Hong Kong Exchanges and Clearing Ltd

Chart & Performance

D1W1MN

P/E

36.74

P/S

28.22

EPS

9.39

Div Yield, %

2.40%

Shrs. gr., 5y

0.37%

Rev. gr., 5y

1.62%

Revenues

15.45b

-8.79%

Net income

11.86b

+17.70%

CFO

11.50b

-23.11%

Dividend

Sep 03, 20244.36 HKD/sh

Earnings

Apr 22, 2025

Profile

Hong Kong Exchanges and Clearing Limited, together with its subsidiaries, owns and operates stock exchanges and futures exchanges, and related clearing houses in Hong Kong, Mainland China, and the United Kingdom. It operates through five segments: Cash, Equity and Financial Derivatives, Commodities, Post Trade, and Technology. The Cash segment covers various equity products traded on the cash market platforms of the Stock Exchange of Hong Kong Limited, the Shanghai Stock Exchange, and the Shenzhen Stock Exchange; sale of market data relating to the products; and other related activities. The Equity and Financial Derivatives segment provides and maintains trading platforms for a range of equity and financial derivative products, such as stock and equity index futures and options, derivative warrants, and callable bull/bear contracts and warrants, as well as sells related market data. The Commodities segment operates an exchange for the trading of base, ferrous, and precious metals futures and options contracts in the United Kingdom; and operates Qianhai Mercantile Exchange Co., Ltd., a commodity trading platform in the Mainland. This segment also covers commodities contracts traded on Futures Exchange. The Post Trade segment operates clearing houses that are responsible for clearing, settlement, depository, custodian, and nominee services. The Technology segment offers various services that provide users with access to the platform and infrastructure. The company serves issuers and investors. Hong Kong Exchanges and Clearing Limited is based in Central, Hong Kong.

URL

https://www.hkexgroup.com/

IPO date

Jun 27, 2000

Employees

2,305

Domiciled in

Incorporated in

Valuation

Order:

Title HKD in thousands, except ratios and share amounts	FY	FY	FY	FY	FY	FY	FY	FY	FY
Title HKD in thousands, except ratios and share amounts	2023‑12	2022‑12	2021‑12	2020‑12	2019‑12	2018‑12	2017‑12	2016‑12	2015‑12
Income
Revenues	15,445,000 -8.79%	16,934,000 -13.03%
Cost of revenue	4,432,000	4,067,000
Unusual Expense (Income)
NOPBT	11,013,000	12,867,000
NOPBT Margin	71.30%	75.98%
Operating Taxes	1,351,000	1,564,000
Tax Rate	12.27%	12.16%
NOPAT	9,662,000	11,303,000
Net income	11,862,000 17.70%	10,078,000 -19.60%
Dividends	(10,316,000)	(9,665,000)
Dividend yield	3.04%	2.26%
Proceeds from repurchase of equity	(448,000)	(700,000)
BB yield	0.13%	0.16%
Debt
Debt current	270,000	297,000
Long-term debt	2,938,000	3,193,000
Deferred revenue	307,000	333,000
Other long-term liabilities	178,000	151,000
Net debt	(279,969,000)	(182,762,000)
Cash flow
Cash from operating activities	11,500,000	14,956,000
CAPEX	(1,386,000)	(1,284,000)
Cash from investing activities	(6,290,000)	(1,700,000)
Cash from financing activities	(11,250,000)	(10,373,000)
FCF	9,871,000	(327,095,000)
Balance
Cash	224,698,000	276,389,000
Long term investments	58,479,000	(90,137,000)
Excess cash	282,404,750	185,405,300
Stockholders' equity	52,805,000	69,564,000
Invested Capital	1,080,000	(20,108,000)
ROIC
ROCE	20.05%	25.47%
EV
Common stock shares outstanding	1,267,809	1,267,724
Price	267.60 -20.64%	337.20 -25.96%
Market cap	339,265,688 -20.64%	427,476,533 -25.95%
EV	59,748,688	263,632,533
EBITDA	12,456,000	14,326,000
EV/EBITDA	4.80	18.40
Interest	6,095,000	2,358,000
Interest/NOPBT	55.34%	18.33%