WYNN MACAU, LIMITED |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 7.57 HKD | +1.75% |
|
+5.43% | +17.73% |
Valuation
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 88,692 | 99,770 | 67,667 | 33,163 | 45,548 | 39,562 | 39,562 | - |
| Enterprise Value (EV) 1 | 112,244 | 124,840 | 98,036 | 68,033 | 86,353 | 33,557 | 75,498 | 71,614 |
| P/E ratio | 14.2 x | 19.8 x | -9.37 x | -6.37 x | -6.17 x | 33.8 x | 14.6 x | 11.4 x |
| Yield | 7.03% | 4.69% | - | - | - | - | 2.18% | 2.99% |
| Capitalization / Revenue | 2.24 x | 2.79 x | 8.91 x | 2.82 x | 8.07 x | 1.38 x | 1.32 x | 1.25 x |
| EV / Revenue | 2.83 x | 3.49 x | 12.9 x | 5.78 x | 15.3 x | 1.38 x | 2.52 x | 2.27 x |
| EV / EBITDA | 9.07 x | 11.7 x | -53.4 x | 91 x | -44.3 x | 5.07 x | 9.14 x | 7.83 x |
| EV / FCF | 13.2 x | 18.5 x | -22 x | -40.3 x | -35 x | 15.4 x | 10.5 x | 9.71 x |
| FCF Yield | 7.6% | 5.41% | -4.55% | -2.48% | -2.86% | 6.48% | 9.53% | 10.3% |
| Price to Book | 58.5 x | 50.2 x | -12.7 x | -3.3 x | -2.64 x | -2.56 x | -2.96 x | -4.14 x |
| Nbr of stocks (in thousands) | 5,192,766 | 5,196,331 | 5,197,189 | 5,206,132 | 5,235,432 | 5,226,142 | 5,226,142 | - |
| Reference price 2 | 17.08 | 19.20 | 13.02 | 6.370 | 8.700 | 7.570 | 7.570 | 7.570 |
| Announcement Date | 1/31/19 | 2/6/20 | 2/5/21 | 2/16/22 | 3/30/23 | 3/21/24 | - | - |
1HKD in Million2HKD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 39,632 | 35,817 | 7,598 | 11,771 | 5,644 | 24,268 | 30,009 | 31,560 |
| EBITDA 1 | 12,372 | 10,701 | -1,836 | 747.7 | -1,948 | 6,621 | 8,256 | 9,149 |
| EBIT 1 | 7,698 | 6,365 | -5,403 | -2,657 | -4,888 | 3,702 | 5,546 | 6,043 |
| Operating Margin | 19.42% | 17.77% | -71.1% | -22.57% | -86.61% | 15.26% | 18.48% | 19.15% |
| Earnings before Tax (EBT) 1 | 6,268 | 5,020 | -7,207 | -5,181 | -7,327 | 1,214 | 2,401 | 3,829 |
| Net income 1 | 6,254 | 5,008 | -7,220 | -5,194 | -7,339 | 1,172 | 2,862 | 3,618 |
| Net margin | 15.78% | 13.98% | -95.02% | -44.12% | -130.04% | 4.83% | 9.54% | 11.46% |
| EPS 2 | 1.200 | 0.9700 | -1.390 | -1.000 | -1.410 | 0.1900 | 0.5194 | 0.6634 |
| Free Cash Flow 1 | 8,526 | 6,749 | -4,457 | -1,688 | -2,469 | 5,043 | 7,193 | 7,374 |
| FCF margin | 21.51% | 18.84% | -58.66% | -14.34% | -43.74% | 21% | 23.97% | 23.36% |
| FCF Conversion (EBITDA) | 68.91% | 63.08% | - | - | - | 77.92% | 87.13% | 80.6% |
| FCF Conversion (Net income) | 136.33% | 134.78% | - | - | - | 834% | 251.34% | 203.79% |
| Dividend per Share 2 | 1.200 | 0.9000 | - | - | - | - | 0.1650 | 0.2266 |
| Announcement Date | 1/31/19 | 2/6/20 | 2/5/21 | 2/16/22 | 3/30/23 | 3/21/24 | - | - |
1HKD in Million2HKD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q1 | 2021 Q2 | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 3,239 | 3,534 | 2,430 | 2,540 | 2,343 | 905.5 | 907 | 4,698 | 6,020 | 6,404 | 6,963 | 7,042 | 7,042 | 7,045 |
| EBITDA 1 | 341.2 | 526 | - | - | -43.54 | - | - | - | - | 1,992 | - | - | - | - |
| EBIT 1 | -567 | -371.9 | -729.6 | -984.1 | -766.2 | -1,441 | -1,265 | 370.4 | 954.1 | 997.6 | 1,158 | 1,258 | 1,258 | 1,261 |
| Operating Margin | -17.51% | -10.52% | -30.02% | -38.74% | -32.71% | -159.18% | -139.47% | 7.88% | 15.85% | 15.58% | 16.62% | 17.86% | 17.86% | 17.9% |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Net income | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Net margin | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EPS 2 | - | -0.1700 | - | -0.3100 | - | - | - | - | - | 0.0800 | 0.0800 | 0.1200 | 0.1200 | 0.1200 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 5/11/21 | 8/5/21 | 11/10/21 | 2/16/22 | 5/11/22 | 8/29/22 | 11/10/22 | 5/10/23 | 8/10/23 | 11/10/23 | - | - | - | - |
1HKD in Million2HKD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 23,552 | 25,070 | 30,368 | 34,869 | 40,805 | 38,283 | 35,936 | 32,052 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 1.904 x | 2.343 x | -16.54 x | 46.63 x | -20.94 x | 5.915 x | 4.353 x | 3.503 x |
| Free Cash Flow 1 | 8,526 | 6,749 | -4,457 | -1,688 | -2,469 | 5,043 | 7,193 | 7,374 |
| ROE (net income / shareholders' equity) | 276% | 289% | - | - | - | - | - | - |
| ROA (Net income/ Total Assets) | 14% | 10.5% | -14.2% | -11.1% | -18.8% | 1.65% | 5.2% | 7.53% |
| Assets 1 | 44,599 | 47,737 | 50,992 | 46,909 | 38,988 | 36,623 | 54,989 | 48,027 |
| Book Value Per Share 2 | 0.2900 | 0.3800 | -1.030 | -1.930 | -3.300 | -2.950 | -2.560 | -1.830 |
| Cash Flow per Share 2 | 1.870 | 1.300 | -0.7200 | -0.2300 | -0.4100 | 0.9300 | 2.060 | 1.490 |
| Capex 1 | 1,190 | 1,640 | 749 | 488 | 349 | 1,431 | 1,946 | 2,651 |
| Capex / Sales | 3% | 4.58% | 9.86% | 4.15% | 6.18% | 5.96% | 6.49% | 8.4% |
| Announcement Date | 1/31/19 | 2/6/20 | 2/5/21 | 2/16/22 | 3/30/23 | 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
15
Last Close Price
7.57
HKD
Average target price
9.286
HKD
Spread / Average Target
+22.66%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +17.73% | 5.05B | |
| +7.14% | 33.01B | |
| +5.10% | 24.32B | |
| -18.63% | 19.87B | |
| -18.07% | 19.35B | |
| -1.52% | 16.62B | |
| -4.07% | 9.51B | |
| -21.91% | 7.92B | |
| +0.41% | 7.05B | |
| +6.70% | 7.13B |
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- Financials Wynn Macau, Limited
