Loading…
Port operator managing container and bulk terminals across China and internationally, part of China Merchants Group.
Port operator managing container and bulk terminals across China and internationally, part of China Merchants Group.
Earns fees per container handled and for storage at terminals it runs, but much of its profit is its share of earnings of terminals owned jointly with others, including stakes in Chinese hub ports and a minority interest in Terminal Link, a global operator it owns jointly with shipping line CMA CGM. State-owned China Merchants Group controls it.
In one line: A Chinese state-affiliated global port operator, akin to DP World.
Moat: narrow (installed base, regulatory licence, scale). Long-term port concessions and berth infrastructure are costly and slow to replicate.
Headquarters: Shenzhen, China · Founded: 1979 · Employees: 8,683
Size China Merchants Port (0144.HK) is a Hong Kong Industrials company (Other Transportation) with a market value of $8.93B, the 172nd largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$16.68 on 6 Nov 2026.
Performance Over six months the shares gained 4.8%, against +1.1% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 7th highest of 21 in its peer set.
Growth Revenue grew 13.5% over the last twelve months (peer median +8.5%); the operating margin is 38.4% (peer median 20.7%).
Valuation It trades at 9.3× forward earnings against a peer median of 16.8× (2nd cheapest of 19).
Price implies For today's price to make sense, revenue must grow about 4% a year for seven years (Req g). Recent delivered growth is +8%, so the hurdle is -4 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 3.8 points below its cost of capital (6.5% WACC).
Next results Next results expected around 1 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$14.2B | HK$13.4B | HK$11.8B | HK$11.5B | HK$12.5B |
| Revenue growth | — | +13% | +3% | -8% | — |
| Gross profit | HK$7.02B | HK$6.45B | HK$5.45B | HK$5.11B | HK$5.51B |
| EBITDA | HK$7.79B | HK$7.25B | HK$6.59B | HK$5.98B | HK$6.15B |
| Net income | HK$6.71B | HK$6.46B | HK$7.92B | HK$6.23B | HK$7.78B |
| Free cash flow | HK$8.18B | HK$7.64B | HK$6.17B | HK$4.67B | HK$5.94B |
| Capital expenditure | HK$952M | HK$873M | HK$1.20B | HK$1.31B | HK$1.51B |
| Total debt | n/a | HK$36.3B | HK$36.1B | HK$39.0B | HK$41.7B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| China Merchants Port 0144.HK | $8.93B | +5% | +14% | 38% | 9.3× | 4.1% |
| COSCO SHIPPING Ports 1199.HK | $3.32B | +18% | +12% | 14% | 8.5× | 8.7% |
| Qingdao Port International 6198.HK | $8.84B | -1% | +10% | 32% | 8.0× | -12.2% |
| Hutchison Port Holdings Trust NS8U.SI | $1.96B | +7% | +5% | 42% | 15.3× | -10.5% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 0144.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -2.5% | +8.3% | 2nd lowest of 21 |
| 6-month return | +4.8% | +1.1% | 7th highest of 21 |
| Distance from 52-week high | -7.7% | -18.8% | 4th highest of 21 |
| Revenue growth (TTM) | +13.5% | +8.5% | 8th highest of 21 |
| Operating margin | 38.4% | 20.7% | 4th highest of 21 |
| Forward P/E | 9.3× | 16.8× | 2nd cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | 4.1% | 4.7% | 8th least demanding of 16 |
| Growth delivered (Del g) | +8.3% | +21.5% | 4th lowest of 16 |
| Hurdle (Req g minus delivered) | -4.2 pp | -16.6 pp | 3rd most demanding of 16 |
| ROIC minus cost of capital | -3.8 pp | +0.6 pp | 4th lowest of 21 |
| EV / EBITDA | 13.4× | 11.0× | 4th most expensive of 11 |
| Net debt / EBITDA | 2.2× | 3.3× | 5th least indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| China Merchants Port 0144.HK | Hong Kong | $8.93B | +5% | +14% | 38% | 9.3× | 4.1% | +8.3% |
| Qingdao Port International 601298.SS | China | $8.98B | +10% | +4% | 31% | 12.0× | -12.0% | +7.2% |
| StandardAero SARO | United States | $9.14B | +10% | +13% | 10% | 16.4× | 10.9% | +13.5% |
| Shanghai International Airport 600009.SS | China | $9.22B | -9% | +7% | 19% | 23.7× | -2.6% | +25.4% |
| Jiangsu Expressway 0177.HK | Hong Kong | $9.54B | +6% | +8% | 26% | 10.1× | n/a | n/a |
| Shandong Hi-speed 600350.SS | China | $8.06B | +4% | -4% | 20% | 18.0× | 4.7% | +13.0% |
| Grupo Aeroportuario del Sureste SAB de CV Sponsored ADR ASR | United States | $7.95B | -15% | +26% | 41% | 12.2× | -2.3% | +27.0% |
| Flughafen Zurich FHZN.SW | Switzerland | $7.94B | -3% | +4% | 35% | 20.3× | 0.3% | +16.9% |
| China Merchants Expressway Network & Technology 001965.SZ | China | $10.6B | +10% | +26% | 15% | 14.6× | 6.7% | +13.7% |
| GMR Airports GMRAIRPORT.NS | India | $11.1B | -2% | +29% | 27% | 296.2× | n/a | n/a |
| Fraport FRA.DE | Germany | $7.09B | +1% | +3% | 19% | 21.2× | 6.3% | +21.5% |
| Hankyu Hanshin 9042.T | Japan | $7.03B | +3% | +6% | 10% | 13.2× | n/a | n/a |
| Kobenhavns Lufthavne A/S KBHL.CO | Denmark | $6.60B | -6% | +9% | 34% | n/a | 6.7% | +28.5% |
| Lyft LYFT | United States | $6.47B | +19% | +11% | -2% | 21.9× | -6.1% | +21.7% |
| Aeroports de Paris ADP.PA | France | $13.0B | +9% | +5% | 18% | 18.1× | 11.5% | +25.7% |
| Grupo Aeroportuario del Pacifico SAB de CV Sponsored ADR PAC | United States | $14.5B | +1% | +20% | 44% | 17.1× | 8.2% | +31.3% |
| Tokyo Metro 9023.T | Japan | $5.31B | -8% | +3% | 21% | 16.5× | 4.8% | +7.4% |
| Grupo Aeroportuario del Centro Norte SAB de CV Sponsored ADR OMAB | United States | $5.21B | +2% | +21% | 53% | 13.2× | -5.1% | +27.2% |
| Zhejiang Expressway 0576.HK | Hong Kong | $4.86B | -13% | +18% | 33% | 5.9× | n/a | n/a |
| Hainan Airport Infrastructure 600515.SS | China | $4.56B | -26% | +25% | -5% | 133.0× | n/a | n/a |
| Liaoning Port 601880.SS | China | $4.54B | -10% | -3% | 21% | n/a | -10.7% | -1.3% |