CK HUTCHISON HOLDINGS LIMITED |
Delayed
Other stock markets
|
5-day change | 1st Jan Change | ||
| 38.9 HKD | +0.65% |
|
+5.14% | -7.05% |
| 29/04 | CK Hutchison Unit Files for Singapore Listing of $2 Billion Bonds | MT |
| 24/04 | CK Hutchison International raises $2 billion in bonds, term sheet says | RE |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 2,86,519 | 2,08,623 | 1,92,882 | 1,79,438 | 1,60,287 | 1,48,031 | - | - |
| Enterprise Value (EV) 1 | 4,89,167 | 3,93,726 | 3,61,051 | 3,28,246 | 2,92,097 | 2,84,923 | 2,61,723 | 2,60,483 |
| P/E ratio | 7.19 x | 7.16 x | 5.78 x | 4.9 x | 6.82 x | 5.61 x | 4.97 x | 4.84 x |
| Yield | 4.27% | 4.28% | 5.29% | 6.25% | 6.05% | 6.79% | 7.83% | 8.66% |
| Capitalization / Revenue | 0.65 x | 0.52 x | 0.43 x | 0.39 x | 0.35 x | 0.35 x | 0.34 x | 0.36 x |
| EV / Revenue | 1.11 x | 0.97 x | 0.81 x | 0.72 x | 0.63 x | 0.67 x | 0.6 x | 0.63 x |
| EV / EBITDA | 5 x | 3.22 x | 2.66 x | 2.31 x | 2.29 x | 5.15 x | 4.41 x | 4.28 x |
| EV / FCF | 14.9 x | 8.55 x | 28.8 x | 10.6 x | 11.2 x | 7.83 x | 5.83 x | - |
| FCF Yield | 6.72% | 11.7% | 3.47% | 9.4% | 8.95% | 12.8% | 17.1% | - |
| Price to Book | 0.62 x | 0.42 x | 0.37 x | 0.16 x | 0.29 x | 0.26 x | 0.24 x | 0.24 x |
| Nbr of stocks (in thousands) | 38,56,241 | 38,56,241 | 38,34,635 | 38,30,045 | 38,30,045 | 38,30,044 | - | - |
| Reference price 2 | 74.30 | 54.10 | 50.30 | 46.85 | 41.85 | 38.65 | 38.65 | 38.65 |
| Announcement Date | 19/03/20 | 18/03/21 | 17/03/22 | 16/03/23 | 21/03/24 | - | - | - |
1HKD in Million2HKD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 4,39,856 | 4,03,846 | 4,45,383 | 4,57,229 | 4,61,558 | 4,26,164 | 4,39,670 | 4,11,710 |
| EBITDA 1 | 97,786 | 1,22,348 | 1,35,653 | 1,42,132 | 1,27,309 | 55,346 | 59,309 | 60,918 |
| EBIT 1 | 54,045 | 58,304 | 68,818 | 78,261 | 62,770 | 28,556 | 36,770 | 34,092 |
| Operating Margin | 12.29% | 14.44% | 15.45% | 17.12% | 13.6% | 6.7% | 8.36% | 8.28% |
| Earnings before Tax (EBT) 1 | 55,451 | 38,713 | 49,977 | 59,863 | 38,570 | 41,092 | 43,248 | 42,254 |
| Net income 1 | 39,888 | 29,143 | 33,484 | 36,680 | 23,500 | 26,416 | 29,729 | 30,437 |
| Net margin | 9.07% | 7.22% | 7.52% | 8.02% | 5.09% | 6.2% | 6.76% | 7.39% |
| EPS 2 | 10.33 | 7.560 | 8.700 | 9.570 | 6.140 | 6.896 | 7.777 | 7.987 |
| Free Cash Flow 1 | 32,884 | 46,067 | 12,541 | 30,862 | 26,136 | 36,403 | 44,865 | - |
| FCF margin | 7.48% | 11.41% | 2.82% | 6.75% | 5.66% | 8.54% | 10.2% | - |
| FCF Conversion (EBITDA) | 33.63% | 37.65% | 9.24% | 21.71% | 20.53% | 65.77% | 75.65% | - |
| FCF Conversion (Net income) | 82.44% | 158.07% | 37.45% | 84.14% | 111.22% | 137.81% | 150.91% | - |
| Dividend per Share 2 | 3.170 | 2.314 | 2.660 | 2.926 | 2.531 | 2.624 | 3.027 | 3.346 |
| Announcement Date | 19/03/20 | 18/03/21 | 17/03/22 | 16/03/23 | 21/03/24 | - | - | - |
1HKD in Million2HKD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2019 S2 | 2020 S1 | 2020 S2 | 2021 S1 | 2021 S2 | 2022 S1 | 2022 S2 | 2023 S1 | 2023 S2 | 2024 S1 | 2024 S2 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales | 2,22,794 | - | - | - | - | - | - | - | - | - | - |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | - | - | - | - | - | 18,420 | 59,841 | 29,613 | 33,157 | 13,993 | 14,564 |
| Operating Margin | - | - | - | - | - | - | - | - | - | - | - |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - | - | - | - |
| Net income | - | - | - | - | - | - | - | - | - | - | - |
| Net margin | - | - | - | - | - | - | - | - | - | - | - |
| EPS 2 | 5.580 | 3.370 | 4.190 | 4.750 | 3.950 | 4.980 | 4.590 | 2.930 | 3.210 | 3.410 | 3.550 |
| Dividend per Share | - | - | - | 0.8000 | - | - | - | - | - | - | - |
| Announcement Date | 19/03/20 | 20/08/20 | 18/03/21 | 05/08/21 | 17/03/22 | 04/08/22 | 16/03/23 | 03/08/23 | 21/03/24 | - | - |
1HKD in Million2HKD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 2,02,648 | 1,85,103 | 1,68,169 | 1,48,808 | 1,31,810 | 1,36,892 | 1,13,692 | 1,12,452 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 2.072 x | 1.513 x | 1.24 x | 1.047 x | 1.035 x | 2.473 x | 1.917 x | 1.846 x |
| Free Cash Flow 1 | 32,884 | 46,067 | 12,541 | 30,862 | 26,136 | 36,403 | 44,865 | - |
| ROE (net income / shareholders' equity) | 8.76% | 6.08% | 6.49% | 6.96% | 4.37% | 4.67% | 5.3% | 4.92% |
| ROA (Net income/ Total Assets) | 3.27% | 2.36% | 2.71% | 3.11% | 2.04% | 4.45% | 3.38% | 2.4% |
| Assets 1 | 12,21,610 | 12,32,783 | 12,34,069 | 11,80,978 | 11,53,657 | 5,93,153 | 8,80,816 | 12,68,202 |
| Book Value Per Share 2 | 120.0 | 128.0 | 137.0 | 300.0 | 143.0 | 146.0 | 158.0 | 162.0 |
| Cash Flow per Share 2 | 18.00 | 19.00 | 13.60 | 14.80 | 13.40 | 15.70 | 16.10 | 16.20 |
| Capex 1 | 36,386 | 27,104 | 39,643 | 25,852 | 25,301 | 26,849 | 24,645 | 30,102 |
| Capex / Sales | 8.27% | 6.71% | 8.9% | 5.65% | 5.48% | 6.3% | 5.61% | 7.31% |
| Announcement Date | 19/03/20 | 18/03/21 | 17/03/22 | 16/03/23 | 21/03/24 | - | - | - |
1HKD in Million2HKD
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B+
Sell
Buy
Mean consensus
BUY
Number of Analysts
6
Last Close Price
38.65
HKD
Average target price
57.72
HKD
Spread / Average Target
+49.33%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -7.05% | 18.71B | |
| -16.32% | 19.48B | |
| +7.46% | 10.35B | |
| +19.07% | 9.97B | |
| +737.50% | 2.44B | |
| -2.98% | 1.67B | |
| -10.42% | 1.54B | |
| -53.38% | 623M | |
| +95.44% | 327M | |
| -21.78% | 313M |
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- Financials CK Hutchison Holdings Limited
