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Hengan International Group Co
(1044)
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Rating:65Neutral
Price Target:
HK$26.00
â–˛(17.01% Upside)
Action:Reiterated
Date:08/06/26
The score is driven primarily by steady but unexciting financial performance (flat-to-down revenue and compressed margins, offset by meaningful free cash flow and manageable leverage) and strong valuation support (low P/E and high dividend yield). Technicals are mixed, with the stock still below longer-term moving averages and neutral momentum readings.
Positive Factors
Meaningful Free Cash Flow
Sustained operating and free cash generation gives Hengan internal funding for manufacturing, distribution, product investment and shareholder returns, reducing reliance on external financing despite uneven year-to-year cash conversion.
Negative Factors
Limited Revenue Growth
Persistently weak top-line momentum limits operating leverage and makes growth dependent on pricing, product mix or efficiency gains. Without stronger volume expansion, the company may struggle to offset inflation, competition and changing consumer preferences.
Read all positive and negative factors
Positive Factors
Negative Factors
Meaningful Free Cash Flow
Sustained operating and free cash generation gives Hengan internal funding for manufacturing, distribution, product investment and shareholder returns, reducing reliance on external financing despite uneven year-to-year cash conversion.
Read all positive factors
Hengan International Group Co (1044) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$25.05B
Dividend Yield7.42%
Average Volume (3M)4.85M
Price to Earnings (P/E)8.8
Beta (1Y)0.70
Revenue Growth2.19%
EPS Growth10.78%
CountryHK
Employees22,221
SectorConsumer Defensive
Sector Strength42
IndustryHousehold & Personal Products
Share Statistics
EPS (TTM)2.11
Shares Outstanding1,162,121,000
10 Day Avg. Volume4,745,264
30 Day Avg. Volume4,851,794
Financial Highlights & Ratios
PEG Ratio1.08
Price to Book (P/B)1.31
Price to Sales (P/S)1.24
P/FCF Ratio13.01
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$25.44Price Target Upside14.50% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering5
EPS Forecast (FY)2.06
Revenue Forecast (FY)HK$22.53B
Hengan International Group Co Business Overview & Revenue Model
Company Description
Hengan International Group Company Limited functions as an investment holding company, with its primary focus on the manufacturing, distribution, and sale of personal care and hygiene products. Its market reach extends across the People's Republic...
How the Company Makes Money
Hengan makes money primarily by manufacturing and selling fast-moving consumer goods (FMCG) in the personal hygiene and household paper categories under its brand portfolio. Its core revenue streams come from (1) sanitary napkins, where it sells p...
Hengan International Group Co Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
58
Neutral
Cash Flow
66
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 22.20B | 23.07B | 22.67B | 23.77B | 22.62B | 20.79B |
| Gross Profit | 7.85B | 7.81B | 7.32B | 8.01B | 7.69B | 7.77B |
| EBITDA | 3.41B | 3.90B | 4.43B | 5.14B | 4.12B | 4.55B |
| Net Income | 2.40B | 2.54B | 2.30B | 2.80B | 1.93B | 3.27B |
Balance Sheet | ||||||
| Total Assets | 48.07B | 43.20B | 39.80B | 40.22B | 42.34B | 42.29B |
| Cash, Cash Equivalents and Short-Term Investments | 22.18B | 15.62B | 14.32B | 18.22B | 18.70B | 18.26B |
| Total Debt | 21.42B | 15.77B | 13.11B | 14.27B | 17.07B | 18.26B |
| Total Liabilities | 25.93B | 21.22B | 18.66B | 19.59B | 22.56B | 23.01B |
| Stockholders Equity | 21.92B | 21.76B | 20.92B | 20.40B | 19.52B | 19.04B |
Cash Flow | ||||||
| Free Cash Flow | 1.49B | 2.19B | 1.52B | 2.35B | 2.57B | 3.82B |
| Operating Cash Flow | 2.52B | 3.24B | 3.07B | 3.88B | 3.81B | 4.60B |
| Investing Cash Flow | -5.89B | -5.68B | -110.26M | 3.58B | -6.07B | 2.68B |
| Financing Cash Flow | 3.13B | 769.03M | -3.59B | -5.55B | -4.14B | -6.49B |
Hengan International Group Co Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | HK$9.17B | 11.74 | 25.72% | 5.95% | 23.19% | -22.44% | |
65 Neutral | HK$25.05B | 8.75 | 10.98% | 7.42% | 2.19% | 10.78% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
57 Neutral | HK$98.04M | 12.23 | 5.15% | 1.75% | 6.15% | 200.00% | |
46 Neutral | HK$910.96M | -15.85 | -12.81% | 0.53% | 13.43% | 7.72% | |
38 Underperform | HK$20.78B | -233.23 | -1.21% | 4.64% | -2.44% | 81.73% |
* Consumer Defensive Sector Average
HK:1044
Hengan International Group Co
21.58
-1.34
-5.84%
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Blue Moon Group Holdings Ltd.
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Hengan International Group Co Corporate Events
Hengan International Declares Interim Dividend for First Half of 2026
Aug 19, 2026
Hengan International Group Company Limited is a Hong Kong-listed consumer goods manufacturer specializing in sanitary and household products, targeting the mainland China market and broader regional demand. The group’s governance structure i...
Hengan International Delivers Higher Margins Amid Revenue Decline in Interim 2026 Results
Aug 19, 2026
Hengan International Group Co, incorporated in the Cayman Islands and listed in Hong Kong, operates in the consumer goods and hygiene products sector, focusing on household and personal care items that support everyday living standards. The compan...
Hengan International Schedules Board Meeting to Review Interim Results and Dividend
Jul 29, 2026
Hengan International Group Company Limited has scheduled a board meeting for 19 August 2026 to review its interim financial results for the six months ended 30 June 2026. The board will also consider the payment of an interim dividend, underscorin...
Hengan Names CEO Hui Ching Lau as Acting Chairman During Chairman’s Health Leave
Jun 23, 2026
Hengan International Group has appointed chief executive officer and executive director Hui Ching Lau as acting chairman of the board, effective 23 June 2026, to cover the leave of absence of chairman Sze Man Bok due to health reasons. The board e...
Hengan International Updates Board Roles and Committee Structure
Jun 23, 2026
Hengan International Group Company Limited has updated the composition of its board, naming Mr. Sze Man Bok as executive director and chairman, and Mr. Hui Ching Lau as executive director, chief executive officer and acting chairman, alongside sev...
Hengan International Chairman Takes Health-Related Leave as Board Affirms Stable Operations
Jun 9, 2026
Hengan International Group Company Limited announced that its chairman and executive director, Mr. Sze Man Bok, has taken a temporary leave of absence from his duties due to personal health reasons. The board emphasized that the group’s oper...
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.