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Hong Kong Exchanges and Clearing is a vertically integrated securities exchange business offering listing, data, trading, clearing and settlement services across equities, debt and derivatives. HKEx, like Hong Kong itself, functions as a gateway between China and the rest of the world. HKEx serves as a preferred listing venue for Chinese companies outside of China and, through the Connect Scheme, offers two-way trading for a growing group of financial products with the Shanghai Stock Exchange and the Shenzhen Stock Exchange.
1999
2.6K+
LTM Revenue $3.0B
LTM EBITDA $2.2B
$24.8B
Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.
HKEX has a last 12-month revenue of $3.0B and a last 12-month EBITDA of $2.2B.
In the most recent fiscal year, HKEX achieved revenue of $2.2B and an EBITDA of $2.8B.
HKEX expects next 12-month revenue of XXX and NTM EBITDA of XXX
See HKEX valuation multiples based on analyst estimates| FY 2023 | FY 2024 | FY 2025 | LTM | NTM | |
|---|---|---|---|---|---|
| Revenue | $2.0B | $2.2B | XXX | XXX | XXX |
| Gross Profit | $1.7B | $1.5B | XXX | XXX | XXX |
| Gross Margin | 86% | 66% | XXX | XXX | XXX |
| EBITDA | $2.7B | $2.8B | XXX | XXX | XXX |
| EBITDA Margin | 135% | 128% | XXX | XXX | XXX |
| Net Profit | $1.3B | $1.5B | XXX | XXX | XXX |
| Net Margin | 65% | 68% | XXX | XXX | XXX |
| Net Debt | n/a | n/a | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
As of April 15, 2025, HKEX's stock price is HKD 334 (or $43).
HKEX has current market cap of HKD 422B (or $54.3B), and EV of HKD 193B (or $24.8B).
See HKEX trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $24.8B | $54.3B | XXX | XXX | XXX | XXX | $1.36 |
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Sign UpAs of April 15, 2025, HKEX has market cap of $54.3B and EV of $24.8B.
HKEX's trades at 8.3x LTM EV/Revenue multiple, and 11.4x LTM EBITDA.
Analysts estimate HKEX's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See valuation multiples for HKEX and 10K+ public comps| FY 2024 | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|
| EV | $24.8B | XXX | XXX | XXX |
| EV/Revenue | 11.1x | XXX | XXX | XXX |
| EV/EBITDA | 8.7x | XXX | XXX | XXX |
| P/E | 32.3x | XXX | XXX | XXX |
| P/E/Growth | 4.6x | XXX | XXX | XXX |
| EV/FCF | 17.2x | XXX | XXX | XXX |
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Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.
Sign UpHKEX's NTM/LTM revenue growth is 9%
HKEX's revenue per employee for the last fiscal year averaged $0.9M, while opex per employee averaged $0.1M for the same period.
Over next 12 months, HKEX's ratio of sales and marketing spend to revenue is estimated to be XXX , while its R&D spend to revenue to be XXX .
Analysts estimate HKEX's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See operational valuation multiples for HKEX and other 10K+ public comps| FY 2024 | NTM | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|---|
| Revenue Growth | 12% | XXX | XXX | XXX | XXX |
| EBITDA Margin | 128% | XXX | XXX | XXX | XXX |
| EBITDA Growth | 6% | XXX | XXX | XXX | XXX |
| Rule of 40 (SaaS-only) | 137% | XXX | XXX | XXX | XXX |
| Revenue per Employee | $0.9M | XXX | XXX | XXX | XXX |
| Opex per Employee | $0.1M | XXX | XXX | XXX | XXX |
| S&M Expenses to Revenue | 1% | XXX | XXX | XXX | XXX |
| G&A Expenses to Revenue | 1% | XXX | XXX | XXX | XXX |
| R&D Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| Opex to Revenue | 17% | XXX | XXX | XXX | XXX |
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Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| ASX | XXX | XXX | XXX | XXX | XXX | XXX |
| Euroxx Securities | XXX | XXX | XXX | XXX | XXX | XXX |
| Athens Exchange Group | XXX | XXX | XXX | XXX | XXX | XXX |
| Cboe Global Markets | XXX | XXX | XXX | XXX | XXX | XXX |
| Indian Energy Exchange | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
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HKEX acquired XXX companies to date.
Last acquisition by HKEX was XXXXXXXX, XXXXX XXXXX XXXXXX . HKEX acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| Acquired Company | EV | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
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Sign Up| When was HKEX founded? | HKEX was founded in 1999. |
| Where is HKEX headquartered? | HKEX is headquartered in Hong Kong. |
| How many employees does HKEX have? | As of today, HKEX has 2.6K+ employees. |
| Who is the CEO of HKEX? | HKEX's CEO is Ms. Bonnie Y. Chan. |
| Is HKEX publicy listed? | Yes, HKEX is a public company listed on HKG. |
| What is the stock symbol of HKEX? | HKEX trades under 00388 ticker. |
| When did HKEX go public? | HKEX went public in 2000. |
| Who are competitors of HKEX? | Similar companies to HKEX include e.g. ASX, Euroxx Securities, Athens Exchange Group, Cboe Global Markets. |
| What is the current market cap of HKEX? | HKEX's current market cap is $54.3B |
| What is the current revenue of HKEX? | HKEX's last 12-month revenue is $3.0B. |
| What is the current EBITDA of HKEX? | HKEX's last 12-month EBITDA is $2.2B. |
| What is the current EV/Revenue multiple of HKEX? | Current revenue multiple of HKEX is 8.3x. |
| What is the current EV/EBITDA multiple of HKEX? | Current EBITDA multiple of HKEX is 11.4x. |
| What is the current revenue growth of HKEX? | HKEX revenue growth between 2023 and 2024 was 12%. |
| Is HKEX profitable? | Yes, HKEX is EBITDA-positive (as of the last 12 months). |
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