SJM Holdings (HK:0880)
:0880
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SJM Holdings
(0880)
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Rating:43Neutral
Price Target:
HK$1.50
▼(-28.57% Downside)
Action:Reiterated
Date:06/27/26
The score is held down primarily by weakened 2025 financial performance (revenue drop and renewed net loss) alongside high leverage, which increases downside sensitivity. Technicals add further pressure with price below all key moving averages and negative MACD, while valuation offers limited support given loss-making earnings and no dividend yield data.
Positive Factors
High gross profitability
SJM's consistently very high gross profitability provides a durable buffer to absorb operating variability and fixed resort costs. High gross margins on gaming and resort services support ongoing cash generation and allow management to prioritize debt servicing and selective reinvestment over multiple cycles.
Negative Factors
High leverage
Elevated debt-to-equity (~2.0x–2.25x) materially increases financial risk and reduces flexibility to absorb demand shocks. High leverage raises interest and refinancing pressures, constrains capacity for discretionary capex or marketing, and heightens downside sensitivity if Macau visitation or spending weakens.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross profitability
SJM's consistently very high gross profitability provides a durable buffer to absorb operating variability and fixed resort costs. High gross margins on gaming and resort services support ongoing cash generation and allow management to prioritize debt servicing and selective reinvestment over multiple cycles.
Read all positive factors
SJM Holdings (0880) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$10.30B
Dividend YieldN/A
Average Volume (3M)19.42M
Price to Earnings (P/E)―
Beta (1Y)0.79
Revenue Growth-3.01%
EPS Growth-15200.00%
CountryHK
Employees20,400
SectorConsumer Cyclical
Sector Strength84
IndustryGambling, Resorts & Casinos
Share Statistics
EPS (TTM)-0.06
Shares Outstanding7,101,805,000
10 Day Avg. Volume26,815,311
30 Day Avg. Volume19,417,506
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)1.33
Price to Sales (P/S)0.61
P/FCF Ratio28.34
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$1.93Price Target Upside-8.33% Downside
Rating ConsensusStrong Sell
Number of Analyst Covering4
EPS Forecast (FY)0.03
Revenue Forecast (FY)HK$25.16B
SJM Holdings Business Overview & Revenue Model
Company Description
SJM Holdings Limited functions as an investment holding company, primarily involved in the ownership, development, and operation of casinos and their related facilities. Its business footprint spans Macau, Hong Kong, and various international mark...
How the Company Makes Money
SJM Holdings makes money primarily by operating casinos in Macau and earning revenue from casino gaming. Its core revenue stream is gaming revenue generated from table games (e.g., baccarat and other live-dealer games) and electronic gaming/slot m...
SJM Holdings Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
39
Negative
Cash Flow
52
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 28.17B | 17.24B | 13.14B | 4.00B | 5.89B |
| Gross Profit | 15.95B | 16.50B | 12.50B | 3.60B | 5.55B |
| EBITDA | 2.91B | 3.92B | 1.93B | -4.77B | -2.58B |
| Net Income | -429.00M | 3.20M | -2.01B | -7.80B | -4.14B |
Balance Sheet | |||||
| Total Assets | 51.21B | 48.72B | 49.74B | 52.65B | 49.91B |
| Cash, Cash Equivalents and Short-Term Investments | 2.08B | 2.21B | 3.54B | 6.86B | 3.20B |
| Total Debt | 30.28B | 27.46B | 29.09B | 32.77B | 23.86B |
| Total Liabilities | 37.42B | 34.55B | 35.65B | 36.63B | 29.50B |
| Stockholders Equity | 12.89B | 13.92B | 13.36B | 16.00B | 20.34B |
Cash Flow | |||||
| Free Cash Flow | 603.90M | 2.30B | 2.11B | -5.29B | -5.99B |
| Operating Cash Flow | 2.90B | 4.06B | 3.80B | -4.22B | -4.54B |
| Investing Cash Flow | -4.19B | -1.41B | -1.27B | -2.02B | -787.70M |
| Financing Cash Flow | 1.07B | -3.74B | -5.71B | 9.49B | 3.04B |
SJM Holdings Technical Analysis
Negative
2.10
Price Trends
1.89
Negative
2.09
Negative
2.42
Negative
Market Momentum
-0.12
Positive
15.16
Positive
8.12
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0880, the sentiment is Negative. The current price of 2.1 is above the 20-day moving average (MA) of 1.72, above the 50-day MA of 1.89, and below the 200-day MA of 2.42, indicating a bearish trend. The MACD of -0.12 indicates Positive momentum. The RSI at 15.16 is Positive, neither overbought nor oversold. The STOCH value of 8.12 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:0880.
SJM Holdings Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | HK$127.81B | 11.97 | 13.12% | 3.06% | 9.63% | 21.77% | |
63 Neutral | HK$37.66B | 7.40 | 194.66% | 5.73% | 10.97% | 10.35% | |
62 Neutral | HK$7.08B | 6.24 | 73.50% | ― | 12.09% | ― | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
56 Neutral | HK$26.22B | 15.85 | -11.87% | 5.92% | -1.98% | -49.13% | |
52 Neutral | HK$104.40B | 14.86 | 71.09% | 2.39% | 4.17% | -14.33% | |
43 Neutral | HK$10.30B | -23.97 | -3.22% | ― | -3.01% | -15200.00% |
* Consumer Cyclical Sector Average
HK:0880
SJM Holdings
1.45
-1.08
-42.69%
HK:0200
Melco International
3.12
-0.92
-22.77%
HK:2282
MGM China Holdings
9.91
-2.30
-18.84%
HK:0027
Galaxy Entertainment Group
29.20
-4.22
-12.62%
HK:1928
Sands China
12.90
-2.73
-17.46%
HK:1128
Wynn Macau
4.98
-0.09
-1.79%
SJM Holdings Corporate Events
SJM Holdings Wins Strong Shareholder Backing for All AGM Resolutions
Jun 9, 2026
Shareholders of SJM Holdings approved all resolutions at the 9 June 2026 annual general meeting, including adoption of the 2025 audited financial statements, re-election of three executive directors and authorization for the board to set directors...
SJM Holdings Slips to Q1 Loss as Gaming Revenue Declines but Margins Improve
May 7, 2026
SJM Holdings reported a decline in net gaming revenue to HK$5.36 billion for the first quarter of 2026 from HK$6.95 billion a year earlier, while Adjusted EBITDA eased slightly to HK$917 million but saw margin improvement to 15.5% from 12.8%. The ...
SJM Holdings Sets 2026 AGM to Approve Results, Board Mandates
Apr 27, 2026
SJM Holdings has called its annual general meeting for 9 June 2026 in Hong Kong, where shareholders will review and adopt the audited financial statements and directors’ and auditor’s reports for the year ended 31 December 2025. The ag...
SJM Holdings Sets May Board Meeting to Approve Q1 2026 KPI Disclosure
Apr 24, 2026
SJM Holdings Limited has scheduled a board meeting for 7 May 2026 to consider and approve the release of selected unaudited key performance indicators for the group covering the three months ended 31 March 2026. The forthcoming publication of thes...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.