Hongkong & Shanghai Hotels Ltd. (HK:0045)
:0045
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Hongkong & Shanghai Hotels
(0045)
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Rating:58Neutral
Price Target:
HK$7.00
▲(14.94% Upside)
Action:ReiteratedDate:03/20/26
The score is driven primarily by improving profitability and a manageable balance sheet, offset by inconsistent multi-year results and weaker 2025 cash generation. Technical signals are broadly neutral-to-mildly positive, while valuation looks demanding with a ~30.8 P/E and no provided dividend yield.
Positive Factors
Cash Flow Strength
Strong free cash flow growth enhances financial flexibility and supports future investments, indicating a solid cash generation ability.
Negative Factors
Profitability Challenges
Ongoing net losses and negative return on equity highlight profitability issues, which could hinder long-term growth and shareholder returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash Flow Strength
Strong free cash flow growth enhances financial flexibility and supports future investments, indicating a solid cash generation ability.
Read all positive factors
Hongkong & Shanghai Hotels (0045) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$9.82B
Dividend YieldN/A
Average Volume (3M)100.25K
Price to Earnings (P/E)30.8
Beta (1Y)0.27
Revenue Growth-12.90%
EPS Growth-95.96%
CountryHK
Employees7,836
SectorConsumer Cyclical
Sector Strength84
IndustryTravel Lodging
Share Statistics
EPS (TTM)0.36
Shares Outstanding1,666,939,800
10 Day Avg. Volume63,167
30 Day Avg. Volume100,255
Financial Highlights & Ratios
PEG Ratio-0.23
Price to Book (P/B)0.27
Price to Sales (P/S)1.23
P/FCF Ratio19.32
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)N/A
Revenue Forecast (FY)N/A
Hongkong & Shanghai Hotels Business Overview & Revenue Model
Company Description
Hongkong & Shanghai Hotels, Limited (HSH) is a leading hospitality and property investment company based in Hong Kong. Established in 1866, it operates luxury hotels, restaurants, and related services across Asia, Europe, and the United States, pr...
How the Company Makes Money
HSH makes money primarily through a combination of (1) luxury hotel operations and (2) recurring income from investment properties, supplemented by other hospitality-related activities.
1) Hotel revenue (The Peninsula Hotels and related hospitali...
Hongkong & Shanghai Hotels Earnings Call Summary
Earnings Call Date:Aug 07, 2024
(Q2-2024)
| % Change Since: |
Next Earnings Date:Jul 30, 2026
Earnings Call Sentiment Neutral
The earnings call presented a mix of strong revenue growth driven by new properties and residential sales, alongside significant losses influenced by high depreciation, interest costs, and weak tourism in Hong Kong. Positive momentum in new hotels and sustainability initiatives provide optimism, but challenges in key markets remain.Positive Updates
Record Revenue Growth
Consolidated revenue increased by 89% to $4.6 billion, driven by residential sales and new hotel openings.
Negative Updates
Significant Loss
The group reported a loss of $448 million for the period compared to a profit of $95 million last year.
Read all updates
Q2-2024 Updates
Positive
Negative
Record Revenue Growth
Consolidated revenue increased by 89% to $4.6 billion, driven by residential sales and new hotel openings.
Read all positive updates
Company Guidance
During the Q2 2024 earnings call for The Hongkong and Shanghai Hotels, key guidance focused on several financial metrics and operational updates. Consolidated revenue increased by 89% to $4.6 billion, largely driven by $1.7 billion from the sale of Peninsula-branded London Residences and additional revenue from new hotels in London and Istanbul. Despite this, EBITDA before nonrecurring expenses decreased from $498 million to $395 million due to ongoing renovations at The Peninsula New York and the stabilization period required for the new hotels. Increased depreciation and net financing charges, primarily related to The Peninsula London, contributed to a net loss of $448 million for the period. The company expects interest costs to decline with future proceeds from remaining residential sales in London. The second half of the year is anticipated to be stronger, bolstered by events like The Quail Motorsports Gathering and mooncake sales, though challenges persist in Hong Kong's tourism sector. The management emphasized the long-term strategic focus on stabilizing new properties and leveraging existing assets.Hongkong & Shanghai Hotels Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
71
Positive
Cash Flow
52
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 7.98B | 10.29B | 8.11B | 4.20B | 3.46B |
| Gross Profit | 3.42B | 3.42B | 2.72B | 1.43B | 1.09B |
| EBITDA | 1.68B | 1.40B | 1.23B | 279.00M | 368.00M |
| Net Income | 320.00M | -943.00M | 146.00M | -488.00M | -120.00M |
Balance Sheet | |||||
| Total Assets | 55.05B | 54.18B | 57.87B | 56.58B | 55.69B |
| Cash, Cash Equivalents and Short-Term Investments | 762.00M | 895.00M | 881.00M | 585.00M | 479.00M |
| Total Debt | 16.13B | 16.00B | 18.65B | 17.98B | 16.48B |
| Total Liabilities | 18.89B | 18.73B | 21.49B | 20.46B | 18.82B |
| Stockholders Equity | 36.11B | 35.40B | 36.28B | 36.02B | 36.76B |
Cash Flow | |||||
| Free Cash Flow | 510.00M | 4.06B | 1.16B | -2.41B | -2.32B |
| Operating Cash Flow | 1.32B | 4.39B | 3.41B | 134.00M | 163.00M |
| Investing Cash Flow | -882.00M | -1.28B | -2.60B | -2.74B | -2.60B |
| Financing Cash Flow | -682.00M | -3.10B | -654.00M | 2.45B | 2.24B |
Hongkong & Shanghai Hotels Technical Analysis
Negative
6.09
Price Trends
6.49
Negative
6.26
Negative
6.04
Negative
Market Momentum
-0.18
Positive
34.02
Neutral
8.94
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0045, the sentiment is Negative. The current price of 6.09 is below the 20-day moving average (MA) of 6.38, below the 50-day MA of 6.49, and above the 200-day MA of 6.04, indicating a bearish trend. The MACD of -0.18 indicates Positive momentum. The RSI at 34.02 is Neutral, neither overbought nor oversold. The STOCH value of 8.94 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:0045.
Hongkong & Shanghai Hotels Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | HK$1.99B | 31.69 | 0.50% | 3.37% | -22.04% | -90.42% | |
66 Neutral | HK$2.01B | 8.75 | 2.64% | 1.95% | -7.90% | 58.19% | |
62 Neutral | HK$782.46M | 2.80 | 5.42% | 4.67% | -3.51% | -31.41% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
58 Neutral | HK$9.82B | 30.79 | -2.21% | ― | -12.90% | -95.96% | |
55 Neutral | HK$15.90B | 19.30 | 2.12% | 3.05% | -0.04% | -15.56% | |
40 Neutral | HK$467.37M | -0.21 | -29.62% | ― | -0.60% | 34.74% |
* Consumer Cyclical Sector Average
HK:0045
Hongkong & Shanghai Hotels
5.89
0.69
13.27%
HK:0184
Keck Seng Investments (Hong Kong)
2.30
0.31
15.35%
HK:1270
Langham Hospitality Investments
0.56
0.13
29.03%
HK:0069
Shangri-La Asia
4.45
0.57
14.57%
HK:1221
Sino Hotels (Holdings) Ltd.
1.69
0.33
24.72%
HK:0078
Regal Hotels International Holdings Limited
0.52
-0.42
-44.68%
Hongkong & Shanghai Hotels Corporate Events
Hongkong and Shanghai Hotels Posts Strong 2025 Peninsula Metrics Amid Mixed Office Demand
Mar 18, 2026
The Hongkong and Shanghai Hotels reported unaudited operating statistics for 2025 showing broadly stronger hotel metrics across its Peninsula portfolio, with RevPAR and average room rates rising in most regions compared with 2024. Europe and the U...
Hongkong and Shanghai Hotels Unveils Governance Shake-Up Ahead of 2026 AGM
Mar 18, 2026
The Hongkong and Shanghai Hotels, Limited plans a governance overhaul under which three senior executives will step down from the board as Executive Directors after the May 2026 annual general meeting, while continuing in their management roles as...
Hongkong and Shanghai Hotels Returns to Profit as Core Operations Strengthen in 2025
Mar 18, 2026
The Hongkong and Shanghai Hotels reported 2025 revenue of HK$7.98 billion, down 22% due to fewer sales of The Peninsula London Residences, but revenue from underlying operations rose 11% to HK$7.58 billion and operating EBITDA surged 43%. Strong t...
Hongkong and Shanghai Hotels Sets March Board Meeting to Approve 2025 Results and Consider Final Dividend
Feb 27, 2026
The Hongkong and Shanghai Hotels board has scheduled a meeting for 18 March 2026 to approve the group’s audited annual results for the year ended 31 December 2025 and to consider a recommendation on the payment of a final dividend. The outco...
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.