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CLP Holdings
(OTC:CLPHY)
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Rating:69Neutral
Price Target:
$10.50
â–²(6.17% Upside)
Action:Reiterated
Date:08/06/26
The score is primarily supported by solid overall financial performance (profitability recovery, manageable leverage, and positive operating cash flow). Valuation is reasonable with a ~4% dividend yield, while technicals are mixed with weaker near-term trend signals despite longer-term moving-average support. The earnings call adds modest support due to strong H1 results and maintained dividend, tempered by clear near-term market headwinds and cash outflow timing.
Positive Factors
Hong Kong regulated franchise & SoC investment
A large, regulated Hong Kong network and a committed HKD52.9bn SoC investment program underpin predictable returns and stable cash flows. Ongoing T&D CapEx supports reliability and demand growth (data center +12%), reinforcing durable regulated earnings and lower merchant exposure.
Negative Factors
Revenue and margin volatility
Swinging revenue growth and a step-down in gross margin hamper predictability of earnings and long-term cash conversion. For capital-intensive utilities, margin variability complicates investment planning, dividend coverage assessment and could increase funding needs in down cycles.
Read all positive and negative factors
Positive Factors
Negative Factors
Hong Kong regulated franchise & SoC investment
A large, regulated Hong Kong network and a committed HKD52.9bn SoC investment program underpin predictable returns and stable cash flows. Ongoing T&D CapEx supports reliability and demand growth (data center +12%), reinforcing durable regulated earnings and lower merchant exposure.
Read all positive factors
CLP Holdings (CLPHY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$25.16B
Dividend Yield3.99%
Average Volume (3M)2.11K
Price to Earnings (P/E)18.8
Beta (1Y)>-0.01
Revenue Growth-3.16%
EPS Growth-10.76%
CountryUS
Employees8,539
SectorUtilities
Sector Strength65
IndustryRegulated Electric
Share Statistics
EPS (TTM)4.12
Shares Outstanding2,526,450,700
10 Day Avg. Volume0
30 Day Avg. Volume2,108
Financial Highlights & Ratios
PEG Ratio-1.49
Price to Book (P/B)1.65
Price to Sales (P/S)2.02
P/FCF Ratio23.24
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)0.62
Revenue Forecast (FY)$11.36B
CLP Holdings Business Overview & Revenue Model
Company Description
CLP Holdings Limited functions as an investment holding company primarily focused on the electricity sector. It manages the generation, transmission, and distribution of power across an extensive geographical footprint, encompassing Hong Kong, Mai...
How the Company Makes Money
CLP Holdings primarily makes money by selling electricity. Its major revenue and earnings drivers typically include: (1) Regulated electricity supply and network returns: In markets where the utility business is regulated, CLP earns revenue from d...
CLP Holdings Earnings Call Summary
Earnings Call Date:Aug 06, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 12, 2026
Earnings Call Sentiment Positive
The call conveys a broadly positive operational and financial performance: solid year-on-year growth in key earnings metrics, strong Hong Kong regulated performance, progress on decarbonization (Jhajjar sale), capital markets access (Panda bond) and advancing transformation programs. However, material near-term headwinds persist in the Chinese Mainland (higher curtailment and tariff pressure), softer wholesale markets and intense retail competition in Australia, a safety incident requiring remediation, and timing-driven cash outflows. Overall, the positive earnings momentum, strategic milestones and financial resilience outweigh the operational and market challenges.Positive Updates
Strong earnings growth
EBITDAF increased 9% year-on-year to HKD 13.6 billion; operating earnings before fair value movements rose 10% to over HKD 5.7 billion; total earnings (adjusted) increased 7% to nearly HKD 6.0 billion (including gain on sale of Jhajjar).
Negative Updates
Safety incident at Castle Peak
Loss of a contractor at Castle Peak Power Station in May prompted investigations and remedial actions; safety remains highest priority despite improvements in total recordable injury rate.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong earnings growth
EBITDAF increased 9% year-on-year to HKD 13.6 billion; operating earnings before fair value movements rose 10% to over HKD 5.7 billion; total earnings (adjusted) increased 7% to nearly HKD 6.0 billion (including gain on sale of Jhajjar).
Read all positive updates
Company Guidance
Management guided that near-term earnings will be weighed by softer wholesale prices and competitive retail dynamics—Energy Australia expects challenging conditions over the next 6–12 months even as it targets ~HKD250 million of enterprise cost savings by 2027 and builds ~3 GW of flexible capacity by 2030 (Orana 200 MW live; Hallett and Wooreen under construction); CLP is continuing disciplined, capital‑efficient growth under a HKD52.9 billion five‑year Hong Kong SoC plan (HKD2.5 billion for the initial Northern Metropolis phase) with HKD5.3 billion of H1 CapEx to SoC, group H1 CapEx ~HKD7–7.3 billion and cash outflows H1 of HKD11.8 billion (HKD7.0 billion CapEx, HKD4.9 billion dividends), while CLP China is executing ~1 GW in pipeline toward a 5 GW by 2030 target with ~HKD100 million of cost savings and onshore funding via a RMB1 billion Panda bond; Apraava is scaling to ~9 GW non‑carbon by 2030 (two post‑period transmission awards ≈800 MW), smart meters ~3.7 million installed, and group financials underpinning guidance include H1 EBITDAF HKD13.6 billion (+9%), operating earnings before fair‑value movements ≈HKD5.7 billion (+10%), total earnings ≈HKD6.0 billion (+7%), interim DPS HKD1.26 (second interim HKD0.63), ~HKD20 billion liquidity, net debt broadly in line with H1 2025 and a 50:50 fixed:floating debt mix with S&P and Moody’s reaffirming investment‑grade ratings (stable outlook).CLP Holdings Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
74
Positive
Cash Flow
67
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 87.87B | 90.96B | 87.17B | 100.66B | 83.96B |
| Gross Profit | 13.31B | 29.33B | 28.53B | 18.86B | 26.63B |
| EBITDA | 23.01B | 26.76B | 21.07B | 12.18B | 22.13B |
| Net Income | 10.65B | 11.88B | 6.79B | 1.06B | 8.63B |
Balance Sheet | |||||
| Total Assets | 238.62B | 233.71B | 229.05B | 236.03B | 239.81B |
| Cash, Cash Equivalents and Short-Term Investments | 3.93B | 4.98B | 5.19B | 11.56B | 11.95B |
| Total Debt | 65.86B | 65.30B | 57.72B | 59.45B | 58.43B |
| Total Liabilities | 125.08B | 123.59B | 116.67B | 120.33B | 113.10B |
| Stockholders Equity | 107.60B | 104.06B | 106.22B | 109.39B | 116.92B |
Cash Flow | |||||
| Free Cash Flow | 7.62B | 6.84B | 10.39B | -2.90B | 4.50B |
| Operating Cash Flow | 24.38B | 23.14B | 23.57B | 12.73B | 18.08B |
| Investing Cash Flow | -14.33B | -16.22B | -9.47B | -15.38B | -11.82B |
| Financing Cash Flow | -11.22B | -7.04B | -13.14B | -987.00M | -8.48B |
CLP Holdings Technical Analysis
Neutral
9.89
Price Trends
9.60
Positive
9.54
Positive
9.20
Positive
Market Momentum
0.06
Positive
47.86
Neutral
0.34
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CLPHY, the sentiment is Neutral. The current price of 9.89 is above the 20-day moving average (MA) of 9.84, above the 50-day MA of 9.60, and above the 200-day MA of 9.20, indicating a neutral trend. The MACD of 0.06 indicates Positive momentum. The RSI at 47.86 is Neutral, neither overbought nor oversold. The STOCH value of 0.34 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for CLPHY.
CLP Holdings Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | $25.16B | 18.82 | 9.82% | 4.02% | -3.16% | -10.76% | |
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
62 Neutral | $22.57B | 21.30 | 11.02% | 2.98% | 9.93% | -1.74% | |
62 Neutral | $27.95B | 25.76 | 8.53% | 3.61% | 12.63% | -17.19% | |
62 Neutral | $26.92B | 18.55 | 8.91% | 4.11% | 7.75% | 66.25% | |
60 Neutral | $29.52B | 22.27 | 10.78% | 3.07% | 17.53% | -8.86% | |
60 Neutral | $26.49B | 28.65 | 8.32% | 3.08% | 7.52% | 21.81% |
* Utilities Sector Average
CLPHY
CLP Holdings
9.73
1.58
19.44%
CMS
CMS Energy
71.20
-1.13
-1.56%
DTE
DTE Energy
139.97
4.28
3.15%
FE
FirstEnergy
47.37
5.19
12.32%
ES
Eversource Energy
72.06
9.02
14.30%
PPL
PPL
34.62
-0.63
-1.79%
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.