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SJM Holdings
(0880)
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Rating:44Neutral
Price Target:
HK$1.00
▼(-28.57% Downside)
Action:Reiterated
Date:09/27/26
The score is primarily held back by weak financial performance, notably the 2025 revenue drop, return to net losses, and high leverage. Technical indicators reinforce the caution with a bearish longer-term trend and negative MACD. Valuation is constrained by a negative P/E (loss-making) and no provided dividend yield.
Positive Factors
Integrated resort diversification
SJM combines gaming with hotels, dining, retail, and other guest services within integrated resorts. This diversified model can increase visitation and length of stay while creating multiple revenue streams, helping the company capture more customer spending than gaming alone.
Negative Factors
Revenue contraction and renewed loss
The 2025 revenue collapse and return to a net loss demonstrate that SJM's earnings remain highly sensitive to operating conditions. Persistent volatility can weaken reinvestment capacity, reduce resilience, and make it difficult to establish a consistently profitable earnings base.
Read all positive and negative factors
Positive Factors
Negative Factors
Integrated resort diversification
SJM combines gaming with hotels, dining, retail, and other guest services within integrated resorts. This diversified model can increase visitation and length of stay while creating multiple revenue streams, helping the company capture more customer spending than gaming alone.
Read all positive factors
SJM Holdings (0880) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$8.31B
Dividend Yield3.09%
Average Volume (3M)6.29M
Price to Earnings (P/E)―
Beta (1Y)0.79
Revenue Growth-16.41%
EPS Growth-3217.39%
CountryHK
Employees20,400
SectorConsumer Cyclical
Sector Strength84
IndustryGambling, Resorts & Casinos
Share Statistics
EPS (TTM)-0.08
Shares Outstanding7,101,805,000
10 Day Avg. Volume5,691,999
30 Day Avg. Volume6,294,093
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)1.27
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$1.43Price Target Upside2.23% Upside
Rating ConsensusModerate Sell
Number of Analyst Covering8
EPS Forecast (FY)-0.03
Revenue Forecast (FY)HK$23.54B
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 casino gaming and integrated resort activities in Macau.
1) Core revenue stream: casino gaming
- The company earns the majority of its revenue from gaming activities at its casinos (e.g., table game...
SJM Holdings Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
39
Negative
Cash Flow
52
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 20.29B | 28.17B | 17.24B | 13.14B | 4.00B | 5.89B |
| Gross Profit | 12.79B | 15.95B | 16.50B | 12.50B | 3.60B | 5.55B |
| EBITDA | 3.03B | 3.06B | 3.92B | 1.93B | -4.77B | -2.58B |
| Net Income | -541.50M | -429.00M | 3.20M | -2.01B | -7.80B | -4.14B |
Balance Sheet | ||||||
| Total Assets | 51.04B | 51.21B | 48.72B | 49.74B | 52.65B | 49.91B |
| Cash, Cash Equivalents and Short-Term Investments | 2.56B | 2.08B | 2.21B | 3.54B | 6.86B | 3.20B |
| Total Debt | 31.22B | 30.28B | 27.46B | 29.09B | 32.77B | 23.86B |
| Total Liabilities | 37.57B | 37.42B | 34.55B | 35.65B | 36.63B | 29.50B |
| Stockholders Equity | 13.17B | 13.47B | 13.92B | 13.36B | 16.00B | 20.34B |
Cash Flow | ||||||
| Free Cash Flow | -517.60M | 603.90M | 2.30B | 2.11B | -5.29B | -5.99B |
| Operating Cash Flow | 1.45B | 2.90B | 4.06B | 3.80B | -4.22B | -4.54B |
| Investing Cash Flow | -4.01B | -4.19B | -1.41B | -1.27B | -2.02B | -787.70M |
| Financing Cash Flow | 2.56B | 1.07B | -3.74B | -5.71B | 9.49B | 3.04B |
SJM Holdings Technical Analysis
Negative
1.40
Price Trends
1.36
Negative
1.45
Negative
1.83
Negative
Market Momentum
-0.05
Positive
28.13
Positive
24.84
Neutral
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 1.4 is above the 20-day moving average (MA) of 1.26, above the 50-day MA of 1.36, and below the 200-day MA of 1.83, indicating a bearish trend. The MACD of -0.05 indicates Positive momentum. The RSI at 28.13 is Positive, neither overbought nor oversold. The STOCH value of 24.84 is Neutral, 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 |
|---|---|---|---|---|---|---|---|
80 Outperform | HK$138.15B | 12.88 | 12.77% | 5.39% | 8.39% | 11.34% | |
64 Neutral | HK$34.01B | 7.46 | 129.87% | 6.74% | 11.01% | 6.83% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
60 Neutral | HK$23.88B | 7.90 | -22.18% | 9.89% | 9.38% | 60.07% | |
59 Neutral | HK$86.28B | 12.56 | 65.49% | 9.38% | 8.73% | -3.66% | |
52 Neutral | HK$5.29B | 5.07 | 52.47% | 0.66% | 6.61% | ― | |
44 Neutral | HK$8.31B | -15.33 | -4.07% | 3.09% | -16.41% | -3217.39% |
* Consumer Cyclical Sector Average
HK:0880
SJM Holdings
1.14
-1.74
-60.42%
HK:0200
Melco International
2.26
-2.46
-52.12%
HK:2282
MGM China Holdings
8.92
-5.28
-37.18%
HK:0027
Galaxy Entertainment Group
31.10
-5.70
-15.49%
HK:1928
Sands China
10.48
-8.61
-45.11%
HK:1128
Wynn Macau
4.50
-1.69
-27.26%
SJM Holdings Corporate Events
SJM Holdings Schedules Board Meeting to Approve Q3 2026 Key Performance Indicators
Oct 26, 2026
SJM Holdings Limited has announced that its board of directors will convene a meeting on 5 November 2026 to consider and approve the release of selected unaudited key performance indicators. These indicators will cover the group’s operating ...
SJM Resorts Commits Nearly MOP1 Billion to Macao Government Guidance Fund
Oct 23, 2026
SJM Resorts, a subsidiary of SJM Holdings, has agreed to subscribe for interests in the Macao SAR Government Guidance Fund No. 2 with a total capital commitment of MOP992.7 million, equivalent to about HK$963.8 million. These capital contributions...
SJM Holdings Interim 2026 Revenue Falls as Loss Widens and Debt Stays High
Aug 25, 2026
SJM Holdings reported a sharp decline in interim 2026 revenue, with total group net revenue down 20.8% to HK$11.59 billion and net gaming revenue falling 22.5%, while adjusted EBITDA edged up 3.3% to HK$1.70 billion. The group remained loss-making...
SJM Holdings Sets August Board Meeting to Review 2026 Interim Results
Aug 13, 2026
SJM Holdings Limited has scheduled a board meeting for 25 August 2026 to review and approve the group’s unaudited interim results for the six months ended 30 June 2026. The board will also consider whether to declare an interim dividend, sig...
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.