Wharf (Holdings) Ltd. (HK:0004)
:0004
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Wharf (Holdings)
(0004)
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Rating:52Neutral
Price Target:
HK$19.00
▼(-12.84% Downside)
Action:Reiterated
Date:06/06/26
The score is primarily supported by balance-sheet strength and positive cash generation, but is held back by unstable earnings and weak technical trend signals. Reported valuation metrics are a significant negative due to the extremely high P/E and modest dividend yield.
Positive Factors
Strong balance sheet
Conservative leverage and a sizable equity base provide durable financial capacity. Low debt reduces refinancing and interest-rate risk, supports funding of development cycles or opportunistic acquisitions, and preserves resilience through property-market downturns, aiding long-term stability.
Negative Factors
Volatile revenue trends
Material swings and a recent revenue decline weaken top-line visibility and complicate planning for development pipelines. Persistent revenue volatility can strain cash flow forecasting, lengthen project payback, and reduce the predictability of earnings across medium-term cycles.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong balance sheet
Conservative leverage and a sizable equity base provide durable financial capacity. Low debt reduces refinancing and interest-rate risk, supports funding of development cycles or opportunistic acquisitions, and preserves resilience through property-market downturns, aiding long-term stability.
Read all positive factors
Wharf (Holdings) (0004) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$57.21B
Dividend Yield1.76%
Average Volume (3M)874.29K
Price to Earnings (P/E)1144.2
Beta (1Y)0.69
Revenue Growth-9.23%
EPS GrowthN/A
CountryHK
Employees6,400
SectorReal Estate
Sector Strength53
IndustryReal Estate - Development
Share Statistics
EPS (TTM)0.02
Shares Outstanding3,056,027,300
10 Day Avg. Volume747,424
30 Day Avg. Volume874,290
Financial Highlights & Ratios
PEG Ratio-13.08
Price to Book (P/B)0.45
Price to Sales (P/S)6.04
P/FCF Ratio17.09
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)1.49
Revenue Forecast (FY)HK$12.88B
Wharf (Holdings) Business Overview & Revenue Model
Company Description
Established in Hong Kong in 1886, The Wharf (Holdings) Limited (Stock code: 0004) stands as the 17th company ever incorporated in the territory and a distinguished, long-standing enterprise. For over five decades, it has been a foundational compon...
How the Company Makes Money
The company primarily makes money through (1) recurring rental and related income from investment properties (e.g., leasing retail and office space and earning rents and associated property income), which tends to be its core, cash-generative reve...
Wharf (Holdings) Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
74
Positive
Cash Flow
67
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 11.00B | 12.12B | 18.95B | 18.06B | 22.38B |
| Gross Profit | 5.78B | 7.77B | 9.05B | 8.84B | 11.31B |
| EBITDA | 1.02B | -5.29B | 3.75B | 1.30B | 10.31B |
| Net Income | 50.00M | -3.22B | 945.00M | -1.71B | 6.02B |
Balance Sheet | |||||
| Total Assets | 198.51B | 190.04B | 204.88B | 221.75B | 253.70B |
| Cash, Cash Equivalents and Short-Term Investments | 19.87B | 9.72B | 11.59B | 14.65B | 23.56B |
| Total Debt | 17.91B | 16.85B | 19.43B | 19.96B | 36.74B |
| Total Liabilities | 46.09B | 47.57B | 56.67B | 66.04B | 87.32B |
| Stockholders Equity | 146.71B | 136.83B | 142.99B | 151.59B | 162.02B |
Cash Flow | |||||
| Free Cash Flow | 3.89B | 3.60B | 1.80B | 5.83B | 2.08B |
| Operating Cash Flow | 4.02B | 3.83B | 2.38B | 6.18B | 2.55B |
| Investing Cash Flow | 6.42B | -2.59B | -3.55B | 4.31B | 11.31B |
| Financing Cash Flow | -652.00M | -3.72B | -1.75B | -17.55B | -7.41B |
Wharf (Holdings) Technical Analysis
Negative
21.80
Price Trends
23.46
Negative
23.98
Negative
23.21
Negative
Market Momentum
-1.61
Positive
26.69
Positive
8.82
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0004, the sentiment is Negative. The current price of 21.8 is above the 20-day moving average (MA) of 21.38, below the 50-day MA of 23.46, and below the 200-day MA of 23.21, indicating a bearish trend. The MACD of -1.61 indicates Positive momentum. The RSI at 26.69 is Positive, neither overbought nor oversold. The STOCH value of 8.82 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:0004.
Wharf (Holdings) Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | HK$156.30B | 14.22 | 2.75% | 4.33% | 27.01% | -20.16% | |
67 Neutral | HK$228.76B | 7.84 | 8.50% | 5.18% | 1.05% | -0.55% | |
67 Neutral | HK$104.97B | 27.01 | 2.20% | 5.62% | 30.32% | -1.37% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
62 Neutral | HK$326.58B | 14.84 | 3.55% | 3.89% | 4.66% | 26.27% | |
52 Neutral | HK$57.21B | 1,144.17 | 0.03% | 1.76% | -9.23% | ― | |
51 Neutral | HK$148.41B | 10.23 | 3.44% | 4.54% | -9.39% | -19.08% |
* Real Estate Sector Average
HK:0004
Wharf (Holdings)
18.72
-3.87
-17.12%
HK:0688
China Overseas Land & Investment
13.56
0.66
5.15%
HK:1113
CK Asset Holdings
44.66
12.96
40.87%
HK:1109
China Resources Land
32.08
6.45
25.18%
HK:0083
Sino Land Co
10.95
3.23
41.91%
HK:0016
Sun Hung Kai Properties
112.70
30.76
37.55%
Wharf (Holdings) Corporate Events
Wharf Shareholders Back All AGM Resolutions, Renewing Capital Mandates and Board Line-up
May 14, 2026
Shareholders of The Wharf (Holdings) Limited approved all ordinary resolutions at the annual general meeting held in Hong Kong on 14 May 2026, including the adoption of the 2025 financial statements and the re-election of four retiring directors. ...
Wharf (Holdings) Sets Out Board Line-Up and Key Committee Roles
May 14, 2026
The Wharf (Holdings) Limited has announced the current composition of its board of directors, led by Chairman and Managing Director Stephen T. H. Ng, along with executive, non-executive, and independent non-executive directors who collectively ove...
Wharf (Holdings) Sets AGM to Renew Share Buy-back and Issuance Mandates
Apr 14, 2026
The Wharf (Holdings) Limited has called its annual general meeting for 14 May 2026 in Hong Kong, where shareholders will vote on adopting the 2025 financial statements, re-electing retiring directors and re-appointing the company’s auditors....
Wharf (Holdings) Sets April Deadline Before Forfeiting Unclaimed 2019 Dividend
Mar 27, 2026
The Wharf (Holdings) Limited has announced that any portion of its second interim dividend for 2019, declared at HK$0.075 per share on 10 March 2020, will be forfeited if it remains unclaimed by 27 April 2026 under the company’s Articles of ...
Wharf (Holdings) Sets Second Interim Dividend of HK$0.20 Per Share for 2025
Mar 27, 2026
The Wharf (Holdings) Limited has declared a second interim dividend, in lieu of a final dividend, of HK$0.20 per share for the financial year ended 31 December 2025, payable in Hong Kong dollars. The dividend will be paid on 23 April 2026 to share...
Wharf (Holdings) Switches Share Registrar to Tricor Investor Services
Mar 25, 2026
The Wharf (Holdings) Limited has announced a change to its share registrar and transfer office, appointing Tricor Investor Services Limited as the new provider with effect from 27 March 2026. This shift means all future share transfer registration...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.