BID TerminalOpen complete report
Research library Consumer

Company report

Wynn Resorts, Limited WYNN

Three-pass checkedFresh as companies report

The bet you're really making is that Wynn finishes a brand new resort on a man-made island north of Dubai, opens it in September 2027, and that it earns real money before the borrowing to build it does damage. Everything else Wynn owns is already finished and running: two resorts in Macau, one on the Las Vegas Strip, one outside Boston. Right now it is mixed. Las Vegas made $215 million last quarter and Macau $297 million, while the opening date slipped a year and the budget went up $600 million. You pay about 20 times last year's profit, the middle of what the stock has cost across the last twelve years it earned anything.

Key data

Price$81.68
52-week range$81.40 to $134.72
P/E, trailing twelve months19.6x
EV/EBITDA9.9x

WYNN · price with moving averages

Daily · 6MWeekly · 3Y
$65$83$100$117$134 Sep '23May '24Dec '24Jul '25Feb '26Sep '26 BID
EMAs82140

Source: market data.

The business

Wynn runs four resorts. Wynn Macau and Wynn Palace sit on either side of the water in Macau and together are the largest piece. Wynn Las Vegas and Encore occupy the north end of the Strip. Encore Boston Harbor is a single property on the Mystic River. A fifth, Wynn Al Marjan Island, is under construction in Ras Al Khaimah in the United Arab Emirates and will be the first casino resort on the Arabian Peninsula.

The moat is the address and the finish. Wynn charges more per room and per table than almost anyone because the buildings are better, and has held that premium for twenty years across three jurisdictions. That is a brand moat in the only form that counts here, the willingness of a wealthy customer to pay more for the same bet.

Inside the complete Company report

  1. 01The business
  2. 02The numbers
  3. 03Management
  4. 04How it fails or surprises you
  5. 05The shape of the payoff
  6. 06Closing thoughts
  7. 07Methodology

Continue with WYNN

Get the complete Company report free.

Choose this as your free complete report. No card required.

Read the complete report

More company research

View all research
NIKE, Inc. NKENIKE pays Elliott Hill to hold sales flat and widen the profit margin, and in fiscal 2026 the profit half of his bonus paid at 125% of target on Adjusted EBIT of $3.3B. He gets there by pushing goods back through wholesale, shrinking Converse and cutting payroll, because the $986M tariff refund that flattered fiscal 2026 does not come twice. Management and incentives Lululemon Athletica Inc. LULUlululemon's compensation committee added $287.4M of cost back to fiscal 2025 operating income before deciding what its executives had earned, and $20.3M of that was the bill for firing the chief executive and for fighting Chip Wilson's proxy contest. That rewritten $2.50B still missed the annual profit bar by $33.0M and paid nothing on that half, while clearing the three-year bar at 134.4% of target. Management and incentives Las Vegas Sands Corp. LVSThe bet you're really making is that Chinese tourists keep flying to Macau and losing money at Sands' tables, and that Sands keeps taking a bigger slice of it than the other five casino operators there. You are betting on the ordinary gambler rather than the whale, because Sands' ordinary-gambler business grew 8% last quarter while the whole Macau market's grew 4%. Right now it is going well with one thing to watch: the Singapore resort is earning more than it ever has, while the high rollers stayed home during the World Cup and the company's own tables ran unusually cold. You pay about 16 times last year's profit, less than the stock has cost in any of the last twelve years the company made money. Company report NIKE, Inc. NKEThe bet you're really making is that Nike can keep selling the same quantity of sneakers while fewer people walk into its stores and open its app. Nike's own shops and website took in $17.7 billion last year against $18.8 billion the year before, and the company says the reason was fewer visitors. Right now it is not going well: sales held flat at $46.4 billion only because Nike pushed $1.6 billion more product into Foot Locker and the other retailers, while China fell 13% and Converse fell 32%. You pay about 17 times last year's profit, less than the stock has cost in any of the last twelve years. Company report