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Sands China
(1928)
Sands China (1928) vs. iShares MSCI Hong Kong ETF (EWH)
Sands China Business Overview & Revenue Model
Sands China Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 7.02B | 7.08B | 6.53B | 1.60B | 2.87B | 1.69B |
| Gross Profit | 4.08B | 4.18B | 5.24B | 487.00M | 1.73B | 549.00M |
| EBITDA | 2.06B | 2.15B | 2.02B | -427.00M | 25.00M | -557.00M |
| Net Income | 917.00M | 1.04B | 692.00M | -1.58B | -1.05B | -1.52B |
Balance Sheet | ||||||
| Total Assets | 10.08B | 11.17B | 10.26B | 10.56B | 10.09B | 10.55B |
| Cash, Cash Equivalents and Short-Term Investments | 985.00M | 1.97B | 1.36B | 790.00M | 678.00M | 861.00M |
| Total Debt | 7.09B | 8.16B | 8.33B | 10.20B | 7.95B | 7.04B |
| Total Liabilities | 8.96B | 10.14B | 10.26B | 11.26B | 9.21B | 8.62B |
| Stockholders Equity | 1.12B | 1.03B | -4.00M | -700.00M | 888.00M | 1.93B |
Cash Flow | ||||||
| Free Cash Flow | 993.00M | 1.21B | 2.09B | -676.00M | -476.00M | -1.83B |
| Operating Cash Flow | 1.97B | 2.07B | 2.29B | -473.00M | 88.00M | -816.00M |
| Investing Cash Flow | -924.00M | -810.00M | -180.00M | -325.00M | -634.00M | -1.02B |
| Financing Cash Flow | -1.85B | -658.00M | -2.45B | 1.82B | 366.00M | 231.00M |
Sands China Technical Analysis
Sands China Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | HK$48.64B | 11.30 | 452.88% | 5.73% | 5.59% | -4.38% | |
72 Outperform | $171.41B | 17.82 | 12.59% | 3.06% | 4.94% | 15.38% | |
72 Outperform | $151.75B | 21.24 | 111.35% | 2.39% | -3.13% | -13.65% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
61 Neutral | $30.92B | 16.72 | ― | 5.92% | -4.41% | -31.45% | |
55 Neutral | HK$20.92B | 10.35 | 11.98% | 1.63% | 8.23% | 175.51% | |
40 Neutral | HK$16.76B | -1,026.09 | -0.13% | ― | 12.29% | 98.20% |
Sands China Corporate Events
Sands China has signed a 2026 Shared Services Renewal Agreement with its controlling shareholder Las Vegas Sands to extend their existing shared services arrangement for three years from 1 January 2026 to 31 December 2028. The renewed agreement covers the continued provision of marketing services targeting casino patrons and loyalty card members, as well as transportation and related services and certain fully exempt transactions between the two groups, with fees for marketing services charged on a cost basis and allocated in a fair and equitable manner. As LVS is a connected person under Hong Kong’s Listing Rules, these transactions are classified as continuing connected transactions subject to reporting, announcement and annual review requirements, but they remain exempt from independent shareholders’ approval, ensuring regulatory compliance while formalising operational support between Sands China and LVS.
The most recent analyst rating on (HK:1928) stock is a Buy with a HK$24.50 price target. To see the full list of analyst forecasts on Sands China stock, see the HK:1928 Stock Forecast page.
Sands China has renewed its international trademark license arrangement with controlling shareholder Las Vegas Sands, securing continued rights for its subsidiaries to use LVS-owned trademarks and related intellectual property for casino, gaming and integrated resort operations in mainland China, Macao, Hong Kong and Taiwan, as well as for global marketing of its business in these territories, for a further three-year term from 1 January 2026 to 31 December 2028. Under the renewed agreement, the LVS group will receive an annual royalty equal to 1.5% of each licensee’s gross gaming and non-gaming revenue, calculated under specified U.S. GAAP-based definitions and paid monthly, with the deal classified as a continuing connected transaction under Hong Kong’s listing rules that requires disclosure and annual review but is exempt from independent shareholders’ approval, thereby maintaining brand continuity for Sands China’s core operations while preserving the existing related-party governance framework.
The most recent analyst rating on (HK:1928) stock is a Buy with a HK$24.50 price target. To see the full list of analyst forecasts on Sands China stock, see the HK:1928 Stock Forecast page.
Sands China Ltd. announced the financial results of its controlling shareholder, Las Vegas Sands Corp. (LVS), for the fiscal third quarter ended September 30, 2025. LVS, which owns a majority stake in Sands China, filed its quarterly report with the SEC, highlighting financial information prepared under US GAAP, differing from the IFRS used by Sands China. The announcement underscores the importance of understanding these accounting differences for stakeholders and potential investors in Sands China.
The most recent analyst rating on (HK:1928) stock is a Hold with a HK$21.50 price target. To see the full list of analyst forecasts on Sands China stock, see the HK:1928 Stock Forecast page.
Sands China Ltd. reported an increase in total net revenues by 7.5% to US$1.90 billion for the third quarter of 2025, compared to the same period in 2024. The company’s net income rose slightly to US$272 million, and its adjusted property EBITDA increased to US$601 million. These results reflect the company’s strategic investments in Macao and Singapore, positioning it for future growth in the hospitality and gaming sectors.
The most recent analyst rating on (HK:1928) stock is a Buy with a HK$24.00 price target. To see the full list of analyst forecasts on Sands China stock, see the HK:1928 Stock Forecast page.
Sands China Ltd. announced the composition of its board of directors and the establishment of five committees, including the Audit, Remuneration, Nomination, Capex, and ESG Committees. This organizational structure aims to enhance governance and operational efficiency, potentially impacting the company’s strategic direction and stakeholder engagement.
The most recent analyst rating on (HK:1928) stock is a Buy with a HK$23.00 price target. To see the full list of analyst forecasts on Sands China stock, see the HK:1928 Stock Forecast page.
Sands China Ltd. has updated the terms of reference for its Environmental, Social, and Governance (ESG) Committee, which was initially established in 2021. The ESG Committee is tasked with overseeing the company’s ESG strategy, reporting, and policy implementation. This update reflects Sands China’s commitment to enhancing its governance of environmental and social matters, potentially impacting its operational transparency and stakeholder trust.
The most recent analyst rating on (HK:1928) stock is a Buy with a HK$25.50 price target. To see the full list of analyst forecasts on Sands China stock, see the HK:1928 Stock Forecast page.
Sands China Ltd. has announced the appointment of Ms. Chung Kit Yi Kitty as an Independent Non-Executive Director and a member of the Audit Committee, effective October 16, 2025. Ms. Chung brings extensive experience in auditing, accounting, and financial management, having previously served as a partner at PricewaterhouseCoopers. Her appointment is expected to enhance the company’s governance and oversight capabilities, potentially strengthening its market position and stakeholder confidence.
The most recent analyst rating on (HK:1928) stock is a Buy with a HK$25.50 price target. To see the full list of analyst forecasts on Sands China stock, see the HK:1928 Stock Forecast page.