Loading...

You're on the old version of Simply Wall St. We will no longer be supporting this site, so we recommend you switch to our brand new platform.

Sands China

DB:599A
Snowflake Description

Solid track record, good value and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
599A
DB
HK$221B
Market Cap
  1. Home
  2. DE
  3. Consumer Services
Company description

Sands China Ltd., an investment holding company, develops, owns, and operates integrated resorts and casinos in Macao. The last earnings update was 44 days ago. More info.


Add to Portfolio Compare Print
  • Sands China has significant price volatility in the past 3 months.
599A Share Price and Events
7 Day Returns
-5.5%
DB:599A
-6.8%
DE Hospitality
-0.6%
DE Market
1 Year Returns
-30.5%
DB:599A
-48.1%
DE Hospitality
-20.9%
DE Market
599A Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Sands China (599A) -5.5% -15.4% -34.4% -30.5% -27.9% -28.4%
DE Hospitality -6.8% -31.3% -57.6% -48.1% -63.2% -70.6%
DE Market -0.6% -18.6% -26.2% -20.9% -25.8% -31.8%
1 Year Return vs Industry and Market
  • 599A outperformed the Hospitality industry which returned -48.1% over the past year.
  • 599A underperformed the Market in Germany which returned -20.9% over the past year.
Price Volatility
599A
Industry
5yr Volatility vs Market

599A Value

 Is Sands China undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Sands China to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Sands China.

DB:599A Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 20 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 4.7%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:599A
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Hospitality Unlevered Beta Simply Wall St/ S&P Global 0.78
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.782 (1 + (1- 26.01%) (19.69%))
0.93
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.93
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (0.93 * 5.44%)
4.67%

Discounted Cash Flow Calculation for DB:599A using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Sands China is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

DB:599A DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 4.67%)
2020 934.77 Analyst x5 893.06
2021 2,773.29 Analyst x7 2,531.30
2022 3,188.67 Analyst x3 2,780.56
2023 4,329.00 Analyst x1 3,606.50
2024 5,170.21 Est @ 19.43% 4,115.10
2025 5,867.43 Est @ 13.49% 4,461.64
2026 6,414.44 Est @ 9.32% 4,659.93
2027 6,825.53 Est @ 6.41% 4,737.31
2028 7,123.76 Est @ 4.37% 4,723.67
2029 7,333.30 Est @ 2.94% 4,645.62
Present value of next 10 years cash flows $37,154.00
DB:599A DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $7,333.30 × (1 + -0.39%) ÷ (4.67% – -0.39%)
$144,338.88
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $144,338.88 ÷ (1 + 4.67%)10
$91,438.26
DB:599A Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $37,154.00 + $91,438.26
$128,592.26
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $128,592.26 / 8,088.80
$15.9
DB:599A Discount to Share Price
Calculation Result
Exchange Rate USD/HKD
(Reporting currency to currency of SEHK:1928)
7.753
Value per Share
(HKD)
= Value per Share in USD x Exchange Rate (USD/HKD)
= $15.9 x 7.753
HK$123.25
Non-primary Listing Adjustment Factor 1 share in DB:599A represents 0.11711x of SEHK:1928
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.11711x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 123.25 x 0.11711
€14.43
Value per share (EUR) From above. €14.43
Current discount Discount to share price of €3.20
= -1 x (€3.20 - €14.43) / €14.43
77.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Sands China is available for.
Intrinsic value
>50%
Share price is €3.2 vs Future cash flow value of €14.43
Current Discount Checks
For Sands China to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Sands China's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Sands China's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Sands China's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Sands China's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:599A PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $0.25
SEHK:1928 Share Price ** SEHK (2020-04-03) in HKD HK$27.3
SEHK:1928 Share Price converted to USD reporting currency Exchange rate (HKD/ USD) 0.129 $3.52
Germany Hospitality Industry PE Ratio Median Figure of 9 Publicly-Listed Hospitality Companies 21.1x
Germany Market PE Ratio Median Figure of 401 Publicly-Listed Companies 16.57x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Sands China.

DB:599A PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:1928 Share Price ÷ EPS (both in USD)

= 3.52 ÷ 0.25

14x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Sands China is good value based on earnings compared to the DE Hospitality industry average.
  • Sands China is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Sands China's expected growth come at a high price?
Raw Data
DB:599A PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 14x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 20 Analysts
7.8%per year
Europe Hospitality Industry PEG Ratio Median Figure of 63 Publicly-Listed Hospitality Companies 0.96x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.17x

*Line of best fit is calculated by linear regression .

DB:599A PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 14x ÷ 7.8%

1.79x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Sands China is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Sands China's assets?
Raw Data
DB:599A PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $0.55
SEHK:1928 Share Price * SEHK (2020-04-03) in HKD HK$27.3
SEHK:1928 Share Price converted to USD reporting currency Exchange rate (HKD/ USD) 0.129 $3.52
Germany Hospitality Industry PB Ratio Median Figure of 12 Publicly-Listed Hospitality Companies 1.73x
Germany Market PB Ratio Median Figure of 572 Publicly-Listed Companies 1.44x
DB:599A PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:1928 Share Price ÷ Book Value per Share (both in USD)

= 3.52 ÷ 0.55

6.41x

* Primary Listing of Sands China.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Sands China is overvalued based on assets compared to the DE Hospitality industry average.
X
Value checks
We assess Sands China's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Hospitality industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Hospitality industry average (and greater than 0)? (1 check)
  5. Sands China has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

599A Future Performance

 How is Sands China expected to perform in the next 1 to 3 years based on estimates from 20 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
7.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Sands China expected to grow at an attractive rate?
  • Sands China's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Sands China's earnings growth is positive but not above the Germany market average.
  • Sands China's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:599A Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:599A Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 20 Analysts 7.8%
DB:599A Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 20 Analysts 6.4%
Germany Hospitality Industry Earnings Growth Rate Market Cap Weighted Average 28.9%
Germany Hospitality Industry Revenue Growth Rate Market Cap Weighted Average 4%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:599A Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 20 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:599A Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 12,467 4,516 1
2022-12-31 10,193 3,577 2,450 8
2021-12-31 9,692 3,428 2,322 20
2020-12-31 6,253 1,494 1,482 9
2020-04-05
DB:599A Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 8,808 2,812 2,033
2019-09-30 8,838 2,834 1,998
2019-06-30 8,868 2,855 1,963
2019-03-31 8,767 2,952 1,919
2018-12-31 8,665 3,049 1,875
2018-09-30 8,429 1,949
2018-06-30 8,216 3,002 1,904
2018-03-31 7,846 1,744
2017-12-31 7,586 2,626 1,603
2017-09-30 7,467 1,429
2017-06-30 7,194 2,567 1,351
2017-03-31 6,904 1,260

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Sands China's earnings are expected to grow by 7.8% yearly, however this is not considered high growth (20% yearly).
  • Sands China's revenue is expected to grow by 6.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:599A Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 20 Analyst Estimates (S&P Global) See Below

All data from Sands China Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:599A Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31 0.30 0.34 0.25 7.00
2021-12-31 0.28 0.36 0.18 18.00
2020-12-31 0.09 0.14 0.05 8.00
2020-04-05
DB:599A Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 0.25
2019-09-30 0.25
2019-06-30 0.24
2019-03-31 0.24
2018-12-31 0.23
2018-09-30 0.24
2018-06-30 0.24
2018-03-31 0.22
2017-12-31 0.20
2017-09-30 0.18
2017-06-30 0.17
2017-03-31 0.16

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Sands China is expected to make outstanding use of shareholders’ funds in the future (Return on Equity greater than 40%).
X
Future performance checks
We assess Sands China's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Sands China has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

599A Past Performance

  How has Sands China performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Sands China's growth in the last year to its industry (Hospitality).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Sands China's year on year earnings growth rate has been positive over the past 5 years.
  • Sands China's 1-year earnings growth exceeds its 5-year average (8.4% vs 1.9%)
  • Sands China's earnings growth has exceeded the DE Hospitality industry average in the past year (8.4% vs -36.8%).
Earnings and Revenue History
Sands China's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Sands China Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:599A Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 8,808.00 2,033.00 137.00
2019-09-30 8,838.00 1,998.00 136.50
2019-06-30 8,868.00 1,963.00 136.00
2019-03-31 8,766.50 1,919.00 137.50
2018-12-31 8,665.00 1,875.00 139.00
2018-09-30 8,429.00 1,949.00 246.50
2018-06-30 8,216.00 1,904.00 139.00
2018-03-31 7,845.50 1,743.50 177.00
2017-12-31 7,586.00 1,603.00 146.00
2017-09-30 7,467.00 1,429.00 133.00
2017-06-30 7,194.00 1,351.00 149.00
2017-03-31 6,904.00 1,260.00 133.00
2016-12-31 6,543.00 1,224.00 132.00
2016-09-30 6,462.39 1,255.79 156.05
2016-06-30 6,397.41 1,275.51 117.34
2016-03-31 6,682.57 1,427.52 156.05
2015-12-31 6,683.00 1,459.00 145.00
2015-09-30 7,275.96 1,613.48 198.01
2015-06-30 7,946.57 1,911.78 196.29
2015-03-31 8,558.80 2,140.64 198.01
2014-12-31 9,505.23 2,547.70 207.81
2014-09-30 9,907.91 2,669.21 144.63
2014-06-30 9,912.84 2,644.80 179.65
2014-03-31 9,606.42 2,513.16 144.63
2013-12-31 8,907.86 2,214.88 144.63
2013-09-30 8,356.85 2,026.88 99.73
2013-06-30 7,661.11 1,736.39 120.03

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Whilst Sands China made outstanding use of shareholders’ funds last year (Return on Equity greater than 40%), this is metric is skewed due to its high level of debt.
  • Sands China used its assets more efficiently than the DE Hospitality industry average last year based on Return on Assets.
  • Sands China has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Sands China's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Hospitality industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Sands China has a total score of 5/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

599A Health

 How is Sands China's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Sands China's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Sands China is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Sands China's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Sands China's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.6x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Sands China Company Filings, last reported 3 months ago.

DB:599A Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 4,446.00 5,461.00 2,471.00
2019-09-30 4,446.00 5,461.00 2,471.00
2019-06-30 3,456.00 5,472.00 1,785.00
2019-03-31 3,456.00 5,472.00 1,785.00
2018-12-31 4,409.00 5,427.00 2,676.00
2018-09-30 4,409.00 5,427.00 2,676.00
2018-06-30 3,501.00 4,740.00 1,063.00
2018-03-31 3,501.00 4,740.00 1,063.00
2017-12-31 4,538.00 4,275.00 1,239.00
2017-09-30 3,607.00 4,904.00 781.00
2017-06-30 3,607.00 4,830.00 781.00
2017-03-31 5,007.00 4,374.00 1,284.00
2016-12-31 5,007.00 4,294.00 1,284.00
2016-09-30 4,323.49 4,390.53 656.16
2016-06-30 4,323.49 4,314.45 656.16
2016-03-31 5,838.61 3,385.30 1,283.10
2015-12-31 5,839.00 3,305.00 1,283.00
2015-09-30 5,106.36 3,374.64 1,955.42
2015-06-30 5,106.36 3,294.49 1,955.42
2015-03-31 6,429.35 3,200.19 2,535.32
2014-12-31 6,429.35 3,115.45 2,535.32
2014-09-30 5,242.25 3,192.94 1,507.79
2014-06-30 5,242.25 3,107.70 1,507.79
2014-03-31 6,449.88 3,229.69 2,943.44
2013-12-31 6,449.88 3,139.59 2,943.44
2013-09-30
2013-06-30 5,150.94 3,133.96 1,639.04
  • Sands China's level of debt (122.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (48.5% vs 122.8% today).
  • Debt is well covered by operating cash flow (51.5%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 9.7x coverage).
X
Financial health checks
We assess Sands China's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Sands China has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

599A Dividends

 What is Sands China's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
7.25%
Current annual income from Sands China dividends. Estimated to be 7.39% next year.
If you bought €2,000 of Sands China shares you are expected to receive €145 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Sands China's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.7%).
  • Sands China's dividend is above the markets top 25% of dividend payers in Germany (4.86%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:599A Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 20 Analyst Estimates (S&P Global) See Below
Germany Hospitality Industry Average Dividend Yield Market Cap Weighted Average of 8 Stocks 11.3%
Germany Market Average Dividend Yield Market Cap Weighted Average of 316 Stocks 3.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 4.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:599A Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 0.27 1.00
2022-12-31 0.26 8.00
2021-12-31 0.27 20.00
2020-12-31 0.25 21.00
2020-04-05
DB:599A Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2020-01-17 0.255 5.751
2019-03-29 0.254 5.178
2019-03-15 0.254 5.189
2019-02-22 0.254 5.169
2019-01-18 0.254 5.352
2018-03-28 0.254 5.247
2018-01-19 0.254 4.485
2017-03-30 0.257 5.421
2017-03-17 0.256 5.606
2017-02-17 0.257 6.013
2017-01-20 0.256 5.973
2016-03-23 0.257 6.426
2016-03-11 0.256 6.664
2016-02-19 0.257 7.231
2016-01-22 0.255 7.854
2015-03-26 0.257 6.937
2015-03-13 0.256 6.324
2015-02-13 0.257 5.655
2015-01-23 0.142 2.875
2014-03-27 0.223 3.553
2014-03-14 0.125 1.620
2014-02-14 0.223 2.787
2014-01-27 0.197 2.601
2013-03-21 0.171 2.862
2013-03-15 0.171 3.665
2013-02-07 0.171 3.668
2013-01-25 0.173 3.518
2012-04-26 0.150 4.124
2012-02-01 0.149 3.896
2012-01-16 0.150 4.541
2011-11-08 0.150 5.276
2011-09-15 0.150 5.550
2011-08-29 0.150 4.941

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Sands China has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Sands China only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of Sands China's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.2x coverage).
X
Income/ dividend checks
We assess Sands China's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Sands China afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Sands China has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

599A Management

 What is the CEO of Sands China's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Sheldon Adelson
COMPENSATION $0
AGE 85
TENURE AS CEO 5.1 years
CEO Bio

Mr. Sheldon Gary Adelson is Founder and has been the Chief Executive Officer of Sands China Ltd., since March 6, 2015. Mr. Adelson has been the Chief Executive Officer of Las Vegas Sands Corp. since August 2004. He is the Chairman and Chief Executive Officer at Las Vegas Sands, LLC since April 1988. He has been the Chairman and President of Interface Group Holding Company, Inc. since the mid-1970s. He is a Principal Owner and Chief Executive Officer of Venetian Casino Resort LLC. He has been a Treasurer of Las Vegas Sands Corp., since August 2004. He created and developed the COMDEX Trade Shows, including the COMDEX/Fall Trade Show, the world's largest computer show, all of which were sold to Softbank Corporation in April 1995. He served as the Chief Executive Officer of Marina Bay Sands Pte. Ltd. He also created and developed the Sands Expo Center, which he grew into one of the largest convention and trade show destinations in the United States in July 2004. He has been the Chairman of Sands China Ltd. since August 18, 2009. He serves as the Chairman of Marina Bay Sands Pte. Ltd. Mr. Adelson has been the Chairman of the board, Chief Executive Offi cer and a director of Las Vegas Sands, LLC (or its predecessor, Las Vegas Sands, Inc.) since April 1988, when it was formed to own and operate the former Sands Hotel and Casino. He has been the Chairman of Interface Group-Massachusetts Inc. since 1990. Mr. Adelson has been the Chairman of the board, Chief Executive Officer and a director of Las Vegas Sands, LLC since August 2004. He has been the Chairman of Las Vegas Sands Corp., since August 2004. He serves as the Chairman of Venetian Casino Resort LLC. He has been a Director of Las Vegas Sands Corp. since August 2004. He has been an Executive Director of Sands China Ltd. since March 6, 2015 and served as its Non-Executive Director from August 18, 2009 to March 6, 2015. Mr. Adelson’s business career spans more than seven decades and has included creating and developing to maturity more than 50 different companies. Mr. Adelson has extensive experience in the convention, trade show and tour and travel businesses. He created and developed the COMDEX Trade Shows, including the COMDEX/Fall Trade Show, which was the world’s largest computer show in the 1990s. He is also the chief executive officer of one of the U.S. subsidiaries. Mr. Adelson has earned multiple honorary degrees and has been a guest lecturer at various colleges and universities, including the University of New Haven, Harvard Business School, Columbia Business School, Tel Aviv University and Babson College. Among his numerous awards for his business and philanthropic work are the Armed Forces Foundation’s Patriot Award, the Hotel Investment Conference’s Innovation Award, the Woodrow Wilson Award for Corporate Citizenship and induction into the American Gaming Association’s Hall of Fame.

CEO Compensation
  • Insufficient data for Sheldon to compare compensation growth.
  • Insufficient data for Sheldon to establish whether their remuneration is reasonable compared to companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Sands China management team in years:

3
Average Tenure
50
Average Age
  • The tenure for the Sands China management team is about average.
Management Team

Sheldon Adelson

TITLE
Chairman & CEO
AGE
85
TENURE
5.1 yrs

Wilfred Wong

TITLE
President & Executive Director
COMPENSATION
$5M
AGE
66
TENURE
4.4 yrs

Dave Sun

TITLE
CFO & Senior VP
AGE
45
TENURE
3 yrs

Grant Chum

TITLE
Chief Operating Officer
AGE
43
TENURE
0.2 yrs

Dylan Williams

TITLE
General Counsel & Company Secretary
AGE
43
TENURE
0.2 yrs

David Sylvester

TITLE
Executive Vice President of Global Retail
AGE
55
Board of Directors Tenure

Average tenure and age of the Sands China board of directors in years:

6.4
Average Tenure
66
Average Age
  • The tenure for the Sands China board of directors is about average.
Board of Directors

Wilfred Wong

TITLE
President & Executive Director
COMPENSATION
$5M
AGE
66
TENURE
4.3 yrs

Victor Hoog Antink

TITLE
Independent Non-Executive Director
COMPENSATION
$180K
AGE
66
TENURE
7.3 yrs

Sheldon Adelson

TITLE
Chairman & CEO
AGE
85
TENURE
10.7 yrs

Steve Strasser

TITLE
Independent Non Executive Director
COMPENSATION
$180K
AGE
70
TENURE
6.9 yrs

Rachel Chiang

TITLE
Independent Non-Executive Director
COMPENSATION
$150K
AGE
51
TENURE
10.5 yrs

Rob Goldstein

TITLE
Non-Executive Director
AGE
63
TENURE
5.1 yrs

Charles Forman

TITLE
Non-Executive Director
COMPENSATION
$150K
AGE
72
TENURE
5.9 yrs

Kenneth Patrick Chung

TITLE
Independent Non-Executive Director
COMPENSATION
$150K
AGE
62
TENURE
3.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
20. Jan 20 Buy J.P. Morgan Asset Management, Inc. Company 15. Jan 20 15. Jan 20 203,971,469 €5.11 €1,041,711,660
X
Management checks
We assess Sands China's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Sands China has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

599A News

Simply Wall St News

599A Company Info

Description

Sands China Ltd., an investment holding company, develops, owns, and operates integrated resorts and casinos in Macao. It owns and operates The Venetian Macao-Resort-Hotel, the Sands Cotai Central resort, The Parisian Macao resort, The Plaza Macao, and Sands Macao casino; the CotaiExpo, an convention and exhibition hall; and the Cotai Arena, an entertainment venue. As of December 31, 2018, the company had 12,341 hotel rooms and suites, 151 restaurants, 2.1 million square feet of retail malls, 1.7 million square feet of MICE space, 4 permanent theatres, a 15,000-seat arena, and casinos. It also offers ferry transportation and leasing services, and pontoon leasing; security services; human resources administration services; financing; mall management services; travel and tourism agency services; and procurement, marketing, and administrative services, as well as outsourcing services, including information technology, accounting, hotel reservation, and marketing. The company was incorporated in 2009 and is headquartered in Taipa, Macau. Sands China Ltd. operates as a subsidiary of Venetian Venture Development Intermediate II

Details
Name: Sands China Ltd.
599A
Exchange: DB
Founded: 2009
HK$26,400,768,616
8,088,800,116
Website: http://www.sandschinaltd.com
Address: Sands China Ltd.
The Venetian Macao-Resort-Hotel,
Executive Offices, L2,
Taipa,
Macau
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 1928 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 30. Nov 2009
OTCPK SCHY.F Ordinary Shares Pink Sheets LLC US USD 30. Nov 2009
DB 599A Ordinary Shares Deutsche Boerse AG DE EUR 30. Nov 2009
SHSC 1928 Ordinary Shares Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 30. Nov 2009
SZSC 1928 Ordinary Shares The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 30. Nov 2009
OTCPK SCHY.Y UNSPONSORE ADR Pink Sheets LLC US USD 18. May 2010
Number of employees
Current staff
Staff numbers
29,000
Sands China employees.
Industry
Casinos and Gaming
Consumer Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/05 22:17
End of day share price update: 2020/04/03 00:00
Last estimates confirmation: 2020/04/01
Last earnings filing: 2020/02/21
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.