Intrinsic value of Wynn Resorts - WYNN

Previous Close

$132.45

  Intrinsic Value

$41.06

stock screener

  Rating & Target

str. sell

-69%

Previous close

$132.45

 
Intrinsic value

$41.06

 
Up/down potential

-69%

 
Rating

str. sell

We calculate the intrinsic value of WYNN stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 14.4

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  9.00
  8.60
  8.24
  7.92
  7.62
  7.36
  7.13
  6.91
  6.72
  6.55
  6.39
  6.26
  6.13
  6.02
  5.92
  5.82
  5.74
  5.67
  5.60
  5.54
  5.49
  5.44
  5.39
  5.35
  5.32
  5.29
  5.26
  5.23
  5.21
  5.19
Revenue, $m
  6,874
  7,465
  8,080
  8,720
  9,385
  10,076
  10,794
  11,540
  12,315
  13,122
  13,961
  14,834
  15,744
  16,691
  17,678
  18,708
  19,782
  20,903
  22,074
  23,297
  24,575
  25,911
  27,309
  28,771
  30,301
  31,903
  33,581
  35,338
  37,179
  39,108
Variable operating expenses, $m
  4,879
  5,298
  5,733
  6,186
  6,657
  7,146
  7,655
  8,183
  8,732
  9,303
  9,885
  10,503
  11,147
  11,818
  12,517
  13,246
  14,006
  14,800
  15,629
  16,495
  17,400
  18,346
  19,336
  20,371
  21,454
  22,589
  23,777
  25,021
  26,324
  27,690
Fixed operating expenses, $m
  808
  826
  844
  863
  882
  901
  921
  941
  962
  983
  1,005
  1,027
  1,050
  1,073
  1,096
  1,120
  1,145
  1,170
  1,196
  1,222
  1,249
  1,277
  1,305
  1,334
  1,363
  1,393
  1,423
  1,455
  1,487
  1,520
Total operating expenses, $m
  5,687
  6,124
  6,577
  7,049
  7,539
  8,047
  8,576
  9,124
  9,694
  10,286
  10,890
  11,530
  12,197
  12,891
  13,613
  14,366
  15,151
  15,970
  16,825
  17,717
  18,649
  19,623
  20,641
  21,705
  22,817
  23,982
  25,200
  26,476
  27,811
  29,210
Operating income, $m
  1,186
  1,341
  1,502
  1,671
  1,846
  2,028
  2,218
  2,415
  2,621
  2,835
  3,071
  3,304
  3,547
  3,800
  4,065
  4,342
  4,630
  4,933
  5,249
  5,579
  5,926
  6,288
  6,668
  7,066
  7,484
  7,922
  8,381
  8,863
  9,368
  9,898
EBITDA, $m
  1,796
  2,002
  2,217
  2,441
  2,673
  2,916
  3,168
  3,430
  3,703
  3,988
  4,284
  4,593
  4,915
  5,251
  5,601
  5,967
  6,349
  6,749
  7,166
  7,603
  8,061
  8,540
  9,041
  9,566
  10,117
  10,694
  11,298
  11,933
  12,598
  13,296
Interest expense (income), $m
  265
  520
  503
  555
  610
  667
  727
  788
  852
  919
  988
  1,060
  1,135
  1,213
  1,294
  1,378
  1,466
  1,558
  1,654
  1,754
  1,858
  1,967
  2,081
  2,200
  2,325
  2,455
  2,592
  2,735
  2,884
  3,041
  3,205
Earnings before tax, $m
  666
  838
  947
  1,060
  1,178
  1,301
  1,430
  1,563
  1,702
  1,848
  2,011
  2,169
  2,334
  2,507
  2,687
  2,875
  3,072
  3,279
  3,495
  3,721
  3,958
  4,207
  4,468
  4,742
  5,029
  5,330
  5,646
  5,978
  6,327
  6,693
Tax expense, $m
  180
  226
  256
  286
  318
  351
  386
  422
  460
  499
  543
  586
  630
  677
  725
  776
  830
  885
  944
  1,005
  1,069
  1,136
  1,206
  1,280
  1,358
  1,439
  1,524
  1,614
  1,708
  1,807
Net income, $m
  486
  612
  691
  774
  860
  950
  1,044
  1,141
  1,243
  1,349
  1,468
  1,584
  1,704
  1,830
  1,961
  2,099
  2,243
  2,394
  2,551
  2,717
  2,890
  3,071
  3,262
  3,461
  3,671
  3,891
  4,122
  4,364
  4,619
  4,886

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  12,613
  13,697
  14,826
  16,000
  17,220
  18,487
  19,805
  21,174
  22,597
  24,077
  25,617
  27,219
  28,888
  30,626
  32,437
  34,326
  36,297
  38,354
  40,502
  42,746
  45,091
  47,543
  50,107
  52,790
  55,598
  58,538
  61,616
  64,840
  68,218
  71,757
Adjusted assets (=assets-cash), $m
  12,613
  13,697
  14,826
  16,000
  17,220
  18,487
  19,805
  21,174
  22,597
  24,077
  25,617
  27,219
  28,888
  30,626
  32,437
  34,326
  36,297
  38,354
  40,502
  42,746
  45,091
  47,543
  50,107
  52,790
  55,598
  58,538
  61,616
  64,840
  68,218
  71,757
Revenue / Adjusted assets
  0.545
  0.545
  0.545
  0.545
  0.545
  0.545
  0.545
  0.545
  0.545
  0.545
  0.545
  0.545
  0.545
  0.545
  0.545
  0.545
  0.545
  0.545
  0.545
  0.545
  0.545
  0.545
  0.545
  0.545
  0.545
  0.545
  0.545
  0.545
  0.545
  0.545
Average production assets, $m
  9,197
  9,988
  10,811
  11,667
  12,557
  13,481
  14,442
  15,440
  16,478
  17,557
  18,680
  19,849
  21,065
  22,333
  23,654
  25,031
  26,468
  27,968
  29,534
  31,171
  32,881
  34,669
  36,539
  38,495
  40,543
  42,686
  44,931
  47,282
  49,745
  52,326
Working capital, $m
  -1,547
  -1,680
  -1,818
  -1,962
  -2,112
  -2,267
  -2,429
  -2,596
  -2,771
  -2,952
  -3,141
  -3,338
  -3,542
  -3,755
  -3,978
  -4,209
  -4,451
  -4,703
  -4,967
  -5,242
  -5,529
  -5,830
  -6,144
  -6,473
  -6,818
  -7,178
  -7,556
  -7,951
  -8,365
  -8,799
Total debt, $m
  9,309
  10,285
  11,301
  12,357
  13,455
  14,596
  15,782
  17,014
  18,295
  19,627
  21,013
  22,455
  23,956
  25,521
  27,151
  28,851
  30,625
  32,476
  34,409
  36,429
  38,539
  40,746
  43,054
  45,469
  47,996
  50,642
  53,412
  56,314
  59,354
  62,539
Total liabilities, $m
  11,351
  12,328
  13,343
  14,400
  15,498
  16,639
  17,824
  19,056
  20,337
  21,669
  23,055
  24,497
  25,999
  27,563
  29,194
  30,894
  32,667
  34,519
  36,452
  38,471
  40,582
  42,789
  45,097
  47,511
  50,039
  52,684
  55,455
  58,356
  61,396
  64,582
Total equity, $m
  1,261
  1,370
  1,483
  1,600
  1,722
  1,849
  1,980
  2,117
  2,260
  2,408
  2,562
  2,722
  2,889
  3,063
  3,244
  3,433
  3,630
  3,835
  4,050
  4,275
  4,509
  4,754
  5,011
  5,279
  5,560
  5,854
  6,162
  6,484
  6,822
  7,176
Total liabilities and equity, $m
  12,612
  13,698
  14,826
  16,000
  17,220
  18,488
  19,804
  21,173
  22,597
  24,077
  25,617
  27,219
  28,888
  30,626
  32,438
  34,327
  36,297
  38,354
  40,502
  42,746
  45,091
  47,543
  50,108
  52,790
  55,599
  58,538
  61,617
  64,840
  68,218
  71,758
Debt-to-equity ratio
  7.380
  7.510
  7.620
  7.720
  7.810
  7.900
  7.970
  8.040
  8.100
  8.150
  8.200
  8.250
  8.290
  8.330
  8.370
  8.400
  8.440
  8.470
  8.500
  8.520
  8.550
  8.570
  8.590
  8.610
  8.630
  8.650
  8.670
  8.680
  8.700
  8.720
Adjusted equity ratio
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  486
  612
  691
  774
  860
  950
  1,044
  1,141
  1,243
  1,349
  1,468
  1,584
  1,704
  1,830
  1,961
  2,099
  2,243
  2,394
  2,551
  2,717
  2,890
  3,071
  3,262
  3,461
  3,671
  3,891
  4,122
  4,364
  4,619
  4,886
Depreciation, amort., depletion, $m
  610
  661
  714
  770
  828
  888
  950
  1,015
  1,082
  1,152
  1,213
  1,289
  1,368
  1,450
  1,536
  1,625
  1,719
  1,816
  1,918
  2,024
  2,135
  2,251
  2,373
  2,500
  2,633
  2,772
  2,918
  3,070
  3,230
  3,398
Funds from operations, $m
  1,096
  1,273
  1,406
  1,544
  1,688
  1,838
  1,994
  2,156
  2,325
  2,501
  2,681
  2,873
  3,072
  3,280
  3,497
  3,724
  3,962
  4,210
  4,469
  4,741
  5,025
  5,322
  5,634
  5,961
  6,304
  6,663
  7,039
  7,434
  7,849
  8,284
Change in working capital, $m
  -128
  -133
  -138
  -144
  -150
  -155
  -162
  -168
  -175
  -181
  -189
  -196
  -205
  -213
  -222
  -232
  -242
  -252
  -263
  -275
  -288
  -301
  -314
  -329
  -344
  -360
  -377
  -395
  -414
  -434
Cash from operations, $m
  1,224
  1,406
  1,544
  1,688
  1,838
  1,993
  2,155
  2,324
  2,500
  2,683
  2,870
  3,069
  3,277
  3,493
  3,720
  3,956
  4,203
  4,462
  4,732
  5,016
  5,312
  5,623
  5,949
  6,290
  6,648
  7,023
  7,417
  7,830
  8,263
  8,718
Maintenance CAPEX, $m
  -548
  -597
  -649
  -702
  -758
  -815
  -875
  -938
  -1,003
  -1,070
  -1,140
  -1,213
  -1,289
  -1,368
  -1,450
  -1,536
  -1,625
  -1,719
  -1,816
  -1,918
  -2,024
  -2,135
  -2,251
  -2,373
  -2,500
  -2,633
  -2,772
  -2,918
  -3,070
  -3,230
New CAPEX, $m
  -759
  -791
  -823
  -856
  -890
  -924
  -961
  -998
  -1,038
  -1,079
  -1,123
  -1,168
  -1,217
  -1,267
  -1,321
  -1,377
  -1,437
  -1,500
  -1,566
  -1,636
  -1,710
  -1,788
  -1,870
  -1,956
  -2,048
  -2,144
  -2,245
  -2,351
  -2,463
  -2,581
Cash from investing activities, $m
  -1,307
  -1,388
  -1,472
  -1,558
  -1,648
  -1,739
  -1,836
  -1,936
  -2,041
  -2,149
  -2,263
  -2,381
  -2,506
  -2,635
  -2,771
  -2,913
  -3,062
  -3,219
  -3,382
  -3,554
  -3,734
  -3,923
  -4,121
  -4,329
  -4,548
  -4,777
  -5,017
  -5,269
  -5,533
  -5,811
Free cash flow, $m
  -83
  18
  72
  130
  190
  253
  319
  388
  459
  533
  607
  688
  771
  858
  948
  1,043
  1,141
  1,243
  1,350
  1,462
  1,578
  1,700
  1,827
  1,961
  2,101
  2,247
  2,400
  2,561
  2,730
  2,907
Issuance/(repayment) of debt, $m
  -320
  976
  1,016
  1,056
  1,098
  1,141
  1,186
  1,232
  1,281
  1,332
  1,386
  1,442
  1,502
  1,564
  1,630
  1,700
  1,774
  1,851
  1,933
  2,020
  2,111
  2,207
  2,308
  2,415
  2,527
  2,646
  2,770
  2,902
  3,040
  3,185
Issuance/(repurchase) of shares, $m
  870
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  550
  976
  1,016
  1,056
  1,098
  1,141
  1,186
  1,232
  1,281
  1,332
  1,386
  1,442
  1,502
  1,564
  1,630
  1,700
  1,774
  1,851
  1,933
  2,020
  2,111
  2,207
  2,308
  2,415
  2,527
  2,646
  2,770
  2,902
  3,040
  3,185
Total cash flow (excl. dividends), $m
  467
  994
  1,088
  1,186
  1,288
  1,394
  1,505
  1,620
  1,740
  1,865
  1,993
  2,130
  2,273
  2,422
  2,579
  2,743
  2,914
  3,094
  3,283
  3,481
  3,689
  3,907
  4,135
  4,376
  4,628
  4,893
  5,171
  5,463
  5,770
  6,092
Retained Cash Flow (-), $m
  -1,357
  -108
  -113
  -117
  -122
  -127
  -132
  -137
  -142
  -148
  -154
  -160
  -167
  -174
  -181
  -189
  -197
  -206
  -215
  -224
  -235
  -245
  -256
  -268
  -281
  -294
  -308
  -322
  -338
  -354
Prev. year cash balance distribution, $m
  1,043
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  154
  885
  975
  1,069
  1,166
  1,268
  1,373
  1,483
  1,598
  1,717
  1,839
  1,969
  2,106
  2,248
  2,398
  2,554
  2,717
  2,889
  3,068
  3,257
  3,454
  3,662
  3,879
  4,107
  4,347
  4,599
  4,863
  5,140
  5,432
  5,738
Discount rate, %
  8.10
  8.51
  8.93
  9.38
  9.85
  10.34
  10.85
  11.40
  11.97
  12.57
  13.19
  13.85
  14.55
  15.27
  16.04
  16.84
  17.68
  18.57
  19.49
  20.47
  21.49
  22.57
  23.69
  24.88
  26.12
  27.43
  28.80
  30.24
  31.75
  33.34
PV of cash for distribution, $m
  142
  752
  755
  747
  729
  702
  667
  625
  578
  526
  470
  415
  360
  307
  258
  212
  171
  135
  104
  79
  58
  42
  29
  20
  13
  8
  5
  3
  2
  1
Current shareholders' claim on cash, %
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0

Wynn Resorts, Limited (Wynn Resorts) is a developer, owner and operator of destination casino resorts that integrate accommodations and a range of amenities, including dining outlets, retail offerings, entertainment theaters and meeting complexes. The Company's segments include Macau Operations and Las Vegas Operations. The Company's Macau Operations include Wynn Macau and Wynn Palace. It also includes Encore, an expansion at Wynn Macau. The Company's Las Vegas Operations include Wynn Las Vegas and Encore, an expansion at Wynn Las Vegas. Wynn Las Vegas is located at the intersection of the Las Vegas Strip and Sands Avenue. As of December 31, 2016, it occupied approximately 215 acres of land fronting the Las Vegas Strip. As of December 31, 2016, the Company owned approximately 18 acres across Sands Avenue. The Company is constructing Wynn Boston Harbor, an integrated casino resort in Everett, Massachusetts.

FINANCIAL RATIOS  of  Wynn Resorts (WYNN)

Valuation Ratios
P/E Ratio 55.7
Price to Sales 3
Price to Book 85.3
Price to Tangible Book
Price to Cash Flow 13.9
Price to Free Cash Flow -52.9
Growth Rates
Sales Growth Rate 9.6%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -36.2%
Cap. Spend. - 3 Yr. Gr. Rate 19.3%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 6408.2%
Total Debt to Equity 6408.2%
Interest Coverage 2
Management Effectiveness
Return On Assets 4.5%
Ret/ On Assets - 3 Yr. Avg. 7.1%
Return On Total Capital 2.5%
Ret/ On T. Cap. - 3 Yr. Avg. 5.2%
Return On Equity 1052.2%
Return On Equity - 3 Yr. Avg. 30.5%
Asset Turnover 0.4
Profitability Ratios
Gross Margin 37.9%
Gross Margin - 3 Yr. Avg. 38.2%
EBITDA Margin 22%
EBITDA Margin - 3 Yr. Avg. 24.3%
Operating Margin 11.7%
Oper. Margin - 3 Yr. Avg. 16%
Pre-Tax Margin 7%
Pre-Tax Margin - 3 Yr. Avg. 10.6%
Net Profit Margin 5.4%
Net Profit Margin - 3 Yr. Avg. 7.9%
Effective Tax Rate 2.9%
Eff/ Tax Rate - 3 Yr. Avg. 1.6%
Payout Ratio 134.3%

WYNN stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the WYNN stock intrinsic value calculation we used $6306.368 million for the last fiscal year's total revenue generated by Wynn Resorts. The default revenue input number comes from 0001 income statement of Wynn Resorts. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our WYNN stock valuation model: a) initial revenue growth rate of 9% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 8.1%, whose default value for WYNN is calculated based on our internal credit rating of Wynn Resorts, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Wynn Resorts.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of WYNN stock the variable cost ratio is equal to 71%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $791 million in the base year in the intrinsic value calculation for WYNN stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Wynn Resorts.

Corporate tax rate of 27% is the nominal tax rate for Wynn Resorts. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the WYNN stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for WYNN are equal to 133.8%.

Life of production assets of 15.4 years is the average useful life of capital assets used in Wynn Resorts operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for WYNN is equal to -22.5%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $947.846 million for Wynn Resorts - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 108.587 million for Wynn Resorts is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Wynn Resorts at the current share price and the inputted number of shares is $14.4 billion.

RELATED COMPANIES Price Int.Val. Rating
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