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STOCK COMPARISON

Hong Kong Exchange and Clearing vs S&P Global: Fair Value & Quality

Both stocks run through our valuation models. Here is how Hong Kong Exchange and Clearing (0388) and S&P Global (SPGI) compare, as of Aug 8, 2026.

As of Aug 8, 2026, Fair Value Calculator sees S&P Global as the less overvalued of the two: Hong Kong Exchange and Clearing trades at HK$410 versus a fair value of HK$183 (-55%), while S&P Global trades at $405 versus $196 (-52%).
Hong Kong Exchange and Clearing
0388.HK · HKD · Financials
-55%
upside to fair value
overvalued
PriceHK$410
Fair ValueHK$183
Quality69/100
S&P Global
SPGI · USD · Financials
-52%
upside to fair value
overvalued
Price$405
Fair Value$196
Quality66/100

Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

Hong Kong Exchange and ClearingS&P Global
Valuation
26.2×P/E (TTM)28.1×
16.39×P/S (TTM)8.61×
8.50×P/B4.33×
13.5×EV/EBITDA18.6×
1.85×PEG1.85×
—Dividend yield0.9%
—Dividend per share$3.85
Profitability
63%Net margin30%
77%Operating margin44%
35%Return on equity14%
3%Return on assets7%
Growth
19%Revenue growth (YoY)10%
19.9%Avg. growth/yr (3Y)11.1%
11.6%Avg. growth/yr (5Y)15.6%
Balance & size
0.00×Debt / equity0.40×
$63BMarket cap$135B
healthyGrowth qualityhealthy

Hong Kong Exchange and Clearing leads: 8 to 5 metric wins.

Dash = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Hong Kong Exchange and Clearingof which business quality 75 · market factors 48 S&P Globalof which business quality 74 · market factors 35
ProfitabilityMargins and returns on capital today
49
50
Quality GrowthAre margins and returns improving?
60
59
CashflowEarnings quality: real cash, not paper profit
87
88
Fin. StrengthBalance sheet, leverage, solvency risk
100
66
InvestmentDisciplined investing over empire-building
63
100
Low VolatilityCalm price path (market factor)
77
60
MomentumPrice trend over the last 3–12 months (market factor)
34
29
52W MomentumDistance to the 52-week high (market factor)
40
18
Net IssuanceBuybacks instead of dilution
82
99

What the models say

The median fair value (base case) per model family, each in the currency of its trading venue. Green = above the current price, red = below.

Hong Kong Exchange and Clearing

DCF ModelsHK$493
Earnings-BasedHK$244
Dividend DiscountHK$207
MultiplesHK$242
Asset-BasedHK$30.82
Growth DCFHK$563
Economic ProfitHK$208
Growth EarningsHK$268

16 of 25 models see the stock below the current price.

S&P Global

DCF Models$294
Earnings-Based$128
Dividend Discount$68.00
Multiples$279
Asset-Based$70.70
Growth DCF$219
Economic Profit$156
Growth Earnings$271

26 of 26 models see the stock below the current price.

Scenario ranges

From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.

Hong Kong Exchange and Clearing
Bear HK$137Fair Value HK$183Bull HK$370
HK$410 = current price (white tick)
S&P Global
Bear $138Fair Value $196Bull $305
$405 = current price (white tick)

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Hong Kong Exchange and Clearing · Financials

Quality score69 · Top 25%
Fair value upside-55% · bottom 25%

S&P Global · Financials

Quality score66 · Top 25%
Fair value upside-52% · bottom 25%

Bottom line

As of Aug 8, 2026, Fair Value Calculator sees S&P Global as the less overvalued of the two: Hong Kong Exchange and Clearing trades at HK$410 versus a fair value of HK$183 (-55%), while S&P Global trades at $405 versus $196 (-52%).

Hong Kong Exchange and Clearing has the higher quality score (69/100).

See the full analysis →
Hong Kong Exchange and Clearing · S&P Global

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A model-based valuation snapshot from 21 models. Values change with price and fundamentals; the date shown above applies.