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SJM Holdings Ltd 00880

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Stock XHKG Rating as of
HK$1.30 +0.02 (1.56%)
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As of Delayed Price Closed

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SJM Strengthens Market Share With Grand Lisboa Palace Ramp-Up

Jennifer Song

As one of six casino license holders in Macao, SJM Holdings benefits from insatiable Chinese demand for gaming, underpinned by rising per capita disposable income in China. New hotel rooms by major casino operators in recent years have helped to increase higher-spending overnight visitors and revitalized the appeal of Macao. With the gradual ramp-up of traffic allowed on the Hong Kong-Zhuhai-Macao bridge, new Hengqin border, and the Gongbei to Hengqin extension rail, Macao's carrying capacity for tourists should increase. In addition, neighboring Hengqin Island, 3 times the size of Macao, is under rapid development to complement Macao's growth.

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Price vs Fair Value

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00880 is trading at a y.! premium.
Price
HK$1.30
Fair Value
R.f
Uncertainty
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1-Star Price
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5-Star Price
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Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

Macao's gaming sector is well positioned to benefit from gaming demand recovery in Macao, which will allow the sector to restore its profitability meaningfully.

Bears

Intensifying competition among Macao casinos leads to increased promotional and operating expenses, pressuring margins and profitability.

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Trading Information

Previous Close Price
HK$1.28
Day Range
HK$1.28–1.32
52-Week Range
HK$1.27–3.13
Bid/Ask
HK$1.29 / HK$1.30
Shares Outstanding
7.10B
Market Cap
HK$9.23B
Volume/Avg
7M / 8M

Key Statistics

Price/Earnings (Normalized)
—
Price/Sales
0.63
Dividend Yield (Trailing)
0.00%
Dividend Yield (Forward)
0.00%
Dividend Payment Schedule
—
Total Yield
—

Company Profile

SJM Holdings is one of six casino license holders in Macao. It operates Grand Lisboa casino in the peninsula and Grand Lisboa Palace in Cotai, as well as another three self-promoted casinos: Casino Lisboa, Oceanus at Jai Alai, and L'Arc Macau.
Sector
Consumer Cyclical
Industry
Resorts & Casinos
Stock Style Box
Mid Value
Total Number of Employees
20,400
Website
https://www.sjmholdings.com

Competitors

Valuation

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Metric
00880
MLCO
00027
Price/Earnings (Normalized)
 —7.0512.86
Price/Book Value
 0.73183.321.66
Price/Sales
 0.630.342.80
Price/Cash Flow
 5.332.1110.16
Price/Earnings
00880
MLCO
00027

Financial Strength

Metric
00880
MLCO
00027
Quick Ratio
 0.320.971.88
Current Ratio
 0.461.031.92
Interest Coverage
 0.691.3874.84
Quick Ratio
00880
MLCO
00027

Profitability

Metric
00880
MLCO
00027
Return on Assets (Normalized)
 −1.16%3.26%10.94%
Return on Equity (Normalized)
 −4.41%—13.05%
Return on Invested Capital (Normalized)
 1.87%9.33%11.26%
Return on Assets
00880
MLCO
00027

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