Kerry Properties Limited (HK:0683)
:0683
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Kerry Properties
(0683)
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Rating:59Neutral
Price Target:
HK$19.00
▼(-15.25% Downside)
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
Sustained moderate debt-to-equity (~0.53) and a large equity base give the company financial flexibility to fund project pipelines, access credit on reasonable terms, and absorb cyclical property slowdowns. This supports longer-term capital allocation and lowers acute refinancing risk.
Negative Factors
Sharp margin compression
A dramatic fall in net margin from ~24.8% to ~4.6% signals structural pressure on pricing, cost inflation, or adverse project mix. Persistently lower margins undermine reinvestment capacity, reduce buffer for cyclical downturns, and weaken the firm’s long-term ability to generate robust shareholder returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Moderate leverage and balance-sheet resilience
Sustained moderate debt-to-equity (~0.53) and a large equity base give the company financial flexibility to fund project pipelines, access credit on reasonable terms, and absorb cyclical property slowdowns. This supports longer-term capital allocation and lowers acute refinancing risk.
Read all positive factors
Kerry Properties (0683) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$26.23B
Dividend Yield6.48%
Average Volume (3M)1.60M
Price to Earnings (P/E)27.8
Beta (1Y)0.73
Revenue Growth2.27%
EPS Growth16.09%
CountryHK
Employees7,490
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 Ratio1.94
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 TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)1.39
Revenue Forecast (FY)HK$13.72B
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 owns and operates hotels; and provides in...
How the Company Makes Money
Kerry Properties primarily makes money through multiple real estate and hospitality income streams. (1) Property development sales: The company develops residential and commercial projects and recognizes revenue from the sale 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
Negative
22.42
Price Trends
21.35
Negative
22.00
Negative
20.91
Negative
Market Momentum
-0.93
Positive
23.97
Positive
21.27
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0683, the sentiment is Negative. The current price of 22.42 is above the 20-day moving average (MA) of 19.57, above the 50-day MA of 21.35, and above the 200-day MA of 20.91, indicating a bearish trend. The MACD of -0.93 indicates Positive momentum. The RSI at 23.97 is Positive, neither overbought nor oversold. The STOCH value of 21.27 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
74 Outperform | HK$154.27B | 14.22 | 2.75% | 4.33% | 27.01% | -20.16% | |
67 Neutral | HK$215.07B | 7.41 | 8.50% | 5.18% | 1.05% | -0.55% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
62 Neutral | HK$330.93B | 15.03 | 3.55% | 3.89% | 4.66% | 26.27% | |
59 Neutral | HK$26.23B | 27.80 | 0.90% | 6.48% | 2.27% | 16.09% | |
52 Neutral | HK$55.41B | 906.50 | 0.03% | 1.76% | -9.23% | ― | |
51 Neutral | HK$133.20B | 9.18 | 3.23% | 4.54% | -9.39% | -19.08% |
* Real Estate Sector Average
HK:0683
Kerry Properties
18.07
-0.95
-5.02%
HK:0688
China Overseas Land & Investment
12.17
-0.96
-7.28%
HK:1113
CK Asset Holdings
44.08
10.79
32.41%
HK:1109
China Resources Land
30.16
4.53
17.68%
HK:0016
Sun Hung Kai Properties
114.20
27.34
31.48%
HK:0004
Wharf (Holdings)
18.13
-5.34
-22.76%
Kerry Properties Corporate Events
Kerry Properties Wins Strong Shareholder Backing at 2026 AGM
May 22, 2026
Kerry Properties reported that all resolutions at its 22 May 2026 annual general meeting were approved by shareholders through poll voting, with all directors attending in person. Investors endorsed the 2025 audited financial statements, a final d...
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...
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.