Valuation Hong Kong Exchanges and Clearing Limited

Equities

Market Closed - Hong Kong S.E. Other stock markets 08:08:04 06/02/2026 GMT			5-day change	1st Jan Change
407.60 ^HKD	-1.64%		-5.69%	-

02-06	Xiaomi bought back 750,000 class B shares for HK$26.2 mln, says HKEX filing	RE
02-06	JPMorgan Chase & Co's long position in H-shares of ZTE Corp decreases to 8.71% on Feb 3 from 9.61% - HKEX	RE

Data adjusted to current consolidation scope

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Capitalization ¹	537,449	576,163	426,739	339,171	372,776	515,169	515,169	-
Change	-	7.2%	-25.93%	-20.52%	9.91%	38.2%	0%	-
Enterprise Value (EV) ¹	379,876	395,228	244,010	329,332	358,183	403,129	370,152	298,531
Change	-	4.04%	-38.26%	34.97%	8.76%	12.55%	-8.18%	-19.35%
P/E ratio	46.8x	46x	42.4x	28.6x	28.6x	29.6x	29.4x	27.5x
PBR	11x	11.6x	8.58x	6.61x	6.92x	9.18x	8.85x	8.39x
PEG	-	5.23x	-2.2x	1.6x	2.88x	0.9x	38.68x	3.95x
Capitalization / Revenue	28x	27.5x	23.1x	16.5x	16.7x	18x	17.6x	16.8x
EV / Revenue	19.8x	18.9x	13.2x	16.1x	16x	14.1x	12.6x	9.72x
EV / EBITDA	25.9x	24.3x	18.5x	22.2x	22x	18.1x	16.5x	12.5x
EV / EBIT	28.3x	26.5x	20.8x	24.6x	24.1x	19.4x	17.8x	13.8x
EV / FCF	28.3x	35.1x	17.7x	32.5x	32.1x	37.2x	22.7x	16.5x
FCF Yield	3.53%	2.85%	5.64%	3.07%	3.12%	2.69%	4.4%	6.06%
Dividend per Share ²	8.17	8.87	7.14	8.41	9.26	12.36	12.32	13.24
Rate of return	1.92%	1.95%	2.12%	3.14%	3.14%	3.03%	3.02%	3.25%
EPS ²	9.09	9.89	7.95	9.36	10.29	13.76	13.86	14.83
Distribution rate	89.9%	89.7%	89.8%	89.9%	90%	89.8%	88.9%	89.3%
Net sales ¹	19,190	20,950	18,456	20,516	22,374	28,658	29,270	30,713
EBITDA ¹	14,641	16,269	13,185	14,828	16,281	22,255	22,384	23,933
EBIT ¹	13,444	14,915	11,726	13,385	14,879	20,792	20,779	21,711
Net income ¹	11,505	12,535	10,078	11,862	13,050	17,443	17,609	18,863
Net Debt ¹	-157,573	-180,935	-182,729	-9,839	-14,593	-112,040	-145,017	-216,638
Reference price ²	425.00	455.40	337.20	268.00	294.80	407.60	407.60	407.60
Nbr of stocks (in thousands)	1,264,586	1,265,179	1,265,538	1,265,563	1,264,506	1,263,907	1,263,907	-
Announcement Date	24/02/21	24/02/22	23/02/23	29/02/24	27/02/25	-	-	-

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	29.62x	14.07x	18.11x	3.03%	65.93B
INTERCONTINENTAL EXCHANGE, INC.	27.07x	10.26x	15.37x	1.24%	95.97B
LONDON STOCK EXCHANGE GROUP PLC	35.13x	4.85x	9.96x	1.9%	51.6B
NASDAQ, INC.	29.5x	11.1x	19.1x	1.23%	48.44B
DEUTSCHE BÖRSE AG	19.65x	7.23x	12.38x	1.98%	46.44B
B3 S.A. - BRASIL, BOLSA, BALCÃO	17.49x	8.66x	12.44x	4.57%	16.75B
SINGAPORE EXCHANGE LIMITED	27.18x	12.09x	19.6x	2.54%	14.79B
EURONEXT N.V.	18.06x	7.21x	11.52x	2.74%	13.81B
TMX GROUP LIMITED	26.25x	8.4x	15.15x	1.85%	9.26B
SWISSQUOTE GROUP HOLDING SA	18.57x	-2.52x	-4.24x	1.57%	8.17B
Average	24.85x	8.13x	12.94x	2.27%	37.12B
Weighted average by Cap.	27.06x	9.47x	14.67x	2.02%