The Hongkong and Shanghai Hotels, Limited (HKG:0045)

Hong Kong · Delayed Price · Currency is HKD

5.40

-0.06 (-1.10%)

Sep 14, 2026, 1:45 PM HKT

HKG:0045 Financials Overview

Financials in millions HKD. Fiscal year is January - December.

Millions HKD. Fiscal year is Jan - Dec.

Revenue & Profits

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	8,626	7,978	10,290	8,112	4,198	3,461
Revenue Growth	8.12%	-22.47%	26.85%	93.23%	21.29%	27.71%
Gross Profit	3,819	3,598	3,422	2,723	1,510	1,216
Operating Income	1,094	961	760	578	-53	-105
Net Income	632	320	-943	146	-488	-120
Earnings Per Share	0.38	0.19	-0.57	0.09	-0.30	-0.07
EPS Growth	97.50%	-	-	-	-	-

Revenue by Segment

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Peak Tram,Retail and Others	1,030	1,024	970	828	517	500
Hotels	5,846	5,630	4,980	4,174	2,995	2,263
Commercial Properties	1,750	1,324	4,340	3,110	686	698
Total	8,626	7,978	10,290	8,112	4,198	3,461

Cash & Debt

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Investments	966	794	895	883	600	479
Total Debt	15,539	16,126	16,001	18,647	17,984	16,488
Net Cash (Debt)	-14,573	-15,332	-15,106	-17,764	-17,384	-16,009
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share	-8.74	-9.20	-9.11	-10.77	-10.54	-9.71

Cash Flow & CapEx

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Cash Flow	2,316	1,883	4,391	3,407	417	318
Capital Expenditures	-279	-460	-360	-314	-200	-141
Free Cash Flow	2,037	1,423	4,031	3,093	217	177
Free Cash Flow Growth	43.15%	-64.70%	30.33%	1325.35%	22.60%	-

Margins

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Gross Margin	44.27%	45.10%	33.26%	33.57%	35.97%	35.13%
Operating Margin	12.68%	12.05%	7.39%	7.12%	-1.26%	-3.03%
Pretax Margin	9.65%	6.24%	-8.06%	3.54%	-11.15%	-8.15%
Profit Margin	7.33%	4.01%	-9.16%	1.80%	-11.63%	-3.47%
FCF Margin	23.61%	17.84%	39.17%	38.13%	5.17%	5.11%

Dividends

Fiscal Year	FY 2023
Period Ending	Dec '23 Dec 31, 2023
Dividend Per Share	0.080
Dividend Per Share Growth	-
Dividend Yield	1.39%

Valuation

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 14, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
PE Ratio	14.40	30.79	-	65.98	-	-
Forward PE	28.74	89.82	89.82	89.82	89.82	89.82
P/FCF Ratio	4.47	6.92	2.57	3.11	61.72	63.83
PS Ratio	1.06	1.24	1.01	1.19	3.19	3.27