Is China Resources Beer (Holdings) Company Limited (HKG:291) Trading At A 25% Discount?
Apr 08
Hong Kong (HSI) Brewers Industry Analysis
UpdatedApr 18, 2024
DataAggregated Company Financials
Companies4
- 7D-6.1%
- 3M-4.2%
- 1Y-51.0%
- YTDn/a
Over the last 7 days, the Brewers industry has dropped 5.8%, driven by Budweiser Brewing Company APAC declining 2.6%. The industry has fallen 51% in the last year. Looking forward, earnings are forecast to grow by 12% annually.
Industry Valuation and Performance
Has the Hong Kong Brewers Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Fri, 19 Apr 2024 | HK$328.3b | HK$133.3b | HK$16.9b | 17x | 19.4x | 2.5x |
| Sun, 17 Mar 2024 | HK$380.2b | HK$132.8b | HK$17.1b | 18.2x | 22.2x | 2.9x |
| Tue, 13 Feb 2024 | HK$353.9b | HK$131.9b | HK$17.2b | 15.1x | 20.6x | 2.7x |
| Thu, 11 Jan 2024 | HK$360.2b | HK$132.1b | HK$17.2b | 16x | 20.9x | 2.7x |
| Sat, 09 Dec 2023 | HK$369.6b | HK$132.1b | HK$17.2b | 17x | 21.5x | 2.8x |
| Mon, 06 Nov 2023 | HK$434.8b | HK$130.7b | HK$17.0b | 20.5x | 25.5x | 3.3x |
| Wed, 04 Oct 2023 | HK$452.5b | HK$131.1b | HK$17.0b | 21.2x | 26.6x | 3.5x |
| Fri, 01 Sep 2023 | HK$487.0b | HK$131.4b | HK$17.0b | 23x | 28.6x | 3.7x |
| Sun, 30 Jul 2023 | HK$535.2b | HK$127.0b | HK$16.3b | 28.5x | 32.9x | 4.2x |
| Tue, 27 Jun 2023 | HK$563.7b | HK$126.6b | HK$16.2b | 28.2x | 34.8x | 4.5x |
| Thu, 25 May 2023 | HK$561.6b | HK$128.5b | HK$16.4b | 28.2x | 34.2x | 4.4x |
| Sat, 22 Apr 2023 | HK$655.9b | HK$128.4b | HK$16.4b | 33.4x | 40.1x | 5.1x |
| Mon, 20 Mar 2023 | HK$651.4b | HK$128.2b | HK$16.2b | 34x | 40.2x | 5.1x |
| Wed, 15 Feb 2023 | HK$645.7b | HK$131.1b | HK$17.2b | 31.6x | 37.6x | 4.9x |
| Fri, 13 Jan 2023 | HK$668.5b | HK$131.1b | HK$17.2b | 32.9x | 39x | 5.1x |
| Sun, 11 Dec 2022 | HK$639.7b | HK$128.4b | HK$16.8b | 31.5x | 38x | 5x |
| Tue, 08 Nov 2022 | HK$529.4b | HK$127.1b | HK$16.7b | 27x | 31.7x | 4.2x |
| Thu, 06 Oct 2022 | HK$609.5b | HK$126.5b | HK$16.9b | 30.6x | 36x | 4.8x |
| Sat, 03 Sep 2022 | HK$594.0b | HK$128.6b | HK$17.2b | 29.9x | 34.6x | 4.6x |
| Mon, 01 Aug 2022 | HK$595.2b | HK$128.0b | HK$17.6b | 30.3x | 33.9x | 4.6x |
| Wed, 29 Jun 2022 | HK$626.1b | HK$128.7b | HK$17.2b | 31x | 36.4x | 4.9x |
| Fri, 27 May 2022 | HK$505.4b | HK$129.2b | HK$17.3b | 23.4x | 29.3x | 3.9x |
| Sun, 24 Apr 2022 | HK$532.2b | HK$130.6b | HK$16.8b | 24.4x | 31.7x | 4.1x |
| Tue, 22 Mar 2022 | HK$559.6b | HK$132.1b | HK$16.2b | 27.5x | 34.5x | 4.2x |
| Thu, 17 Feb 2022 | HK$649.9b | HK$130.2b | HK$15.5b | 34.7x | 41.8x | 5x |
| Sat, 15 Jan 2022 | HK$578.2b | HK$129.7b | HK$15.5b | 31.4x | 37.3x | 4.5x |
| Mon, 13 Dec 2021 | HK$625.0b | HK$129.8b | HK$15.5b | 33.9x | 40.3x | 4.8x |
| Wed, 10 Nov 2021 | HK$604.6b | HK$129.1b | HK$15.4b | 32.3x | 39.2x | 4.7x |
| Fri, 08 Oct 2021 | HK$565.3b | HK$128.5b | HK$15.0b | 30.2x | 37.6x | 4.4x |
| Sun, 05 Sep 2021 | HK$584.4b | HK$128.0b | HK$15.0b | 37.5x | 39x | 4.6x |
| Tue, 03 Aug 2021 | HK$599.4b | HK$128.0b | HK$15.0b | 36.4x | 40.1x | 4.7x |
| Fri, 07 May 2021 | HK$652.1b | HK$123.9b | HK$13.1b | 45.9x | 49.7x | 5.3x |
Price to Earnings Ratio
49.7x
Current Industry PE
- Investors are pessimistic on the Hong Kong Brewers industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The industry is trading at a PE ratio of 19.8x which is lower than its 3-year average PE of 34.6x.
- The 3-year average PS ratio of 4.3x is higher than the industry's current PS ratio of 2.5x.
Past Earnings Growth
- The earnings for companies in the Brewers industry have grown 8.9% per year over the last three years.
- Revenues for these companies have grown 2.5% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Industry Comparison
How does Hong Kong Brewers compare with similar industries?
| HK Market | -2.76% | |
| Consumer Staples | -4.80% | |
| Beverage | -5.14% | |
| Brewers | -6.08% | |
| Distillers and Wine Makers | -3.49% | |
| Soft Drinks | -4.62% | |
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| 168 Tsingtao Brewery | HK$52.80 | 2.0% +HK$1.4b | -36.2% | PE15.6x | |
| 236 San Miguel Brewery Hong Kong | HK$0.95 | 2.2% +HK$7.5m | 20.3% | PE4.1x |