WYNN MACAU, LIMITED |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 0.76 EUR | 0.00% |
|
-4.95% | +3.83% |
| 06-04 | Macau casinos play best hands to win over premium customers | RE |
| 05-30 | Wynn Macau, Limited Approves an Amendments to the Existing Dividend Policy | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 99,770 | 67,667 | 33,163 | 45,548 | 33,557 | 32,868 | - | - |
| Enterprise Value (EV) 1 | 124,840 | 98,036 | 68,033 | 86,353 | 33,557 | 69,512 | 66,823 | 61,543 |
| P/E ratio | 19.8 x | -9.37 x | -6.37 x | -6.17 x | 33.8 x | 10.4 x | 8.95 x | 7.7 x |
| Yield | 4.69% | - | - | - | - | 3.1% | 4.2% | 4.99% |
| Capitalization / Revenue | 2.79 x | 8.91 x | 2.82 x | 8.07 x | 1.38 x | 1.07 x | 1.02 x | 0.97 x |
| EV / Revenue | 3.49 x | 12.9 x | 5.78 x | 15.3 x | 1.38 x | 2.27 x | 2.08 x | 1.81 x |
| EV / EBITDA | 11.7 x | -53.4 x | 91 x | -44.3 x | 5.07 x | 7.81 x | 7.14 x | 6.19 x |
| EV / FCF | 18.5 x | -22 x | -40.3 x | -35 x | - | 9.06 x | 9.15 x | 7.41 x |
| FCF Yield | 5.41% | -4.55% | -2.48% | -2.86% | - | 11% | 10.9% | 13.5% |
| Price to Book | 50.2 x | -12.7 x | -3.3 x | -2.64 x | - | -2.47 x | -3.13 x | -4.55 x |
| Nbr of stocks (in thousands) | 5,196,331 | 5,197,189 | 5,206,132 | 5,235,432 | 5,218,822 | 5,225,482 | - | - |
| Reference price 2 | 19.20 | 13.02 | 6.370 | 8.700 | 6.430 | 6.290 | 6.290 | 6.290 |
| Announcement Date | 06/02/20 | 05/02/21 | 16/02/22 | 30/03/23 | 21/03/24 | - | - | - |
1HKD in Million2HKD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 35,817 | 7,598 | 11,771 | 5,644 | 24,268 | 30,605 | 32,194 | 33,929 |
| EBITDA 1 | 10,701 | -1,836 | 747.7 | -1,948 | 6,621 | 8,895 | 9,361 | 9,936 |
| EBIT 1 | 6,365 | -5,403 | -2,657 | -4,888 | 3,702 | 5,977 | 6,349 | 6,700 |
| Operating Margin | 17.77% | -71.1% | -22.57% | -86.61% | 15.26% | 19.53% | 19.72% | 19.75% |
| Earnings before Tax (EBT) 1 | 5,020 | -7,207 | -5,181 | -7,327 | 1,214 | 2,994 | 3,802 | 4,360 |
| Net income 1 | 5,008 | -7,220 | -5,194 | -7,339 | 1,172 | 3,185 | 3,716 | 4,341 |
| Net margin | 13.98% | -95.02% | -44.12% | -130.04% | 4.83% | 10.41% | 11.54% | 12.79% |
| EPS 2 | 0.9700 | -1.390 | -1.000 | -1.410 | 0.1900 | 0.6024 | 0.7030 | 0.8172 |
| Free Cash Flow 1 | 6,749 | -4,457 | -1,688 | -2,469 | - | 7,673 | 7,306 | 8,305 |
| FCF margin | 18.84% | -58.66% | -14.34% | -43.74% | - | 25.07% | 22.69% | 24.48% |
| FCF Conversion (EBITDA) | 63.08% | - | - | - | - | 86.26% | 78.05% | 83.58% |
| FCF Conversion (Net income) | 134.78% | - | - | - | - | 240.88% | 196.58% | 191.31% |
| Dividend per Share 2 | 0.9000 | - | - | - | - | 0.1950 | 0.2642 | 0.3139 |
| Announcement Date | 06/02/20 | 05/02/21 | 16/02/22 | 30/03/23 | 21/03/24 | - | - | - |
1HKD in Million2HKD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 2,430 | 2,540 | 2,343 | 905.5 | 907 | 4,698 | 6,020 | 6,404 | 7,807 | 7,513 | 7,472 | 7,715 |
| EBITDA | - | - | -43.54 | - | - | - | - | 1,992 | - | 2,008 | 2,001 | 2,186 |
| EBIT 1 | -729.6 | -984.1 | -766.2 | -1,441 | -1,265 | 370.4 | 954.1 | 997.6 | 1,638 | 1,377 | 1,284 | 1,360 |
| Operating Margin | -30.02% | -38.74% | -32.71% | -159.18% | -139.47% | 7.88% | 15.85% | 15.58% | 23.26% | 18.33% | 17.19% | 17.63% |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - | - | - | - | - |
| Net income | - | - | - | - | - | - | - | - | - | - | - | - |
| Net margin | - | - | - | - | - | - | - | - | - | - | - | - |
| EPS 2 | - | -0.3100 | - | - | - | - | - | - | 0.2000 | 0.1500 | 0.1300 | 0.1400 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 10/11/21 | 16/02/22 | 11/05/22 | 29/08/22 | 10/11/22 | 10/05/23 | 10/08/23 | 10/11/23 | - | - | - | - |
1HKD in Million2HKD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 25,070 | 30,368 | 34,869 | 40,805 | - | 36,643 | 33,955 | 28,675 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 2.343 x | -16.54 x | 46.63 x | -20.94 x | - | 4.12 x | 3.627 x | 2.886 x |
| Free Cash Flow 1 | 6,749 | -4,457 | -1,688 | -2,469 | - | 7,673 | 7,306 | 8,305 |
| ROE (net income / shareholders' equity) | 289% | - | - | - | - | - | - | - |
| ROA (Net income/ Total Assets) | 10.5% | -14.2% | -11.1% | -18.8% | - | 7.28% | 7.71% | 8.73% |
| Assets 1 | 47,737 | 50,992 | 46,909 | 38,988 | - | 43,754 | 48,204 | 49,709 |
| Book Value Per Share 2 | 0.3800 | -1.030 | -1.930 | -3.300 | - | -2.540 | -2.010 | -1.380 |
| Cash Flow per Share 2 | 1.300 | -0.7200 | -0.2300 | -0.4100 | - | 2.020 | 1.800 | 1.900 |
| Capex 1 | 1,640 | 749 | 488 | 349 | - | 1,892 | 2,497 | 3,078 |
| Capex / Sales | 4.58% | 9.86% | 4.15% | 6.18% | - | 6.18% | 7.76% | 9.07% |
| Announcement Date | 06/02/20 | 05/02/21 | 16/02/22 | 30/03/23 | 21/03/24 | - | - | - |
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
Sell
Buy
Mean consensus
BUY
Number of Analysts
14
Last Close Price
6.29
HKD
Average target price
10.02
HKD
Spread / Average Target
+59.32%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +6.36% | 33.1B | |
| -8.21% | 21.46B | |
| +21.48% | 20.99B | |
| -17.14% | 20.36B | |
| +4.79% | 18.08B | |
| -29.45% | 16.87B | |
| +2.62% | 10.18B | |
| -20.18% | 8.17B | |
| +3.10% | 7.52B |
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