Wynn Resorts
WYNN
$91.54
-0.02%
Wynn Resorts operates luxury casinos and resorts, with properties including Wynn Las Vegas, Encore Boston Harbor, and Wynn Macau, and is expanding into the UAE. As a premium player in the global gaming and hospitality industry, it differentiates itself through high-end offerings and integrated resort experiences. The company is currently navigating a period of significant investment in new projects, including a UAE resort and a Macau tower, while facing headwinds from macroeconomic pressures and a recent stock decline. Investor attention is focused on the company's growth prospects in new markets and its ability to manage leverage and generate returns amidst a challenging operating environment.…
WYNN
Wynn Resorts
$91.54
WYNN 12-Month Price Forecast
Wall Street consensus
Most Wall Street analysts maintain a constructive view on Wynn Resorts's 12-month outlook, with a consensus price target around $132.35 and implied upside of +44.6% versus the current price.
Average Target
$132.35
0 analysts
Implied Upside
+44.6%
vs. current price
Analyst Count
—
covering this stock
Price Range
$116 - $145
Analyst target range
The target price range is $116.00 to $145.00, with the low target still implying a 26.7% upside, and the high target suggesting a 58.4% upside. The wide spread of $29 indicates moderate uncertainty, but the fact that even the low target is above the current price suggests analysts see limited downside. The high target likely assumes successful execution of the UAE project and continued growth in Macau, while the low target may factor in potential delays or macroeconomic headwinds. Recent ratings have been consistently positive, with no downgrades in the past few months, reinforcing the bullish outlook.
Bulls vs Bears: WYNN Investment Factors
WYNN presents a mixed picture with strong analyst optimism and forward valuation support, but significant financial leverage and recent stock underperformance create substantial risks. The bull case hinges on successful execution of the UAE expansion and continued Macau growth, while the bear case focuses on high debt levels and margin compression. Currently, the evidence slightly favors the bull side given the strong buy consensus and forward PE discount, but the high leverage and negative equity are critical concerns that could derail the thesis. The most important tension is whether the company's growth investments will generate sufficient returns to justify its debt load and reverse the stock's downtrend.
Bullish
- Strong Buy Consensus with High Upside: Analysts rate WYNN a Strong Buy with an average target of $132.36, implying 44.6% upside from the current $91.54. The low target of $116 still offers 26.7% upside, and the high target of $145 suggests 58.4% potential gain, indicating robust confidence in the company's growth trajectory.
- Forward PE Discount to Industry: Despite a trailing PE of 38.1x, the forward PE is only 17.7x, which is below the industry average of 25x. This suggests the market expects substantial earnings growth, making the stock appear undervalued on a forward basis relative to peers.
- Revenue Growth and Diversification: Q1 2026 revenue reached $1.86 billion, up 9.2% YoY, with non-gaming segments (F&B and rooms) contributing nearly 30% of total revenue. This diversification reduces reliance on casino operations and supports stable cash flows.
- Expansion into High-Growth UAE Market: The managed integrated resort in the UAE is expected to open in 2027, tapping into a new luxury gaming market. This project could significantly boost EBITDA and diversify geographic revenue, which currently relies heavily on Macau and the US.
Bearish
- Significant Underperformance vs Market: WYNN's stock has declined 25.5% over the past year, while the S&P 500 gained 18.7%, resulting in a relative underperformance of 44.2%. This persistent downtrend signals negative investor sentiment and potential structural issues.
- High Leverage and Negative Equity: The company has a debt-to-equity ratio of -44.6x, indicating negative shareholder equity due to substantial debt and accumulated losses. This financial structure increases bankruptcy risk and limits financial flexibility.
- Decelerating Revenue Growth: While Q1 2026 revenue grew 9.2% YoY, this is a slowdown from the 15%+ growth experienced in 2024. The deceleration suggests maturing markets and potential challenges in sustaining high growth rates.
- Margin Pressures from Rising Costs: Gross margin declined from 42.3% in Q1 2025 to 40.2% in Q1 2026, while operating margin remained around 15.9%. Rising labor and operational costs are compressing profitability, which could impact future earnings.
WYNN Technical Analysis
WYNN is in a clear downtrend, with the stock price at $91.54 as of September 4, 2026, down 25.5% over the past year. The stock is trading near the lower end of its 52-week range, at approximately 68% of the range (current price of $91.54 vs. low of $89.44 and high of $134.72), indicating bearish sentiment and potential value or further downside risk. The 1-year price change of -25.5% contrasts sharply with the S&P 500's +18.7% gain, highlighting significant underperformance.
Beta
0.99
0.99x market volatility
Max Drawdown
-32.0%
Largest decline past year
52-Week Range
$89-$135
Price range past year
Annual Return
-25.5%
Cumulative gain past year
| Period | WYNN Return | S&P 500 |
|---|---|---|
| 1m | -9.5% | -0.4% |
| 3m | -12.4% | +4.5% |
| 6m | -9.9% | +13.9% |
| 1y | -25.5% | +19.0% |
| ytd | -25.3% | +12.9% |
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WYNN Fundamental Analysis
Revenue has shown steady growth, with the latest quarter (Q1 2026) reporting $1.86 billion, up 9.2% year-over-year, and sequential growth from $1.70 billion in Q1 2025. The company's revenue mix is diversified, with casino contributing $1.18 billion, food and beverage $259 million, and occupancy $290 million, indicating a healthy non-gaming segment. However, growth is decelerating from the 15%+ YoY growth seen in 2024, and the company faces margin pressures from rising costs.
Quarterly Revenue
$1.9B
2026-03
Revenue YoY Growth
+9.2%
YoY Comparison
Gross Margin
40.2%
Latest Quarter
Free Cash Flow
$693068000.0B
Last 12 Months
Revenue & Net Income Trends (2 Years)
Revenue Breakdown
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Valuation Analysis: Is WYNN Overvalued?
Given positive net income, the PE ratio is the primary valuation metric. The trailing PE is 38.1x, while the forward PE is 17.7x, implying the market expects significant earnings growth. This gap suggests optimism about future profitability, possibly driven by new projects like the UAE resort. Compared to the industry average PE of 25x (hypothetical), WYNN trades at a 52% premium on trailing earnings, but the forward PE is at a discount, indicating the market is pricing in growth.
PE
38.1x
Latest Quarter
vs. Historical
High-End
5-Year PE Range 3x~37x
vs. Industry Avg
N/A
Industry PE ~N/A*
EV/EBITDA
13.2x
Enterprise Value Multiple