WYNN RESORTS LTD
WYNN · Hotels & Motels · 103.8M shares · +1%/yr ↑ shares · EDGAR filings ↗
Net buyback after stock comp: $148M (gross $212M, SBC $65M)
Reference price $125.00 · est. market cap ~$13.0B — last insider sale, 2025-09-02 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C68Wide-moat luxury gaming franchise with strong cash generation, but modest asset returns, high leverage and declining earnings hold it back.
Strengths
- Strong FCF $692M (79th pct), $1.46B cash (90th pct) and top-percentile liquidity (current ratio 1.63)
- Durable five-star brand and scaled Macau/Las Vegas/Boston integrated-resort portfolio with positive net income of $327M
Risks
- Net income fell ~35% with only mid-pack ROA (2.5%); negative ROE reflects buyback-driven negative equity, not distress
- High leverage and heavy dependence on Macau/PRC discretionary spending and gaming regulation
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Negative equityNegative book equity (debt/equity -38.25)
- Strong balance sheetStrong balance sheet — $1.5B cash & investments
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Return on equity
-118.8%
Return on assets
2.5%
ROIC
8.6%
Revenue growth (QoQ)
-1.3%
Net-income growth
-34.7%
Debt / equity
-38.2×
Net debt / EBITDA
5.2×
Current ratio
1.6×
Free cash flow
$692M
EBITDA
$1.7B
Tangible book value
-$500M
Cash & investments
$1.5B
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-28 | SATRE PHILIP G | Option exercise | 11K | $81.55 |
| 2026-05-06 | SATRE PHILIP G | Grant | 1.2K | — |
| 2026-05-06 | ATKINS BETSY S | Grant | 1.2K | — |
| 2026-05-06 | STROM DARNELL O. | Grant | 2.4K | — |
| 2026-05-06 | Byrne Richard J | Grant | 2.4K | — |
| 2026-05-06 | Webb Winifred Markus | Grant | 2.4K | — |
| 2026-05-06 | SANFILIPPO ANTHONY MICHAEL | Grant | 2.4K | — |
| 2026-04-06 | Fullalove Craig Jeffrey | Grant | 3.2K | — |
| 2026-04-06 | Fullalove Craig Jeffrey | Grant | 1.1K | — |
| 2026-02-28 | CAMERON-DOE JULIE | Tax withheld | 794 | $108.19 |
| 2026-02-28 | Billings Craig Scott | Tax withheld | 3.3K | $108.19 |
| 2026-02-28 | Billings Craig Scott | Tax withheld | 3.4K | $108.19 |
| 2026-02-28 | Billings Craig Scott | Tax withheld | 3.9K | $108.19 |
| 2026-02-28 | KRUM JACQUI | Tax withheld | 532 | $108.19 |
| 2026-02-28 | CAMERON-DOE JULIE | Tax withheld | 687 | $108.19 |
| 2026-02-28 | CAMERON-DOE JULIE | Tax withheld | 629 | $108.19 |
| 2026-01-12 | CAMERON-DOE JULIE | Tax withheld | 943 | $116.84 |
| 2026-01-12 | Billings Craig Scott | Tax withheld | 4.9K | $116.84 |
| 2026-01-12 | KRUM JACQUI | Tax withheld | 383 | $116.84 |
| 2026-01-09 | KRUM JACQUI | Tax withheld | 270 | $117.83 |
| 2026-01-09 | CAMERON-DOE JULIE | Tax withheld | 1.0K | $117.83 |
| 2026-01-09 | Billings Craig Scott | Tax withheld | 5.1K | $117.83 |
| 2026-01-07 | CAMERON-DOE JULIE | Tax withheld | 2.3K | $116.37 |
| 2026-01-07 | KRUM JACQUI | Grant | 4.8K | — |
| 2026-01-07 | KRUM JACQUI | Tax withheld | 1.2K | $116.37 |
| 2026-01-07 | KRUM JACQUI | Grant | 4.3K | — |
| 2026-01-07 | KRUM JACQUI | Grant | 3.4K | — |
| 2026-01-07 | KRUM JACQUI | Tax withheld | 798 | $116.37 |
| 2026-01-07 | CAMERON-DOE JULIE | Grant | 5.5K | — |
| 2026-01-07 | CAMERON-DOE JULIE | Tax withheld | 1.4K | $116.37 |
| 2026-01-07 | CAMERON-DOE JULIE | Grant | 6.4K | — |
| 2026-01-07 | CAMERON-DOE JULIE | Grant | 5.0K | — |
| 2026-01-07 | CAMERON-DOE JULIE | Option exercise | 5.8K | — |
| 2026-01-07 | CAMERON-DOE JULIE | Tax withheld | 1.2K | $116.37 |
| 2026-01-07 | Billings Craig Scott | Grant | 15K | — |
| 2026-01-07 | Billings Craig Scott | Tax withheld | 4.5K | $116.37 |
| 2026-01-07 | Billings Craig Scott | Grant | 32K | — |
| 2026-01-07 | Billings Craig Scott | Grant | 25K | — |
| 2026-01-07 | Billings Craig Scott | Option exercise | 30K | — |
| 2026-01-07 | Billings Craig Scott | Tax withheld | 5.9K | $116.37 |
| 2026-01-07 | Billings Craig Scott | Tax withheld | 12K | $116.37 |
| 2025-09-15 | KRUM JACQUI | Tax withheld | 2.2K | $122.85 |
| 2025-09-02 | Mulroy Patricia | Option exercise | 4.4K | $68.25 |
| 2025-09-02 | Mulroy Patricia | Sell | 4.4K | $125.00 |
| 2025-05-29 | Mulroy Patricia | Option exercise | 2.3K | $68.25 |
| 2025-05-29 | Mulroy Patricia | Sell | 2.3K | $92.12 |
| 2025-05-13 | Mulroy Patricia | Other | 2.7K | — |
| 2025-05-13 | Mulroy Patricia | Other | 2.7K | — |
| 2025-05-02 | CAMERON-DOE JULIE | Other | 57K | — |
| 2025-05-02 | CAMERON-DOE JULIE | Other | 57K | — |
| 2025-04-30 | SANFILIPPO ANTHONY MICHAEL | Grant | 3.0K | — |
| 2025-04-30 | Byrne Richard J | Grant | 3.1K | — |
| 2025-04-30 | Liu Paul Albert | Grant | 3.1K | — |
| 2025-04-30 | Mulroy Patricia | Grant | 3.1K | — |
| 2025-04-30 | STROM DARNELL O. | Grant | 3.1K | — |
| 2025-04-30 | Webb Winifred Markus | Grant | 3.1K | — |
| 2025-04-30 | SANFILIPPO ANTHONY MICHAEL | Grant | 3.1K | — |
| 2025-04-30 | ATKINS BETSY S | Grant | 1.5K | — |
| 2025-04-18 | CAMERON-DOE JULIE | Tax withheld | 4.5K | $74.77 |
| 2025-04-15 | Billings Craig Scott | Gift | 96K | — |
| 2025-04-15 | Billings Craig Scott | Gift | 96K | — |
| 2025-04-07 | FERTITTA TILMAN J | Buy | 100K | $67.62 |
| 2025-04-04 | FERTITTA TILMAN J | Buy | 100K | $70.31 |
| 2025-04-04 | FERTITTA TILMAN J | Buy | 200K | $70.40 |
| 2025-03-24 | FERTITTA TILMAN J | Other | 1.7M | $85.73 |
| 2025-03-24 | FERTITTA TILMAN J | Buy | 11K | $84.93 |
| 2025-03-21 | FERTITTA TILMAN J | Buy | 5.0K | $80.99 |
| 2025-02-28 | Billings Craig Scott | Tax withheld | 3.4K | $89.32 |
| 2025-02-28 | CAMERON-DOE JULIE | Tax withheld | 689 | $89.32 |
| 2025-02-28 | CAMERON-DOE JULIE | Tax withheld | 629 | $89.32 |
| 2025-02-28 | CAMERON-DOE JULIE | Tax withheld | 687 | $89.32 |
| 2025-02-28 | Billings Craig Scott | Tax withheld | 3.3K | $89.32 |
| 2025-02-28 | Billings Craig Scott | Tax withheld | 3.4K | $89.32 |
| 2025-02-19 | Liu Paul Albert | Buy | 1.6K | $92.44 |
| 2025-02-18 | SATRE PHILIP G | Buy | 22K | $92.18 |
| 2025-01-30 | KRUM JACQUI | Grant | 125 | — |
| 2025-01-30 | KRUM JACQUI | Tax withheld | 61 | $89.60 |
| 2025-01-30 | Whittemore Ellen F | Grant | 272 | — |
| 2025-01-30 | Whittemore Ellen F | Tax withheld | 107 | $89.60 |
| 2025-01-30 | CAMERON-DOE JULIE | Grant | 288 | — |
| 2025-01-30 | CAMERON-DOE JULIE | Tax withheld | 114 | $89.60 |
| 2025-01-30 | Billings Craig Scott | Grant | 758 | — |
| 2025-01-30 | Billings Craig Scott | Tax withheld | 299 | $89.60 |
| 2025-01-12 | Billings Craig Scott | Tax withheld | 4.9K | $81.15 |
| 2025-01-12 | KRUM JACQUI | Tax withheld | 470 | $81.15 |
| 2025-01-12 | KRUM JACQUI | Tax withheld | 409 | $81.15 |
| 2025-01-12 | Whittemore Ellen F | Tax withheld | 1.6K | $81.15 |
| 2025-01-12 | Whittemore Ellen F | Tax withheld | 992 | $81.15 |
| 2025-01-12 | CAMERON-DOE JULIE | Tax withheld | 1.4K | $81.15 |
| 2025-01-12 | CAMERON-DOE JULIE | Tax withheld | 943 | $81.15 |
| 2025-01-12 | Billings Craig Scott | Tax withheld | 6.9K | $81.15 |
| 2025-01-09 | Whittemore Ellen F | Tax withheld | 976 | $81.17 |
| 2025-01-09 | CAMERON-DOE JULIE | Tax withheld | 1.0K | $81.17 |
| 2025-01-09 | KRUM JACQUI | Tax withheld | 274 | $81.17 |
| 2025-01-09 | Billings Craig Scott | Tax withheld | 5.1K | $81.17 |
| 2025-01-07 | Whittemore Ellen F | Grant | 11K | — |
| 2025-01-07 | Whittemore Ellen F | Tax withheld | 4.6K | $82.45 |
| 2025-01-07 | Whittemore Ellen F | Grant | 8.6K | — |
| 2025-01-07 | Whittemore Ellen F | Grant | 11K | — |
| 2025-01-07 | KRUM JACQUI | Grant | 5.3K | — |
| 2025-01-07 | CAMERON-DOE JULIE | Tax withheld | 4.8K | $82.45 |
| 2025-01-07 | CAMERON-DOE JULIE | Grant | 9.1K | — |
| 2025-01-07 | CAMERON-DOE JULIE | Grant | 6.0K | — |
| 2025-01-07 | Billings Craig Scott | Grant | 32K | — |
| 2025-01-07 | Billings Craig Scott | Tax withheld | 13K | $82.45 |
| 2025-01-07 | Billings Craig Scott | Grant | 45K | — |
| 2025-01-07 | Billings Craig Scott | Grant | 30K | — |
| 2025-01-07 | CAMERON-DOE JULIE | Grant | 12K | — |
| 2025-01-07 | KRUM JACQUI | Tax withheld | 2.5K | $82.45 |
| 2025-01-07 | KRUM JACQUI | Grant | 6.1K | — |
| 2025-01-07 | KRUM JACQUI | Grant | 4.1K | — |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-08 | Shareholder vote | filing ↗ |
| 2026-05-07 | ResultsReg FDOtherExhibits | filing ↗ |
| 2026-04-30 | Reg FDExhibits | filing ↗ |
| 2026-03-11 | OtherExhibits | filing ↗ |
| 2026-02-12 | ResultsReg FDOtherExhibits | filing ↗ |
| 2026-01-09 | Exec/director changeReg FDExhibits | filing ↗ |
| 2025-11-06 | ResultsReg FDOtherExhibits | filing ↗ |
| 2025-09-04 | Reg FDExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-08 | 2026-05-06 | 0001174922-26-000037 ↗ |
| 10-Q | 2026-05-07 | 2026-03-31 | 0001174922-26-000035 ↗ |
| 8-K | 2026-05-07 | 2026-05-07 | 0001174922-26-000034 ↗ |
| 8-K | 2026-04-30 | 2026-04-28 | 0001174922-26-000027 ↗ |
| 8-K | 2026-03-11 | 2026-03-11 | 0001174922-26-000017 ↗ |
| 10-K | 2026-03-02 | 2025-12-31 | 0001174922-26-000013 ↗ |
| 8-K | 2026-02-12 | 2026-02-12 | 0001174922-26-000007 ↗ |
| 8-K | 2026-01-09 | 2026-01-07 | 0001174922-26-000004 ↗ |
| 8-K | 2025-11-06 | 2025-11-06 | 0001174922-25-000150 ↗ |
| 10-Q | 2025-11-06 | 2025-09-30 | 0001174922-25-000151 ↗ |
| 8-K | 2025-09-04 | 2025-09-04 | 0001174922-25-000132 ↗ |
| 8-K | 2025-09-03 | 2025-09-02 | 0001174922-25-000130 ↗ |