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Maker of infant diapers, training pants and feminine hygiene products focused on Africa, Latin America and Central Asia.
Maker of infant diapers, training pants and feminine hygiene products focused on Africa, Latin America and Central Asia.
In one line: An emerging-markets Kimberly-Clark, Africa-focused.
Moat: narrow (brand, distribution, scale). Roughly #2 share in Africa's diaper and sanitary-napkin markets, built on distribution across many emerging markets.
Headquarters: Hong Kong / Africa operations · Employees: 2,906
Size Softcare (2698.HK) is a Hong Kong Consumer Staples company (Household/Personal Care) with a market value of $2.20B, the 397th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$27.80 on 6 Nov 2026.
Performance Over six months the shares fell 4.7%, against -4.7% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 11th highest of 21 in its peer set.
Growth Revenue grew 24.8% over the last twelve months (peer median +3.7%); the operating margin is 25.2% (peer median 10.1%).
Valuation It trades at 14.4× forward earnings against a peer median of 20.4× (6th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 9% a year for seven years (Req g). Recent delivered growth is +21%, so the hurdle is -12 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 35.0 points above its cost of capital (11.6% WACC).
Next results Next results expected around 22 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | n/a | HK$4.42B | HK$3.55B | HK$3.22B | HK$2.50B |
| Revenue growth | — | +25% | +10% | +29% | — |
| Gross profit | n/a | HK$1.59B | HK$1.25B | HK$1.12B | HK$571M |
| EBITDA | n/a | HK$1.13B | HK$974M | HK$807M | HK$338M |
| Net income | n/a | HK$945M | HK$742M | HK$506M | HK$144M |
| Free cash flow | n/a | HK$504M | HK$598M | HK$676M | -HK$194M |
| Capital expenditure | n/a | HK$408M | HK$256M | HK$67.6M | HK$246M |
| Total debt | n/a | HK$165M | HK$18.9M | HK$754M | HK$1.33B |
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 |
|---|---|---|---|---|---|---|
| Softcare 2698.HK | $2.20B | -5% | +25% | 25% | 14.4× | 8.7% |
| Hengan Int'l 1044.HK | $3.28B | -16% | +2% | 11% | 9.1× | -8.8% |
| Kimberly-Clark KMB | $66.5B | +12% | -12% | 14% | 15.3× | 4.1% |
| Procter & Gamble PG | $383B | +13% | +4% | 24% | 23.4× | -0.3% |
| Unicharm 8113.T | $12.1B | +15% | 0% | 12% | 24.5× | -2.0% |
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 | 2698.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +7.9% | +2.4% | 5th highest of 21 |
| 6-month return | -4.7% | -4.7% | 11th highest of 21 |
| Distance from 52-week high | -24.5% | -29.5% | 10th highest of 21 |
| Revenue growth (TTM) | +24.8% | +3.7% | 2nd highest of 21 |
| Operating margin | 25.2% | 10.1% | 3rd highest of 21 |
| Forward P/E | 14.4× | 20.4× | 6th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 8.7% | -0.9% | 5th most demanding of 18 |
| Growth delivered (Del g) | +20.9% | +3.6% | 3rd highest of 18 |
| Hurdle (Req g minus delivered) | -12.1 pp | -3.2 pp | 5th least demanding of 18 |
| ROIC minus cost of capital | +35.0 pp | +5.3 pp | 4th highest of 21 |
| EV / EBITDA | 12.5× | 11.1× | 5th most expensive of 13 |
| Net debt / EBITDA | -2.8× | -0.8× | 3rd least indebted of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Softcare 2698.HK | Hong Kong | $2.20B | -5% | +25% | 25% | 14.4× | 8.7% | +20.9% |
| KOSE 4922.T | Japan | $2.16B | +7% | +3% | 4% | 27.2× | n/a | n/a |
| Cosmax 192820.KS | South Korea | $2.13B | +21% | +16% | 8% | 16.6× | n/a | n/a |
| Procter & Gamble Hygiene & Health Care PGHH.NS | India | $2.40B | -29% | -2% | 24% | 27.3× | 15.4% | +7.4% |
| Pola Orbis 4927.T | Japan | $1.96B | +8% | +1% | 10% | 28.8× | -3.1% | -0.7% |
| LG H&h 051900.KS | South Korea | $2.56B | -8% | -3% | 3% | 18.5× | -0.1% | -4.1% |
| Gillette India GILLETTE.NS | India | $2.56B | -7% | +8% | 28% | 33.0× | 16.0% | +13.0% |
| Kolmar Korea 161890.KS | South Korea | $1.89B | +23% | +13% | 10% | 13.0× | -0.9% | +15.5% |
| Blue Moon 6993.HK | Hong Kong | $1.88B | -15% | -2% | -2% | 93.6× | n/a | n/a |
| Yunnan Botanee Bio-Technology 300957.SZ | China | $1.84B | -28% | +7% | 9% | 21.2× | 4.5% | +15.3% |
| Winner Medical 300888.SZ | China | $2.69B | -2% | +4% | 11% | 20.9× | -4.3% | -2.6% |
| Emami EMAMILTD.NS | India | $1.80B | -15% | +3% | 20% | 21.4× | 21.7% | +5.6% |
| Giant Biogene 2367.HK | Hong Kong | $2.76B | -34% | -10% | 32% | 9.7× | -8.0% | +34.9% |
| Shanghai Jahwa United 600315.SS | China | $1.74B | -13% | +9% | 2% | 18.1× | 17.1% | -2.1% |
| Pigeon 7956.T | Japan | $1.66B | +30% | +7% | 13% | 26.3× | -1.3% | +1.9% |
| Energizer ENR | United States | $1.63B | +26% | +2% | 16% | 7.2× | -5.2% | +1.5% |
| Proya Cosmetics 603605.SS | China | $2.97B | -19% | +2% | 13% | 11.1× | -4.8% | +23.1% |
| Harbin Fuerjia Technology 301371.SZ | China | $1.58B | -30% | +28% | 20% | 22.5× | 8.7% | +3.6% |
| AMOREPACIFIC 002790.KS | South Korea | $1.55B | -3% | +9% | 9% | 8.4× | -17.9% | -1.3% |
| Lion 4912.T | Japan | $3.19B | +21% | +6% | 8% | 19.9× | -2.4% | +3.5% |
| Intercos ICOS.MI | Italy | $1.50B | +16% | -5% | 9% | 19.5× | 4.5% | +11.5% |