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HK Electric Investments Ltd (2638) fair value: what the stock is really worth

As of Sep 30, 2026: fair value of HK Electric Investments Ltd HK$3.43, price HK$6.21, upside -44.7%, quality 57 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

Fair value above price? No
Good quality? Yes
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Utilities · HK · ISIN HK0000179108

HE Thin data Sep 27, 2026

HK Electric Investments Ltd

2638 · HK

Stretched ValuationStrong overvaluation with only moderate quality.

!Fair value HK$3.43 · Strongly overvalued (−44.7%)

!Quality 57/100

!Expensive Growth (revenue 5y +3.1 %/yr)

✓Highly profitable · 25.2% net margin (TTM)

✓Moderate debt · generates free cash flow

!5.2% dividend yield · Watch coverage

✓Ranks above peers (9/15)

✓Wide moat 67/100

!Evidence only low, so the estimate is less certain

!Weak on past: 26 out of 100

26 models, one by oneBear HK$1.62 to bull HK$5.00 Growth analysisrevenue history, year by year Quality 57/100 in detail37 factors, each one shown Compared with its peersrank on every measure, side by side

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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.

How to read this chart

60‑month range HK$3.72 – HK$6.87 · fair‑value band HK$1.62 – HK$5.00 · the HK$6.21 price screens above the HK$3.43 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 27, 2026.

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Company profile

HK Electric Investments and HK Electric Investments Limited, an investment holding company, engages in the generation, transmission, distribution, and supply of electricity in Hong Kong Island and Lamma Island. The company operates coal-fired units, gas turbines and standby units, gas-fired combined-cycle units, solar power system, and wind turbine with an installed capacity of 3,083 megawatts. It also operated a transmission and distribution network of 7,143 kilometers, as well as served 599,000 residential, commercial, and industrial customers. In addition, the company involved in the financing business. HK Electric Investments and HK Electric Investments Limited was incorporated in 1889 and is headquartered in Hong Kong, Hong Kong.

Stock analysis

HK Electric Investments Ltd (2638) currently trades at HK$6.21, while our model-based Fair Value estimate is HK$3.43, 44.7% below the price, so the stock looks overvalued today.

Valuation

Bull case: the Multiples group reads highest at a median of HK$5.26 per share, and 2 of the 24 models we run sit above the HK$6.21 price.

Bear case: the Growth DCF group reads lowest at HK$1.24, and 22 of the 24 models stay below the price. Evidence for this calculation is low.

Scenario range: HK$1.62 (bear) to HK$5.00 (bull), the price of HK$6.21 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 57/100 (solid quality), in the Utilities sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

HK Electric Investments Ltd reported revenue of HK$12.1B in FY2025 versus HK$11.3B in FY2021, a compound +1.7%/yr. Reported net income was HK$3.1B in FY2025, compounding +1.2%/yr from FY2021.

Key figures

Market cap HK$54.8B (≈ $7.0B) · P/E ratio 16.3 · P/S ratio 4.14 · Dividend yield 5.2% · Net margin 25.4% · Return on equity 6.5% · Return on assets (EBIT) 4.2% · Operating margin 45.0%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).

What moves the price

The share trades about 10% below its 52-week high and 8% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Utilities peers we cover trades at −31% fair-value upside, at −45%, 2638 screens richer than that median.

Fair Value models

Bear HK$1.62 Fair Value HK$3.43 Bull HK$5.00

Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.

Highest evidence

FCF DCF HK$1.71 HK$3.30 HK$6.36 76

Residual Income HK$4.42 HK$4.60 HK$4.95 76

Growth DCF HK$1.88 HK$3.43 HK$6.15 75

All 24 models by family

DCF Models

FCF DCF HK$1.71 HK$3.30 HK$6.36 76

Owner Earnings HK$1.29 HK$2.74 HK$5.54 71

5Y Revenue Exit HK$0.0800 HK$1.14 HK$2.71 63

5Y EBITDA Exit HK$2.59 HK$5.39 HK$9.19 72

5Y P/E Exit HK$1.21 HK$3.04 HK$5.29 67

10Y Revenue Exit HK$0.6300 HK$1.63 HK$2.72 64

10Y EBITDA Exit HK$2.20 HK$4.37 HK$6.84 66

10Y P/E Exit HK$1.37 HK$2.86 HK$4.36 62

Earnings-Based

Graham-Dodd HK$2.37 HK$3.94 HK$4.78 67

EPV HK$1.23 HK$1.93 HK$2.53 72

Dividend Discount

Gordon GGM HK$2.81 HK$3.43 HK$4.08 69

DDM Multi-Stage HK$2.81 HK$3.71 HK$4.78 67

Multiples

P/E Multiple HK$4.70 HK$6.27 HK$7.84 63

P/S Multiple HK$2.57 HK$3.43 HK$4.29 58

P/B Multiple HK$4.44 HK$5.92 HK$7.40 55

EV/EBIT HK$3.15 HK$5.26 HK$7.37 64

EV/EBITDA HK$4.16 HK$6.60 HK$9.05 66

EV/Revenue n/a HK$0.2600 >HK$1.04 50

Asset-Based

NCAV (Graham) HK$2.79 HK$3.74 HK$5.58 54

Growth DCF

Growth DCF HK$1.88 HK$3.43 HK$6.15 75

Rev-Margin DCF HK$0.0800 HK$1.24 HK$2.76 64

Economic Profit

Residual Income HK$4.42 HK$4.60 HK$4.95 76

ROIC Compounder HK$1.23 HK$1.93 HK$2.53 71

Growth Earnings

Growth-Adj P/E HK$3.34 HK$4.77 HK$6.21 67

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Quality Score breakdown

Overall quality 57/100

Of which business quality 53 · Market factors (momentum, volatility) 57

Profitability 35

Margins and returns on capital today

Quality Growth 34

Are margins and returns improving?

Cashflow 80

Earnings quality: real cash, not paper profit

Fin. Strength 31

Balance sheet, leverage, solvency risk

Investment 67

Disciplined investing over empire-building

Low Volatility 96

Calm price path (market factor)

Momentum 42

Price trend over the last 3–12 months (market factor)

52W Momentum 40

Distance to the 52-week high (market factor)

Net Issuance 82

Share count: buybacks or dilution?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 62/100

The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Revenue growth 1 year

+0.6%

Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.

+4.0%

Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.

+3.1%

Start year 2020 (pandemic). Over 10 years: +0.8% a year

Revenue growth 15 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.

+1.1%

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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.

+7.6%

Earnings growth per share plus dividend.

Earnings per share, growth per year+2.4%

Dividend (yield on the price)5.2%

Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.2.4% vs −1.5%, picking up

Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.40% → 41%

Start year 2020 (pandemic)

Growth Forecast

A lot of optimism in the price

The price assumes more growth than the company has delivered so far and more than analysts expect.

What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).

+12.2%

Yearly growth needed for the next five years to justify today's price.

What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.

+2.7%

Yearly sales growth analysts expect, extended to five years.

After inflation (Hong Kong: IMF forecast 2.1% a year to 2030, 1.8% from 2016 to 2025) that is about +9.9% a year for the price and +0.6% for the forecasts.

Forecast 2026 (sales)+4.3%

Forecast 2027 (sales)+2.4%

Projected 2028 (sales)+2.4%

Projected 2029 (sales)+2.3%

Projected 2030 (sales)+2.3%

2638 screens overvalued: fair value 45% below the price. Compare with NextEra Energy, Inc →

Earlier news

News mood ⓘNews mood, the average tone of recent news (5 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation. Hype

Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.

Is HK Electric Investments And HK Electric Investments (SEHK:2638) Fully Valued As Fuel Cost Pressures Rise? Yahoo Finance · Aug 12, 2026
HK Electric Investments and HK Electric Investments Ltd's Dividend Analysis Yahoo Finance · Apr 5, 2024
Is HK Electric Investments and HK Electric Investments Limited's (HKG:2638) CEO Paid At A Competitive Rate? Yahoo Finance · Apr 27, 2020
Don't Race Out To Buy HK Electric Investments and HK Electric Investments Limited (HKG:2638) Just Because It's Going Ex-Dividend Yahoo Finance · Mar 26, 2020

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Utilities - Regulated Electric · 152 stocks

Beats the industry median on 9/15 measures

Overall it ranks above its industry peers.

Valuation

Quality Score 57 · Top 25%

Fair Value upside −44.7% · Bottom 25%

Profitability

Return on equity (TTM) 6.5% · Below median

Return on assets 2.8% · Below median

Net margin (TTM) 25.2% · Top 25%

Operating margin (TTM) 45.0% · Top 25%

Growth and dividend

Revenue growth 6.7% · Above median

Dividend yield (TTM) 5.2% · Top 25%

Balance sheet

Debt / equity 0.57× · Below median

Valuation Multiplesvs Utilities - Regulated Electric median · lower = cheaper

P/E (TTM) 16.3× · Cheaper than median

P/B 1.11× · Cheaper than median

P/S (TTM) 4.39× · Priciest 25%

P/FCF 16.2× · Pricier than median

EV/EBITDA 8.9× · Cheaper than median

PEG 8.20× · Priciest 25%

Strength profile in five axes (Snowflake)

This stock

Sector peers

VALUE (fair-value potential)0 · sector 13

FUTURE (revenue growth)34 · sector 29

PAST (return on equity)26 · sector 39

HEALTH (low debt)72 · sector 51

DIVIDEND (yield)100 · sector 67

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Utilities - Regulated Electric stocks, each showing price versus our Fair Value estimate.

Stock	Price	Fair Value	vs Fair Value
NextEra Energy, Inc NEE	$76.08	$29.97	−61%
The Southern Company SO	$82.88	$57.57	−31%
Duke Energy Corporation DUK	$113.41	$74.88	−34%
American Electric Power Company AEP	$118.35	$100.03	−15%
Dominion Energy, Inc D	$60.68	$37.84	−38%
Entergy Corporation ETR	$98.10	$37.37	−62%
Xcel Energy Inc XEL	$69.39	$54.92	−21%
Exelon Corporation EXC	$40.32	$36.01	−11%
Consolidated Edison, Inc ED	$103.33	$47.76	−54%
PG&E Corporation PCG	$12.34	$17.85	+45%

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HK Electric Investments Ltd · Fair Value
HK$3.43 −45%Fair Value
Calculator →

<a href="https://www.fairvalue-calculator.com/stock/2638" target="_blank" rel="nofollow noopener" style="display:inline-flex;align-items:center;gap:12px;box-sizing:border-box;font-family:system-ui,-apple-system,Segoe UI,Roboto,sans-serif;text-decoration:none;background:#0f1814;color:#eaf2ed;border:1px solid #2a3a30;border-radius:12px;padding:12px 16px;max-width:360px"><span style="line-height:1.35"><span style="font-size:12px;color:#9fb0a8">HK Electric Investments Ltd · Fair Value</span><br><b style="font-size:20px">HK$3.43</b> <span style="color:#e0816f;font-weight:700;font-size:14px">−45%</span></span><span style="font-size:11px;color:var(--fvc-g-mitte);font-weight:700;margin-left:auto;text-align:right;line-height:1.3">Fair&nbsp;Value<br>Calculator&nbsp;→</span></a>

Cite: Fair Value Calculator (2026). "HK Electric Investments Ltd Fair Value". https://www.fairvalue-calculator.com/stock/2638

Frequently asked questions

Is HK Electric Investments Ltd (2638) overvalued or undervalued?

As of Sep 27, 2026, our model estimates a fair value of HK$3.43 versus a price of HK$6.21, about −45% upside (overvalued).

What is the fair value of 2638?

Our model-based fair value for HK Electric Investments Ltd is HK$3.43 (as of Sep 27, 2026), built from audited fundamentals. The current price: HK$6.21.

What is the quality score of 2638?

HK Electric Investments Ltd has a Quality Score of 57/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.

What is the price target for HK Electric Investments Ltd (2638)?

Our model-based price target is the fair value of HK$3.43 (as of Sep 27, 2026) from 24 valuation models. Cautious scenario HK$1.62, optimistic scenario HK$5.00. It is a calculation from audited fundamentals, not an analyst target.

What is the HK Electric Investments Ltd stock forecast for 2026?

Our models put fair value at HK$3.43, about −45% upside versus a price of HK$6.21 (overvalued). Cautious scenario HK$1.62, optimistic scenario HK$5.00. The calculation is refreshed regularly with new filings.

What is the revenue of HK Electric Investments Ltd (2638)?

HK Electric Investments Ltd reported trailing-twelve-month revenue of about HK$12.5B (latest available figure, as of Sep 27, 2026).

Does HK Electric Investments Ltd pay a dividend?

HK Electric Investments Ltd currently shows a dividend yield of about 5.16% relative to its recent price (as of Sep 27, 2026).

What growth is priced into HK Electric Investments Ltd (2638)?

For today's price to be fair in a discounted-cash-flow model, HK Electric Investments Ltd would have to grow free cash flow by +12.2 % per year for five years (discount rate 9.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +3.1 % per year. As of Sep 27, 2026.

What discount rate (WACC) does the fair value of 2638 use?

Our models discount HK Electric Investments Ltd at 9.3 %: a base by market capitalisation (mid), damped by beta 0.60, country premium for Hong Kong. The same rate applies in all 26 models.

What is a reverse DCF?

A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For HK Electric Investments Ltd that is +12.2 % per year a year over ten years, using the same discount rate (9.3 %) and the same formula as our fair value.

How much growth has HK Electric Investments Ltd (2638) delivered so far?

Over the past 5 years revenue at HK Electric Investments Ltd grew +3.1 % a year. The price currently implies +12.2 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.

How fast is the sector of HK Electric Investments Ltd (2638) growing?

The median revenue growth in the sector is +2.8 % a year. That is the yardstick for the growth priced into HK Electric Investments Ltd (+12.2 % per year a year): it shows whether the expectation is within the usual range or beyond it.

What is the free cash flow yield of HK Electric Investments Ltd (2638)?

The free-cash-flow yield on the price is 6.18 %: that much free cash flow HK Electric Investments Ltd produces per unit of market value. When it exceeds the discount rate of our models (9.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.

What is the intrinsic value of HK Electric Investments Ltd (2638)?

Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For HK Electric Investments Ltd it is HK$3.43 per share (as of Sep 27, 2026), against a price of HK$6.21. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).

Is HK Electric Investments Ltd stock overvalued or undervalued in 2026?

As of Sep 27, 2026, 2638 trades above its calculated fair value: price HK$6.21, fair value HK$3.43, a gap of about −45% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.

Is fair value the same as the market price of 2638?

No. The price is what the market pays today (HK$6.21); the fair value is what the company's own numbers justify (HK$3.43). For HK Electric Investments Ltd the two are HK$2.78 per share apart. That gap is exactly why we show both numbers side by side.

How much is HK Electric Investments Ltd worth?

The market values HK Electric Investments Ltd at about HK$54.8B (market capitalisation, as of Sep 27, 2026). Per share that is HK$6.21; our models calculate a fair value of HK$3.43 per share.

What do the bullish and bearish scenarios say about 2638?

Our models span a range for HK Electric Investments Ltd: cautious scenario HK$1.62, base HK$3.43, optimistic HK$5.00 per share (as of Sep 27, 2026, price HK$6.21). The range comes from different growth and margin assumptions, not from analyst opinions.

What is the P/E ratio of 2638?

HK Electric Investments Ltd trades at a price-to-earnings ratio of 16.3 (as of Sep 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of HK$3.43 is built from several models across several years. Other multiples: PEG 8.2, P/B 1.1, P/S 4.4, EV/EBITDA 8.9.

What is the PEG ratio of 2638?

The PEG ratio of HK Electric Investments Ltd is 8.20 (P/E divided by earnings growth, as of Sep 27, 2026). That is above 1, so the growth is already paid for in the price.

How solid is the balance sheet of HK Electric Investments Ltd (2638)?

Balance-sheet figures for HK Electric Investments Ltd (as of Sep 27, 2026): return on equity 6.5%, debt of 0.57 per unit of equity. They feed the Quality Score of 57/100, which measures business quality independently of the share price.

How far is 2638 from its 52-week high?

HK Electric Investments Ltd trades at HK$6.21, about 10% below its 52-week high of HK$6.87 and 8% above the low of HK$5.77 (as of Sep 30, 2026). Distance from the high says nothing about value: that is what the fair value of HK$3.43 is for.

Which stocks are comparable to HK Electric Investments Ltd?

From the same area (Utilities) we also value NextEra Energy, Inc, The Southern Company, Duke Energy Corporation, American Electric Power Company, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.

Is HK Electric Investments Ltd stock attractive at the current price?

The data as of Sep 27, 2026: price HK$6.21, calculated fair value HK$3.43 (−45%), Quality Score 57/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.

How is the fair value of 2638 calculated?

We run HK Electric Investments Ltd through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of HK$3.43, with the spread shown as a cautious and an optimistic scenario.

Is it still worth investing in stocks now?

The global stock market currently sits 14.7 % above its aggregate fair value. HK Electric Investments Ltd itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.

What is the share price of HK Electric Investments Ltd (2638)?

The closing price on Sep 30, 2026 was HK$6.21. Our model-based fair value is HK$3.43, about −45% upside (overvalued). We carry closing prices from our data provider, not a live tick.

What should I pay attention to with HK Electric Investments Ltd right now?

The price sits above even our optimistic bull case (HK$5.00). The favourable scenario is already priced in. The model range is unusually wide (HK$1.62 to HK$5.00). The outcome hinges heavily on assumptions, so read the point estimate with caution. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (57/100) and above fair value, neither a clear bargain nor a standout compounder.

Where does the earnings growth of HK Electric Investments Ltd (2638) come from?

Earnings per share at HK Electric Investments Ltd grew −1.5 % a year from 2014 to 2025. Broken into its drivers: revenue per share +0.5 %, EBIT margin −0.8 %, tax rate −0.1 %, residual (interest, one-offs) −1.1 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.

Key figures of HK Electric Investments Ltd

How large is the market capitalisation of HK Electric Investments Ltd (2638)?

The market capitalisation of HK Electric Investments Ltd is HK$54.8B (≈ $7.0B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.

What is the P/S ratio of HK Electric Investments Ltd (2638)?

The price-to-sales ratio of HK Electric Investments Ltd is 4.14 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.

What is the dividend yield of HK Electric Investments Ltd (2638)?

The dividend yield of HK Electric Investments Ltd is 5.2%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.

What is the net margin of HK Electric Investments Ltd (2638)?

The net margin of HK Electric Investments Ltd is 25.4% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.

What is the return on equity of HK Electric Investments Ltd (2638)?

The return on equity (ROE) of HK Electric Investments Ltd is 6.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.

What is the EBIT return on assets of HK Electric Investments Ltd (2638)?

On an EBIT basis the return on assets of HK Electric Investments Ltd is 4.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.

What is the operating margin of HK Electric Investments Ltd (2638)?

The operating margin of HK Electric Investments Ltd is 45.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.

How fast is revenue growing at HK Electric Investments Ltd (2638)?

Revenue at HK Electric Investments Ltd is growing +6.7% versus a year earlier (3y avg +4.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.

How fast are earnings growing at HK Electric Investments Ltd (2638)?

Earnings per share at HK Electric Investments Ltd are growing +0.2% versus a year earlier. How much earnings per share grew versus a year earlier.

How much net debt does HK Electric Investments Ltd (2638) carry?

The net debt of HK Electric Investments Ltd is HK$50.5B (fiscal year 2025, ≈ 14.9 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.

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