Valuation Hong Kong Exchanges and Clearing Limited
Stocks
388
HK0388045442
Financial & Commodity Market Operators
|
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 374.00 HKD | -2.35% |
|
-8.65% | -8.24% |
| 05/06 | Hong Kong Exchanges and Clearing Limited Appoints Gordon Orr as A Non-Executive Director | CI |
| 01/06 | Hkex says Tencent bought back 1.1 mln shares for HK$500.7 million | RE |
Company Valuation: Hong Kong Exchanges and Clearing Limited
Data adjusted to current consolidation scope
| Fiscal Period: December | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|---|---|---|
| Market Cap 1 | 5,76,163 | 4,26,739 | 3,39,171 | 3,72,776 | 5,15,169 | 4,72,752 | - | - |
| Change | - | -25.93% | -20.52% | 9.91% | 38.2% | -8.23% | - | - |
| Enterprise Value (EV) 1 | 3,95,228 | 2,44,010 | 3,29,332 | 3,58,183 | 3,32,843 | 4,44,005 | 4,43,894 | 4,37,155 |
| Change | - | -38.26% | 34.97% | 8.76% | -7.07% | 33.4% | -0.03% | -1.52% |
| P/E Ratio | 46x | 42.4x | 28.6x | 28.6x | 29.1x | 24.7x | 23.9x | 22.8x |
| PBR | 11.6x | 8.58x | 6.61x | 6.92x | 8.89x | 7.87x | 7.57x | 7.17x |
| PEG | - | -2.2x | 1.6x | 2.88x | 0.8x | 3.06x | 7.05x | 4.74x |
| Capitalization / Revenue | 27.5x | 23.1x | 16.5x | 16.7x | 17.7x | 15.2x | 14.7x | 14x |
| EV / Revenue | 18.9x | 13.2x | 16.1x | 16x | 11.4x | 14.3x | 13.8x | 12.9x |
| EV / EBITDA | 24.3x | 18.5x | 22.2x | 22x | 14.6x | 18.2x | 17.7x | 16.6x |
| EV / EBIT | 26.5x | 20.8x | 24.6x | 24.1x | 15.7x | 19.4x | 19.1x | 18.1x |
| EV / FCF | 35.1x | 17.7x | 32.5x | 32.1x | 16x | 26x | 27.2x | 25.3x |
| FCF Yield | 2.85% | 5.64% | 3.07% | 3.12% | 6.23% | 3.85% | 3.68% | 3.95% |
| Dividend per Share 2 | 8.87 | 7.14 | 8.41 | 9.26 | 12.52 | 13.56 | 13.92 | 14.69 |
| Rate of return | 1.95% | 2.12% | 3.14% | 3.14% | 3.07% | 3.62% | 3.72% | 3.93% |
| EPS 2 | 9.89 | 7.95 | 9.36 | 10.29 | 14.01 | 15.14 | 15.65 | 16.41 |
| Distribution rate | 89.7% | 89.8% | 89.9% | 90% | 89.4% | 89.5% | 88.9% | 89.5% |
| Net sales 1 | 20,950 | 18,456 | 20,516 | 22,374 | 29,161 | 31,019 | 32,248 | 33,861 |
| EBITDA 1 | 16,269 | 13,185 | 14,828 | 16,281 | 22,796 | 24,408 | 25,069 | 26,304 |
| EBIT 1 | 14,915 | 11,726 | 13,385 | 14,879 | 21,228 | 22,844 | 23,233 | 24,087 |
| Net income 1 | 12,535 | 10,078 | 11,862 | 13,050 | 17,754 | 19,222 | 19,915 | 20,933 |
| Net Debt 1 | -1,80,935 | -1,82,729 | -9,839 | -14,593 | -1,82,326 | -28,747 | -28,858 | -35,597 |
| Reference price 2 | 455.40 | 337.20 | 268.00 | 294.80 | 407.60 | 374.00 | 374.00 | 374.00 |
| Nbr of stocks (in thousands) | 12,65,179 | 12,65,538 | 12,65,563 | 12,64,506 | 12,63,907 | 12,64,044 | - | - |
| Announcement Date | 24/02/22 | 23/02/23 | 29/02/24 | 27/02/25 | 26/02/26 | - | - | - |
1HKD in Million2HKD
Estimates
P/E Ratio, Detailed evolution
| P/E (Y) | EV / Sales (Y) | EV / EBITDA (Y) | Dividend Yield (Y) | Capi.($) | ||
|---|---|---|---|---|---|---|
 | 25.3x | 14.68x | 18.66x | 3.54% | 6.18TCr | |
| 19.73x | 8.91x | 13.21x | 1.51% | 7.95TCr | |
| 34.16x | 5.35x | 10.68x | 1.85% | 5.88TCr | |
| 20.26x | 7.62x | 12.77x | 1.87% | 5.19TCr | |
| 25.93x | 9.87x | 16.77x | 1.37% | 4.9TCr | |
| 32.27x | 15.2x | 24.04x | 2.06% | 1.8TCr | |
| 20.21x | 7.87x | 12.66x | 2.45% | 1.69TCr | |
| 13.25x | 6.55x | 9.31x | 7.9% | 1.47TCr | |
| 22.74x | 7.96x | 14.21x | 1.92% | 997.8Cr | |
| 16.86x | -5.34x | -9.16x | 1.8% | 709.68Cr | |
| Average | 23.07x | 7.87x | 12.31x | 2.63% | 3.68TCr | |
| Weighted average by Cap. | 24.28x | 9.12x | 14.08x | 2.28% |
Y-o-Y evolution of P/E
Historical PBR trend
Evolution Enterprise Value / Sales
Change in Enterprise Value/EBITDA
Year-on-year evolution of the Yield
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