Kerry Properties Limited (HK:0683)
:0683
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Kerry Properties
(0683)
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Rating:59Neutral
Price Target:
HK$25.00
▲(11.51% Upside)
Action:Reiterated
Date:05/02/26
The score is driven primarily by middling fundamentals: sharp margin/ROE compression and uneven multi-year free cash flow, offset by moderate leverage and a strong 2025 cash-flow rebound. Technicals are modestly supportive with price above key moving averages and a positive MACD. Valuation is a headwind due to the high P/E, partly balanced by an attractive dividend yield.
Positive Factors
Moderate leverage and balance-sheet resilience
Moderate leverage for a developer (debt-to-equity around ~0.53) and a sizable equity base provide balance-sheet resilience. This reduces refinancing and liquidity risk across cycles and supports funding for ongoing projects, opportunistic investments, and tenant retention over the medium term.
Negative Factors
Volatile multi-year cash generation
Marked free-cash-flow variability tied to project handovers and working-capital swings makes cash forecasting and consistent capital allocation difficult. For a capital-intensive developer, this raises execution and liquidity risk and complicates sustaining dividends or steady reinvestment across cycles.
Read all positive and negative factors
Positive Factors
Negative Factors
Moderate leverage and balance-sheet resilience
Moderate leverage for a developer (debt-to-equity around ~0.53) and a sizable equity base provide balance-sheet resilience. This reduces refinancing and liquidity risk across cycles and supports funding for ongoing projects, opportunistic investments, and tenant retention over the medium term.
Read all positive factors
Kerry Properties (0683) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$34.48B
Dividend Yield6.48%
Average Volume (3M)1.60M
Price to Earnings (P/E)22.5
Beta (1Y)0.79
Revenue Growth2.27%
EPS Growth16.09%
CountryHK
Employees7,500
SectorReal Estate
Sector Strength53
IndustryReal Estate - Development
Share Statistics
EPS (TTM)0.65
Shares Outstanding1,451,305,800
10 Day Avg. Volume1,046,717
30 Day Avg. Volume1,596,205
Financial Highlights & Ratios
PEG Ratio1.95
Price to Book (P/B)0.28
Price to Sales (P/S)1.45
P/FCF Ratio2.11
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$27.05Price Target Upside20.65% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)1.4
Revenue Forecast (FY)HK$13.54B
Kerry Properties Business Overview & Revenue Model
Company Description
Kerry Properties Limited, an investment holding company, engages in the development, investment, management, and trading of properties in Hong Kong, Mainland China, and the Asia Pacific region. The company also owns and operates hotels; and offers...
How the Company Makes Money
Kerry Properties makes money mainly through (1) property development sales, (2) recurring rental and related income from investment properties, and (3) hospitality income from hotel operations.
1) Property development (sales of completed properti...
Kerry Properties Financial Statement Overview
Summary
Income Statement
54
Neutral
Balance Sheet
63
Positive
Cash Flow
58
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 20.29B | 19.50B | 13.09B | 14.59B | 15.33B |
| Gross Profit | 5.93B | 6.39B | 6.72B | 6.98B | 8.74B |
| EBITDA | 4.10B | 4.64B | 8.13B | 5.95B | 7.39B |
| Net Income | 938.00M | 808.00M | 3.24B | 2.75B | 10.36B |
Balance Sheet | |||||
| Total Assets | 209.31B | 201.35B | 208.43B | 201.47B | 200.06B |
| Cash, Cash Equivalents and Short-Term Investments | 16.10B | 10.98B | 13.54B | 11.70B | 18.30B |
| Total Debt | 55.82B | 59.62B | 55.22B | 55.84B | 37.85B |
| Total Liabilities | 90.12B | 84.70B | 87.28B | 78.99B | 67.74B |
| Stockholders Equity | 105.27B | 103.31B | 107.26B | 108.79B | 116.83B |
Cash Flow | |||||
| Free Cash Flow | 13.91B | -3.94B | -5.34M | -23.36B | 11.23B |
| Operating Cash Flow | 15.35B | 1.17B | 4.98B | 1.33B | 11.93B |
| Investing Cash Flow | -6.05B | -5.40B | -2.45B | -17.14B | 8.30B |
| Financing Cash Flow | -7.26B | 2.09B | -47.18M | 13.55B | -13.58B |
Kerry Properties Technical Analysis
Neutral
22.42
Price Trends
23.18
Positive
22.89
Positive
21.74
Positive
Market Momentum
0.39
Positive
49.57
Neutral
30.93
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0683, the sentiment is Neutral. The current price of 22.42 is below the 20-day moving average (MA) of 23.87, below the 50-day MA of 23.18, and above the 200-day MA of 21.74, indicating a neutral trend. The MACD of 0.39 indicates Positive momentum. The RSI at 49.57 is Neutral, neither overbought nor oversold. The STOCH value of 30.93 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:0683.
Kerry Properties Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | HK$413.22B | 6.70 | 3.55% | 3.89% | 4.66% | 26.27% | |
74 Outperform | HK$179.36B | 7.34 | 2.75% | 4.33% | 27.01% | -20.16% | |
73 Outperform | HK$268.69B | 3.64 | 8.80% | 5.18% | 1.05% | -0.55% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
59 Neutral | HK$34.48B | 22.49 | 0.90% | 6.48% | 2.27% | 16.09% | |
58 Neutral | HK$180.70B | 10.85 | 3.54% | 4.54% | -9.39% | -19.08% | |
58 Neutral | HK$88.50B | -34.25 | 0.03% | 1.76% | -9.23% | ― |
* Real Estate Sector Average
HK:0683
Kerry Properties
23.18
5.01
27.59%
HK:0688
China Overseas Land & Investment
15.92
3.18
24.94%
HK:1113
CK Asset Holdings
50.30
19.23
61.89%
HK:1109
China Resources Land
35.92
12.26
51.84%
HK:0016
Sun Hung Kai Properties
136.70
58.67
75.19%
HK:0004
Wharf (Holdings)
27.30
7.27
36.27%
Kerry Properties Corporate Events
Kerry Properties Sets 2026 AGM to Approve Results, Dividend and Share Issuance Mandate
Apr 27, 2026
Kerry Properties has convened its annual general meeting for 22 May 2026 in Hong Kong, where shareholders will review and adopt the audited financial statements and directors’ and auditor’s reports for the year ended 31 December 2025, ...
Kerry Properties Relocates Hong Kong HQ Under New Connected Tenancy at Kerry Centre
Apr 1, 2026
Kerry Properties will relocate its Hong Kong corporate headquarters within Kerry Centre, after its subsidiary KPLHK signed a new tenancy with Ubagan for two office premises with staggered start dates running to March 2029. Upon completion of the m...
Kerry Properties Extends RMB550 Million Connected Loan to Qianhai Joint Venture
Mar 31, 2026
Kerry Properties has arranged a connected financing transaction to support its interests in the Qianhai Project Site in Shenzhen, where it participates through a joint venture structure. Under existing arrangements, the Kerry side is responsible f...
Kerry Properties Declares HKD 0.95 Final Dividend for FY2025
Mar 23, 2026
Kerry Properties Limited has declared a final ordinary dividend of HKD 0.95 per share for the financial year ended 31 December 2025, subject to shareholder approval at the annual general meeting on 22 May 2026. The dividend will be paid in Hong Ko...
Kerry Properties Lifts 2025 Profit as Hong Kong Sales Offset Softer Rentals
Mar 23, 2026
Kerry Properties reported a 16% rise in profit attributable to shareholders to HK$938 million for 2025, even as underlying profit, which strips out fair value changes in investment properties, fell 22% to HK$2,008 million due to softer office rent...
Kerry Properties Sets March Board Meeting to Approve 2025 Results and Consider Final Dividend
Mar 6, 2026
Kerry Properties Limited has scheduled a board meeting for 23 March 2026 to review and approve the audited final results for the financial year ended 31 December 2025, covering the performance of the company and its subsidiaries. At the same meeti...
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.