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Also traded in: Germany, Hongkong

GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 7/10

vs
industry
vs
history
Cash to Debt 0.38
MPEL's Cash to Debt is ranked lower than
64% of the 861 Companies
in the Global Resorts & Casinos industry.

( Industry Median: 0.82 vs. MPEL: 0.38 )
Ranked among companies with meaningful Cash to Debt only.
MPEL' s Cash to Debt Range Over the Past 10 Years
Min: 0.12  Med: 0.53 Max: No Debt
Current: 0.38
Equity to Asset 0.42
MPEL's Equity to Asset is ranked lower than
66% of the 849 Companies
in the Global Resorts & Casinos industry.

( Industry Median: 0.53 vs. MPEL: 0.42 )
Ranked among companies with meaningful Equity to Asset only.
MPEL' s Equity to Asset Range Over the Past 10 Years
Min: 0.07  Med: 0.52 Max: 0.83
Current: 0.42
0.07
0.83
Interest Coverage 0.83
MPEL's Interest Coverage is ranked lower than
92% of the 626 Companies
in the Global Resorts & Casinos industry.

( Industry Median: 8.33 vs. MPEL: 0.83 )
Ranked among companies with meaningful Interest Coverage only.
MPEL' s Interest Coverage Range Over the Past 10 Years
Min: 0.83  Med: 4.63 Max: N/A
Current: 0.83
F-Score: 3
Z-Score: 1.61
M-Score: -2.50
WACC vs ROIC
12.37%
1.74%
WACC
ROIC
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 5/10

vs
industry
vs
history
Operating margin (%) 2.48
MPEL's Operating margin (%) is ranked lower than
67% of the 854 Companies
in the Global Resorts & Casinos industry.

( Industry Median: 7.47 vs. MPEL: 2.48 )
Ranked among companies with meaningful Operating margin (%) only.
MPEL' s Operating margin (%) Range Over the Past 10 Years
Min: -159.7  Med: 2.99 Max: 16.51
Current: 2.48
-159.7
16.51
Net-margin (%) 2.66
MPEL's Net-margin (%) is ranked lower than
59% of the 856 Companies
in the Global Resorts & Casinos industry.

( Industry Median: 4.61 vs. MPEL: 2.66 )
Ranked among companies with meaningful Net-margin (%) only.
MPEL' s Net-margin (%) Range Over the Past 10 Years
Min: -203.54  Med: 1.25 Max: 12.67
Current: 2.66
-203.54
12.67
ROE (%) 2.44
MPEL's ROE (%) is ranked lower than
62% of the 827 Companies
in the Global Resorts & Casinos industry.

( Industry Median: 4.93 vs. MPEL: 2.44 )
Ranked among companies with meaningful ROE (%) only.
MPEL' s ROE (%) Range Over the Past 10 Years
Min: -12.55  Med: 1.18 Max: 16.7
Current: 2.44
-12.55
16.7
ROA (%) 1.01
MPEL's ROA (%) is ranked lower than
62% of the 864 Companies
in the Global Resorts & Casinos industry.

( Industry Median: 2.32 vs. MPEL: 1.01 )
Ranked among companies with meaningful ROA (%) only.
MPEL' s ROA (%) Range Over the Past 10 Years
Min: -6.59  Med: 0.48 Max: 7.61
Current: 1.01
-6.59
7.61
ROC (Joel Greenblatt) (%) 0.99
MPEL's ROC (Joel Greenblatt) (%) is ranked lower than
74% of the 858 Companies
in the Global Resorts & Casinos industry.

( Industry Median: 9.55 vs. MPEL: 0.99 )
Ranked among companies with meaningful ROC (Joel Greenblatt) (%) only.
MPEL' s ROC (Joel Greenblatt) (%) Range Over the Past 10 Years
Min: -39.8  Med: 2.02 Max: 20.99
Current: 0.99
-39.8
20.99
Revenue Growth (3Y)(%) -0.20
MPEL's Revenue Growth (3Y)(%) is ranked lower than
61% of the 690 Companies
in the Global Resorts & Casinos industry.

( Industry Median: 2.60 vs. MPEL: -0.20 )
Ranked among companies with meaningful Revenue Growth (3Y)(%) only.
MPEL' s Revenue Growth (3Y)(%) Range Over the Past 10 Years
Min: 0  Med: 34.80 Max: 344.5
Current: -0.2
0
344.5
EBITDA Growth (3Y)(%) -15.20
MPEL's EBITDA Growth (3Y)(%) is ranked lower than
85% of the 588 Companies
in the Global Resorts & Casinos industry.

( Industry Median: 5.40 vs. MPEL: -15.20 )
Ranked among companies with meaningful EBITDA Growth (3Y)(%) only.
MPEL' s EBITDA Growth (3Y)(%) Range Over the Past 10 Years
Min: 0  Med: 9.80 Max: 92.7
Current: -15.2
0
92.7
EPS Growth (3Y)(%) -36.30
MPEL's EPS Growth (3Y)(%) is ranked lower than
89% of the 507 Companies
in the Global Resorts & Casinos industry.

( Industry Median: 3.30 vs. MPEL: -36.30 )
Ranked among companies with meaningful EPS Growth (3Y)(%) only.
MPEL' s EPS Growth (3Y)(%) Range Over the Past 10 Years
Min: 0  Med: -31.90 Max: 501.8
Current: -36.3
0
501.8
» MPEL's 10-Y Financials

Financials (Next Earnings Date: Est. 2016-05-07)


Revenue & Net Income
Cash & Debt
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades

Q1 2015

MPEL Guru Trades in Q1 2015

Leon Cooperman 2,662,193 sh (+63.46%)
David Herro 19,362,000 sh (+22.08%)
Columbia Wanger 2,185,257 sh (+0.47%)
Mason Hawkins Sold Out
Jim Simons Sold Out
Paul Singer 2,161,077 sh (-20.84%)
George Soros 635,000 sh (-56.06%)
» More
Q2 2015

MPEL Guru Trades in Q2 2015

David Herro 23,446,000 sh (+21.09%)
Leon Cooperman 2,662,193 sh (unchged)
Paul Singer Sold Out
Columbia Wanger 1,349,056 sh (-38.27%)
George Soros 19,200 sh (-96.98%)
» More
Q3 2015

MPEL Guru Trades in Q3 2015

Mason Hawkins 46,800 sh (New)
David Herro 26,664,000 sh (+13.73%)
George Soros Sold Out
Columbia Wanger Sold Out
Leon Cooperman 750,000 sh (-71.83%)
» More
Q4 2015

MPEL Guru Trades in Q4 2015

Mason Hawkins 165,200 sh (+252.99%)
David Herro 28,848,000 sh (+8.19%)
Leon Cooperman Sold Out
» More
» Details

Insider Trades

Latest Guru Trades with MPEL

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

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Guru Investment Theses on Melco Crown Entertainment Ltd

Longleaf Partners Comments on Melco - Feb 15, 2016

As mentioned above, Macau casino and hotel operator Melco (NASDAQ:MPEL) gained 22% in the fourth quarter but remained among the Fund’s largest detractors for the year, down 31%. The stock benefited from improved sentiment regarding Macau during the quarter among indications that the higher margin mass market is stabilizing. In addition to relaxation of transit visa, the Macau government softened its stance on the smoking ban on the gaming floors. While Beijing will continue its anti-corruption campaign (which has hurt VIP business in Macau), the mass-focused infrastructure spending (high speed trains, ferry terminal, bridge from the HK airport, light rail) continues unabated. More than 90% of Melco Crown’s earnings before interest, taxes, depreciation and amortization (EBITDA) comes from mass business, where margins are 4X that of VIP business. Melco Crown opened its new mass-focused casino Studio City in late October, which helped increase market share in the all-important mass segment. This $3.2 billion project (relative to Melco’s market cap of $9 billion) has just started generating cash flow. We expect Studio City to receive an additional 50 table allocation in early 2016 in addition to its initial 200 table allocation. With a strong balance sheet, increasing EBITDA, and declining capital expenditure profile, the company is well positioned to buy back shares or buy out minority owners of Studio City. Melco International CEO, Lawrence Ho, bought about $25 million worth of shares in the fourth quarter.





From Longleaf Partners' International Fund commentary on the fourth quarter 2015.



Check out Mason Hawkins latest stock trades

David Herro Comments on Melco Crown Entertainment - Apr 09, 2015

An additional detractor for the quarter was Melco Crown Entertainment (MPEL) (Hong Kong), which is a developer and owner of casino gaming and entertainment resort facilities in Asia. Casino revenues in Macau were weak due to China’s anti-corruption campaign, difficult year-over-year comparisons and a weaker macro environment. Although we continue to monitor the market, we remain optimistic about Macau’s long-term prospects, given low penetration of Chinese visitors, continued wealth creation of Chinese citizens and large infrastructure projects, which should help facilitate the growth of Macau.

From David Herro (Trades, Portfolio)'s Oakmark International Fund 1Q 2015 Letter.

Check out David Herro latest stock trades

Top Ranked Articles about Melco Crown Entertainment Ltd

Longleaf Partners Comments on Melco Guru stock highlight
As mentioned above, Macau casino and hotel operator Melco (NASDAQ:MPEL) gained 22% in the fourth quarter but remained among the Fund’s largest detractors for the year, down 31%. The stock benefited from improved sentiment regarding Macau during the quarter among indications that the higher margin mass market is stabilizing. In addition to relaxation of transit visa, the Macau government softened its stance on the smoking ban on the gaming floors. While Beijing will continue its anti-corruption campaign (which has hurt VIP business in Macau), the mass-focused infrastructure spending (high speed trains, ferry terminal, bridge from the HK airport, light rail) continues unabated. More than 90% of Melco Crown’s earnings before interest, taxes, depreciation and amortization (EBITDA) comes from mass business, where margins are 4X that of VIP business. Melco Crown opened its new mass-focused casino Studio City in late October, which helped increase market share in the all-important mass segment. This $3.2 billion project (relative to Melco’s market cap of $9 billion) has just started generating cash flow. We expect Studio City to receive an additional 50 table allocation in early 2016 Read more...

Ratios

vs
industry
vs
history
P/E(ttm) 80.36
MPEL's P/E(ttm) is ranked lower than
90% of the 604 Companies
in the Global Resorts & Casinos industry.

( Industry Median: 21.12 vs. MPEL: 80.36 )
Ranked among companies with meaningful P/E(ttm) only.
MPEL' s P/E(ttm) Range Over the Past 10 Years
Min: 13.08  Med: 28.43 Max: 730
Current: 80.36
13.08
730
Forward P/E 29.24
MPEL's Forward P/E is ranked lower than
89% of the 132 Companies
in the Global Resorts & Casinos industry.

( Industry Median: 16.18 vs. MPEL: 29.24 )
Ranked among companies with meaningful Forward P/E only.
N/A
PE(NRI) 80.36
MPEL's PE(NRI) is ranked lower than
90% of the 601 Companies
in the Global Resorts & Casinos industry.

( Industry Median: 21.06 vs. MPEL: 80.36 )
Ranked among companies with meaningful PE(NRI) only.
MPEL' s PE(NRI) Range Over the Past 10 Years
Min: 13.08  Med: 29.60 Max: 99999999.99
Current: 80.36
13.08
99999999.99
P/B 1.91
MPEL's P/B is ranked lower than
57% of the 819 Companies
in the Global Resorts & Casinos industry.

( Industry Median: 1.65 vs. MPEL: 1.91 )
Ranked among companies with meaningful P/B only.
MPEL' s P/B Range Over the Past 10 Years
Min: 0.45  Med: 2.27 Max: 5.88
Current: 1.91
0.45
5.88
P/S 2.10
MPEL's P/S is ranked lower than
56% of the 849 Companies
in the Global Resorts & Casinos industry.

( Industry Median: 1.79 vs. MPEL: 2.10 )
Ranked among companies with meaningful P/S only.
MPEL' s P/S Range Over the Past 10 Years
Min: 0.77  Med: 2.38 Max: 143.55
Current: 2.1
0.77
143.55
EV-to-EBIT 196.65
MPEL's EV-to-EBIT is ranked lower than
97% of the 634 Companies
in the Global Resorts & Casinos industry.

( Industry Median: 16.87 vs. MPEL: 196.65 )
Ranked among companies with meaningful EV-to-EBIT only.
MPEL' s EV-to-EBIT Range Over the Past 10 Years
Min: -408.1  Med: 17.55 Max: 216.5
Current: 196.65
-408.1
216.5
EV-to-EBITDA 24.44
MPEL's EV-to-EBITDA is ranked lower than
79% of the 690 Companies
in the Global Resorts & Casinos industry.

( Industry Median: 11.60 vs. MPEL: 24.44 )
Ranked among companies with meaningful EV-to-EBITDA only.
MPEL' s EV-to-EBITDA Range Over the Past 10 Years
Min: -481.9  Med: 15.45 Max: 804
Current: 24.44
-481.9
804
PEG 11.32
MPEL's PEG is ranked lower than
89% of the 257 Companies
in the Global Resorts & Casinos industry.

( Industry Median: 1.92 vs. MPEL: 11.32 )
Ranked among companies with meaningful PEG only.
MPEL' s PEG Range Over the Past 10 Years
Min: 0.33  Med: 1.26 Max: 12.56
Current: 11.32
0.33
12.56
Shiller P/E 66.00
MPEL's Shiller P/E is ranked lower than
81% of the 161 Companies
in the Global Resorts & Casinos industry.

( Industry Median: 25.72 vs. MPEL: 66.00 )
Ranked among companies with meaningful Shiller P/E only.
MPEL' s Shiller P/E Range Over the Past 10 Years
Min: 41.76  Med: 78.20 Max: 131.14
Current: 66
41.76
131.14
Current Ratio 2.49
MPEL's Current Ratio is ranked higher than
75% of the 806 Companies
in the Global Resorts & Casinos industry.

( Industry Median: 1.37 vs. MPEL: 2.49 )
Ranked among companies with meaningful Current Ratio only.
MPEL' s Current Ratio Range Over the Past 10 Years
Min: 0.16  Med: 2.33 Max: 2.83
Current: 2.49
0.16
2.83
Quick Ratio 2.46
MPEL's Quick Ratio is ranked higher than
79% of the 806 Companies
in the Global Resorts & Casinos industry.

( Industry Median: 1.14 vs. MPEL: 2.46 )
Ranked among companies with meaningful Quick Ratio only.
MPEL' s Quick Ratio Range Over the Past 10 Years
Min: 0.16  Med: 2.31 Max: 2.82
Current: 2.46
0.16
2.82
Days Inventory 3.31
MPEL's Days Inventory is ranked higher than
85% of the 672 Companies
in the Global Resorts & Casinos industry.

( Industry Median: 26.36 vs. MPEL: 3.31 )
Ranked among companies with meaningful Days Inventory only.
MPEL' s Days Inventory Range Over the Past 10 Years
Min: 0.57  Med: 1.72 Max: 3.66
Current: 3.31
0.57
3.66
Days Sales Outstanding 24.94
MPEL's Days Sales Outstanding is ranked lower than
51% of the 644 Companies
in the Global Resorts & Casinos industry.

( Industry Median: 24.38 vs. MPEL: 24.94 )
Ranked among companies with meaningful Days Sales Outstanding only.
MPEL' s Days Sales Outstanding Range Over the Past 10 Years
Min: 4.19  Med: 26.83 Max: 71.8
Current: 24.94
4.19
71.8
Days Payable 2.03
MPEL's Days Payable is ranked lower than
95% of the 559 Companies
in the Global Resorts & Casinos industry.

( Industry Median: 47.16 vs. MPEL: 2.03 )
Ranked among companies with meaningful Days Payable only.
MPEL' s Days Payable Range Over the Past 10 Years
Min: 0.77  Med: 1.66 Max: 31.95
Current: 2.03
0.77
31.95

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield 0.43
MPEL's Dividend Yield is ranked lower than
72% of the 684 Companies
in the Global Resorts & Casinos industry.

( Industry Median: 2.29 vs. MPEL: 0.43 )
Ranked among companies with meaningful Dividend Yield only.
MPEL' s Dividend Yield Range Over the Past 10 Years
Min: 0.35  Med: 0.92 Max: 1.73
Current: 0.43
0.35
1.73
Dividend Payout 0.60
MPEL's Dividend Payout is ranked higher than
72% of the 417 Companies
in the Global Resorts & Casinos industry.

( Industry Median: 0.40 vs. MPEL: 0.60 )
Ranked among companies with meaningful Dividend Payout only.
MPEL' s Dividend Payout Range Over the Past 10 Years
Min: 0.25  Med: 0.42 Max: 0.6
Current: 0.6
0.25
0.6
Forward Dividend Yield 0.48
MPEL's Forward Dividend Yield is ranked lower than
92% of the 646 Companies
in the Global Resorts & Casinos industry.

( Industry Median: 2.46 vs. MPEL: 0.48 )
Ranked among companies with meaningful Forward Dividend Yield only.
N/A
Yield on cost (5-Year) 0.43
MPEL's Yield on cost (5-Year) is ranked lower than
74% of the 841 Companies
in the Global Resorts & Casinos industry.

( Industry Median: 2.75 vs. MPEL: 0.43 )
Ranked among companies with meaningful Yield on cost (5-Year) only.
MPEL' s Yield on cost (5-Year) Range Over the Past 10 Years
Min: 0.35  Med: 0.92 Max: 1.73
Current: 0.43
0.35
1.73
3-Year Average Share Buyback Ratio 0.60
MPEL's 3-Year Average Share Buyback Ratio is ranked higher than
82% of the 457 Companies
in the Global Resorts & Casinos industry.

( Industry Median: -1.60 vs. MPEL: 0.60 )
Ranked among companies with meaningful 3-Year Average Share Buyback Ratio only.
MPEL' s 3-Year Average Share Buyback Ratio Range Over the Past 10 Years
Min: -36.2  Med: -2.80 Max: 0
Current: 0.6
-36.2
0

Valuation & Return

vs
industry
vs
history
Price/Tangible Book 2.72
MPEL's Price/Tangible Book is ranked lower than
64% of the 720 Companies
in the Global Resorts & Casinos industry.

( Industry Median: 1.78 vs. MPEL: 2.72 )
Ranked among companies with meaningful Price/Tangible Book only.
MPEL' s Price/Tangible Book Range Over the Past 10 Years
Min: 0.74  Med: 3.49 Max: 8
Current: 2.72
0.74
8
Price/Projected FCF 2.39
MPEL's Price/Projected FCF is ranked lower than
72% of the 335 Companies
in the Global Resorts & Casinos industry.

( Industry Median: 1.38 vs. MPEL: 2.39 )
Ranked among companies with meaningful Price/Projected FCF only.
MPEL' s Price/Projected FCF Range Over the Past 10 Years
Min: 1.67  Med: 3.04 Max: 6.41
Current: 2.39
1.67
6.41
Price/Median PS Value 0.88
MPEL's Price/Median PS Value is ranked higher than
67% of the 698 Companies
in the Global Resorts & Casinos industry.

( Industry Median: 1.01 vs. MPEL: 0.88 )
Ranked among companies with meaningful Price/Median PS Value only.
MPEL' s Price/Median PS Value Range Over the Past 10 Years
Min: 0.41  Med: 0.96 Max: 59.06
Current: 0.88
0.41
59.06
Price/Peter Lynch Fair Value 10.99
MPEL's Price/Peter Lynch Fair Value is ranked lower than
97% of the 149 Companies
in the Global Resorts & Casinos industry.

( Industry Median: 1.68 vs. MPEL: 10.99 )
Ranked among companies with meaningful Price/Peter Lynch Fair Value only.
MPEL' s Price/Peter Lynch Fair Value Range Over the Past 10 Years
Min: 0.7  Med: 6.40 Max: 12.09
Current: 10.99
0.7
12.09
Price/Graham Number 3.12
MPEL's Price/Graham Number is ranked lower than
79% of the 538 Companies
in the Global Resorts & Casinos industry.

( Industry Median: 1.36 vs. MPEL: 3.12 )
Ranked among companies with meaningful Price/Graham Number only.
MPEL' s Price/Graham Number Range Over the Past 10 Years
Min: 1.77  Med: 2.28 Max: 3.48
Current: 3.12
1.77
3.48
Earnings Yield (Greenblatt) (%) 0.52
MPEL's Earnings Yield (Greenblatt) (%) is ranked lower than
73% of the 836 Companies
in the Global Resorts & Casinos industry.

( Industry Median: 4.30 vs. MPEL: 0.52 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) (%) only.
MPEL' s Earnings Yield (Greenblatt) (%) Range Over the Past 10 Years
Min: 0.5  Med: 3.40 Max: 7.7
Current: 0.52
0.5
7.7
Forward Rate of Return (Yacktman) (%) 7.31
MPEL's Forward Rate of Return (Yacktman) (%) is ranked lower than
54% of the 375 Companies
in the Global Resorts & Casinos industry.

( Industry Median: 8.93 vs. MPEL: 7.31 )
Ranked among companies with meaningful Forward Rate of Return (Yacktman) (%) only.
MPEL' s Forward Rate of Return (Yacktman) (%) Range Over the Past 10 Years
Min: -94.8  Med: -4.10 Max: 62.1
Current: 7.31
-94.8
62.1

More Statistics

Revenue(Mil) $3975
EPS $ 0.19
Beta2.04
Short Percentage of Float2.09%
52-Week Range $12.05 - 24.00
Shares Outstanding(Mil)543.64

Analyst Estimate

Dec16 Dec17 Dec18
Revenue(Mil) 4,733 4,796 5,360
EPS($) 0.60 0.52 1.00
EPS without NRI($) 0.60 0.52 1.00

Business Description

Industry: Travel & Leisure » Resorts & Casinos
Compare:HKSE:01128, SGX:G13, XKRX:035250, ASX:CWN, XKLS:4715, BER:M04 » details
Traded in other countries:MAS.Germany, 06883.Hongkong,
Melco Crown Entertainment Ltd was incorporated under the name of Melco PBL Entertainment (Macau) Limited on December 17, 2004. It completed its initial public offering in December 2006. The Company is a through its subsidiary Melco Crown Macau, develops, owns and operates casino gaming and entertainment resort facilities. Its subsidiary Melco Crown Macau is one of six companies licensed, through concessions or subconcessions, to operate casinos in Macau. It has two casinos based operations, namely, City of Dreams and Altira Macau, and non-casino based operations at its Mocha Clubs. Its operations cater to a spectrum of gaming patrons, from high-stakes rolling chip gaming patrons to gaming patrons seeking a broader entertainment experience. It owns and operates two 'Forbes Five Star' hotels in Macau: Altira Macau and the Crown Towers hotel. The Company's competitors in Macau and elsewhere in Asia include all the current concession and subconcession holders and many of the gaming, hospitality, leisure and property development companies in the world. The Company is subject to the Foreign Corrupt Practices Act.
» More Articles for MPEL

Headlines

Articles On GuruFocus.com
Is Now a Good Time to Bet on Macau Gaming Revenue Ramp? Mar 09 2016 
Longleaf Partners Comments on Melco Feb 15 2016 
Longleaf Partners International Fund's Shareholder Letter Jan 25 2016 
A 4% Yielder Down 50% Apr 22 2015 
Mason Hawkins' First-Quarter 2015 Commentary Apr 16 2015 
David Herro Comments on Melco Crown Entertainment Apr 09 2015 
David Herro's Oakmark International Fund 1Q 2015 Letter Apr 08 2015 
Herro Adds One Stake to Portfolio in Fourth Quarter Mar 02 2015 
David Herro' Biggest International Stock Buys and Ads of Q4 Feb 26 2015 
David Herro's 4 International Stock Picks of Q3 Nov 25 2014 

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