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0388.HK$410.40+2.55%
Fair $410.40+0.0%

0388.HK

Hong Kong Exchanges and Clearing Limited

Financial Services / Financial Data & Stock ExchangesHKSE

$410.40

+10.20 (+2.55%)

Fairly Valued+0.0%Fair Value $410.40Fund rank 38/100 · Data gapFallback financials|
SA 57/C
F-Score: 6/9

Book/ROE base 3Y

n/d

n/d CAGR · P/B n/d

Book/ROE base 5Y

n/d

n/d base · n/d expected

Precio de entrada

n/d

MOS 100% · confianza 20%

Book/ROE escenarios

weak_data · book/share n/d · quality 95.0/100

Data gap 38/100
Bear 5Yn/dn/d
Base 5Yn/dn/d
Bull 5Yn/dn/d
Return 0/100Downside 20/100Model quality 83/100Data QA 20/100

Ranking barato/determinista: CAGR esperado 5Y + downside bear + calidad del modelo + balance + capital allocation + data gate. No entra en buy-candidate si la data es débil o el CAGR 5Y no compensa.

Quality + valuation scorecard

SA Score

57/100

C

Piotroski

6/9

balance/quality

Valuation

50/100

+0.0% upside

5Y CAGR

+0.0%

50/100

Data QA

16/100

SEC 0%

Latest source: unknownPeriods: 4Warnings: 0unknown: 4
No SEC-backed annual rows; valuation uses fallback financial data. Insufficient audited annual history (<3 SEC-backed years); financial Book/ROE targets are disabled until manually verified.
Thesis & Journal · 0388.HKLocal privado en este navegador · Hong Kong Exchanges and Clearing Limited
Plantilla tipo buy-side: tesis, bull/base/bear, catalizadores, riesgos, kill criteria y fecha de revisión. Esto no gasta GPT-5.5; luego lo usamos como contexto del memo.

Sin guardar todavía.

Market Cap

$518.8B

P/E

27.6x

↑

EV/EBITDA

12.3x

↓

ROE

30.5%

↑

Gross Margin

80.8%

↑

Debt/Equity

0.01

↓
52-Week Range$410
$379$466

TradingView lightweight chart

0388.HK price, volumen y niveles de valoración

Último $410.40Periodo +4935.6%
Fair value: $410.40

Price & Ratios

Absolute Values (Left Axis)

Ratios / Percentages (Right Axis)

Financial statement dashboard

Crecimiento, márgenes y provenance

2022–2025 · 3 años de histórico normalizado

Revenue CAGR

+11.9%

FCF CAGR

+20.5%

FCF margin

100.6%

FCF / Net income

1.35x

Latest source

Provider fallback

Margin decomposition

Último año: revenue $23.75B · net income $17.75B · FCF $23.89B

2022-FY → 2025-FY

Gross margin

80.8%+2.3% pts

Operating margin

67.9%+6.4% pts

Net margin

74.8%+15.3% pts

FCF margin

100.6%+19.9% pts
MetricTTM
2025
2024
2023
2022
Income Statement
Revenue$23.75B$23.75B$17.35B$15.45B$16.93B
Net Income$17.75B$17.75B$13.05B$11.86B$10.08B
EBITDA$27.40B$27.40B$22.15B$20.87B$15.48B
EPS14.0114.0110.299.367.95
Gross Margin80.8%80.8%74.6%74.2%78.5%
Operating Margin67.9%67.9%57.8%54.9%61.5%
Net Margin74.8%74.8%75.2%76.8%59.5%
Balance Sheet
Debt/Equity0.010.010.020.030.04
Current Ratio1.051.05———
Cash Flow
Free Cash Flow$23.89B$23.89B$11.17B$10.11B$13.67B
Returns
ROE30.5%30.5%24.2%23.1%20.3%
Valuation
P/E27.5627.5627.8927.3345.58
EV/EBITDA12.3512.3510.429.6217.85
P/B8.958.956.766.329.24
Growth & Yield
Revenue Growth36.9%36.9%12.3%-8.8%—
EPS Growth36.2%36.2%9.9%17.7%—
Dividend Yield3.3%3.3%———

Revenue, Net Income & Free Cash Flow ($B)

Margins (%)

Returns (%)

Leverage & Liquidity

Reverse DCF · market-implied EPS growthterminal P/E 15.0x · COE 10.0%

3Y implied EPS CAGR

37.5%

muy exigente

EPS terminal req.

$36.42

Spread vs growth

-1.3%

5Y implied EPS CAGR

25.8%

muy exigente

EPS terminal req.

$44.06

Spread vs growth

10.4%

10Y implied EPS CAGR

17.6%

exigente

EPS terminal req.

$70.96

Spread vs growth

18.5%

Qué te dice: cuánto EPS CAGR está descontando el precio si sales al múltiplo terminal indicado. Si el growth observado queda por debajo, el mercado está pidiendo una ejecución muy fina.

Return attribution · 1Y approxreconcilia total +9.3%

Total return

+9.3%

Start / end P/E

37.6x → 29.3x

EPS bridge

10.29 → 14.01

Residual

-8.0%

EPS growth+36.2%
Multiple rerating-22.2%
Dividend+3.3%
Residual / FX / buybacks / cross-term-8.0%

Simple additive decomposition: total return = EPS growth contribution + P/E multiple contribution + dividend contribution + explicit residual. The residual captures cross-terms, buybacks/share-count effects, FX, special dividends, data noise and methodology mismatch so the bridge always reconciles.