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Hong Kong Exchanges and Clearing stock: key metrics
0388.HKHong Kong Exchanges and Clearing had an operating margin of 73.1% and a return on invested capital (ROIC) of 5.6% in fiscal 2025.
Margins show how much of revenue is left over, returns on capital how hard the invested money works.
Daily figure as of 13 Nov 2026
Margins
- Gross margin
- Operating margin
- Net margin
Figures as a table
| Year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| 2006 | 100.0% | 70.8% | 60.7% |
| 2007 | 100.0% | 97.6% | 86.3% |
| 2008 | 85.3% | 90.4% | 79.1% |
| 2009 | 100.0% | 86.4% | 73.3% |
| 2010 | 100.0% | 83.9% | 71.0% |
| 2011 | 81.9% | 82.0% | 69.2% |
| 2012 | 77.0% | 79.2% | 63.5% |
| 2013 | 74.9% | 66.9% | 56.0% |
| 2014 | 75.6% | 68.4% | 56.6% |
| 2015 | 79.3% | 76.8% | 65.0% |
| 2016 | 75.6% | 66.3% | 55.5% |
| 2017 | 76.6% | 75.7% | 64.0% |
| 2018 | 78.6% | 77.1% | 65.3% |
| 2019 | 75.4% | 82.7% | 69.2% |
| 2020 | 78.0% | 79.9% | 68.3% |
| 2021 | 83.1% | 76.6% | 64.4% |
| 2022 | 78.5% | 69.2% | 59.5% |
| 2023 | 74.2% | 86.7% | 76.8% |
| 2024 | 74.6% | 85.8% | 75.2% |
| 2025 | 85.0% | 73.1% | 60.9% |
Returns on capital
- ROE
- ROIC
- ROA
Figures as a table
| Year | ROE | ROIC | ROA |
|---|---|---|---|
| 2006 | 47.9% | 35.5% | 6.2% |
| 2007 | 73.6% | 70.1% | 7.0% |
| 2008 | 70.3% | 57.4% | 8.2% |
| 2009 | 58.6% | 58.9% | 10.4% |
| 2010 | 58.1% | 59.0% | 10.5% |
| 2011 | 55.6% | 56.8% | 9.4% |
| 2012 | 23.0% | 24.7% | 5.1% |
| 2013 | 22.3% | 17.5% | 5.3% |
| 2014 | 24.3% | 18.4% | 2.1% |
| 2015 | 26.7% | 25.3% | 3.3% |
| 2016 | 17.9% | 16.4% | 2.3% |
| 2017 | 19.9% | 19.5% | 2.3% |
| 2018 | 22.9% | 22.5% | 3.6% |
| 2019 | 21.3% | 21.0% | 3.4% |
| 2020 | 23.5% | 22.8% | 2.9% |
| 2021 | 25.3% | 23.5% | 3.1% |
| 2022 | 20.3% | 18.9% | 2.5% |
| 2023 | 23.1% | 22.1% | 3.5% |
| 2024 | 24.2% | 23.4% | 3.4% |
| 2025 | 30.5% | 5.6% | 3.1% |
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Currency
- Amounts in US dollars, converted at the ECB reference rate of 12 Nov 2026 ($1 = HK$7.8782)
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Neutral, published since 7 Nov 2026 (in the score history since 4 Sep 2026)
- Valuation signal Fairly valued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.