How does 1038's PE Ratio compare to its peers?

1038 is expensive based on its Price-To-Earnings Ratio (16.9x) compared to the peer average (15.2x).

How does 1038's PE Ratio compare vs other companies in the Asian Electric Utilities Industry?

1038 is good value based on its Price-To-Earnings Ratio (16.9x) compared to the Asian Electric Utilities industry average (17.7x).

What is 1038's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

1038 is expensive based on its Price-To-Earnings Ratio (16.9x) compared to the estimated Fair Price-To-Earnings Ratio (8.6x).

What is the Fair Price of 1038 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

1038 (HK$54.2) is trading above our estimate of [[fair value]] (HK$27.21)

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Target price is less than 20% higher than the current share price.

1038 Stock Overview

An infrastructure company, develops, invests in, operates, and commercializes infrastructure businesses in Hong Kong, Mainland China, the United Kingdom, Continental Europe, Australia, New Zealand, Canada, and the United States. More details

1038 fundamental analysis
Snowflake Score
Valuation	1/6
Future Growth	1/6
Past Performance	4/6
Financial Health	2/6
Dividends	4/6

Rewards

Price-To-Earnings ratio (16.9x) is below the Electric Utilities industry average (17.3x)

Earnings are forecast to grow 5.9% per year

Earnings grew by 6.9% over the past year

Risk Analysis

Dividend of 4.74% is not well covered by free cash flows

My Notes

Capture your thoughts, links and company narrative

CK Infrastructure Holdings Limited Competitors

Power Assets Holdings

SEHK:6

HK$110.3b

CLP Holdings

SEHK:2

HK$161.2b

HK Electric Investments and HK Electric Investments

SEHK:2638

HK$46.3b

Sichuan Energy Investment Development

SEHK:1713

HK$2.3b

Price History & Performance

Summary of share price highs, lows and changes for CK Infrastructure Holdings
Historical stock prices
Current Share Price	HK$54.20
52 Week High	HK$58.80
52 Week Low	HK$42.00
Beta	0.85
1 Month Change	0.46%
3 Month Change	-2.25%
1 Year Change	27.23%
3 Year Change	11.98%
5 Year Change	-2.61%
Change since IPO	-15.90%

Recent updates

Shareholder Returns

	1038	HK Electric Utilities	HK Market
7D	2.2%	-0.9%	-2.2%
1Y	27.2%	12.0%	18.3%

Return vs Industry: 1038 exceeded the Hong Kong Electric Utilities industry which returned 12% over the past year.

Return vs Market: 1038 exceeded the Hong Kong Market which returned 18.3% over the past year.

Price Volatility

Is 1038's price volatile compared to industry and market?
1038 volatility
1038 Average Weekly Movement	3.0%
Electric Utilities Industry Average Movement	2.5%
Market Average Movement	8.9%
10% most volatile stocks in HK Market	18.7%
10% least volatile stocks in HK Market	4.1%

Stable Share Price: 1038 has not had significant price volatility in the past 3 months compared to the Hong Kong market.

Volatility Over Time: 1038's weekly volatility (3%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1996	2,408	Hing Lam Kam	www.cki.com.hk

CK Infrastructure Holdings Limited, an infrastructure company, develops, invests in, operates, and commercializes infrastructure businesses in Hong Kong, Mainland China, the United Kingdom, Continental Europe, Australia, New Zealand, Canada, and the United States. The company invests in energy infrastructure, transportation infrastructure, water infrastructure, waste management, waste-to-energy, household infrastructure, and infrastructure related businesses. It is also involved in the production and laying of asphalt; manufacture, distribution, and sale of cement; and property investment and project management activities.

CK Infrastructure Holdings Limited Fundamentals Summary

How do CK Infrastructure Holdings's earnings and revenue compare to its market cap?
1038 fundamental statistics
Market cap	HK$136.56b
Earnings (TTM)	HK$8.10b
Revenue (TTM)	HK$6.03b

16.9x

P/E Ratio

22.6x

P/S Ratio

Is 1038 overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
1038 income statement (TTM)
Revenue	HK$6.03b
Cost of Revenue	HK$3.75b
Gross Profit	HK$2.28b
Other Expenses	-HK$5.82b
Earnings	HK$8.10b

Last Reported Earnings

Jun 30, 2024

Next Earnings Date

n/a

Earnings per share (EPS)	3.21
Gross Margin	37.83%
Net Profit Margin	134.27%
Debt/Equity Ratio	17.8%

How did 1038 perform over the long term?

See historical performance and comparison

Dividends

4.7%

Current Dividend Yield

80%

Payout Ratio

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2024/12/20 22:18
End of Day Share Price	2024/12/20 00:00
Earnings	2024/06/30
Annual Earnings	2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

CK Infrastructure Holdings Limited is covered by 28 analysts. 11 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Yiu Kei Tung	BNP Paribas Securities (Asia)
Cissy Guan	BofA Global Research
Siti Bte Salikin	CFRA Equity Research

1038 Stock Overview

Rewards

Risk Analysis

CK Infrastructure Holdings Limited Competitors

SEHK:6

HK$110.3b

SEHK:2

HK$161.2b

SEHK:2638

HK$46.3b

SEHK:1713

HK$2.3b

Price History & Performance

Recent News & Updates

Thames Water Receives Buyout Offer from Investment Group Covalis Capital

Upcoming dividend of HK$0.72 per share

First half dividend increased to HK$0.72

CK Infrastructure Holdings Limited (SEHK:1038), CK Asset Holdings Limited (SEHK:1113) and Power Assets Holdings Limited (SEHK:6) agreed to acquire 32 UK Wind Farms from Aviva Investors Global Services Ltd.

First half 2024 earnings released: EPS: HK$1.71 (vs HK$1.68 in 1H 2023)

CK Infrastructure Holdings Limited to Report First Half, 2024 Results on Aug 14, 2024

Recent updates

Thames Water Receives Buyout Offer from Investment Group Covalis Capital

Upcoming dividend of HK$0.72 per share

First half dividend increased to HK$0.72

CK Infrastructure Holdings Limited (SEHK:1038), CK Asset Holdings Limited (SEHK:1113) and Power Assets Holdings Limited (SEHK:6) agreed to acquire 32 UK Wind Farms from Aviva Investors Global Services Ltd.

First half 2024 earnings released: EPS: HK$1.71 (vs HK$1.68 in 1H 2023)

CK Infrastructure Holdings Limited to Report First Half, 2024 Results on Aug 14, 2024

Upcoming dividend of HK$1.85 per share

Full year 2023 earnings released: EPS: HK$3.19 (vs HK$3.08 in FY 2022)

CK Infrastructure Holdings Limited, Annual General Meeting, May 22, 2024

Full year 2023 earnings released: EPS: HK$3.19 (vs HK$3.08 in FY 2022)

CK Infrastructure Holdings Limited Proposes Final Dividend for the Year Ended December 31, 2023, Payable on 12 June 2024

CK Infrastructure Holdings Limited to Report Q4, 2023 Results on Mar 20, 2024

CK Infrastructure Holdings Limited Announces Management Changes, Effective 10th February, 2024

Greencoat Reportedly Eyes Deal for Toucan Energy Services

Upcoming dividend of HK$0.71 per share at 6.6% yield

First half 2023 earnings released: EPS: HK$1.68 (vs HK$1.75 in 1H 2022)

CK Infrastructure Holdings Limited Declares Interim Dividend for the Six Months Ended 30 June, 2023, Payable on 13 September 2023

CK Infrastructure Holdings Limited Announces the Cessation of Chow Woo Mo Fong, Susan as Alternate Director, Effective July 1, 2023

CK Infrastructure Holdings Limited Elects Victor T K Li as Director

Upcoming dividend of HK$1.83 per share at 5.4% yield

Full year 2022 earnings released: EPS: HK$3.08 (vs HK$2.98 in FY 2021)

CKI Reportedly in Hunt for Vector Metering

CK Infrastructure Holdings Limited Announces Board and Committee Changes

Upcoming dividend of HK$0.70 per share

CK Infrastructure Holdings Limited Announces Interim Dividend for the Six Months Ended 30 June 2022, Payable 15 September 2022

First half 2022 earnings released: EPS: HK$1.75 (vs HK$1.20 in 1H 2021)

CK Infrastructure Holdings Limited to Report First Half, 2022 Results on Aug 03, 2022

Upcoming dividend of HK$1.81 per share

Now 20% undervalued

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

CK Infrastructure Holdings Limited to Report Fiscal Year 2021 Results on Mar 16, 2022

CKI Reportedly Bows Out of Competition for A Share of $4.1 Billion Pluto Train 2 Development

Upcoming dividend of HK$0.69 per share

First half 2021 earnings released: EPS HK$1.20 (vs HK$1.14 in 1H 2020)

Upcoming dividend of HK$1.79 per share

Full year 2020 earnings released: EPS HK$2.91 (vs HK$4.17 in FY 2019)

Full year 2020 earnings released: EPS HK$2.91 (vs HK$4.17 in FY 2019)

CK Infrastructure Holdings Limited Recommends Final Dividend, Payable on June 2, 2021

CK Infrastructure Holdings Limited to Report Fiscal Year 2020 Results on Mar 17, 2021

New 90-day high: HK$46.00

New 90-day high: HK$43.15

New 90-day high: HK$41.25

New 90-day low: HK$36.15

New 90-day low - HK$38.10

First half earnings released

Ventient Energy Sàrl enter into a Quota Sale and Purchase Agreement to acquire Portugal Renewable Energy from CK Infrastructure Holdings Limited (SEHK:1038) and Power Assets Holdings Limited (SEHK:6)