Hong Kong Exchanges & Clearing (HKXCY) AI Stock Analysis

• Market Cap: $66.62B
• Dividend Yield: 2.52%
• Average Volume (3M): 6.32K
• Price to Earnings (P/E): 28.9
• Beta (1Y): 0.57
• Revenue Growth: 35.69%
• EPS Growth: 30.09%
• Country: US
• Employees: 2,444
• Sector: Financial
• Sector Strength: 70
• Industry: Financial - Data & Stock Exchanges
• EPS (TTM): 0.44
• Shares Outstanding: 1,267,837,000
• 10 Day Avg. Volume: 3,748
• 30 Day Avg. Volume: 6,317
• PEG Ratio: 0.81
• Price to Book (P/B): 8.82
• Price to Sales (P/S): 17.61
• P/FCF Ratio: 24.50
• Enterprise Value/Market Cap: 5.11
• Enterprise Value/Revenue: 19.62
• Enterprise Value/Gross Profit: 22.99
• Enterprise Value/Ebitda: 19.43
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 1.87
• Revenue Forecast (FY): $3.93B

• Rating: 72 Outperform
• Price Target: $57.00 ▲(4.45% Upside)
• Action: Upgraded Date: 03/19/26
• Date: Action: Upgraded 03/19/26

The score is driven primarily by strong financial performance (high profitability, low leverage, and strong cash generation). Offsetting this, technical indicators show weaker momentum with the price below key moving averages and a negative MACD, while valuation is moderate-to-expensive due to a higher P/E that is only partly balanced by the dividend yield.

Positive Factors

High profitability

Consistently high gross and net margins indicate durable pricing power from exchange and post-trade services. That operating leverage supports sustained cash generation and returns, enabling reinvestment in technology and market data offerings that underpin long-term competitive advantage.

Negative Factors

Revenue cyclicality

Revenue and margins are materially driven by trading volumes, volatility, and listing activity, making top-line and profit trajectories sensitive to market cycles. This structural exposure can create multi-quarter earnings variability despite healthy underlying economics.

Hong Kong Exchanges & Clearing Business Overview & Revenue Model

Company Description

Hong Kong Exchanges and Clearing Limited, together with its subsidiaries, owns and operates stock exchanges and futures exchanges, and related clearing houses in Hong Kong, Mainland China, and the United Kingdom. It operates through five segments:...

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Hong Kong Exchanges and Clearing Limited, together with its subsidiaries, owns and operates stock exchanges and futures exchanges, and related clearing houses in Hong Kong, Mainland China, and the United Kingdom. It operates through five segments:...

How the Company Makes Money

HKEX primarily makes money by charging fees tied to market activity and by providing issuer and data services. Key revenue streams include: (1) Trading and transaction fees: HKEX earns fees when investors and intermediaries trade securities and de...

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HKEX primarily makes money by charging fees tied to market activity and by providing issuer and data services. Key revenue streams include: (1) Trading and transaction fees: HKEX earns fees when investors and intermediaries trade securities and de...

Hong Kong Exchanges & Clearing Financial Statement Overview

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	17.35B	29.11B	17.35B	20.39B	18.27B	20.75B
Gross Profit	14.81B	24.73B	12.94B	19.52B	17.48B	19.98B
EBITDA	17.53B	22.78B	22.15B	20.87B	12.29B	16.34B
Net Income	12.30B	17.72B	13.05B	11.86B	10.08B	12.54B
Balance Sheet
Total Assets	424.87B	580.72B	381.63B	341.18B	406.05B	399.30B
Cash, Cash Equivalents and Short-Term Investments	282.46B	318.22B	230.91B	203.98B	276.39B	342.33B
Total Debt	873.00M	1.25B	1.68B	2.05B	2.24B	2.06B
Total Liabilities	367.42B	522.00B	327.22B	289.38B	355.95B	349.39B
Stockholders Equity	56.91B	58.14B	53.85B	51.34B	49.73B	49.63B
Cash Flow
Free Cash Flow	0.00	20.93B	11.17B	10.11B	13.67B	11.27B
Operating Cash Flow	0.00	22.66B	12.77B	11.50B	14.96B	12.34B
Investing Cash Flow	0.00	-7.73B	3.19B	-6.29B	-1.70B	2.28B
Financing Cash Flow	0.00	-14.56B	-11.26B	-11.25B	-10.37B	-12.67B

Hong Kong Exchanges & Clearing Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 54.57
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HKXCY, the sentiment is Positive. The current price of 54.57 is above the 20-day moving average (MA) of 50.73, above the 50-day MA of 51.79, and above the 200-day MA of 53.32, indicating a neutral trend. The MACD of -0.23 indicates Negative momentum. The RSI at 58.63 is Neutral, neither overbought nor oversold. The STOCH value of 83.68 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HKXCY.

Hong Kong Exchanges & Clearing Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CME	85 Outperform	$108.60B	24.28	14.48%	3.92%	5.84%	8.51%
CBOE	80 Outperform	$31.08B	23.89	22.99%	1.06%	16.74%	26.74%
HKXCY	72 Outperform	$66.62B	28.93	32.11%	2.52%	35.69%	30.09%
ICE	72 Outperform	$95.29B	28.00	11.60%	1.19%	8.96%	30.16%
MCO	71 Outperform	$79.36B	37.25	62.81%	0.73%	8.77%	13.62%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
NDAQ	65 Neutral	$50.07B	26.70	15.03%	1.07%	16.41%	68.03%