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CK Infrastructure Holdings
(1038)
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Rating:63Neutral
Price Target:
HK$75.00
â–²(15.38% Upside)
Action:Reiterated
Date:08/06/26
The score is primarily driven by mixed financial performance: a solid balance sheet and positive free cash flow are offset by declining revenue and uneven earnings quality. Technicals are neutral-to-slightly positive with the stock holding around key moving averages and a positive MACD. Valuation is supportive due to a ~4.17% dividend yield alongside a mid-range P/E.
Positive Factors
Recurring infrastructure cash flows
Exposure to regulated and contracted infrastructure gives CK Infrastructure a business model anchored in essential services and recurring cash flows. This can support earnings resilience, dividend capacity and reinvestment across a diversified portfolio, reducing reliance on any single operating asset or market.
Negative Factors
Multi-year revenue contraction
The sustained decline in revenue indicates weakening scale in the reported operating base rather than a single-period fluctuation. Continued contraction could reduce the contribution available from portfolio businesses, limit operating leverage and make future earnings growth more dependent on acquisitions or non-core items.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring infrastructure cash flows
Exposure to regulated and contracted infrastructure gives CK Infrastructure a business model anchored in essential services and recurring cash flows. This can support earnings resilience, dividend capacity and reinvestment across a diversified portfolio, reducing reliance on any single operating asset or market.
Read all positive factors
CK Infrastructure Holdings (1038) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$168.75B
Dividend Yield3.72%
Average Volume (3M)1.28M
Price to Earnings (P/E)7.1
Beta (1Y)0.11
Revenue Growth-9.36%
EPS Growth208.75%
CountryHK
Employees2,031
SectorUtilities
Sector Strength65
IndustryRegulated Electric
Share Statistics
EPS (TTM)9.98
Shares Outstanding2,519,610,800
10 Day Avg. Volume1,499,616
30 Day Avg. Volume1,283,119
Financial Highlights & Ratios
PEG Ratio9.42
Price to Book (P/B)1.13
Price to Sales (P/S)32.85
P/FCF Ratio77.32
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$69.48Price Target Upside6.89% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)10.02
Revenue Forecast (FY)HK$6.09B
CK Infrastructure Holdings Business Overview & Revenue Model
Company Description
CK Infrastructure Holdings Limited is a major global infrastructure enterprise, involved in the development, investment, operation, and commercialization of various infrastructure projects across Hong Kong, Mainland China, the United Kingdom, Cont...
How the Company Makes Money
CK Infrastructure Holdings makes money primarily by owning stakes in infrastructure and utility-type businesses that generate recurring cash flows. Revenue and earnings are typically derived from (1) regulated or contracted operating income from p...
CK Infrastructure Holdings Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
72
Positive
Cash Flow
63
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.28B | 4.42B | 4.99B | 5.99B | 6.62B | 7.05B |
| Gross Profit | -148.00M | 146.00M | 2.66B | 1.73B | 3.53B | 2.42B |
| EBITDA | 247.00M | 541.00M | 9.94B | 9.86B | 9.28B | 8.94B |
| Net Income | 25.61B | 8.70B | 8.12B | 8.03B | 7.75B | 7.51B |
Balance Sheet | ||||||
| Total Assets | 185.95B | 166.26B | 157.84B | 165.87B | 165.87B | 163.00B |
| Cash, Cash Equivalents and Short-Term Investments | 55.28B | 7.35B | 8.11B | 13.08B | 18.05B | 8.09B |
| Total Debt | 21.66B | 30.98B | 19.54B | 24.57B | 28.56B | 40.12B |
| Total Liabilities | 28.08B | 38.30B | 26.59B | 32.60B | 46.37B | 47.04B |
| Stockholders Equity | 157.81B | 127.91B | 131.16B | 133.18B | 119.39B | 115.83B |
Cash Flow | ||||||
| Free Cash Flow | 2.01B | 1.88B | 1.59B | 3.50B | 6.64B | 7.47B |
| Operating Cash Flow | 2.34B | 2.21B | 1.97B | 3.85B | 7.12B | 7.83B |
| Investing Cash Flow | 55.19B | 3.95B | 3.18B | 2.41B | 14.87B | -1.04B |
| Financing Cash Flow | -6.97B | -6.92B | -10.12B | -11.22B | -6.19B | -12.19B |
CK Infrastructure Holdings Technical Analysis
Positive
65.00
Price Trends
65.85
Positive
62.91
Positive
62.16
Positive
Market Momentum
1.07
Negative
64.86
Neutral
83.33
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1038, the sentiment is Positive. The current price of 65 is below the 20-day moving average (MA) of 67.06, below the 50-day MA of 65.85, and above the 200-day MA of 62.16, indicating a bullish trend. The MACD of 1.07 indicates Negative momentum. The RSI at 64.86 is Neutral, neither overbought nor oversold. The STOCH value of 83.33 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:1038.
CK Infrastructure Holdings Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | HK$55.06B | 7.50 | 12.80% | 6.21% | 5.69% | 8.67% | |
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:1038
CK Infrastructure Holdings
70.65
22.13
45.60%
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2.32
13.18%
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HK:0003
Hong Kong & China Gas Co
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ENN Energy Holdings
48.76
-15.08
-23.62%
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.