | $2.97 | $2.09 | $3.52 | $4.20 |
| Dividends per share | $0.00 | $0.00 | $0.00 | $0.00 | $0.01 | $0.17 | $0.63 | $0.54 | $1.65 | $0.76 |
| Capex per share | $0.85 | $0.70 | $0.60 | $1.34 | $1.42 | $0.97 | $0.94 | $1.32 | $1.03 | $1.00 |
| Debt per share | $17.53 | $17.21 | $17.73 | $18.79 | $14.72 | $12.78 | $10.01 | $8.60 | $7.73 | $7.89 |
| Shares outstanding | 400.6M | 433.1M | 438.2M | 463.7M | 478.0M | 477.4M | 481.1M | 505.5M | 498.7M | 508.4M |
| Change in shares outstanding | −7.5% | −1.2% | −5.5% | −3.0% | +0.1% | −0.8% | −4.8% | +1.4% | −1.9% | −6.3% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | — | — | — | — | −120.5% | −71.4% | 16.3% | 14.0% | 11.1% | 4.6% |
| Return on invested capital (ROIC) | 12.1% | 7.5% | 0.9% | −10.1% | −8.2% | −13.2% | 13.6% | 12.3% | 11.4% | 5.5% |
| Return on assets (ROA) | 2.4% | 0.5% | −3.7% | −10.2% | −9.1% | −13.7% | 4.1% | 4.0% | 3.8% | 1.8% |
| Return on tangible assets | 2.7% | 0.6% | −4.4% | −10.9% | −10.1% | −15.6% | 4.4% | 4.5% | 4.5% | 2.2% |
| Free cash flow margin | 9.2% | 7.0% | 9.5% | −92.0% | −47.1% | −76.7% | 6.7% | 7.5% | 12.2% | 14.4% |
| Income quality (OCF / net income) | 4.42 | 14.39 | — | — | — | — | 2.24 | 3.01 | 3.35 | 6.58 |
| Financial health | ||||||||||
| Total debt | $7.02B | $7.46B | $7.77B | $8.71B | $7.04B | $6.10B | $4.82B | $4.35B | $3.86B | $4.01B |
| Cash & short-term investments | $1.02B | $1.15B | $1.31B | $1.81B | $1.65B | $1.76B | $1.44B | $1.53B | $1.51B | $1.91B |
| Net debt | $6.00B | $6.31B | $6.46B | $6.90B | $5.38B | $4.34B | $3.37B | $2.82B | $2.35B | $2.10B |
| Debt / equity | — | — | — | — | 28.75 | 5.53 | 1.98 | 2.04 | 1.34 | 1.20 |
| Debt / assets | 0.92 | 0.93 | 0.93 | 0.94 | 0.79 | 0.68 | 0.51 | 0.49 | 0.43 | 0.43 |
| Net debt / EBITDA | 5.15 | 6.17 | 7.91 | — | — | — | 2.47 | 2.40 | 2.10 | 2.32 |
| Current ratio | 1.07 | 1.20 | 1.40 | 1.73 | 1.83 | 1.80 | 1.24 | 0.92 | 1.10 | 1.54 |
| Quick ratio | 1.04 | 1.17 | 1.37 | 1.71 | 1.80 | 1.77 | 1.21 | 0.90 | 1.07 | 1.52 |
| Interest coverage | 1.3 | 1.0 | 0.1 | -1.9 | -1.6 | -2.7 | 2.4 | 2.3 | 2.3 | 1.3 |
| Working capital | $84.9M | $238.3M | $440.7M | $876.0M | $846.9M | $892.6M | $369.2M | −$172.5M | $160.8M | $800.4M |
| Invested capital | $4.76B | $4.98B | $5.17B | $6.05B | $5.63B | $5.45B | $5.81B | $4.95B | $5.24B | $5.44B |
| Tangible asset value | −$1.74B | −$1.88B | −$1.81B | −$1.11B | −$35.0M | $890.8M | $2.13B | $1.68B | $2.21B | $2.61B |
| Net current asset value | −$7.23B | −$7.50B | −$7.63B | −$7.54B | −$6.20B | −$5.17B | −$4.45B | −$4.17B | −$3.71B | −$3.24B |
| Graham number | — | — | — | — | — | — | $9.41 | $8.11 | $9.52 | $7.16 |
| Graham net-net per share | −$18.38 | −$17.67 | −$17.76 | −$16.71 | −$13.29 | −$11.13 | −$9.70 | −$8.58 | −$7.82 | −$6.72 |
| Capital allocation | ||||||||||
| Dividends paid | $78,000 | $344,000 | $314,000 | $196,000 | $6.7M | $79.1M | $301.0M | $271.5M | $821.3M | $385.6M |
| Share buybacks (net) | $166.0M | $113.0M | $170.5M | $192.5M | $61.0M | $45.0M | $0 | $854.9M | $0 | $805.8M |
| Dividend payout ratio | 0.0% | 0.8% | — | — | — | — | 80.7% | 77.2% | 236.7% | 219.2% |
| Dividends + buybacks / free cash flow | 34.9% | 34.8% | 47.6% | — | — | — | 77.9% | 292.0% | 127.1% | 183.3% |
| Capex / revenue | 6.6% | 6.5% | 7.0% | 46.1% | 33.8% | 26.8% | 7.8% | 12.9% | 9.7% | 11.2% |
| Capex / operating cash flow | 41.8% | 48.1% | 42.4% | — | — | — | 53.8% | 63.2% | 44.3% | 43.9% |
| Capex / depreciation | 0.63 | 0.56 | 0.49 | 1.19 | 1.17 | 0.75 | 0.69 | 1.18 | 0.95 | 0.92 |
| Stock-based compensation / revenue | 0.6% | 0.6% | 0.9% | 5.3% | 3.4% | 3.1% | 0.6% | 0.5% | 0.3% | 0.4% |
| R&D / revenue | 0.1% | 0.1% | 0.0% | 0.1% | 1.5% | 1.5% | 1.0% | 0.4% | 0.6% | 0.0% |
| SG&A / revenue | 14.6% | 14.2% | 13.5% | 31.4% | 21.2% | 28.1% | 11.2% | 9.7% | 8.8% | 9.9% |
| Efficiency | ||||||||||
| Days sales outstanding | 9.7 | 9.4 | 7.2 | 15.1 | 16.8 | 43.8 | 19.5 | 18.0 | 14.0 | 20.2 |
| Days of inventory on hand | 3.9 | 3.8 | 3.9 | 9.6 | 8.0 | 9.6 | 4.3 | 4.2 | 3.5 | 3.8 |
| Days payables outstanding | 2.8 | 2.2 | 1.3 | 2.2 | 1.9 | 3.7 | 2.4 | 2.3 | 1.7 | 1.9 |
| Cash conversion cycle (days) | 10.7 | 11.0 | 9.8 | 22.5 | 23.0 | 49.8 | 21.4 | 19.9 | 15.8 | 22.1 |
| Receivables turnover | 37.82 | 38.80 | 50.66 | 24.22 | 21.72 | 8.32 | 18.68 | 20.29 | 26.07 | 18.10 |
| Payables turnover | 128.85 | 162.82 | 280.39 | 167.18 | 196.75 | 98.10 | 155.18 | 161.61 | 212.27 | 188.59 |
| Inventory turnover | 94.18 | 96.16 | 92.80 | 37.98 | 45.53 | 37.87 | 85.81 | 87.49 | 105.13 | 94.82 |
| Asset turnover | 0.66 | 0.57 | 0.43 | 0.15 | 0.22 | 0.19 | 0.62 | 0.58 | 0.58 | 0.46 |
| Average receivables | $136.5M | $119.5M | $74.5M | $55.7M | $92.6M | $207.6M | $307.1M | $254.2M | $202.7M | $249.7M |
| Average payables | $25.4M | $18.3M | $9.2M | $6.4M | $7.7M | $15.7M | $23.4M | $20.5M | $16.7M | $16.5M |
| Average inventory | $34.7M | $30.9M | $27.9M | $28.0M | $33.4M | $40.6M | $42.4M | $37.9M | $33.8M | $32.8M |
| Intangibles / total assets | 11.0% | 11.7% | 11.6% | 8.6% | 9.6% | 10.5% | 10.6% | 12.0% | 12.7% | 13.0% |
Computed from MLCO's annual financial statements (latest annual report filed March 13, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
MLCO valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Melco Resorts & Entertainment traded at 16.4 times earnings, against a 10-year median of 36.4. Based on the latest twelve months, the trailing P/E is 7.0 and the forward P/E is 6.0. Melco Resorts & Entertainment earned a return on invested capital of 12.1% in fiscal 2025. It ended the year with $7.0 billion of debt and $1.0 billion in cash and short-term investments, net debt of $6.0 billion. It returned $166.1 million to shareholders: $0.1 million in dividends and $166.0 million in share buybacks, 35% of free cash flow. The share count fell 21.2% from 508.4M to 400.6M over 9 years.
See the MLCO income statement, the MLCO chart for price history, or the MLCO stock overview for the latest quote and news.
MLCO key metrics FAQ
What is Melco Resorts & Entertainment's P/E ratio?
Melco Resorts & Entertainment's trailing P/E ratio is 7.0 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 6.0. At the end of fiscal 2025 it was 16.4, compared with a 10-year median of 36.4.
What is Melco Resorts & Entertainment's EV/EBITDA?
Melco Resorts & Entertainment's enterprise value was 7.8 times EBITDA at the end of fiscal 2025 (enterprise value $9.0 billion, EBITDA $1.2 billion); the current EV/EBITDA is 5.3.
What is Melco Resorts & Entertainment's ROIC?
Melco Resorts & Entertainment's return on invested capital was 12.1% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Melco Resorts & Entertainment have?
Melco Resorts & Entertainment had total debt of $7.0 billion at the end of fiscal 2025 and $6.0 billion of net debt (5.15 times EBITDA).
What is Melco Resorts & Entertainment's dividend yield?
Melco Resorts & Entertainment paid $0.1 million in dividends in fiscal 2025 ($0.00 per share), a payout ratio of 0.0%.
Does Melco Resorts & Entertainment buy back its shares?
Yes. Melco Resorts & Entertainment spent $166.0 million on net share repurchases in fiscal 2025 Shares outstanding changed −7.5% over the year, to 400.6M..
What is Melco Resorts & Entertainment's free cash flow yield?
Melco Resorts & Entertainment generated $476.1 million of free cash flow in fiscal 2025, a free cash flow yield of 15.7% on its market value at year-end ($3.0 billion).
What is Melco Resorts & Entertainment's current ratio?
Melco Resorts & Entertainment's current ratio was 1.07 at the end of fiscal 2025: current assets were 1.07 times current liabilities.