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NagaCorp (3918) AI Stock Analysis
NagaCorp
(HKEX:3918)
The score is driven primarily by strong financial performance (sharp profitability rebound, improved leverage, and solid free cash flow) and attractive valuation (low P/E and ~6% dividend yield). These positives are partially offset by weak technicals, with the stock trading below key moving averages and showing bearish momentum indicators.
NagaCorp (3918) vs. iShares MSCI Hong Kong ETF (EWH)
- Market Cap
- HKD 1.33B
- Dividend Yield
- 7.30%
- Average Volume (3M)
- 3.44M
- Price to Earnings (P/E)
- 4.1
- Beta (1Y)
- 1.00
- Revenue Growth
- 11.65%
- EPS Growth
- 17.97%
- Country
- Hong Kong
- Employees
- 5,944
- Sector
- Consumer Cyclical
- Sector Strength
- 61
- Industry
- Gambling, Resorts & Casinos
NagaCorp Business Overview & Revenue Model
Company Description
NagaCorp Ltd. operates as an investment holding company, with its primary focus on managing and running a comprehensive hotel and casino complex located in the Kingdom of Cambodia. The company's activities are structured into two main divisions: Casi...
How the Company Makes Money
NagaCorp makes money primarily by operating casino gaming activities at its NagaWorld integrated resort in Phnom Penh. Its largest revenue stream comes from gaming, which typically includes (i) mass-market/table and slot play where the casino earns a...
NagaCorp Financial Statement Overview
Summary
Strong post-downturn recovery with accelerating revenue and exceptionally high 2025 profitability (gross margin ~81%, EBIT margin ~71%, net margin ~44%). Balance sheet leverage has improved materially (debt-to-equity down to ~0.08 in 2025), and free cash flow is solid and meaningfully positive, covering ~78% of net income. The main offset is pronounced historical cyclicality/volatility (notably losses and negative FCF in 2021), which elevates risk in a cyclical industry.
Income Statement
84Very PositiveBalance Sheet
79PositiveCash Flow
76Positive| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 681.00M | 710.72M | 528.36M | 501.98M | 435.56M | 213.62M |
| Gross Profit | 496.08M | 577.77M | 456.69M | 421.64M | 375.97M | 143.53M |
| EBITDA | 549.84M | 600.98M | 202.85M | 295.34M | 245.42M | 15.57M |
| Net Income | 305.09M | 310.37M | 109.59M | 177.73M | 107.25M | -147.02M |
Balance Sheet | ||||||
| Total Assets | 2.82B | 2.77B | 2.46B | 2.75B | 2.59B | 2.43B |
| Cash, Cash Equivalents and Short-Term Investments | 416.23M | 372.22M | 129.42M | 368.89M | 178.92M | 124.26M |
| Total Debt | 109.56M | 183.89M | 121.93M | 525.37M | 533.67M | 613.90M |
| Total Liabilities | 319.26M | 367.53M | 304.46M | 726.21M | 740.33M | 777.62M |
| Stockholders Equity | 2.50B | 2.40B | 2.16B | 2.02B | 1.85B | 1.65B |
Cash Flow | ||||||
| Free Cash Flow | 302.73M | 303.23M | 190.68M | 234.25M | 178.33M | -114.30M |
| Operating Cash Flow | 396.02M | 388.55M | 306.62M | 289.12M | 306.54M | 35.95M |
| Investing Cash Flow | -93.52M | -81.01M | -85.79M | -42.91M | -124.43M | -145.24M |
| Financing Cash Flow | -131.28M | -55.83M | -448.82M | -53.83M | -128.83M | -225.73M |
NagaCorp Technical Analysis
Price Trends
Market Momentum
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 2.20 is below the 20-day moving average (MA) of 2.43, below the 50-day MA of 2.91, and below the 200-day MA of 3.59, indicating a bearish trend. The MACD of -0.22 indicates Negative momentum. The RSI at 22.81 is Positive, neither overbought nor oversold. The STOCH value of 12.79 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:3918.
NagaCorp Peers Comparison
Overall Rating
HK:002780Outperform- HK:391873Outperform
HK:228263.5Neutral
HK:112862Neutral
HK:192860Neutral
HK:088044Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| HK:0027 | 80Outperform | HKD 140.33B | 13.09 | 12.77% | 5.30% | 8.39% | 11.34% |
| HK:3918 | 73Outperform | HKD 9.73B | 4.13 | 12.46% | 7.30% | 11.65% | 17.97% |
| HK:2282 | 64Neutral | HKD 34.66B | 7.60 | 129.87% | 6.61% | 11.01% | 6.83% |
| HK:1128 | 62Neutral | HKD 23.80B | 7.88 | -22.18% | 9.92% | 9.38% | 60.07% |
| Sector * | 61Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% |
| HK:1928 | 60Neutral | HKD 86.44B | 12.58 | 65.49% | 9.36% | 8.73% | -3.66% |
| HK:0880 | 44Neutral | HKD 8.06B | -14.88 | -4.07% | ― | -16.41% | -3217.39% |
* Consumer Cyclical Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| HK:3918 | NagaCorp | 2.20 | -2.78 | -55.79% | |
| HK:0880 | SJM Holdings | 1.14 | -1.74 | -60.45% | |
| HK:2282 | Mgm China Holdings(OTC) | 9.12 | -5.27 | -36.62% | |
| HK:0027 | Galaxy Entertainment Group | 32.06 | -4.44 | -12.15% | |
| HK:1928 | Sands China | 10.68 | -7.88 | -42.46% | |
| HK:1128 | Wynn Macau | 4.49 | -1.65 | -26.87% |
NagaCorp Corporate Events
NagaCorp Bolsters Board with New Independent Director
NagaCorp has appointed Mr. Yeap Chee Wan as an Independent Non-executive Director and member of its audit, nomination and remuneration committees, effective 27 October 2026. The move adds seasoned financial oversight to the board at a time when gover...
NagaCorp Updates Board Line-Up and Governance Committees
NagaCorp Ltd., incorporated in the Cayman Islands and listed in Hong Kong under stock code 3918, operates in the gaming and hospitality sector with a focus on integrated resort and casino operations. The company targets regional tourism and entertain...
NagaCorp’s Nine-Month Gaming Revenue Falls on Sharp VIP Slowdown
NagaCorp reported unaudited operational figures for the nine months to 30 September 2026 showing a broad-based decline in gaming metrics, led by a 21.5% drop in gross gaming revenue to US$417.9 million and a 16.7% fall in net gaming revenue. Mass mar...
NagaCorp Shrugs Off VIP Slowdown as Mass Market Strength Bolsters Margins
NagaCorp reported an 8.6% year-on-year decline in gross gaming revenue to US$303.7 million for the six months to 30 June 2026, as a sharp slowdown in the VIP segment offset growth in mass market gaming. Mass market gross gaming revenue rose 2.7% to U...
NagaCorp Declares Interim Cash Dividend for First Half of 2026
NagaCorp Ltd., a Hong Kong-listed company in the gaming and entertainment sector, operates casino and integrated resort businesses and manages its shareholder base through Union Registrars Limited. Its governance is overseen by a board comprising exe...
NagaCorp Sets August Board Meeting to Approve Interim Results and Mull Dividend
NagaCorp Ltd. has scheduled a board meeting for 24 August 2026 to review and approve the interim financial results for the six months ended 30 June 2026. The board will also consider the declaration of an interim dividend, signaling potential returns...
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.
Date of analysis: Oct 06, 2026