CLP Holdings Ltd (CLPHY)
OTHER OTC:CLPHY
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CLP Holdings
(OTC:CLPHY)
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Rating:67Neutral
Price Target:
$10.00
â–²(9.89% Upside)
Action:Downgraded
Date:06/18/26
The score is driven primarily by solid overall financial performance (improving profitability, manageable leverage, and consistently positive operating cash flow) tempered by volatility in revenue/margins and choppy free cash flow. Valuation is supportive due to the strong dividend yield with a reasonable P/E, while technical indicators are weaker in the near term with negative MACD and price below key short/intermediate moving averages.
Positive Factors
Regulated utility revenue
CLP’s core regulated electricity business provides predictable cash flows and tariff-based returns under regulatory frameworks. That stability supports long-term investment recovery, reliable dividend capacity and lowers earnings sensitivity to wholesale price swings over a multi-month to multi-year horizon.
Negative Factors
Revenue and margin volatility
Swinging revenue and a notable 2025 gross-margin step-down reduce predictability of earnings and cash flow. For a utility with generation exposure, this structural volatility—driven by market prices, fuel costs and non‑regulated segments—complicates planning and can pressure returns over several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Regulated utility revenue
CLP’s core regulated electricity business provides predictable cash flows and tariff-based returns under regulatory frameworks. That stability supports long-term investment recovery, reliable dividend capacity and lowers earnings sensitivity to wholesale price swings over a multi-month to multi-year horizon.
Read all positive factors
CLP Holdings (CLPHY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$23.58B
Dividend Yield4.16%
Average Volume (3M)2.11K
Price to Earnings (P/E)17.3
Beta (1Y)>-0.01
Revenue Growth-3.16%
EPS Growth-10.76%
CountryUS
Employees7,069
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-1.46
Price to Book (P/B)1.65
Price to Sales (P/S)2.02
P/FCF Ratio23.24
Enterprise Value/Market Cap10.47
Enterprise Value/Revenue2.81
Enterprise Value/Gross Profit11.82
Enterprise Value/Ebitda10.56
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.62
Revenue Forecast (FY)$11.26B
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 producing and delivering electricity to customers and by earning returns from regulated utility operations and power generation investments.
1) Regulated electricity supply and network revenue (core): In its ...
CLP Holdings Earnings Call Summary
Earnings Call Date:Feb 26, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Aug 10, 2026
Earnings Call Sentiment Neutral
The call presented a mixed picture: core Hong Kong operations and group cash generation remain strong (stable EBITDAF, higher Hong Kong earnings, completed smart meter rollout, dividend increase, and solid liquidity), and CLP made tangible progress on low‑carbon projects and partnerships. Offsetting these positives were meaningful headwinds in the Chinese Mainland (lower renewables output and curtailment, nuclear tariff pressures, impairments), a weak EnergyAustralia retail performance and one‑off transformation and tax hits, and a reported ~11% decline in total/adjusted earnings. Execution of disciplined capital allocation, successful mechanism tariff wins in China, and partnership financing approaches were emphasized as mitigants.Positive Updates
Stable Group EBITDAF and Operating Resilience
EBITDAF was stable year‑on‑year at HKD 25.7 billion, and operating earnings before fair value movements declined only marginally (~2%) to ~HKD 10.7 billion, reflecting resilience in core operations despite market headwinds.
Negative Updates
Reported Earnings Decline
Reported total earnings/adjusted total earnings declined ~11% year‑on‑year (management highlighted an ~11% fall in total/adjusted earnings), reflecting weaker market conditions and one‑off comparability items.
Read all updates
Q4-2025 Updates
Positive
Negative
Stable Group EBITDAF and Operating Resilience
EBITDAF was stable year‑on‑year at HKD 25.7 billion, and operating earnings before fair value movements declined only marginally (~2%) to ~HKD 10.7 billion, reflecting resilience in core operations despite market headwinds.
Read all positive updates
Company Guidance
Management guided a disciplined, value‑over‑volume approach focused on stable dividends, self‑funded growth and protecting the investment‑grade balance sheet: group EBITDAF was stable at HKD 25.7 billion and operating earnings before fair‑value movements were ~HKD 10.6–10.7 billion (down ~2%) with adjusted total earnings down ~11% (~HKD 10.5–11.5 billion), free cash flow up HKD 1.6 billion to HKD 22.6 billion and available liquidity of ~HKD 29 billion; the Board recommended total dividends of HKD 3.20/share (up 1.6%). Capital discipline was reiterated — capital investment declined ~13% to HKD 16.4 billion (cash capex ~HKD 14.6 billion, of which ~HKD 11.2 billion was Hong Kong SoC and ~HKD 3.4 billion for China renewables/Wooreen) and annual SoC capex targeted around HKD 10–11 billion. Growth targets and timetables were reaffirmed and tightened: China renewables target trimmed from 6 GW to 5 GW by 2030 (0.5 GW added in 2025, ~1 GW secured under mechanism tariffs with 10–12 year tenors and plans for onshore Panda bonds/clean‑energy fund), India’s Apraava is targeting ~1 GW p.a. to reach ~9 GW by 2030 (Jhajjar sale proceeds to be distributed in 2026–27), and EnergyAustralia is prioritizing >1 GW (and up to ~3 GW by 2030) of new flexible capacity (Wooreen on track for 2027) while executing enterprise transformation through 2028 and using partnerships/project finance to meet return hurdles.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
Negative
9.10
Price Trends
9.51
Negative
9.44
Negative
8.94
Positive
Market Momentum
-0.06
Positive
43.06
Neutral
50.93
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CLPHY, the sentiment is Negative. The current price of 9.1 is below the 20-day moving average (MA) of 9.45, below the 50-day MA of 9.51, and above the 200-day MA of 8.94, indicating a neutral trend. The MACD of -0.06 indicates Positive momentum. The RSI at 43.06 is Neutral, neither overbought nor oversold. The STOCH value of 50.93 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
67 Neutral | $23.58B | 17.33 | 9.82% | 4.16% | -3.16% | -10.76% | |
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
64 Neutral | $30.70B | 24.15 | 10.43% | 3.45% | 22.33% | -17.75% | |
61 Neutral | $26.87B | 25.21 | 8.38% | 3.94% | 11.30% | -1.99% | |
60 Neutral | $26.17B | 14.97 | 10.86% | 4.54% | 9.83% | 101.90% | |
60 Neutral | $26.62B | 21.82 | 8.32% | 3.13% | 7.52% | 21.81% | |
58 Neutral | $22.67B | 19.92 | 12.35% | 3.10% | 13.31% | 6.97% |
* Utilities Sector Average
CLPHY
CLP Holdings
9.33
1.29
16.01%
CMS
CMS Energy
73.38
6.37
9.51%
DTE
DTE Energy
147.56
18.49
14.32%
FE
FirstEnergy
46.45
8.10
21.12%
ES
Eversource Energy
69.59
9.81
16.40%
PPL
PPL
35.38
2.65
8.09%
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.