Television Broadcasts Limited (HK:0511)
:0511
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Television Broadcasts Limited
(0511)
Select Model
Select Model
Rating:41Neutral
Price Target:
HK$3.00
▼(-4.15% Downside)
Action:ReiteratedDate:10/23/25
The overall stock score is heavily influenced by poor financial performance and valuation metrics. The company's ongoing losses and negative cash flow generation are significant concerns. Technical indicators also suggest bearish momentum, further impacting the stock's attractiveness.
Positive Factors
Diversified revenue model
TVB's multi-stream revenue model—advertising, subscriptions, syndication and film licensing—creates recurring and platform-diversified cash channels. Content IP and syndication reduce dependence on a single market, supporting more durable revenue capture and monetization over months.
Negative Factors
Negative operating and free cash flow
Persistent negative operating cash flow and free cash flow signal structural cash-generation problems. This constrains investment in content, technology and marketing, increases reliance on external financing, and weakens the company’s ability to execute strategic initiatives over 2–6 months.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified revenue model
TVB's multi-stream revenue model—advertising, subscriptions, syndication and film licensing—creates recurring and platform-diversified cash channels. Content IP and syndication reduce dependence on a single market, supporting more durable revenue capture and monetization over months.
Read all positive factors
Television Broadcasts Limited (0511) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$1.41B
Dividend YieldN/A
Average Volume (3M)1.06M
Price to Earnings (P/E)24.1
Beta (1Y)0.58
Revenue Growth-0.98%
EPS Growth14.30%
CountryHK
Employees3,304
SectorCommunication Services
Sector Strength97
IndustryBroadcasting
Share Statistics
EPS (TTM)0.36
Shares Outstanding466,961,820
10 Day Avg. Volume871,442
30 Day Avg. Volume1,062,445
Financial Highlights & Ratios
PEG Ratio0.07
Price to Book (P/B)0.60
Price to Sales (P/S)0.42
P/FCF Ratio7.28
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$4.10Price Target Upside30.99% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.41
Revenue Forecast (FY)HK$3.35B
Television Broadcasts Limited Business Overview & Revenue Model
Company Description
Television Broadcasts Limited, together with its subsidiaries, engages in terrestrial television broadcasting, program production, and other television-related activities. It operates through Hong Kong TV Broadcasting, Over-The-Top (OTT) Streaming...
How the Company Makes Money
TVB generates revenue through several key streams. The primary source of income comes from advertisement sales on its various television channels, where advertisers pay for commercial slots during popular programs. Additionally, TVB earns revenue ...
Television Broadcasts Limited Financial Statement Overview
Summary
Income Statement
45
Neutral
Balance Sheet
50
Neutral
Cash Flow
40
Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.24B | 3.26B | 3.32B | 3.59B | 2.90B | 2.72B |
| Gross Profit | 1.32B | 1.33B | 1.02B | 1.01B | 721.83M | 847.23M |
| EBITDA | 233.43M | -99.42M | -298.35M | -454.24M | -240.87M | 152.34M |
| Net Income | -455.71M | -491.05M | -762.80M | -807.13M | -646.74M | -280.88M |
Balance Sheet | ||||||
| Total Assets | 5.54B | 5.45B | 6.25B | 7.05B | 7.65B | 9.83B |
| Cash, Cash Equivalents and Short-Term Investments | 879.42M | 711.42M | 787.28M | 1.09B | 1.22B | 3.42B |
| Total Debt | 2.34B | 2.16B | 2.33B | 2.26B | 2.06B | 3.79B |
| Total Liabilities | 3.46B | 3.25B | 3.51B | 3.44B | 3.06B | 4.53B |
| Stockholders Equity | 2.17B | 2.26B | 2.72B | 3.50B | 4.36B | 5.13B |
Cash Flow | ||||||
| Free Cash Flow | 119.33M | 186.85M | -293.56M | -545.93M | -525.88M | -165.37M |
| Operating Cash Flow | 160.68M | 251.78M | -154.50M | -370.61M | -344.50M | 4.26M |
| Investing Cash Flow | 32.16M | -17.54M | -126.74M | 162.98M | 2.07B | -1.22B |
| Financing Cash Flow | 117.28M | -233.26M | 181.52M | -207.06M | -1.87B | 1.33B |
Television Broadcasts Limited Technical Analysis
Positive
3.13
Price Trends
2.94
Positive
3.04
Negative
3.39
Negative
Market Momentum
-0.03
Negative
60.52
Neutral
56.95
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0511, the sentiment is Positive. The current price of 3.13 is above the 20-day moving average (MA) of 2.83, above the 50-day MA of 2.94, and below the 200-day MA of 3.39, indicating a neutral trend. The MACD of -0.03 indicates Negative momentum. The RSI at 60.52 is Neutral, neither overbought nor oversold. The STOCH value of 56.95 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:0511.
Television Broadcasts Limited Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | HK$450.60M | 2.78 | 8.76% | 6.04% | 25.88% | 0.69% | |
63 Neutral | HK$2.42B | 6.20 | 25.55% | 1.12% | 22.22% | 196.73% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
47 Neutral | HK$888.36M | -104.06 | -5.88% | ― | -4.13% | 76.38% | |
46 Neutral | HK$870.24M | -3.44 | -24.48% | ― | ― | ― | |
41 Neutral | HK$1.41B | 24.10 | 2.63% | ― | -0.98% | 14.30% | |
39 Underperform | HK$282.11M | -21.81 | ― | ― | -38.24% | -31.99% |
* Communication Services Sector Average
HK:0511
Television Broadcasts Limited
3.02
0.29
10.62%
HK:1003
Huanxi Media Group Ltd.
0.24
-0.20
-45.91%
HK:1709
DL Holdings Group Limited
1.21
-2.49
-67.30%
HK:1993
Asiaray Media Group Ltd.
0.59
-0.14
-19.18%
HK:0205
SEEC Media Group Limited
0.71
0.59
491.67%
HK:2230
Medialink Group Ltd.
0.23
0.06
36.05%
Television Broadcasts Limited Corporate Events
TVB Reshapes Executive Committee as Eric Tsang Steps Down
Jan 21, 2026
Television Broadcasts Limited has announced a change in the composition of its Executive Committee, with Mr. Eric Tsang Chi Wai stepping down as a member effective 21 January 2026. Following his departure, the Executive Committee will consist of t...
TVB Updates Board and Committee Roles Effective January 2026
Jan 21, 2026
Television Broadcasts Limited has announced an updated list of its board of directors and senior management, together with their respective roles and committee memberships, effective 21 January 2026. Executive Chairman Thomas Hui To continues to l...
TVB Reshapes Content Leadership as Eric Tsang Moves to New Advisory Role
Jan 4, 2026
Television Broadcasts Limited has announced a senior management change, with veteran executive Eric Tsang Chi Wai transitioning from his role as General Manager (Content Operations) to become the convenor of a newly established Advisory Council to...
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.