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Singapore-listed trust owning container port operations in Hong Kong and Shenzhen through the CK Hutchison group.
Singapore-listed trust owning container port operations in Hong Kong and Shenzhen through the CK Hutchison group.
Earns handling fees for every container moved through its terminals and passes most cash to unitholders as distributions, so results follow throughput at the Hong Kong and Yantian ports and tariff rates. It is a business trust, which pays out most of its cash.
In one line: A Hong Kong/Shenzhen container port operator trust (CK Hutchison group).
Moat: narrow (installed base, regulatory licence). Long-term port concession/terminal infrastructure with high barriers to new port construction.
Headquarters: Hong Kong · Founded: 2011
Size Hutchison Port Holdings Trust (NS8U.SI) is a Singapore Industrials company (Other Transportation) with a market value of $1.96B, the 50th largest of 186 Singapore companies the cockpit tracks. Shares closed at S$0.23 on 6 Nov 2026.
Performance Over six months the shares gained 7.1%, against -3.4% for the median peer and -1.2% for the Singapore market (cap-weighted) — 5th highest of 21 in its peer set.
Growth Revenue grew 4.6% over the last twelve months (peer median +4.0%); the operating margin is 42.1% (peer median 15.7%).
Valuation It trades at 15.3× forward earnings against a peer median of 12.2× (6th most expensive of 17).
Price implies For today's price to make sense, revenue must grow about -11% a year for seven years (Req g). Recent delivered growth is +2%, so the hurdle is -12 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.6 points above its cost of capital (5.0% WACC).
Next results Next results expected around 10 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | S$1.56B | S$1.49B | S$1.44B | S$1.31B | S$1.55B |
| Revenue growth | — | +4% | +10% | -15% | — |
| Gross profit | S$686M | S$628M | S$582M | S$447M | S$768M |
| EBITDA | S$1.01B | S$929M | S$879M | S$755M | S$748M |
| Net income | S$125M | S$96.0M | S$83.3M | S$29.8M | S$140M |
| Free cash flow | S$639M | S$613M | S$561M | S$489M | S$716M |
| Capital expenditure | S$64.6M | S$57.1M | S$47.5M | S$63.1M | S$65.3M |
| Total debt | n/a | S$3.13B | S$3.25B | S$3.30B | S$3.48B |
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 |
|---|---|---|---|---|---|---|
| Hutchison Port Holdings Trust NS8U.SI | $1.96B | +7% | +5% | 42% | 15.3× | -10.5% |
| COSCO SHIPPING Ports 1199.HK | $3.32B | +18% | +12% | 14% | 8.5× | 8.7% |
| China Merchants Port 0144.HK | $8.93B | +5% | +14% | 38% | 9.3× | 4.1% |
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 | NS8U.SI | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +4.7% | -0.9% | 4th highest of 21 |
| 6-month return | +7.1% | -3.4% | 5th highest of 21 |
| Distance from 52-week high | -2.2% | -17.6% | 3rd highest of 21 |
| Revenue growth (TTM) | +4.6% | +4.0% | 10th highest of 21 |
| Operating margin | 42.1% | 15.7% | 2nd highest of 21 |
| Forward P/E | 15.3× | 12.2× | 6th most expensive of 17 |
| Growth the price implies (Req g, 7 yrs) | -10.5% | -3.2% | 4th least demanding of 14 |
| Growth delivered (Del g) | +1.7% | +5.4% | 3rd lowest of 14 |
| Hurdle (Req g minus delivered) | -12.2 pp | -12.3 pp | 7th most demanding of 14 |
| ROIC minus cost of capital | +1.6 pp | +0.7 pp | 9th highest of 21 |
| EV / EBITDA | 5.8× | 12.1× | 3rd cheapest of 13 |
| Net debt / EBITDA | 1.9× | 1.8× | 7th least indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Hutchison Port Holdings Trust NS8U.SI | Singapore | $1.96B | +7% | +5% | 42% | 15.3× | -10.5% | +1.7% |
| Westshore Terminals Investment WTE.TO | Canada | $1.90B | +16% | -16% | 33% | 26.3× | 11.9% | -2.6% |
| NANKAI 9044.T | Japan | $2.03B | 0% | +7% | 15% | 13.1× | n/a | n/a |
| Tianjin Port 600717.SS | China | $1.89B | -2% | -8% | 18% | n/a | -14.6% | -1.6% |
| Hainan Strait Shipping 002320.SZ | China | $1.88B | -34% | +4% | 23% | 70.1× | -0.5% | +36.7% |
| Shenzhen Airport 000089.SZ | China | $2.08B | -5% | +5% | 17% | 14.2× | -6.4% | +11.4% |
| Comfortdelgro C52.SI | Singapore | $2.19B | -10% | +9% | 9% | 15.0× | -8.2% | +9.3% |
| Hamburger Hafen und Logistik HHFA.DE | Germany | $1.72B | -2% | +3% | 7% | n/a | n/a | n/a |
| Evergreen Aviation Technologies 2645.TW | Taiwan | $1.67B | -8% | +10% | 17% | 16.2× | -1.0% | +11.2% |
| Nagoya Railroad 9048.T | Japan | $2.38B | +8% | -2% | 5% | 11.0× | n/a | n/a |
| FirstGroup FGP.L | United Kingdom | $1.60B | +40% | -6% | 5% | 11.4× | -7.6% | +1.9% |
| Dongguan Development (Holdings) 000828.SZ | China | $1.57B | -3% | -4% | 39% | 10.7× | 0.7% | +4.4% |
| Sotetsu 9003.T | Japan | $1.55B | -4% | +9% | 13% | 10.1× | n/a | n/a |
| SIA Engineering S59.SI | Singapore | $2.51B | -10% | -3% | 3% | 17.7× | 19.3% | +26.3% |
| Shreeji Shipping Global SHREEJISPG.NS | India | $1.53B | +111% | +21% | 24% | n/a | n/a | n/a |
| Fujian Expressway Development 600033.SS | China | $1.51B | +1% | -3% | 47% | n/a | -16.1% | +5.6% |
| Shenzhen International 0152.HK | Hong Kong | $1.49B | -35% | +15% | 11% | 6.1× | n/a | n/a |
| Xiamen Xiangyu 600057.SS | China | $2.59B | -14% | +9% | 1% | 8.7× | n/a | n/a |
| Henan Zhongyuan Expressway 600020.SS | China | $1.43B | +5% | -11% | 20% | 9.4× | 5.9% | +5.4% |
| Qinhuangdao Port 601326.SS | China | $2.70B | -5% | +2% | 23% | 10.3× | -10.9% | +2.7% |
| Kamigumi 9364.T | Japan | $2.71B | -12% | +5% | 12% | 15.5× | -3.2% | +1.9% |