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China's largest waste-to-energy operator, building and running municipal waste-incineration, water-treatment and environmental plants.
China's largest waste-to-energy operator, building and running municipal waste-incineration, water-treatment and environmental plants.
Is paid by Chinese municipalities per tonne of waste burned or water treated, under long-term concessions it builds and then runs, and sells the power the incinerators generate. New plant construction brings project revenue in the build years. China Everbright Group, a state financial conglomerate, is the controlling shareholder.
In one line: China's Covanta, environmental-infrastructure version.
Moat: narrow (regulatory licence, scale, installed base). Long-term municipal BOT/BOO concessions and China's largest incineration fleet create franchise-like operations.
Headquarters: Hong Kong / Beijing, China · Employees: 15,400
Size China Everbright Environment (0257.HK) is a Hong Kong Industrials company (Engineering & Construction) with a market value of $3.91B, the 298th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$4.99 on 6 Nov 2026.
Performance Over six months the shares fell 11.5%, against -17.4% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 9th highest of 21 in its peer set.
Growth Revenue fell 5.4% over the last twelve months (peer median +6.9%); the operating margin is 28.7% (peer median 8.3%).
Valuation It trades at 7.0× forward earnings against a peer median of 19.4× (2nd cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 0% a year for seven years (Req g). Recent delivered growth is -9%, so the hurdle is +8 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 1.6 points below its cost of capital (5.5% WACC).
Next results Next results expected around 31 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$27.4B | HK$27.5B | HK$30.3B | HK$32.1B | HK$37.3B |
| Revenue growth | — | -9% | -6% | -14% | — |
| Gross profit | HK$10.9B | HK$11.1B | HK$11.5B | HK$13.8B | HK$14.4B |
| EBITDA | HK$10.1B | HK$10.8B | HK$10.5B | HK$12.7B | HK$12.9B |
| Net income | HK$4.15B | HK$3.93B | HK$3.38B | HK$4.43B | HK$4.60B |
| Free cash flow | HK$10.1B | HK$9.00B | HK$2.92B | -HK$2.03B | -HK$586M |
| Capital expenditure | HK$1.63B | HK$1.86B | HK$2.37B | HK$3.80B | HK$5.58B |
| Total debt | n/a | HK$96.4B | HK$98.5B | HK$100B | HK$98.2B |
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 Everbright Environment 0257.HK | $3.91B | -11% | -5% | 29% | 7.0× | -0.1% |
| China Everbright Water U9E.SI | $462M | -13% | -33% | 34% | n/a | -1.4% |
| Beijing Enterprises Water 0371.HK | $1.86B | -48% | -5% | 24% | 9.5× | 4.2% |
| Grandblue Environment 600323.SS | $3.78B | -3% | +24% | 24% | 11.0× | -4.7% |
| Chongqing Sanfeng Environment 601827.SS | $2.00B | -3% | +5% | 27% | 10.4× | -11.4% |
| Shanghai Environment 601200.SS | $1.40B | -16% | -10% | 18% | 14.7× | -2.6% |
| Zhejiang Weiming Environment Protection 603568.SS | $4.01B | -27% | -25% | 36% | 11.0× | 6.4% |
| China Conch Venture 0586.HK | $1.79B | -36% | +21% | 18% | 5.5× | n/a |
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 | 0257.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +11.0% | -7.4% | 4th highest of 21 |
| 6-month return | -11.5% | -17.4% | 9th highest of 21 |
| Distance from 52-week high | -15.5% | -43.7% | 5th highest of 21 |
| Revenue growth (TTM) | -5.4% | +6.9% | 5th lowest of 21 |
| Operating margin | 28.7% | 8.3% | 3rd highest of 21 |
| Forward P/E | 7.0× | 19.4× | 2nd cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | -0.1% | 6.4% | 5th least demanding of 16 |
| Growth delivered (Del g) | -8.5% | +11.5% | lowest of 16 |
| Hurdle (Req g minus delivered) | +8.4 pp | -3.0 pp | most demanding of 16 |
| ROIC minus cost of capital | -1.6 pp | +2.8 pp | 4th lowest of 19 |
| EV / EBITDA | 13.0× | 10.9× | 3rd most expensive of 11 |
| Net debt / EBITDA | 8.7× | 1.0× | most indebted of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| China Everbright Environment 0257.HK | Hong Kong | $3.91B | -11% | -5% | 29% | 7.0× | -0.1% | -8.5% |
| Everus Construction ECG | United States | $3.91B | -53% | +33% | 8% | 12.2× | 13.9% | +11.5% |
| Argan AGX | United States | $3.89B | -59% | +29% | 15% | 20.5× | 0.3% | +19.2% |
| Guangdong Hongda 002683.SZ | China | $3.86B | -7% | +15% | 10% | 23.7× | 4.9% | +26.1% |
| Koninklijke BAM Groep BAMNB.AS | Netherlands | $3.85B | +37% | +7% | 3% | 11.5× | -5.2% | +0.8% |
| Wuxi Taiji Industry 600667.SS | China | $3.98B | +32% | -14% | 3% | 21.9× | 13.0% | +11.5% |
| Exponent EXPO | United States | $3.99B | +37% | +15% | 21% | 32.6× | 10.8% | +7.8% |
| L&K Engineering 6139.TW | Taiwan | $3.81B | -23% | +78% | 17% | 6.5× | -9.1% | +41.0% |
| Zhejiang Weiming Environment Protection 603568.SS | China | $4.01B | -27% | -25% | 36% | 11.0× | 6.4% | +15.0% |
| Guangdong Provincial Expressway Development 000429.SZ | China | $4.01B | +9% | +1% | 58% | 18.2× | n/a | n/a |
| MYR MYRG | United States | $4.09B | -40% | +23% | 6% | 18.1× | 14.0% | +10.2% |
| China Southern Power Grid Technology 688248.SS | China | $3.71B | -20% | +28% | 12% | 47.6× | 25.8% | +27.0% |
| China Nuclear Engineering and Construction 601611.SS | China | $4.22B | -29% | -14% | 4% | 26.9× | n/a | n/a |
| Offshore Oil Engineering 600583.SS | China | $4.22B | -6% | +7% | 8% | 12.1× | n/a | n/a |
| Sacyr SCYR.MC | Spain | $3.58B | -14% | +6% | 24% | 20.5× | -5.4% | +0.5% |
| Rail Vikas Nigam RVNL.NS | India | $4.27B | -37% | +5% | 4% | 46.0× | n/a | n/a |
| Comsys 1721.T | Japan | $3.55B | -15% | +4% | 8% | 13.3× | -0.7% | +2.3% |
| Primoris Services PRIM | United States | $3.52B | -38% | -5% | 3% | 13.7× | 22.8% | +16.8% |
| Construction Partners ROAD | United States | $4.38B | -45% | +42% | 9% | 26.5× | 12.5% | +29.1% |
| Arcadis ARCAD.AS | Netherlands | $4.42B | +31% | -1% | 6% | 15.0× | 5.5% | +8.1% |
| Central New Energy 1735.HK | Hong Kong | $4.42B | -11% | +76% | 1% | 63.1× | n/a | n/a |