Hong Kong Exchanges and Clearing Limited (HKG:0388)

HKG:0388 Financials Overview

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

Revenue & Profits

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue Revenue Growth	31,487	28,856	22,273	20,392	18,273	20,753
Revenue Growth	23.00%	29.56%	9.22%	11.60%	-11.95%	8.93%
Gross Profit Gross Profit Growth	30,421	27,827	21,323	19,515	17,479	19,976
Operating Income Operating Income Growth	23,653	21,321	15,205	13,612	11,855	14,975
Net Income Net Income Growth	19,803	17,754	13,050	11,862	10,078	12,535
Earnings Per Share EPS Growth	15.63	14.01	10.29	9.36	7.95	9.89
EPS Growth	28.32%	36.15%	9.94%	17.74%	-19.62%	8.80%

Revenue by Segment

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash Cash Growth	16,849	14,704	9,422	8,164	9,034	-
Derivatives Derivatives Growth	6,738	6,863	6,204	6,502	5,279	-
Commodities Commodities Growth	3,649	3,171	2,788	2,188	2,051	-
Data & Connectivity Data & Connectivity Growth	2,365	2,270	2,126	2,073	1,998	-
Corporate Items Corporate Items Growth	2,186	2,153	1,834	1,589	94	9

Cash & Debt

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash & Investments Cash & Investments Growth	167,650	24,833	27,662	31,469	33,140	31,820
Total Debt Total Debt Growth	946	1,249	1,746	2,051	2,236	2,485
Net Cash (Debt) Net Cash Growth	166,704	23,584	25,916	29,418	30,904	29,335
Net Cash Growth	32.56%	-9.00%	-11.90%	-4.81%	5.35%	-2.35%
Net Cash Per Share Net Cash Per Share Growth	131.52	18.61	20.44	23.20	24.38	23.14

Cash Flow & CapEx

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Operating Cash Flow Operating Cash Flow Growth	22,708	25,627	12,774	11,500	14,956	12,340
Capital Expenditures CapEx Growth	-4,672	-4,881	-1,604	-1,386	-1,284	-1,070
Free Cash Flow Free Cash Flow Growth	18,036	20,746	11,170	10,114	13,672	11,270
Free Cash Flow Growth	5.07%	85.73%	10.44%	-26.02%	21.31%	-16.01%

Margins

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Gross Margin	96.61%	96.43%	95.73%	95.70%	95.66%	96.26%
Operating Margin	75.12%	73.89%	68.27%	66.75%	64.88%	72.16%
Pretax Margin	74.95%	73.32%	66.69%	65.38%	63.80%	71.51%
Profit Margin	62.89%	61.53%	58.59%	58.17%	55.15%	60.40%
FCF Margin	57.28%	71.89%	50.15%	49.60%	74.82%	54.31%

Dividends

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov 4, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Dividend Per Share Dividend Per Share Growth	14.860	12.520	9.260	8.410	7.140	8.870
Dividend Per Share Growth	27.98%	35.20%	10.11%	17.79%	-19.50%	8.57%
Dividend Yield	3.92%	3.07%	3.14%	3.14%	2.12%	1.95%

Valuation

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov 4, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
PE Ratio	24.25	29.02	28.57	28.59	42.34	45.96
Forward PE	23.78	33.05	28.15	28.64	34.99	38.29
P/FCF Ratio	26.51	24.83	33.37	33.53	31.21	51.12
PS Ratio	15.18	17.85	16.74	16.63	23.35	27.76

Data Sources: S&P Global Market Intelligence and Fiscal.ai Last updated: Aug 31, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company. Revenue segment data is provided by Fiscal.ai.

Update frequency:

Quarterly

Last checked:

Nov 3, 2026

Data Sources Report a data error