Wharf Real Estate Investment Company Limited (1997.HK) stock price, financials & research

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Company profile

Wharf Real Estate Investment Company Limited operates as an investment holding entity, specializing in the investment, development, ownership, and operation of real estate and hospitality assets. Its activities span Hong Kong, Mainland China, and Singapore. The company organizes its operations into four distinct segments: Investment Properties, Development Properties, Hotel operations, and Investment activities. Prominent among its diverse portfolio are major commercial hubs like Harbour City, which integrates offices, retail outlets, serviced apartments, hotels, clubs, and extensive parking facilities. Another significant asset is Times Square, a retail space also featuring office and parking provisions. Other notable commercial properties include Wheelock House and Crawford House. In the hotel sector, it manages The Murray, a luxury establishment with 336 rooms. Retail destinations like Plaza Hollywood, complete with shops, restaurants, and a six-screen cinema multiplex, alongside Wheelock Place and Scotts Square mall, further comprise its property holdings. Beyond its property ventures, the company is uniquely involved in operating The Star Ferry, which offers two essential inner-harbour ferry services connecting Tsim Sha Tsui and Wan Chai. Additionally, Wharf Real Estate provides various leasing, finance, and management services, and actively participates in property investment. Established in 1886, the company's headquarters are located in Kowloon, Hong Kong.

Industry: Real Estate - Services
Sector: Real Estate
Headquarters: HK
CEO: Tin Hoi Ng
Listed since: Nov 23, 2017
Employees: 2,800

Market position

Day range

Current HK$32.98

HK$32.98HK$33.68

52-week range

Current HK$32.98

HK$20.26HK$34.82

Open: HK$33.50
Previous close: HK$33.46
Volume: 1.14M; 0.22× average
Average volume: 5.24M; Average daily volume
Market cap: 100.13B HKD
Beta: 0.82; Market reference 1
50-day average: HK$25.6648; +28.50% above average
200-day average: HK$25.2516; +30.61% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value: 106.6B HKD
P/E (TTM): -49.37×
P/B (TTM): 0.56×
P/S (TTM): 7.85×
EV / EBITDA: 11.14×
Earnings yield: -5.70%
Free cash flow yield: 9.01%
Dividend yield: 4.00%

Profitability & efficiency

Gross margin: 76.20%
Operating margin: 72.70%
Net margin: -15.90%
Return on equity: -2.34%
Return on assets: -1.85%
Return on invested capital: 4.07%

Financial health

Debt / equity: 0.17×
Current ratio: 0.27×
Altman Z-score: 1.79
Piotroski F-score: 5 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin

Income trends

Revenue

12.82B HKD-0.75%

Operating income

9.35B HKD-3.53%

Net income

−4.26B HKD−5.15B HKD

Metric (HKD)	FY2025	FY2024	FY2023	FY2022	FY2021
Revenue	12.82B HKD	12.91B HKD	13.31B HKD	12.41B HKD	16.04B HKD
Cost of goods sold	2.78B HKD	2.57B HKD	2.62B HKD	2.76B HKD	5.67B HKD
Gross profit	10.03B HKD	10.34B HKD	10.68B HKD	9.65B HKD	10.38B HKD
Selling, general, and administrative	450M HKD	412M HKD	445M HKD	857M HKD	1.31B HKD
Operating expenses	685M HKD	649M HKD	691M HKD	1.14B HKD	1.64B HKD
Interest income	283M HKD	−72M HKD	−72M HKD	—	662M HKD
Interest expense	1.43B HKD	2.02B HKD	2.26B HKD	1.23B HKD	740M HKD
Depreciation and amortization	220M HKD	237M HKD	246M HKD	280M HKD	330M HKD
Operating income	9.35B HKD	9.69B HKD	9.99B HKD	8.84B HKD	9.04B HKD
Net income	−4.26B HKD	891M HKD	4.77B HKD	−8.86B HKD	4.39B HKD