NagaCorp (3918) AI Stock Analysis

• Market Cap: HK$21.94B
• Dividend Yield: 1.58%
• Average Volume (3M): 4.37M
• Price to Earnings (P/E): 10.9
• Beta (1Y): 0.90
• Revenue Growth: 8.23%
• EPS Growth: 175.51%
• Country: HK
• Employees: 6,062
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Gambling, Resorts & Casinos
• EPS (TTM): 0.26
• Shares Outstanding: 4,422,990,000
• 10 Day Avg. Volume: 5,067,952
• 30 Day Avg. Volume: 4,369,713
• PEG Ratio: -0.39
• Price to Book (P/B): 0.77
• Price to Sales (P/S): 3.13
• P/FCF Ratio: 8.69
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: HK$6.77
• Price Target Upside: 20.66% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): 0.58
• Revenue Forecast (FY): HK$5.73B

• Rating: 55 Neutral
• Price Target: HK$5.50 ▼(-1.96% Downside)

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

Revenue Growth

Consistent revenue growth indicates a strong market position and effective business strategies, supporting long-term financial health.

Balance Sheet Health

A robust equity ratio and reduced leverage enhance financial stability, providing resilience against economic fluctuations.

Market Position

NagaCorp's strategic location and partnerships bolster its competitive advantage, driving sustained customer inflow and revenue.

Negative Factors

Operational Challenges

Decreasing margins suggest operational inefficiencies, which could hinder profitability and require strategic adjustments.

Cash Flow Concerns

Lack of cash flow data impedes liquidity assessment, potentially affecting the company's ability to manage financial obligations.

Profit Margin Stability

Stable profit margins, while consistent, may indicate limited room for profitability improvement without cost management or revenue growth.

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 in Phnom Penh, featuring a wide range of gaming options, hotel accommodations, and entertainment services. NagaCorp also focuses on expanding its operations and enhancing its offerings in the hospitality and tourism sectors, catering to both domestic and international markets.

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 entertainment services provided at its resort. The strategic location of NagaWorld, close to the Vietnamese border, allows NagaCorp to attract a significant number of visitors from neighboring countries. Additionally, NagaCorp benefits from partnerships with travel agencies and tour operators that promote its offerings. The company's revenue model is further supported by its focus on VIP gaming customers, who contribute a substantial portion of the gaming revenue. Overall, the combination of diverse gaming options, hospitality services, and effective marketing strategies enables NagaCorp to maintain a steady stream of income.

NagaCorp Financial Statement Overview

Summary

NagaCorp presents a mixed financial position. Income growth and improved balance sheet leverage are positive signs, but operational challenges and missing cash flow data highlight areas of concern. The company's financial health appears stable yet warrants closer attention to cash flow management.

Income Statement

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

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

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	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

• Technical Analysis Sentiment: Negative
• Last Price: 5.61
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: 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 5.07, above the 50-day MA of 5.36, and above the 200-day MA of 4.40, indicating a neutral trend. The MACD of -0.03 indicates Negative momentum. The RSI at 42.53 is Neutral, neither overbought nor oversold. The STOCH value of 32.49 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
2282	74 Outperform	$58.47B	13.58	452.88%	5.62%	5.59%	-4.38%
0027	72 Outperform	$174.30B	18.32	12.59%	3.08%	4.94%	15.38%
1928	72 Outperform	$158.87B	22.24	111.35%	2.41%	-3.13%	-13.65%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
1128	61 Neutral	$34.07B	18.43	―	5.92%	-4.41%	-31.45%
3918	55 Neutral	HK$21.94B	10.86	11.98%	1.58%	8.23%	175.51%
0880	40 Neutral	$18.54B	―	-0.13%	―	12.29%	98.20%

NagaCorp Corporate Events

NagaCorp Reports Strong Growth in Gaming Revenue for 3Q2025

NagaCorp Ltd. announced unaudited operational highlights for its gaming branch for the nine months ending September 30, 2025, showing significant growth in various segments. The company reported a 29.6% increase in Gross Gaming Revenue and a 30% rise in Net Gaming Revenue compared to the same period in 2024, with notable increases in both mass market and VIP market activities, indicating strong performance and potential positive implications for stakeholders.