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China's leading online platform for car research, pricing, reviews and dealer leads, similar to a car-shopping marketplace.
China's leading online platform for car research, pricing, reviews and dealer leads, similar to a car-shopping marketplace.
Earns from dealers, who pay subscriptions and fees for sales leads, and from automakers, who buy advertising, so the business depends on the car industry's marketing budgets. Its reviews and pricing content draws the visitors that dealers pay to reach.
In one line: China's Edmunds/Cars.com.
Moat: narrow (network effects, brand, data). Leading traffic and dealer-network scale in China's online car-shopping category.
Headquarters: Beijing, China · Founded: 2005 · Employees: 4,242
Size Autohome (2518.HK) is a Hong Kong Communication Services company (Internet Software/Services) with a market value of $2.70B, the 365th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$43.00 on 6 Nov 2026.
Performance Over six months the shares gained 21.1%, against -4.6% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — highest of 8 in its peer set.
Growth Revenue fell 22.2% over the last twelve months (peer median +6.0%); the operating margin is 0.0% (peer median 17.4%).
Valuation It trades at 22.7× forward earnings against a peer median of 13.1× (most expensive of 7).
Price implies For today's price to make sense, revenue must grow about -15% a year for seven years (Req g). Recent delivered growth is -6%, so the hurdle is -9 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 8.9 points below its cost of capital (8.9% WACC).
Next results Next results expected around 25 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$5.70B | HK$7.00B | HK$7.63B | HK$7.94B | HK$8.07B |
| Revenue growth | — | -8% | -4% | -2% | — |
| Gross profit | HK$4.24B | HK$4.87B | HK$5.81B | HK$6.11B | HK$6.28B |
| EBITDA | HK$158M | HK$1.10B | HK$1.34B | HK$1.61B | HK$1.82B |
| Net income | HK$810M | HK$1.50B | HK$1.76B | HK$2.08B | HK$2.10B |
| Free cash flow | n/a | HK$837M | HK$1.34B | HK$2.62B | HK$2.85B |
| Capital expenditure | n/a | HK$128M | HK$152M | HK$87.2M | HK$137M |
| Total debt | HK$0 | HK$97.7M | HK$252M | HK$216M | HK$67.1M |
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 |
|---|---|---|---|---|---|---|
| Autohome 2518.HK | $2.70B | +21% | -22% | 0% | 22.7× | -15.3% |
| Cars.com CARS | $715M | +14% | +1% | 11% | 6.2× | 5.7% |
| CarMax KMX | $7.31B | +28% | +4% | 2% | 15.5× | 17.6% |
| Autotrader AUTO.L | $5.68B | +12% | +4% | 62% | 14.3× | -0.7% |
| CarGurus CARG | $3.01B | -3% | +6% | 26% | 12.1× | 2.7% |
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 | 2518.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +4.9% | -6.0% | 3rd highest of 8 |
| 6-month return | +21.1% | -4.6% | highest of 8 |
| Distance from 52-week high | -25.8% | -26.8% | 4th highest of 8 |
| Revenue growth (TTM) | -22.2% | +6.0% | 2nd lowest of 8 |
| Operating margin | 0.0% | 17.4% | 3rd lowest of 8 |
| Forward P/E | 22.7× | 13.1× | most expensive of 7 |
| Growth the price implies (Req g, 7 yrs) | -15.3% | -2.1% | 2nd least demanding of 7 |
| Growth delivered (Del g) | -6.4% | +11.6% | lowest of 7 |
| Hurdle (Req g minus delivered) | -8.9 pp | -25.8 pp | 3rd most demanding of 7 |
| ROIC minus cost of capital | -8.9 pp | +19.3 pp | 3rd lowest of 7 |
| Net debt / EBITDA | -120.3× | -0.5× | least indebted of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Autohome 2518.HK | Hong Kong | $2.70B | +21% | -22% | 0% | 22.7× | -15.3% | -6.4% |
| China Ruyi 0136.HK | Hong Kong | $2.82B | -5% | -40% | -17% | 12.6× | 13.1% | +69.6% |
| NetEase Cloud Music 9899.HK | Hong Kong | $2.52B | -21% | +6% | 17% | 10.1× | -18.7% | +8.9% |
| RUM RUM | United States | $2.44B | -41% | +13% | -101% | n/a | n/a | n/a |
| CarGurus CARG | United States | $3.01B | -3% | +6% | 26% | 12.1× | 2.7% | +10.5% |
| Grindr GRND | United States | $2.35B | -10% | +32% | 31% | 19.7× | -6.0% | +31.1% |
| Cyber Agent 4751.T | Japan | $4.13B | +3% | +14% | 10% | 15.4× | -11.3% | +12.8% |
| Match MTCH | United States | $8.88B | +6% | 0% | 30% | 13.6× | 1.8% | +7.8% |