Sands China (1928.HK)
Consumer · HKEX · Hong Kong
Fundamentals
Valuation and ratings
Sands China trades at HK$13.14, which is 44% above the HK$7.40 our discounted cash flow model puts on the business. On that measure it screens as expensive, which is not the same as saying it will fall.
Our moat model scores it 75 out of 100, which is a wide moat. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 15.3 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
About Sands China
Sands China Ltd. develops, owns, and operates integrated resorts and casinos in Macao. The company owns and operates The Venetian Macao, The Londoner Macao, The Parisian Macao resort, The Plaza Macao, and The Sands Macao casino; the Cotai Expo, a convention and exhibition hall; and The Venetian and The Londoner Arena, an entertainment venues, as well as Cotai Water Jet ferry for leisure and business travelers. It offers ferry transportation and leasing services, and pontoon leasing; gaming and other related activities; travel and tourism agency services; security services; and human resources administration services, as well as outsourcing services, including information technology, accounting, hotel management, and marketing. The company was incorporated in 2009 and is headquartered in Macau. Sands China Ltd. operates as a subsidiary of Las Vegas Sands Corp.
1928.HK passes 5 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Common questions
Is Sands China (1928.HK) undervalued?
Against our discounted cash flow estimate of HK$7.40, 1928.HK at HK$13.14 is 44% above fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
What is 1928.HK's P/E ratio?
1928.HK trades at 15.3 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
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Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.