Is MGM Resorts International overvalued or undervalued?

As of 17 October 2025, the valuation grade for MGM Resorts International has moved from attractive to expensive, indicating a shift in perception regarding its market value. The company appears overvalued based on its current metrics, with a P/E ratio of 8, a Price to Book Value of 3.04, and an EV to EBITDA of 5.31. In comparison, peers such as Wynn Resorts Ltd. have a significantly higher P/E ratio of 31.93, while Boyd Gaming Corp. offers a more attractive P/E of 11.80.
The recent stock performance of MGM Resorts has lagged behind the S&P 500, with a year-to-date return of -8.86% compared to the index's 13.30%. This underperformance, coupled with the company's expensive valuation metrics, reinforces the conclusion that MGM Resorts International is currently overvalued.