MSC Financials STUDIO CITY INTERNATIONAL HOLDINGS Ltd
10 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 69.8% per year over the past 5 years.
Operating margin has expanded, at 10.1% in the latest year.
Financial health
Total debt ($2.0B) exceeds cash ($109M); net debt is $1.9B.
Total debt has grown slower than revenue (5.0% vs 69.8% per year).
Operating income covered interest expense 0.6× in the latest year, up from -2.7× 5 years ago.
Total debt is 7.2× EBITDA.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
2025
$695M
-$59M
0.0%
10.1%
-11.2%
-2.1%
—
$2.0B
$109M
2024
$639M
-$97M
0.0%
6.0%
-16.4%
-3.2%
—
$2.2B
$128M
2023
$446M
-$134M
0.0%
-6.5%
-20.0%
-4.1%
—
$2.3B
$228M
2022
$12M
-$326M
0.0%
-2400.6%
-40.8%
-9.1%
—
$2.4B
$510M
2021
$107M
-$253M
0.0%
-179.3%
-32.0%
-7.6%
—
$2.1B
$499M
2020
$49M
-$322M
0.0%
-568.9%
-30.3%
-10.6%
—
$1.6B
$575M
2019
$627M
$34M
0.0%
28.4%
3.8%
1.2%
—
$1.4B
$299M
2018
$571M
-$22M
0.0%
24.1%
-2.6%
-0.8%
—
$1.6B
$346M
2017
$540M
-$76M
0.0%
14.9%
-10.3%
-2.6%
—
$2.0B
$348M
2016
$425M
-$243M
0.0%
-12.9%
—
—
—
—
—
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
Dec '23
$141M
-$19M
0.0%
9.4%
-2.8%
-0.6%
—
$2.3B
$228M
Dec '22
$4M
-$85M
0.0%
-1651.9%
-10.7%
-2.4%
—
$2.4B
$510M
Dec '21
$28M
-$54M
0.0%
-158.5%
-6.8%
-1.6%
—
$2.1B
$499M
Dec '20
$24M
-$61M
0.0%
-216.6%
-5.8%
-2.0%
—
$1.6B
$575M
Valuation over time
How the market has priced MSC against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-sales ratio has fallen from 206.5× (Mar '23) to 0.5× (Nov '26).
Price / sales (P/S)
P/S
Frequently asked questions
Is MSC growing its revenue and profit?
Over the past 5 years, STUDIO CITY INTERNATIONAL HOLDINGS Ltd's revenue has grown 69.8% per year. These are computed facts, not advice.
How much debt does MSC have?
As of FY2025, STUDIO CITY INTERNATIONAL HOLDINGS Ltd reported $2.0B of total debt against $109M of cash; operating income covered interest expense 0.6×.
What is MSC's profit margin?
In FY2025, gross margin was —, operating margin 10.1%, and net margin -8.5%.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.