Valuation Hong Kong Exchanges and Clearing Limited

Equities

Market Closed - Hong Kong S.E. Other stock markets 09:08:12 13/05/2026 BST			5-day change	1st Jan Change
423.80 ^HKD	0.00%		+1.34%	+3.97%

05-13	LME reappoint John Williamson as board chairman	RE
05-07	Hong Kong bourse proposes to revive gold futures as volatility grips market	RE

Data adjusted to current consolidation scope

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Capitalization ¹	576,163	426,739	339,171	372,776	515,169	535,702	-	-
Change	-	-25.93%	-20.52%	9.91%	38.2%	3.99%	-	-
Enterprise Value (EV) ¹	395,228	244,010	329,332	358,183	332,843	506,955	506,843	500,104
Change	-	-38.26%	34.97%	8.76%	-7.07%	52.31%	-0.02%	-1.33%
P/E ratio	46x	42.4x	28.6x	28.6x	29.1x	28x	27.1x	25.8x
PBR	11.6x	8.58x	6.61x	6.92x	8.89x	8.92x	8.58x	8.12x
PEG	-	-2.2x	1.6x	2.88x	0.8x	3.47x	8x	5.36x
Capitalization / Revenue	27.5x	23.1x	16.5x	16.7x	17.7x	17.3x	16.7x	15.9x
EV / Revenue	18.9x	13.2x	16.1x	16x	11.4x	16.4x	15.8x	14.8x
EV / EBITDA	24.3x	18.5x	22.2x	22x	14.6x	20.8x	20.3x	19.1x
EV / EBIT	26.5x	20.8x	24.6x	24.1x	15.7x	22.3x	21.9x	20.9x
EV / FCF	35.1x	17.7x	32.5x	32.1x	16x	29.6x	31x	28.9x
FCF Yield	2.85%	5.64%	3.07%	3.12%	6.23%	3.37%	3.22%	3.45%
Dividend per Share ²	8.87	7.14	8.41	9.26	12.52	13.5	13.87	14.62
Rate of return	1.95%	2.12%	3.14%	3.14%	3.07%	3.19%	3.27%	3.45%
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%	89.2%	88.6%	89.1%
Net sales ¹	20,950	18,456	20,516	22,374	29,161	30,925	32,165	33,732
EBITDA ¹	16,269	13,185	14,828	16,281	22,796	24,315	24,985	26,175
EBIT ¹	14,915	11,726	13,385	14,879	21,228	22,735	23,136	23,926
Net income ¹	12,535	10,078	11,862	13,050	17,754	19,222	19,915	20,933
Net Debt ¹	-180,935	-182,729	-9,839	-14,593	-182,326	-28,747	-28,858	-35,597
Reference price ²	455.40	337.20	268.00	294.80	407.60	423.80	423.80	423.80
Nbr of stocks (in thousands)	1,265,179	1,265,538	1,265,563	1,264,506	1,263,907	1,264,044	-	-
Announcement Date	24/02/22	23/02/23	29/02/24	27/02/25	26/02/26	-	-	-

¹HKD in Million²HKD

Estimates

Add to a list 0 selected To use this feature you must be a member Log in Sign up	P/E (Y)	EV / Sales (Y)	EV / EBITDA (Y)	Dividend Yield (Y)	Capi.($)
HONG KONG EXCHANGES AND CLEARING LIMITED	27.99x	16.39x	20.85x	3.19%	68.43B
INTERCONTINENTAL EXCHANGE, INC.	21.93x	9.71x	14.39x	1.36%	88.26B
LONDON STOCK EXCHANGE GROUP PLC	35.45x	5.51x	10.97x	1.78%	61.93B
DEUTSCHE BÖRSE AG	20.53x	7.7x	12.9x	1.85%	53.34B
NASDAQ, INC.	26.76x	10.14x	17.23x	1.32%	50.61B
SINGAPORE EXCHANGE LIMITED	31.74x	14.83x	23.51x	2.12%	17.73B
EURONEXT N.V.	20.03x	7.84x	12.62x	2.49%	16.86B
TMX GROUP LIMITED	24.61x	8.54x	15.29x	1.77%	10.96B
SWISSQUOTE GROUP HOLDING SA	17.34x	-3.15x	-5.36x	1.76%	7.44B
Average	25.15x	8.61x	13.60x	1.96%	41.73B
Weighted average by Cap.	26.08x	9.88x	15.16x	1.93%