PCCW Limited (HK:0008)
:0008
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PCCW Limited
(0008)
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Rating:46Neutral
Price Target:
HK$6.00
▲(8.30% Upside)
Action:ReiteratedDate:04/08/26
The score is primarily held back by weak financial performance driven by very high leverage and negative equity alongside recent net losses. Technicals are neutral with no strong momentum signal, while valuation is pressured by loss-making earnings and only a modest dividend yield.
Positive Factors
Diversified business model
PCCW’s operations span consumer fixed-line and mobile, broadband, enterprise ICT, and media/pay‑TV (via HKT). This diversified, recurring-revenue mix supports stable cash flows, cross-sell opportunities and resilience to single-segment shocks over a multi-month to multi-year horizon.
Negative Factors
Very high leverage / negative equity
Very high leverage and negative shareholders’ equity in 2025 materially weaken financial flexibility. Negative equity raises covenant and refinancing risks, constrains access to external capital, and limits the company's ability to absorb shocks or pursue organic or acquisitive growth over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified business model
PCCW’s operations span consumer fixed-line and mobile, broadband, enterprise ICT, and media/pay‑TV (via HKT). This diversified, recurring-revenue mix supports stable cash flows, cross-sell opportunities and resilience to single-segment shocks over a multi-month to multi-year horizon.
Read all positive factors
PCCW Limited (0008) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$45.60B
Dividend Yield1.68%
Average Volume (3M)8.00M
Price to Earnings (P/E)―
Beta (1Y)0.18
Revenue Growth4.26%
EPS Growth36.68%
CountryHK
Employees14,600
SectorCommunication Services
Sector Strength97
IndustryTelecommunications Services
Share Statistics
EPS (TTM)0.03
Shares Outstanding7,747,762,700
10 Day Avg. Volume9,933,556
30 Day Avg. Volume8,002,360
Financial Highlights & Ratios
PEG Ratio98.40
Price to Book (P/B)-21.25
Price to Sales (P/S)1.04
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$5.10Price Target Upside-7.94% Downside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)0.21
Revenue Forecast (FY)HK$40.11B
PCCW Limited Business Overview & Revenue Model
Company Description
PCCW Limited provides telecommunications and related services in Hong Kong, Mainland and other parts of China, Singapore, and internationally. The company's services include local telephony, local data and broadband, mobile, international telecomm...
How the Company Makes Money
PCCW makes money primarily through telecommunications and related services delivered largely via its principal subsidiary, HKT. Key revenue streams include: (1) Consumer telecommunications: recurring subscription and usage fees from fixed-line tel...
PCCW Limited Financial Statement Overview
Summary
Income Statement
47
Neutral
Balance Sheet
22
Negative
Cash Flow
66
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 40.25B | 37.56B | 36.35B | 36.06B | 35.45B |
| Gross Profit | 11.01B | 18.43B | 18.23B | 18.15B | 17.73B |
| EBITDA | 13.17B | 11.22B | 13.21B | 12.38B | 11.86B |
| Net Income | -27.00M | -66.00M | -471.00M | 393.00M | 1.26B |
Balance Sheet | |||||
| Total Assets | 105.41B | 98.76B | 94.56B | 95.06B | 94.22B |
| Cash, Cash Equivalents and Short-Term Investments | 4.06B | 2.58B | 2.71B | 3.13B | 5.04B |
| Total Debt | 68.77B | 53.94B | 54.19B | 51.65B | 49.22B |
| Total Liabilities | 103.86B | 87.24B | 84.86B | 82.30B | 78.74B |
| Stockholders Equity | -1.97B | 7.49B | 2.48B | 11.44B | 14.36B |
Cash Flow | |||||
| Free Cash Flow | 7.75B | 3.08B | 5.32B | 3.43B | 1.78B |
| Operating Cash Flow | 9.81B | 10.63B | 13.35B | 10.34B | 9.70B |
| Investing Cash Flow | -8.15B | -7.70B | -7.46B | -6.01B | -7.62B |
| Financing Cash Flow | -1.37B | -3.26B | -6.27B | -5.83B | -1.57B |
PCCW Limited Technical Analysis
Positive
5.54
Price Trends
5.89
Neutral
5.85
Positive
5.61
Positive
Market Momentum
-0.02
Positive
50.36
Neutral
67.04
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0008, the sentiment is Positive. The current price of 5.54 is below the 20-day moving average (MA) of 5.90, below the 50-day MA of 5.89, and below the 200-day MA of 5.61, indicating a neutral trend. The MACD of -0.02 indicates Positive momentum. The RSI at 50.36 is Neutral, neither overbought nor oversold. The STOCH value of 67.04 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:0008.
PCCW Limited Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | HK$5.55B | 4.65 | 9.36% | 6.79% | 0.52% | 2.07% | |
68 Neutral | HK$577.64B | 13.70 | 7.19% | 5.40% | 0.53% | 5.28% | |
67 Neutral | HK$93.19B | 16.50 | 14.46% | 2.86% | 2.33% | 2.41% | |
65 Neutral | HK$10.14B | 9.94 | 8.45% | 7.46% | -0.62% | -5.10% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
50 Neutral | HK$11.59B | 18.62 | 8.82% | 5.45% | 4.48% | 1820.51% | |
46 Neutral | HK$45.60B | -1,547.01 | -2.39% | 1.68% | 4.26% | 36.68% |
* Communication Services Sector Average
HK:0008
PCCW Limited
5.89
1.36
30.02%
HK:1883
CITIC Telecom International Holdings
2.74
0.73
36.05%
HK:0728
China Telecom
4.88
-0.51
-9.53%
HK:1310
HKBN
7.84
3.05
63.78%
HK:6823
HKT and HKT
12.29
2.57
26.41%
HK:0315
SmarTone Telecommunications Holdings
5.04
1.24
32.70%
PCCW Limited Corporate Events
PCCW Moves to Update Articles for New Treasury Share and Paperless Rules
Apr 1, 2026
PCCW Limited plans to amend its articles of association to align with recent changes to Hong Kong’s Companies Ordinance, including the introduction of a treasury share regime for locally incorporated listed firms and measures to promote pape...
PCCW Sets 2026 AGM, Proposes 2025 Dividend and Share Issuance Mandate
Apr 1, 2026
PCCW Limited has called its 2026 annual general meeting as a hybrid event to be held on May 21, 2026, in Hong Kong, where shareholders will review the audited financial statements and directors’ and auditor’s reports for the year ended...
PCCW’s HKT Sells Further Stake in Passive Network Unit at Premium Valuation
Mar 31, 2026
PCCW’s telecom arm HKT has agreed to sell a further interest in an indirect subsidiary engaged in passive network infrastructure to a purchaser for US$209.45 million in cash, while retaining control of the business. The valuation implies ent...
PCCW Lifts 2025 Profit as Viu and ViuTV Drive Media Growth
Feb 10, 2026
PCCW reported a 7% rise in revenue to HK$40.25 billion for 2025, driven by growth across its telecom, streaming and free TV operations, with consolidated profit climbing 35% to HK$2.62 billion and the loss attributable to equity holders narrowing ...
PCCW Proposes HKD 0.2848 Final Dividend for 2025 Financial Year
Feb 10, 2026
PCCW Limited has proposed a final ordinary cash dividend of HKD 0.2848 per share for the financial year ended 31 December 2025, reflecting the board’s decision to return cash to shareholders based on the group’s performance. The divide...
PCCW refreshes board with China Unicom executive as non‑executive director
Feb 10, 2026
PCCW Limited has reshaped its board composition, appointing China Unicom Global Chairman and CEO Feng Lanxiao as a non‑executive director and member of its remuneration committee, effective 10 February 2026. Feng, a seasoned telecom executiv...
PCCW Sets Out Board Composition and Committee Roles in Governance Update
Feb 10, 2026
PCCW Limited has outlined the composition of its board of directors, which includes executive, non-executive, and independent non-executive members, led by Chairman Richard Li and Acting Group Managing Director and Group Chief Financial Officer Su...
PCCW Highlights Majority Stake as HKT Trust and HKT Report 2025 Results
Feb 9, 2026
PCCW Limited has announced that it has taken note of the audited consolidated annual results of HKT Trust and HKT Limited, along with HKT’s subsidiaries, for the financial year ended 31 December 2025, as released by HKT Management Limited. P...
PCCW and HKT Receive Offer to Boost China Merchants Capital Stake in Passive Network Unit
Feb 9, 2026
PCCW Limited and its affiliate HKT Limited, through HKT Trust, oversee a passive network business that supplies copper and fibre access connectivity and manages the underlying infrastructure in Hong Kong and the Greater Bay Area. This business, he...
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.