Melco Resorts & Entertainment LTD
MLCO · Hotels & Motels · EDGAR filings ↗
Grade
C58Recovering Macau/Asia casino operator with strong revenue rebound but negative ROE, thin margins, heavy leverage and binary China exposure.
Strengths
- Revenue +11% (88th pct) and net income +100th pct as Macau visitation and City of Dreams recover
- Top-quartile liquidity ratios and a sizable cash position (73rd pct)
Risks
- Negative ROE (-14.8%, 37th pct), thin net margin (3.6%) and weak interest coverage (1.29x) — leverage-heavy with negative book equity
- Concentrated PRC/Macau regulatory, concession and construction-execution risk plus competitive saturation across Asia
Notable findings
- Negative equityNegative book equity (debt/equity -5.41)
- Strong balance sheetStrong balance sheet — $1.0B cash & investments
Quarterly revenue
Last 2 quarters · from SEC filings.
Key metrics
Operating margin
11.6%
Net margin
3.6%
Return on equity
-14.8%
Return on assets
2.4%
ROIC
8.6%
Revenue growth (QoQ)
12.7%
Net-income growth
325.0%
Debt / equity
-5.4×
Net debt / EBITDA
5.3×
Interest coverage
1.3×
Current ratio
1.1×
EBITDA
$1.1B
Tangible book value
-$1.5B
Cash & investments
$1.0B
Stock comp / revenue
0.6%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-03 | DAVIS GEOFFREY STUART | Tax withheld | 56K | $1.93 |
| 2026-05-08 | TSUI YIU WA ALEC | Grant | 98K | — |
| 2026-05-08 | Chung Clarence YM | Grant | 328K | — |
| 2026-05-08 | Kuzdowicz Amy L. | Grant | 112K | — |
| 2026-05-08 | Wang John Peter Ben | Grant | 98K | — |
| 2026-05-08 | Takahashi Akiko | Grant | 473K | — |
| 2026-05-08 | HO LAWRENCE YAU LUNG | Grant | 4.7M | — |
| 2026-05-08 | WINKLER EVAN ANDREW | Grant | 4.6M | — |
| 2026-05-08 | DAVIS GEOFFREY STUART | Grant | 1.0M | — |
| 2026-05-08 | WINTER GRAHAM PAUL | Grant | 337K | — |
| 2026-05-08 | GALANTE FRANCESCA | Grant | 98K | — |
| 2026-05-08 | WU THOMAS JEFFERSON | Grant | 98K | — |
| 2026-04-06 | DAVIS GEOFFREY STUART | Tax withheld | 116K | $1.89 |
| 2026-04-06 | Takahashi Akiko | Tax withheld | 51K | $1.89 |
| 2026-04-06 | Kuzdowicz Amy L. | Tax withheld | 16K | $1.89 |
| 2026-04-06 | WINTER GRAHAM PAUL | Tax withheld | 12K | $1.89 |
| 2026-04-06 | WINKLER EVAN ANDREW | Tax withheld | 92K | $1.89 |
| 2026-04-02 | Takahashi Akiko | Tax withheld | 33K | $1.89 |
| 2026-04-02 | Kuzdowicz Amy L. | Tax withheld | 20K | $1.89 |
| 2026-04-02 | DAVIS GEOFFREY STUART | Tax withheld | 103K | $1.89 |
| 2026-04-02 | WINTER GRAHAM PAUL | Tax withheld | 17K | $1.89 |
| 2026-04-02 | WINKLER EVAN ANDREW | Tax withheld | 228K | $1.89 |
All non-derivative Form 4 activity (SEC), newest first.
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-03-13 | 2025-12-31 | 0001193125-26-105023 ↗ |
| 20-F | 2025-03-21 | 2024-12-31 | 0001193125-25-059759 ↗ |
| 20-F | 2024-03-22 | 2023-12-31 | 0001193125-24-074554 ↗ |
| 20-F | 2023-03-31 | 2022-12-31 | 0001193125-23-086859 ↗ |
| 20-F | 2022-03-31 | 2021-12-31 | 0001193125-22-090588 ↗ |
| 20-F | 2021-03-31 | 2020-12-31 | 0001193125-21-101281 ↗ |
| 20-F | 2020-03-31 | 2019-12-31 | 0001193125-20-091982 ↗ |
| 20-F | 2019-03-29 | 2018-12-31 | 0001193125-19-091845 ↗ |
| 20-F | 2018-04-12 | 2017-12-31 | 0001193125-18-115018 ↗ |
| 20-F | 2017-04-11 | 2016-12-31 | 0001193125-17-119393 ↗ |
| 20-F | 2016-04-12 | 2015-12-31 | 0001193125-16-537953 ↗ |
| 20-F | 2015-04-15 | 2014-12-31 | 0001193125-15-130190 ↗ |