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Kerry Logistics Network Ltd 00636

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Stock XHKG Rating as of
HKD 8.98 +0.06 (0.67%)
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As of Delayed Price Closed
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Company Report

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Kerry Logistics Will See Higher Minority Interest and Share of Results From Associates and JVs

Chelsey Tam

Kerry Logistics Network’s, or KLN’s, international freight forwarding, or IFF, services accounted for 90% of consolidated segment profit in 2022 and is seeing stabilizing business conditions, in our view. Freight rates plunged in 2022 as international cargo capacity recovered from pandemic disruptions and global goods consumption weakened. We expect economic growth to pick up in the second half 2024 and IFF should return to a cyclical upcycle.

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Price vs Fair Value

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00636 is trading at a 279% premium.
Price
HKD 8.98
Fair Value
HKD 26.70
Uncertainty
High
1-Star Price
HKD 44.69
5-Star Price
HKD 2.27
Economic Moat
Zpf
Capital Allocation
Wpqtjkpb

Bulls Say, Bears Say

Bulls

More or faster-than-expected cooperation between KLN and SF is implemented, boosting revenue and reducing costs for KLN.

Bears

Sales and/or operational integration with SF is limited or delayed, hurting revenue and profit growth at KLN.

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Trading Information

Previous Close Price
HKD 8.92
Day Range
HKD 8.96–9.23
52-Week Range
HKD 6.30–10.76
Bid/Ask
HKD 8.97 / HKD 9.02
Market Cap
HKD 16.23 Bil
Volume/Avg
1.4 Mil / 615,837

Key Statistics

Price/Earnings (Normalized)
13.59
Price/Sales
0.34
Dividend Yield (Trailing)
5.23%
Dividend Yield (Forward)
5.23%
Total Yield
5.27%

Company Profile

Kerry Logistics Network, or KLN, is a leading Asian diversified logistics service provider with a global presence. KLN is the number one non-vessel operating common carrier, or NVOCC, by volume for transpacific trades in 2022. Its business consists of international freight forwarding (air freight, ocean freight, and cross-border road freight forwarding services), integrated logistics mainly across Asia, and e-commerce and express delivery services. KLN has been majority owned by and consolidated under the international segment of China’s leading logistics company S.F. Holding, or SF, since September 2021.
Sector
Industrials
Industry
Integrated Freight & Logistics
Stock Style Box
Mid Value
Total Number of Employees
33,100
Website
https://www.kln.com

Competitors

Valuation

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Metric
00636
EXPD
DHL
Price/Earnings (Normalized)
 13.5922.2913.45
Price/Book Value
 0.947.582.10
Price/Sales
 0.341.950.59
Price/Cash Flow
 6.1521.396.00
Price/Earnings
00636
EXPD
DHL

Financial Strength

Metric
00636
EXPD
DHL
Quick Ratio
 1.511.790.74
Current Ratio
 1.552.020.95
Interest Coverage
 4.55197.797.22
Quick Ratio
00636
EXPD
DHL

Profitability

Metric
00636
EXPD
DHL
Return on Assets (Normalized)
 1.80%16.17%5.51%
Return on Equity (Normalized)
 4.40%29.03%16.07%
Return on Invested Capital (Normalized)
 3.61%22.87%9.19%
Return on Assets
00636
EXPD
DHL
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