Added to YB: 2025-12-08
Pitch date: 2025-12-05
HKXCY [bullish]
Hong Kong Exchanges and Clearing Limited
-1.62%
current return
Author Info
No bio for this author
Company Info
Hong Kong Exchanges and Clearing Limited, together with its subsidiaries, owns and operates stock and futures exchanges, and related clearing houses in Hong Kong, the United Kingdom, and Mainland China.
Market Cap
HKD 513.7B
Pitch Price
HKD 408.40
Price Target
80.00 (-80%)
Dividend
2.95%
EV/EBITDA
9.84
P/E
29.95
EV/Sales
7.45
Sector
Capital Markets
Category
growth
The Toll-Booth to the Asian Century - Hong Kong Exchanges and Clearing Limited
HKXCY: Exchange as royalty on Hong Kong/China economic activity. $27B daily turnover = current EV. Structural advantages: rising volumes, listings, derivatives growth, volatility spikes, foreign inflows. 23% avg ROE, 40%+ margins, high operating leverage. Dilution ended 2021, enabling pure upside flow-through. DCF suggests $80 target (~50% upside) over 5yr via compounding at ROE rates.
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