Is MGM Resorts International overvalued or undervalued?

As of 10 October 2025, the valuation grade for MGM Resorts International has moved from fair to expensive, indicating that the stock is overvalued. The company currently has a P/E ratio of 8, a Price to Book Value of 3.04, and an EV to EBITDA of 5.31, which are all relatively low compared to some of its peers. For instance, Wynn Resorts Ltd. has a P/E of 31.93 and an EV to EBITDA of 13.90, while Boyd Gaming Corp. presents a more attractive P/E of 11.80 and an EV to EBITDA of 8.27.
Despite these ratios, MGM's performance has lagged behind the S&P 500, with a year-to-date return of -9.73% compared to the index's 11.41%. Over the past year, the stock has decreased by 20.99%, further reinforcing the notion that it is currently overvalued in the market.