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Power Assets Holdings
(0006)
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Rating:64Neutral
Price Target:
HK$68.00
â–²(13.33% Upside)
Action:Reiterated
Date:08/06/26
The score is primarily supported by a very strong, low-leverage balance sheet, but is held back by weaker and choppier cash flow (notably the sharp 2025 free-cash-flow decline) and volatile revenue/earnings quality signals in 2025. Technicals are neutral and valuation is mixed, with a solid dividend yield offset by a mid-range P/E.
Positive Factors
Conservative Balance Sheet
Very low leverage gives Power Assets substantial financial flexibility and resilience across the utility cycle. A conservative capital structure can support dividends, protect against earnings volatility, and preserve capacity to fund or support infrastructure investments without relying heavily on additional borrowing.
Negative Factors
Revenue Decline and Volatility
The sharp 2025 revenue decline and negative reported growth indicate that top-line performance is not consistently expanding. Continued volatility could make earnings less predictable, reduce the visibility of future distributions, and weaken the company’s ability to compound results through its existing investment portfolio.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative Balance Sheet
Very low leverage gives Power Assets substantial financial flexibility and resilience across the utility cycle. A conservative capital structure can support dividends, protect against earnings volatility, and preserve capacity to fund or support infrastructure investments without relying heavily on additional borrowing.
Read all positive factors
Power Assets Holdings (0006) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$136.18B
Dividend Yield4.41%
Average Volume (3M)3.22M
Price to Earnings (P/E)7.6
Beta (1Y)0.15
Revenue Growth-12.24%
EPS Growth190.79%
CountryHK
Employees16
SectorUtilities
Sector Strength65
IndustryIndependent Power Producers
Share Statistics
EPS (TTM)8.40
Shares Outstanding2,131,105,200
10 Day Avg. Volume3,375,748
30 Day Avg. Volume3,224,792
Financial Highlights & Ratios
PEG Ratio9.00
Price to Book (P/B)1.30
Price to Sales (P/S)152.44
P/FCF Ratio133.10
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$73.11Price Target Upside21.86% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)2.97
Revenue Forecast (FY)HK$674.48M
Power Assets Holdings Business Overview & Revenue Model
Company Description
Power Assets Holdings Limited operates as an investment holding company primarily engaged in the generation, transmission, and distribution of electricity across Hong Kong, the United Kingdom, Australia, Mainland China, and other international reg...
How the Company Makes Money
Power Assets makes money primarily through returns from its utility investments, especially its stake in Hongkong Electric (HKE). The key revenue and earnings drivers are: (1) Electricity supply operations via HKE: HKE earns revenue by selling ele...
Power Assets Holdings Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
88
Very Positive
Cash Flow
49
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 717.00M | 771.00M | 6.77B | 1.29B | 1.26B | 1.28B |
| Gross Profit | 383.00M | 419.00M | 6.35B | 1.29B | 1.26B | 1.17B |
| EBITDA | 441.00M | 478.00M | 6.52B | 1.14B | 1.17B | 1.49B |
| Net Income | 17.90B | 6.24B | 6.12B | 6.00B | 5.65B | 6.14B |
Balance Sheet | ||||||
| Total Assets | 109.65B | 98.33B | 94.08B | 95.70B | 94.53B | 94.30B |
| Cash, Cash Equivalents and Short-Term Investments | 45.27B | 2.53B | 2.73B | 4.20B | 5.89B | 4.61B |
| Total Debt | 2.77B | 3.32B | 2.51B | 3.10B | 3.24B | 3.44B |
| Total Liabilities | 6.52B | 7.60B | 7.00B | 6.95B | 7.67B | 7.54B |
| Stockholders Equity | 103.13B | 90.72B | 87.08B | 88.75B | 86.86B | 86.77B |
Cash Flow | ||||||
| Free Cash Flow | 5.53B | 883.00M | 941.00M | 1.14B | 771.00M | 939.00M |
| Operating Cash Flow | 5.53B | 884.00M | 941.00M | 1.14B | 772.00M | 939.00M |
| Investing Cash Flow | 17.51B | 3.88B | 5.69B | 4.61B | 4.01B | 5.93B |
| Financing Cash Flow | -7.19B | -5.36B | -6.35B | -6.19B | -6.14B | -6.02B |
Power Assets Holdings Technical Analysis
Positive
60.00
Price Trends
60.22
Positive
58.67
Positive
58.96
Positive
Market Momentum
0.64
Negative
61.17
Neutral
79.45
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0006, the sentiment is Positive. The current price of 60 is below the 20-day moving average (MA) of 60.53, below the 50-day MA of 60.22, and above the 200-day MA of 58.96, indicating a bullish trend. The MACD of 0.64 indicates Negative momentum. The RSI at 61.17 is Neutral, neither overbought nor oversold. The STOCH value of 79.45 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:0006.
Power Assets Holdings Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | HK$54.43B | 17.60 | 6.85% | 5.20% | 3.69% | -0.45% | |
69 Neutral | HK$195.55B | 18.04 | 10.14% | 4.13% | -1.91% | -5.03% | |
66 Neutral | HK$103.13B | 7.78 | 11.72% | 5.48% | 2.19% | 1.10% | |
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
64 Neutral | HK$136.18B | 7.61 | 18.47% | 4.41% | -12.24% | 190.79% | |
63 Neutral | HK$168.75B | 7.08 | 17.92% | 3.72% | -9.36% | 208.75% | |
59 Neutral | HK$135.66B | 20.77 | 10.65% | 4.81% | 1.53% | 12.95% |
* Utilities Sector Average
HK:0006
Power Assets Holdings
63.90
16.71
35.42%
HK:1038
CK Infrastructure Holdings
70.65
22.13
45.60%
HK:0002
CLP Holdings
77.40
13.93
21.94%
HK:0836
China Resources Power Holdings Co
19.92
2.32
13.18%
HK:2638
HK Electric Investments & HK Electric Investments
6.16
0.41
7.21%
HK:0003
Hong Kong & China Gas Co
7.27
0.39
5.61%
Power Assets Holdings Corporate Events
Power Assets turbocharges profit on UK asset sales, strengthens cash for global utility growth
Aug 12, 2026
Power Assets Holdings reported unaudited interim profit of HK$14,704 million for the six months to 30 June 2026, a 383% increase driven mainly by the divestment of its stakes in UK Power Networks and UK Rails. The group maintained its interim divi...
Power Assets Declares HKD 0.78 Interim Dividend for First Half 2026
Aug 12, 2026
Power Assets Holdings Limited has declared an interim ordinary dividend of HKD 0.78 per share for the six months ended 30 June 2026, payable in Hong Kong dollars. The ex-dividend date is set for 9 September 2026, with the record date on 10 Septemb...
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.