HK$409.20
2.01%
Hong Kong, Fri, Nov 21 2025
ISIN
HK0388045442
Symbol
388
Index

Hong Kong Exchanges & Clearing Ltd. Target price 2025 - Analyst rating & recommendation

Hong Kong Exchanges & Clearing Ltd. Classifications & Recommendation:

Buy
92%
Hold
8%

Hong Kong Exchanges & Clearing Ltd. Price Target

Target Price HK$530.91
Price HK$409.20
Potential
Number of Estimates 17
17 Analysts have issued a price target Hong Kong Exchanges & Clearing Ltd. 2026 . The average Hong Kong Exchanges & Clearing Ltd. target price is HK$530.91. This is higher than the current stock price. The highest price target is
HK$571.20 39.59%
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, the lowest is .
A rating was issued by 25 analysts: 23 Analysts recommend Hong Kong Exchanges & Clearing Ltd. to buy, 2 to hold and 0 to sell.
Analysts don't have a crystal ball either, but they do represent the opinion of the market quite well. You should not take the price potential and the ratings as a recommendation to act. Rather, they serve as an additional building block for your own opinion or stock analysis.
Analyst Estimates: Analysts believe that the Hong Kong Exchanges & Clearing Ltd. stock has an average upside potential 2026 of . Most analysts recommend the Hong Kong Exchanges & Clearing Ltd. stock at Purchase.

Sales and Margin forecast 2025, 2026 & 2027

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Quarter Annually
Dec '24 2025
Estimates
Revenue Billion HK$ 17.35 27.79
12.31% 60.22%
EBITDA Margin 65.46% 76.86%
2.44% 17.42%
Net Margin 75.23% 60.08%
2.04% 20.14%

22 Analysts have issued a sales forecast Hong Kong Exchanges & Clearing Ltd. 2025 . The average Hong Kong Exchanges & Clearing Ltd. sales estimate is

HK$27.8b
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. This is
36.79% higher
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than the revenue of the last 12 months(TTM). The highest sales forecast is
HK$30.5b 49.96%
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, the lowest is
HK$22.6b 11.28%
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.

This results in the following potential growth metrics:

Revenue Estimates

2024 HK$17.3b 12.31%
2025
HK$27.8b 60.22%
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2026
HK$28.9b 4.11%
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2027
HK$31.0b 7.23%
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17 Analysts have issued an Hong Kong Exchanges & Clearing Ltd. EBITDA forecast 2025. The average Hong Kong Exchanges & Clearing Ltd. EBITDA estimate is

HK$21.4b
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. This is
49.60% higher
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than the EBITDA of the last 12 months(TTM). The highest EBITDA forecast is
HK$23.1b 62.13%
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, the lowest is
HK$19.6b 37.59%
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.

This results in the following potential growth metrics and future EBITDA Margins:

EBITDA Estimates

2024 HK$11.4b 15.05%
2025
HK$21.4b 88.13%
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2026
HK$21.9b 2.59%
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2027
HK$23.1b 5.58%
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2028
HK$25.7b 11.15%
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2029
HK$28.4b 10.33%
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2030
HK$31.3b 10.39%
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2031
HK$34.6b 10.46%
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2032
HK$38.2b 10.52%
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EBITDA Margin

2024 65.46% 2.44%
2025
76.86% 17.42%
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2026
75.73% 1.47%
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2027
74.57% 1.53%
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22 Hong Kong Exchanges & Clearing Ltd. Analysts have issued a net profit forecast 2025. The average Hong Kong Exchanges & Clearing Ltd. net profit estimate is

HK$16.7b
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. This is
8.11% higher
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than the net profit for the last 12 months(TTM). The highest net profit forecast is
HK$18.6b 20.50%
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, the lowest is
HK$13.4b 13.18%
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.

This results in the following potential growth metrics and future Net Margins:

Net Profit Estimates

2024 HK$13.1b 10.02%
2025
HK$16.7b 27.94%
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2026
HK$17.2b 3.30%
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2027
HK$18.6b 7.67%
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2028
HK$20.8b 12.23%
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2029
HK$23.0b 10.51%
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2030
HK$25.5b 10.62%
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2031
HK$28.2b 10.70%
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2032
HK$31.3b 10.79%
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Net Margin

2024 75.23% 2.04%
2025
60.08% 20.14%
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2026
59.61% 0.78%
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2027
59.86% 0.42%
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Earnings per share, P/E ratio and EV/sales Estimates 2025, 2026 to 2032

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Quarter Annually
Dec '24 2025
Estimates
Earnings Per Share HK$ 10.29 13.17
9.94% 27.99%
P/E 31.07
EV/Sales 8.90

22 Analysts have issued a Hong Kong Exchanges & Clearing Ltd. forecast for earnings per share. The average Hong Kong Exchanges & Clearing Ltd. EPS is

HK$13.17
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. This is
8.13% higher
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than earnings per share in the financial year 2024. The highest EPS forecast is
HK$14.68 20.53%
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, the lowest is
HK$10.58 13.14%
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.

This results in the following potential growth metrics and future valuations:

Earnings Per Share

2024 HK$10.29 9.94%
2025
HK$13.17 27.99%
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2026
HK$13.60 3.26%
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2027
HK$14.65 7.72%
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2028
HK$16.44 12.22%
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2029
HK$18.17 10.52%
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2030
HK$20.10 10.62%
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2031
HK$22.25 10.70%
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2032
HK$24.65 10.79%
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P/E ratio

Current 33.60 4.96%
2025
31.07 7.52%
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2026
30.08 3.19%
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2027
27.94 7.11%
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2028
24.89 10.92%
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2029
22.52 9.52%
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2030
20.36 9.59%
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2031
18.39 9.68%
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2032
16.60 9.73%
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Based on analysts' sales estimates for 2025, the Hong Kong Exchanges & Clearing Ltd. stock is valued at an EV/Sales of

and an P/S ratio of
19.01
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.

This results in the following potential growth metrics and future valuations:

EV/Sales

Current 12.17 177.85%
2025
8.90 26.90%
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2026
8.55 3.95%
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2027
7.97 6.74%
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P/S ratio

Current 26.01 9.17%
2025
19.01 26.89%
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2026
18.26 3.95%
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2027
17.03 6.74%
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