Investors Met With Slowing Returns on Capital At HK Electric Investments and HK Electric Investments (HKG:2638)
Nov 07
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Hong Kong (HSI) Electric Utilities Industry Analysis
UpdatedNov 08, 2025
DataAggregated Company Financials
Companies6
- 7D3.0%
- 3M-1.9%
- 1Y2.3%
- YTD0.7%
In the last week, the Electric Utilities industry is up 1.9%, with CK Infrastructure Holdings up 4.7%. Overall in the last year, the industry is flat. Looking forward, earnings are forecast to grow by 3.9% annually.
Industry Valuation and Performance
Has the Hong Kong Electric Utilities Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sat, 08 Nov 2025 | HK$469.9b | HK$114.1b | HK$29.3b | 15.7x | 16x | 4.1x |
| Mon, 06 Oct 2025 | HK$456.7b | HK$114.1b | HK$29.3b | 15.2x | 15.6x | 4x |
| Wed, 03 Sep 2025 | HK$461.9b | HK$114.1b | HK$29.3b | 15.4x | 15.7x | 4x |
| Fri, 01 Aug 2025 | HK$479.2b | HK$115.6b | HK$29.5b | 17.3x | 16.2x | 4.1x |
| Sun, 29 Jun 2025 | HK$460.8b | HK$115.6b | HK$29.5b | 16.2x | 15.6x | 4x |
| Tue, 27 May 2025 | HK$455.7b | HK$115.6b | HK$29.5b | 15.9x | 15.4x | 3.9x |
| Thu, 24 Apr 2025 | HK$449.8b | HK$115.6b | HK$29.5b | 15.4x | 15.2x | 3.9x |
| Sat, 22 Mar 2025 | HK$435.5b | HK$115.5b | HK$29.5b | 15.1x | 14.8x | 3.8x |
| Mon, 17 Feb 2025 | HK$444.3b | HK$112.6b | HK$25.2b | 16.6x | 17.6x | 3.9x |
| Wed, 15 Jan 2025 | HK$454.1b | HK$112.5b | HK$25.2b | 17.3x | 18x | 4x |
| Fri, 13 Dec 2024 | HK$457.2b | HK$112.5b | HK$25.2b | 17.4x | 18.1x | 4.1x |
| Sun, 10 Nov 2024 | HK$459.6b | HK$112.6b | HK$25.2b | 17.3x | 18.2x | 4.1x |
| Tue, 08 Oct 2024 | HK$457.6b | HK$112.7b | HK$25.2b | 16.7x | 18.2x | 4.1x |
| Thu, 05 Sep 2024 | HK$480.5b | HK$112.7b | HK$25.2b | 18.3x | 19.1x | 4.3x |
| Sat, 03 Aug 2024 | HK$468.1b | HK$112.0b | HK$24.2b | 17.6x | 19.3x | 4.2x |
| Mon, 01 Jul 2024 | HK$406.6b | HK$112.0b | HK$24.2b | 14.4x | 16.8x | 3.6x |
| Wed, 29 May 2024 | HK$425.7b | HK$112.0b | HK$24.2b | 15.3x | 17.6x | 3.8x |
| Fri, 26 Apr 2024 | HK$411.1b | HK$112.0b | HK$24.2b | 15.1x | 17x | 3.7x |
| Sun, 24 Mar 2024 | HK$420.5b | HK$112.0b | HK$24.2b | 14.1x | 17.4x | 3.8x |
| Tue, 20 Feb 2024 | HK$420.6b | HK$121.4b | HK$27.5b | 14.4x | 15.3x | 3.5x |
| Thu, 18 Jan 2024 | HK$398.2b | HK$121.4b | HK$27.5b | 14x | 14.5x | 3.3x |
| Sat, 16 Dec 2023 | HK$407.3b | HK$121.5b | HK$27.5b | 14x | 14.8x | 3.4x |
| Mon, 13 Nov 2023 | HK$357.9b | HK$121.4b | HK$27.5b | 12.3x | 13x | 2.9x |
| Wed, 11 Oct 2023 | HK$356.1b | HK$121.4b | HK$27.5b | 12.5x | 12.9x | 2.9x |
| Fri, 08 Sep 2023 | HK$369.9b | HK$121.4b | HK$27.5b | 12.9x | 13.4x | 3x |
| Sun, 06 Aug 2023 | HK$386.6b | HK$125.3b | HK$17.6b | 13.6x | 21.9x | 3.1x |
| Tue, 04 Jul 2023 | HK$390.8b | HK$124.6b | HK$17.6b | 13.8x | 22.2x | 3.1x |
| Thu, 01 Jun 2023 | HK$386.5b | HK$124.7b | HK$17.6b | 14.1x | 21.9x | 3.1x |
| Sat, 29 Apr 2023 | HK$401.1b | HK$124.9b | HK$17.6b | 14.7x | 22.8x | 3.2x |
| Mon, 27 Mar 2023 | HK$385.4b | HK$124.6b | HK$17.6b | 15.3x | 21.9x | 3.1x |
| Wed, 22 Feb 2023 | HK$392.3b | HK$115.0b | HK$17.7b | 13.2x | 22.2x | 3.4x |
| Fri, 20 Jan 2023 | HK$399.5b | HK$115.0b | HK$17.7b | 13.4x | 22.6x | 3.5x |
| Sun, 18 Dec 2022 | HK$371.9b | HK$114.9b | HK$17.7b | 12.4x | 21.1x | 3.2x |
| Tue, 15 Nov 2022 | HK$375.8b | HK$114.8b | HK$17.7b | 11.8x | 21.3x | 3.3x |
Price to Earnings Ratio
21.3x
Current Industry PE
- Investors are pessimistic on the Hong Kong Electric Utilities industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The industry is trading at a PE ratio of 15.9x which is lower than its 3-year average PE of 17.7x.
- The 3-year average PS ratio of 3.6x is lower than the industry's current PS ratio of 4.1x.
Past Earnings Growth
- The earnings for companies in the Electric Utilities industry have grown 18% per year over the last three years, while revenues have remained mostly flat.
- This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.
Industry Trends
Which industries have driven the changes within the Hong Kong Utilities industry?
| HK Market | 1.91% | |
| Utilities | 3.01% | |
| Electric Utilities | 2.98% | |
| Electric Utilities | 2.98% | |
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| 1038 CK Infrastructure Holdings | HK$52.95 | 4.7% +HK$6.0b | -1.6% | PE16.4x | |
| 2 CLP Holdings | HK$67.70 | 2.1% +HK$3.5b | 2.1% | PE15x | |
| 6 Power Assets Holdings | HK$50.95 | 3.2% +HK$3.4b | 0.7% | PE17.6x | |
| 2638 HK Electric Investments and HK Electric Investments | HK$6.12 | 1.3% +HK$706.9m | 16.6% | PE17.1x |
