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Hong Kong Exchanges and Clearing Limited (0388.HK)
Central, HK
Hong Kong Exchanges and Clearing Limited (HKEX), a leading financial infrastructure group, oversees and operates significant stock and futures exchanges and their associated clearing houses across Hong Kong, mainland China, and the United Kingdom. Its business is organized into five core segments: Cash, Equity and Financial Derivatives, Commodities, Post Trade, and Technology. The Cash segment facilitates trading of diverse equity products on the cash market platforms of the Hong Kong, Shanghai, and Shenzhen Stock Exchanges, additionally selling market data and managing related activities. The Equity and Financial Derivatives segment offers and maintains trading platforms for a broad spectrum of products, including stock and equity index futures and options, derivative warrants, and callable bull/bear contracts, alongside providing relevant market data. The Commodities segment manages a UK-based exchange for trading base, ferrous, and precious metals futures and options, and operates Qianhai Mercantile Exchange Co., Ltd., a commodity trading platform in mainland China. It also handles commodity contracts on its Futures Exchange. The Post Trade segment provides critical clearing house services, covering clearing, settlement, depository, custodian, and nominee functions. Finally, the Technology segment ensures user access to platforms and underlying infrastructure through various service offerings. The company serves both issuers and investors and is headquartered in Central, Hong Kong.
No mergers or acquisitions recorded for this company.
| Indicator | 1D | 1W | 2W | 3W | 1M |
|---|
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
| 1D | 5D | 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y | 10Y | Max |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.38% | -0.19% | +3.77% | +2.37% | -3.11% | +3.97% | +10.08% | +36.89% | -5.23% | +133.37% | +5,100.00% |
Revenue flow
Revenue by geography
Revenue by segment
Revenue composition
By product
By geography
Income Statement
Balance Sheet
Cash Flow Statement
Key Metrics
Financial Ratios
Employees
Financial Growth (CAGR)
Market Data
DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.
| Rating | 2026-05 | Change |
|---|---|---|
| Strong Buy | 4 | 0 |
| Buy | 13 | -1 |
| Hold | 2 | 0 |
| Sell | 0 | 0 |
| Strong Sell | 0 | 0 |
-
Revenue growth Financial - Data & Stock Exchanges: +11.9%+68.1% ★ Q1'26: +49.3% (vs Q1'25)
-
EPS growth Financial - Data & Stock Exchanges: +19.9%+36.2% ★ Q1'26: +27.0% (vs Q1'25)
-
FCF margin FCF growth · Financial - Data & Stock Exchanges: +25.6%+65.1% ★ Q1'26: +0.0% (vs Q1'25)
-
EBIT margin Financial - Data & Stock Exchanges: +51.8%+72.9% ★ Q1'26: +75.8% (vs Q1'25)
-
ROIC Financial - Data & Stock Exchanges: +13.5%— Q1'26: -8.3% (vs Q1'25)
-
Share dilution Financial - Data & Stock Exchanges: +0.6%0.0% Q1'26: +0.2% (vs Q1'25)
-
Debt / EBITDA Net debt/EBITDA · Financial - Data & Stock Exchanges: -0.36×0.08× ★ Q1'26: 0.05× (vs Q1'25)
* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.
| Metric |
Dec 2015 actual |
Dec 2016 actual |
Dec 2017 actual |
Dec 2018 actual |
Dec 2019 actual |
Dec 2020 actual |
Dec 2021 actual |
Dec 2022 actual |
Dec 2023 actual |
Dec 2024 actual |
Dec 2025 actual |
Dec 2026 14 Rev. Ana. 18 EPS Ana. |
Dec 2027 14 Rev. Ana. 18 EPS Ana. |
Dec 2028 6 Rev. Ana. 9 EPS Ana. |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue |
12.23B
est: 13.42B (-8.8%)
|
10.40B
est: 11.16B (-6.9%)
|
11.57B
est: 12.99B (-10.9%)
|
14.25B
est: 15.78B (-9.7%)
|
13.57B
est: 16.39B (-17.2%)
|
16.84B
est: 18.84B (-10.6%)
|
19.47B
est: 21.52B (-9.5%)
|
16.93B
est: 18.16B (-6.8%)
|
15.45B
est: 20.79B (-25.7%)
|
17.35B
est: 22.37B (-22.5%)
|
29.16B
est: 28.64B (+1.8%)
|
31.13B
30.28B – 31.82B
+8.7% YoY
|
32.59B
29.15B – 34.32B
+4.7% YoY
|
34.50B
32.19B – 35.82B
+5.9% YoY
|
| EBITDA |
10.10B
est: 12.46B (-18.9%)
|
7.78B
est: 10.37B (-25.0%)
|
10.13B
est: 12.07B (-16.0%)
|
12.79B
est: 14.66B (-12.8%)
|
13.37B
est: 15.23B (-12.2%)
|
15.01B
est: 17.50B (-14.3%)
|
16.34B
est: 19.99B (-18.3%)
|
15.48B
est: 16.87B (-8.3%)
|
20.87B
est: 19.32B (+8.0%)
|
22.15B
est: 20.29B (+9.1%)
|
22.82B
est: 25.98B (-12.2%)
|
28.24B
27.47B – 28.87B
+8.7% YoY
|
29.56B
26.44B – 31.13B
+4.7% YoY
|
31.30B
29.20B – 32.49B
+5.9% YoY
|
| EBIT |
9.42B
est: 11.85B (-20.6%)
|
7.01B
est: 9.86B (-28.9%)
|
9.28B
est: 11.48B (-19.2%)
|
12.02B
est: 13.94B (-13.8%)
|
12.32B
est: 14.48B (-14.9%)
|
13.81B
est: 16.65B (-17.0%)
|
14.99B
est: 19.02B (-21.2%)
|
14.02B
est: 16.05B (-12.7%)
|
19.43B
est: 18.37B (+5.7%)
|
20.74B
est: 19.35B (+7.2%)
|
21.25B
est: 24.78B (-14.2%)
|
26.93B
26.20B – 27.54B
+8.7% YoY
|
28.20B
25.22B – 29.70B
+4.7% YoY
|
29.86B
27.85B – 30.99B
+5.9% YoY
|
| Net Income |
7.96B
est: 8.54B (-6.8%)
|
5.77B
est: 6.22B (-7.2%)
|
7.40B
est: 7.65B (-3.2%)
|
9.31B
est: 9.60B (-3.0%)
|
9.39B
est: 9.63B (-2.5%)
|
11.51B
est: 11.39B (+1.0%)
|
12.54B
est: 13.14B (-4.6%)
|
10.08B
est: 9.91B (+1.7%)
|
11.86B
est: 12.06B (-1.6%)
|
13.05B
est: 12.99B (+0.5%)
|
17.75B
est: 17.29B (+2.7%)
|
19.08B
18.20B – 20.49B
+10.3% YoY
|
20.02B
16.90B – 21.99B
+4.9% YoY
|
21.28B
19.43B – 22.34B
+6.3% YoY
|
| SGA |
169.00M
est: 281.88M (-40.0%)
|
185.00M
est: 234.55M (-21.1%)
|
151.00M
est: 272.97M (-44.7%)
|
212.00M
est: 331.53M (-36.1%)
|
216.00M
est: 344.36M (-37.3%)
|
255.00M
est: 395.80M (-35.6%)
|
296.00M
est: 452.17M (-34.5%)
|
431.00M
est: 381.62M (+12.9%)
|
448.00M
est: 436.87M (+2.5%)
|
351.00M
est: 402.16M (-12.7%)
|
—
est: 514.99M (-100.0%)
|
559.62M
544.45M – 572.16M
+8.7% YoY
|
585.86M
524.02M – 617.02M
+4.7% YoY
|
620.36M
578.74M – 644.00M
+5.9% YoY
|
| EPS |
6.70
est: 6.73 (-0.5%)
|
4.76
est: 4.90 (-2.9%)
|
6.03
est: 6.03 (0.0%)
|
7.50
est: 7.57 (-0.9%)
|
7.49
est: 7.60 (-1.4%)
|
9.11
est: 8.99 (+1.4%)
|
9.91
est: 10.36 (-4.4%)
|
7.96
est: 7.82 (+1.8%)
|
9.37
est: 9.51 (-1.5%)
|
10.32
est: 10.25 (+0.7%)
|
14.05
est: 13.64 (+3.0%)
|
15.05
14.36 – 16.17
+10.3% YoY
|
15.79
13.34 – 17.35
+4.9% YoY
|
16.79
15.33 – 17.62
+6.3% YoY
|
| Date | Rating | Overall | DCF | ROE | ROA | D/E | P/E | P/B |
|---|---|---|---|---|---|---|---|---|
| 2026-05-12 | A- | 4/5 | 4/5 | 5/5 | 5/5 | 4/5 | 1/5 | 1/5 |
| 2026-05-11 | A- | 4/5 | 4/5 | 5/5 | 5/5 | 4/5 | 1/5 | 1/5 |
| 2026-05-08 | B+ | 3/5 | 4/5 | 5/5 | 5/5 | 3/5 | 1/5 | 1/5 |
| 2026-05-07 | B+ | 3/5 | 4/5 | 5/5 | 5/5 | 3/5 | 1/5 | 1/5 |
| 2026-05-06 | B+ | 3/5 | 4/5 | 5/5 | 5/5 | 3/5 | 1/5 | 1/5 |
| 2026-05-05 | B+ | 3/5 | 4/5 | 5/5 | 5/5 | 3/5 | 1/5 | 1/5 |
| 2026-05-04 | B+ | 3/5 | 4/5 | 5/5 | 5/5 | 3/5 | 1/5 | 1/5 |
| 2026-04-30 | B+ | 3/5 | 4/5 | 5/5 | 5/5 | 3/5 | 1/5 | 1/5 |
| 2026-04-29 | B+ | 3/5 | 4/5 | 5/5 | 5/5 | 3/5 | 1/5 | 1/5 |
| 2026-04-28 | B+ | 3/5 | 4/5 | 5/5 | 5/5 | 3/5 | 1/5 | 1/5 |
| 2026-04-27 | B+ | 3/5 | 4/5 | 5/5 | 5/5 | 3/5 | 1/5 | 1/5 |
| 2026-04-24 | B+ | 3/5 | 4/5 | 5/5 | 5/5 | 3/5 | 1/5 | 1/5 |
| 2026-04-23 | B+ | 3/5 | 4/5 | 5/5 | 5/5 | 3/5 | 1/5 | 1/5 |
| 2026-04-22 | B+ | 3/5 | 4/5 | 5/5 | 5/5 | 3/5 | 1/5 | 1/5 |
| 2026-04-21 | B+ | 3/5 | 4/5 | 5/5 | 5/5 | 3/5 | 1/5 | 1/5 |
| 2026-04-20 | B+ | 3/5 | 4/5 | 5/5 | 5/5 | 3/5 | 1/5 | 1/5 |
| 2026-04-17 | B+ | 3/5 | 4/5 | 5/5 | 5/5 | 2/5 | 1/5 | 1/5 |
| 2026-04-16 | B+ | 3/5 | 4/5 | 5/5 | 5/5 | 2/5 | 1/5 | 1/5 |
| 2026-04-15 | B+ | 3/5 | 4/5 | 5/5 | 5/5 | 2/5 | 2/5 | 1/5 |
| 2026-04-14 | B+ | 3/5 | 4/5 | 5/5 | 5/5 | 2/5 | 2/5 | 1/5 |
Owner Earnings
Ownership Overview
Ownership breakdown not available.
No beneficial ownership filings recorded.
Institutional Activity (13F)
Institutional history not available.
Top holders not available.
Insider Activity
No insider activity available.
Insider history not available.
No recent insider transactions.
Executive team
Executive compensation
Executive compensation not available.
No CEO compensation history available.
Proxy statements
No proxy statements available for this company yet.
Recent SEC filings
No SEC filings available for this company yet.
Executive team
| Name | Title | Compensation | Gender |
|---|---|---|---|
| Yiting Chan | Chief Executive Officer & Executive Director | 23M | female |
| Bik Yun Lau | Chief Operating Officer | 17M | female |
| Chung Kwong Leung | Group Chief Information Officer | 11M | male |
| Hock-Ke Yu | MD & Head of Markets | 10M | male |
| Kit Shuen Ng | Head of Listing | 9M | female |
| Matthew James Chamberlain | Group Head of Commodities & LME Chief Executive | 9M | male |
| Paul Michael Kennedy | Senior Advisor | 9M | male |
| Graeme Farrell | Group Chief Risk Officer | 8M | male |
| Adrian John Winston Farnham | Chief Executive of LME Clear | 7M | male |
| Leung-Wah Hui | Group Chief Financial Officer | 7M | male |
| Jeffrey | Group Chief Communications Officer | 2M | male |
| Koon Ying Chow | Group General Counsel & Group Chief Sustainability Officer | — | male |
No data available for this company.
No Senate trading activity found for this company.
No House trading activity found for this company.
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Community Opinion for 0388.HK
Short-term intention
Target Price Distribution
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