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Chinese digital marketing and social-media advertising services provider for brands.
Chinese digital marketing and social-media advertising services provider for brands.
In one line: A small China Trade Desk/agency hybrid.
Moat: none (distribution). Agency-model advertising business with limited proprietary technology moat versus platform-owned ad tools.
Headquarters: Guangzhou, China · Employees: 1,737
Size Marketingforce Management (2556.HK) is a Hong Kong Communication Services company (Advertising/Marketing Services) with a market value of $1.53B, the 485th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$43.12 on 6 Nov 2026.
Performance Over six months the shares gained 9.8%, against -9.8% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 4th highest of 21 in its peer set.
Growth Revenue grew 128.2% over the last twelve months (peer median +6.1%); the operating margin is 6.2% (peer median 0.8%).
Valuation It trades at 24.2× forward earnings against a peer median of 17.1× (6th most expensive of 13).
Price implies For today's price to make sense, revenue must grow about 17% a year for seven years (Req g). Recent delivered growth is +39%, so the hurdle is -22 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 5.8 points above its cost of capital (7.7% WACC).
Next results Next results expected around 5 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$4.30B | HK$3.06B | HK$1.69B | HK$1.36B | HK$1.33B |
| Revenue growth | — | +81% | +24% | +2% | — |
| Gross profit | HK$1.81B | HK$1.28B | HK$895M | HK$677M | HK$548M |
| EBITDA | HK$328M | HK$134M | HK$4.85M | HK$36.6M | -HK$95.7M |
| Net income | HK$291M | HK$96.5M | -HK$951M | -HK$187M | -HK$252M |
| Free cash flow | HK$598M | -HK$789M | HK$79.9M | -HK$165M | HK$25.5M |
| Capital expenditure | HK$30.8M | HK$12.6M | HK$11.0M | HK$18.4M | HK$46.2M |
| Total debt | n/a | HK$2.12B | HK$1.18B | HK$2.19B | HK$1.93B |
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 |
|---|---|---|---|---|---|---|
| Marketingforce Management 2556.HK | $1.53B | +10% | +128% | 6% | 24.2× | 16.6% |
| BlueFocus Intelligent Communications 300058.SZ | $6.98B | -24% | +6% | 0% | 123.3× | 58.3% |
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 | 2556.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -19.0% | +3.7% | 3rd lowest of 21 |
| 6-month return | +9.8% | -9.8% | 4th highest of 21 |
| Distance from 52-week high | -36.9% | -38.1% | 10th highest of 21 |
| Revenue growth (TTM) | +128.2% | +6.1% | 2nd highest of 21 |
| Operating margin | 6.2% | 0.8% | 6th highest of 20 |
| Forward P/E | 24.2× | 17.1× | 6th most expensive of 13 |
| Growth the price implies (Req g, 7 yrs) | 16.6% | 7.1% | 6th most demanding of 13 |
| Growth delivered (Del g) | +38.8% | +6.0% | 2nd highest of 13 |
| Hurdle (Req g minus delivered) | -22.2 pp | -4.8 pp | 3rd least demanding of 13 |
| ROIC minus cost of capital | +5.8 pp | -5.4 pp | 3rd highest of 20 |
| EV / EBITDA | 32.9× | 6.8× | most expensive of 7 |
| Net debt / EBITDA | -3.8× | -0.5× | least indebted of 8 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Marketingforce Management 2556.HK | Hong Kong | $1.53B | +10% | +128% | 6% | 24.2× | 16.6% | +38.8% |
| Hunan TV & Broadcast Intermediary 000917.SZ | China | $1.43B | -23% | -2% | 3% | n/a | 17.1% | -6.1% |
| Guangdong Advertising 002400.SZ | China | $1.72B | -27% | +11% | 0% | n/a | n/a | n/a |
| Sharplink SBET | United States | $1.36B | -16% | +1,497% | -19% | 80.5× | n/a | n/a |
| New Guomai Digital Culture 600640.SS | China | $1.35B | -8% | -11% | -2% | n/a | 57.0% | -16.4% |
| InMyShow Digital Technology (Group) 600556.SS | China | $1.33B | -17% | +25% | -2% | 492.0× | n/a | n/a |
| Three's Company Future Technology 605168.SS | China | $1.32B | -12% | +11% | 6% | 35.4× | 33.3% | +5.5% |
| CheilWorldwide 030000.KS | South Korea | $1.26B | -2% | -4% | 7% | 10.8× | -17.6% | +10.6% |
| ANYCOLOR 5032.T | Japan | $1.23B | +16% | +10% | 35% | 12.2× | -8.9% | +48.8% |
| Sunwave Communications 002115.SZ | China | $1.21B | -35% | +102% | 1% | n/a | 26.1% | +6.5% |
| Guangdong Guangzhou Daily Media 002181.SZ | China | $1.96B | -32% | 0% | -6% | n/a | n/a | n/a |
| QuinStreet QNST | United States | $1.18B | +58% | +18% | 3% | 12.3× | 9.8% | +17.5% |
| Havas HAVAS.AS | Netherlands | $1.99B | +10% | +1% | 9% | 8.2× | -8.4% | +1.8% |
| Trump Media & Technology DJT | United States | $1.11B | -55% | +22% | -4,052% | n/a | n/a | n/a |
| Stroeer SE & Co. KGaA SAX.DE | Germany | $2.41B | -1% | +3% | 11% | 13.3× | 4.5% | +7.5% |
| China Tourism And Culture Investment 600358.SS | China | $911M | -11% | +125% | n/a | n/a | n/a | n/a |
| Inly Media 603598.SS | China | $865M | +4% | +9% | 0% | 79.8× | n/a | n/a |
| Guangdong Yowant Technology 002291.SZ | China | $786M | -15% | -22% | -15% | 40.6× | 36.3% | +9.0% |
| Hakuhodo Dy 2433.T | Japan | $3.05B | +34% | -6% | 5% | 20.9× | -2.8% | +3.8% |
| Hubei Century Network Technology 300494.SZ | China | $766M | -5% | -7% | -6% | n/a | n/a | n/a |
| Criteo CRTO | United States | $756M | -6% | -7% | 8% | 4.1× | -19.8% | -1.3% |