BOC Hong Kong (Holdings) Limited (HK:2388)
:2388
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BOC Hong Kong (Holdings)
(2388)
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Rating:71Outperform
Price Target:
HK$48.00
â–²(11.16% Upside)
Action:UpgradedDate:04/02/26
The score is driven by strong valuation (low P/E and high dividend yield) and supportive price momentum (trading above key moving averages). These positives are tempered by weaker financial quality signals, especially the sharp deterioration to negative operating and free cash flow in 2025 and some data consistency concerns.
Positive Factors
Recent revenue & profit growth
The sharp 2025 revenue acceleration and multi-year net income rise signal strengthening core earning power and demand for lending, treasury and fee services. Durable earnings expansion supports capital accumulation, reinvestment capacity and resilience through business cycles over months.
Negative Factors
Weak operating cash generation (2025)
A sudden and large negative operating cash flow raises funding and liquidity risk, potentially forcing greater wholesale borrowings or asset sales. Persistent cash shortfalls can constrain dividends, capital deployment and buffer against credit stress over the coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Recent revenue & profit growth
The sharp 2025 revenue acceleration and multi-year net income rise signal strengthening core earning power and demand for lending, treasury and fee services. Durable earnings expansion supports capital accumulation, reinvestment capacity and resilience through business cycles over months.
Read all positive factors
BOC Hong Kong (Holdings) (2388) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$456.53B
Dividend Yield5.8%
Average Volume (3M)11.80M
Price to Earnings (P/E)10.4
Beta (1Y)0.54
Revenue Growth1.90%
EPS Growth12.81%
CountryHK
Employees15,309
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)1.70
Shares Outstanding10,572,780,000
10 Day Avg. Volume10,350,373
30 Day Avg. Volume11,804,734
Financial Highlights & Ratios
PEG Ratio2.21
Price to Book (P/B)1.16
Price to Sales (P/S)2.67
P/FCF Ratio-4.70
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$47.18Price Target Upside9.25% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering8
EPS Forecast (FY)3.92
Revenue Forecast (FY)HK$78.32B
BOC Hong Kong (Holdings) Business Overview & Revenue Model
Company Description
BOC Hong Kong (Holdings) Limited, an investment holding company, provides banking and related financial services to corporate and individual customers in Hong Kong, China, and internationally. The company operates through four segments: Personal B...
How the Company Makes Money
BOC Hong Kong (Holdings) primarily earns money through a mix of net interest income, fee and commission income, and treasury/markets-related income, with additional contributions from insurance and other operating income.
1) Net interest income (...
BOC Hong Kong (Holdings) Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
66
Positive
Cash Flow
34
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 156.37B | 71.84B | 59.16B | 51.87B | 76.86B |
| Gross Profit | 88.92B | 71.84B | 152.42B | 51.87B | 46.83B |
| EBITDA | 51.31B | 0.00 | 44.07B | 37.82B | 33.55B |
| Net Income | 40.12B | 38.23B | 32.72B | 27.33B | 24.35B |
Balance Sheet | |||||
| Total Assets | 4.49T | 4.19T | 3.87T | 3.69T | 3.64T |
| Cash, Cash Equivalents and Short-Term Investments | 810.68B | 789.29B | 418.20B | 364.93B | 389.36B |
| Total Debt | 88.60B | 78.68B | 669.39B | 630.20B | 716.53B |
| Total Liabilities | 4.13T | 3.85T | 3.55T | 3.38T | 3.34T |
| Stockholders Equity | 358.53B | 338.72B | 320.14B | 323.26B | 298.00B |
Cash Flow | |||||
| Free Cash Flow | -88.59B | -323.00M | 69.36B | 136.84B | 42.21B |
| Operating Cash Flow | -87.08B | 1.88B | 69.75B | 138.10B | 43.38B |
| Investing Cash Flow | -1.65B | -2.33B | -1.96B | -42.97B | -265.72B |
| Financing Cash Flow | -26.62B | -22.76B | 138.12B | -61.86B | 293.58B |
BOC Hong Kong (Holdings) Technical Analysis
Positive
43.18
Price Trends
41.85
Positive
40.25
Positive
38.16
Positive
Market Momentum
0.15
Negative
58.22
Neutral
89.61
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2388, the sentiment is Positive. The current price of 43.18 is above the 20-day moving average (MA) of 41.57, above the 50-day MA of 41.85, and above the 200-day MA of 38.16, indicating a bullish trend. The MACD of 0.15 indicates Negative momentum. The RSI at 58.22 is Neutral, neither overbought nor oversold. The STOCH value of 89.61 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:2388.
BOC Hong Kong (Holdings) Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | HK$1.15T | 8.32 | 11.95% | 4.26% | -4.57% | 1.77% | |
71 Outperform | HK$456.53B | 10.39 | 11.77% | 5.80% | 1.90% | 12.81% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
66 Neutral | HK$501.60B | 5.02 | 9.01% | 5.76% | -5.46% | 0.33% | |
57 Neutral | HK$206.60B | 5.64 | 6.61% | 5.53% | -8.41% | -5.52% | |
57 Neutral | HK$651.88B | 6.72 | 9.30% | 5.37% | -1.54% | -3.95% | |
52 Neutral | HK$180.84B | 5.60 | 4.68% | 9.09% | -7.28% | -5.00% |
* Financial Sector Average
HK:2388
BOC Hong Kong (Holdings)
43.18
16.16
59.80%
HK:6818
China Everbright Bank Co
3.02
0.25
9.18%
HK:1988
China Minsheng Banking
3.66
0.50
15.79%
HK:0998
China CITIC Bank
7.92
2.54
47.21%
HK:3968
China Merchants Bank Co
49.70
10.76
27.62%
HK:1658
Postal Savings Bank of China Co., Ltd. Class H
4.93
0.64
14.92%
BOC Hong Kong (Holdings) Corporate Events
BOC Hong Kong (Holdings) Delivers Higher 2025 Profit and Stronger Capital Position
Mar 30, 2026
BOC Hong Kong (Holdings) reported solid growth for 2025, with net operating income before impairment allowances rising to HK$77.0 billion from HK$71.3 billion and profit attributable to equity holders increasing to HK$40.1 billion from HK$38.2 bil...
BOC Hong Kong Sets HKD 1.255 Final Dividend for 2025 With July 2026 Payout
Mar 30, 2026
BOC Hong Kong (Holdings) Limited has announced a proposed final ordinary dividend of HKD 1.255 per share for the financial year ended 31 December 2025, with shareholder approval scheduled for 25 June 2026. Subject to approval, the shares will trad...
BOC Hong Kong Sets March 2026 Board Committee Meeting to Approve 2025 Results
Mar 18, 2026
BOC Hong Kong (Holdings) has scheduled a board committee meeting for 30 March 2026 to review and approve its audited consolidated financial statements for the financial year ended 31 December 2025. The committee will also consider the declaration ...
BOC Hong Kong Adds Veteran Legal and Public Affairs Figure to Board as INED
Mar 11, 2026
BOC Hong Kong (Holdings) has appointed veteran barrister and public figure Mr. Liao Cheung Kong Martin as an independent non-executive director and member of its nomination and remuneration, risk, and sustainability committees, effective 11 March ...
BOC Hong Kong Details Board Structure and Governance Committees
Mar 11, 2026
BOC Hong Kong (Holdings) has announced the current composition of its board of directors, detailing non-executive, executive and independent non-executive members and confirming Chairman Ge Haijiao and Vice Chairmen Zhang Hui and Sun Yu in key lea...
BOC Hong Kong Completes BOCI Private Bank Purchase and Po Sang Securities Sale
Jan 28, 2026
BOC Hong Kong (Holdings) Limited has confirmed that all conditions have been met for BOCHK’s acquisition of the entire share capital of BOCI Private Bank and the disposal of its entire stake in Po Sang Securities, with both transactions comp...
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.