pww.comChina Pacific Insurance (Group) Co., Ltd. - SEHK:2601

Profile

Price

HKD$ 23.8

()

Market Cap

HKD$ 308.767B

Shares Out

12685.269 M

Employees

98732

Dividends

Yield

5.43 %

Payout (TTM)

29.68 %

DPS (TTM)

1.02

DPS Growth 3Yr

-12.64 %

DPS Growth 5Yr

22.58 %

DPS Growth 10Yr

106.86 %

FinancialHealth

Cash

-

Net Debt

HKD$ -18.075B

Debt/Equity (TTM)

4.69 %

Returns(TTM)

ROA

1.58 %

ROE

16.19 %

ROCE

0.66 %

Valuation(TTM)

P/E

7.337

P/B

1.139

P/FCF

1.403 %

Margins(TTM)

Gross

93.78 %

Operating

5.25 %

Pre-Tax

14.19 %

Net

12.58 %

FCFPS

20.799 %

Growth(CAGR)

RevPS 3Yr

-0.254 %

RevPS 5Yr

-0.139 %

RevPS 10Yr

0.583 %

NetIncomePS 3Yr

0.076 %

NetIncomePS 5Yr

0.422 %

NetIncomePS 10Yr

1.775 %

  • Last Price

    HKD$ 23.8

  • 5D

    5.778%

  • 1M

    3.478%

  • 3M

    -11.852%

  • 1Y

    71.223%

China Pacific Insurance (Group) Co., Ltd. demonstrated strong growth in H1 2023, with a 7.4% increase in insurance revenue and a 31.5% rise in new business value. Strategic initiatives, such as the Changhang transformation and growth in non-auto insurance, contributed positively. However, the company faced challenges, including an 8.7% decline in net profits due to new accounting standards, pressure from declining interest rates, and difficulties in critical illness insurance sales. Additionally, macroeconomic uncertainties and regulatory changes pose risks. Overall, while the company shows potential for long-term growth, it must navigate these near-term pressures effectively.

Valuation And Growth

Segments

Guidance and Outlook

Bulls - Bears Say

1Y

3Y

5Y

ALL

For the Fiscal PeriodFeb-28-2025Jan-31-2025Dec-31-2024Nov-30-2024Oct-31-2024Sep-30-2024Aug-31-2024Jul-31-2024Jun-30-2024May-31-2024Apr-30-2024Mar-31-2024Feb-29-2024Jan-31-2024Dec-31-2023Nov-30-2023Oct-31-2023Sep-30-2023Aug-31-2023Jul-31-2023Jun-30-2023May-31-2023Apr-30-2023Mar-31-2023Feb-28-2023Jan-31-2023Dec-31-2022Nov-30-2022Oct-31-2022Sep-30-2022Aug-31-2022Jul-31-2022Jun-30-2022May-31-2022Apr-30-2022Mar-31-2022Feb-28-2022Jan-31-2022Dec-31-2021Nov-30-2021Oct-31-2021Sep-30-2021Aug-31-2021Jul-31-2021Jun-30-2021May-31-2021Apr-30-2021Mar-31-2021Feb-28-2021Jan-31-2021Dec-31-2020Nov-30-2020Oct-31-2020Sep-30-2020Aug-31-2020Jul-31-2020Jun-30-2020May-31-2020Apr-30-2020Mar-31-2020Feb-29-2020Jan-31-2020Dec-31-2019Nov-30-2019Oct-31-2019Sep-30-2019Aug-31-2019Jul-31-2019Jun-30-2019May-31-2019Apr-30-2019Mar-31-2019Feb-28-2019Jan-31-2019Dec-31-2018Nov-30-2018Oct-31-2018Sep-30-2018Aug-31-2018Jul-31-2018Jun-30-2018May-31-2018Apr-30-2018Mar-31-2018Feb-28-2018Jan-31-2018Dec-31-2017Nov-30-2017Oct-31-2017Sep-30-2017Aug-31-2017Jul-31-2017Jun-30-2017May-31-2017Apr-30-2017Mar-31-2017Feb-28-2017Jan-31-2017Dec-31-2016Nov-30-2016Oct-31-2016Sep-30-2016Aug-31-2016Jul-31-2016Jun-30-2016May-31-2016Apr-30-2016Mar-31-2016Feb-29-2016Jan-31-2016Dec-31-2015Nov-30-2015Oct-31-2015Sep-30-2015Aug-31-2015Jul-31-2015Jun-30-2015May-31-2015Apr-30-2015Mar-31-2015Feb-28-2015Jan-31-2015Dec-31-2014Nov-30-2014Oct-31-2014Sep-30-2014Aug-31-2014Jul-31-2014Jun-30-2014May-31-2014Apr-30-2014Mar-31-2014Feb-28-2014Jan-31-2014Dec-31-2013Nov-30-2013Oct-31-2013Sep-30-2013Aug-31-2013Jul-31-2013Jun-30-2013May-31-2013Apr-30-2013Mar-31-2013Feb-28-2013Jan-31-2013Dec-31-2012Nov-30-2012Oct-31-2012Sep-30-2012Aug-31-2012Jul-31-2012Jun-30-2012May-31-2012Apr-30-2012Mar-31-2012Feb-29-2012Jan-31-2012Dec-31-2011Nov-30-2011Oct-31-2011Sep-30-2011Aug-31-2011Jul-31-2011Jun-30-2011May-31-2011Apr-30-2011Mar-31-2011Feb-28-2011Jan-31-2011Dec-31-2010Nov-30-2010Oct-31-2010Sep-30-2010Aug-31-2010Jul-31-2010Jun-30-2010May-31-2010Apr-30-2010Mar-31-2010Feb-28-2010Jan-31-2010Dec-31-2009

Valuation Multiples

TEV/LTM Unlevered FCF

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

27.81

26.85

25.45

25.49

21.66

7.95

8.21

6.81

7.58

7.10

6.96

12.77

5.87

5.94

5.94

6.00

6.11

7.84

9.83

9.77

10.63

12.18

11.80

9.94

37.04

31.46

33.16

33.18

28.80

8.94

8.86

17.31

16.23

15.94

17.33

6.39

10.86

11.72

12.47

11.51

11.63

44.00

46.95

13.72

12.99

12.40

12.99

13.57

14.48

13.44

12.68

13.73

14.48

11.49

10.86

11.30

10.70

11.20

10.89

8.90

19.59

19.55

20.02

20.14

20.60

-

-

46.84

45.86

42.79

39.98

-

-

-

-

-

-

31.87

30.69

-

-

-

-

12.46

8.96

9.10

10.75

10.16

9.64

7.56

7.61

18.77

21.74

23.03

24.51

13.71

12.50

12.05

11.94

9.66

8.51

17.22

17.44

4.66

4.24

4.06

3.94

13.63

13.55

13.84

15.00

15.78

14.13

8.99

8.74

20.16

19.63

21.70

22.21

31.07

20.12

21.22

21.37

17.66

17.29

-

-

12.79

12.99

12.44

12.84

15.35

7.40

7.25

6.55

6.27

6.85

20.28

23.65

15.28

16.44

16.38

17.59

65.45

118.70

117.70

121.63

121.49

133.41

5.23

5.50

13.84

13.61

13.06

15.04

168.16

150.45

139.52

179.79

Market Cap/LTM Levered FCF

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

30.23

28.71

26.51

26.57

20.52

6.44

6.76

5.54

6.42

5.87

5.70

12.74

4.61

4.68

4.68

4.75

4.86

6.24

8.81

8.74

9.74

11.54

11.09

8.69

41.33

33.41

35.82

35.85

29.65

7.65

7.56

17.31

15.95

15.58

17.34

5.58

9.69

10.67

11.52

10.43

10.56

62.54

67.91

13.02

12.18

11.51

12.18

12.79

13.68

12.47

11.59

12.80

13.67

10.34

9.63

11.16

10.48

11.05

10.70

8.04

18.55

18.50

19.05

19.20

19.74

-

-

61.24

59.70

54.89

50.50

-

-

-

-

-

-

31.91

30.48

-

-

-

-

11.44

8.07

8.21

9.98

9.35

8.80

6.34

6.40

18.25

21.71

23.22

24.94

13.24

11.06

10.59

10.47

8.04

6.81

14.34

14.58

3.90

3.47

3.28

3.15

12.49

12.40

12.75

14.16

15.10

13.11

8.32

8.03

22.44

21.72

24.54

25.22

38.90

21.22

22.64

22.84

18.05

17.57

-

-

12.02

12.25

11.62

12.08

15.66

7.38

7.22

6.49

6.19

6.80

22.60

26.66

16.46

17.76

17.69

19.04

116.57

-

-

-

-

-

5.92

6.19

17.31

17.06

16.44

18.66

195.15

174.12

161.15

208.96

P/LTM Normalized EPS

10.88

10.88

11.46

11.40

12.37

16.23

12.31

15.16

14.30

14.77

13.24

11.43

28.68

27.83

26.62

26.97

31.06

19.10

18.50

14.01

12.17

13.05

14.62

16.61

18.00

16.82

15.98

15.87

12.41

13.64

14.07

12.75

14.86

13.42

13.13

12.02

13.17

13.08

13.51

13.49

13.65

13.28

14.43

14.28

15.90

18.88

18.05

20.24

21.91

17.20

19.04

19.16

15.82

14.99

14.81

13.87

12.81

13.29

14.46

15.07

14.87

16.77

17.64

15.97

16.09

18.08

19.60

19.19

18.15

17.11

17.99

17.99

19.64

17.79

16.41

18.12

19.43

21.18

19.54

21.17

19.70

20.57

19.54

24.20

31.43

31.04

32.52

32.77

33.59

32.73

33.88

31.85

31.57

28.29

25.86

25.32

24.84

26.37

25.24

27.45

26.64

24.33

23.24

19.46

19.64

19.82

20.06

16.06

17.67

17.48

21.69

19.88

18.53

15.75

16.04

25.15

30.46

32.52

35.14

34.84

30.80

29.91

28.91

21.59

17.88

20.34

20.17

19.47

17.26

16.28

15.82

25.77

26.24

26.70

30.22

31.92

27.95

26.86

26.45

32.93

32.10

37.50

37.80

42.42

40.71

43.59

45.30

33.82

36.10

50.47

48.80

39.40

40.29

38.51

39.45

27.90

19.59

19.59

17.91

16.91

18.45

19.65

22.02

25.62

27.43

27.09

29.71

28.91

32.17

32.02

32.83

33.23

37.06

25.12

27.06

25.93

25.35

24.14

28.20

-

-

-

-

P/LTM EPS

7.35

7.35

7.75

7.71

8.37

11.08

8.40

10.40

9.80

10.13

9.08

8.13

14.35

13.93

13.32

13.50

15.55

12.03

11.65

8.84

7.69

8.24

9.23

10.13

10.88

10.16

9.66

9.58

7.49

8.58

8.85

8.17

9.53

8.60

8.42

8.22

9.20

9.14

9.44

9.43

9.53

9.44

10.10

9.99

11.12

13.21

12.63

14.40

16.66

13.07

14.47

14.57

12.03

10.99

10.85

8.70

8.03

8.34

9.07

9.22

10.22

11.52

12.13

10.98

11.06

12.18

13.20

17.71

16.75

15.79

16.60

17.12

18.82

17.05

15.73

17.37

18.62

19.64

18.12

18.93

17.61

18.40

17.47

20.97

25.49

25.17

26.37

26.57

27.24

26.95

27.89

26.07

25.84

23.16

21.17

20.62

21.58

22.91

21.92

23.85

23.15

20.72

19.80

16.20

16.35

16.50

16.69

13.41

12.45

12.32

15.28

14.01

13.06

12.98

13.22

17.68

21.41

22.86

24.70

27.80

30.74

29.84

28.85

21.54

17.84

16.52

16.38

17.92

15.88

14.98

14.56

14.06

14.32

14.56

16.49

17.41

15.25

19.77

19.47

21.69

21.14

24.70

24.90

31.12

39.77

42.58

44.25

33.04

35.26

33.88

32.76

33.35

34.11

32.60

33.40

19.96

16.85

16.85

15.40

14.54

15.87

15.36

17.21

19.59

20.98

20.72

22.72

22.21

25.77

25.66

26.30

26.62

29.69

19.90

21.43

20.30

19.84

18.89

22.07

137.25

120.73

112.34

130.23

P/BV

1.14

1.14

1.20

1.19

1.30

1.41

1.07

1.10

1.04

1.07

0.96

0.89

1.03

1.00

0.96

0.97

1.12

1.13

1.10

1.16

1.01

1.08

1.21

1.09

1.20

1.12

1.06

1.06

0.83

0.86

0.89

0.88

1.02

0.92

0.90

0.97

1.15

1.14

1.18

1.18

1.19

1.19

1.14

1.13

1.26

1.49

1.43

1.69

2.10

1.65

1.82

1.83

1.51

1.52

1.50

1.44

1.33

1.38

1.50

1.43

1.70

1.91

2.01

1.82

1.84

1.94

2.11

2.16

2.04

1.92

2.02

2.06

2.16

1.95

1.80

1.99

2.13

2.32

2.14

2.21

2.06

2.15

2.04

2.24

2.66

2.62

2.75

2.77

2.84

2.54

2.63

2.34

2.32

2.08

1.90

1.89

1.87

1.98

1.90

2.07

2.00

2.05

1.96

1.85

1.87

1.89

1.91

1.78

1.69

1.67

2.07

1.90

1.77

1.56

1.59

1.83

2.21

2.36

2.55

2.62

2.84

2.75

2.66

1.99

1.65

1.65

1.64

1.78

1.58

1.49

1.45

1.41

1.44

1.46

1.66

1.75

1.53

1.65

1.63

1.46

1.43

1.66

1.68

1.72

2.06

2.20

2.29

1.71

1.82

2.13

2.06

2.19

2.24

2.14

2.19

2.16

2.42

2.42

2.21

2.08

2.28

1.99

2.23

2.18

2.33

2.30

2.52

2.37

2.46

2.45

2.51

2.54

2.83

2.53

2.72

2.51

2.46

2.34

2.73

4.16

3.66

3.41

3.95

P/Tangible BV

1.17

1.17

1.24

1.23

1.33

1.45

1.10

1.14

1.07

1.11

0.99

0.92

1.07

1.04

0.99

1.00

1.16

1.17

1.13

1.20

1.04

1.11

1.25

1.13

1.24

1.16

1.10

1.09

0.85

0.89

0.92

0.91

1.06

0.96

0.93

1.00

1.19

1.18

1.22

1.22

1.23

1.23

1.17

1.16

1.29

1.54

1.47

1.74

2.15

1.69

1.87

1.88

1.55

1.56

1.54

1.48

1.37

1.42

1.54

1.47

1.74

1.97

2.07

1.87

1.89

2.01

2.18

2.21

2.09

1.97

2.08

2.12

2.21

2.00

1.85

2.04

2.19

2.38

2.19

2.25

2.09

2.19

2.08

2.28

2.70

2.67

2.79

2.82

2.89

2.59

2.68

2.38

2.36

2.11

1.93

1.92

1.90

2.01

1.93

2.10

2.03

2.09

1.99

1.88

1.90

1.92

1.94

1.81

1.71

1.70

2.10

1.93

1.80

1.59

1.62

1.86

2.25

2.40

2.59

2.67

2.88

2.80

2.71

2.02

1.67

1.68

1.67

1.82

1.61

1.52

1.48

1.44

1.47

1.49

1.69

1.78

1.56

1.68

1.66

1.49

1.45

1.69

1.71

1.76

2.10

2.25

2.33

1.74

1.86

2.17

2.10

2.23

2.28

2.18

2.23

2.20

2.46

2.46

2.25

2.12

2.32

2.03

2.28

2.22

2.38

2.35

2.58

2.39

2.48

2.47

2.53

2.56

2.86

2.55

2.75

2.54

2.48

2.36

2.76

4.21

3.70

3.44

3.99

TEV/LTM Total Revenue

1.44

1.44

1.49

1.48

1.57

1.46

1.18

1.23

1.17

1.20

1.10

1.12

0.66

0.65

0.64

0.65

0.72

0.67

0.65

0.70

0.64

0.66

0.73

0.74

0.79

0.76

0.72

0.72

0.61

0.58

0.60

0.58

0.65

0.61

0.59

0.60

0.74

0.75

0.75

0.76

0.77

0.77

0.69

0.69

0.75

0.86

0.83

1.00

1.18

1.00

1.06

1.06

0.92

0.88

0.87

0.84

0.79

0.78

0.84

0.77

0.90

0.97

1.03

0.95

0.96

1.02

1.09

1.08

1.03

0.98

1.03

0.99

0.99

0.92

0.87

0.94

0.99

1.07

1.01

0.99

0.94

0.98

0.95

1.11

1.35

1.35

1.38

1.39

1.42

1.25

1.30

1.22

1.20

1.12

1.04

1.05

1.09

1.13

1.09

1.18

1.13

1.18

1.13

1.02

1.02

1.03

1.04

1.11

1.01

1.02

1.21

1.14

1.09

1.08

1.09

1.21

1.41

1.49

1.59

1.54

1.78

1.72

1.70

1.38

1.21

1.25

1.26

1.18

1.08

1.03

1.00

1.15

1.15

1.17

1.27

1.33

1.20

1.15

1.12

1.14

1.11

1.23

1.26

1.29

1.42

1.49

1.50

1.24

1.22

1.33

1.30

1.42

1.44

1.38

1.42

1.24

1.24

1.21

1.10

1.05

1.15

1.11

1.29

1.31

1.41

1.41

1.51

1.41

1.47

1.46

1.51

1.51

1.65

1.44

1.51

1.58

1.55

1.49

1.71

2.67

2.39

2.22

2.86

Market Cap/LTM Total Revenue

0.95

0.95

1.01

1.00

1.08

1.14

0.86

0.93

0.88

0.91

0.81

0.70

0.47

0.45

0.44

0.45

0.53

0.54

0.51

0.56

0.50

0.53

0.59

0.51

0.54

0.51

0.47

0.47

0.37

0.40

0.42

0.41

0.48

0.44

0.42

0.46

0.54

0.55

0.55

0.55

0.57

0.55

0.53

0.53

0.59

0.70

0.67

0.79

0.93

0.75

0.81

0.81

0.67

0.67

0.67

0.67

0.61

0.60

0.67

0.62

0.71

0.78

0.84

0.76

0.77

0.79

0.86

0.90

0.84

0.79

0.84

0.81

0.81

0.74

0.69

0.76

0.81

0.86

0.80

0.86

0.81

0.85

0.83

0.91

1.08

1.08

1.11

1.12

1.15

1.04

1.09

1.02

1.00

0.92

0.84

0.91

0.91

0.94

0.91

0.99

0.95

0.97

0.93

0.91

0.90

0.91

0.92

0.94

0.85

0.86

1.05

0.98

0.92

0.85

0.86

1.01

1.20

1.29

1.38

1.37

1.48

1.41

1.40

1.07

0.91

0.91

0.93

0.96

0.85

0.81

0.78

0.87

0.86

0.89

0.99

1.05

0.91

0.95

0.91

0.94

0.91

1.02

1.05

1.03

1.16

1.24

1.25

0.98

0.96

1.08

1.05

1.17

1.19

1.13

1.17

1.07

1.17

1.14

1.02

0.98

1.07

1.03

1.21

1.27

1.37

1.36

1.46

1.44

1.54

1.53

1.58

1.58

1.72

1.56

1.63

1.76

1.74

1.67

1.90

2.61

2.33

2.16

2.80

TEV/LTM EBITDA

7.74

7.74

8.04

7.97

8.44

9.61

7.73

8.99

8.57

8.82

8.06

8.04

11.71

11.43

11.28

11.45

12.74

8.91

8.61

8.29

7.57

7.84

8.62

9.45

10.05

9.70

9.20

9.21

7.83

7.38

7.63

6.73

7.49

7.02

6.87

6.16

7.25

7.33

7.33

7.41

7.54

7.45

7.32

7.28

7.92

9.07

8.78

10.23

11.86

10.07

10.61

10.62

9.22

8.51

8.43

7.90

7.40

7.27

7.90

7.82

8.41

9.07

9.65

8.91

9.00

9.87

10.53

10.47

9.91

9.46

9.91

9.93

10.59

9.83

9.27

10.04

10.59

11.53

10.90

10.49

9.93

10.40

10.11

12.49

16.42

16.38

16.77

16.88

17.26

16.12

16.76

16.45

16.11

15.03

14.04

12.92

14.56

15.02

14.57

15.69

15.10

14.23

13.70

10.85

10.79

10.87

11.00

9.74

10.16

10.31

12.18

11.51

10.92

10.18

10.25

14.11

16.34

17.31

18.42

17.57

17.73

17.11

16.94

13.71

12.08

13.73

13.90

12.27

11.17

10.70

10.37

14.31

14.23

14.53

15.75

16.58

14.85

13.93

13.54

15.66

15.25

16.86

17.25

19.20

18.00

18.99

19.13

15.80

15.47

20.23

19.79

18.43

18.72

17.92

18.50

13.97

11.17

10.94

9.90

9.47

10.35

10.52

12.27

13.33

14.35

14.30

15.35

14.46

15.10

14.97

15.47

15.45

16.97

12.16

12.77

12.56

12.36

11.86

13.66

-

-

-

-

TEV/LTM EBIT

8.30

8.30

8.63

8.55

9.05

10.41

8.41

9.98

9.51

9.80

8.95

8.90

13.77

13.45

13.27

13.47

14.98

10.02

9.67

9.18

8.38

8.69

9.55

10.58

11.27

10.88

10.31

10.33

8.78

8.20

8.47

7.48

8.33

7.80

7.64

6.76

7.93

8.02

8.02

8.10

8.24

8.04

8.05

8.00

8.70

9.98

9.66

11.24

12.97

11.02

11.61

11.62

10.09

9.26

9.18

8.61

8.07

7.93

8.62

8.59

8.84

9.54

10.15

9.37

9.46

10.68

11.39

11.02

10.43

9.96

10.43

10.47

11.23

10.42

9.83

10.65

11.23

12.13

11.47

11.11

10.52

11.01

10.71

13.28

17.47

17.43

17.85

17.96

18.37

17.17

17.85

17.66

17.29

16.13

15.08

13.85

15.57

16.05

15.57

16.77

16.14

15.08

14.52

11.48

11.41

11.50

11.63

10.23

10.80

10.97

12.96

12.25

11.62

10.76

10.83

15.21

17.61

18.66

19.86

18.96

19.01

18.34

18.16

14.70

12.95

14.72

14.90

13.16

11.99

11.48

11.12

15.62

15.53

15.86

17.19

18.08

16.20

15.04

14.62

17.28

16.83

18.60

19.03

21.37

19.71

20.79

20.94

17.30

16.93

22.35

21.86

20.15

20.47

19.60

20.23

15.05

11.76

11.52

10.42

9.97

10.90

11.05

12.89

14.14

15.22

15.17

16.28

15.37

16.17

16.04

16.57

16.55

18.18

12.80

13.44

13.25

13.03

12.50

14.40

-

-

-

-

Margin Analysis

Gross Margin

20.00

20.00

20.00

20.00

20.00

16.89

16.89

15.38

15.38

15.38

15.38

15.81

19.41

19.41

19.41

19.41

19.41

20.94

20.94

21.65

21.65

20.81

20.81

20.81

26.44

26.44

26.44

23.00

23.00

23.00

25.14

25.14

25.14

22.64

22.64

22.64

24.64

24.64

24.64

24.88

24.88

24.88

24.57

24.57

24.57

25.19

25.19

25.19

25.26

25.26

25.26

25.07

25.07

25.07

25.47

25.47

25.47

24.70

24.70

24.70

27.96

27.96

27.96

27.78

27.78

27.78

27.62

27.62

27.62

27.01

27.01

27.01

23.96

23.96

23.96

23.87

23.87

23.87

24.71

24.71

24.71

25.16

25.16

25.16

23.88

23.88

23.88

23.63

23.63

23.63

23.56

23.56

23.56

26.04

26.04

26.04

24.64

24.64

24.64

23.86

23.86

23.86

27.63

27.63

27.63

29.87

29.87

29.87

28.33

28.33

28.33

30.42

30.42

30.42

27.66

27.66

27.66

28.00

28.00

28.00

28.07

28.07

28.07

28.64

28.64

28.64

27.36

27.36

27.36

26.75

26.75

26.75

25.49

25.49

25.49

25.10

25.10

25.10

25.56

25.56

25.56

24.78

24.78

24.78

25.40

25.40

25.40

24.63

24.63

24.63

24.50

24.50

24.50

25.67

25.67

25.67

21.26

21.26

21.26

24.19

24.19

24.19

25.41

25.41

25.41

25.63

25.63

25.63

25.51

25.51

25.51

25.85

25.85

25.85

27.02

27.02

27.02

27.99

27.99

27.99

30.66

30.66

30.66

SG&A Margin

2.63

2.63

2.63

2.63

2.63

2.30

2.30

2.44

2.44

2.44

2.44

2.68

10.19

10.19

10.19

10.19

10.19

10.13

10.13

2.55

2.55

2.27

2.27

2.27

5.78

5.78

5.78

7.34

7.34

7.34

9.52

9.52

9.52

9.64

9.64

9.64

9.73

9.73

9.73

9.91

9.91

9.91

10.35

10.35

10.35

10.62

10.62

10.62

10.54

10.54

10.54

10.19

10.19

10.19

9.93

9.93

9.93

9.92

9.92

9.92

10.31

10.31

10.31

10.52

10.52

10.52

10.32

10.32

10.32

9.77

9.77

9.77

9.20

9.20

9.20

8.66

8.66

8.66

8.85

8.85

8.85

9.56

9.56

9.56

9.75

9.75

9.75

10.13

10.13

10.13

10.41

10.41

10.41

11.03

11.03

11.03

10.16

10.16

10.16

10.41

10.41

10.41

9.96

9.96

9.96

10.07

10.07

10.07

10.08

10.08

10.08

10.13

10.13

10.13

10.47

10.47

10.47

10.65

10.65

10.65

10.03

10.03

10.03

9.98

9.98

9.98

9.67

9.67

9.67

10.03

10.03

10.03

10.52

10.52

10.52

10.60

10.60

10.60

10.90

10.90

10.90

10.72

10.72

10.72

10.82

10.82

10.82

10.51

10.51

10.51

10.16

10.16

10.16

9.76

9.76

9.76

8.95

8.95

8.95

8.62

8.62

8.62

8.65

8.65

8.65

8.78

8.78

8.78

9.11

9.11

9.11

9.12

9.12

9.12

10.83

10.83

10.83

9.36

9.36

9.36

21.23

21.23

21.23

EBITDA Margin

18.11

18.11

18.11

18.11

18.11

14.80

14.80

13.17

13.17

13.17

13.17

13.44

5.35

5.35

5.35

5.35

5.35

7.24

7.24

19.52

19.52

18.90

18.90

18.90

16.46

16.46

16.46

11.40

11.40

11.40

11.60

11.60

11.60

9.32

9.32

9.32

9.91

9.91

9.91

10.03

10.03

10.03

9.09

9.09

9.09

9.43

9.43

9.43

9.60

9.60

9.60

10.06

10.06

10.06

10.31

10.31

10.31

9.52

9.52

9.52

10.69

10.69

10.69

10.26

10.26

10.26

10.36

10.36

10.36

10.02

10.02

10.02

9.37

9.37

9.37

9.26

9.26

9.26

9.41

9.41

9.41

8.86

8.86

8.86

8.22

8.22

8.22

7.80

7.80

7.80

7.44

7.44

7.44

8.14

8.14

8.14

8.03

8.03

8.03

8.60

8.60

8.60

9.99

9.99

9.99

11.94

11.94

11.94

9.93

9.93

9.93

9.56

9.56

9.56

8.61

8.61

8.61

8.76

8.76

8.76

10.04

10.04

10.04

10.54

10.54

10.54

9.65

9.65

9.65

8.43

8.43

8.43

7.12

7.12

7.12

6.40

6.40

6.40

6.31

6.31

6.31

5.67

5.67

5.67

7.86

7.86

7.86

7.47

7.47

7.47

7.70

7.70

7.70

8.90

8.90

8.90

11.09

11.09

11.09

10.53

10.53

10.53

9.83

9.83

9.83

9.77

9.77

9.77

9.75

9.75

9.75

12.61

12.61

12.61

13.69

13.69

13.69

12.11

12.11

12.11

5.60

5.60

5.60

EBIT Margin

17.30

17.30

17.30

17.30

17.30

14.01

14.01

12.30

12.30

12.30

12.30

12.57

4.80

4.80

4.80

4.80

4.80

6.70

6.70

18.67

18.67

18.03

18.03

18.03

15.66

15.66

15.66

10.81

10.81

10.81

10.95

10.95

10.95

8.81

8.81

8.81

9.38

9.38

9.38

9.53

9.53

9.53

8.59

8.59

8.59

8.91

8.91

8.91

9.06

9.06

9.06

9.49

9.49

9.49

9.76

9.76

9.76

8.98

8.98

8.98

10.17

10.17

10.17

9.73

9.73

9.73

9.84

9.84

9.84

9.49

9.49

9.49

8.83

8.83

8.83

8.74

8.74

8.74

8.89

8.89

8.89

8.33

8.33

8.33

7.72

7.72

7.72

7.26

7.26

7.26

6.93

6.93

6.93

7.60

7.60

7.60

7.55

7.55

7.55

8.07

8.07

8.07

9.48

9.48

9.48

11.41

11.41

11.41

9.34

9.34

9.34

8.92

8.92

8.92

7.99

7.99

7.99

8.12

8.12

8.12

9.37

9.37

9.37

9.95

9.95

9.95

8.99

8.99

8.99

7.76

7.76

7.76

6.45

6.45

6.45

5.71

5.71

5.71

5.62

5.62

5.62

4.99

4.99

4.99

7.18

7.18

7.18

6.79

6.79

6.79

7.04

7.04

7.04

8.26

8.26

8.26

10.53

10.53

10.53

9.97

9.97

9.97

9.27

9.27

9.27

9.19

9.19

9.19

9.10

9.10

9.10

11.96

11.96

11.96

13.02

13.02

13.02

11.42

11.42

11.42

4.76

4.76

4.76

Earnings from Cont. Ops Margin

14.75

14.75

14.75

14.75

14.75

11.79

11.79

10.26

10.26

10.26

10.26

10.11

3.87

3.87

3.87

3.87

3.87

5.11

5.11

14.40

14.40

13.96

13.96

13.96

12.56

12.56

12.56

8.71

8.71

8.71

8.09

8.09

8.09

6.32

6.32

6.32

6.66

6.66

6.66

6.52

6.52

6.52

5.91

5.91

5.91

6.05

6.05

6.05

6.07

6.07

6.07

6.68

6.68

6.68

8.08

8.08

8.08

7.40

7.40

7.40

7.69

7.69

7.69

7.19

7.19

7.19

5.58

5.58

5.58

5.22

5.22

5.22

4.82

4.82

4.82

4.86

4.86

4.86

5.01

5.01

5.01

4.70

4.70

4.70

4.63

4.63

4.63

4.24

4.24

4.24

4.15

4.15

4.15

4.62

4.62

4.62

4.40

4.40

4.40

4.99

4.99

4.99

5.97

5.97

5.97

7.31

7.31

7.31

7.15

7.15

7.15

6.67

6.67

6.67

5.74

5.74

5.74

5.21

5.21

5.21

4.96

4.96

4.96

5.35

5.35

5.35

5.13

5.13

5.13

4.89

4.89

4.89

5.50

5.50

5.50

4.47

4.47

4.47

3.94

3.94

3.94

3.07

3.07

3.07

2.71

2.71

2.71

3.23

3.23

3.23

3.53

3.53

3.53

5.41

5.41

5.41

6.81

6.81

6.81

6.73

6.73

6.73

6.27

6.27

6.27

6.13

6.13

6.13

5.68

5.68

5.68

7.26

7.26

7.26

8.70

8.70

8.70

7.17

7.17

7.17

5.13

5.13

5.13

Net Income Margin

14.32

14.32

14.32

14.32

14.32

11.47

11.47

10.00

10.00

10.00

10.00

9.87

3.76

3.76

3.76

3.76

3.76

4.98

4.98

14.08

14.08

13.65

13.65

13.65

12.27

12.27

12.27

8.50

8.50

8.50

7.87

7.87

7.87

6.14

6.14

6.14

6.46

6.46

6.46

6.32

6.32

6.32

5.72

5.72

5.72

5.86

5.86

5.86

5.91

5.91

5.91

6.52

6.52

6.52

7.90

7.90

7.90

7.24

7.24

7.24

7.53

7.53

7.53

7.03

7.03

7.03

5.46

5.46

5.46

5.10

5.10

5.10

4.71

4.71

4.71

4.74

4.74

4.74

4.90

4.90

4.90

4.60

4.60

4.60

4.54

4.54

4.54

4.16

4.16

4.16

4.08

4.08

4.08

4.53

4.53

4.53

4.32

4.32

4.32

4.89

4.89

4.89

5.86

5.86

5.86

7.18

7.18

7.18

7.03

7.03

7.03

6.55

6.55

6.55

5.63

5.63

5.63

5.11

5.11

5.11

4.88

4.88

4.88

5.27

5.27

5.27

5.06

5.06

5.06

4.82

4.82

4.82

5.42

5.42

5.42

4.41

4.41

4.41

3.89

3.89

3.89

3.04

3.04

3.04

2.69

2.69

2.69

3.21

3.21

3.21

3.51

3.51

3.51

5.36

5.36

5.36

6.74

6.74

6.74

6.65

6.65

6.65

6.19

6.19

6.19

6.06

6.06

6.06

5.60

5.60

5.60

7.16

7.16

7.16

8.56

8.56

8.56

7.06

7.06

7.06

5.02

5.02

5.02

Levered Free Cash Flow Margin

-46.04

-46.04

-46.04

-46.04

-46.04

-47.45

-47.45

-50.67

-50.67

-50.67

-50.67

-191.54

-140.54

-140.54

-140.54

-140.54

-140.54

-137.73

-137.73

-193.80

-193.80

-54.77

-54.77

-54.77

5.85

5.85

5.85

9.37

9.37

9.37

10.09

10.09

10.09

5.50

5.50

5.50

11.66

11.66

11.66

8.75

8.75

8.75

6.05

6.05

6.05

9.94

9.94

9.94

2.22

2.22

2.22

8.55

8.55

8.55

3.81

3.81

3.81

12.12

12.12

12.12

7.28

7.28

7.28

1.45

1.45

1.45

6.90

6.90

6.90

6.34

6.34

6.34

5.93

5.93

5.93

8.29

8.29

8.29

7.72

7.72

7.72

5.44

5.44

5.44

5.85

5.85

5.85

-2.17

-2.17

-2.17

1.67

1.67

1.67

-10.84

-10.84

-10.84

-10.09

-10.09

-10.09

3.11

3.11

3.11

-13.22

-13.22

-13.22

17.22

17.22

17.22

10.51

10.51

10.51

12.66

12.66

12.66

5.55

5.55

5.55

10.31

10.31

10.31

13.35

13.35

13.35

7.24

7.24

7.24

24.58

24.58

24.58

8.29

8.29

8.29

6.97

6.97

6.97

10.83

10.83

10.83

4.17

4.17

4.17

2.18

2.18

2.18

5.46

5.46

5.46

-1.54

-1.54

-1.54

9.71

9.71

9.71

7.21

7.21

7.21

15.80

15.80

15.80

4.99

4.99

4.99

7.69

7.69

7.69

1.23

1.23

1.23

-0.72

-0.72

-0.72

26.27

26.27

26.27

10.93

10.93

10.93

7.28

7.28

7.28

5.86

5.86

5.86

Unlevered Free Cash Flow Margin

-45.46

-45.46

-45.46

-45.46

-45.46

-46.89

-46.89

-50.06

-50.06

-50.06

-50.06

-190.93

-139.52

-139.52

-139.52

-139.52

-139.52

-136.69

-136.69

-193.19

-193.19

-54.13

-54.13

-54.13

7.39

7.39

7.39

10.27

10.27

10.27

11.40

11.40

11.40

6.56

6.56

6.56

12.67

12.67

12.67

9.77

9.77

9.77

7.03

7.03

7.03

10.94

10.94

10.94

3.16

3.16

3.16

9.84

9.84

9.84

4.84

4.84

4.84

13.18

13.18

13.18

8.28

8.28

8.28

2.44

2.44

2.44

7.90

7.90

7.90

7.31

7.31

7.31

6.85

6.85

6.85

9.26

9.26

9.26

8.74

8.74

8.74

6.54

6.54

6.54

6.89

6.89

6.89

-1.17

-1.17

-1.17

2.61

2.61

2.61

-9.84

-9.84

-9.84

-9.21

-9.21

-9.21

3.86

3.86

3.86

-12.26

-12.26

-12.26

18.25

18.25

18.25

11.26

11.26

11.26

13.70

13.70

13.70

6.47

6.47

6.47

11.22

11.22

11.22

14.25

14.25

14.25

8.13

8.13

8.13

25.42

25.42

25.42

9.19

9.19

9.19

7.88

7.88

7.88

11.69

11.69

11.69

5.05

5.05

5.05

3.04

3.04

3.04

7.04

7.04

7.04

-0.03

-0.03

-0.03

11.09

11.09

11.09

8.46

8.46

8.46

16.74

16.74

16.74

5.43

5.43

5.43

8.58

8.58

8.58

2.16

2.16

2.16

0.34

0.34

0.34

27.99

27.99

27.99

12.16

12.16

12.16

8.64

8.64

8.64

7.99

7.99

7.99

Margin Analysis

Total Revenue

-
-
-
-
-

HKD$ 323199.98

-
-

HKD$ 326211.89

-
-

HKD$ 295116.59

-
-

HKD$ 297409.84

-
-

HKD$ 491457.78

-
-

HKD$ 494653.67

-
-

HKD$ 304991.87

-
-

HKD$ 294893.62

-
-

HKD$ 305223.46

-
-

HKD$ 375076.41

-
-

HKD$ 375138.88

-
-

HKD$ 470380.18

-
-

HKD$ 460681.55

-
-

HKD$ 471539.18

-
-

HKD$ 465614.88

-
-

HKD$ 451688.45

-
-

HKD$ 446215.47

-
-

HKD$ 425900.49

-
-

HKD$ 417785.27

-
-

HKD$ 412560.03

-
-

HKD$ 403558.32

-
-

HKD$ 397412.12

-
-

HKD$ 389722.37

-
-

HKD$ 380397.51

-
-

HKD$ 376456.23

-
-

HKD$ 372595.74

-
-

HKD$ 360985.18

-
-

HKD$ 343582.80

-
-

HKD$ 335767.02

-
-

HKD$ 321937.54

-
-

HKD$ 313327.91

-
-

HKD$ 286463.88

-
-

HKD$ 287338.52

-
-

HKD$ 276713.55

-
-

HKD$ 276260.07

-
-

HKD$ 265803.13

-
-

HKD$ 262458.59

-
-

HKD$ 254710.67

-
-

HKD$ 243574.06

-
-

HKD$ 232707.80

-
-

HKD$ 223849.35

-
-

HKD$ 217483.42

-
-

HKD$ 218174.94

-
-

HKD$ 206915.53

-
-

HKD$ 199101.91

-
-

HKD$ 192824.30

-
-

HKD$ 183935.69

-
-

HKD$ 179936.24

-
-

HKD$ 177538.51

-
-

HKD$ 172575.02

-
-

HKD$ 169120.62

-
-

HKD$ 167173.13

-
-

HKD$ 170602.77

-
-

HKD$ 167814.04

-
-

HKD$ 159960.56

-
-

HKD$ 152143.71

-
-

HKD$ 141477.80

-
-

HKD$ 134867.36

-
-

HKD$ 125442.33

-
-

HKD$ 112237.59

Profitability