# Hongkong Land Holdings Limited (HKLD.L) fundamentals

Data as of 2026-09-08. LSE, United Kingdom. Sector: Real Estate / Real Estate Management & Development. Price $8.48, market value $18.1 billion.

## Valuation
- **P/E (trailing): 8.0×** (5-yr avg 43.9×, 3-yr avg 12.5×). Hongkong Land Holdings Limited trades at 8.0× trailing earnings, well below its own five-year average of 43.9×: cheap by its own standards. The Real Estate median in the September 2026 study was 25.2×.
- **Price / sales: 5.1×**. Each dollar of revenue is priced at 5.1×.
- **Price / book: 0.6×**. The shares trade below book value, which can signal a bargain or a balance sheet the market doubts.
- **EV / EBITDA: 9.9×**. Enterprise value is 9.9× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: 5.6%** (5-yr avg 3.6%). Free cash flow equals 5.6% of the market value, above its five-year average of 3.6%, so the shares are cheaper on cash than they have usually been. Above 5% is generally attractive.
- **Earnings yield: 12.5%**. The inverse of the P/E: 12.5% of the price is earned each year.

## Profitability
- **Gross margin: 36.8%**. Hongkong Land Holdings Limited keeps 36.8% of revenue after the direct cost of what it sells.
- **Operating margin: -0.8%**. Operating margin is negative: the business loses money before interest and tax.
- **Net margin: 85.0%**. 85.0% of each dollar of sales reaches the bottom line.
- **Return on equity: 4.1%**. 4.1% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: -0.1%**. Return on all capital, debt included, is -0.1%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: -0.3%**. Each dollar of assets produces -0.3% of profit.

## Growth
- **Revenue growth (1 yr): -25.7%** (3-yr -12.8%/yr, 5-yr -6.6%/yr). Revenue fell 25.7% over the last year, against -6.6% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): 192.1%** (3-yr 86.2%/yr). Earnings per share rose 192.1%, faster than revenue, so margins expanded or the share count shrank.
- **Free-cash-flow growth (3 yr): -18.1%/yr**. Free cash flow has compounded at -18.1% a year over three years, lagging earnings: check whether profits are turning into cash.

## Financial health
- **Debt to equity: 0.20**. Debt is 0.20 times equity: a conservative balance sheet.
- **Net debt / EBITDA: 1.6×**. It would take 1.6 years of operating earnings to repay net borrowings, within the comfortable range.
- **Interest coverage: -0.3×**. Operating profit covers interest only -0.3×: fragile.
- **Current ratio: 9.67** (quick 6.35). Current assets cover the next year's liabilities 9.67 times.
- **Altman Z-score: 2.25**. A Z-score of 2.25 is in the grey zone; not distressed, not clearly safe.
- **Piotroski F-score: 5/9**. 5 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 3.65%** ($0.27 per share, trailing). Hongkong Land Holdings Limited yields 3.65%, an income-level yield.
- **Payout ratio: 40%** (97% of free cash flow). 40% of earnings goes out as dividends, leaving room to keep raising it.
- **Dividend growth (5 yr): -0.4%/yr** (1-yr -0.9%). The dividend has not grown over five years.
- **Shareholder yield: 5.1%**. Dividends plus net buybacks return 5.1% of the market value a year.

## Price and momentum
- **Total return (1 yr): 1.9%** (YTD 1.9%, 3-mo 0.0%). The shares are up 1.9% over twelve months including dividends.
- **From 52-week high: -2.2%** (40.9% above the low). Trading within 5% of its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 48**. An RSI of 48 is neutral.
- **Beta (1 yr): 0.06** (volatility 17%). Beta of 0.06 against the FTSE All-Share: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=HKLD.L · Page: https://foliofundamentals.com/stocks/hkld.l

Not investment advice.