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Hong Kong (HSI) Industrials Sector Analysis
UpdatedMar 16, 2026
DataAggregated Company Financials
Companies482
- 7D-3.3%
- 3M9.0%
- 1Y27.5%
- YTD8.3%
Over the last 7 days, the Industrials industry has dropped 3.3%, driven by a pullback from Weichai Power of 11%. Meanwhile, JD Logistics actually outperformed within the industry, gaining 8.0% in the last week. This takes the industry's 12 month performance to a gain of 28%. As for the next few years, earnings are expected to grow by 15% per annum.
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 |
|---|---|---|---|---|---|---|
| Mon, 16 Mar 2026 | HK$5.0t | HK$7.9t | HK$354.1b | 11.5x | 14.1x | 0.6x |
| Wed, 11 Feb 2026 | HK$5.1t | HK$7.9t | HK$359.3b | 11.6x | 14.1x | 0.6x |
| Fri, 09 Jan 2026 | HK$4.6t | HK$7.8t | HK$355.6b | 11x | 13.1x | 0.6x |
| Sun, 07 Dec 2025 | HK$4.6t | HK$7.7t | HK$351.0b | 11x | 13x | 0.6x |
| Tue, 04 Nov 2025 | HK$4.5t | HK$7.6t | HK$348.7b | 11.1x | 12.9x | 0.6x |
| Thu, 02 Oct 2025 | HK$4.4t | HK$7.6t | HK$356.2b | 11.1x | 12.3x | 0.6x |
| Sat, 30 Aug 2025 | HK$4.5t | HK$7.9t | HK$355.3b | 11x | 12.6x | 0.6x |
| Mon, 28 Jul 2025 | HK$4.6t | HK$7.8t | HK$366.7b | 10.6x | 12.4x | 0.6x |
| Wed, 25 Jun 2025 | HK$4.2t | HK$7.8t | HK$366.0b | 10.3x | 11.6x | 0.5x |
| Fri, 23 May 2025 | HK$4.1t | HK$7.8t | HK$363.3b | 10.1x | 11.4x | 0.5x |
| Sun, 20 Apr 2025 | HK$3.8t | HK$7.7t | HK$356.4b | 9.2x | 10.6x | 0.5x |
| Tue, 18 Mar 2025 | HK$4.0t | HK$7.7t | HK$375.3b | 9.3x | 10.8x | 0.5x |
| Thu, 13 Feb 2025 | HK$3.9t | HK$7.6t | HK$372.0b | 8.9x | 10.4x | 0.5x |
| Sat, 11 Jan 2025 | HK$3.8t | HK$7.5t | HK$371.2b | 8.6x | 10.1x | 0.5x |
| Mon, 09 Dec 2024 | HK$4.0t | HK$7.6t | HK$373.6b | 8.5x | 10.6x | 0.5x |
| Wed, 06 Nov 2024 | HK$4.1t | HK$7.7t | HK$377.6b | 8.7x | 10.8x | 0.5x |
| Fri, 04 Oct 2024 | HK$4.1t | HK$7.7t | HK$361.1b | 9x | 11.3x | 0.5x |
| Sun, 01 Sep 2024 | HK$3.6t | HK$7.7t | HK$362.1b | 8.3x | 10x | 0.5x |
| Tue, 30 Jul 2024 | HK$3.5t | HK$7.4t | HK$327.5b | 8.3x | 10.7x | 0.5x |
| Thu, 27 Jun 2024 | HK$3.6t | HK$7.4t | HK$328.3b | 8.6x | 11.1x | 0.5x |
| Sat, 25 May 2024 | HK$3.8t | HK$7.4t | HK$330.4b | 8.6x | 11.4x | 0.5x |
| Mon, 22 Apr 2024 | HK$3.5t | HK$7.4t | HK$328.4b | 8.2x | 10.6x | 0.5x |
| Wed, 20 Mar 2024 | HK$3.5t | HK$7.3t | HK$363.4b | 7.6x | 9.5x | 0.5x |
| Fri, 16 Feb 2024 | HK$3.3t | HK$7.3t | HK$353.9b | 7.4x | 9.2x | 0.4x |
| Sun, 14 Jan 2024 | HK$3.3t | HK$7.4t | HK$353.5b | 8.2x | 9.4x | 0.4x |
| Tue, 12 Dec 2023 | HK$3.2t | HK$7.4t | HK$353.9b | 8.1x | 8.9x | 0.4x |
| Thu, 09 Nov 2023 | HK$3.2t | HK$7.3t | HK$350.3b | 7.9x | 9.1x | 0.4x |
| Sat, 07 Oct 2023 | HK$3.3t | HK$7.2t | HK$352.0b | 8x | 9.2x | 0.5x |
| Mon, 04 Sep 2023 | HK$3.4t | HK$7.2t | HK$353.1b | 8.5x | 9.6x | 0.5x |
| Wed, 02 Aug 2023 | HK$3.7t | HK$7.2t | HK$409.5b | 9.3x | 9.1x | 0.5x |
| Fri, 30 Jun 2023 | HK$3.6t | HK$7.2t | HK$413.3b | 9.4x | 8.6x | 0.5x |
| Sun, 28 May 2023 | HK$3.6t | HK$7.3t | HK$417.4b | 9.2x | 8.6x | 0.5x |
| Tue, 25 Apr 2023 | HK$3.8t | HK$7.4t | HK$430.2b | 9.6x | 8.9x | 0.5x |
| Thu, 23 Mar 2023 | HK$3.8t | HK$7.3t | HK$460.2b | 8.7x | 8.2x | 0.5x |
Price to Earnings Ratio
8.2x
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 14.1x which is higher than its 3-year average PE of 10.7x.
- The industry is trading close to its 3-year average PS ratio of 0.51x.
Past Earnings Growth
- The earnings for companies in the Industrials industry have declined 8.5% per year over the last three years.
- Meanwhile revenues for these companies have grown 2.7% 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, which has decreased profits.
Industry Trends
Which industries have driven the changes within the Hong Kong Industrials sector?
| HK Market | -0.31% | |
| Industrials | -3.29% | |
| Professional Services | 2.38% | |
| Construction | 2.09% | |
| Trade Distributors | 0.89% | |
| Logistics | 0.53% | |
| Commercial Services | -0.70% | |
| Infrastructure | -0.93% | |
| Building | -2.52% | |
| Industrials | -2.68% | |
| Marine and Shipping | -3.92% | |
| Electrical | -5.74% | |
| Machinery | -6.62% | |
| Airlines | -6.98% | |
| Transportation | -7.67% | |
| Aerospace & Defense | -7.97% | |
Industry PE
- Investors are most optimistic about the Machinery industry which is trading above its 3-year average PE ratio of 17.0x.
- Analysts are expecting annual earnings growth of 19.7%, which is higher than its past year's earnings growth of 6.8% per year.
Forecasted Growth
- Analysts are most optimistic on the Airlines industry, expecting annual earnings growth of 70% over the next 5 years.
- This is better than its past earnings growth rate of 13% per year.
- In contrast, the Marine and Shipping industry is expected to see its earnings decline by 26% 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 | |
|---|---|---|---|---|---|
| 2618 JD Logistics | HK$13.64 | 8.0% +HK$6.2b | 1.3% | PE11.2x | |
| 19 Swire Pacific | HK$85.30 | 4.9% +HK$5.3b | 23.8% | PE39.2x | |
| 7618 JINGDONG Industrials | HK$13.38 | 16.7% +HK$5.1b | n/a | PE13.7x | |
| 1757 Global Chinese Business Club | HK$20.38 | 21.2% +HK$4.3b | 20,078.2% | PE21266.1x | |
| 3996 China Energy Engineering | HK$1.46 | 6.6% +HK$3.8b | 41.7% | PE6.7x |
