Stock 2388 BOC HONG KONG HOLDINGS LTD
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Financials BOC Hong Kong Holdings Ltd

Equities

2388

HK2388011192

Banks

Market Closed - Hong Kong S.E.
Other stock markets
 04:08:20 2024-04-26 am EDT 		5-day change 1st Jan Change
23.7 HKD -0.21% Intraday chart for BOC Hong Kong Holdings Ltd +4.64% +11.79%
Apr. 01 Able Engineering CEO Steps Down; Successor Named MT
Mar. 28 Transcript : BOC Hong Kong Limited, 2023 Earnings Call, Mar 28, 2024

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 285,994 248,460 270,135 281,236 224,143 250,575 - -
Enterprise Value (EV) 1 285,994 248,460 270,135 281,236 224,143 250,575 250,575 250,575
P/E ratio 8.89 x 9.38 x 11.8 x 10.4 x 6.85 x 6.93 x 6.86 x 6.53 x
Yield 5.68% 5.29% 4.42% - 7.89% 8.04% 8.17% 8.55%
Capitalization / Revenue 4.89 x 4.56 x 5.51 x 4.94 x 3.42 x 3.68 x 3.69 x 3.54 x
EV / Revenue 4.89 x 4.56 x 5.51 x 4.94 x 3.42 x 3.68 x 3.69 x 3.54 x
EV / EBITDA - - - - - - - -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 0.95 x 0.79 x 0.84 x - 0.7 x 0.74 x 0.7 x 0.67 x
Nbr of stocks (in thousands) 10,572,780 10,572,780 10,572,780 10,572,780 10,572,780 10,572,780 - -
Reference price 2 27.05 23.50 25.55 26.60 21.20 23.70 23.70 23.70
Announcement Date 3/27/20 3/30/21 3/29/22 3/30/23 3/28/24 - - -
1HKD in Million2HKD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 58,444 54,474 48,982 56,932 65,498 68,041 67,964 70,812
EBITDA - - - - - - - -
EBIT 1 41,777 38,127 32,575 39,088 48,891 49,332 49,010 51,254
Operating Margin 71.48% 69.99% 66.5% 68.66% 74.65% 72.5% 72.11% 72.38%
Earnings before Tax (EBT) 1 40,088 33,583 29,968 34,988 40,914 44,222 44,334 45,317
Net income 1 32,184 26,487 22,970 27,054 32,723 36,312 36,823 38,718
Net margin 55.07% 48.62% 46.89% 47.52% 49.96% 53.37% 54.18% 54.68%
EPS 2 3.044 2.505 2.173 2.559 3.095 3.422 3.453 3.627
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 1.537 1.242 1.130 - 1.672 1.906 1.937 2.027
Announcement Date 3/27/20 3/30/21 3/29/22 3/30/23 3/28/24 - - -
1HKD in Million2HKD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2020 S2 2021 S1 2021 S2 2022 S1 2022 Q3 2022 S2 2023 S1 2023 Q3 2023 Q4 2023 S2 2024 Q1 2024 S1 2024 S2
Net sales 1 29,275 28,743 25,731 25,050 23,932 27,232 14,794 29,700 29,699 17,786 16,874 35,799 17,161 31,676 32,031
EBITDA - - - - - - - - - - - - - - -
EBIT 1 - - - 16,286 15,107 17,692 10,660 21,396 22,986 13,559 12,346 - 12,981 20,936 21,187
Operating Margin - - - 65.01% 63.12% 64.97% 72.06% 72.04% 77.4% 76.23% 73.17% - 75.64% 66.09% 66.15%
Earnings before Tax (EBT) - - - - - 17,389 - - 21,523 - - - - - -
Net income - - - - - 13,472 - - 17,694 - - - - - -
Net margin - - - - - 49.47% - - 59.58% - - - - - -
EPS 1.412 1.438 1.067 1.190 0.9831 1.274 - 1.285 1.608 - - 1.487 - 1.630 1.610
Dividend per Share - - - - - 0.4470 - - 0.5270 - - - - - -
Announcement Date 3/27/20 8/30/20 3/30/21 8/30/21 3/29/22 8/30/22 10/28/22 3/30/23 8/30/23 10/30/23 3/28/24 3/28/24 - - -
1HKD in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - - -
Net Cash position - - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 11.5% 9.05% 7.67% - 10.6% 10.9% 10.8% 10.9%
ROA (Net income/ Total Assets) 1.15% 0.86% 0.7% - 0.9% 0.91% 0.88% 0.9%
Assets 1 2,798,609 3,079,884 3,281,429 - 3,635,889 4,008,672 4,167,807 4,296,063
Book Value Per Share 2 28.60 29.70 30.40 - 30.30 32.00 34.00 35.60
Cash Flow per Share - - - - - - - -
Capex - - - - - - - -
Capex / Sales - - - - - - - -
Announcement Date 3/27/20 3/30/21 3/29/22 3/30/23 3/28/24 - - -
1HKD in Million2HKD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for BOC Hong Kong Holdings Ltd

Trading Rating
Investor Rating
ESG Refinitiv
B+
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
13
Last Close Price
23.7 HKD
Average target price
26.46 HKD
Spread / Average Target
+11.66%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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