MELCO INTERNATIONAL DEVELOPMENT LIMITED |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 6.2 HKD | -0.64% |
|
+0.65% | +13.35% |
| Jun. 04 | Melco International Development Unit's Board OKs New $500 Million Share Buyback Program | MT |
| May. 02 | Melco International Unit Teams Up with John Keells on $1 Billion Sri Lanka Resort Project | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 33,144 | 22,786 | 14,408 | 12,719 | 8,224 | 9,433 | - | - |
| Enterprise Value (EV) 1 | 66,564 | 59,600 | 58,833 | 70,612 | 63,332 | 62,238 | 55,665 | 54,545 |
| P/E ratio | 48.7 x | -3.6 x | -3.77 x | -2.49 x | -4.72 x | 87.1 x | 10.8 x | 7.7 x |
| Yield | 0.42% | - | - | - | - | - | 1.04% | 1.44% |
| Capitalization / Revenue | 0.74 x | 1.7 x | 0.92 x | 1.2 x | 0.28 x | 0.26 x | 0.24 x | 0.22 x |
| EV / Revenue | 1.48 x | 4.44 x | 3.76 x | 6.68 x | 2.14 x | 1.7 x | 1.41 x | 1.28 x |
| EV / EBITDA | 5.33 x | -50.8 x | 38.1 x | -195 x | 8.44 x | 6.36 x | 5.09 x | 4.57 x |
| EV / FCF | 12.9 x | -6.91 x | -13 x | -11.2 x | - | 79 x | 34.9 x | 24.2 x |
| FCF Yield | 7.76% | -14.5% | -7.7% | -8.94% | - | 1.27% | 2.86% | 4.13% |
| Price to Book | 1.96 x | 2.12 x | 2.11 x | 7.11 x | 13.7 x | 1.01 x | 0.86 x | 0.75 x |
| Nbr of stocks (in thousands) | 1,513,407 | 1,511,037 | 1,515,077 | 1,503,418 | 1,503,387 | 1,511,674 | - | - |
| Reference price 2 | 21.90 | 15.08 | 9.510 | 8.460 | 5.470 | 6.240 | 6.240 | 6.240 |
| Announcement Date | 3/31/20 | 3/31/21 | 3/31/22 | 3/31/23 | 3/28/24 | - | - | - |
1HKD in Million2HKD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 44,988 | 13,424 | 15,639 | 10,566 | 29,532 | 36,529 | 39,511 | 42,692 |
| EBITDA 1 | 12,498 | -1,173 | 1,544 | -362 | 7,505 | 9,791 | 10,932 | 11,923 |
| EBIT 1 | 6,028 | -7,475 | -5,275 | -6,801 | 715.1 | 4,369 | 5,468 | 6,070 |
| Operating Margin | 13.4% | -55.68% | -33.73% | -64.37% | 2.42% | 11.96% | 13.84% | 14.22% |
| Earnings before Tax (EBT) 1 | 1,834 | -12,345 | -7,900 | -9,982 | -3,396 | 1,886 | 2,352 | 3,065 |
| Net income 1 | 689.8 | -6,340 | -3,809 | -5,113 | -1,744 | 167.9 | 920.7 | 958.1 |
| Net margin | 1.53% | -47.23% | -24.36% | -48.39% | -5.91% | 0.46% | 2.33% | 2.24% |
| EPS 2 | 0.4500 | -4.190 | -2.520 | -3.400 | -1.160 | 0.0717 | 0.5793 | 0.8109 |
| Free Cash Flow 1 | 5,167 | -8,621 | -4,528 | -6,311 | - | 788 | 1,594 | 2,253 |
| FCF margin | 11.49% | -64.22% | -28.96% | -59.73% | - | 2.16% | 4.03% | 5.28% |
| FCF Conversion (EBITDA) | 41.34% | - | - | - | - | 8.05% | 14.58% | 18.9% |
| FCF Conversion (Net income) | 749.1% | - | - | - | - | 469.44% | 173.13% | 235.16% |
| Dividend per Share 2 | 0.0912 | - | - | - | - | - | 0.0650 | 0.0900 |
| Announcement Date | 3/31/20 | 3/31/21 | 3/31/22 | 3/31/23 | 3/28/24 | - | - | - |
1HKD in Million2HKD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2019 S2 | 2020 S1 | 2020 S2 | 2021 S1 | 2021 S2 | 2022 S1 | 2022 S2 | 2023 S1 | 2023 S2 |
|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 22,635 | 7,682 | 5,742 | 8,425 | 7,214 | 6,025 | 4,541 | 13,038 | 16,493 |
| EBITDA | - | - | - | - | - | - | - | - | - |
| EBIT | - | - | - | -2,207 | -2,700 | -2,575 | - | - | - |
| Operating Margin | - | - | - | -26.19% | -37.43% | -42.73% | - | - | - |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - | - |
| Net income | - | - | - | - | - | - | - | - | - |
| Net margin | - | - | - | - | - | - | - | - | - |
| EPS 2 | 0.1500 | -2.430 | -1.760 | -1.090 | -1.430 | -1.580 | -1.820 | -0.4900 | -0.6700 |
| Dividend per Share | - | - | - | - | - | - | - | - | - |
| Announcement Date | 3/31/20 | 8/28/20 | 3/31/21 | 8/31/21 | 3/31/22 | 8/31/22 | 3/31/23 | 8/31/23 | 3/28/24 |
1HKD in Million2HKD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 33,420 | 36,813 | 44,424 | 57,894 | 55,108 | 52,805 | 46,233 | 45,113 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 2.674 x | -31.39 x | 28.76 x | -159.9 x | 7.343 x | 5.393 x | 4.229 x | 3.784 x |
| Free Cash Flow 1 | 5,167 | -8,621 | -4,528 | -6,311 | - | 788 | 1,594 | 2,253 |
| ROE (net income / shareholders' equity) | 4.16% | -58.9% | -43.2% | -118% | -142% | -11.5% | 40.1% | 31.4% |
| ROA (Net income/ Total Assets) | 0.7% | -6.47% | -4.02% | -5.35% | -1.87% | 1.11% | 1.98% | 1.71% |
| Assets 1 | 99,191 | 97,948 | 94,864 | 95,642 | 93,253 | 15,123 | 46,500 | 56,027 |
| Book Value Per Share 2 | 11.20 | 7.100 | 4.500 | 1.190 | 0.4000 | 6.210 | 7.240 | 8.290 |
| Cash Flow per Share 2 | 5.710 | -3.500 | 0.3600 | -1.370 | - | 3.500 | 4.460 | - |
| Capex 1 | 3,510 | 3,334 | 6,073 | 4,201 | - | 2,602 | 2,258 | 2,149 |
| Capex / Sales | 7.8% | 24.83% | 38.83% | 39.76% | - | 7.12% | 5.72% | 5.03% |
| Announcement Date | 3/31/20 | 3/31/21 | 3/31/22 | 3/31/23 | 3/28/24 | - | - | - |
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
A-
Sell
Buy
Mean consensus
BUY
Number of Analysts
8
Last Close Price
6.24
HKD
Average target price
7.1
HKD
Spread / Average Target
+13.78%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +13.35% | 1.21B | |
| +6.03% | 33.95B | |
| -5.67% | 22.48B | |
| -8.57% | 22.63B | |
| -18.69% | 19.27B | |
| +15.58% | 19.52B | |
| +6.61% | 18.17B | |
| -0.72% | 9.85B | |
| -21.78% | 7.94B | |
| +6.82% | 7.65B |
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