MGM CHINA HOLDINGS LIMITED |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 13.42 HKD | +2.91% |
|
+4.19% | +35.42% |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 48,336 | 50,616 | 17,974 | 32,680 | 37,658 | 51,014 | - | - |
| Enterprise Value (EV) 1 | 61,907 | 69,352 | 38,791 | 58,699 | 37,658 | 68,667 | 65,088 | 60,741 |
| P/E ratio | 25 x | -9.73 x | -4.67 x | -6.25 x | 14.3 x | 12.5 x | 11.7 x | 10.4 x |
| Yield | 1.39% | - | - | - | - | 3.24% | 3.52% | 4.87% |
| Capitalization / Revenue | 2.12 x | 9.93 x | 1.91 x | 6.2 x | 1.53 x | 1.69 x | 1.68 x | 1.52 x |
| EV / Revenue | 2.72 x | 13.6 x | 4.12 x | 11.1 x | 1.53 x | 2.27 x | 2.15 x | 1.82 x |
| EV / EBITDA | 10 x | -50.6 x | 207 x | -45.2 x | 5.2 x | 8.23 x | 7.89 x | 6.78 x |
| EV / FCF | 19.3 x | -18.2 x | -39.7 x | -24.9 x | - | 10.3 x | 11.3 x | 11.4 x |
| FCF Yield | 5.19% | -5.49% | -2.52% | -4.02% | - | 9.67% | 8.87% | 8.77% |
| Price to Book | 4.62 x | 10.1 x | 15 x | -8.18 x | - | 33.3 x | 9.47 x | 5.57 x |
| Nbr of stocks (in thousands) | 3,800,000 | 3,800,000 | 3,800,000 | 3,800,000 | 3,800,000 | 3,801,352 | - | - |
| Reference price 2 | 12.72 | 13.32 | 4.730 | 8.600 | 9.910 | 13.42 | 13.42 | 13.42 |
| Announcement Date | 3/26/20 | 2/10/21 | 3/10/22 | 3/29/23 | 3/21/24 | - | - | - |
1HKD in Million2HKD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 22,765 | 5,096 | 9,411 | 5,269 | 24,684 | 30,267 | 30,329 | 33,454 |
| EBITDA 1 | 6,183 | -1,372 | 187.2 | -1,300 | 7,235 | 8,343 | 8,247 | 8,962 |
| EBIT 1 | 2,963 | -4,134 | -2,349 | -3,610 | 4,547 | 5,859 | 5,814 | 6,902 |
| Operating Margin | 13.02% | -81.13% | -24.96% | -68.51% | 18.42% | 19.36% | 19.17% | 20.63% |
| Earnings before Tax (EBT) 1 | 1,942 | -5,191 | -3,828 | -5,216 | 2,685 | 4,137 | 4,366 | 4,963 |
| Net income 1 | 1,931 | -5,202 | -3,847 | -5,232 | 2,638 | 4,095 | 4,337 | 5,387 |
| Net margin | 8.48% | -102.07% | -40.87% | -99.3% | 10.69% | 13.53% | 14.3% | 16.1% |
| EPS 2 | 0.5080 | -1.369 | -1.012 | -1.377 | 0.6920 | 1.071 | 1.149 | 1.287 |
| Free Cash Flow 1 | 3,212 | -3,809 | -977.3 | -2,360 | - | 6,640 | 5,775 | 5,328 |
| FCF margin | 14.11% | -74.74% | -10.38% | -44.79% | - | 21.94% | 19.04% | 15.93% |
| FCF Conversion (EBITDA) | 51.94% | - | - | - | - | 79.59% | 70.02% | 59.45% |
| FCF Conversion (Net income) | 166.3% | - | - | - | - | 162.16% | 133.14% | 98.89% |
| Dividend per Share 2 | 0.1770 | - | - | - | - | 0.4347 | 0.4718 | 0.6542 |
| Announcement Date | 3/26/20 | 2/10/21 | 3/10/22 | 3/29/23 | 3/21/24 | - | - | - |
1HKD in Million2HKD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 S1 | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q3 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | - | 2,248 | 2,452 | - | 1,100 | 687 | 1,366 | 6,400 | 6,881 | 6,881 | 6,886 | 6,886 |
| EBITDA | - | 100.5 | -113.7 | - | - | - | - | - | - | - | - | - |
| EBIT 1 | - | -644.7 | - | -758.5 | -758.5 | - | - | - | 1,279 | 1,279 | 1,283 | 1,283 |
| Operating Margin | - | -28.68% | - | - | -68.96% | - | - | - | 18.58% | 18.58% | 18.64% | 18.64% |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - | - | - | - | - |
| Net income | - | - | - | - | - | - | - | - | - | - | - | - |
| Net margin | - | - | - | - | - | - | - | - | - | - | - | - |
| EPS 2 | - | -0.2800 | -0.2800 | -0.3200 | -0.3200 | - | - | - | 0.2400 | 0.2400 | 0.2400 | 0.2400 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 8/4/21 | 11/3/21 | 3/10/22 | 9/8/22 | 8/3/22 | 11/2/22 | 3/29/23 | 11/8/23 | - | - | - | - |
1HKD in Million2HKD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 13,571 | 18,736 | 20,817 | 26,019 | - | 17,653 | 14,073 | 9,727 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 2.195 x | -13.66 x | 111.2 x | -20.01 x | - | 2.116 x | 1.706 x | 1.085 x |
| Free Cash Flow 1 | 3,212 | -3,809 | -977 | -2,360 | - | 6,640 | 5,775 | 5,328 |
| ROE (net income / shareholders' equity) | 19.9% | -67.2% | -124% | - | - | 2,173% | 178% | 65.4% |
| ROA (Net income/ Total Assets) | 5.71% | -16.7% | -13.2% | -17.5% | - | 15.2% | 13% | 14.7% |
| Assets 1 | 33,819 | 31,088 | 29,054 | 29,825 | - | 26,939 | 33,440 | 36,561 |
| Book Value Per Share 2 | 2.750 | 1.320 | 0.3200 | -1.050 | - | 0.4000 | 1.420 | 2.410 |
| Cash Flow per Share 2 | 1.140 | -0.7800 | -0.1200 | -0.5600 | - | 2.010 | 2.040 | 1.660 |
| Capex 1 | 1,122 | 839 | 528 | 246 | - | 1,545 | 2,105 | 1,261 |
| Capex / Sales | 4.93% | 16.46% | 5.61% | 4.67% | - | 5.11% | 6.94% | 3.77% |
| Announcement Date | 3/26/20 | 2/10/21 | 3/10/22 | 3/29/23 | 3/21/24 | - | - | - |
1HKD in Million2HKD
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B
Sell
Buy
Mean consensus
BUY
Number of Analysts
17
Last Close Price
13.42
HKD
Average target price
16
HKD
Spread / Average Target
+19.21%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +35.42% | 6.52B | |
| +7.14% | 33.01B | |
| +5.10% | 24.32B | |
| +22.35% | 20.52B | |
| -18.63% | 19.87B | |
| -18.07% | 19.35B | |
| -1.52% | 16.62B | |
| -4.07% | 9.51B | |
| -21.91% | 7.92B | |
| +6.70% | 7.13B |
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- Financials MGM China Holdings Limited
