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Water utility supplying Hong Kong via the Dongjiang scheme, also holding property and consumer businesses in Guangdong.
Water utility supplying Hong Kong via the Dongjiang scheme, also holding property and consumer businesses in Guangdong.
Water supply to Hong Kong runs under a multi-year agreement with the Hong Kong government, so that segment is steady rather than driven by usage. Property and retail units are cyclical add-ons. The Guangdong provincial government is the ultimate controlling shareholder.
In one line: A regulated water-supply utility with a diversified property/consumer holding structure.
Moat: wide (regulatory licence, installed base). Exclusive, decades-long concession supplying roughly 70-80% of Hong Kong's fresh water via a fixed pipeline.
Headquarters: Hong Kong · Founded: 1980 · Employees: 10,681
Size Guangdong Investment (0270.HK) is a Hong Kong Utilities company (Water Utilities) with a market value of $6.81B, the 218th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$8.16 on 6 Nov 2026.
Performance Over six months the shares gained 0.1%, against +6.1% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 6th lowest of 13 in its peer set.
Growth Revenue grew 25.4% over the last twelve months (peer median +8.3%); the operating margin is 38.4% (peer median 27.4%).
Valuation It trades at 10.8× forward earnings against a peer median of 15.5× (3rd cheapest of 13).
Price implies For today's price to make sense, revenue must grow about -2% a year for seven years (Req g). Recent delivered growth is -4%, so the hurdle is +2 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 0.6 points below its cost of capital (8.1% WACC).
Next results Next results expected around 29 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$19.6B | HK$18.8B | HK$18.5B | HK$20.3B | HK$23.2B |
| Revenue growth | — | +2% | -9% | -12% | — |
| Gross profit | HK$10.4B | HK$10.0B | HK$9.82B | HK$9.65B | HK$9.82B |
| EBITDA | HK$10.1B | HK$9.75B | HK$9.30B | HK$9.06B | HK$8.34B |
| Net income | HK$4.91B | HK$4.66B | HK$3.14B | HK$3.12B | HK$4.76B |
| Free cash flow | HK$7.53B | HK$7.25B | HK$8.54B | HK$8.03B | -HK$3.41B |
| Capital expenditure | HK$1.49B | HK$1.73B | HK$1.41B | HK$1.10B | HK$2.90B |
| Total debt | n/a | HK$21.9B | HK$24.2B | HK$43.0B | HK$41.4B |
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 |
|---|---|---|---|---|---|---|
| Guangdong Investment 0270.HK | $6.81B | 0% | +25% | 38% | 10.8× | -1.8% |
| Beijing Enterprises Water 0371.HK | $1.86B | -48% | -5% | 24% | 9.5× | 4.2% |
| China Water Affairs 0855.HK | $823M | -22% | -11% | 25% | 5.8× | -0.6% |
| Cki 1038.HK | $21.6B | +9% | -9% | -3% | 7.1× | -0.9% |
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 | 0270.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -6.3% | +5.2% | 3rd lowest of 13 |
| 6-month return | +0.1% | +6.1% | 6th lowest of 13 |
| Distance from 52-week high | -10.3% | -5.7% | 6th lowest of 13 |
| Revenue growth (TTM) | +25.4% | +8.3% | highest of 13 |
| Operating margin | 38.4% | 27.4% | 2nd highest of 13 |
| Forward P/E | 10.8× | 15.5× | 3rd cheapest of 13 |
| Growth the price implies (Req g, 7 yrs) | -1.8% | -1.6% | 4th least demanding of 7 |
| Growth delivered (Del g) | -4.1% | +8.5% | lowest of 7 |
| Hurdle (Req g minus delivered) | +2.3 pp | -7.4 pp | 2nd most demanding of 7 |
| ROIC minus cost of capital | -0.6 pp | -1.1 pp | 7th highest of 13 |
| EV / EBITDA | 7.4× | 14.1× | cheapest of 9 |
| Net debt / EBITDA | 0.6× | 5.5× | least indebted of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Guangdong Investment 0270.HK | Hong Kong | $6.81B | 0% | +25% | 38% | 10.8× | -1.8% | -4.1% |
| Essential Utilities WTRG | United States | $12.9B | +21% | +9% | 36% | 19.8× | n/a | n/a |
| American States Water AWR | United States | $3.57B | +17% | +13% | 32% | 23.9× | 9.3% | +6.2% |
| Severn Trent SVT.L | United Kingdom | $13.4B | +6% | +17% | 30% | 16.3× | n/a | n/a |
| Chengdu Xingrong Environment 000598.SZ | China | $3.27B | +7% | +1% | 29% | 10.3× | -8.2% | +10.8% |
| California Water Service CWT | United States | $3.21B | +17% | +7% | 21% | 19.0× | n/a | n/a |
| Pennon PNN.L | United Kingdom | $3.18B | -35% | +23% | 25% | 13.3× | n/a | n/a |
| Beijing Capital Eco-Environment Protection 600008.SS | China | $3.09B | -8% | -8% | 21% | 10.8× | 0.3% | -0.4% |
| H2O America HTO | United States | $3.04B | +9% | +4% | 21% | 22.5× | n/a | n/a |
| Chongqing Water 601158.SS | China | $3.01B | -6% | +1% | 14% | 22.6× | -5.0% | +3.5% |
| United Utilities UU..L | United Kingdom | $15.4B | +12% | +22% | 41% | 14.7× | n/a | n/a |
| Companhia de Saneamento Basico do Estado de Sao Paulo SABESP Sponsored ADR SBS | United States | $16.3B | -24% | +9% | 31% | 11.8× | -3.4% | +14.6% |
| Zhongshan Public Utilities 000685.SZ | China | $2.36B | -8% | -11% | 11% | 6.2× | 9.9% | +16.2% |