MGP · Mgm Growth Properties LLC - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|
| Revenue | $782.06M | $792.60M | $881.08M | $467.55M | - | - |
| Cost of Revenue | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - |
| SG&A | $18.05M | $16.08M | $16.52M | $16.18M | $12.19M | $9.90M |
| Total Operating Expenses | $286.40M | $472.77M | $355.91M | $526.68M | $412.91M | $313.77M |
| D&A | $235.49M | $236.85M | $294.70M | $273.03M | $260.45M | $220.67M |
| Operating Income | $368.57M | $170.10M | $266.95M | $475.76M | $352.79M | $153.77M |
| Interest Expense | $265.94M | $228.79M | $249.94M | $215.53M | $184.18M | $116.21M |
| Income Tax | $9.33M | $9.73M | $7.60M | $10.84M | $4.91M | $2.26M |
| Net Income | $205.50M | $76.13M | $90.26M | $67.06M | $41.77M | $29.94M |
| EPS - Basic | - | - | - | $0.94 | $0.68 | $0.52 |
| EPS - Diluted | - | - | - | $0.94 | $0.67 | $0.52 |
Balance Sheet
| Line item | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $8.06M | $626.38M | $202.10M | $59.82M | $259.72M | $0 |
| Accounts Receivable | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - |
| Accounts Payable | - | - | - | - | - | - |
| Current Assets | - | - | - | - | - | - |
| Total Assets | $10.43B | $10.60B | $11.91B | $10.95B | $10.35B | $9.51B |
| Current Liabilities | - | - | - | - | - | - |
| Long-term Debt | $4.22B | $4.17B | $4.31B | $4.67B | $3.93B | $3.62B |
| Total Liabilities | $5.07B | $5.01B | $5.01B | $5.11B | $4.28B | $3.90B |
| Stockholders' Equity | $3.16B | $2.64B | $2.51B | $1.57B | $1.33B | $6.30B |
| Retained Earnings | ($537.72M) | ($422.90M) | ($244.38M) | ($150.91M) | ($94.95M) | ($29.76M) |
Cash Flow
| Line item | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $679.02M | $703.70M | $100.71M | $580.21M | $482.58M | $297.78M |
| Investing Cash Flow | ($400.00M) | $58.62M | $3.78M | ($1.04B) | ($462.99M) | ($138.99M) |
| Financing Cash Flow | ($897.35M) | ($338.03M) | $93.62M | $256.00M | ($120.36M) | $201.70M |
| CapEx | $0 | - | - | - | - | - |
| Free Cash Flow | $679.02M | - | - | - | - | - |
Ratios
| Metric | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | - | - | - | - | - | - |
| Operating margin | 47.1% | 21.5% | 30.3% | 101.8% | - | - |
| EBITDA margin | 77.2% | 51.3% | 63.7% | 160.2% | - | - |
| Net margin | 26.3% | 9.6% | 10.2% | 14.3% | - | - |
| Free cash flow margin | 86.8% | - | - | - | - | - |
| FCF / Net income | 3.30 | - | - | - | - | - |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | 2.3% | 2.0% | 1.9% | 3.5% | - | - |
| Effective tax rate | 4.3% | 11.3% | 7.8% | 13.9% | 10.5% | 7.0% |
| Return on assets | 2.0% | 0.7% | 0.8% | 0.6% | 0.4% | 0.3% |
| Return on equity | 6.5% | 2.9% | 3.6% | 4.3% | 3.1% | 0.5% |
| Return on invested capital | 4.8% | 2.2% | 3.6% | 6.6% | 6.0% | 1.4% |
| Liquidity | ||||||
| Current ratio | - | - | - | - | - | - |
| Quick ratio | - | - | - | - | - | - |
| Cash ratio | - | - | - | - | - | - |
| Leverage | ||||||
| Debt / Equity | 1.34 | 1.58 | 1.71 | 2.98 | 2.95 | 0.58 |
| Debt / Assets | 0.40 | 0.39 | 0.36 | 0.43 | 0.38 | 0.38 |
| Debt / EBITDA | 6.98 | 10.24 | 7.67 | 6.23 | 6.42 | 9.67 |
| Interest coverage | 1.4x | 0.7x | 1.1x | 2.2x | 1.9x | 1.3x |
| Equity multiplier | 3.30 | 4.01 | 4.74 | 6.99 | 7.76 | 1.51 |
| Liabilities / Assets | 0.49 | 0.47 | 0.42 | 0.47 | 0.41 | 0.41 |
| Efficiency | ||||||
| Asset turnover | 0.07 | 0.07 | 0.07 | 0.04 | - | - |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - |
| Growth | ||||||
| Revenue growth (YoY) | -1.3% | -10.0% | 88.4% | - | - | - |
| Revenue CAGR (3y) | 18.7% | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - |
| Gross profit growth (YoY) | - | - | - | - | - | - |
| Operating income growth (YoY) | 116.7% | -36.3% | -43.9% | 34.9% | 129.4% | - |
| Net income growth (YoY) | 169.9% | -15.7% | 34.6% | 60.5% | 39.5% | - |
| EPS growth (YoY) | - | - | - | 40.3% | 28.8% | - |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | 19.6% | 5.0% | 60.6% | 17.4% | -78.8% | - |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2021-12-31.
Product / service
$782.06M totalRental Properties$757.94M · 96.9%
Tenant Reimbursements$24.12M · 3.1%
Stability scores
Piotroski F-score
FY 2021 · 9-point quality
5/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- ✗Long-term debt decreased
- -Current ratio improved
- ✗No share dilution
- -Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Real Estate Investment Trusts
Comparing MGM Growth Properties LLC against the 5 most active filers in the same SIC group.