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World's largest pork company, processing and selling packaged meats in China, the US and Europe.
World's largest pork company, processing and selling packaged meats in China, the US and Europe.
Mixes slaughtering and fresh pork, which move with hog prices, with packaged meats that carry higher margins, across China, the US and Europe. Its 2013 purchase of Smithfield made it the world's largest pork company, and Smithfield was listed separately in New York in 2025, with WH Group keeping a majority.
In one line: Owns Smithfield Foods; a global Tyson/Hormel of pork.
Moat: narrow (scale, distribution, brand). Vertical integration from hog farming to branded packaged meat gives cost and distribution scale.
Headquarters: Hong Kong / Luohe, China · Founded: 1998 · Employees: 106,000
Size Wh Group (0288.HK) is a Hong Kong Consumer Staples company (Food: Meat/Fish/Dairy) with a market value of $10.8B, the 158th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$6.59 on 6 Nov 2026.
Performance Over six months the shares fell 30.8%, against +3.3% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 2nd lowest of 18 in its peer set.
Growth Revenue grew 5.6% over the last twelve months (peer median +2.9%); the operating margin is 8.9% (peer median 7.4%).
Valuation It trades at 8.4× forward earnings against a peer median of 17.0× (cheapest of 18).
Price implies For today's price to make sense, revenue must grow about -16% a year for seven years (Req g). Recent delivered growth is +2%, so the hurdle is -18 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 7.4 points above its cost of capital (6.2% WACC).
Next results Next results expected around 30 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$222B | HK$218B | HK$202B | HK$205B | HK$220B |
| Revenue growth | — | +8% | -1% | -7% | — |
| Gross profit | HK$42.4B | HK$41.5B | HK$40.4B | HK$33.2B | HK$38.6B |
| EBITDA | HK$25.7B | HK$25.6B | HK$23.9B | HK$17.0B | HK$22.0B |
| Net income | HK$12.1B | HK$12.2B | HK$12.6B | HK$4.92B | HK$10.7B |
| Free cash flow | HK$14.1B | HK$14.5B | HK$13.4B | HK$5.49B | HK$5.62B |
| Capital expenditure | HK$4.56B | HK$4.80B | HK$5.56B | HK$6.40B | HK$7.68B |
| Total debt | n/a | HK$32.1B | HK$28.9B | HK$29.0B | HK$30.4B |
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 |
|---|---|---|---|---|---|---|
| Wh Group 0288.HK | $10.8B | -31% | +6% | 9% | 8.4× | -16.4% |
| Mengniu Dairy 2319.HK | $10.5B | +28% | +3% | 5% | 14.7× | 6.7% |
| Tyson Foods TSN | $20.6B | -13% | +3% | 3% | 17.4× | 6.7% |
| Hormel Foods HRL | $12.1B | +7% | +1% | 7% | 14.4× | 0.9% |
| JBS JBS | $13.4B | -23% | +334% | 4% | 11.8× | -6.5% |
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 | 0288.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -1.4% | +8.2% | 3rd lowest of 18 |
| 6-month return | -30.8% | +3.3% | 2nd lowest of 18 |
| Distance from 52-week high | -36.5% | -17.2% | 3rd lowest of 18 |
| Revenue growth (TTM) | +5.6% | +2.9% | 7th highest of 18 |
| Operating margin | 8.9% | 7.4% | 7th highest of 18 |
| Forward P/E | 8.4× | 17.0× | cheapest of 18 |
| Growth the price implies (Req g, 7 yrs) | -16.4% | 3.3% | least demanding of 15 |
| Growth delivered (Del g) | +1.9% | +4.7% | 6th lowest of 14 |
| Hurdle (Req g minus delivered) | -18.4 pp | -3.8 pp | least demanding of 14 |
| ROIC minus cost of capital | +7.4 pp | +2.5 pp | 3rd highest of 18 |
| EV / EBITDA | 4.1× | 10.3× | 2nd cheapest of 16 |
| Net debt / EBITDA | 0.3× | 1.7× | 4th least indebted of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Wh Group 0288.HK | Hong Kong | $10.8B | -31% | +6% | 9% | 8.4× | -16.4% | +1.9% |
| Mengniu Dairy 2319.HK | Hong Kong | $10.5B | +28% | +3% | 5% | 14.7× | 6.7% | +0.9% |
| Hormel Foods HRL | United States | $12.1B | +7% | +1% | 7% | 14.4× | 0.9% | +4.7% |
| Magnum Ice Cream MICC.AS | Netherlands | $12.1B | +35% | +1% | 8% | 17.9× | 10.9% | +1.8% |
| Saputo SAP.TO | Canada | $12.4B | +7% | -5% | 6% | 21.2× | -1.9% | +4.2% |
| Mowi MOWI.OL | Norway | $12.4B | +12% | +10% | 13% | 17.8× | 7.5% | +10.7% |
| Henan Shuanghui Investment & Development 000895.SZ | China | $12.7B | -12% | -4% | 11% | 17.3× | -4.6% | -4.3% |
| JBS JBS | United States | $13.4B | -23% | +334% | 4% | 11.8× | -6.5% | n/a |
| Smithfield Foods SFD | United States | $7.60B | -26% | -2% | 7% | 13.0× | -11.5% | +1.9% |
| Emmi EMMN.SW | Switzerland | $6.32B | +16% | +4% | 7% | 21.8× | 0.3% | +5.1% |
| Tyson Foods TSN | United States | $20.6B | -13% | +3% | 3% | 17.4× | 6.7% | +4.7% |
| Yakult Honsha 2267.T | Japan | $5.15B | +3% | -1% | 9% | 17.0× | n/a | n/a |
| Want Want China 0151.HK | Hong Kong | $4.43B | -32% | +6% | 18% | 9.7× | n/a | n/a |
| Cranswick CWK.L | United Kingdom | $3.94B | +7% | +10% | 8% | 17.2× | 5.7% | +9.5% |
| Nh Foods 2282.T | Japan | $3.40B | -10% | +7% | 3% | 14.0× | n/a | n/a |
| China Feihe 6186.HK | Hong Kong | $3.16B | -20% | -4% | 15% | 11.8× | -14.7% | -1.2% |
| Bakkafrost P/F BAKKA.OL | Norway | $2.77B | +4% | +7% | 14% | 23.1× | 9.5% | +10.1% |
| Leroy Seafood LSG.OL | Norway | $2.74B | -2% | +1% | 6% | 14.6× | 7.7% | +11.5% |