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Hong Kong (HSI) Industrials Sector Analysis

UpdatedApr 22, 2026
DataAggregated Company Financials
Companies483
  • 7D1.0%
  • 3M4.9%
  • 1Y40.0%
  • YTD9.1%

Last week, the Industrials industry hasn't moved much but MTR is up 5.6% in that time. As for the the longer term, the industry is up 40% over the past 12 months. As for the next few years, earnings are expected to grow by 14% per annum.

Sector Valuation and Performance

Has the Hong Kong Industrials Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 22 Apr 2026HK$5.3tHK$7.9tHK$322.1b11.8x16.3x0.7x
Fri, 20 Mar 2026HK$4.9tHK$7.9tHK$352.0b11.7x13.9x0.6x
Sun, 15 Feb 2026HK$5.1tHK$7.9tHK$358.5b11.5x14.1x0.6x
Tue, 13 Jan 2026HK$4.7tHK$7.8tHK$356.2b11.2x13.2x0.6x
Thu, 11 Dec 2025HK$4.5tHK$7.7tHK$351.2b11.1x12.7x0.6x
Sat, 08 Nov 2025HK$4.6tHK$7.6tHK$348.8b11.3x13.1x0.6x
Mon, 06 Oct 2025HK$4.4tHK$7.6tHK$355.3b11.1x12.4x0.6x
Wed, 03 Sep 2025HK$4.4tHK$7.8tHK$354.2b10.4x12.5x0.6x
Fri, 01 Aug 2025HK$4.4tHK$7.8tHK$365.8b10.4x12.2x0.6x
Sun, 29 Jun 2025HK$4.2tHK$7.8tHK$366.2b9.9x11.5x0.5x
Tue, 27 May 2025HK$4.1tHK$7.8tHK$364.3b10.1x11.4x0.5x
Thu, 24 Apr 2025HK$3.8tHK$7.7tHK$356.6b9.4x10.7x0.5x
Sat, 22 Mar 2025HK$4.0tHK$7.7tHK$363.0b9.2x11x0.5x
Mon, 17 Feb 2025HK$3.9tHK$7.6tHK$373.5b8.9x10.5x0.5x
Wed, 15 Jan 2025HK$3.8tHK$7.5tHK$371.1b8.6x10.2x0.5x
Fri, 13 Dec 2024HK$4.0tHK$7.6tHK$373.5b8.7x10.8x0.5x
Sun, 10 Nov 2024HK$4.1tHK$7.7tHK$375.3b8.8x10.9x0.5x
Tue, 08 Oct 2024HK$4.3tHK$7.7tHK$361.5b9.4x11.8x0.5x
Thu, 05 Sep 2024HK$3.5tHK$7.7tHK$359.9b8.3x9.7x0.5x
Sat, 03 Aug 2024HK$3.6tHK$7.6tHK$358.9b8.1x10.1x0.5x
Mon, 01 Jul 2024HK$3.6tHK$7.4tHK$326.4b8.7x11.1x0.5x
Wed, 29 May 2024HK$3.8tHK$7.4tHK$330.3b8.7x11.6x0.5x
Fri, 26 Apr 2024HK$3.5tHK$7.4tHK$328.0b8.3x10.7x0.5x
Sun, 24 Mar 2024HK$3.4tHK$7.3tHK$327.0b7.7x10.5x0.5x
Tue, 20 Feb 2024HK$3.3tHK$7.3tHK$351.7b7.8x9.4x0.5x
Thu, 18 Jan 2024HK$3.2tHK$7.4tHK$352.8b7.9x9.1x0.4x
Sat, 16 Dec 2023HK$3.3tHK$7.4tHK$355.6b8.1x9.3x0.4x
Mon, 13 Nov 2023HK$3.1tHK$7.2tHK$349.8b8x9x0.4x
Wed, 11 Oct 2023HK$3.2tHK$7.2tHK$351.7b8x9.1x0.4x
Fri, 08 Sep 2023HK$3.3tHK$7.2tHK$350.5b8.3x9.5x0.5x
Sun, 06 Aug 2023HK$3.6tHK$7.2tHK$402.2b9.5x9x0.5x
Tue, 04 Jul 2023HK$3.6tHK$7.2tHK$413.3b9.4x8.8x0.5x
Thu, 01 Jun 2023HK$3.5tHK$7.3tHK$416.0b9.1x8.5x0.5x
Sat, 29 Apr 2023HK$3.9tHK$7.4tHK$437.2b9.5x8.8x0.5x
Price to Earnings Ratio

8.8x


Total Market Cap: HK$3.9tTotal Earnings: HK$437.2bTotal Revenue: HK$7.4tTotal Market Cap vs Earnings and Revenue0%0%0%
Hong Kong Industrials Sector Price to Earnings3Y Average 10.9x202420252026
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 16.2x 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 9.2% per year over the last three years.
  • Meanwhile revenues for these companies have grown 2.2% 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 Market1.66%
Industrials0.96%
Professional Services46.93%
Airlines6.76%
Transportation5.04%
Aerospace & Defense3.09%
Infrastructure1.81%
Logistics1.81%
Trade Distributors1.39%
Commercial Services1.01%
Machinery0.71%
Construction0.45%
Electrical0.29%
Industrials-0.23%
Building-0.93%
Marine and Shipping-2.74%
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 46% 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?

CompanyLast Price7D1YValuation
66 MTRHK$34.905.6%
+HK$11.5b		33.0%PE14.8x
2225 Jinhai Medical TechnologyHK$4.3769.4%
+HK$9.5b		241.4%PS81.1x
1072 Dongfang ElectricHK$41.545.9%
+HK$8.0b		294.1%PE32.6x
753 Air ChinaHK$5.298.6%
+HK$7.3b		8.6%PS0.5x
1729 Time Interconnect TechnologyHK$21.8817.4%
+HK$6.8b		488.2%PE58.4x

Latest News

66
HK$34.90
MTR
7D
5.6%
1Y
33.0%

66: Housing Recovery Exposure And Elevated P/E Will Shape Future Returns

Analysts have lifted their HK$ price target for MTR to HK$32.15 from HK$28.41, reflecting updated assumptions on profit margin, long term P/E and housing market exposure, even as some recent research has shifted its rating stance. Analyst Commentary Bullish Takeaways Bullish analysts highlight the higher HK$36.10 target as a sign that, on their assumptions, current pricing still leaves room for re rating if earnings and housing related contributions meet expectations.
1
HK$64.90
CK Hutchison Holdings
7D
1.3%
1Y
49.9%
669
HK$114.80
Techtronic Industries
7D
2.2%
1Y
50.4%
2655
HK$36.74
Guoxia Technology
7D
-42.1%
1Y
n/a
316
HK$138.40
Orient Overseas (International)
7D
-5.5%
1Y
31.9%
2225
HK$4.37
Jinhai Medical Technology
7D
69.4%
1Y
241.4%
293
HK$12.01
Cathay Pacific Airways
7D
3.6%
1Y
35.7%

293: Share Buyback Will Support Upside As Higher P/E Case Persists

Analysts have trimmed their price target on Cathay Pacific Airways to HK$18.0, reflecting slightly higher assumed discount rates and only modestly adjusted expectations for revenue, profit margins, and future P/E multiples following the recent downgrade in Street research. Analyst Commentary Recent Street research has turned more cautious, with at least one major house shifting to a more bearish stance on Cathay Pacific Airways.
267
HK$12.74
CITIC
7D
-1.8%
1Y
39.4%

267: Higher Dividend Outlook And Stable Assumptions Will Shape Future Repricing

Analysts have slightly lifted their HK$ fair value estimate for CITIC from about HK$13.77 to HK$13.90. This reflects updated assumptions for a smaller revenue decline, a lower profit margin and a higher future P/E multiple.
1729
HK$21.88
Time Interconnect Technology
7D
17.4%
1Y
488.2%
2650
HK$37.50
Shanghai Zhida Technology Development
7D
-24.8%
1Y
n/a
1735
HK$8.85
Central New Energy Holding Group
7D
-4.6%
1Y
-6.8%
1072
HK$41.54
Dongfang Electric
7D
5.9%
1Y
294.1%
3808
HK$43.30
Sinotruk (Hong Kong)
7D
-4.2%
1Y
129.6%

Sinotruk (Hong Kong) Limited (HKG:3808) Released Earnings Last Week And Analysts Lifted Their Price Target To HK$37.87

Mar 30
Sinotruk (Hong Kong) Limited (HKG:3808) Released Earnings Last Week And Analysts Lifted Their Price Target To HK$37.87
753
HK$5.29
Air China
7D
8.6%
1Y
8.6%
1919
HK$14.74
COSCO SHIPPING Holdings
7D
-3.9%
1Y
32.1%
9900
HK$4.07
Hong Kong Zcloud Technology Construction
7D
-11.5%
1Y
142.6%