Return Trends At Qinhuangdao Port (HKG:3369) Aren't Appealing
Jun 15
Hong Kong (HSI) Infrastructure Industry Analysis
UpdatedJun 15, 2024
DataAggregated Company Financials
Companies26
- 7D-1.2%
- 3M12.1%
- 1Y6.2%
- YTD14.3%
Over the last 7 days, the Infrastructure industry has dropped 1.2%, driven by China Merchants Port Holdings declining 3.9%. In the past year, the industry has gained 6.2%. As for the next few years, earnings are expected to grow by 12% per annum.
Industry Valuation and Performance
Has the Hong Kong Infrastructure Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sun, 16 Jun 2024 | HK$389.3b | HK$190.7b | HK$37.4b | 8x | 10.4x | 2x |
| Tue, 14 May 2024 | HK$397.8b | HK$191.1b | HK$37.5b | 8.3x | 10.6x | 2.1x |
| Thu, 11 Apr 2024 | HK$366.7b | HK$190.8b | HK$37.1b | 7.3x | 9.9x | 1.9x |
| Sat, 09 Mar 2024 | HK$368.6b | HK$177.9b | HK$34.5b | 6.9x | 10.7x | 2.1x |
| Mon, 05 Feb 2024 | HK$356.7b | HK$206.7b | HK$34.9b | 7.4x | 10.2x | 1.7x |
| Wed, 03 Jan 2024 | HK$358.3b | HK$208.1b | HK$35.0b | 7.2x | 10.2x | 1.7x |
| Fri, 01 Dec 2023 | HK$339.0b | HK$208.0b | HK$35.0b | 6.8x | 9.7x | 1.6x |
| Sun, 29 Oct 2023 | HK$334.4b | HK$203.4b | HK$34.4b | 6.6x | 9.7x | 1.6x |
| Tue, 26 Sep 2023 | HK$348.4b | HK$203.5b | HK$33.9b | 6.7x | 10.3x | 1.7x |
| Thu, 24 Aug 2023 | HK$346.0b | HK$202.0b | HK$34.1b | 7.5x | 10.1x | 1.7x |
| Sat, 22 Jul 2023 | HK$359.8b | HK$203.3b | HK$34.1b | 7.2x | 10.6x | 1.8x |
| Mon, 19 Jun 2023 | HK$370.6b | HK$215.0b | HK$33.7b | 7.4x | 11x | 1.7x |
| Wed, 17 May 2023 | HK$402.4b | HK$217.9b | HK$34.2b | 8.5x | 11.8x | 1.8x |
| Fri, 14 Apr 2023 | HK$376.8b | HK$224.2b | HK$29.3b | 8.6x | 12.9x | 1.7x |
| Sun, 12 Mar 2023 | HK$372.0b | HK$223.4b | HK$37.4b | 6.5x | 9.9x | 1.7x |
| Tue, 07 Feb 2023 | HK$374.2b | HK$225.8b | HK$38.8b | 6.2x | 9.6x | 1.7x |
| Thu, 05 Jan 2023 | HK$373.1b | HK$223.6b | HK$38.4b | 6.1x | 9.7x | 1.7x |
| Sat, 03 Dec 2022 | HK$351.6b | HK$220.2b | HK$37.7b | 5.8x | 9.3x | 1.6x |
| Mon, 31 Oct 2022 | HK$299.3b | HK$218.9b | HK$36.9b | 4.7x | 8.1x | 1.4x |
| Wed, 28 Sep 2022 | HK$326.5b | HK$217.4b | HK$36.5b | 5.6x | 8.9x | 1.5x |
| Fri, 26 Aug 2022 | HK$354.6b | HK$222.7b | HK$40.3b | 5.9x | 8.8x | 1.6x |
| Sun, 24 Jul 2022 | HK$372.3b | HK$220.3b | HK$42.7b | 5.6x | 8.7x | 1.7x |
| Tue, 21 Jun 2022 | HK$377.1b | HK$221.1b | HK$42.8b | 6x | 8.8x | 1.7x |
| Thu, 19 May 2022 | HK$368.9b | HK$219.2b | HK$42.3b | 6.2x | 8.7x | 1.7x |
| Sat, 16 Apr 2022 | HK$400.6b | HK$226.0b | HK$45.5b | 5.7x | 8.8x | 1.8x |
| Mon, 14 Mar 2022 | HK$441.8b | HK$218.3b | HK$42.2b | 5.4x | 10.5x | 2x |
| Wed, 09 Feb 2022 | HK$418.4b | HK$214.6b | HK$42.0b | 5.9x | 10x | 1.9x |
| Fri, 07 Jan 2022 | HK$409.3b | HK$214.5b | HK$42.0b | 46.6x | 9.7x | 1.9x |
| Sun, 05 Dec 2021 | HK$399.1b | HK$214.2b | HK$42.0b | 5.7x | 9.5x | 1.9x |
| Tue, 02 Nov 2021 | HK$386.2b | HK$206.5b | HK$42.9b | 5.4x | 9x | 1.9x |
| Thu, 30 Sep 2021 | HK$395.4b | HK$202.4b | HK$43.1b | 5.4x | 9.2x | 2x |
| Sat, 28 Aug 2021 | HK$374.3b | HK$202.2b | HK$43.0b | 5.9x | 8.7x | 1.9x |
| Sun, 04 Jul 2021 | HK$391.7b | HK$202.2b | HK$43.0b | 6.1x | 9.1x | 1.9x |
Price to Earnings Ratio
9.1x
Current Industry PE
- Investors are relatively neutral on the Hong Kong Infrastructure industry at the moment, indicating that they anticipate long term growth rates to remain steady.
- The industry is trading close to its 3-year average PE ratio of 9.8x.
- The 3-year average PS ratio of 1.8x is lower than the industry's current PS ratio of 2.0x.
Past Earnings Growth
- The earnings for companies in the Infrastructure industry have declined 4.5% per year over the last three years.
- Meanwhile revenues have remained mostly flat.
- This means that although sales have remained flat, 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 industry?
| HK Market | -1.82% | |
| Industrials | -3.19% | |
| Infrastructure | -1.21% | |
| Highways and Railtracks | -0.42% | |
| Marine Ports and Services | -1.85% | |
| Airport Services | -2.48% | |
Industry PE
- Investors are most optimistic about the Marine Ports and Services industry, which is trading close to its 3-year average PE ratio of 9.3x.
- Analysts are expecting annual earnings growth of 5.7%, which is lower than the prior year's growth of 8.4% per year.
Forecasted Growth
- Analysts are most optimistic on the Airport Services industry, expecting annual earnings growth of 98% over the next 5 years.
- In contrast, the Marine Ports and Services industry is expected to see its earnings grow by 5.7% 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 | |
|---|---|---|---|---|---|
| 152 Shenzhen International Holdings | HK$6.81 | 4.0% +HK$622.2m | 0.6% | PE8.6x | |
| 3369 Qinhuangdao Port | HK$1.92 | 5.5% +HK$558.7m | 35.2% | PE6.4x | |
| 995 Anhui Expressway | HK$9.81 | 3.2% +HK$497.6m | 33.3% | PE9.1x | |
| 107 Sichuan Expressway | HK$3.53 | 1.1% +HK$122.3m | 60.5% | PE8.9x | |
| 737 Shenzhen Investment Holdings Bay Area Development | HK$1.81 | 1.7% +HK$92.5m | 0% | PE9.7x |
