Is the business good?
How good a business is WYNN?
Wynn Resorts earns 10% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
10%
Return on invested capital · cost of capital 9.0% · 1.3 points above what the capital costs: growth creates value
- Operating margin
- 16%
Operating margin · Resorts & Casinos median 15% · 12 months to Q2 2026
- Cash conversion
- 1.76×
Cash conversion · 1.94× a year ago · every dollar of reported profit arrived as cash, and more
- Share count, year on year
- −0.77%
Share count, year on year · flat: no meaningful dilution
| Year | Operating margin |
|---|---|
| FY2020 | −59% |
| FY2021 | −10% |
| FY2022 | −2.7% |
| FY2023 | 13% |
| FY2024 | 16% |
| FY2025 | 16% |
Details›
- Operating margin12 months to Q2 2026
- 16%
- Net margin12 months to Q2 2026
- 6.1%
- Free cash flow margin
- 11%
- Revenue, trailing twelve months
- $7.41B
- Free cash flow, trailing twelve months
- $792M
- Net income, trailing twelve months
- $449M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 10%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.