CK Infrastructure Holdings Limited (HK:1038)
:1038
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CK Infrastructure Holdings
(1038)
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Rating:63Neutral
Price Target:
HK$69.00
â–²(5.50% Upside)
Action:DowngradedDate:04/18/26
The score is held back primarily by weak financial performance quality—declining revenues and volatile operating profitability—despite a supportive balance sheet and positive free cash flow. Technicals are mildly constructive (positive MACD, neutral RSI), and valuation is slightly favorable with a ~4% dividend yield and a mid-range P/E.
Positive Factors
Diversified regulated asset base
CKI's holdings across regulated utilities, energy and transport assets in multiple geographies create structurally stable revenue streams. Regulated frameworks and long-term contracts support predictable cash flows and lower demand cyclicality, underpinning durability of earnings and dividend capacity.
Negative Factors
Multi-year revenue decline
Sustained top-line contraction erodes the base for operating margins and distributable cash. Over 2–6 months this trend signals potential structural demand, contract expiry or asset sales that could reduce organic earnings capacity and complicate long-term growth and cash return plans.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified regulated asset base
CKI's holdings across regulated utilities, energy and transport assets in multiple geographies create structurally stable revenue streams. Regulated frameworks and long-term contracts support predictable cash flows and lower demand cyclicality, underpinning durability of earnings and dividend capacity.
Read all positive factors
CK Infrastructure Holdings (1038) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$158.12B
Dividend Yield4.5%
Average Volume (3M)2.01M
Price to Earnings (P/E)16.7
Beta (1Y)0.02
Revenue Growth-11.52%
EPS Growth1.85%
CountryHK
Employees2,358
SectorUtilities
Sector Strength65
IndustryRegulated Electric
Share Statistics
EPS (TTM)1.55
Shares Outstanding2,519,610,800
10 Day Avg. Volume2,204,296
30 Day Avg. Volume2,009,375
Financial Highlights & Ratios
PEG Ratio8.95
Price to Book (P/B)1.13
Price to Sales (P/S)32.85
P/FCF Ratio77.32
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$72.71Price Target Upside11.17% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering5
EPS Forecast (FY)3.83
Revenue Forecast (FY)HK$4.82B
CK Infrastructure Holdings Business Overview & Revenue Model
Company Description
CK Infrastructure Holdings Limited, an infrastructure company, develops, invests in, operates, and commercializes infrastructure businesses in Hong Kong, Mainland China, the United Kingdom, Continental Europe, Australia, New Zealand, Canada, and t...
How the Company Makes Money
CK Infrastructure Holdings primarily makes money from (1) its share of profits, dividends, and distributions from subsidiaries, joint ventures, and associates that own and operate infrastructure and utility assets, and (2) investment and financing...
CK Infrastructure Holdings Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
72
Positive
Cash Flow
63
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 4.42B | 4.99B | 5.99B | 6.62B | 7.05B |
| Gross Profit | 146.00M | 2.66B | 1.73B | 3.53B | 2.42B |
| EBITDA | 541.00M | 9.94B | 9.86B | 9.28B | 8.94B |
| Net Income | 8.70B | 8.12B | 8.03B | 7.75B | 7.51B |
Balance Sheet | |||||
| Total Assets | 166.26B | 157.84B | 165.87B | 165.87B | 163.00B |
| Cash, Cash Equivalents and Short-Term Investments | 7.35B | 8.11B | 13.08B | 18.05B | 8.09B |
| Total Debt | 30.98B | 19.54B | 24.57B | 28.56B | 40.12B |
| Total Liabilities | 38.30B | 26.59B | 32.60B | 46.37B | 47.04B |
| Stockholders Equity | 127.91B | 131.16B | 133.18B | 119.39B | 115.83B |
Cash Flow | |||||
| Free Cash Flow | 1.88B | 1.59B | 3.50B | 6.64B | 7.47B |
| Operating Cash Flow | 2.21B | 1.97B | 3.85B | 7.12B | 7.83B |
| Investing Cash Flow | 3.95B | 3.18B | 2.41B | 14.87B | -1.04B |
| Financing Cash Flow | -6.92B | -10.12B | -11.22B | -6.19B | -12.19B |
CK Infrastructure Holdings Technical Analysis
Positive
65.40
Price Trends
64.55
Positive
60.91
Positive
56.62
Positive
Market Momentum
0.28
Negative
51.37
Neutral
58.54
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1038, the sentiment is Positive. The current price of 65.4 is above the 20-day moving average (MA) of 64.03, above the 50-day MA of 64.55, and above the 200-day MA of 56.62, indicating a bullish trend. The MACD of 0.28 indicates Negative momentum. The RSI at 51.37 is Neutral, neither overbought nor oversold. The STOCH value of 58.54 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:1038.
CK Infrastructure Holdings Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | HK$191.63B | 16.48 | 9.82% | 4.54% | -3.24% | -10.85% | |
70 Outperform | HK$70.91B | 12.01 | 12.60% | 4.30% | 1.89% | -0.52% | |
68 Neutral | HK$101.42B | 6.06 | 12.76% | 5.89% | -3.11% | -5.45% | |
68 Neutral | HK$138.52B | 18.85 | 6.94% | 5.15% | -16.10% | 1.91% | |
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
64 Neutral | HK$136.96B | 23.00 | 9.73% | 4.94% | -2.07% | -0.42% | |
63 Neutral | HK$158.12B | 16.68 | 6.45% | 4.50% | -11.52% | 1.85% |
* Utilities Sector Average
HK:1038
CK Infrastructure Holdings
66.20
16.48
33.14%
HK:0002
CLP Holdings
75.85
12.53
19.80%
HK:0836
China Resources Power Holdings Co
19.59
1.80
10.12%
HK:0006
Power Assets Holdings
65.00
16.41
33.78%
HK:0003
Hong Kong & China Gas Co
7.34
0.69
10.44%
HK:2688
ENN Energy Holdings
62.80
4.08
6.95%
CK Infrastructure Holdings Corporate Events
CK Infrastructure Releases 2025 Reports and Sets Date for Hybrid 2026 AGM
Apr 16, 2026
CK Infrastructure Holdings has published its Annual Report and Accounts 2025, Sustainability Report 2025 and the Notice of its 2026 Annual General Meeting, making these documents available on the company’s website and through the U.K. Financ...
CK Infrastructure Sets 2026 AGM to Approve Fees and New Share Issue Mandate
Apr 16, 2026
CK Infrastructure Holdings has called its 2026 Annual General Meeting for 20 May in Hong Kong as a hybrid in-person and online event, where shareholders will review the 2025 audited financial statements, vote on a final dividend, elect directors a...
CK Infrastructure calls hybrid SGM to approve major disposal deal
Apr 7, 2026
CK Infrastructure Holdings has called a special general meeting for 27 April 2026 in Hong Kong, to be held as a hybrid physical and online event, giving shareholders the option to attend and vote via an online platform or in person. The meeting wi...
CK Infrastructure Announces HK$1.88 Final Dividend for 2025
Mar 18, 2026
CK Infrastructure Holdings has declared a final ordinary dividend of HK$1.88 per share for the financial year ended 31 December 2025, subject to shareholder approval on 20 May 2026. The dividend, payable in Hong Kong dollars, will be distributed o...
CK Infrastructure marks 30 years with steady 2025 profits and higher dividend
Mar 18, 2026
CK Infrastructure Holdings, which has transformed over three decades into one of the world’s largest global infrastructure investors, reported net assets of HK$137.9 billion at the end of 2025 and a long record of rising dividends since its ...
CK Infrastructure Sets March 2026 Board Meeting to Approve 2025 Results and Final Dividend
Mar 5, 2026
CK Infrastructure Holdings has scheduled a board meeting in Hong Kong on 18 March 2026 to review and approve the annual results for the financial year ended 31 December 2025. At the same meeting, the board will also consider the payment of a final...
CKI and CK Hutchison Move to Monetise UK Power Networks Stake in Major Disposal
Feb 25, 2026
CK Infrastructure Holdings and CK Hutchison Holdings have agreed to sell their combined 100% stake in UK Power Networks via a share purchase agreement involving CKI Sub, PAH Sub, CKA Sub and a third-party purchaser. The transaction will dispose of...
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.