SJM Holdings (0880) Fair Value & Analysis
Consumer Cyclical · HK · Market cap HK$10.4B
Fair value as of: Aug 13, 2026
From 10 valuation models · updated 2 days ago
Share price −2.0% over the past month.
Below-average quality, and screening another 21% overvalued on our models.
What matters now
- Weak quality (38/100) and above fair value at the same time, the margin of safety is missing on both counts.
- The model range is unusually wide (HK$0.2400 to HK$2.45). The outcome hinges heavily on assumptions, so read the point estimate with caution.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.
How to read this chart
60‑month range HK$1.44 – HK$9.82 · fair‑value band HK$0.2400 – HK$2.45 · the HK$1.46 price screens above the HK$1.16 fair value. Dashed = 300-day average. As of Aug 13, 2026.
Analysis
SJM Holdings (0880) currently trades at HK$1.46, while our model-based Fair Value estimate is HK$1.16, implying the stock looks roughly 20.6% overvalued today. The Quality Score stands at 38/100 (below-average quality), in the Consumer Cyclical sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).
Over the trailing twelve months, SJM Holdings generated revenue of HK$28.2B at a net margin of -1.5%. Revenue declined 9.6% year over year. It earns a return on equity of -2.6%. Net debt stands at HK$28.5B. Fundamentals as of Aug 13, 2026
Our scenario range runs from HK$0.2400 (bear case) to HK$2.45 (bull case); at HK$1.46, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 59% below its 52-week high and 2% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 8% fair-value upside, at -21%, 0880 screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 10 models by family
Widest divergence: Multiples (HK$2.56) versus Asset-Based (HK$1.27). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 36 · Market factors (momentum, volatility) 25
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
SJM Holdings Limited, an investment holding company, owns, develops, and operates casinos and integrated entertainment resorts in Macau. It operates through Gaming Operations; and Hotel, Catering, Retail and Leasing Operations segments. The Gaming Operations segment is involved in the rolling, non-rolling, and electronic game gaming operations.
Full company description
SJM Holdings Limited, an investment holding company, owns, develops, and operates casinos and integrated entertainment resorts in Macau. It operates through Gaming Operations; and Hotel, Catering, Retail and Leasing Operations segments. The Gaming Operations segment is involved in the rolling, non-rolling, and electronic game gaming operations. The Hotel, Catering, Retail, and Leasing Operations segment operates and manages a hotel; and engages in the catering, leasing, retail, and related activities. It offers marketing and promotion; property development preparation; casino operations management; dredging, customer, retail, human resources and project management; shopping mall management; food and beverage; as well as treasury and hospitality services. The company was incorporated in 2006 and is based in Central, Hong Kong. SJM Holdings Limited is a subsidiary of Sociedade de Turismo e Diversões de Macau, S.A.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
SJM Holdings reported revenue of HK$28.2B in FY2025 versus HK$5.9B in FY2021, a compound +47.9%/yr. Reported net income was −HK$429M in FY2025.
0880 screens 21% overvalued. Compare with Las Vegas Sands Corp →
Peer Group
Resorts & Casinos · 75 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Resorts & Casinos median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Resorts & Casinos stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Las Vegas Sands Corp LVS | $45.68 | $51.60 | +13% |
| Galaxy Entertainment Group 0027 | HK$34.20 | HK$40.46 | +18% |
| Sands China Ltd 1928 | HK$14.34 | HK$2.05 | -86% |
| MGM Resorts International, through its subsidiaries, MGM | $43.98 | $17.73 | -60% |
| Wynn Resorts, Limited WYNN | $102.97 | $69.39 | -33% |
| Red Rock Resorts, Inc RRR | $63.09 | $18.01 | -71% |
| Boyd Gaming Corporation BYD | $82.98 | $151.24 | +82% |
| Caesars Entertainment, Inc CZR | $29.74 | $80.92 | +172% |
| Genting Singapore Limited G13 | 0.6400 SGD | 0.6900 SGD | +8% |
| Vail Resorts, Inc MTN | $148.36 | $132.94 | -10% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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