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Employees: 475
Size Natural Food International (1837.HK) is a Hong Kong Consumer Staples company (Food: Major Diversified) with a market value of $377M, the 832nd largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$1.35 on 6 Nov 2026.
Performance Over six months the shares fell 19.2%, against -11.3% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 4th lowest of 21 in its peer set.
Growth Revenue grew 33.6% over the last twelve months (peer median +1.2%); the operating margin is 13.0% (peer median 7.2%).
Valuation It trades at 7.3× forward earnings against a peer median of 18.3× (2nd cheapest of 10).
Price implies For today's price to make sense, revenue must grow about -18% a year for seven years (Req g). Recent delivered growth is +11%, so the hurdle is -29 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 53.5 points above its cost of capital (8.0% WACC).
Next results Next results expected around 30 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$3.18B | HK$2.74B | HK$2.23B | HK$2.04B | HK$2.00B |
| Revenue growth | — | +23% | +10% | +2% | — |
| Gross profit | HK$2.04B | HK$1.78B | HK$1.47B | HK$1.31B | HK$1.28B |
| EBITDA | HK$455M | HK$372M | HK$263M | HK$228M | HK$180M |
| Net income | HK$352M | HK$288M | HK$204M | HK$168M | HK$135M |
| Free cash flow | HK$275M | HK$218M | HK$265M | HK$174M | HK$169M |
| Capital expenditure | HK$38.8M | HK$37.1M | HK$26.7M | HK$32.7M | HK$26.5M |
| Total debt | n/a | HK$13.3M | HK$12.6M | HK$6.29M | HK$12.7M |
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.
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 | 1837.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +1.9% | -4.9% | 3rd highest of 21 |
| 6-month return | -19.2% | -11.3% | 4th lowest of 21 |
| Distance from 52-week high | -26.2% | -22.2% | 10th lowest of 21 |
| Revenue growth (TTM) | +33.6% | +1.2% | highest of 21 |
| Operating margin | 13.0% | 7.2% | 3rd highest of 21 |
| Forward P/E | 7.3× | 18.3× | 2nd cheapest of 10 |
| Growth the price implies (Req g, 7 yrs) | -18.3% | -5.3% | least demanding of 18 |
| Growth delivered (Del g) | +11.1% | +2.4% | 5th highest of 18 |
| Hurdle (Req g minus delivered) | -29.4 pp | -6.3 pp | 3rd least demanding of 18 |
| ROIC minus cost of capital | +53.5 pp | +2.0 pp | 3rd highest of 21 |
| EV / EBITDA | 3.4× | 9.1× | cheapest of 11 |
| Net debt / EBITDA | -3.1× | -1.1× | 2nd least indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Natural Food International 1837.HK | Hong Kong | $377M | -19% | +34% | 13% | 7.3× | -18.3% | +11.1% |
| Suzhou Weizhixiang Food 605089.SS | China | $394M | -29% | +2% | 9% | 30.7× | 23.6% | +2.4% |
| Tenfu (Cayman) 6868.HK | Hong Kong | $358M | -7% | -7% | 11% | n/a | -2.4% | -5.6% |
| Zhejiang Wufangzhai Industry 603237.SS | China | $404M | -17% | 0% | 7% | 22.2× | -14.3% | -1.5% |
| Shandong Huifa Foodstuff 603536.SS | China | $346M | -7% | -24% | -2% | n/a | 23.1% | +0.2% |
| Xiamen Yan Palace Bird's Nest Industry 1497.HK | Hong Kong | $442M | -14% | +12% | 12% | 10.0× | -16.5% | +8.2% |
| Yamae 7130.T | Japan | $444M | -12% | +10% | 2% | 4.7× | -6.9% | +17.5% |
| Shanghai Bolex Food Technology 603170.SS | China | $319M | -2% | +14% | 12% | 18.3× | -11.9% | +26.4% |
| Samyang 145990.KS | South Korea | $315M | -11% | -1% | 4% | n/a | -4.8% | +4.5% |
| Ve Wong 1203.TW | Taiwan | $314M | +2% | -13% | 15% | n/a | -7.6% | -1.3% |
| Anji Foodstuff 603696.SS | China | $455M | -19% | -17% | 3% | n/a | 38.1% | +6.9% |
| Zinzino ZZ-B.ST | Sweden | $463M | -11% | +33% | 10% | 9.9× | -5.3% | +24.2% |
| Jiangxi Salt Industry 601065.SS | China | $613M | -23% | -14% | 0% | n/a | -2.3% | +11.7% |
| Qingdao Foods 001219.SZ | China | $656M | +42% | +3% | 23% | n/a | 7.3% | +2.4% |
| Xiangpiaopiao Food 603711.SS | China | $660M | -24% | +2% | 7% | 20.7× | -11.3% | -4.9% |
| Lian Hwa Foods 1231.TW | Taiwan | $694M | -12% | +3% | 9% | n/a | n/a | n/a |
| V V Food & Beverage 600300.SS | China | $717M | -18% | +6% | 11% | n/a | -9.2% | -6.8% |
| Standard Foods 1227.TW | Taiwan | $751M | -5% | 0% | 4% | n/a | n/a | n/a |
| Vitasoy International 0345.HK | Hong Kong | $794M | -3% | -3% | 7% | 21.8× | -9.8% | -4.2% |
| Hongmian Zhihui Science and Technology Innovation Co., Ltd. Guangzhou 000523.SZ | China | $798M | -16% | +4% | 2% | n/a | 12.1% | -8.5% |
| AGT Food and Ingredients AGTF.TO | Canada | $922M | +12% | -19% | -2% | 16.0× | n/a | n/a |