CK Hutchison Holdings' (HKG:1) Soft Earnings Are Actually Better Than They Appear
Apr 24
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Hong Kong (HSI) Industrials Sector Analysis
UpdatedApr 26, 2026
DataAggregated Company Financials
Companies483
- 7D0.7%
- 3M3.7%
- 1Y38.3%
- YTD8.9%
Last week, the Industrials industry hasn't moved much but Weichai Power is up 13% in that time. The past year has been better, since the industry has gained 38% in that time. Looking forward, earnings are forecast to grow by 14% 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 |
|---|---|---|---|---|---|---|
| Sun, 26 Apr 2026 | HK$5.2t | HK$7.9t | HK$321.7b | 11.7x | 16.3x | 0.7x |
| Tue, 24 Mar 2026 | HK$4.7t | HK$7.9t | HK$347.4b | 11.3x | 13.6x | 0.6x |
| Thu, 19 Feb 2026 | HK$5.1t | HK$7.9t | HK$358.4b | 11.7x | 14.2x | 0.6x |
| Sat, 17 Jan 2026 | HK$4.8t | HK$7.8t | HK$356.4b | 11.2x | 13.3x | 0.6x |
| Mon, 15 Dec 2025 | HK$4.6t | HK$7.7t | HK$352.6b | 11.4x | 12.9x | 0.6x |
| Wed, 12 Nov 2025 | HK$4.6t | HK$7.6t | HK$348.7b | 11.2x | 13.2x | 0.6x |
| Fri, 10 Oct 2025 | HK$4.5t | HK$7.6t | HK$355.3b | 11.3x | 12.5x | 0.6x |
| Sun, 07 Sep 2025 | HK$4.4t | HK$7.8t | HK$354.3b | 10.6x | 12.5x | 0.6x |
| Tue, 05 Aug 2025 | HK$4.4t | HK$7.8t | HK$364.6b | 10.5x | 12.2x | 0.6x |
| Thu, 03 Jul 2025 | HK$4.3t | HK$7.8t | HK$366.4b | 9.9x | 11.6x | 0.5x |
| Sat, 31 May 2025 | HK$4.1t | HK$7.8t | HK$364.4b | 10.1x | 11.3x | 0.5x |
| Mon, 28 Apr 2025 | HK$3.8t | HK$7.7t | HK$356.4b | 9.4x | 10.7x | 0.5x |
| Wed, 26 Mar 2025 | HK$4.0t | HK$7.7t | HK$368.8b | 9.5x | 10.9x | 0.5x |
| Fri, 21 Feb 2025 | HK$3.9t | HK$7.6t | HK$373.1b | 8.9x | 10.4x | 0.5x |
| Sun, 19 Jan 2025 | HK$3.8t | HK$7.6t | HK$371.4b | 8.7x | 10.3x | 0.5x |
| Tue, 17 Dec 2024 | HK$3.9t | HK$7.6t | HK$372.9b | 8.7x | 10.5x | 0.5x |
| Thu, 14 Nov 2024 | HK$4.0t | HK$7.6t | HK$374.3b | 8.6x | 10.6x | 0.5x |
| Sat, 12 Oct 2024 | HK$4.0t | HK$7.7t | HK$360.1b | 9x | 11.1x | 0.5x |
| Mon, 09 Sep 2024 | HK$3.5t | HK$7.7t | HK$360.5b | 8.1x | 9.7x | 0.5x |
| Wed, 07 Aug 2024 | HK$3.6t | HK$7.6t | HK$360.4b | 8x | 9.9x | 0.5x |
| Fri, 05 Jul 2024 | HK$3.6t | HK$7.4t | HK$326.3b | 8.9x | 11.1x | 0.5x |
| Sun, 02 Jun 2024 | HK$3.8t | HK$7.5t | HK$330.7b | 8.7x | 11.4x | 0.5x |
| Tue, 30 Apr 2024 | HK$3.5t | HK$7.4t | HK$329.6b | 8.2x | 10.8x | 0.5x |
| Thu, 28 Mar 2024 | HK$3.5t | HK$7.4t | HK$313.1b | 7.7x | 11.2x | 0.5x |
| Sat, 24 Feb 2024 | HK$3.4t | HK$7.3t | HK$351.8b | 7.8x | 9.7x | 0.5x |
| Mon, 22 Jan 2024 | HK$3.2t | HK$7.4t | HK$353.8b | 7.8x | 9x | 0.4x |
| Wed, 20 Dec 2023 | HK$3.3t | HK$7.4t | HK$354.4b | 8.2x | 9.2x | 0.4x |
| Fri, 17 Nov 2023 | HK$3.3t | HK$7.3t | HK$349.1b | 8x | 9.3x | 0.4x |
| Sun, 15 Oct 2023 | HK$3.2t | HK$7.2t | HK$350.8b | 8.1x | 9.2x | 0.4x |
| Tue, 12 Sep 2023 | HK$3.4t | HK$7.2t | HK$351.2b | 8.2x | 9.5x | 0.5x |
| Thu, 10 Aug 2023 | HK$3.6t | HK$7.2t | HK$402.0b | 9x | 9x | 0.5x |
| Sat, 08 Jul 2023 | HK$3.5t | HK$7.2t | HK$413.8b | 9.2x | 8.6x | 0.5x |
| Mon, 05 Jun 2023 | HK$3.6t | HK$7.3t | HK$416.1b | 9.2x | 8.6x | 0.5x |
| Wed, 03 May 2023 | HK$3.9t | HK$7.4t | HK$420.1b | 9.5x | 9.2x | 0.5x |
Price to Earnings Ratio
9.2x
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 16.3x which is higher than its 3-year average PE of 10.9x.
- The industry is trading close to its 3-year average PS ratio of 0.52x.
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 2.0% 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 | 0.18% | |
| Industrials | 0.65% | |
| Professional Services | 14.15% | |
| Machinery | 3.88% | |
| Infrastructure | 2.33% | |
| Commercial Services | 1.78% | |
| Transportation | 1.23% | |
| Industrials | 1.01% | |
| Building | 0.97% | |
| Construction | 0.42% | |
| Aerospace & Defense | -0.24% | |
| Airlines | -0.86% | |
| Trade Distributors | -1.17% | |
| Logistics | -2.00% | |
| Marine and Shipping | -2.25% | |
| Electrical | -2.44% | |
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 17.1%, which is lower than the prior year's growth of 31.1% per year.
Forecasted Growth
- Analysts are most optimistic on the Airlines industry, expecting annual earnings growth of 47% 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 14% 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 | |
|---|---|---|---|---|---|
| 2338 Weichai Power | HK$35.54 | 12.8% +HK$34.9b | 137.9% | PE24.5x | |
| 669 Techtronic Industries | HK$113.30 | 3.8% +HK$7.5b | 43.8% | PE22.1x | |
| 1 CK Hutchison Holdings | HK$65.25 | 1.9% +HK$4.6b | 50.9% | PE21.1x | |
| 66 MTR | HK$34.62 | 1.7% +HK$3.6b | 31.1% | PE14.7x | |
| 267 CITIC | HK$12.94 | 0.9% +HK$3.5b | 40.7% | PE5.6x |
