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Wharf Real Estate Investment Co
(1997)
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Rating:68Neutral
Price Target:
HK$36.00
▲(14.65% Upside)
Action:Reiterated
Date:08/06/26
The score is primarily supported by a conservative, low-leverage balance sheet and stable positive cash generation. Technicals are favorable with price above key moving averages and positive MACD, though overbought RSI/Stoch temper the technical outlook. Valuation is helped by an attractive dividend yield, but negative earnings (negative P/E) constrain the valuation assessment.
Positive Factors
Conservative balance sheet
Low leverage and declining debt provide resilience through property-market cycles, reduce refinancing pressure and preserve financial flexibility for maintaining assets or funding development opportunities.
Negative Factors
Weak revenue growth
A declining top line indicates limited current demand or asset-income momentum and can constrain operating leverage, reinvestment capacity and the ability to offset rising property, financing or maintenance costs.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Low leverage and declining debt provide resilience through property-market cycles, reduce refinancing pressure and preserve financial flexibility for maintaining assets or funding development opportunities.
Read all positive factors
Wharf Real Estate Investment Co (1997) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$95.70B
Dividend Yield5.08%
Average Volume (3M)6.13M
Price to Earnings (P/E)―
Beta (1Y)0.92
Revenue Growth-0.55%
EPS Growth-337.48%
CountryHK
Employees2,800
SectorReal Estate
Sector Strength53
IndustryReal Estate - Services
Share Statistics
EPS (TTM)-0.67
Shares Outstanding3,036,227,300
10 Day Avg. Volume4,401,818
30 Day Avg. Volume6,132,958
Financial Highlights & Ratios
PEG Ratio0.03
Price to Book (P/B)0.41
Price to Sales (P/S)5.82
P/FCF Ratio11.09
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$33.40Price Target Upside6.37% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering8
EPS Forecast (FY)2.22
Revenue Forecast (FY)HK$12.67B
Wharf Real Estate Investment Co Business Overview & Revenue Model
Company Description
Wharf Real Estate Investment Company Limited operates as an investment holding entity, specializing in the investment, development, ownership, and operation of real estate and hospitality assets. Its activities span Hong Kong, Mainland China, and ...
How the Company Makes Money
Wharf Real Estate Investment Co (1997) makes money mainly through (1) rental and property-related income from investment properties and (2) profits from property development and sales, supplemented by other property and investment-related income i...
Wharf Real Estate Investment Co Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
78
Positive
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 12.75B | 12.81B | 12.91B | 13.31B | 12.41B | 16.04B |
| Gross Profit | 9.71B | 10.03B | 10.34B | 10.68B | 9.65B | 10.38B |
| EBITDA | 5.88B | 9.57B | 9.94B | 10.24B | 9.12B | 9.21B |
| Net Income | -2.03B | -4.26B | 891.00M | 4.77B | -8.86B | 4.39B |
Balance Sheet | ||||||
| Total Assets | 225.25B | 229.69B | 238.07B | 245.32B | 255.25B | 272.27B |
| Cash, Cash Equivalents and Short-Term Investments | 2.00B | 2.03B | 1.31B | 1.12B | 1.34B | 1.80B |
| Total Debt | 31.21B | 34.01B | 35.54B | 37.42B | 46.49B | 49.33B |
| Total Liabilities | 41.04B | 43.63B | 46.09B | 49.72B | 60.37B | 61.39B |
| Stockholders Equity | 179.85B | 181.71B | 187.82B | 191.41B | 190.36B | 206.11B |
Cash Flow | ||||||
| Free Cash Flow | 3.39B | 6.73B | 6.30B | 5.82B | 6.65B | 7.77B |
| Operating Cash Flow | 3.38B | 6.77B | 6.34B | 5.87B | 6.69B | 7.97B |
| Investing Cash Flow | -60.00M | -61.00M | -174.00M | 7.17B | -2.16B | 199.00M |
| Financing Cash Flow | -2.66B | -6.01B | -5.96B | -13.25B | -4.90B | -8.66B |
Wharf Real Estate Investment Co Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | HK$94.18B | 19.27 | 26.78% | 2.82% | 10.13% | 15.49% | |
71 Outperform | HK$7.01B | 10.26 | 3.22% | 5.23% | -10.82% | -1.24% | |
68 Neutral | HK$95.70B | -47.19 | -1.12% | 5.08% | -0.55% | -337.48% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
63 Neutral | HK$37.07B | 21.59 | 1.21% | 7.29% | 9.89% | -22.12% | |
62 Neutral | HK$16.82B | 54.40 | 1.29% | 6.59% | -1.87% | ― | |
51 Neutral | HK$1.75B | -1.37 | -9.64% | 1.62% | 27.40% | 55.09% |
* Real Estate Sector Average
HK:1997
Wharf Real Estate Investment Co
31.52
10.17
47.61%
HK:0101
Hang Lung Properties
7.13
-0.88
-10.96%
HK:0014
Hysan Development Co
16.38
1.68
11.41%
HK:0071
Miramar Hotel & Investment Co
10.14
0.67
7.10%
HK:0878
Soundwill Holdings
6.19
0.37
6.36%
HK:1209
China Resources Mixc Lifestyle Services Ltd.
41.26
2.34
6.01%
Wharf Real Estate Investment Co Corporate Events
Wharf REIC lifts payout as profit rises and gearing hits record low
Aug 6, 2026
Wharf Real Estate Investment Company reported a 6% rise in underlying net profit to HK$3.31 billion for the first half of 2026, driven mainly by lower interest costs and disciplined debt management. Despite a valuation-related revaluation deficit ...
Wharf REIC Declares HKD 0.94 Interim Dividend for First Half of 2026
Aug 6, 2026
Wharf Real Estate Investment Company Limited has declared an interim ordinary dividend of HKD 0.94 per share for the half-year ended 30 June 2026, for the financial year ending 31 December 2026. The ex-dividend date is set for 25 August 2026, with...
Wharf REIC Sells Singapore’s Wheelock Place for S$1.11 Billion
Jul 30, 2026
Wharf Real Estate Investment Company has agreed to dispose of its entire stake in a Singapore property-owning subsidiary that holds Wheelock Place, a major commercial complex on Orchard Road. The sale involves 160 million shares in the Target Comp...
Wharf REIC Sets Board Meeting to Approve Interim Results and Consider Dividend
Jul 27, 2026
Wharf Real Estate Investment Company Limited has scheduled a board meeting for 6 August 2026 to review and approve its interim results for the six months ended 30 June 2026. The directors will also consider the payment of an interim dividend, a de...
Wharf REIC Details Board and Committee Structure to Highlight Governance
Jul 2, 2026
Wharf Real Estate Investment Company Limited operates in the property investment and development sector, managing a portfolio of commercial and mixed-use assets in Hong Kong and potentially the wider Greater China market. Its business centers on o...
Wharf REIC Adds Veteran Executive Richard Tang as Independent Director
Jun 12, 2026
Wharf Real Estate Investment Company has appointed veteran businessman Richard Yat Sun Tang as an additional independent non-executive director, effective 2 July 2026. Tang, who chairs Richcom Company and King Fook Holdings and serves as an execut...
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.