Melco International Development Limited MDEVY

Consumer DiscretionaryHotels & Entertainment ServicesHong Kong

Last close 1.38 USD on Nov 2, 2026, −54.0% year to date

Quant rating

Quant rating C Rank 173 of 297 in Consumer Discretionary

Growth A 22 of 297
Valuation A 27 of 297
Quality C 171 of 297
Revisions C 149 of 297
Momentum D 272 of 297

Wall Street consensus Hold (3.00)Average target 0.51 USD −62.8%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	5,171	4,657	3,782	1,353	2,006	–
Revenue growth	11.0%	23.1%	179.5%	−32.6%	15.8%	24.5%
EPS (basic, normalized)	0.06	−0.05	−0.11	−0.32	−0.42	–
EPS growth	–	–	–	–	–	–
Gross margin	56.3%	55.3%	55.2%	56.6%	52.4%	55.2%
Net margin	2.6%	−2.2%	−5.9%	−48.4%	−24.4%	−15.6%
ROE	108.5%	−220.7%	−142.0%	−118.2%	−43.2%	−83.1%

Balance sheet, last quarter
Cash & short-term investments (mil)	–
Current ratio	–
Long-term debt (mil)	–
Net debt (mil)	–
Total equity (mil)	–
Net debt / equity	–
Net debt / EBITDA	–

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	5,171	+11.0%	1.6x	1,267	+9.3%	6.5x	0.06	+227.6%	21.6x
2026	5,361	+3.7%	1.5x	1,228	−3.1%	6.7x	0.04	−42.4%	37.6x
2027	5,504	+2.7%	1.5x	1,213	−1.3%	6.8x	0.07	+99.4%	18.8x
2028	5,884	+6.9%	1.4x	1,327	+9.4%	6.2x	0.08	+8.8%	17.3x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	5,361	−0.9%	−1.8%	−2.1%	0.04	0.0%	−21.7%	−26.4%
2027	5,504	−2.8%	−3.8%	−3.8%	0.07	0.0%	−18.8%	−5.1%
2028	5,884	0.0%	−0.4%	–	0.08	0.0%	−10.9%	–

Earnings surprises

Reported results versus consensus, last 10 fiscal quarters
	FQ-9	FQ-8	FQ-7	FQ-6	FQ-5	FQ-4	FQ-3	FQ-2	FQ-1	FQ0
Sales reported (mil)	–	–	–	–	–	–	–	–	–	–
Sales mean (mil)	–	–	–	–	1,520	1,500	1,546	1,545	–	–
Surprise	–	–	–	–	–	–	–	–	–	–
EPS reported	–	–	–	–	–	–	–	–	–	–
EPS mean	–	–	–	–	–	–	–	–	–	–
Surprise	–	–	–	–	–	–	–	–	–	–

FQ0 is the most recent reported quarter, FQ-1 the one before, and so on.

Peer comparison Hotels & Entertainment Services

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
MDEVY Melco International Development Limited	673M	–	2.6%	2.68x	37.6x	18.8x	6.7x	6.8x
CNNE Cannae Holdings Inc	694M	0.43x	−98.0%	0.79x	−40.3x	−12.4x	−21.0x	−7.8x
BALY Bally's Corporation	682M	11.80x	−26.4%	1.03x	−1.6x	−2.5x	9.6x	8.6x
HDL Super Hi International Holding Ltd.	669M	−0.20x	4.3%	1.69x	15.9x	11.5x	4.4x	3.5x
DDI DoubleDown Interactive Co Ltd	668M	−3.84x	28.5%	0.70x	5.2x	5.5x	1.0x	1.0x
PZZA Papa John's International Inc	622M	3.72x	1.4%	−1.37x	16.1x	14.3x	7.5x	7.2x
Mean		2.38x	−14.6%	0.92x	5.5x	5.9x	1.4x	3.2x
Median		0.43x	2.0%	0.91x	10.6x	8.5x	5.5x	5.1x

Technical analysis

1M−42.5%
3M−35.5%
1Y−54.0%
3Y−17.3%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Melco International Development Limited, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	5,171	4,657	3,782	1,353	2,006	1,732
Cost of revenue	2,260	2,084	1,696	587	954	838
Gross profit	2,910	2,573	2,086	766	1,052	894
Selling, general & administrative expenses	1,329	1,214	1,020	777	860	991
Research & development	–	–	–	–	–	–
Depreciation/amortization	568	577	569	587	697	736
Interest expense (income), operating	2.9	0	−0.1	−0.1	−61.9	143
Unusual expense (income)	−30.8	141	149	80.4	17.7	40.0
Other operating expenses	328	308	260	188	170	204
Operating income	713	334	87.4	−867	−631	−1,221
Net interest income (expense)	−480	−517	−497	−383	−352	−350
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−29.8	−27.6	−25.7	−28.9	−30.1	−21.9
Net income before taxes	203	−211	−435	−1,278	−1,013	−1,592
Provision for taxes	5.1	6.3	12.6	0.7	5.6	4.2
Minority interest	−61.6	116	224	624	530	779
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	136	−101	−223	−655	−489	−818
Extraordinary items	–	–	–	–	–	–
Net income	136	−101	−223	−655	−489	−818
EBIT, normalized	685	475	237	−786	−676	−1,037
EBITDA, normalized	1,253	1,051	806	−199	21.9	−301
Basic EPS, normalized	0.06	−0.05	−0.11	−0.32	−0.42	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Melco International Development Limited, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	1,043	1,162	1,379	1,836	1,726	1,788
Receivables	151	171	128	56.0	82.5	164
Total inventory	36.9	32.4	29.4	26.4	29.6	37.3
Prepaid expenses	48.0	71.3	77.5	128	85.1	50.0
Other current assets	25.9	15.7	16.5	169	28.7	5.5
Total current assets	1,305	1,453	1,630	2,216	1,952	2,045
Property, plant & equipment	5,949	6,076	6,419	6,777	6,955	6,780
Goodwill	681	682	679	679	680	684
Intangibles	2,438	2,453	2,479	2,218	2,298	2,458
Long-term investments	7.2	6.8	23.1	27.1	29.7	62.8
Note receivable	10.5	0.2	0.3	–	0.4	1.3
Other long-term assets	236	240	220	516	169	292
Total assets	10,627	10,911	11,450	12,433	12,083	12,323
Liabilities
Accounts payable	25.9	24.8	11.8	6.7	6.0	9.5
Payable/accrued	–	–	–	–	–	–
Accrued expenses	586	587	549	368	371	372
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	56.3	1,276	55.3	102	670	659
Other current liabilities	528	513	502	456	587	643
Total current liabilities	1,196	2,401	1,118	932	1,633	1,684
Long-term debt	7,583	6,849	8,381	9,447	7,230	6,326
Minority interest	1,003	1,051	1,243	1,485	2,002	2,582
Other liabilities	600	604	624	340	337	343
Total liabilities	10,382	10,905	11,365	12,203	11,202	10,935
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	832	734	730	730	731	734
Additional paid-in capital	–	–	–	–	–	–
Retained earnings (accumulated deficit)	−563	−690	−601	−441	194	653
Treasury stock	–	–	–	–	–	–
Other equity	−24.1	−38.0	−44.5	−59.6	−44.9	1.3
Total equity	245	5.9	85.2	229	880	1,389
Total liabilities & shareholders' equity	10,627	10,911	11,450	12,433	12,083	12,323

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Melco International Development Limited, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	203	−211	−435	−1,278	−1,013	−1,592
Depreciation, depletion & amortization	568	577	569	587	697	736
Deferred taxes	–	–	–	–	–	–
Non-cash items	539	711	716	561	421	767
Changes in working capital	6.2	47.0	239	−134	−36.0	−592
Cash from operations	1,317	1,124	1,090	−264	69.5	−682
Investing activities
Capital expenditures	−343	−304	−241	−553	−650	−458
Other investing cash flows	9.3	18.3	46.2	26.8	112	411
Cash from investing	−333	−285	−195	−527	−539	−47.2
Financing activities
Financing cash flow items	−498	−548	−167	−933	−406	−327
Cash dividends paid	–	–	–	0	0	−5.9
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−607	−494	−1,186	1,858	819	1,378
Cash from financing	−1,105	−1,042	−1,353	925	413	1,046
Foreign exchange effects	5.0	−19.3	2.9	−23.5	9.1	20.0
Net change in cash	−117	−224	−455	111	−47.1	336
Free cash flow	974	820	849	−817	−581	−1,140

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.