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CK Hutchison Holdings
(0001)
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Rating:64Neutral
Price Target:
HK$75.00
â–²(6.69% Upside)
Action:Reiterated
Date:08/19/26
The score is driven primarily by solid financial flexibility and strong reported cash generation, tempered by weaker profitability/ROE. Valuation is a clear positive due to the low P/E. Technical signals are neutral-to-soft in the near term, and the latest earnings call supports stability but flags reliance on FX/one-offs and ongoing operational pressure in telecoms and Ports.
Positive Factors
Strong cash generation
Improved operating and free cash flow shows the diversified portfolio can convert earnings into funding for reinvestment, dividends and debt reduction. This supports financial resilience, although cash flow remains subject to portfolio and cycle-related variability.
Negative Factors
Weak profitability and declining returns
Lower net income and ROE indicate that CK Hutchison is generating less profit from its substantial capital base. Persistently weak returns could constrain organic growth, reduce earnings quality and increase pressure to reshape the portfolio.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Improved operating and free cash flow shows the diversified portfolio can convert earnings into funding for reinvestment, dividends and debt reduction. This supports financial resilience, although cash flow remains subject to portfolio and cycle-related variability.
Read all positive factors
CK Hutchison Holdings (0001) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$267.72B
Dividend Yield3.36%
Average Volume (3M)6.40M
Price to Earnings (P/E)7.0
Beta (1Y)0.69
Revenue Growth-2.34%
EPS Growth388.55%
CountryHK
Employees300,000
SectorIndustrials
Sector Strength72
IndustryConglomerates
Share Statistics
EPS (TTM)9.87
Shares Outstanding3,830,044,400
10 Day Avg. Volume5,860,870
30 Day Avg. Volume6,402,987
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 CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$87.55Price Target Upside24.54% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering6
EPS Forecast (FY)6.56
Revenue Forecast (FY)HK$323.29B
CK Hutchison Holdings Business Overview & Revenue Model
Company Description
CK Hutchison Holdings Limited, a global investment firm, engages in a wide array of activities across various sectors worldwide. Its extensive portfolio includes investments in, development, and operation of port facilities, managing 291 berths sp...
How the Company Makes Money
CK Hutchison makes money through multiple operating divisions that generate revenue and cash flow from recurring services and long-term assets:
1) Ports and related services
- Revenue model: service fees tied to global trade flows and terminal th...
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 Neutral
Balanced/neutral: the company reported solid headline revenue, earnings and liquidity improvements (supported by large disposal proceeds and strong associate performance such as Cenovus and IOH) plus resilient Retail and Ports (excluding Panama). However, a sizable portion of headline growth was FX-driven, Ports were materially harmed by the Panama expropriation, telecoms face notable operational and margin pressures, and underlying free cash flow was weaker before one-off proceeds. Management is prudent on capital deployment while exploring options.Positive Updates
Strong revenue and earnings growth (reported/pre-IFRS)
Underlying revenue increased 7% year-on-year (note: ~4 percentage points of this came from favorable FX), net earnings rose ~6% on a pre-IFRS 16 basis and ~7% post-IFRS 16.
Negative Updates
Significant part of growth driven by favorable FX
Management noted about 4 percentage points of the 7% revenue growth and roughly two-thirds of EBITDA growth were attributable to favorable foreign exchange translation rather than pure operational improvement.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong revenue and earnings growth (reported/pre-IFRS)
Underlying revenue increased 7% year-on-year (note: ~4 percentage points of this came from favorable FX), net earnings rose ~6% on a pre-IFRS 16 basis and ~7% post-IFRS 16.
Read all positive updates
Company Guidance
Guidance from the call was cautious but constructive: group underlying revenue grew 7% in H1 (with a +4ppt FX tailwind), net earnings rose ~6% pre‑IFRS16 (7% post) and the board used the 6% underlying growth to set a prudent interim dividend stance while expecting full‑year dividends to reflect full‑year underlying earnings; operating free cash flow was impacted by HKD3.7bn of associate/JV investments (operating cash bar HKD30.6bn), underlying free cash flow was HKD7.705bn vs HKD10.697bn a year ago (reported free cash flow HKD58.3bn, +88% YoY including one‑offs); balance sheet liquidity ~HKD187bn, net debt ~HKD64bn and consolidated net debt/total capital 8.1% (pro‑forma under ~HKD20bn and ~2–2.5% after the GBP4.3bn/~HKD45bn VodafoneThree proceeds); divisional guidance: Ports throughput 43.6m TEUs (‑1% overall, +3% ex‑Panama) and EBITDA HKD9.03bn (flat in LC, excl. Panama underlying HKD8.69bn) with full‑year earnings growth expected, Retail revenue/EBITDA/EBIT +9% reported (+5% LC) and H1 EBITDA HKD8.68bn (17,042 stores, loyalty base 183m, net store growth expected for full year), Infrastructure grew underlying EBITDA and raised its dividend ~3% to HKD0.75, Telecoms aiming for cost cuts and AI‑driven productivity to restore cash flow (3 Group Europe EBITDA down ~5% in LC), and capital deployment will be disciplined—prioritizing long‑term returns (M&A, reinvestment, dividends or buybacks to be decided by each group company).CK Hutchison Holdings Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
63
Positive
Cash Flow
72
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 277.39B | 280.04B | 281.35B | 275.57B | 262.50B | 280.85B |
| Gross Profit | 156.01B | 162.70B | 171.01B | 165.68B | 45.26B | 57.23B |
| EBITDA | 48.03B | 47.65B | 48.58B | 85.14B | 65.42B | 77.94B |
| Net Income | 37.79B | 11.84B | 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 | 143.75B | 121.31B | 127.32B | 138.09B | 153.13B |
| Total Debt | 316.99B | 334.28B | 324.73B | 343.53B | 353.42B | 412.06B |
| Total Liabilities | 444.87B | 467.28B | 459.95B | 488.35B | 505.69B | 581.68B |
| Stockholders Equity | 578.48B | 562.77B | 534.72B | 548.60B | 523.51B | 513.15B |
Cash Flow | ||||||
| Free Cash Flow | 47.30B | 43.82B | 33.86B | 26.14B | 30.55B | 12.05B |
| Operating Cash Flow | 64.60B | 62.57B | 54.23B | 51.44B | 56.40B | 51.69B |
| Investing Cash Flow | 18.70B | -6.11B | -19.90B | -15.41B | -5.17B | -2.41B |
| Financing Cash Flow | -33.56B | -34.01B | -40.35B | -46.78B | -66.27B | -52.10B |
CK Hutchison Holdings Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | HK$126.65B | 15.94 | 3.38% | 3.85% | 6.76% | 618.77% | |
64 Neutral | HK$267.72B | 6.98 | 6.62% | 3.36% | -2.34% | 388.55% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
63 Neutral | HK$399.12B | 5.84 | 8.21% | 4.82% | 12.61% | 10.92% | |
62 Neutral | HK$15.05B | 7.30 | 4.00% | 6.57% | -28.06% | -23.13% | |
61 Neutral | HK$37.69B | 6.24 | 5.76% | 5.56% | 5.30% | 0.81% | |
51 Neutral | HK$41.75B | -1.56 | -23.63% | 0.39% | -1.33% | -409.12% |
* Industrials Sector Average
HK:0001
CK Hutchison Holdings
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CK Hutchison Holdings Corporate Events
CK Hutchison declares interim dividend for first half of 2026
Aug 13, 2026
CK Hutchison Holdings has declared an interim ordinary cash dividend of HKD 0.7455 per share for the six months ended 30 June 2026, for the financial year ending 31 December 2026. The dividend will be paid in Hong Kong dollars, with an ex-dividend...
CK Hutchison lifts earnings, exits UK assets to hit record-low leverage
Aug 13, 2026
CK Hutchison Holdings reported higher interim revenue and earnings for the six months to 30 June 2026, despite operating in an exceptionally turbulent global environment marked by war-related disruptions, volatile commodity prices, and renewed inf...
CK Hutchison Sets August Board Meeting to Approve Interim Results and Consider Dividend
Jul 30, 2026
CK Hutchison Holdings has scheduled a board meeting for 13 August 2026 to review and approve the group’s interim results for the six months ended 30 June 2026. The board will also decide on the publication of these results, providing investo...
CK Hutchison Sets 2026 Deadline for Unclaimed 2019 Dividends
Jul 14, 2026
CK Hutchison Holdings has announced that, under its Articles of Association, dividends that remain unclaimed for six years after declaration will be forfeited and revert to the company. The board has specified that its 2019 interim dividend of HK$...
CK Hutchison Wins Strong Shareholder Backing for Dividend, Board and Capital Mandates
May 21, 2026
Shareholders of CK Hutchison Holdings approved all ordinary resolutions at the annual general meeting held on 21 May 2026, including the adoption of the 2025 audited financial statements and the declaration of a final dividend. Investors also back...
CK Hutchison Confirms Board Line-Up and Committee Roles After AGM
May 21, 2026
CK Hutchison Holdings has confirmed a 16-member board of directors following its annual general meeting on 21 May 2026, comprising eight executive directors, one non-executive director and seven independent non-executive directors. The board conti...
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.