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2282

MGM China HoldingsSEHK:2282 Stock Report

Market Cap

HK$20.8b

7D

-10.3%

1Y

-48.0%

Updated

27 Sep, 2021

Data

Company Financials +
2282 fundamental analysis
Snowflake Score
Valuation2/6
Future Growth6/6
Past Performance0/6
Financial Health1/6
Dividends0/6

2282 Overview

MGM China Holdings Limited, an investment holding company, engages in the development, ownership, and operation of gaming and lodging resorts in the Greater China region.

MGM China Holdings Competitors

Wynn Macau

SEHK:1128

HK$33.6b

Las Vegas Sands

NYSE:LVS

US$28.2b

Price History & Performance

Summary of all time highs, changes and price drops for MGM China Holdings
Historical stock prices
Current Share PriceHK$4.90
52 Week HighHK$5.40
52 Week LowHK$14.62
Beta1.35
1 Month Change-35.95%
3 Month Change-58.48%
1 Year Change-47.98%
3 Year Change-60.48%
5 Year Change-64.54%
Change since IPO-68.63%

Recent News & Updates

Shareholder Returns

2282HK HospitalityHK Market
7D-10.3%-0.4%-2.4%
1Y-48.0%-27.9%9.1%

Return vs Industry: 2282 underperformed the Hong Kong Hospitality industry which returned -27.9% over the past year.

Return vs Market: 2282 underperformed the Hong Kong Market which returned 9.1% over the past year.

Price Volatility

Is 2282's price volatile compared to industry and market?
2282 volatility
2282 Beta1.35
Industry Beta1.07
Market Beta1

Stable Share Price: 2282 is not significantly more volatile than the rest of Hong Kong stocks over the past 3 months, typically moving +/- 10% a week.

Volatility Over Time: 2282's weekly volatility (10%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
201010,065n/ahttps://www.mgmchinaholdings.com

MGM China Holdings Limited, an investment holding company, engages in the development, ownership, and operation of gaming and lodging resorts in the Greater China region. The company develops and operates casino games of chance and other casino games, and related hotel and resort facilities, as well as provides hotel management services; and develops integrated resorts in Macau. It owns and operates MGM Macau, an integrated resort that includes a casino with 638 slot machines and 279 gaming tables; a hotel with 582 hotel rooms, suites, and villas; and amenities, including eight restaurants, retail outlets, pool, and spa facilities, as well as a convention space.

MGM China Holdings Fundamentals Summary

How do MGM China Holdings's earnings and revenue compare to its market cap?
2282 fundamental statistics
Market CapHK$20.79b
Earnings (TTM)-HK$4.07b
Revenue (TTM)HK$7.44b

2.5x

P/S Ratio

-4.6x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
2282 income statement (TTM)
RevenueHK$7.44b
Cost of RevenueHK$3.47b
Gross ProfitHK$3.97b
ExpensesHK$8.04b
Earnings-HK$4.07b

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)-1.07
Gross Margin53.34%
Net Profit Margin-54.79%
Debt/Equity Ratio693.2%

How did 2282 perform over the long term?

See historical performance and comparison

Valuation

Is MGM China Holdings undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: 2282 (HK$4.9) is trading below our estimate of fair value (HK$11.13)

Significantly Below Fair Value: 2282 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 2282 is unprofitable, so we can't compare its PE Ratio to the Hong Kong Hospitality industry average.

PE vs Market: 2282 is unprofitable, so we can't compare its PE Ratio to the Hong Kong market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate 2282's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: 2282 is overvalued based on its PB Ratio (5.7x) compared to the HK Hospitality industry average (1.1x).


Future Growth

How is MGM China Holdings forecast to perform in the next 1 to 3 years based on estimates from 16 analysts?

78.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 2282 is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.5%).

Earnings vs Market: 2282 is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: 2282's is expected to become profitable in the next 3 years.

Revenue vs Market: 2282's revenue (22.3% per year) is forecast to grow faster than the Hong Kong market (12.3% per year).

High Growth Revenue: 2282's revenue (22.3% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 2282's Return on Equity is forecast to be very high in 3 years time (106.9%).


Past Performance

How has MGM China Holdings performed over the past 5 years?

-62.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 2282 is currently unprofitable.

Growing Profit Margin: 2282 is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: 2282 is unprofitable, and losses have increased over the past 5 years at a rate of 62.3% per year.

Accelerating Growth: Unable to compare 2282's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: 2282 is unprofitable, making it difficult to compare its past year earnings growth to the Hospitality industry (18.6%).


Return on Equity

High ROE: 2282 has a negative Return on Equity (-124.18%), as it is currently unprofitable.


Financial Health

How is MGM China Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: 2282's short term assets (HK$3.2B) exceed its short term liabilities (HK$2.6B).

Long Term Liabilities: 2282's short term assets (HK$3.2B) do not cover its long term liabilities (HK$22.9B).


Debt to Equity History and Analysis

Debt Level: 2282's debt to equity ratio (693.2%) is considered high.

Reducing Debt: 2282's debt to equity ratio has increased from 213% to 693.2% over the past 5 years.

Debt Coverage: 2282's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: Insufficient data to determine if 2282's interest payments on its debt are well covered by EBIT.


Balance Sheet


Dividend

What is MGM China Holdings's current dividend yield, its reliability and sustainability?

1.56%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate 2282's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate 2282's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if 2282's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if 2282's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: 2282 is not paying a notable dividend for the Hong Kong market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of 2282's dividend in 3 years as they are not forecast to pay a notable one for the Hong Kong market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.4yrs

Average management tenure


CEO

MGM China Holdings has no CEO, or we have no data on them.


Leadership Team

Experienced Management: 2282's management team is not considered experienced ( 1.4 years average tenure), which suggests a new team.


Board Members

Experienced Board: 2282's board of directors are not considered experienced ( 2.1 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: 2282 insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

MGM China Holdings Limited's employee growth, exchange listings and data sources


Key Information

  • Name: MGM China Holdings Limited
  • Ticker: 2282
  • Exchange: SEHK
  • Founded: 2010
  • Industry: Casinos and Gaming
  • Sector: Consumer Services
  • Market Cap: HK$20.786b
  • Shares outstanding: 3.80b
  • Website: https://www.mgmchinaholdings.com

Number of Employees


Location

  • MGM China Holdings Limited
  • Edificio MGM Macau
  • Avenida Dr. Sun Yat Sen
  • Macau
  • Macau

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/09/27 10:03
End of Day Share Price2021/09/27 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.