STUDIO CITY INTERNATIONAL HOLDINGS LIMITED

Cash flow Studio City International Holdings Limited

Stocks

MSC

US86389T1060

Casinos & Gaming

Market Closed - NYSE Other stock markets 21:00:03 16/07/2026 BST			5-day change	1st Jan Change
1.810 ^USD	+3.43%		-0.55%	-49.01%

05-13	Studio City Company Limited announces results of its tender offer for any and all of its 7.00% senior secured notes due 2027	RE
05-07	Studio City prices $300 mln of 6.125% senior secured notes due 2031 at 100%	RE

295a8fa7f917c0f875e748e4e.WE8giJmExY6a6AOJ8a2UnAaRLWibiBMDXBrGLsR95FE.Gy1D7_DJrsTpn2zkxOfYr1_faTjc0UVVZXmZaZsRlWIzLU_ewLWS_qywNw

Published financial data: STUDIO CITY INTERNATIONAL HOLDINGS LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	107M	11.55M	446M	639M	695M
Total Revenues	107M	11.55M	446M	639M	695M
Cost of Goods Sold, Total	76.22M	72.96M	171M	223M	227M
Gross Profit	30.65M	-61.41M	274M	416M	468M
Selling General & Admin Expenses, Total	90.9M	83.08M	119M	175M	187M
Pre-Opening Costs	984K	3.26M	17.45M	807K	510K
Depreciation & Amortization - (IS)	124M	124M	166M	202M	209M
Other Operating Expenses	-	5.8M	-	218K	185K
Other Operating Expenses, Total	216M	216M	302M	377M	396M
Operating Income	-186M	-277M	-27.64M	38.95M	71.84M
Interest Expense, Total	-90.97M	-92.36M	-130M	-134M	-126M
Interest And Investment Income	3.06M	6.43M	10.68M	4.06M	914K
Net Interest Expenses	-87.91M	-85.93M	-119M	-130M	-125M
Currency Exchange Gains (Loss)	6.26M	2.39M	642K	-5.5M	462K
Other Non Operating Income (Expenses)	-419K	-168K	-484K	-592K	-1.84M
EBT, Excl. Unusual Items	-268M	-361M	-146M	-96.68M	-54.89M
Restructuring Charges	-4.53M	-	-	-	-
Gain (Loss) On Sale Of Assets	-	-	-	-800K	-700K
Asset Writedown	-1.5M	-	-	-	-
Legal Settlements	-	-	-	-	-1.1M
Other Unusual Items	-28.82M	-	204K	-1M	-
EBT, Incl. Unusual Items	-302M	-361M	-146M	-98.48M	-56.69M
Income Tax Expense	-457K	382K	-81K	7.35M	7.61M
Earnings From Continuing Operations	-302M	-361M	-146M	-106M	-64.3M
Net Income to Company	-302M	-361M	-146M	-106M	-64.3M
Minority Interest	49.45M	34.86M	12.57M	9.1M	5.53M
Net Income - (IS)	-253M	-326M	-134M	-96.73M	-58.76M
Net Income to Common Incl Extra Items	-253M	-326M	-134M	-96.73M	-58.76M
Net Income to Common Excl. Extra Items	-253M	-326M	-134M	-96.73M	-58.76M
Per Share Items
Net EPS - Basic	-2.73	-1.84	-0.69	-0.5	-0.31
Basic EPS - Continuing Operations	-2.73	-1.84	-0.69	-0.5	-0.31
Basic Weighted Average Shares Outstanding	92.59M	178M	193M	193M	193M
Net EPS - Diluted	-2.73	-1.84	-0.69	-0.5	-0.31
Diluted EPS - Continuing Operations	-2.73	-1.84	-0.69	-0.5	-0.31
Diluted Weighted Average Shares Outstanding	92.59M	196M	193M	193M	193M
Normalized Basic EPS	-1.27	-1.07	-0.41	-0.27	-0.15
Normalized Diluted EPS	-1.27	-0.97	-0.41	-0.27	-0.15
American Depositary Receipts Ratio (ADR)	4	4	4	4	4
Supplemental Items
EBITDA	-61.23M	-155M	137M	241M	281M
EBITA	-186M	-277M	-27.64M	38.95M	71.84M
EBIT	-186M	-277M	-27.64M	38.95M	71.84M
EBITDAR	-56.81M	-151M	141M	245M	285M
Total Revenues (As Reported)	107M	11.55M	446M	639M	695M
Effective Tax Rate - (Ratio)	0.15	-0.11	0.06	-7.47	-13.42
Current Domestic Taxes	9K	1K	7K	7.54M	7.66M
Total Current Taxes	9K	1K	7K	7.54M	7.66M
Deferred Domestic Taxes	-445K	381K	-73K	-236K	-17K
Total Deferred Taxes	-445K	381K	-73K	-236K	-17K
Normalized Net Income	-118M	-191M	-78.91M	-51.32M	-28.77M
Interest Capitalized	23.73M	49.62M	15.24M	-	-
Interest on Long-Term Debt	-	-	18.53M	2.55M	1.54M
Supplemental Operating Expense Items
Advertising Expense	4.98M	3.69M	22.67M	33.16M	33.66M
General and Administrative Expenses	87.58M	79.78M	115M	171M	183M
Net Rental Expense, Total	4.42M	4.38M	4.37M	4.39M	4.39M
Imputed Operating Lease Interest Expense	2.19M	2.18M	2.11M	2.07M	2.11M
Imputed Operating Lease Depreciation	2.23M	2.19M	2.26M	2.32M	2.29M
Maintenance & Repair Expenses, Total	-	-	-	300K	-
Stock-Based Comp., G&A Exp. (Total)	438K	361K	-	-	-
Total Stock-Based Compensation	438K	361K	-	-	-

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	499M	510M	228M	128M	109M
Short Term Investments	-	-	-	-	-
Total Cash And Short Term Investments	499M	510M	228M	128M	109M
Accounts Receivable, Total	204K	250K	1.82M	1.74M	1.71M
Other Receivables	15.74M	234K	41.43M	544K	912K
Total Receivables	15.94M	484K	43.25M	2.28M	2.62M
Inventory	5.83M	5.12M	5.76M	7.31M	8.73M
Prepaid Expenses	42.63M	35.8M	35.43M	25.87M	6.42M
Restricted Cash	-	-	-	-	-
Other Current Assets, Total	-	2.92M	3.56M	3.27M	4.32M
Total Current Assets	564M	554M	316M	166M	131M
Gross Property Plant And Equipment	3.38B	3.79B	3.84B	3.91B	3.93B
Accumulated Depreciation	-806M	-913M	-1.05B	-1.24B	-1.43B
Net Property Plant And Equipment	2.57B	2.88B	2.79B	2.66B	2.5B
Other Intangibles, Total	115M	110M	105M	103M	99.07M
Accounts Receivable Long-Term	-	-	-	-	1.51M
Deferred Charges Long-Term	389K	333K	278K	8.79M	7.08M
Other Long-Term Assets, Total	69.36M	48.12M	27.64M	43.84M	60.68M
Total Assets	3.32B	3.59B	3.24B	2.99B	2.8B
Liabilities
Accounts Payable, Total	53.3M	81.68M	2.45M	3.28M	6.4M
Accrued Expenses, Total	67.18M	75.1M	84.49M	84.98M	75.91M
Current Portion of Long-Term Debt	-	-	-	21.6M	-
Current Portion of Leases	899K	1.1M	1.09M	1.55M	2M
Current Income Taxes Payable	21K	22K	10K	7.63M	15.26M
Unearned Revenue Current, Total	2.26M	1.79M	4.43M	5.64M	4.69M
Other Current Liabilities	131M	87.7M	64.3M	56.07M	75.78M
Total Current Liabilities	255M	247M	157M	181M	180M
Long-Term Debt	2.09B	2.43B	2.34B	2.14B	2.02B
Long-Term Leases	14.8M	13.5M	12.25M	12.23M	12.1M
Deferred Tax Liability Non Current	-	382K	309K	77K	60K
Other Non Current Liabilities	17.77M	21.63M	3.21M	4.12M	6.29M
Total Liabilities	2.37B	2.72B	2.51B	2.34B	2.22B
Common Stock, Total	44K	84K	84K	84K	84K
Additional Paid In Capital	2.13B	2.48B	2.48B	2.48B	2.48B
Retained Earnings	-1.34B	-1.67B	-1.8B	-1.9B	-1.95B
Comprehensive Income and Other	-6.14M	-11.67M	-12.66M	8.7M	618K
Total Common Equity	789M	801M	666M	591M	524M
Minority Interest	155M	75.54M	62.88M	55.78M	49.49M
Total Equity	944M	876M	729M	647M	573M
Total Liabilities And Equity	3.32B	3.59B	3.24B	2.99B	2.8B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	92.59M	193M	193M	193M	193M
ECS Total Common Shares Outstanding	92.59M	193M	193M	193M	193M
Book Value / Share	8.53	4.16	3.46	3.07	2.72
Tangible Book Value	675M	691M	561M	488M	425M
Tangible Book Value Per Share	7.29	3.59	2.91	2.53	2.21
Total Debt	2.1B	2.45B	2.35B	2.18B	2.04B
Net Debt	1.6B	1.94B	2.12B	2.05B	1.93B
Debt Equivalent Oper. Leases	35.35M	35.02M	34.99M	35.12M	35.14M
Minority Interest, Total (Incl. Fin. Div)	155M	75.54M	62.88M	55.78M	49.49M
Account Code - Inventory Valuation	5	5	6	6	6
Buildings, Total	2.31B	2.3B	3.38B	3.41B	3.41B
Machinery, Total	227M	289M	305M	321M	330M
Full Time Employees	3.79K	3.57K	5.29K	5.85K	5.88K
Accumulated Allowance for Doubtful Accounts (Supple)	-	-	10K	11K	11K

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	-253M	-326M	-134M	-96.73M	-58.76M
Depreciation & Amortization - CF	124M	122M	165M	202M	209M
Amortization of Goodwill and Intangible Assets - (CF)	-	-	-	-	-
Depreciation & Amortization, Total	124M	122M	165M	202M	209M
Amortization of Deferred Charges, Total - (CF)	4.79M	6.1M	7.52M	6.65M	7.78M
(Gain) Loss From Sale Of Asset	171K	134K	541K	879K	725K
Asset Writedown & Restructuring Costs	1.5M	-	-	-	-
Provision for Credit Losses	-	-	-	-	-
Provision and Write-off of Bad Debts	-65K	481K	-581K	162K	5K
Other Operating Activities, Total	-20.63M	-34.86M	-14.18M	-8.1M	-5.53M
Change In Accounts Receivable	-91K	-16K	-2.03M	318K	85K
Change In Inventories	-1.79M	4.07M	-339K	8.43M	17.11M
Change In Accounts Payable	-6.02M	10.88M	40.66M	13.63M	748K
Change in Other Net Operating Assets	13.54M	38.63M	-81.7M	62.92M	39.46M
Cash from Operations	-137M	-179M	-18.89M	190M	210M
Capital Expenditure	-400M	-452M	-157M	-86.76M	-61.97M
Sale of Property, Plant, and Equipment	1.69M	9K	814K	9.6M	7.55M
Sale (Purchase) of Intangible assets	-4.11M	-	-	-	-
Investment in Marketable and Equity Securities, Total	-4.45M	-1.28M	-	-	-
Other Investing Activities, Total	-	-	-5.53M	-31.3M	-30.73M
Cash from Investing	-407M	-453M	-162M	-108M	-85.15M
Long-Term Debt Issued, Total	758M	350M	-	-	170M
Total Debt Issued	758M	350M	-	-	170M
Long-Term Debt Repaid, Total	-253M	-	-100M	-175M	-313M
Total Debt Repaid	-253M	-	-100M	-175M	-313M
Issuance of Common Stock	-	299M	-	-	-
Other Financing Activities, Total	-33.74M	-6.05M	-530K	-7.88M	-
Cash from Financing	472M	643M	-101M	-183M	-143M
Foreign Exchange Rate Adjustments	-3.37M	-705K	-147K	1.42M	-290K
Net Change in Cash	-75.94M	10.23M	-281M	-100M	-18.23M
Supplemental Items
Cash Interest Paid	84.14M	87.89M	113M	135M	128M
Levered Free Cash Flow	-387M	-542M	-217M	114M	158M
Unlevered Free Cash Flow	-331M	-486M	-139M	194M	232M
Change In Net Working Capital	-60.88M	-12.54M	134M	-51.2M	-37.08M
Net Debt Issued / Repaid	505M	350M	-100M	-175M	-143M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	-3.64	-5.01	-0.51	0.78	1.55
Return on Total Capital	-3.92	-5.44	-0.54	0.82	1.65
Return On Equity %	-27.31	-39.7	-18.2	-15.39	-10.54
Return on Common Equity	-27.31	-41.06	-18.21	-15.39	-10.54
Margin Analysis
Gross Profit Margin %	28.68	-531.81	61.59	65.13	67.37
SG&A Margin	85.06	719.48	26.6	27.32	26.88
EBITDA Margin %	-57.3	-1.34K	30.77	37.66	40.39
EBITA Margin %	-173.62	-2.4K	-6.2	6.09	10.34
EBIT Margin %	-173.62	-2.4K	-6.2	6.09	10.34
Income From Continuing Operations Margin %	-282.59	-3.13K	-32.79	-16.56	-9.26
Net Income Margin %	-236.32	-2.83K	-29.97	-15.13	-8.46
Net Avail. For Common Margin %	-236.32	-2.83K	-29.97	-15.13	-8.46
Normalized Net Income Margin	-110.24	-1.65K	-17.71	-8.03	-4.14
Levered Free Cash Flow Margin	-362.02	-4.69K	-48.73	17.79	22.69
Unlevered Free Cash Flow Margin	-310.19	-4.2K	-31.2	30.33	33.41
Asset Turnover
Asset Turnover	0.03	0	0.13	0.21	0.24
Fixed Assets Turnover	0.04	0	0.16	0.23	0.27
Receivables Turnover (Average Receivables)	689.47	50.87	429.85	358.67	402.53
Inventory Turnover (Average Inventory)	10.08	13.33	31.44	34.1	28.27
Short Term Liquidity
Current Ratio	2.21	2.24	2.02	0.92	0.73
Quick Ratio	2.02	2.06	1.73	0.72	0.62
Operating Cash Flow to Current Liabilities	-0.54	-0.72	-0.12	1.05	1.17
Days Sales Outstanding (Average Receivables)	0.53	7.17	0.85	1.02	0.91
Days Outstanding Inventory (Average Inventory)	36.22	27.39	11.61	10.73	12.91
Average Days Payable Outstanding	242.03	340.94	3.14	4.68	7.75
Cash Conversion Cycle (Average Days)	-205.29	-306.38	9.32	7.07	6.07
Long Term Solvency
Total Debt/Equity	222.75	279.53	322.16	336.75	355.55
Total Debt / Total Capital	69.02	73.65	76.31	77.1	78.05
LT Debt/Equity	222.66	279.4	322.01	333.17	355.2
Long-Term Debt / Total Capital	68.99	73.62	76.28	76.28	77.97
Total Liabilities / Total Assets	71.55	75.62	77.48	78.34	79.5
EBIT / Interest Expense	-2.04	-3	-0.21	0.29	0.57
EBITDA / Interest Expense	-0.62	-1.63	1.09	1.83	2.26
(EBITDA - Capex) / Interest Expense	-5.03	-6.53	-0.12	1.19	1.77
Total Debt / EBITDA	-37.02	-16.26	16.6	8.88	7.15
Net Debt / EBITDA	-28.23	-12.88	14.99	8.36	6.77
Total Debt / (EBITDA - Capex)	-4.6	-4.06	-152.96	13.75	9.14
Net Debt / (EBITDA - Capex)	-3.51	-3.22	-138.11	12.95	8.65
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	117.18	-89.19	3.76K	43.45	8.67
Gross Profit, 1 Yr. Growth %	-219.79	-300.35	-546.84	51.71	12.4
EBITDA, 1 Yr. Growth %	-48.61	147.4	-191.91	77.38	16.55
EBITA, 1 Yr. Growth %	-32.81	49.41	-89.82	-234.11	84.45
EBIT, 1 Yr. Growth %	-32.81	49.41	-89.82	-234.11	84.45
Earnings From Cont. Operations, 1 Yr. Growth %	-25.45	19.64	-59.57	-27.55	-39.25
Net Income, 1 Yr. Growth %	-21.48	29.26	-59.1	-27.56	-39.25
Normalized Net Income, 1 Yr. Growth %	-24.62	61.89	-57.82	-35.68	-43.93
Diluted EPS Before Extra, 1 Yr. Growth %	-38.17	-32.4	-62.4	-27.3	-39.25
Accounts Receivable, 1 Yr. Growth %	92.45	22.55	629.2	-4.5	-1.78
Inventory, 1 Yr. Growth %	-37.31	-12.13	12.54	26.77	19.45
Net Property, Plant and Equip., 1 Yr. Growth %	16.94	12.08	-3.25	-4.43	-6.28
Total Assets, 1 Yr. Growth %	9.04	8.27	-9.93	-7.76	-6.33
Tangible Book Value, 1 Yr. Growth %	-28.23	2.38	-18.79	-12.96	-12.97
Common Equity, 1 Yr. Growth %	-25.53	1.42	-16.8	-11.31	-11.32
Cash From Operations, 1 Yr. Growth %	-18.27	30.64	-89.43	-1.11K	10.75
Capital Expenditures, 1 Yr. Growth %	97.51	12.93	-65.31	-44.68	-28.57
Levered Free Cash Flow, 1 Yr. Growth %	195.48	40.05	-59.66	-152.15	38.61
Unlevered Free Cash Flow, 1 Yr. Growth %	373.97	46.47	-71.16	-238.59	19.69
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-58.71	-51.56	104.18	643.95	24.86
Gross Profit, 2 Yr. CAGR %	-74.99	54.92	199.2	160.36	30.58
EBITDA, 2 Yr. CAGR %	-57.97	14.02	42.87	24.63	43.07
EBITA, 2 Yr. CAGR %	2.1	0.19	-61.87	-62.52	57.28
EBIT, 2 Yr. CAGR %	2.1	0.19	-61.87	-62.52	57.28
Earnings From Cont. Operations, 2 Yr. CAGR %	163.1	-5.56	-30.45	-45.88	-33.66
Net Income, 2 Yr. CAGR %	174.31	0.75	-27.29	-45.57	-33.66
Normalized Net Income, 2 Yr. CAGR %	144.62	10.47	-19.12	-48.13	-39.95
Diluted EPS Before Extra, 2 Yr. CAGR %	121.67	-35.35	-49.59	-47.72	-33.66
Accounts Receivable, 2 Yr. CAGR %	21.15	53.57	198.94	163.89	-3.15
Inventory, 2 Yr. CAGR %	-22.74	-25.78	-0.56	19.44	23.06
Net Property, Plant and Equip., 2 Yr. CAGR %	10.07	14.48	4.13	-3.85	-5.36
Total Assets, 2 Yr. CAGR %	10.62	8.65	-1.25	-8.85	-7.05
Tangible Book Value, 2 Yr. CAGR %	-6.55	-14.28	-8.82	-15.93	-12.96
Common Equity, 2 Yr. CAGR %	-5.89	-13.09	-8.14	-14.1	-11.32
Cash From Operations, 2 Yr. CAGR %	-22.61	3.33	-62.84	3.06	233.64
Capital Expenditures, 2 Yr. CAGR %	125.71	49.34	-37.41	-56.2	-37.14
Levered Free Cash Flow, 2 Yr. CAGR %	68.89	103.43	-25.36	-54.2	-14.98
Unlevered Free Cash Flow, 2 Yr. CAGR %	25.41	163.48	-35.52	-36.81	28.8
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-42.81	-73.59	108.42	81.52	291.8
Gross Profit, 3 Yr. CAGR %	-59.08	-49.95	120.52	138.59	96.78
EBITDA, 3 Yr. CAGR %	-41.28	-23.54	4.78	53.03	21.88
EBITA, 3 Yr. CAGR %	10.41	15.91	-53.57	-41.04	-36.25
EBIT, 3 Yr. CAGR %	10.41	15.91	-53.57	-41.04	-36.25
Earnings From Cont. Operations, 3 Yr. CAGR %	144.17	102.32	-28.82	-29.5	-43.75
Net Income, 3 Yr. CAGR %	126.98	113.46	-25.4	-27.38	-43.54
Normalized Net Income, 3 Yr. CAGR %	114.58	113.17	-20.37	-24.79	-46.76
Diluted EPS Before Extra, 3 Yr. CAGR %	82.07	49.2	-46.04	-43.05	-45.1
Accounts Receivable, 3 Yr. CAGR %	-23.74	21.61	158.12	104.36	89.82
Inventory, 3 Yr. CAGR %	-16.2	-19.35	-14.74	7.83	19.45
Net Property, Plant and Equip., 3 Yr. CAGR %	5.71	10.74	8.24	1.19	-4.66
Total Assets, 3 Yr. CAGR %	5.8	9.83	2.07	-3.47	-8.02
Tangible Book Value, 3 Yr. CAGR %	-2.24	-3.67	-15.81	-10.22	-14.95
Common Equity, 3 Yr. CAGR %	-2.18	-3.52	-14.35	-9.21	-13.18
Cash From Operations, 3 Yr. CAGR %	-0.64	-7.86	-51.68	11.54	5.57
Capital Expenditures, 3 Yr. CAGR %	37.73	79.18	-8.2	-39.94	-48.44
Levered Free Cash Flow, 3 Yr. CAGR %	63.39	58.67	18.36	-33.68	-33.75
Unlevered Free Cash Flow, 3 Yr. CAGR %	359.06	32.07	25.72	-16.61	-21.82
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-24.11	-53.65	-4.85	0.39	69.8
Gross Profit, 5 Yr. CAGR %	-34.69	-31.58	-9.31	-3.21	78.82
EBITDA, 5 Yr. CAGR %	-12.16	-10.72	-14.64	-7.04	18.67
EBITA, 5 Yr. CAGR %	29.25	22.6	-27.49	-26.21	-23.61
EBIT, 5 Yr. CAGR %	27.64	22.6	-27.49	-26.21	-23.61
Earnings From Cont. Operations, 5 Yr. CAGR %	4.46	36.43	47.75	19.39	-30.8
Net Income, 5 Yr. CAGR %	0.79	33.69	43.95	23.58	-28.82
Normalized Net Income, 5 Yr. CAGR %	-2.76	39.86	45.93	21.12	-28.71
Diluted EPS Before Extra, 5 Yr. CAGR %	-12.63	1.8	8.93	-1.92	-41.39
Accounts Receivable, 5 Yr. CAGR %	-31.24	-21.28	31.71	65.79	74.4
Inventory, 5 Yr. CAGR %	-9.28	-12.78	-10.26	-5.63	-1.26
Net Property, Plant and Equip., 5 Yr. CAGR %	1.22	4.79	5.08	4.66	2.58
Total Assets, 5 Yr. CAGR %	1.89	4.18	2.92	1.94	-1.68
Tangible Book Value, 5 Yr. CAGR %	-0.38	2.37	-4.93	-8.77	-14.68
Common Equity, 5 Yr. CAGR %	-0.67	1.59	-4.61	-7.9	-13.15
Cash From Operations, 5 Yr. CAGR %	56.49	21.22	-32.96	-3.63	4.67
Capital Expenditures, 5 Yr. CAGR %	29.08	59.5	0.46	2	-21.1
Levered Free Cash Flow, 5 Yr. CAGR %	12.31	64.37	19.61	-3.47	3.77
Unlevered Free Cash Flow, 5 Yr. CAGR %	3.26	28.7	109.71	-1.66	27.1