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CTF Services Limited Sponsored ADR
(OTC:NWSGY)
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Rating:57Neutral
Price Target:
$10.50
▲(2.04% Upside)
Action:Downgraded
Date:06/13/26
The score is held back primarily by weakening financial quality (notably the sharp 2025 cash flow decline, rising leverage, and multi-year revenue contraction). Valuation is a positive offset (reasonable P/E and very high dividend yield), but technical indicators are currently bearish, limiting near-term confidence.
Positive Factors
Sustained Profitability
Margins around 7–10% and a 2025 EBIT margin near 9% indicate durable underwriting and operating profitability. Consistent operating profit provides ongoing capacity to fund reserves, support product pricing and sustain earnings through normal insurance-cycle volatility.
Negative Factors
Multi-year Revenue Contraction
Three consecutive years of revenue decline signal weakening new business or lapses in in-force policies, reducing scale and underwriting leverage. Persistent top-line contraction erodes earning power, limits expense absorption and increases reliance on investment income to sustain profits.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained Profitability
Margins around 7–10% and a 2025 EBIT margin near 9% indicate durable underwriting and operating profitability. Consistent operating profit provides ongoing capacity to fund reserves, support product pricing and sustain earnings through normal insurance-cycle volatility.
Read all positive factors
CTF Services Limited Sponsored ADR (NWSGY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.55B
Dividend Yield15.91%
Average Volume (3M)0.00
Price to Earnings (P/E)14.5
Beta (1Y)-0.14
Revenue Growth1.93%
EPS Growth3.39%
CountryUS
Employees10,400
SectorGeneral
Sector StrengthN/A
IndustryEngineering & Construction
Share Statistics
EPS (TTM)5.50
Shares Outstanding456,625,800
10 Day Avg. Volume0
30 Day Avg. Volume0
Financial Highlights & Ratios
PEG Ratio7.06
Price to Book (P/B)0.73
Price to Sales (P/S)1.20
P/FCF Ratio49.46
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
CTF Services Limited Sponsored ADR Business Overview & Revenue Model
Company Description
CTF Services Limited is a conglomerate company with a diversified portfolio of businesses in toll roads, insurance, logistics, construction, and facilities management primarily in Hong Kong and the Mainland. It engages in the operation of toll roa...
How the Company Makes Money
CTF Services Limited primarily makes money through its insurance operations. Key revenue and earnings drivers typically include: (1) insurance premiums collected from policyholders for life and related insurance products; (2) investment income gen...
CTF Services Limited Sponsored ADR Earnings Call Summary
Earnings Call Date:Sep 24, 2025
(Q4-2025)
| % Change Since: |
Next Earnings Date:Sep 24, 2026
Earnings Call Sentiment Neutral
The earnings call presented a stable year with strategic portfolio optimizations and strong performance in financial services. However, challenges in the Road and Logistics segments, as well as in construction and facility management, indicate areas needing attention. The sentiment remains balanced with both positive and negative aspects considered.Positive Updates
Increase in AOP and Financial Performance
AOP increased by 7% year-on-year to $4.5 billion. Adjusted EBITDA increased by 1% to $7.3 billion, and profit attributable to shareholders increased by 4% year-on-year to HKD 2.2 billion.
Negative Updates
Decline in Road Segment
AOP for the Road segment decreased by 8% year-on-year, primarily due to the expiration of concession periods for certain roads.
Read all updates
Q4-2025 Updates
Positive
Negative
Increase in AOP and Financial Performance
AOP increased by 7% year-on-year to $4.5 billion. Adjusted EBITDA increased by 1% to $7.3 billion, and profit attributable to shareholders increased by 4% year-on-year to HKD 2.2 billion.
Read all positive updates
Company Guidance
During the CDF Services Limited Financial Year 2025 Annual Results Analyst Briefing, key financial metrics were highlighted, indicating a generally stable year with strategic shifts to enhance the business portfolio. The company reported an Adjusted Operating Profit (AOP) increase of 7% year-on-year to $4.5 billion, with significant contributions from the Financial Services segment, which saw a 29% rise to $1.24 billion. Despite a decrease in the Road segment's AOP by 8% due to expired concessions, excluding these, the AOP increased 1%. Logistics business AOP rose by 3% to $740 million. The company maintained a progressive dividend policy, distributing a total dividend of HKD 0.95 per share, providing an 8.3% yield based on the latest closing price. They achieved a 19% reduction in Scope 1 and 2 emissions compared to the FY 2023 baseline, reflecting their ongoing ESG commitments. Additionally, the net debt balance stood at HKD 14.7 billion, translating into a net gearing ratio of 37%, with a net debt to adjusted EBITDA ratio of 2x, suggesting a healthy financial position. The briefing also covered strategic expansions, including renaming the Insurance segment to Financial Services, launching Bermuda operations to serve high-net-worth clients, and plans for acquisitions in undervalued logistics assets, particularly in the Greater Bay Area and Yangtze River Delta, aligning with the company's aim to maximize long-term shareholder value.CTF Services Limited Sponsored ADR Financial Statement Overview
Summary
Income Statement
64
Positive
Balance Sheet
56
Neutral
Cash Flow
38
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 24.98B | 24.29B | 26.42B | 27.12B | 31.14B | 28.20B |
| Gross Profit | 5.57B | 3.95B | 3.94B | 5.20B | 3.53B | 3.79B |
| EBITDA | 5.75B | 3.69B | 6.28B | 6.22B | 4.14B | 47.40M |
| Net Income | 2.52B | 2.36B | 2.54B | 2.06B | 2.17B | 1.70B |
Balance Sheet | ||||||
| Total Assets | 182.14B | 172.90B | 155.08B | 161.97B | 148.77B | 152.57B |
| Cash, Cash Equivalents and Short-Term Investments | 31.51B | 29.92B | 25.45B | 33.07B | 27.09B | 23.94B |
| Total Debt | 37.71B | 35.58B | 35.20B | 25.49B | 35.24B | 26.04B |
| Total Liabilities | 140.98B | 133.01B | 111.73B | 122.19B | 105.41B | 104.65B |
| Stockholders Equity | 38.82B | 39.86B | 43.33B | 55.69B | 53.84B | 58.44B |
Cash Flow | ||||||
| Free Cash Flow | 221.11M | 588.01M | 1.96B | 5.68B | 5.56B | -41.90M |
| Operating Cash Flow | 710.85M | 650.06M | 2.45B | 6.20B | 6.26B | 370.00M |
| Investing Cash Flow | -726.55M | 139.08M | 2.52B | 4.44B | 2.82B | 5.94B |
| Financing Cash Flow | 699.52M | -153.42M | -9.27B | -3.68B | -4.65B | -8.58B |
CTF Services Limited Sponsored ADR Technical Analysis
Negative
10.29
Price Trends
10.11
Negative
10.27
Negative
10.21
Negative
Market Momentum
<0.01
Positive
42.02
Neutral
26.12
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NWSGY, the sentiment is Negative. The current price of 10.29 is above the 20-day moving average (MA) of 10.14, above the 50-day MA of 10.11, and above the 200-day MA of 10.21, indicating a bearish trend. The MACD of <0.01 indicates Positive momentum. The RSI at 42.02 is Neutral, neither overbought nor oversold. The STOCH value of 26.12 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for NWSGY.
CTF Services Limited Sponsored ADR Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $4.69B | 37.79 | 10.13% | 0.30% | 24.70% | ― | |
66 Neutral | $4.53B | 27.40 | 24.17% | ― | 16.06% | 121.28% | |
58 Neutral | $7.25B | -4.50 | -57.08% | 6.65% | -4.77% | -151.32% | |
58 Neutral | $5.20B | -31.54 | -16.01% | 0.44% | 21.80% | -204.13% | |
57 Neutral | $4.55B | 14.48 | 6.37% | 15.91% | 1.93% | 3.39% | |
56 Neutral | $4.05B | 29.18 | 8.46% | 0.43% | 5.12% | -42.27% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
NWSGY
CTF Services Limited Sponsored ADR
9.97
1.58
18.79%
FLR
Fluor
54.20
12.72
30.67%
GVA
Granite Construction
118.92
10.01
9.19%
MYRG
MYR Group
291.26
117.45
67.57%
PRIM
Primoris Services
75.28
-47.94
-38.91%
TPC
Tutor Perini
89.13
25.13
39.27%
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.