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WH Group
(0288)
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Rating:70Outperform
Price Target:
HK$8.00
▼(-0.74% Downside)
Action:Reiterated
Date:08/06/26
The score is driven primarily by solid financial performance (improved profitability vs 2023 and manageable leverage) and attractive valuation (low P/E and high dividend yield). These positives are tempered by weaker technicals (trading below key moving averages with slightly negative momentum) and some fundamental watch items, including 2025 margin compression versus 2024 and only moderate cash-flow coverage relative to debt.
Positive Factors
Integrated global pork platform
The integrated value chain links livestock production, processing and branded foods, while U.S. and China exposure broadens the operating base. This supports supply coordination, multiple revenue streams and resilience compared with a business dependent on one product or market.
Negative Factors
Margin compression
The broad margin decline shows that higher sales did not fully translate into stronger profitability, pointing to cost or pricing pressure. If this persists, it could limit earnings growth, reduce reinvestment capacity and weaken the benefits of the company’s scale.
Read all positive and negative factors
Positive Factors
Negative Factors
Integrated global pork platform
The integrated value chain links livestock production, processing and branded foods, while U.S. and China exposure broadens the operating base. This supports supply coordination, multiple revenue streams and resilience compared with a business dependent on one product or market.
Read all positive factors
WH Group (0288) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$95.26B
Dividend Yield12.26%
Average Volume (3M)44.71M
Price to Earnings (P/E)7.9
Beta (1Y)0.40
Revenue Growth5.58%
EPS Growth-3.88%
CountryHK
Employees106,000
SectorConsumer Defensive
Sector Strength42
IndustryPackaged Foods
Share Statistics
EPS (TTM)0.12
Shares Outstanding12,830,220,000
10 Day Avg. Volume52,713,851
30 Day Avg. Volume44,710,715
Financial Highlights & Ratios
PEG Ratio-1.21
Price to Book (P/B)1.28
Price to Sales (P/S)0.51
P/FCF Ratio7.46
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$10.59Price Target Upside31.39% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)0.12
Revenue Forecast (FY)HK$28.61B
WH Group Business Overview & Revenue Model
Company Description
WH Group Limited operates as an investment holding entity, primarily focused on the end-to-end production, wholesale, and retail sales of meat products. Its extensive operations cover key markets including China, the United States, Mexico, and var...
How the Company Makes Money
WH Group makes money primarily by selling pork and pork-related products across the value chain, with revenue generated from (1) Packaged meats: manufacturing and selling branded and private-label processed meat products (e.g., bacon, ham, sausage...
WH Group Earnings Call Summary
Earnings Call Date:Oct 29, 2024
(Q3-2024)
| % Change Since: |
Next Earnings Date:Oct 27, 2026
Earnings Call Sentiment Neutral
The earnings call reflected significant profit growth and improvements in North America and Europe, countered by declines in sales volume and revenue, particularly in China. Despite challenges, strategic cost management and market adjustments in the U.S. drove substantial profitability gains.Positive Updates
Significant Profit Growth
EBITDA increased by 38.9% to $2.25 billion, operating profit increased by 71% to $1.79 billion, and profit attributable to owners increased by 90% to $1.0 billion compared to last year.
Negative Updates
Decline in Packaged Meats and Pork Volume
Packaged meats sold declined by 4.4% and pork sold volume decreased by 7.6% year-over-year.
Read all updates
Q3-2024 Updates
Positive
Negative
Significant Profit Growth
EBITDA increased by 38.9% to $2.25 billion, operating profit increased by 71% to $1.79 billion, and profit attributable to owners increased by 90% to $1.0 billion compared to last year.
Read all positive updates
Company Guidance
During the Q3 2024 earnings call for WH Group, the company reported a total revenue of USD 18.8 billion, marking a year-over-year decline of 3.2%. Despite this, significant improvements were noted in profitability metrics: EBITDA increased by 38.9% to $2.25 billion, operating profit surged by 71% to $1.79 billion, and profit attributable to owners rose by 90% to $1.0 billion. Basic EPS also saw a 90% improvement, reaching $8.43. The packaged meats segment contributed 52.5% to the revenue and a substantial 93.8% to the operating profit, while the pork business accounted for 40.1% of revenue and 12.3% of operating profit. Regionally, North America was the main revenue generator with 52.5%, followed by China at 33%, and Europe at 14.5%. The call also highlighted market dynamics, such as rising hog prices in China and declining hog prices in Europe. Looking forward, WH Group plans to maintain its market position by optimizing operations, enhancing cost management, and leveraging its diversified business model across various regions.WH Group Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
76
Positive
Cash Flow
64
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 28.43B | 28.03B | 25.94B | 26.24B | 28.14B | 27.29B |
| Gross Profit | 5.63B | 5.67B | 5.37B | 3.46B | 5.18B | 4.54B |
| EBITDA | 3.42B | 3.52B | 3.16B | 2.00B | 3.10B | 2.25B |
| Net Income | 1.55B | 1.57B | 1.61B | 629.00M | 1.37B | 1.07B |
Balance Sheet | ||||||
| Total Assets | 22.41B | 21.91B | 19.84B | 19.18B | 19.86B | 19.41B |
| Cash, Cash Equivalents and Short-Term Investments | 3.86B | 3.68B | 2.54B | 1.71B | 1.82B | 1.79B |
| Total Debt | 4.91B | 4.12B | 3.72B | 3.72B | 3.90B | 4.50B |
| Total Liabilities | 9.58B | 9.10B | 8.48B | 8.60B | 9.44B | 9.72B |
| Stockholders Equity | 11.16B | 11.19B | 10.66B | 9.83B | 9.60B | 8.75B |
Cash Flow | ||||||
| Free Cash Flow | 1.84B | 1.92B | 1.81B | 805.00M | 826.00M | 1.04B |
| Operating Cash Flow | 2.42B | 2.53B | 2.52B | 1.62B | 1.80B | 1.96B |
| Investing Cash Flow | -1.00B | -1.20B | -612.00M | -663.00M | -350.00M | -409.00M |
| Financing Cash Flow | -1.08B | -981.00M | -984.00M | -1.18B | -1.54B | -1.57B |
WH Group Technical Analysis
Negative
8.06
Price Trends
8.09
Negative
8.66
Negative
8.75
Negative
Market Momentum
-0.23
Positive
34.88
Neutral
22.23
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0288, the sentiment is Negative. The current price of 8.06 is above the 20-day moving average (MA) of 7.81, below the 50-day MA of 8.09, and below the 200-day MA of 8.75, indicating a bearish trend. The MACD of -0.23 indicates Positive momentum. The RSI at 34.88 is Neutral, neither overbought nor oversold. The STOCH value of 22.23 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:0288.
WH Group Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | HK$95.26B | 7.86 | 13.85% | 12.26% | 5.58% | -3.88% | |
69 Neutral | HK$2.61B | 15.62 | 4.01% | 7.09% | 19.12% | -12.12% | |
63 Neutral | HK$71.14B | 12.65 | 33.44% | 3.65% | 3.53% | 17.26% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
61 Neutral | HK$35.32B | 6.14 | 25.72% | 3.63% | 5.80% | -9.69% | |
58 Neutral | HK$589.39M | 16.56 | 1.54% | 6.67% | 4.12% | ― | |
41 Neutral | HK$5.43B | -1.90 | -33.05% | 5.84% | -8.46% | -550.35% |
* Consumer Defensive Sector Average
HK:0288
WH Group
7.10
-0.95
-11.82%
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WH Group Corporate Events
WH Group’s Shuanghui Unit Lifts Pork Volumes but Sees Flat First-Half Profit
Aug 28, 2026
WH Group announced the unaudited interim financial results of its major mainland subsidiary Henan Shuanghui Investment Development for the six months ended 30 June 2026, highlighting differences between China Accounting Standards and IFRS used at...
WH Group Declares HKD 0.2 Interim Dividend for First Half of 2026
Aug 28, 2026
WH Group Limited has declared an interim ordinary dividend of HKD 0.2 per share for the six months ended 30 June 2026, payable in Hong Kong dollars. The interim dividend, for the financial year ending 31 December 2026, will be paid on 30 September...
WH Group lifts H1 revenue and profit as pork volumes climb
Aug 28, 2026
WH Group reported higher sales volumes in both packaged meats and pork for the first half of 2026, with volumes up 4.9% and 6.1% respectively, driving a 3.3% increase in revenue to US$13.83 billion. Profit attributable to shareholders before biolo...
Smithfield Delivers Higher Profit on Flat Sales in First Half of 2026
Aug 11, 2026
Smithfield Foods, the U.S. pork producer controlled by WH Group, reported unaudited sales of US$7.5 billion for the six months ended 28 June 2026, slightly down from US$7.56 billion a year earlier, while gross profit eased to US$990 million from U...
WH Group Delays Board Meeting to Finalize Interim Results
Aug 6, 2026
WH Group Limited has postponed its previously scheduled board meeting from August 11, 2026 to August 28, 2026, as it requires additional time to finalize its unaudited consolidated interim results for the six months ended June 30, 2026. The board ...
WH Group Sets August Board Meeting to Review Interim Results and Dividend
Jul 10, 2026
WH Group Limited has announced that its board of directors will convene on August 11, 2026, to review and approve the unaudited consolidated interim results for the six months ended June 30, 2026. The board will also consider the declaration of an...
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.