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Operates casino resorts in Macau, the Philippines and Cyprus under the City of Dreams brand, controlled by the Ho family.
Operates casino resorts in Macau, the Philippines and Cyprus under the City of Dreams brand, controlled by the Ho family.
Earns from gambling losses kept by the house, plus rooms, food and entertainment, so revenue follows how much visitors wager. In Macau it holds one of the six licences awarded in 2022 and pays a gaming tax to the government. Melco International Development, the Ho family's Hong Kong-listed company, holds the controlling stake.
Moat: narrow (regulatory licence, scale, brand). One of six licensed Macau concessionaires; licenses are scarce and government-controlled.
Headquarters: Macau SAR, China · Founded: 2004 · Employees: 22,961
Size Melco Resorts & Entertainment Ltd. Sponsored ADR (MLCO) is a United States Consumer Discretionary company (Hotels/Resorts/Cruise lines) with a market value of $1.79B, the 1869th largest of 3,117 United States companies the cockpit tracks. Shares closed at $4.51 on 6 Nov 2026.
Performance Over six months the shares fell 16.0%, against -3.6% for the median peer and -1.1% for the United States market (cap-weighted) — 5th lowest of 21 in its peer set.
Growth Revenue grew 6.0% over the last twelve months (peer median +6.1%); the operating margin is 12.2% (peer median 14.9%).
Valuation It trades at 7.5× forward earnings against a peer median of 17.1× (2nd cheapest of 17).
Price implies For today's price to make sense, revenue must grow about -6% a year for seven years (Req g). Recent delivered growth is +24%, so the hurdle is -31 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 3.6 points above its cost of capital (5.8% WACC).
Short interest Short interest is 1.6% of the free float (15 Oct 2026).
Next results Next results expected around 4 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $5.24B | $5.18B | $4.64B | $3.77B | $1.35B |
| Revenue growth | — | +12% | +23% | +180% | — |
| Gross profit | $1.39B | $1.40B | $1.14B | $891M | -$213M |
| EBITDA | $1.18B | $1.24B | $1.06B | $857M | -$228M |
| Net income | $235M | $186M | $43.6M | -$327M | -$929M |
| Free cash flow | n/a | $496M | $365M | $365M | -$1.23B |
| Capital expenditure | n/a | $343M | $301M | $264M | $621M |
| Total debt | $7.31B | $7.02B | $7.46B | $7.77B | $8.71B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Melco Resorts & Entertainment Ltd. Sponsored ADR MLCO | $1.79B | -16% | +6% | 12% | 7.5× | -6.2% |
| Sands China 1928.HK | $11.4B | -30% | +9% | 26% | 12.9× | 2.5% |
| Wynn Macau 1128.HK | $2.99B | -24% | +9% | 29% | 8.7× | -2.4% |
| Galaxy Ent 0027.HK | $19.4B | +8% | +8% | 32% | 14.2× | 2.8% |
| MGM China 2282.HK | $4.85B | -12% | +11% | 31% | 9.3× | -3.1% |
| SJM 0880.HK | $974M | -49% | -16% | 6% | n/a | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | MLCO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +8.2% | +5.4% | 8th highest of 21 |
| 6-month return | -16.0% | -3.6% | 5th lowest of 21 |
| Distance from 52-week high | -52.7% | -16.7% | 2nd lowest of 21 |
| Revenue growth (TTM) | +6.0% | +6.1% | 11th highest of 21 |
| Operating margin | 12.2% | 14.9% | 6th lowest of 21 |
| Forward P/E | 7.5× | 17.1× | 2nd cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | -6.2% | 3.6% | 5th least demanding of 19 |
| Growth delivered (Del g) | +24.5% | +18.1% | 6th highest of 19 |
| Hurdle (Req g minus delivered) | -30.6 pp | -19.3 pp | 3rd least demanding of 19 |
| ROIC minus cost of capital | +3.6 pp | -0.7 pp | 6th highest of 21 |
| EV / EBITDA | 7.2× | 13.5× | 4th cheapest of 20 |
| Net debt / EBITDA | 5.4× | 2.5× | 5th most indebted of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Melco Resorts & Entertainment Ltd. Sponsored ADR MLCO | United States | $1.79B | -16% | +6% | 12% | 7.5× | -6.2% | +24.5% |
| Shangri-La Asia 0069.HK | Hong Kong | $1.87B | -9% | +5% | 35% | 10.6× | -8.7% | +16.8% |
| Chalet Hotels CHALET.NS | India | $1.88B | +2% | -17% | 34% | 28.1× | 24.1% | +57.5% |
| Monarch Casino & Resort MCRI | United States | $1.92B | -8% | +5% | 27% | 15.6× | 6.7% | +24.2% |
| Kyoritsu Maintenance 9616.T | Japan | $2.00B | +47% | +20% | 9% | 16.7× | 2.3% | +17.8% |
| SkiStar SKIS-B.ST | Sweden | $1.58B | +27% | +7% | 17% | 21.3× | 8.4% | +12.5% |
| EIH EIHOTEL.NS | India | $2.07B | -7% | +8% | 29% | 23.2× | 28.9% | +42.9% |
| Hotel Properties H15.SI | Singapore | $2.07B | +11% | +2% | 7% | n/a | n/a | n/a |
| Hbx Group International HBX.MC | Spain | $2.19B | +29% | +4% | 38% | 9.6× | -4.2% | +18.4% |
| Lindblad Expeditions LIND | United States | $2.23B | +61% | +17% | 8% | 89.0× | 33.0% | +56.4% |
| BTG Hotels (Group) Co Ltd Shs -A- 600258.SS | China | $2.25B | -14% | -3% | 18% | 17.0× | -11.1% | +7.6% |
| Scandic Hotels SHOT.ST | Sweden | $2.29B | +16% | +3% | 13% | 17.2× | 3.2% | +24.4% |
| Great Eagle 0041.HK | Hong Kong | $1.37B | -24% | +75% | 12% | n/a | -0.9% | +13.8% |
| Resorttrust 4681.T | Japan | $2.36B | -1% | +8% | 12% | 16.4× | -6.4% | +9.4% |
| Ventive Hospitality VENTIVE.NS | India | $1.34B | -17% | +15% | 29% | 26.2× | 29.9% | +78.5% |
| Leela Palaces Hotels & Resorts THELEELA.NS | India | $2.45B | +65% | +17% | 42% | 43.7× | n/a | n/a |
| NagaCorp 3918.HK | Hong Kong | $1.21B | -48% | +12% | 58% | 4.7× | -19.3% | -4.1% |
| Melia Hotels International MEL.MC | Spain | $2.67B | -10% | +5% | 13% | 15.2× | 7.3% | +31.5% |
| Target Hospitality TH | United States | $1.13B | -26% | +12% | -9% | 22.9× | 49.9% | +7.3% |
| Guoco 0053.HK | Hong Kong | $2.90B | 0% | -11% | 13% | n/a | -3.9% | +16.0% |
| Hongkong & Shanghai Hotels 0045.HK | Hong Kong | $1.11B | -12% | -4% | 13% | n/a | 4.0% | +24.1% |