Studio City International Holdings Limited

NYSE•MSC

CEO: Mr. Geoffrey Stuart Davis C.F.A.

Sector: Consumer Cyclical

Industry: Gambling, Resorts & Casinos

Listing Date: 2018-10-18

Studio City International Holdings Limited operates an entertainment resort in Macau. It operates Studio City Casino, comprising gaming tables, including tables for VIP rolling chip operations and gaming machines; and resort, which offers various non-gaming attractions, including figure-8 ferris wheel, night club and karaoke venue, live performance arena, and an outdoor and indoor water park, as well as hotel rooms and various food and beverage establishments, and retail space. The company was formerly known as Cyber One Agents Limited and changed its name to Studio City International Holdings Limited in January 2012. The company was founded in 2000 and is based in Central, Hong Kong. Studio City International Holdings Limited is a subsidiary of MCO Cotai Investments Limited.

Contact Information

The Centrium, 38th Floor 60 Wyndham Street, Central, Hong Kong

852-2598-3600

www.studiocity-macau.com

Market Cap

$120.37M

P/E (TTM)

-2.0

22.3

Dividend Yield

52W High

$6.63

52W Low

$2.16

52W Range

Rank52Top 73.5%

2.9

F-Score

Modified Piotroski Analysis

Based on 10-year fundamentals

Weak • 2.9 / 9 points

Scoring Range (0-9)

8-9: Excellent Value

6-7: Strong Fundamentals

4-5: Average Quality

0-3: Weak Performance

Data Period: 2016-2025

Financial Dashboard

Q4 2025 Data

Revenue

$160.28M+0.00%

4-Quarter Trend

EPS

-$0.44+0.00%

4-Quarter Trend

FCF

$0.00+0.00%

4-Quarter Trend

2025 Annual Earnings Highlights

Key Highlights

Operating Income Improvement Operating income reached US$70.0M in 2025, significantly up from US$38.1M in 2024, driven by mass market performance.

Revenue Growth Strong Total operating revenues were US$694.6M in 2025, marking an 8.7% increase compared to US$639.1M reported in 2024.

Adjusted EBITDA Margin Rises Adjusted EBITDA was US$284.5M in 2025, yielding a 41.0% margin, improving from 38.4% margin in the prior year.

Hotel Occupancy High Hotel occupancy rate reached 98% in 2025, reflecting strong inbound tourism and higher average daily rates of US$171.

Risk Factors

Regulatory Macau Exposure Revenues heavily reliant on Macau operations; PRC/Macau government policies could materially and adversely affect results.

Substantial Indebtedness Level Total principal amount of outstanding indebtedness stood at US$2.03B as of December 31, 2025, requiring significant payments.

Gaming Operator Dependency Reliance on Gaming Operator for casino operations; failure to comply risks concession termination or operational disruption.

Tax Exemption Rejected Macau complementary tax exemption application for 2023-2032 was rejected, potentially impacting future financial condition.

Outlook

Focus Mass Market Growth Strategy centers on cultivating growth in premium mass and mass market gaming operations moving forward.

Retain Funds for Debt Service Expect to retain most available funds to repay debt, fund operations, and support future business development.

Technology Investment Planned Plan to invest in technologies and analytical capability to enhance table productivity and improve customer retention efforts.

Future Financing Uncertainties Ability to obtain future financing on satisfactory terms remains uncertain, subject to market conditions and credit ratings.

Peer Comparison

Revenue (TTM)

DBI

$2.89B

-3.9%

BZUN

$1.38B

+5.1%

PLCE

$1.21B

-12.8%

Gross Margin (Latest Quarter)

BZUN

75.2%

+5.0pp

JILL

63.1%

-0.5pp

FOSL

57.4%

-0.4pp

Key Metrics

Symbol	Market Cap	P/E (TTM)	ROE (TTM)	Debt to Assets
DBI	$418.83M	-49.0	-3.0%	62.0%
RCKY	$326.29M	14.6	9.2%	26.0%
FOSL	$291.78M	-3.5	-61.9%	40.9%

Long-Term Trends

Last 4 Quarters

Revenue

Net Income

Operating Cash Flow

4Q Revenue CAGR

-0.3%

Flat Growth

4Q Net Income CAGR

N/M

Profitability Shift

Cash Flow Stability

Cash Flow Needs Attention

Deep Research

Next earnings:Apr 30, 2026

EPS:-$0.28

Revenue:$166.24M

Financials

Earnings Calls

Reports

News

Income Statement

Balance Sheet

Cash Flow Statement

Ratios

% Chg.

Income Statement	LTM

No Data