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Sands China stock: key metrics
1928.HKSands China had an operating margin of 16.5% and a return on invested capital (ROIC) of 17.2% in fiscal 2025.
Margins show how much of revenue is left over, returns on capital how hard the invested money works.
Daily figure as of 13 Nov 2026
Margins
- Gross margin
- Operating margin
- Net margin
Figures as a table
| Year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| 2008 | 56.0% | 9.6% | 5.8% |
| 2009 | 56.5% | 11.2% | 6.5% |
| 2010 | 55.4% | 19.0% | 16.1% |
| 2011 | 56.6% | 24.6% | 23.2% |
| 2012 | 81.6% | 22.0% | 19.0% |
| 2013 | 84.0% | 26.0% | 24.9% |
| 2014 | 83.6% | 27.7% | 26.8% |
| 2015 | 81.6% | 23.0% | 21.8% |
| 2016 | 80.6% | 20.8% | 18.7% |
| 2017 | 81.9% | 23.7% | 21.1% |
| 2018 | 83.5% | 26.3% | 21.6% |
| 2019 | 83.3% | 27.3% | 23.1% |
| 2020 | 32.5% | −73.4% | −90.3% |
| 2021 | 60.1% | −18.7% | −36.5% |
| 2022 | 30.3% | −72.6% | −98.6% |
| 2023 | 80.1% | 18.7% | 10.6% |
| 2024 | 59.0% | 19.3% | 14.8% |
| 2025 | 79.4% | 16.5% | 12.0% |
Returns on capital
- ROE
- ROIC
- ROA
Figures as a table
| Year | ROE | ROIC | ROA |
|---|---|---|---|
| 2008 | 13.9% | 6.4% | 2.5% |
| 2009 | 5.8% | 7.1% | 2.9% |
| 2010 | 15.3% | 12.6% | 7.9% |
| 2011 | 20.5% | 18.6% | 11.2% |
| 2012 | 22.1% | 21.5% | 11.9% |
| 2013 | 34.3% | 34.0% | 19.3% |
| 2014 | 39.6% | 37.9% | 22.5% |
| 2015 | 25.0% | 20.3% | 13.5% |
| 2016 | 24.4% | 16.4% | 10.9% |
| 2017 | 35.3% | 22.4% | 15.1% |
| 2018 | 42.5% | 30.4% | 15.5% |
| 2019 | 45.7% | 23.0% | 16.8% |
| 2020 | −79.0% | −12.5% | −14.4% |
| 2021 | −100.0% | −5.2% | −10.4% |
| 2022 | 200.0% | −10.9% | −15.0% |
| 2023 | −100.0% | 14.6% | 6.7% |
| 2024 | 101.4% | 19.3% | 9.4% |
| 2025 | 64.0% | 17.2% | 8.5% |
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Currency
- Amounts in US dollars, converted at the ECB reference rate of 12 Nov 2026 ($1 = HK$7.8782)
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Neutral, published since 7 Nov 2026 (in the score history since 27 Mar 2026)
- Valuation signal Fairly valued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.