MGM vs. BYD

Last updated Apr 1, 2026

Compare and contrast key facts about MGM Resorts International (MGM) and Boyd Gaming Corporation (BYD).

Performance

MGM vs. BYD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MGM Resorts International (MGM) and Boyd Gaming Corporation (BYD). The values are adjusted to include any dividend payments, if applicable.

MGM vs. BYD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MGM MGM Resorts International	1.43%	5.31%	-22.45%	33.25%	-25.27%	42.47%	-4.56%	39.69%	-26.16%	17.48%
BYD Boyd Gaming Corporation	-3.35%	18.61%	17.13%	15.99%	-15.74%	52.77%	43.35%	45.51%	-40.25%	74.70%

Fundamentals

Market Cap MGM : $9.96B BYD : $6.46B
EPS MGM : $0.76 BYD : $22.86
PE Ratio MGM : 48.97 BYD : 3.60
PEG Ratio MGM : 0.55 BYD : 0.05
PS Ratio MGM : 0.57 BYD : 1.62
PB Ratio MGM : 4.10 BYD : 2.48
Total Revenue (TTM) MGM : $17.54B BYD : $4.09B
Gross Profit (TTM) MGM : $5.76B BYD : $1.72B
EBITDA (TTM) MGM : $1.99B BYD : $2.79B

Returns By Period

In the year-to-date period, MGM achieves a 1.43% return, which is significantly higher than BYD's -3.35% return. Over the past 10 years, MGM has underperformed BYD with an annualized return of 5.98%, while BYD has yielded a comparatively higher 15.48% annualized return.

MGM

• 1D: 3.90%
• 1M: 0.41%
• YTD: 1.43%
• 6M: 6.78%
• 1Y: 24.87%
• 3Y*: -5.90%
• 5Y*: -1.38%
• 10Y*: 5.98%

BYD

• 1D: 2.51%
• 1M: -1.02%
• YTD: -3.35%
• 6M: -4.50%
• 1Y: 25.99%
• 3Y*: 9.72%
• 5Y*: 6.94%
• 10Y*: 15.48%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

MGM vs. BYD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MGM

MGM Risk / Return Rank: 62
MGM Sharpe Ratio Rank: 64
MGM Sortino Ratio Rank: 62
MGM Omega Ratio Rank: 58
MGM Calmar Ratio Rank: 64
MGM Martin Ratio Rank: 62

BYD

BYD Risk / Return Rank: 73
BYD Sharpe Ratio Rank: 73
BYD Sortino Ratio Rank: 67
BYD Omega Ratio Rank: 66
BYD Calmar Ratio Rank: 79
BYD Martin Ratio Rank: 77

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MGM vs. BYD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MGM Resorts International (MGM) and Boyd Gaming Corporation (BYD). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	MGM	BYD	Difference
Sharpe ratio Return per unit of total volatility	0.60	0.91	-0.31
Sortino ratio Return per unit of downside risk	1.20	1.42	-0.22
Omega ratio Gain probability vs. loss probability	1.14	1.19	-0.05
Calmar ratio Return relative to maximum drawdown	0.96	2.08	-1.12
Martin ratio Return relative to average drawdown	2.04	4.89	-2.85
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MGM vs. BYD - Sharpe Ratio Comparison

The current MGM Sharpe Ratio is 0.60, which is lower than the BYD Sharpe Ratio of 0.91. The chart below compares the historical Sharpe Ratios of MGM and BYD, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MGM	BYD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.60	0.91	-0.31
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.03	0.22	-0.25
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.13	0.36	-0.23
Sharpe Ratio (All Time) Calculated using the full available price history	0.15	0.08	+0.06

Correlation

The correlation between MGM and BYD is 0.50, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

MGM vs. BYD - Dividend Comparison

MGM has not paid dividends to shareholders, while BYD's dividend yield for the trailing twelve months is around 0.90%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
MGM MGM Resorts International	0.00%	0.00%	0.00%	0.00%	0.03%	0.02%	0.50%	1.56%	1.98%	1.32%
BYD Boyd Gaming Corporation	0.90%	0.84%	0.94%	1.02%	1.36%	0.00%	0.00%	0.90%	1.11%	0.43%

Drawdowns

MGM vs. BYD - Drawdown Comparison

The maximum MGM drawdown since its inception was -98.11%, roughly equal to the maximum BYD drawdown of -94.49%. Use the drawdown chart below to compare losses from any high point for MGM and BYD.

Drawdown Indicators

	MGM	BYD	Difference
Max Drawdown Largest peak-to-trough decline	-98.11%	-94.49%	-3.62%
Max Drawdown (1Y) Largest decline over 1 year	-22.76%	-12.10%	-10.66%
Max Drawdown (5Y) Largest decline over 5 years	-49.33%	-34.58%	-14.75%
Max Drawdown (10Y) Largest decline over 10 years	-80.42%	-80.01%	-0.41%
Current Drawdown Current decline from peak	-60.72%	-8.01%	-52.71%
Average Drawdown Average peak-to-trough decline	-46.36%	-50.29%	+3.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.73%	5.15%	+5.58%

Volatility

MGM vs. BYD - Volatility Comparison

MGM Resorts International (MGM) has a higher volatility of 11.77% compared to Boyd Gaming Corporation (BYD) at 8.65%. This indicates that MGM's price experiences larger fluctuations and is considered to be riskier than BYD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MGM	BYD	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.77%	8.65%	+3.12%
Volatility (6M) Calculated over the trailing 6-month period	27.92%	19.01%	+8.91%
Volatility (1Y) Calculated over the trailing 1-year period	41.81%	28.81%	+13.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.96%	32.03%	+7.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	45.43%	43.14%	+2.29%

Financials

MGM vs. BYD - Profitability Comparison

The chart below illustrates the profitability comparison between MGM Resorts International and Boyd Gaming Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

MGM - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, MGM Resorts International reported a gross profit of 0.00 and revenue of 4.61B. Therefore, the gross margin over that period was 0.0%.

BYD - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Boyd Gaming Corporation reported a gross profit of 204.95M and revenue of 1.06B. Therefore, the gross margin over that period was 19.3%.

MGM - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, MGM Resorts International reported an operating income of 325.01M and revenue of 4.61B, resulting in an operating margin of 7.1%.

BYD - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Boyd Gaming Corporation reported an operating income of 294.78M and revenue of 1.06B, resulting in an operating margin of 27.8%.

MGM - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, MGM Resorts International reported a net income of 293.61M and revenue of 4.61B, resulting in a net margin of 6.4%.

BYD - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Boyd Gaming Corporation reported a net income of 140.40M and revenue of 1.06B, resulting in a net margin of 13.2%.