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Major Asian logistics and freight-forwarding company, majority owned by China's SF Holding.
Major Asian logistics and freight-forwarding company, majority owned by China's SF Holding.
Earns the margin between what it pays airlines and ship operators for space and what it charges shippers, plus fees for running warehouses and handling goods under contracts, so freight rates and trade volumes move results. SF Holding, China's courier group, bought control from the Kuok family's companies in 2021.
In one line: Asia's DHL/Expeditors hybrid.
Moat: narrow (scale, distribution, network effects). Pan-Asian freight network and SF Holding backing give scale advantages over regional-only forwarders.
Headquarters: Hong Kong · Founded: 1981 · Employees: 18,600
Size KLN Logistics (0636.HK) is a Hong Kong Industrials company (Air Freight/Couriers) with a market value of $1.30B, the 534th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$5.62 on 6 Nov 2026.
Performance Over six months the shares fell 15.5%, against -8.8% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 8th lowest of 21 in its peer set.
Growth Revenue fell 1.8% over the last twelve months (peer median +4.4%); the operating margin is 4.2% (peer median 6.3%).
Valuation It trades at 7.0× forward earnings against a peer median of 13.1× (cheapest of 15).
Price implies For today's price to make sense, revenue must grow about -10% a year for seven years (Req g). Recent delivered growth is +3%, so the hurdle is -13 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.2 points above its cost of capital (6.1% WACC).
Next results Next results expected around 30 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$59.0B | HK$56.3B | HK$58.3B | HK$47.4B | HK$82.3B |
| Revenue growth | — | -3% | +23% | -42% | — |
| Gross profit | HK$5.72B | HK$5.89B | HK$5.65B | HK$4.90B | HK$8.77B |
| EBITDA | HK$4.27B | HK$4.30B | HK$4.48B | HK$3.91B | HK$7.20B |
| Net income | HK$1.44B | HK$1.41B | HK$1.54B | HK$791M | HK$3.58B |
| Free cash flow | HK$1.69B | HK$2.55B | HK$2.29B | HK$2.31B | HK$3.94B |
| Capital expenditure | HK$759M | HK$721M | HK$832M | HK$1.18B | HK$1.62B |
| Total debt | n/a | HK$11.5B | HK$12.3B | HK$11.6B | HK$11.8B |
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 |
|---|---|---|---|---|---|---|
| KLN Logistics 0636.HK | $1.30B | -15% | -2% | 4% | 7.0× | -10.4% |
| S.F 002352.SZ | $23.9B | -7% | +6% | 5% | 15.9× | -12.9% |
| Deutsche Post DHL.DE | $72.8B | +21% | +1% | 8% | 16.0× | 3.3% |
| Expeditors International EXPD | $24.0B | +18% | +19% | 10% | 21.1× | 8.9% |
| Sinotrans 0598.HK | $6.57B | -8% | +4% | 0% | 8.6× | 9.4% |
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 | 0636.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -3.7% | -0.5% | 8th lowest of 21 |
| 6-month return | -15.5% | -8.8% | 8th lowest of 21 |
| Distance from 52-week high | -24.6% | -23.9% | 10th lowest of 21 |
| Revenue growth (TTM) | -1.8% | +4.4% | 5th lowest of 20 |
| Operating margin | 4.2% | 6.3% | 8th lowest of 20 |
| Forward P/E | 7.0× | 13.1× | cheapest of 15 |
| Growth the price implies (Req g, 7 yrs) | -10.4% | 5.9% | 2nd least demanding of 16 |
| Growth delivered (Del g) | +2.6% | +5.0% | 7th lowest of 16 |
| Hurdle (Req g minus delivered) | -13.0 pp | +4.2 pp | 6th least demanding of 16 |
| ROIC minus cost of capital | +1.2 pp | -1.3 pp | 7th highest of 20 |
| EV / EBITDA | 4.2× | 7.5× | cheapest of 10 |
| Net debt / EBITDA | 1.2× | -0.0× | 4th most indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| KLN Logistics 0636.HK | Hong Kong | $1.30B | -15% | -2% | 4% | 7.0× | -10.4% | +2.6% |
| Shipping Corporation of India SCI.NS | India | $1.29B | -18% | +17% | 24% | n/a | n/a | n/a |
| COSCO SHIPPING International (Hong Kong) 0517.HK | Hong Kong | $1.32B | +8% | +1% | 5% | 12.6× | 2.3% | +1.5% |
| Bonheur BONHR.OL | Norway | $1.20B | +1% | +4% | 7% | 10.0× | 3.1% | +20.6% |
| Blue Dart Express BLUEDART.NS | India | $1.14B | -20% | +9% | 7% | 26.5× | 22.4% | +13.3% |
| Eternal Asia Supply Chain Management 002183.SZ | China | $1.48B | -32% | -25% | 0% | 54.3× | 29.9% | 0.0% |
| Hub HUBG | United States | $1.48B | -44% | n/a | n/a | 51.6× | n/a | n/a |
| CMST Development 600787.SS | China | $1.49B | -12% | +23% | 0% | n/a | n/a | n/a |
| Fukuyama Transporting 9075.T | Japan | $1.51B | +18% | +6% | 4% | 11.6× | 12.0% | +2.2% |
| Cargojet CJT.TO | Canada | $1.00B | +15% | +1% | 10% | 23.4× | 12.4% | +8.2% |
| Konoike Transport 9025.T | Japan | $973M | +2% | +1% | 6% | 10.9× | -12.5% | +4.0% |
| Xiamen International Trade 600755.SS | China | $1.77B | -10% | +28% | 0% | 11.5× | n/a | n/a |
| Hangzhou SF Intra-city Industrial 9699.HK | Hong Kong | $941M | -24% | +32% | 1% | 13.3× | 5.9% | +35.5% |
| Orient International Enterprise 600278.SS | China | $919M | +1% | -12% | 1% | n/a | n/a | n/a |
| Swedish Logistic Property SLP-B.ST | Sweden | $876M | -9% | +27% | 86% | 14.2× | 11.6% | +60.3% |
| Hengtong Logistic 603223.SS | China | $870M | -9% | +2% | 30% | 15.5× | -9.5% | -24.6% |
| Shenzhen Easttop Supply Chain Management 002889.SZ | China | $845M | +14% | -35% | 6% | n/a | 12.0% | +6.7% |
| Hamakyorex 9037.T | Japan | $808M | -2% | +9% | 10% | 11.4× | -9.0% | +5.5% |
| Ferrari FERGR.AS | Netherlands | $780M | -4% | +3% | 17% | 12.8× | -2.7% | +5.0% |
| Shenzhen Feima International Supply Chain 002210.SZ | China | $768M | -36% | +116% | 11% | n/a | 34.5% | +1.5% |
| Liaoning Cheng Da 600739.SS | China | $2.29B | -16% | -27% | -17% | n/a | 4.4% | -10.1% |