Narrative Update • May 12
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- 7D-7.5%
- 3M5.8%
- 1Y8.3%
- YTD9.6%
Over the last 7 days, the Renewable Energy industry has dropped 2.6%, driven by Datang International Power Generation declining 21%. Over the past 12 months, the industry was up 14%. As for the next few years, earnings are expected to grow by 7.6% per annum.
Industry Valuation and Performance
Has the Hong Kong Renewable Energy Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Thu, 21 May 2026 | HK$836.8b | HK$766.6b | HK$58.8b | 10.5x | 14.2x | 1.1x |
| Sat, 18 Apr 2026 | HK$739.9b | HK$773.2b | HK$60.5b | 9.9x | 12.2x | 1x |
| Mon, 16 Mar 2026 | HK$799.7b | HK$784.1b | HK$62.5b | 9.9x | 12.8x | 1x |
| Wed, 11 Feb 2026 | HK$706.1b | HK$781.8b | HK$62.2b | 9.4x | 11.4x | 0.9x |
| Fri, 09 Jan 2026 | HK$711.7b | HK$773.0b | HK$61.5b | 8.8x | 11.6x | 0.9x |
| Sun, 07 Dec 2025 | HK$720.7b | HK$764.3b | HK$60.9b | 8.7x | 11.8x | 0.9x |
| Tue, 04 Nov 2025 | HK$744.1b | HK$759.2b | HK$60.5b | 9.4x | 12.3x | 1x |
| Thu, 02 Oct 2025 | HK$720.6b | HK$769.3b | HK$58.1b | 9.9x | 12.4x | 0.9x |
| Sat, 30 Aug 2025 | HK$864.7b | HK$888.6b | HK$62.3b | 9.7x | 13.9x | 1x |
| Mon, 28 Jul 2025 | HK$861.0b | HK$898.9b | HK$63.1b | 10x | 13.7x | 1x |
| Wed, 25 Jun 2025 | HK$825.1b | HK$898.4b | HK$63.0b | 9.2x | 13.1x | 0.9x |
| Fri, 23 May 2025 | HK$806.2b | HK$896.7b | HK$63.6b | 9.4x | 12.7x | 0.9x |
| Sun, 20 Apr 2025 | HK$743.7b | HK$897.7b | HK$63.1b | 8.7x | 11.8x | 0.8x |
| Tue, 18 Mar 2025 | HK$745.2b | HK$893.4b | HK$54.3b | 9x | 13.7x | 0.8x |
| Thu, 13 Feb 2025 | HK$708.8b | HK$887.3b | HK$54.0b | 8.1x | 13.1x | 0.8x |
| Sat, 11 Jan 2025 | HK$687.0b | HK$884.7b | HK$53.9b | 7.7x | 12.8x | 0.8x |
| Mon, 09 Dec 2024 | HK$757.6b | HK$890.4b | HK$54.2b | 8.4x | 14x | 0.9x |
| Wed, 06 Nov 2024 | HK$795.2b | HK$906.8b | HK$54.9b | 8.7x | 14.5x | 0.9x |
| Fri, 04 Oct 2024 | HK$801.4b | HK$906.1b | HK$58.7b | 9.3x | 13.7x | 0.9x |
| Sun, 01 Sep 2024 | HK$774.6b | HK$902.9b | HK$58.4b | 8.1x | 13.3x | 0.9x |
| Tue, 30 Jul 2024 | HK$834.5b | HK$902.0b | HK$57.2b | 9.2x | 14.6x | 0.9x |
| Thu, 27 Jun 2024 | HK$848.4b | HK$900.6b | HK$57.1b | 9.9x | 14.8x | 0.9x |
| Sat, 25 May 2024 | HK$807.1b | HK$903.1b | HK$58.0b | 9.6x | 13.9x | 0.9x |
| Mon, 22 Apr 2024 | HK$789.6b | HK$903.5b | HK$53.1b | 8.6x | 14.9x | 0.9x |
| Wed, 20 Mar 2024 | HK$759.7b | HK$913.7b | HK$52.4b | 8.6x | 14.5x | 0.8x |
| Fri, 16 Feb 2024 | HK$702.3b | HK$922.3b | HK$53.3b | 7.8x | 13.2x | 0.8x |
| Sun, 14 Jan 2024 | HK$700.9b | HK$917.4b | HK$53.1b | 8.2x | 13.2x | 0.8x |
| Tue, 12 Dec 2023 | HK$663.8b | HK$914.4b | HK$52.9b | 7.7x | 12.5x | 0.7x |
| Thu, 09 Nov 2023 | HK$653.3b | HK$902.5b | HK$52.7b | 7.6x | 12.4x | 0.7x |
| Sat, 07 Oct 2023 | HK$672.8b | HK$903.5b | HK$41.3b | 7.4x | 16.3x | 0.7x |
| Mon, 04 Sep 2023 | HK$685.1b | HK$909.3b | HK$41.5b | 7.8x | 16.5x | 0.8x |
| Wed, 02 Aug 2023 | HK$744.0b | HK$898.9b | HK$36.3b | 8.1x | 20.5x | 0.8x |
| Fri, 30 Jun 2023 | HK$773.4b | HK$885.8b | HK$30.0b | 8.1x | 25.8x | 0.9x |
| Sun, 28 May 2023 | HK$713.9b | HK$903.4b | HK$30.4b | 8.5x | 23.5x | 0.8x |
Price to Earnings Ratio
23.5x
Current Industry PE
- Investors are relatively neutral on the Hong Kong Renewable Energy 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 14.2x.
- The 3-year average PS ratio of 0.87x is lower than the industry's current PS ratio of 1.1x.
Past Earnings Growth
- The earnings for companies in the Renewable Energy industry have grown 25% per year over the last three years.
- Meanwhile revenues for these companies have declined 5.3% per year.
- This means that less sales are being generated overall, but since cost of doing business is lower, profits have been increasing.
Industry Trends
Which industries have driven the changes within the Hong Kong Utilities industry?
| HK Market | -2.80% | |
| Utilities | -3.58% | |
| Renewable Energy | -7.51% | |
| Renewable Energy | -7.07% | |
| Independent Power Producers and Energy Traders | -7.61% | |
Industry PE
- Investors are most optimistic about the Renewable Energy industry which is trading above its 3-year average PE ratio of 19.5x.
- Analysts are expecting annual earnings growth of 15.3%, which is higher than its past year's earnings decline of 26.5% per year.
- Investors are most pessimistic about the Independent Power Producers and Energy Traders industry, which is trading close to its 3-year average of 13.5x.
Forecasted Growth
- Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 15% over the next 5 years.
- This is better than its past earnings decline of 26% per year.
- In contrast, the Independent Power Producers and Energy Traders industry is expected to see its earnings grow by 5.5% 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 | |
|---|---|---|---|---|---|
| 527 China Ruifeng Renewable Energy Holdings | HK$0.60 | 3.4% +HK$34.3m | 25.0% | PS2.2x | |
| 90 Puxing Energy | HK$0.95 | 4.4% +HK$18.3m | 50.8% | PE9.9x |