Wynn Macau, Limited logo

Wynn Macau, Limited

1128.HK

HKSEConsumer CyclicalGambling, Resorts & Casinos

Latest quote

HK$5.92

+HK$0.015 · +0.25%

Aug 24, 4:08 PM HKT

1128.HK company overview

Regular session · HKT · Market data may be delayed.

Company profile

Company website

Wynn Macau, Limited, a company incorporated in 2009 and based in Macau, operates as a division of WM Cayman Holdings Limited I. This entity, along with its subsidiaries, is responsible for the development, ownership, and management of two major integrated casino resorts in Macau: Wynn Palace and Wynn Macau. The opulent Wynn Palace resort features an expansive casino floor spanning approximately 424,000 square feet, providing round-the-clock gaming with a wide selection of activities, including exclusive private gaming salons and elevated sky casinos. For lodging, it offers a luxurious hotel accommodating 1,706 guest rooms, suites, and villas. Guests can also explore 14 distinct food and beverage venues, roughly 107,000 square feet of premium retail shopping, and 37,000 square feet dedicated to conferences and events. Its comprehensive leisure amenities encompass a unique cable car experience, a health club, spa, salon, and swimming pool, alongside public attractions such as a scenic lake, dynamic floral art installations, and curated fine art collections. In parallel, the Wynn Macau resort presents approximately 252,000 square feet of casino space, ensuring continuous gaming access with various options like private gaming salons, sky casinos, and a dedicated poker pit. Accommodation is provided across two hotel towers, housing 1,010 rooms and suites. The resort also boasts 12 food and beverage outlets and extensive recreational facilities, including two health clubs, spas, a salon, and a swimming pool. Furthermore, Wynn Macau integrates around 59,000 square feet of retail areas and 31,000 square feet of meeting and convention infrastructure.

Industry
Gambling, Resorts & Casinos
Sector
Consumer Cyclical
Headquarters
MO
CEO
Craig Scott Billings
Listed since
Oct 9, 2009
Employees
11,700

Market position

Day range

Current HK$5.92

52-week range

Current HK$5.92

Open
HK$5.92
Previous close
HK$5.905
Volume
3.6M
0.5× average
Average volume
7.12M
Average daily volume
Market cap
31.01B HKD
Beta
0.87
Market reference 1
50-day average
HK$5.447
+8.68% above average
200-day average
HK$5.7924
+2.20% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
69.27B HKD
P/E (TTM)
18.84×
P/B (TTM)
-2.29×
P/S (TTM)
1.07×
EV / EBITDA
9.95×
Earnings yield
5.22%
Free cash flow yield
17.39%
Dividend yield
6.89%

Profitability & efficiency

Gross margin
39.12%
Operating margin
15.52%
Net margin
5.62%
Return on equity
-12.07%
Return on assets
4.02%
Return on invested capital
13.00%

Financial health

Debt / equity
-3.35×
Current ratio
1.23×
Altman Z-score
2.05
Piotroski F-score
6 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends58%-10%-79%-147%Gross margin, FY2021: 20.90%Gross margin, FY2022: -11.99%Gross margin, FY2023: 39.83%Gross margin, FY2024: 41.31%Gross margin, FY2025: 39.12%Operating margin, FY2021: -21.72%Operating margin, FY2022: -86.61%Operating margin, FY2023: 15.26%Operating margin, FY2024: 18.54%Operating margin, FY2025: 15.52%Net margin, FY2021: -44.17%Net margin, FY2022: -130.04%Net margin, FY2023: 4.83%Net margin, FY2024: 11.13%Net margin, FY2025: 5.62%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 20.90%. Gross margin FY2022 -11.99%. Gross margin FY2023 39.83%. Gross margin FY2024 41.31%. Gross margin FY2025 39.12%. Operating margin FY2021 -21.72%. Operating margin FY2022 -86.61%. Operating margin FY2023 15.26%. Operating margin FY2024 18.54%. Operating margin FY2025 15.52%. Net margin FY2021 -44.17%. Net margin FY2022 -130.04%. Net margin FY2023 4.83%. Net margin FY2024 11.13%. Net margin FY2025 5.62%.

Income trends

Revenue

28.99B HKD+0.86%

Operating income

4.5B HKD-15.58%

Net income

1.63B HKD-49.05%
Income trends across reported periods32.62B HKD18.09B HKD3.56B HKD−10.97B HKDRevenue, FY2021: 11.73B HKDRevenue, FY2022: 5.64B HKDRevenue, FY2023: 24.27B HKDRevenue, FY2024: 28.74B HKDRevenue, FY2025: 28.99B HKDOperating income, FY2021: −2.55B HKDOperating income, FY2022: −4.89B HKDOperating income, FY2023: 3.7B HKDOperating income, FY2024: 5.33B HKDOperating income, FY2025: 4.5B HKDNet income, FY2021: −5.18B HKDNet income, FY2022: −7.34B HKDNet income, FY2023: 1.17B HKDNet income, FY2024: 3.2B HKDNet income, FY2025: 1.63B HKDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 11.73B HKD. Revenue FY2022 5.64B HKD. Revenue FY2023 24.27B HKD. Revenue FY2024 28.74B HKD. Revenue FY2025 28.99B HKD. Operating income FY2021 −2.55B HKD. Operating income FY2022 −4.89B HKD. Operating income FY2023 3.7B HKD. Operating income FY2024 5.33B HKD. Operating income FY2025 4.5B HKD. Net income FY2021 −5.18B HKD. Net income FY2022 −7.34B HKD. Net income FY2023 1.17B HKD. Net income FY2024 3.2B HKD. Net income FY2025 1.63B HKD.
Metric (HKD)FY2025FY2024FY2023FY2022FY2021
Revenue28.99B HKD28.74B HKD24.27B HKD5.64B HKD11.73B HKD
Cost of goods sold17.65B HKD16.87B HKD14.6B HKD6.24B HKD9.27B HKD
Gross profit11.34B HKD11.87B HKD9.67B HKD−676.72M HKD2.45B HKD
Selling, general, and administrative928.46M HKD761.96M HKD501.7M HKD517.74M HKD664.16M HKD
Operating expenses6.84B HKD6.54B HKD5.96B HKD4.21B HKD5B HKD
Interest income377.14M HKD568.06M HKD571.27M HKD81.51M HKD19.86M HKD
Interest expense2.91B HKD3.19B HKD3.34B HKD2.56B HKD2.34B HKD
Depreciation and amortization2.35B HKD2.37B HKD2.37B HKD2.31B HKD2.62B HKD
Operating income4.5B HKD5.33B HKD3.7B HKD−4.89B HKD−2.55B HKD
Net income1.63B HKD3.2B HKD1.17B HKD−7.34B HKD−5.18B HKD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
40%
4 beats, 6 misses, 0 met estimates
Average EPS surprise
-62.24%
10 comparable reports
Latest EPS result
0.27
Estimate 0.14 · Beat by 92.86%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates0.550.1-0.36-0.81Q1 '23MissQ3 '23MissQ1 '24BeatQ3 '24No estimateQ1 '25BeatQ3 '25MissQ1 '26BeatQ3 '26Estimate
Q1 2023, reported Mar 30, 2023: actual -0.72, estimate -0.09, surprise -700.00%, Miss. Q3 2023, reported Aug 17, 2023: actual -0.03, estimate 0.08, surprise -137.50%, Miss. Q1 2024, reported Mar 21, 2024: actual 0.2, estimate 0.08, surprise +150.00%, Beat. Q3 2024, reported Aug 15, 2024: actual 0.3, estimate —, surprise —, Comparison unavailable. Q1 2025, reported Mar 27, 2025: actual 0.46, estimate 0.12, surprise +283.33%, Beat. Q3 2025, reported Aug 20, 2025: actual 0.04, estimate 0.09, surprise -55.56%, Miss. Q1 2026, reported Mar 20, 2026: actual 0.27, estimate 0.14, surprise +92.86%, Beat. Q3 2026, reported Aug 27, 2026: actual —, estimate 0.12, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates20.12B13.75B7.38B1.01BQ1 '23MissQ3 '23BeatQ1 '24BeatQ3 '24BeatQ1 '25BeatQ3 '25BeatQ1 '26BeatQ3 '26Estimate
Q1 2023, reported Mar 30, 2023: actual 1.82B HKD, estimate 18.72B HKD, surprise -90.30%, Miss. Q3 2023, reported Aug 17, 2023: actual 10.74B HKD, estimate 6.88B HKD, surprise +56.08%, Beat. Q1 2024, reported Mar 21, 2024: actual 12.84B HKD, estimate 1.19B HKD, surprise +980.73%, Beat. Q3 2024, reported Aug 15, 2024: actual 14.73B HKD, estimate 7.22B HKD, surprise +104.10%, Beat. Q1 2025, reported Mar 27, 2025: actual 13.99B HKD, estimate 7.03B HKD, surprise +98.96%, Beat. Q3 2025, reported Aug 20, 2025: actual 13.63B HKD, estimate 7.58B HKD, surprise +79.80%, Beat. Q1 2026, reported Mar 20, 2026: actual 15.36B HKD, estimate 7.8B HKD, surprise +96.97%, Beat. Q3 2026, reported Aug 27, 2026: actual —, estimate 7.95B HKD, surprise —, Comparison unavailable.

Corporate actions

Annual dividends per share

Cash distributions grouped by calendar year; partial years are marked.

HK$0.37

2025 complete year-41.3% since 2017

2026 partial: HK$0.223

* Partial calendar year in the available dividend history.

Corporate action history

Dividend

Ex-dividend Jun 1, 2026

HK$0.223

Semi-Annual

Record Jun 2, 2026 · Payment Jun 16, 2026

Dividend

Ex-dividend Sep 2, 2025

HK$0.185

Semi-Annual

Record Sep 3, 2025 · Payment Sep 17, 2025

Dividend

Ex-dividend May 27, 2025

HK$0.185

Semi-Annual

Record May 28, 2025 · Payment Jun 11, 2025

Dividend

Ex-dividend Aug 28, 2024

HK$0.075

Semi-Annual

Record Aug 29, 2024 · Payment Sep 12, 2024

Dividend

Ex-dividend Jun 3, 2024

HK$0.075

Semi-Annual

Record Jun 4, 2024 · Payment Jun 19, 2024

Dividend

Ex-dividend Aug 28, 2019

HK$0.45

Quarterly

Record Aug 30, 2019 · Payment Sep 16, 2019

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