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Wynn Resorts WYNN Preopening — Stock-based compensation expense

Discontinued — last reported Q3 '20

Similar metrics at other companies

MGM Resorts International logo
MGMReportable Legal Entities — Pre Opening Costs
$60.18M+317%
MGM Resorts International logo
MGMPreopening and start-up expenses
-$977K-1,049%
W.P. Carey Inc. logo
WPCStock-based compensation expense
$7.44M-18.7%
W.P. Carey Inc. logo
WPCOperating Segments — Allocated Stock Based Compensation Expense Excluding Restructuring Expense
$4M-21.4%
W.P. Carey Inc. logo
WPCReal Estate — Stock-based compensation expense
$8.69M-10.7%
W.P. Carey Inc. logo
WPCInvestment Management Segment — Stock-based compensation expense
$0—

Other financials

Income statement

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Revenue$1.9B+9.2%
Operating income$282.6M+5.2%
Net income$120.5M+65.6%
EPS (diluted)$1.04+50.7%

Balance sheet

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Cash & equivalents$1.1B-16.0%
Total debt$12.2B-0.2%
Total equity-$211.8M+41.3%
Total assets$12.9B+1.4%

Cash flow

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Operating cash flow$153.5M+14.7%
CapEx$179.1M+12.0%
Free cash flow-$25.6M+2.1%

Valuation

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Market cap$10.95B+19.2%
Enterprise value$22.02B+9.5%
P/E29.2×+7.8×
P/S1.5×+0.2×

Profitability

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Operating margin15.5%+0.6pp
Net margin5.1%-1.0pp
FCF margin9.5%-1.5pp

Returns & leverage

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Return on equity-398.7%—
Debt / equity117.2×—
Current ratio1.2×+0.2×

Where this comes from

Reported directly by Wynn Resorts in its filing.

Tagged under the XBRL concept us-gaap:AllocatedShareBasedCompensationExpense.

The official record: Wynn Resorts’s 10-Q, filed November 9, 2020, on SEC EDGAR. View the filing →

Questions, answered.

What does preopening — stock-based compensation expense mean?
The cost of stock-based compensation for employees working on new resort projects before they officially open.
How do you interpret preopening — stock-based compensation expense?
An increase suggests higher investment in talent for upcoming property launches, while a decrease may indicate a reduction in development activity or the completion of pre-opening phases.
How does preopening — stock-based compensation expense compare across companies?
Peer luxury casino operators typically report similar pre-opening expenses as part of their project development costs, though accounting treatment for stock-based compensation can vary by jurisdiction and corporate policy.