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S

Sands China 1928.HK · HKD

Consumer Discretionary · HKEX · 🇭🇰 Hong Kong

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11.19

+1.45%

Close of 9 Nov 2026, in HKD

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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.

At a glance

Figures in USD, from our data supplier.

FY2025

Revenue

$7.44bn

FY2016FY2025

Net income

$896.0m

FY2016FY2025

Free cash flow

$1.56bn

FY2016FY2025

Shareholders' equity

$1.40bn

FY2016FY2025

Income statement

Fiscal years

FY2025FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue$7.44bn$6.53bn$1.60bn$2.87bn$1.69bn$8.81bn$8.66bn$7.59bn$6.54bn
Gross profit$5.91bn$5.24bn$487.0m$1.73bn$549.0m$7.33bn$7.24bn$6.21bn$5.28bn
Operating income$1.56bn$1.71bn−$1.16bn−$537.0m−$1.22bn$2.40bn$2.28bn$1.80bn$1.36bn
Net income$896.0m$692.0m−$1.58bn−$1.05bn−$1.52bn$2.03bn$1.88bn$1.60bn$1.22bn
Diluted earnings per share0.110.09-0.20-0.13-0.190.250.230.200.15

Balance sheet

At each fiscal year end

FY2025FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Total assets$10.57bn$10.26bn$10.56bn$10.09bn$10.55bn$12.10bn$12.06bn$10.65bn$11.18bn
Cash and short-term investments$1.50bn$1.36bn$790.0m$678.0m$861.0m$2.51bn$2.68bn$1.24bn$1.28bn
Total liabilities$9.17bn$10.26bn$11.26bn$9.21bn$8.62bn$7.65bn$7.65bn$6.11bn$6.18bn
Debt$7.10bn$8.33bn$10.20bn$7.95bn$7.04bn$5.59bn$5.55bn$4.41bn$4.37bn
Shareholders' equity$1.40bn−$4.0m−$700.0m$888.0m$1.93bn$4.45bn$4.41bn$4.54bn$5.01bn
Shares outstanding8,093m8,093m8,093m8,093m8,090m8,092m8,085m8,024m8,056m

Cash flow

Fiscal years

FY2025FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash from operations$2.10bn$2.29bn−$473.0m$88.0m−$816.0m$2.81bn$3.05bn$2.63bn$2.35bn
Capital spending−$543.0m−$201.0m−$203.0m−$564.0m−$1.02bn−$720.0m−$492.0m−$423.0m−$1.03bn
Free cash flow$1.56bn$2.09bn−$676.0m−$476.0m−$1.83bn$2.09bn$2.56bn$2.20bn$1.31bn
Dividends paid−$518.0m———−$1.03bn−$2.05bn−$2.05bn−$2.07bn−$2.07bn

Latest quarters

By quarter end

Jun 2026Dec 2025Jun 2025Dec 2024Jun 2024Dec 2023Jun 2023Dec 2022
Revenue$2.32bn$3.95bn$3.49bn$449.8m$452.6m$463.9m$2.90bn$690.0m
Gross profit$1.14bn$3.11bn$2.80bn$162.5m$370.2m$374.9m$2.29bn$111.0m
Operating income$556.7m$646.0m$585.0m$86.4m$87.7m$101.0m$433.0m−$591.0m
Net income$397.0m$483.0m$413.0m$64.2m$69.0m$65.9m$175.0m−$822.0m
Diluted earnings per share0.050.060.050.010.010.010.02-0.10
Cash from operations$751.0m$1.17bn$937.0m$131.0m$132.0m$1.25bn$1.05bn−$192.0m
Capital spending−$162.0m−$221.0m−$322.0m−$83.0m−$26.0m−$135.0m−$66.0m−$71.0m
Free cash flow$589.0m$947.0m$615.0m$48.0m$106.0m$1.11bn$980.0m−$263.0m
Total assets$9.63bn$10.57bn$10.08bn$1.42bn$10.55bn$10.26bn$10.27bn$10.56bn
Cash and short-term investments$850.9m$1.50bn$985.0m$251.1m$1.79bn$1.36bn$1.23bn$790.0m
Debt$6.39bn$7.10bn$7.09bn$1.04bn$8.02bn$8.33bn$9.15bn$10.18bn
Shareholders' equity$1.29bn$1.40bn$1.12bn$131.4m$527.0m−$4.0m−$526.0m−$700.0m

Financial ratios

Data as of 27 Sept 2026

FY2025FY2024FY2023FY2022FY2021FY2020
Gross margin79.4%59.0%80.1%30.3%60.1%32.5%
Operating margin21.0%19.3%26.2%-72.5%-18.7%-72.1%
Net margin12.0%14.8%10.6%-98.6%-36.5%-90.3%
Return on equity64.0%101.4%-17300.0%226.0%-118.0%-79.0%
Return on assets8.5%9.4%6.7%-15.0%-10.4%-14.4%
Free cash flow yield2.7%3.0%2.6%-0.3%0.7%0.2%
Revenue growth5.1%8.4%307.1%-44.2%70.4%-80.8%
Earnings growth-14.3%51.0%-143.7%51.0%-31.2%-174.9%
Current ratio0.85x0.76x1.23x0.65x0.82x0.77x
Debt to equity4.96x7.78x-2046.50x-14.38x8.97x3.66x
Equity ratio13.3%9.2%-0.0%-6.6%8.8%18.3%
Interest coverage4.82x3.58x3.44x-2.83x-1.59x-4.89x
Buybacks as a share of market value0.0%0.0%-0.0%0.0%-0.0%0.0%

Growth per year

Compound annual rate

3 years5 years10 years
Revenue66.8%34.6%1.1%
Operating income——0.1%
Net income——-4.8%

Average margins

Over each period

1 year3 years5 years10 years
Gross margin77.2%73.8%68.6%77.4%
Operating margin20.8%13.8%2.5%16.7%
Net margin12.3%0.8%-11.6%9.7%

Valuation history

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Price to earnings22.8163.534.2-17.0-18.0-23.321.318.925.828.6
Price to sales2.724.13.616.86.621.14.94.15.55.3

Dividends and splits

Per share, in the currency the company pays

Paid for 1 years. Last went ex-dividend on 28 Aug 2025.

FY2025FY2020FY2019FY2018FY2017FY2016FY2015FY2014
Paid in the year0.500.010.020.020.020.020.020.016

Sources and methodology

Data on this tab
Our data supplier
Chart on the Overview
TradingView

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