Atour Lifestyle Holdings Limited vs MGM Resorts International, two Hotels & Resorts stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Atour builds a fee-based hotel network in China, whereas MGM Resorts owns and runs casinos and integrated resorts in the US and Macau. Both wear steep multiples, MGM at 67.34 times earnings and Atour at 58.35, but for different reasons. Atour's 16.56% net margin dwarfs MGM's razor-thin 1.03%, where property costs and debt eat the top line. MGM answers with far heavier free cash generation, 12.22% versus Atour's 2.03%, and a 5.51% return on equity. Leverage tells the rest, Atour near debt-free at 0.07 times equity and MGM at 1.93 times. Their caps sit close, $13.5B and $12.7B, but the businesses share little else.
Comparison updated 2026-07-11.
| Metric | ATAT | MGM |
|---|---|---|
| Price | $32.19 | $46.87 |
| Market cap | $13.5B | $12.1B |
| Sector | Hotels & Resorts | Hotels & Resorts |
| Stage | Growth | Mature |
| Implied growth (priced in) | +31.1% | — |
| P/E | 58.5 | 64.2 |
| P/B | 26.27 | 3.66 |
| P/S | 9.64 | 0.68 |
| EV/EBITDA | 38.7 | 8.3 |
| Revenue growth | +67.2% | +3.4% |
| Operating margin | 23.6% | 6.8% |
| Net margin | 16.6% | 1.0% |
| Return on equity | 45.1% | 5.5% |
| Return on assets | 17.7% | 0.4% |
| Return on invested capital | 41.2% | 8.2% |
| FCF yield | 2.0% | 12.8% |
| Dividend yield | — | 0.0% |
| Debt / equity | 0.07 | 1.93 |
| Current ratio | 1.97 | 1.33 |
| Altman Z (solvency) | 8.71 | 0.75 |
| Piotroski F (quality) | 7 / 9 | 4 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.