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NagaCorp Ltd. (HK:3918)
:3918

NagaCorp (3918) AI Stock Analysis

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HK

NagaCorp

(OTC:3918)

Rating:58Neutral
Price Target:
NagaCorp's stock score reflects a stable yet cautious outlook. Income growth and a strong balance sheet are positive, but operational challenges and missing cash flow data require attention. Technical analysis and valuation indicate a neutral market position with no strong buy or sell signals.

NagaCorp (3918) vs. iShares MSCI Hong Kong ETF (EWH)

NagaCorp Business Overview & Revenue Model

Company DescriptionNagaCorp Ltd (3918) is a leading gaming and entertainment company primarily operating in Cambodia. It is headquartered in Phnom Penh and is known for its flagship property, NagaWorld, which encompasses a hotel, gaming, and entertainment complex. The company is involved in the development, operation, and management of integrated resorts, offering a range of gaming, leisure, and hospitality services to both domestic and international visitors.
How the Company Makes MoneyNagaCorp generates revenue primarily through its integrated resort operations, with significant earnings from its casino gaming activities. The company's key revenue streams include gaming operations, which encompass mass market table games, electronic gaming machines, and VIP gaming. Non-gaming revenue is derived from hotel accommodations, food and beverage services, entertainment events, and retail operations within its resort complex. The company benefits from its strategic location in Phnom Penh, attracting tourists and business travelers, and it leverages its license to operate the only integrated casino resort in the city. NagaCorp also capitalizes on partnerships with junket operators to bring in high-rolling VIP customers, contributing a substantial portion to its gaming revenue.

NagaCorp Financial Statement Overview

Summary
NagaCorp presents a mixed financial position. While there is income growth and improved balance sheet leverage, operational challenges and missing cash flow data highlight concerns. Stability is noted, but cash flow management requires attention.
Income Statement
65
Positive
NagaCorp shows a moderate recovery trend in revenue and net income since 2021, with a noticeable revenue growth of 5.26% in 2024. However, gross and net profit margins have remained relatively stable around 86% and 20% respectively. The EBIT and EBITDA margins have decreased, indicating some operational challenges.
Balance Sheet
70
Positive
The company maintains a solid equity position with a high equity ratio of approximately 87.6% in 2024, suggesting financial stability. The debt-to-equity ratio has improved to 0.06, showing reduced leverage. Return on equity is moderate at 5.08%, reflecting steady profitability.
Cash Flow
40
Negative
Cash flow analysis shows weaknesses due to unreported operating, investing, and financing cash flows for 2024. The company had a strong free cash flow in 2023, but the lack of cash flow data for 2024 raises concerns about liquidity management.
Breakdown
Dec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income StatementTotal Revenue
528.36M501.98M435.56M213.62M878.68M
Gross Profit
456.69M421.64M375.97M143.53M427.00M
EBIT
110.86M198.68M131.72M-103.61M165.36M
EBITDA
202.85M295.34M245.42M15.57M265.23M
Net Income Common Stockholders
109.59M177.73M107.25M-147.02M102.30M
Balance SheetCash, Cash Equivalents and Short-Term Investments
129.42M368.89M156.00M102.72M437.74M
Total Assets
2.46B2.75B2.59B2.43B2.55B
Total Debt
121.93M525.37M533.67M613.90M699.53M
Net Debt
1.54M176.99M377.67M511.17M261.79M
Total Liabilities
304.46M726.21M740.33M777.62M892.86M
Stockholders Equity
2.16B2.02B1.85B1.65B1.66B
Cash FlowFree Cash Flow
0.00234.25M178.33M-114.30M51.29M
Operating Cash Flow
0.00289.12M306.54M35.95M213.12M
Investing Cash Flow
0.00-42.91M-124.43M-145.24M-118.70M
Financing Cash Flow
0.00-53.83M-128.83M-225.73M69.95M

NagaCorp Technical Analysis

Technical Analysis Sentiment
Positive
Last Price3.81
Price Trends
50DMA
3.40
Positive
100DMA
3.27
Positive
200DMA
3.23
Positive
Market Momentum
MACD
0.13
Negative
RSI
60.58
Neutral
STOCH
70.97
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:3918, the sentiment is Positive. The current price of 3.81 is above the 20-day moving average (MA) of 3.62, above the 50-day MA of 3.40, and above the 200-day MA of 3.23, indicating a bullish trend. The MACD of 0.13 indicates Negative momentum. The RSI at 60.58 is Neutral, neither overbought nor oversold. The STOCH value of 70.97 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:3918.

NagaCorp Peers Comparison

Overall Rating
UnderperformOutperform
Sector (62)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
76
Outperform
$40.82B8.87
2.04%26.22%74.49%
66
Neutral
$125.12B15.34203.51%1.74%6.04%50.60%
62
Neutral
$6.88B11.322.90%3.87%2.70%-24.57%
58
Neutral
$16.85B19.745.24%5.15%-38.63%
57
Neutral
HK$1.09B12.471.09%5.78%2.80%122.42%
50
Neutral
HK$517.17M9.883.77%-11.44%111.76%
39
Underperform
$16.62B5,850.000.03%31.24%
* Consumer Cyclical Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
HK:3918
NagaCorp
3.81
-0.11
-2.81%
HK:1028
C.banner International Holdings Ltd.
0.25
0.08
47.06%
HK:0222
Min Xin Holdings Limited
1.83
-0.40
-18.08%
HK:2282
MGM China Holdings
10.74
-2.99
-21.77%
HK:1928
Sands China
15.46
-2.50
-13.93%
HK:0880
SJM Holdings
2.34
-0.42
-15.22%

NagaCorp Corporate Events

NagaCorp Announces Upcoming Annual General Meeting with Key Resolutions
Apr 28, 2025

NagaCorp Ltd. has announced its upcoming annual general meeting scheduled for June 30, 2025, in Hong Kong. The meeting will address several key agenda items including the adoption of financial statements, re-election of directors, and authorization of board actions. The resolutions to be discussed include the re-appointment of BDO Limited as the independent auditor and the authorization for the board to manage share allotments and director remuneration. These decisions are poised to impact the company’s governance and operational strategies, potentially influencing its market position and stakeholder interests.

NagaCorp Reports Strong Q1 2025 Gaming Revenue Growth
Apr 7, 2025

NagaCorp Ltd. announced its unaudited operational highlights for the first quarter of 2025, revealing significant growth in its gaming sector. The company reported a 17.7% increase in Gross Gaming Revenue and a 20.6% rise in Net Gaming Revenue compared to the same period in 2024, with notable growth in both the mass market and VIP gaming segments. This performance underscores NagaCorp’s strong market position and potential positive implications for stakeholders.

NagaCorp Reports Revenue Growth Amidst Profit Decline Due to Impairment Loss
Mar 25, 2025

NagaCorp Ltd. reported a 5.5% increase in Gross Gaming Revenue (GGR) for the year ended December 31, 2024, reaching US$542.9 million. Despite this growth, the company’s net profit decreased by 38.3% to US$109.6 million, primarily due to a non-cash impairment loss related to the Vladivostok Project. The mass market segment, particularly the Mass Market Tables, significantly contributed to the company’s performance, driven by strategic initiatives and operational improvements, including the introduction of a high-limit gaming area at NagaWorld. This segment accounted for 70.2% of total revenue, highlighting its importance in NagaCorp’s financial performance.

NagaCorp Schedules Board Meeting to Approve 2024 Financial Results
Mar 13, 2025

NagaCorp Ltd. has announced a board meeting scheduled for March 25, 2025, to approve the company’s final results for the year ended December 31, 2024, and consider the recommendation of a final dividend. This meeting is significant as it will determine the company’s financial performance and potential shareholder returns, impacting its market positioning and stakeholder interests.

Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.

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.