NagaCorp Ltd. (HK:3918)
:3918
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NagaCorp
(3918)
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Rating:55Neutral
Price Target:
HK$4.50
▼(-19.79% Downside)
Action:ReiteratedDate:10/31/25
NagaCorp's stock score is primarily influenced by its mixed financial performance and bearish technical indicators. While the company shows financial stability with income growth and improved leverage, operational challenges and missing cash flow data are concerns. The technical analysis indicates bearish momentum, which could impact short-term performance. The valuation is reasonable, but the low dividend yield may not attract income investors.
Positive Factors
Very low leverage and high equity ratio
A very high equity ratio and minimal leverage materially reduce bankruptcy and refinancing risk, giving the company durable financial flexibility. This balance sheet strength supports capital expenditure, expansion of NagaWorld and cushions cyclical downturns in tourism-driven gaming revenues.
Negative Factors
Unreported 2024 cash flow details
Missing 2024 cash flow disclosures hinder assessment of current liquidity, free cash generation and working capital trends. Persistent gaps reduce visibility into the firm's ability to fund operations, service obligations, pay dividends or finance growth without external capital.
Read all positive and negative factors
Positive Factors
Negative Factors
Very low leverage and high equity ratio
A very high equity ratio and minimal leverage materially reduce bankruptcy and refinancing risk, giving the company durable financial flexibility. This balance sheet strength supports capital expenditure, expansion of NagaWorld and cushions cyclical downturns in tourism-driven gaming revenues.
Read all positive factors
NagaCorp (3918) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$17.47B
Dividend Yield1.63%
Average Volume (3M)4.94M
Price to Earnings (P/E)8.5
Beta (1Y)0.90
Revenue Growth26.04%
EPS Growth183.06%
CountryHK
Employees6,062
SectorConsumer Cyclical
Sector Strength84
IndustryGambling, Resorts & Casinos
Share Statistics
EPS (TTM)0.31
Shares Outstanding4,422,990,000
10 Day Avg. Volume7,695,697
30 Day Avg. Volume4,939,267
Financial Highlights & Ratios
PEG Ratio-0.39
Price to Book (P/B)0.77
Price to Sales (P/S)3.13
P/FCF Ratio8.69
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$6.73Price Target Upside19.88% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)0.08
Revenue Forecast (FY)HK$756.70M
NagaCorp Business Overview & Revenue Model
Company Description
NagaCorp Ltd. (3918) is a leading gaming and entertainment company based in Cambodia, primarily engaged in the development and operation of integrated resort facilities. The company's flagship property, NagaWorld, is a luxury casino resort located...
How the Company Makes Money
NagaCorp generates revenue primarily through its gaming operations, which include a variety of casino games such as table games, slot machines, and electronic gaming machines. The company also earns income from hotel accommodations, dining, and en...
NagaCorp Financial Statement Overview
Summary
Income Statement
65
Positive
Balance Sheet
70
Positive
Cash Flow
40
Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 573.44M | 528.36M | 501.98M | 435.56M | 213.62M | 878.68M |
| Gross Profit | 501.57M | 456.69M | 421.64M | 375.97M | 143.53M | 427.00M |
| EBITDA | 349.29M | 202.85M | 295.34M | 245.42M | 15.57M | 265.23M |
| Net Income | 259.35M | 109.59M | 177.73M | 107.25M | -147.02M | 102.30M |
Balance Sheet | ||||||
| Total Assets | 2.58B | 2.46B | 2.75B | 2.59B | 2.43B | 2.55B |
| Cash, Cash Equivalents and Short-Term Investments | 251.57M | 129.42M | 368.89M | 178.92M | 124.26M | 476.17M |
| Total Debt | 120.57M | 121.93M | 525.37M | 533.67M | 613.90M | 699.53M |
| Total Liabilities | 279.42M | 304.46M | 726.21M | 740.33M | 777.62M | 892.86M |
| Stockholders Equity | 2.31B | 2.16B | 2.02B | 1.85B | 1.65B | 1.66B |
Cash Flow | ||||||
| Free Cash Flow | 45.85M | 190.68M | 234.25M | 178.33M | -114.30M | 51.29M |
| Operating Cash Flow | 135.43M | 306.62M | 289.12M | 306.54M | 35.95M | 213.12M |
| Investing Cash Flow | 401.47M | -85.79M | -42.91M | -124.43M | -145.24M | -118.70M |
| Financing Cash Flow | -496.18M | -448.82M | -53.83M | -128.83M | -225.73M | 69.95M |
NagaCorp Technical Analysis
Negative
5.61
Price Trends
4.22
Negative
4.50
Negative
4.79
Negative
Market Momentum
<0.01
Negative
47.13
Neutral
40.25
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:3918, the sentiment is Negative. The current price of 5.61 is above the 20-day moving average (MA) of 4.09, above the 50-day MA of 4.22, and above the 200-day MA of 4.79, indicating a bearish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 47.13 is Neutral, neither overbought nor oversold. The STOCH value of 40.25 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:3918.
NagaCorp Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | HK$146.37B | 15.71 | 13.12% | 3.06% | 9.63% | 21.77% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
61 Neutral | HK$44.27B | 9.82 | 194.66% | 5.73% | 10.97% | 10.35% | |
61 Neutral | HK$30.27B | 19.06 | -11.87% | 5.92% | -1.98% | -49.13% | |
55 Neutral | HK$17.47B | 8.53 | 13.18% | 1.63% | 26.04% | 183.06% | |
52 Neutral | HK$132.25B | 22.71 | 71.16% | 2.39% | 4.17% | -14.33% | |
43 Neutral | HK$14.77B | -39.90 | -3.15% | ― | -3.01% | -15200.00% |
* Consumer Cyclical Sector Average
HK:3918
NagaCorp
3.95
0.69
21.24%
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2.08
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Wynn Macau
5.75
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17.78%
NagaCorp Corporate Events
NagaCorp Terminates Naga 3 Subscription Agreement, Continues Project Development
Dec 15, 2025
NagaCorp Ltd. has mutually agreed with its subscriber to terminate the Naga 3 Subscription Agreement due to changing macroeconomic conditions. Despite the termination, which includes forfeiting a $316 million cash advance, the company plans to con...
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.