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CK Hutchison Holdings
(OTC:CKHUY)
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Rating:71Outperform
Price Target:
$10.00
â–²(12.11% Upside)
Action:Reiterated
Date:08/18/26
The score is driven primarily by solid financial stability (strong balance sheet and consistent cash generation) and attractive valuation (low P/E with a moderate dividend). These positives are tempered by weaker recent profitability trends in the financial statements and subdued near-term technical momentum. Earnings-call commentary adds support via strong liquidity and guidance, but flags FX-driven growth, softer underlying free cash flow, and segment/legal risks.
Positive Factors
Strong Balance Sheet
The sharply reduced leverage and HKD187bn liquidity provide substantial financial flexibility. This strengthens resilience across cyclical segments, supports continued investment and gives management capacity to deploy capital prudently.
Negative Factors
Weak Profitability Trend
Recent earnings momentum is weaker than the group’s scale and diversification might suggest. Choppy revenue and declining net income could constrain internally generated capital and reduce the ability to convert growth into durable returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Balance Sheet
The sharply reduced leverage and HKD187bn liquidity provide substantial financial flexibility. This strengthens resilience across cyclical segments, supports continued investment and gives management capacity to deploy capital prudently.
Read all positive factors
CK Hutchison Holdings (CKHUY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$34.13B
Dividend Yield3.31%
Average Volume (3M)43.56K
Price to Earnings (P/E)7.1
Beta (1Y)0.13
Revenue Growth-2.61%
EPS Growth386.77%
CountryUS
Employees300,000
SectorIndustrials
Sector Strength72
IndustryConglomerates
Share Statistics
EPS (TTM)9.88
Shares Outstanding3,830,044,400
10 Day Avg. Volume65,039
30 Day Avg. Volume43,560
Financial Highlights & Ratios
PEG Ratio-0.56
Price to Book (P/B)0.36
Price to Sales (P/S)0.72
P/FCF Ratio4.63
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.84
Revenue Forecast (FY)$41.97B
CK Hutchison Holdings Business Overview & Revenue Model
Company Description
CK Hutchison Holdings Limited, an investment holding company headquartered in Central, Hong Kong, has been operating since its establishment in 1828. This diverse conglomerate maintains a global presence through its core operations in ports and ma...
How the Company Makes Money
CK Hutchison makes money through a multi-segment model in which earnings are generated by operating subsidiaries and investments across several industries.
1) Ports and Related Services: The group earns revenue by operating container terminals an...
CK Hutchison Holdings Earnings Call Summary
Earnings Call Date:Aug 13, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Mar 18, 2027
Earnings Call Sentiment Positive
The call presented a generally positive financial and strategic picture: solid revenue and earnings growth, a very strong balance sheet with pro forma net leverage falling to low single digits after major disposals, resilient retail and ports performance when adjusting for one-off events, and strong contributions from investments like Cenovus and IOH. However, management highlighted that a substantial portion of the headline growth was FX-driven, operating free cash flow was weaker on an underlying basis (partly due to deliberate equity investments and timing differences), and the telecoms business and the Panama expropriation are notable areas of concern. On balance, the positives — especially the strengthened balance sheet, healthy divisional performance excluding one-offs, and high-quality financial-investment contributions — outweigh the pockets of operational weakness and one-off effects.Positive Updates
Underlying Revenue Growth
Group reported 7% underlying revenue growth for the first half; management noted ~4 percentage points of that growth were due to favorable foreign exchange translation (i.e., FX tailwind materially boosted the headline revenue growth).
Negative Updates
FX Tailwind Masks Underlying Performance
Management emphasized that a large portion of reported revenue and EBITDA growth was driven by favorable FX translation (e.g., ~4ppt of revenue growth and about two-thirds of EBITDA growth from FX), meaning organic operational growth is significantly lower than headline figures.
Read all updates
Q2-2026 Updates
Positive
Negative
Underlying Revenue Growth
Group reported 7% underlying revenue growth for the first half; management noted ~4 percentage points of that growth were due to favorable foreign exchange translation (i.e., FX tailwind materially boosted the headline revenue growth).
Read all positive updates
Company Guidance
Management guided that H1 underlying revenue rose c.7% while net earnings grew ~6% pre‑IFRS16 (7% post), with a comparable H1‑2025 underlying EBITDA of HKD53.4bn moving to a reported HKD79.65bn (HKD92.9bn post‑IFRS16); operating/free cash flow was HKD7.705bn (down from HKD10.697bn) but would have tracked EBITDA growth after excluding HKD3.7bn of associate/JV investments, and reported free cash flow including disposals was HKD58.3bn (+88% YoY.); balance‑sheet metrics remain very strong with liquidity ~HKD187bn, net debt ~HKD64bn (net‑debt/total capital 8.1% at June, pro‑forma net debt under HKD20bn and net‑debt/total capital ~2.5% after GBP4.3bn/≈HKD45bn VodafoneThree proceeds), average cost of debt 3.3% (63% fixed, 61% bonds/notes); divisional guidance included Ports throughput 43.6m TEU (‑1% H1, +3% ex‑Panama) with H1 reported EBITDA HKD9.03bn (underlying HKD8.69bn) and expected FY earnings growth, Retail revenue/EBITDA/EBIT +9% reported (+5% local) with 17,042 stores and 183m loyalty members and a return to modest full‑year growth and positive net store openings, Infrastructure raised its dividend ~3% to HKD0.75, Telecoms faces near‑term pressure but targets cost reductions and AI‑driven productivity gains, and management will take a prudent, long‑term approach to deploying excess capital with more specific plans to be announced at full‑year results.CK Hutchison Holdings Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
76
Positive
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 277.09B | 279.56B | 281.35B | 275.57B | 262.50B | 280.85B |
| Gross Profit | 45.50B | 52.19B | 144.77B | 165.68B | 131.09B | 150.43B |
| EBITDA | 57.02B | 77.14B | 82.20B | 49.33B | 47.38B | 98.17B |
| Net Income | 37.77B | 11.82B | 17.09B | 23.50B | 36.68B | 33.48B |
Balance Sheet | ||||||
| Total Assets | 1.15T | 1.16T | 1.11T | 1.16T | 1.15T | 1.21T |
| Cash, Cash Equivalents and Short-Term Investments | 179.34B | 143.73B | 121.30B | 127.32B | 138.09B | 153.13B |
| Total Debt | 316.99B | 334.61B | 324.73B | 343.53B | 353.42B | 412.16B |
| Total Liabilities | 444.87B | 467.24B | 459.95B | 488.35B | 501.13B | 569.27B |
| Stockholders Equity | 578.48B | 562.72B | 534.72B | 548.60B | 528.07B | 525.57B |
Cash Flow | ||||||
| Free Cash Flow | 47.23B | 43.75B | 31.88B | 26.14B | 30.86B | 12.54B |
| Operating Cash Flow | 64.49B | 62.46B | 54.23B | 51.44B | 56.71B | 52.18B |
| Investing Cash Flow | 18.76B | -6.10B | -19.90B | -15.41B | -4.36B | -550.00M |
| Financing Cash Flow | -33.53B | -33.96B | -40.35B | -46.78B | -67.41B | -54.45B |
CK Hutchison Holdings Technical Analysis
Positive
8.92
Price Trends
8.95
Negative
8.80
Positive
8.13
Positive
Market Momentum
-0.05
Positive
46.99
Neutral
23.73
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CKHUY, the sentiment is Positive. The current price of 8.92 is below the 20-day moving average (MA) of 8.98, below the 50-day MA of 8.95, and above the 200-day MA of 8.13, indicating a neutral trend. The MACD of -0.05 indicates Positive momentum. The RSI at 46.99 is Neutral, neither overbought nor oversold. The STOCH value of 23.73 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CKHUY.
CK Hutchison Holdings Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | $34.13B | 7.08 | 6.62% | 3.31% | -2.61% | 386.77% | |
71 Outperform | $4.14B | 6.53 | 12.09% | 0.21% | 8.17% | 361.79% | |
66 Neutral | $3.77B | 19.27 | 10.43% | 2.51% | 0.27% | -31.92% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
55 Neutral | $878.00M | -5.64 | -21.01% | 214.04% | 8.37% | 51.01% | |
52 Neutral | $403.00M | -0.66 | -51.47% | 3.52% | 73.46% | -259.87% | |
47 Neutral | $5.74B | -4.05 | -18.05% | 0.89% | 97.51% | 34.53% |
* Industrials Sector Average
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.