Sun Hung Kai Properties is the leading property developer in Hong Kong. While others may specialize in certain sectors—for example, CK Asset in mass residential and Swire Properties in office—SHKP is a significant player in all sectors of the city’s property market. Its sheer scale and dominance translate into a formidable competitive advantage in a highly consolidated Hong Kong property market.
The company’s well-located office and retail portfolios in Hong Kong are expected to continue to perform well in years to come, underpinned by steady growth in tenant demand and ongoing supply side constraints.
Hong Kong residential property prices have softened due to the elevated interest-rate environment. If interest rates stay higher for longer, the company’s development profits will be compressed.
|
Metric
|
00016
|
00012
|
01972
|
|---|---|---|---|
Price/Earnings (Normalized) | 8.80 | 12.64 | 11.64 |
Price/Book Value | 0.35 | 0.34 | 0.31 |
Price/Sales | 2.92 | 4.07 | 6.10 |
Price/Cash Flow | 8.36 | — | 13.43 |
|
Metric
|
00016
|
00012
|
01972
|
|---|---|---|---|
Quick Ratio | 0.37 | 0.40 | 0.48 |
Current Ratio | 3.76 | 2.24 | 1.03 |
Interest Coverage | 9.07 | 8.25 | 7.92 |
|
Metric
|
00016
|
00012
|
01972
|
|---|---|---|---|
Return on Assets (Normalized) | 2.89% | 1.81% | 2.11% |
Return on Equity (Normalized) | 3.89% | 2.97% | 2.54% |
Return on Invested Capital (Normalized) | 3.52% | 2.49% | 2.33% |
|
Ticker
|
Name
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
Market Cap
|
|---|---|---|---|---|---|
SUHJF
| Sun Hung Kai Properties Ltd | — | Vvn | $26.6 Bil | |
SUHJY
| Sun Hung Kai Properties Ltd ADR | — | Rwzr | $26.1 Bil | |
CRBJF
| China Resources Land Ltd | — | Skrb | $23.0 Bil | |
CRBJY
| China Resources Land Ltd ADR | — | Bmpdv | $23.0 Bil | |
DWAHF
| Daiwa House Industry Co Ltd | — | Tzkz | $18.0 Bil | |
DWAHY
| Daiwa House Industry Co Ltd ADR | — | Pdhk | $18.0 Bil | |
CAOVY
| China Overseas Land & Investment Ltd ADR | — | Cvwh | $17.0 Bil | |
CAOVF
| China Overseas Land & Investment Ltd | — | Lpfpg | $17.0 Bil | |
CHKGF
| CK Asset Holdings Ltd | — | Hdgjlx | $14.5 Bil | |
CNGKY
| CK Asset Holdings Ltd ADR | — | Rbylnz | $14.2 Bil |
