Studio City International Holdings Limited (MSC)

MSC Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue	694.57	639.15	445.54	11.55	106.87
Revenue Growth (YoY)	8.67%	43.45%	3758.14%	-89.19%	117.18%
Cost of Revenue	226.63	222.84	171.12	72.96	76.22
Gross Profit	467.94	416.3	274.42	-61.41	30.65
Selling, General & Admin	186.7	174.59	118.51	83.09	90.9
Other Operating Expenses	1.99	0.22	1.41	5.8	4.53
Operating Expenses	397.9	377.36	303.46	215.8	220.73
Operating Income	70.04	38.95	-29.04	-277.22	-190.07
Interest Expense	-126.27	-133.59	-129.57	-92.36	-90.97
Interest & Investment Income	0.91	4.06	10.68	6.43	3.06
Currency Exchange Gain (Loss)	0.46	-5.5	0.64	2.39	6.26
Other Non Operating Income (Expenses)	-1.84	-0.59	-0.48	-0.17	-0.42
EBT Excluding Unusual Items	-56.69	-96.68	-147.78	-360.93	-272.14
Gain (Loss) on Sale of Assets	-	-0.8	-	-	-
Asset Writedown	-	-	-	-	-1.5
Other Unusual Items	-	-1	1.61	-	-28.82
Pretax Income	-56.69	-98.48	-146.17	-360.93	-302.46
Income Tax Expense	7.61	7.35	-0.08	0.38	-0.46
Earnings From Continuing Operations	-64.3	-105.83	-146.08	-361.31	-302
Minority Interest in Earnings	5.53	9.11	12.57	34.86	49.45
Net Income	-58.77	-96.73	-133.52	-326.45	-252.56
Net Income to Common	-58.77	-96.73	-133.52	-326.45	-252.56
Shares Outstanding (Basic)	193	193	193	178	93
Shares Outstanding (Diluted)	193	193	193	196	93
Shares Change (YoY)	-	-	-1.63%	111.45%	0.82%
EPS (Basic)	-0.31	-0.50	-0.69	-1.84	-2.73
EPS (Diluted)	-0.31	-0.50	-0.69	-1.84	-2.73
Free Cash Flow	-	103.14	-175.72	-630.9	-537.21
Free Cash Flow Per Share	-	0.54	-0.91	-3.22	-5.80
Gross Margin	67.37%	65.14%	61.59%	-	28.68%
Operating Margin	10.08%	6.09%	-6.52%	-2400.55%	-177.86%
Profit Margin	-8.46%	-15.13%	-29.97%	-2826.91%	-236.32%
Free Cash Flow Margin	-	16.14%	-39.44%	-5463.29%	-502.68%
EBITDA	271.78	240.69	135.69	-154.96	-67.17
EBITDA Margin	39.13%	37.66%	30.45%	-	-62.85%
D&A For EBITDA	201.74	201.74	164.73	122.26	122.91
EBIT	70.04	38.95	-29.04	-277.22	-190.07
EBIT Margin	10.08%	6.09%	-6.52%	-	-177.86%
Revenue as Reported	694.57	639.15	445.54	11.55	106.87
Advertising Expenses	-	33.17	22.67	3.69	4.98

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q