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MSC logoStudio City International Holdings Limited(MSC)Earnings, Financials & Key Ratios

MSC•NYSE
$2.40
$115M mkt cap·Price updated May 6, 2026
SectorConsumer CyclicalIndustryCasinos & GamingSub-IndustryIntegrated Destination Casino Resorts
AboutStudio City International Holdings Limited operates a gaming, retail, and entertainment resort in Cotai, Macau. The company operates Studio City Casino with 250 mass market gaming tables; approximately 947 gaming machines; and 45 VIP rolling chip tables. Its resort provides various non-gaming facilities, including approximately 1,600 luxury hotel rooms; food and beverage outlets; figure-8 Ferris wheel; a night club and karaoke; a 5,000-seat live performance arena; and approximately 27,000 square meters of complementary 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 operates as a subsidiary of MCO Cotai Investments Limited.Show more
  • Revenue$695M+8.7%
  • EBITDA$283M+16.2%
  • Net Income-$59M+39.2%
  • EPS (Diluted)-1.24+38.0%
  • Gross Margin36.85%-43.3%
  • EBITDA Margin40.68%+6.9%
  • Operating Margin10.16%+70.2%
  • Net Margin-8.46%+44.1%
  • ROE-9.63%+31.5%
  • ROIC2.03%+96.9%
  • Debt/Equity3.57+6.1%
  • Interest Coverage0.55+109.5%
Technical→

MSC Key Insights

Studio City International Holdings Limited (MSC) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Strong 5Y profit CAGR of 28.8%
  • ✓Strong 5Y sales CAGR of 69.8%
  • ✓Trading at only 0.2x book value

✗Weaknesses

  • ✗High debt to equity ratio of 3.6x
  • ✗Weak momentum: RS Rating 9 (bottom 9%)
  • ✗Trading more than 30% below 52-week high
  • ✗Low asset turnover indicates capital-intensive operations

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

MSC Price & Volume

Studio City International Holdings Limited (MSC) stock price & volume — 10-year historical chart

Loading chart...

MSC Growth Metrics

Studio City International Holdings Limited (MSC) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years25.91%
5 Years69.8%
3 Years291.8%
TTM8.67%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM40.1%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM37.49%

Return on Capital

10 Years-0.87%
5 Years-2.42%
3 Years1%
Last Year2.6%

MSC Recent Earnings

Studio City International Holdings Limited (MSC) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 1/12 qtrs (100%)
Q2 2026Latest
Apr 30, 2026
EPS
$0.01
Est $0.28
+103.6%
Revenue
—
Est $166M
Q1 2026
Feb 12, 2026
EPS
$0.11
Revenue
$153M
Q4 2025
Nov 6, 2025
EPS
$0.10
Revenue
$183M
Q3 2025
Jul 31, 2025
EPS
$0.02
Revenue
$190M
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestApr 30, 2026
$0.01vs $0.28+103.6%
—vs $166M
Q1 2026Feb 12, 2026
$0.11
$153M
Q4 2025Nov 6, 2025
$0.10
$183M
Q3 2025Jul 31, 2025
$0.02
$190M
Based on last 12 quarters of dataView full earnings history →

MSC Peer Comparison

Studio City International Holdings Limited (MSC) competitors in Integrated Destination Casino Resorts — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
MLCO logoMLCOMelco Resorts & Entertainment LimitedDirect Competitor2.22B5.4612.1311.32%3.58%
LVS logoLVSLas Vegas Sands Corp.Direct Competitor35.32B53.2222.6515.22%13.41%95.8%8.34
WYNN logoWYNNWynn Resorts, LimitedDirect Competitor11.22B107.5734.260.14%4.59%
MGM logoMGMMGM Resorts InternationalDirect Competitor9.78B38.2150.281.72%1.03%5.3%17.14
CZR logoCZRCaesars Entertainment, Inc.Product Competitor5.65B27.76-11.472.14%-4.19%-12.62%7.15
BYD logoBYDBoyd Gaming CorporationProduct Competitor6.41B85.153.774.12%45.02%91.81%1.25
PENN logoPENNPENN Entertainment, Inc.Product Competitor2.24B16.75-2.875.82%-12.11%-34.66%4.58
RRR logoRRRRed Rock Resorts, Inc.Product Competitor3.13B52.9316.963.74%9.35%56.57%0.18

Compare MSC vs Peers

Studio City International Holdings Limited (MSC) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs MLCO

Most directly comparable listed peer for MSC.

Scale Benchmark

vs LVS

Larger-name benchmark to compare MSC against a more recognizable public peer.

Peer Set

Compare Top 5

vs MLCO, LVS, WYNN, MGM

MSC Income Statement

Studio City International Holdings Limited (MSC) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Sales/Revenue539.81M571.21M626.73M49.21M106.87M11.55M445.54M639.14M694.57M
Revenue Growth %27.16%5.82%9.72%-92.15%117.18%-89.19%3758.14%43.45%8.67%
Cost of Goods Sold130.25M128.27M145.3M79.59M82.25M78.76M172.53M223.86M438.65M
COGS % of Revenue24.13%22.46%23.18%161.75%76.96%682.02%38.72%35.02%63.15%
Gross Profit
409.57M▲ 0%
442.94M▲ 8.1%
481.44M▲ 8.7%
-30.39M▼ 106.3%
24.62M▲ 181.0%
-67.21M▼ 373.0%
273.01M▲ 506.2%
415.29M▲ 52.1%
255.92M▼ 38.4%
Gross Margin %75.87%77.54%76.82%-61.75%23.04%-582.02%61.28%64.98%36.85%
Gross Profit Growth %58.72%8.15%8.69%-106.31%181.03%-372.98%506.19%52.11%-38.38%
Operating Expenses329.12M305.08M303.44M249.54M216.19M210M302.05M377.14M185.37M
OpEx % of Revenue60.97%53.41%48.42%507.11%202.3%1818.53%67.79%59.01%26.69%
Selling, General & Admin152.68M132.64M128.93M89.01M87.58M79.78M115.2M171.27M183.39M
SG&A % of Revenue28.28%23.22%20.57%180.88%81.95%690.9%25.86%26.8%26.4%
Research & Development000000000
R&D % of Revenue---------
Other Operating Expenses176.44M172.44M174.51M160.53M128.62M130.22M186.85M205.87M1.99M
Operating Income
80.45M▲ 0%
137.86M▲ 71.4%
178M▲ 29.1%
-279.93M▼ 257.3%
-191.57M▲ 31.6%
-277.22M▼ 44.7%
-29.04M▲ 89.5%
38.15M▲ 231.4%
70.55M▲ 84.9%
Operating Margin %14.9%24.14%28.4%-568.87%-179.26%-2400.55%-6.52%5.97%10.16%
Operating Income Growth %246.9%71.36%29.11%-257.27%31.56%-44.71%89.52%231.35%84.93%
EBITDA256.78M305.75M349.94M-119.59M-63.94M-150.26M140.35M243.21M282.56M
EBITDA Margin %47.57%53.53%55.84%-243.04%-59.83%-1301.18%31.5%38.05%40.68%
EBITDA Growth %119.29%19.07%14.45%-134.18%46.54%-135.01%193.41%73.28%16.18%
D&A (Non-Cash Add-back)176.33M167.89M171.94M160.33M127.63M126.96M169.4M205.06M212.02M
EBIT83.24M140.31M176.32M-301.3M-211.49M-268.57M-16.6M35.12M70.55M
Net Interest Income-158.17M-157.35M-126.85M-103.52M-87.91M-85.93M-118.89M-129.53M-127.19M
Interest Income2.17M3.58M5.86M1.28M3.06M6.43M10.68M4.06M914K
Interest Expense159.92M160.51M132.29M104.8M90.97M92.36M129.57M133.59M128.1M
Other Income/Expense-157.13M-158.06M-133.97M-126.17M-110.89M-83.71M-117.12M-136.63M-127.24M
Pretax Income
-76.68M▲ 0%
-20.2M▲ 73.7%
44.03M▲ 318.0%
-406.1M▼ 1022.3%
-302.46M▲ 25.5%
-360.93M▼ 19.3%
-146.16M▲ 59.5%
-98.48M▲ 32.6%
-56.69M▲ 42.4%
Pretax Margin %-14.2%-3.54%7.03%-825.28%-283.02%-3125.43%-32.81%-15.41%-8.16%
Income Tax-239K544K402K-1.01M-457K382K-81K7.35M7.61M
Effective Tax Rate %0.31%-2.69%0.91%0.25%0.15%-0.11%0.06%-7.47%-13.42%
Net Income
-76.44M▲ 0%
-21.6M▲ 71.7%
33.56M▲ 255.4%
-321.63M▼ 1058.2%
-252.56M▲ 21.5%
-326.45M▼ 29.3%
-133.52M▲ 59.1%
-96.73M▲ 27.6%
-58.77M▲ 39.2%
Net Margin %-14.16%-3.78%5.36%-653.61%-236.32%-2826.91%-29.97%-15.13%-8.46%
Net Income Growth %68.52%71.74%255.4%-1058.25%21.48%-29.26%59.1%27.56%39.25%
Net Income (Continuing)-76.44M-20.75M43.63M-405.09M-302M-361.31M-146.08M-105.83M-64.3M
Discontinued Operations000000000
Minority Interest0252.93M0000055.78M49.49M
EPS (Diluted)
-1.03▲ 0%
-0.43▲ 58.3%
0.56▲ 230.2%
-17.32▼ 3192.9%
-10.92▲ 37.0%
-7.36▲ 32.6%
-2.76▲ 62.5%
-2.00▲ 27.5%
-1.24▲ 38.0%
EPS Growth %68.5%58.25%230.23%-3192.86%36.95%32.6%62.5%27.54%38%
EPS (Basic)-1.03-0.430.56-17.32-10.92-7.36-2.76-2.00-1.24
Diluted Shares Outstanding74.27M47.88M60.45M23.15M23.15M48.94M48.15M48.15M48.15M
Basic Shares Outstanding74.27M47.88M60.45M23.15M23.15M44.41M48.15M48.15M48.15M
Dividend Payout Ratio---------

MSC Balance Sheet

Studio City International Holdings Limited (MSC) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Total Current Assets460.93M459.04M414.44M607.82M563.69M553.85M316.05M166.37M131.49M
Cash & Short-Term Investments358.28M345.85M299.37M575.22M499.29M509.52M228.04M127.63M109.4M
Cash Only348.4M345.85M299.37M575.22M499.29M509.52M228.04M127.63M109.4M
Short-Term Investments9.88M00000000
Accounts Receivable40.17M44.05M63.39M10.83M15.94M484K43.25M2.29M2.62M
Days Sales Outstanding27.1628.1536.9280.3254.4615.335.431.31.38
Inventory10.14M9.9M9.76M9.3M5.83M5.12M5.76M7.31M8.73M
Days Inventory Outstanding28.4228.1824.5342.6325.8623.7312.1911.917.26
Other Current Assets34.4M31.58M27.73M13K0039M010.74M
Total Non-Current Assets2.47B2.34B2.3B2.44B2.76B3.04B2.92B2.82B2.66B
Property, Plant & Equipment2.28B2.18B2.14B2.23B2.59B2.88B2.79B2.66B2.5B
Fixed Asset Turnover0.24x0.26x0.29x0.02x0.04x0.00x0.16x0.24x0.28x
Goodwill0000000099.07M
Intangible Assets125.67M121.54M118.89M120.11M114.89M110.02M105.31M102.63M0
Long-Term Investments130K129K00000130K130K
Other Non-Current Assets60.85M45.9M43M86.76M48.1M46.81M26.99M52.5M69.14M
Total Assets
2.93B▲ 0%
2.8B▼ 4.3%
2.71B▼ 3.2%
3.04B▲ 12.2%
3.32B▲ 9.0%
3.59B▲ 8.3%
3.24B▼ 9.9%
2.99B▼ 7.8%
2.8B▼ 6.3%
Asset Turnover0.18x0.20x0.23x0.02x0.03x0.00x0.14x0.21x0.25x
Asset Growth %-3.12%-4.28%-3.22%12.23%9.04%8.27%-9.93%-7.76%-6.33%
Total Current Liabilities178.07M438.97M100.17M162.15M254.73M247.39M156.78M180.76M180.04M
Accounts Payable2.72M6.42M3.34M206K211K501K2.45M3.29M6.4M
Days Payables Outstanding7.6318.278.380.940.942.325.195.365.33
Short-Term Debt0347.74M0000021.6M0
Deferred Revenue (Current)4.41M4.38M3.95M2.4M2.26M1.79M4.43M00
Other Current Liabilities103.5M000007.51M49.08M158.38M
Current Ratio2.59x1.05x4.14x3.75x2.21x2.24x2.02x0.92x0.73x
Quick Ratio2.53x1.02x4.04x3.69x2.19x2.22x1.98x0.88x0.68x
Cash Conversion Cycle47.9638.0653.06122.0179.3836.7142.437.863.31
Total Non-Current Liabilities2.01B1.27B1.45B1.61B2.12B2.47B2.35B2.16B2.04B
Long-Term Debt2B1.26B1.44B1.58B2.09B2.43B2.34B2.14B2.04B
Capital Lease Obligations0013.72M17.14M14.8M13.5M12.25M12.23M12.1M
Deferred Tax Liabilities588K1.04M1.45M448K0382K309K77K60K
Other Non-Current Liabilities9.51M4.02M3.15M11.78M17.77M21.63M3.21M4.12M-5.8M
Total Liabilities2.19B1.71B1.55B1.78B2.37B2.72B2.51B2.34B2.22B
Total Debt2B1.61B1.45B1.6B2.1B2.45B2.35B2.18B2.05B
Net Debt1.65B1.26B1.15B1.03B1.6B1.94B2.12B2.05B1.94B
Debt / Equity2.70x1.19x1.25x1.26x2.23x2.80x3.22x3.37x3.57x
Debt / EBITDA7.79x5.26x4.14x---16.73x8.95x7.25x
Net Debt / EBITDA6.43x4.13x3.29x---15.11x8.43x6.86x
Interest Coverage0.52x0.87x1.33x-2.88x-2.32x-2.91x-0.13x0.26x0.55x
Total Equity
740.04M▲ 0%
1.35B▲ 82.3%
1.16B▼ 14.1%
1.27B▲ 9.4%
944.18M▼ 25.5%
876.14M▼ 7.2%
728.98M▼ 16.8%
646.52M▼ 11.3%
573.38M▼ 11.3%
Equity Growth %-9.36%82.33%-14.13%9.41%-25.52%-7.21%-16.8%-11.31%-11.31%
Book Value per Share9.9628.1819.1754.7740.7917.9015.1413.4311.91
Total Shareholders' Equity740.04M1.1B1.16B1.27B944.18M876.14M728.98M590.74M523.89M
Common Stock18K31K31K44K44K84K84K84K84K
Retained Earnings-773.17M-798.1M-764.53M-1.09B-1.34B-1.67B-1.8B-1.9B-1.95B
Treasury Stock000000000
Accumulated OCI488K-14.06M269K11.88M-6.14M-11.67M-12.66M8.7M618K
Minority Interest0252.93M0000055.78M49.49M

MSC Cash Flow Statement

Studio City International Holdings Limited (MSC) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash from Operations68.31M139.52M228.5M-181.63M-136.84M-178.78M-18.89M189.9M0
Operating CF Margin %12.65%24.42%36.46%-369.1%-128.05%-1548.1%-4.24%29.71%-
Operating CF Growth %368.57%104.23%63.78%-179.48%24.66%-30.64%89.43%1105.08%-100%
Net Income-76.44M-20.75M43.63M-406.53M-302M-361.31M-133.52M-105.83M-58.77M
Depreciation & Amortization176.33M167.89M171.94M160.56M127.63M126.96M169.4M205.06M0
Stock-Based Compensation000791K438K361K000
Deferred Taxes000-791K20.97M-361K000
Other Non-Cash Items28.62M11.69M19.25M28.02M10.48M2.02M-11.36M5.37M58.77M
Working Capital Changes-60.2M-19.32M-6.32M36.32M5.64M53.56M-43.41M85.3M0
Change in Receivables442K241K324K1.25M-91K-16K-42.68M41.14M0
Change in Inventory-7.22M-9.39M3.62M2.13M-1.79M4.07M-339K8.43M0
Change in Payables5.82M-4.81M9.52M11.61M-6.02M10.88M-20.72M13.63M0
Cash from Investing-55.34M-147.51M-90.92M-195.51M-407.24M-453.39M-161.54M-108.46M0
Capital Expenditures-43.8M-153.25M-78.59M-188.54M-404.48M-452.13M-156.82M-86.76M0
CapEx % of Revenue8.11%26.83%12.54%383.14%378.49%3915.19%35.2%13.57%-
Acquisitions-2.84M-13.36M-13.71M2.64M-2.42M9K0-31.3M0
Investments---------
Other Investing-2.73M9.23M1.38M-6.98M-336K-1.27M-4.72M9.6M0
Cash from Financing-1.28M5.15M-189.98M623.89M471.51M643.11M-100.9M-183.26M0
Debt Issued (Net)0-400M-184.91M150M505.25M350M-100.37M-175.38M0
Equity Issued (Net)0405.15M-5.06M499.22M-445K299.16M000
Dividends Paid000000000
Share Repurchases00-5.06M000000
Other Financing-1.28M00-25.33M-33.3M-6.05M-530K-7.88M0
Net Change in Cash
11.68M▲ 0%
-5.36M▼ 145.9%
-50.33M▼ 838.3%
248.27M▲ 593.3%
-75.94M▼ 130.6%
10.23M▲ 113.5%
-281.48M▼ 2850.5%
-100.41M▲ 64.3%
-127.76M▼ 27.2%
Free Cash Flow
24.52M▲ 0%
-13.73M▼ 156.0%
149.92M▲ 1192.0%
-370.16M▼ 346.9%
-541.32M▼ 46.2%
-630.9M▼ 16.5%
-175.72M▲ 72.1%
103.14M▲ 158.7%
0▼ 100.0%
FCF Margin %4.54%-2.4%23.92%-752.24%-506.53%-5463.29%-39.44%16.14%-
FCF Growth %125.23%-156%1191.97%-346.91%-46.24%-16.55%72.15%158.7%-100%
FCF per Share0.33-0.292.48-15.99-23.39-12.89-3.652.14-
FCF Conversion (FCF/Net Income)-0.89x-6.46x6.81x0.56x0.54x0.55x0.14x-1.96x-
Interest Paid000000000
Taxes Paid000000000

MSC Key Ratios

Studio City International Holdings Limited (MSC) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric2016201720182019202020212022202320242025
Return on Equity (ROE)-25.89%-9.82%-2.07%2.68%-26.51%-22.84%-35.87%-16.64%-14.06%-9.63%
Return on Invested Capital (ROIC)-1.55%2.48%4.13%5.42%-9.12%-5.93%-7.75%-0.77%1.03%2.03%
Gross Margin60.78%75.87%77.54%76.82%-61.75%23.04%-582.02%61.28%64.98%36.85%
Net Margin-57.19%-14.16%-3.78%5.36%-653.61%-236.32%-2826.91%-29.97%-15.13%-8.46%
Debt / Equity2.44x2.70x1.19x1.25x1.26x2.23x2.80x3.22x3.37x3.57x
Interest Coverage-0.52x0.52x0.87x1.33x-2.88x-2.32x-2.91x-0.13x0.26x0.55x
FCF Conversion-0.06x-0.89x-6.46x6.81x0.56x0.54x0.55x0.14x-1.96x-
Revenue Growth512.3%27.16%5.82%9.72%-92.15%117.18%-89.19%3758.14%43.45%8.67%

MSC Frequently Asked Questions

Studio City International Holdings Limited (MSC) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Studio City International Holdings Limited (MSC) reported $694.6M in revenue for fiscal year 2025. This represents a 902% increase from $69.3M in 2015.

Studio City International Holdings Limited (MSC) grew revenue by 8.7% over the past year. This is steady growth.

Studio City International Holdings Limited (MSC) reported a net loss of $58.8M for fiscal year 2025.

Dividend & Returns

Studio City International Holdings Limited (MSC) has a return on equity (ROE) of -9.6%. Negative ROE indicates the company is unprofitable.

Explore More MSC

Studio City International Holdings Limited (MSC) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

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Financial Ratios

30 years of market, efficiency and balance-sheet ratios

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Valuation

DCF intrinsic value, peer multiples & estimates

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