Narrative Update • Aug 20
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Hong Kong (HSI) Industrials Sector Analysis
UpdatedAug 21, 2026
DataAggregated Company Financials
Companies484
- 7D0.4%
- 3M-8.1%
- 1Y4.6%
- YTD0.2%
Last week, the Industrials industry hasn't moved much but COSCO SHIPPING Holdings is up 12% in that time. As for the the longer term, the industry is up 4.6% over the past 12 months. Earnings are forecast to grow by 11% annually.
Sector Valuation and Performance
Has the Hong Kong Industrials Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Fri, 21 Aug 2026 | HK$5.0t | HK$8.0t | HK$381.3b | 11.3x | 13.2x | 0.6x |
| Sun, 19 Jul 2026 | HK$4.7t | HK$7.9t | HK$333.2b | 10.9x | 14.2x | 0.6x |
| Tue, 16 Jun 2026 | HK$5.1t | HK$7.9t | HK$321.3b | 11.4x | 15.8x | 0.6x |
| Thu, 14 May 2026 | HK$5.5t | HK$7.9t | HK$320.6b | 12.2x | 17.1x | 0.7x |
| Sat, 11 Apr 2026 | HK$5.1t | HK$7.8t | HK$319.8b | 11.3x | 15.9x | 0.6x |
| Mon, 09 Mar 2026 | HK$5.1t | HK$7.9t | HK$364.1b | 11.8x | 14.1x | 0.6x |
| Wed, 04 Feb 2026 | HK$4.9t | HK$7.9t | HK$358.1b | 11.7x | 13.7x | 0.6x |
| Fri, 02 Jan 2026 | HK$4.6t | HK$7.8t | HK$354.9b | 10.9x | 12.9x | 0.6x |
| Sun, 30 Nov 2025 | HK$4.5t | HK$7.7t | HK$350.9b | 11x | 12.7x | 0.6x |
| Tue, 28 Oct 2025 | HK$4.5t | HK$7.6t | HK$355.7b | 11.1x | 12.7x | 0.6x |
| Thu, 25 Sep 2025 | HK$4.4t | HK$7.6t | HK$356.0b | 11x | 12.3x | 0.6x |
| Sat, 23 Aug 2025 | HK$4.5t | HK$7.8t | HK$357.6b | 10.8x | 12.7x | 0.6x |
| Mon, 21 Jul 2025 | HK$4.3t | HK$7.8t | HK$365.9b | 10x | 11.9x | 0.6x |
| Wed, 18 Jun 2025 | HK$4.2t | HK$7.8t | HK$365.8b | 10.1x | 11.6x | 0.5x |
| Fri, 16 May 2025 | HK$4.1t | HK$7.8t | HK$362.6b | 10.1x | 11.3x | 0.5x |
| Sun, 13 Apr 2025 | HK$3.7t | HK$7.7t | HK$356.1b | 8.9x | 10.5x | 0.5x |
| Tue, 11 Mar 2025 | HK$4.0t | HK$7.6t | HK$382.2b | 9.2x | 10.5x | 0.5x |
| Thu, 06 Feb 2025 | HK$3.8t | HK$7.6t | HK$373.0b | 8.6x | 10.1x | 0.5x |
| Sat, 04 Jan 2025 | HK$3.8t | HK$7.6t | HK$371.3b | 8.6x | 10.3x | 0.5x |
| Mon, 02 Dec 2024 | HK$3.9t | HK$7.6t | HK$374.5b | 8.3x | 10.3x | 0.5x |
| Wed, 30 Oct 2024 | HK$3.9t | HK$7.7t | HK$357.2b | 8.7x | 11.1x | 0.5x |
| Fri, 27 Sep 2024 | HK$3.8t | HK$7.8t | HK$362.1b | 8.3x | 10.5x | 0.5x |
| Sun, 25 Aug 2024 | HK$3.6t | HK$7.7t | HK$372.6b | 8.1x | 9.7x | 0.5x |
| Tue, 23 Jul 2024 | HK$3.5t | HK$7.4t | HK$326.9b | 8.3x | 10.8x | 0.5x |
| Thu, 20 Jun 2024 | HK$3.7t | HK$7.4t | HK$327.9b | 8.9x | 11.4x | 0.5x |
| Sat, 18 May 2024 | HK$3.8t | HK$7.4t | HK$330.7b | 8.7x | 11.6x | 0.5x |
| Mon, 15 Apr 2024 | HK$3.5t | HK$7.4t | HK$328.6b | 8.1x | 10.7x | 0.5x |
| Wed, 13 Mar 2024 | HK$3.5t | HK$7.3t | HK$347.7b | 7.8x | 10x | 0.5x |
| Fri, 09 Feb 2024 | HK$3.3t | HK$7.3t | HK$354.1b | 7.6x | 9.2x | 0.4x |
| Sun, 07 Jan 2024 | HK$3.3t | HK$7.4t | HK$353.9b | 8.2x | 9.5x | 0.5x |
| Tue, 05 Dec 2023 | HK$3.2t | HK$7.4t | HK$355.5b | 8.2x | 9.1x | 0.4x |
| Thu, 02 Nov 2023 | HK$3.1t | HK$7.2t | HK$349.2b | 8x | 9x | 0.4x |
| Sat, 30 Sep 2023 | HK$3.3t | HK$7.2t | HK$351.5b | 8.1x | 9.4x | 0.5x |
| Mon, 28 Aug 2023 | HK$3.3t | HK$7.2t | HK$371.7b | 8.9x | 9x | 0.5x |
Price to Earnings Ratio
9x
Current Industry PE
- Investors are optimistic on the Hong Kong Industrials industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 13.2x which is higher than its 3-year average PE of 11.6x.
- The industry is trading close to its 3-year average PS ratio of 0.53x.
Past Earnings Growth
- The earnings for companies in the Industrials industry have remained mostly flat over the last three years.
- Meanwhile revenues for these companies have grown 3.8% per year.
- This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased and as a result, profits have held steady.
Industry Trends
Which industries have driven the changes within the Hong Kong Industrials sector?
| HK Market | 1.73% | |
| Industrials | 0.37% | |
| Marine and Shipping | 12.97% | |
| Building | 3.45% | |
| Transportation | 3.24% | |
| Construction | 2.42% | |
| Infrastructure | 2.32% | |
| Trade Distributors | 0.80% | |
| Industrials | 0.74% | |
| Commercial Services | 0.51% | |
| Aerospace & Defense | 0.50% | |
| Professional Services | -0.99% | |
| Airlines | -3.10% | |
| Electrical | -3.47% | |
| Logistics | -4.82% | |
| Machinery | -4.84% | |
Industry PE
- Investors are most optimistic about the Electrical industry which is trading above its 3-year average PE ratio.
- Analysts are expecting annual earnings growth of 22.0%, which is lower than the prior year's growth of 27.7% per year.
Forecasted Growth
- Analysts are most optimistic on the Airlines industry, expecting annual earnings growth of 39% over the next 5 years.
- This is roughly in line with its past earnings growth rate.
- In contrast, the Transportation industry is expected to see its earnings decline by 22% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| 1919 COSCO SHIPPING Holdings | HK$17.03 | 11.8% +HK$27.1b | 17.2% | PE8.8x | |
| 1308 SITC International Holdings | HK$46.54 | 14.6% +HK$16.1b | 55.0% | PE12.7x | |
| 267 CITIC | HK$12.42 | 4.5% +HK$15.4b | 7.6% | PE5.3x | |
| 316 Orient Overseas (International) | HK$169.00 | 15.4% +HK$14.9b | 15.0% | PE9.4x | |
| 2442 Easy Smart Group Holdings | HK$92.90 | 34.4% +HK$9.7b | 3,290.5% | PS140.3x |