SF Real Estate Investment Trust (HKG:2191)

Hong Kong · Delayed Price · Currency is HKD

2.560

+0.010 (0.39%)

Sep 10, 2026, 4:08 PM HKT

HKG:2191 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	433.54	445.45	445.99	444.92	421.47	366.41
Revenue Growth	-2.67%	-0.12%	0.24%	5.56%	15.03%	31.33%
Net Income	127.65	-332.32	-294.53	219.47	439.67	261.41
Earnings Per Share	0.16	-0.41	-0.36	0.27	0.55	0.33
EPS Growth	-	-	-	-50.53%	68.23%	-

Revenue by Geography

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
Chinese Mainland	118.43	118.81	120.14	122.54	103.84	78.98
Hong Kong	315.11	326.64	325.85	322.38	317.63	287.44
Total	433.54	445.45	445.99	444.92	421.47	366.41

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	76.31	118.95	93.5	190.25	274.14	397.45
Total Debt	2,494	2,470	2,505	2,563	2,650	2,141
Net Cash (Debt)	-2,418	-2,351	-2,411	-2,373	-2,376	-1,744
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share	-2.95	-2.87	-2.97	-2.94	-2.97	-2.18

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	227.84	257.87	249.3	245.87	163.77	163.16
Free Cash Flow	227.84	257.87	249.3	245.87	163.77	163.16
Free Cash Flow Growth	-11.65%	3.44%	1.40%	50.13%	0.38%	-23.70%

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
Operating Margin	76.74%	68.61%	80.78%	72.68%	74.30%	68.20%
Pretax Margin	39.57%	-86.56%	-81.96%	61.42%	129.08%	90.43%
Profit Margin	29.44%	-74.60%	-66.04%	49.33%	104.32%	71.34%

Dividends

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 10, 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
Dividend Per Share	0.263	0.263	0.274	0.287	0.277	0.259
Dividend Per Share Growth	-1.67%	-3.91%	-4.40%	3.32%	7.27%	-
Dividend Yield	10.55%	10.36%	10.52%	14.42%	14.16%	12.17%

Valuation

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 10, 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	16.45	-	-	9.79	5.30	10.65
PS Ratio	4.84	5.16	5.73	4.83	5.52	7.60