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HKT and HKT
(6823)
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Rating:69Neutral
Price Target:
HK$14.50
â–²(18.85% Upside)
Action:Reiterated
Date:08/06/26
The score is driven primarily by stable profitability and modest growth, but held back by elevated leverage and weakening 2025 free-cash-flow conversion. Technicals are constructive (price above key moving averages, positive MACD) yet overbought signals increase near-term risk. Valuation is supported by a strong dividend yield, with a moderate P/E.
Positive Factors
Recurring revenue / diversified services
HKT’s revenue base is centered on recurring subscription and usage-based telecom services across consumer and enterprise segments, plus bundled offerings. That generates predictable, sticky cash flows and customer retention, supporting stable revenue visibility and planning over the medium term.
Negative Factors
Elevated leverage
Material leverage (debt/equity ~1.1–1.3) and rising total debt reduce financial flexibility. In a higher-rate environment this increases interest expense risk, constrains capacity for aggressive capex or M&A, and limits room to maneuver if cash flow weakens or investment needs rise.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring revenue / diversified services
HKT’s revenue base is centered on recurring subscription and usage-based telecom services across consumer and enterprise segments, plus bundled offerings. That generates predictable, sticky cash flows and customer retention, supporting stable revenue visibility and planning over the medium term.
Read all positive factors
HKT and HKT (6823) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$94.02B
Dividend Yield6.68%
Average Volume (3M)9.61M
Price to Earnings (P/E)17.7
Beta (1Y)0.16
Revenue Growth7.09%
EPS Growth4.21%
CountryHK
Employees12,600
SectorCommunication Services
Sector Strength97
IndustryTelecommunications Services
Share Statistics
EPS (TTM)0.70
Shares Outstanding7,582,398,400
10 Day Avg. Volume7,149,720
30 Day Avg. Volume9,610,193
Financial Highlights & Ratios
PEG Ratio3.67
Price to Book (P/B)2.37
Price to Sales (P/S)2.39
P/FCF Ratio14.31
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$13.70Price Target Upside12.30% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.74
Revenue Forecast (FY)HK$36.80B
HKT and HKT Business Overview & Revenue Model
Company Description
HKT Trust and HKT Limited provides a broad spectrum of telecommunications services across Hong Kong, mainland China, and international markets. The company's operations are organized into several distinct divisions. Its Telecommunications Services...
How the Company Makes Money
HKT makes money primarily by selling recurring subscription and usage-based telecommunications services and related digital/IT solutions. Key revenue streams typically include: (1) Fixed telecommunications and broadband: monthly service fees for r...
HKT and HKT Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
64
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 37.92B | 36.55B | 34.75B | 34.33B | 34.13B | 33.96B |
| Gross Profit | 8.73B | 11.58B | 17.04B | 16.88B | 11.24B | 11.59B |
| EBITDA | 15.92B | 14.30B | 13.66B | 13.19B | 13.07B | 12.80B |
| Net Income | 5.37B | 5.29B | 5.07B | 4.99B | 4.90B | 4.81B |
Balance Sheet | ||||||
| Total Assets | 124.57B | 121.15B | 116.81B | 112.12B | 111.19B | 109.61B |
| Cash, Cash Equivalents and Short-Term Investments | 3.41B | 2.64B | 2.16B | 1.72B | 2.50B | 3.08B |
| Total Debt | 50.59B | 47.09B | 43.16B | 46.70B | 45.87B | 45.87B |
| Total Liabilities | 87.55B | 82.76B | 77.17B | 76.74B | 74.77B | 72.42B |
| Stockholders Equity | 35.45B | 36.82B | 38.28B | 35.31B | 36.37B | 37.14B |
Cash Flow | ||||||
| Free Cash Flow | 781.00M | 6.09B | 6.78B | 6.23B | 4.98B | 4.84B |
| Operating Cash Flow | 9.97B | 11.63B | 11.91B | 11.26B | 9.98B | 10.11B |
| Investing Cash Flow | -6.44B | -5.81B | -5.79B | -5.21B | -4.84B | -5.41B |
| Financing Cash Flow | -2.21B | -5.71B | -5.89B | -6.41B | -5.32B | -4.30B |
HKT and HKT Technical Analysis
Positive
12.20
Price Trends
12.25
Positive
11.98
Positive
11.57
Positive
Market Momentum
-0.01
Positive
53.63
Neutral
83.55
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:6823, the sentiment is Positive. The current price of 12.2 is below the 20-day moving average (MA) of 12.31, below the 50-day MA of 12.25, and above the 200-day MA of 11.57, indicating a bullish trend. The MACD of -0.01 indicates Positive momentum. The RSI at 53.63 is Neutral, neither overbought nor oversold. The STOCH value of 83.55 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:6823.
HKT and HKT Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | HK$1.73T | 11.13 | 9.13% | 6.87% | 4.26% | -4.41% | |
70 Outperform | HK$5.36B | 10.36 | 9.66% | 6.57% | 5.60% | 9.64% | |
69 Neutral | HK$94.02B | 17.70 | 14.86% | 6.68% | 7.09% | 4.21% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
60 Neutral | HK$5.49B | -278.05 | 0.25% | 6.60% | 23.04% | -192.00% | |
54 Neutral | HK$41.65B | -502.75 | -6.77% | 6.98% | 7.10% | 70.22% | |
44 Neutral | HK$8.10B | 39.40 | 9.40% | 6.21% | 8.01% | 58.51% |
* Communication Services Sector Average
HK:6823
HKT and HKT
12.39
1.25
11.25%
HK:0941
China Mobile
78.95
-2.77
-3.39%
HK:1310
HKBN
5.54
0.71
14.79%
HK:0215
Hutchison Telecommunications Hong Kong Holdings
1.14
0.12
11.55%
HK:0315
SmarTone Telecommunications Holdings
4.87
0.38
8.41%
HK:0008
PCCW Limited
5.48
0.42
8.34%
HKT and HKT Corporate Events
HKT boosts earnings and doubles down on AI infrastructure in first-half 2026
Jul 29, 2026
HKT reported resilient interim results for the six months to 30 June 2026, supported by improving local economic conditions and strong execution. Total revenue grew 8% to HK$18,685 million, while EBITDA rose 3% to HK$6,586 million and adjusted fun...
HKT Trust and HKT Limited Declare Interim Dividend of HKD 0.348 per Stapled Unit
Jul 29, 2026
HKT Trust and HKT Limited have declared an interim ordinary cash dividend of HKD 0.348 per share stapled unit for the six months ended 30 June 2026, for the financial year ending 31 December 2026. The payout underlines the group’s continued ...
HKT Trust and HKT Limited Set July Board Meetings to Approve Interim Results
Jul 17, 2026
HKT Trust and HKT Limited have scheduled board meetings for 29 July 2026 to review and approve the interim results for the six months ended 30 June 2026. The boards will also consider the declaration of an interim dividend or distribution, signali...
HKT Trust and HKT Limited Grant New Share Stapled Unit Awards
Jun 30, 2026
HKT Trust and HKT Limited have granted a total of 60,171 share stapled unit awards under their 2024 Share Stapled Unit Award Scheme, comprising 45,731 units to employee participants and 14,440 units to non‑executive director Peter Anthony Al...
HKT Grants Over 519,000 Share Stapled Unit Awards Under 2024 Incentive Scheme
May 22, 2026
HKT Trust and HKT Limited have granted a total of 519,605 share stapled unit awards under their 2024 Share Stapled Unit Award Scheme, jointly issued by the trust and the company. The awards, priced at nil consideration with a reference closing pri...
HKT Trust and HKT Limited Win Investor Backing for All AGM Resolutions
May 21, 2026
HKT Trust and HKT Limited reported that all resolutions at their 21 May 2026 annual general meeting were approved by unitholders and shareholders voting by poll, including adoption of the 2025 financial statements and reappointment of Pricewaterho...
HKT Reshuffles Board Committees After Retirement of Independent Director
May 21, 2026
HKT Trust and HKT Limited have announced the retirement of independent non-executive director Sunil Varma from both the trustee-manager and company boards, effective at the close of the 21 May 2026 annual general meeting, ending his roles as chair...
HKT Trust and HKT Limited Clarify Board and Committee Structure
May 21, 2026
HKT Trust and HKT Limited announced the current composition of their shared boards, listing executive, non-executive, and independent non-executive directors who simultaneously serve on both the trustee-manager and company boards. This unified str...
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.