MELCO INTERNATIONAL DEVELOPMENT LIMITED |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 5.93 HKD | -2.47% |
|
+14.92% | +8.41% |
| 28/03 | Melco International Development Limited Reports Earnings Results for the Full Year Ended December 31, 2023 | CI |
| 13/02 | Governments race to regulate AI tools | RE |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 33,144 | 22,786 | 14,408 | 12,719 | 8,224 | 7,776 | - | - |
| Enterprise Value (EV) 1 | 66,564 | 59,600 | 58,833 | 70,612 | 63,332 | 58,345 | 53,919 | 49,483 |
| P/E ratio | 48.7 x | -3.6 x | -3.77 x | -2.49 x | -4.72 x | -10.9 x | 9.41 x | 23.1 x |
| Yield | 0.42% | - | - | - | - | 0.22% | 0.73% | - |
| Capitalization / Revenue | 0.74 x | 1.7 x | 0.92 x | 1.2 x | 0.28 x | 0.21 x | 0.2 x | 0.18 x |
| EV / Revenue | 1.48 x | 4.44 x | 3.76 x | 6.68 x | 2.14 x | 1.6 x | 1.36 x | 1.18 x |
| EV / EBITDA | 5.33 x | -50.8 x | 38.1 x | -195 x | 8.44 x | 6.25 x | 4.92 x | 4.35 x |
| EV / FCF | 12.9 x | -6.91 x | -13 x | -11.2 x | - | 54.4 x | 33.3 x | 20.6 x |
| FCF Yield | 7.76% | -14.5% | -7.7% | -8.94% | - | 1.84% | 3.01% | 4.86% |
| Price to Book | 1.96 x | 2.12 x | 2.11 x | 7.11 x | 13.7 x | 0.91 x | 0.65 x | - |
| Nbr of stocks (in thousands) | 15,13,407 | 15,11,037 | 15,15,077 | 15,03,418 | 15,03,387 | 13,11,271 | - | - |
| Reference price 2 | 21.90 | 15.08 | 9.510 | 8.460 | 5.470 | 5.930 | 5.930 | 5.930 |
| Announcement Date | 31/03/20 | 31/03/21 | 31/03/22 | 31/03/23 | 28/03/24 | - | - | - |
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 | 36,380 | 39,775 | 42,108 |
| EBITDA 1 | 12,498 | -1,173 | 1,544 | -362 | 7,505 | 9,329 | 10,950 | 11,386 |
| EBIT 1 | 6,028 | -7,475 | -5,275 | -6,801 | 715.1 | 3,755 | 4,949 | 5,542 |
| Operating Margin | 13.4% | -55.68% | -33.73% | -64.37% | 2.42% | 10.32% | 12.44% | 13.16% |
| Earnings before Tax (EBT) 1 | 1,834 | -12,345 | -7,900 | -9,982 | -3,396 | -854.3 | 1,181 | 1,372 |
| Net income 1 | 689.8 | -6,340 | -3,809 | -5,113 | -1,744 | -821.9 | 1,015 | 387.7 |
| Net margin | 1.53% | -47.23% | -24.36% | -48.39% | -5.91% | -2.26% | 2.55% | 0.92% |
| EPS 2 | 0.4500 | -4.190 | -2.520 | -3.400 | -1.160 | -0.5444 | 0.6300 | 0.2568 |
| Free Cash Flow 1 | 5,167 | -8,621 | -4,528 | -6,311 | - | 1,073 | 1,621 | 2,407 |
| FCF margin | 11.49% | -64.22% | -28.96% | -59.73% | - | 2.95% | 4.08% | 5.72% |
| FCF Conversion (EBITDA) | 41.34% | - | - | - | - | 11.5% | 14.8% | 21.14% |
| FCF Conversion (Net income) | 749.1% | - | - | - | - | - | 159.7% | 620.86% |
| Dividend per Share 2 | 0.0912 | - | - | - | - | 0.0133 | 0.0433 | - |
| Announcement Date | 31/03/20 | 31/03/21 | 31/03/22 | 31/03/23 | 28/03/24 | - | - | - |
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 | 31/03/20 | 28/08/20 | 31/03/21 | 31/08/21 | 31/03/22 | 31/08/22 | 31/03/23 | 31/08/23 | 28/03/24 |
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 | 50,569 | 46,143 | 41,707 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 2.674 x | -31.39 x | 28.76 x | -159.9 x | 7.343 x | 5.421 x | 4.214 x | 3.663 x |
| Free Cash Flow 1 | 5,167 | -8,621 | -4,528 | -6,311 | - | 1,073 | 1,621 | 2,407 |
| ROE (net income / shareholders' equity) | 4.16% | -58.9% | -43.2% | -118% | -142% | -570% | 28.1% | 29.3% |
| ROA (Net income/ Total Assets) | 0.7% | -6.47% | -4.02% | -5.35% | -1.87% | -1.2% | 0.66% | 0.17% |
| Assets 1 | 99,191 | 97,948 | 94,864 | 95,642 | 93,253 | 68,492 | 1,53,323 | 2,29,402 |
| Book Value Per Share 2 | 11.20 | 7.100 | 4.500 | 1.190 | 0.4000 | 6.500 | 9.120 | - |
| 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 | - | 2,327 | 3,018 | 2,327 |
| Capex / Sales | 7.8% | 24.83% | 38.83% | 39.76% | - | 6.4% | 7.59% | 5.53% |
| Announcement Date | 31/03/20 | 31/03/21 | 31/03/22 | 31/03/23 | 28/03/24 | - | - | - |
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
5.93
HKD
Average target price
6.9
HKD
Spread / Average Target
+16.36%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +8.41% | 994M | |
| +6.17% | 33.17B | |
| +2.48% | 23.67B | |
| +17.90% | 19.77B | |
| -18.97% | 19.81B | |
| -18.25% | 19.33B | |
| -3.63% | 16.43B | |
| -4.39% | 9.48B | |
| -23.59% | 7.75B | |
| +7.98% | 7.23B |
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- Financials Melco International Development Limited
