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MTR Corporation LimitedSEHK:66 Stock Report

Market Cap HK$166.5b
Share Price
HK$26.74
My Fair Value
HK$27.86
4.0% undervalued intrinsic discount
1Y-2.4%
7D0.2%
Portfolio Value
​
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MTR Corporation Limited

SEHK:66 Stock Report

Market Cap: HK$166.5b

MTR (66) Stock Overview

Engages in railway design, construction, operation, maintenance, and investment in Hong Kong, Australia, Mainland China, Macao, Sweden, and the United Kingdom. More details

66 fundamental analysis
Snowflake Score
Valuation2/6
Future Growth0/6
Past Performance5/6
Financial Health3/6
Dividends3/6

Rewards

Price-To-Earnings ratio (9.5x) is below the Hong Kong market (12.4x)

Earnings grew by 80.9% over the past year

Risk Analysis

Earnings are forecast to decline by an average of 9.7% per year for the next 3 years

Dividend of 4.9% is not well covered by free cash flows


66 Community Fair Values

Create Narrative

See what 8 others think this stock is worth. Follow their fair value or set your own to get alerts.

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MTR

Falling Demand And Rising CapEx Will Crush HK Margins

Key Takeaways Lasting shifts in commuter behavior, demographics, and alternative transport threaten MTR's fare revenue, ridership growth, and ancillary income streams. Elevated costs and adverse policy and property trends put margin pressure on core operations, challenging the ability to offset expenses through traditional property development.
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HK$22
FV
21.5% overvalued intrinsic discount
-1.25%
Revenue growth p.a.
0users have liked this narrative
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0users have followed this narrative
7 days ago author updated this narrative
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MTR

Urban Growth And Tech Will Fuel Rail Progress Despite Risks

Key Takeaways Urban growth and major property projects will enhance recurring earnings and support long-term top-line growth through increased ridership and high-margin property completions. Technology adoption, environmental alignment, and international expansion will drive efficiency, revenue diversification, and sustained pipeline growth beyond the core Hong Kong market.
View narrative
HK$32
FV
16.4% undervalued intrinsic discount
5.06%
Revenue growth p.a.
0users have liked this narrative
0users have commented on this narrative
0users have followed this narrative
7 days ago author updated this narrative
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MTR

Excessive HK Investments Will Erode Margins And Earnings

Key Takeaways Mounting capital investments and operational complexities may pressure profitability if passenger growth and fares fail to meet optimistic expectations. Heavy reliance on property development profits exposes earnings to volatility from Hong Kong's housing market and demographic shifts.
View narrative
HK$27.57
FV
3.0% undervalued intrinsic discount
3.29%
Revenue growth p.a.
0users have liked this narrative
0users have commented on this narrative
5users have followed this narrative
13 days ago author updated this narrative
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MTR Corporation Limited Competitors

Price History & Performance

Summary of share price highs, lows and changes for MTR
Historical stock prices
Current Share PriceHK$26.70
52 Week HighHK$30.65
52 Week LowHK$23.80
Beta0.50
1 Month Change-2.20%
3 Month Change-1.66%
1 Year Change-2.38%
3 Year Change-33.33%
5 Year Change-34.07%
Change since IPO130.17%

Recent News & Updates

MTR's (HKG:66) Dividend Will Be HK$0.42

Aug 19
MTR's (HKG:66) Dividend Will Be HK$0.42

MTR Corporation Limited Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Predictions

Aug 18
MTR Corporation Limited Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Predictions

Recent updates

MTR's (HKG:66) Dividend Will Be HK$0.42

Aug 19
MTR's (HKG:66) Dividend Will Be HK$0.42

MTR Corporation Limited Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Predictions

Aug 18
MTR Corporation Limited Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Predictions

There's Reason For Concern Over MTR Corporation Limited's (HKG:66) Price

Jul 21
There's Reason For Concern Over MTR Corporation Limited's (HKG:66) Price

Is Now The Time To Put MTR (HKG:66) On Your Watchlist?

Jun 30
Is Now The Time To Put MTR (HKG:66) On Your Watchlist?

Is MTR (HKG:66) A Risky Investment?

Jun 14
Is MTR (HKG:66) A Risky Investment?

This Is Why MTR Corporation Limited's (HKG:66) CEO Compensation Looks Appropriate

May 14
This Is Why MTR Corporation Limited's (HKG:66) CEO Compensation Looks Appropriate

MTR (HKG:66) Has Affirmed Its Dividend Of HK$0.89

May 12
MTR (HKG:66) Has Affirmed Its Dividend Of HK$0.89

MTR (HKG:66) Will Pay A Dividend Of HK$0.89

Apr 10
MTR (HKG:66) Will Pay A Dividend Of HK$0.89
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Heavy Railway Investments Will Compress Future Net Margins

Large financial commitments toward railway expansion and asset maintenance may pressure net margins and limit future revenue generation.

MTR (HKG:66) Has Affirmed Its Dividend Of HK$0.89

Mar 09
MTR (HKG:66) Has Affirmed Its Dividend Of HK$0.89

Here's Why MTR (HKG:66) Has Caught The Eye Of Investors

Mar 07
Here's Why MTR (HKG:66) Has Caught The Eye Of Investors

Investors Still Waiting For A Pull Back In MTR Corporation Limited (HKG:66)

Jan 27
Investors Still Waiting For A Pull Back In MTR Corporation Limited (HKG:66)

There Are Reasons To Feel Uneasy About MTR's (HKG:66) Returns On Capital

Jan 06
There Are Reasons To Feel Uneasy About MTR's (HKG:66) Returns On Capital

MTR (HKG:66) Has A Somewhat Strained Balance Sheet

Nov 27
MTR (HKG:66) Has A Somewhat Strained Balance Sheet

Investors Interested In MTR Corporation Limited's (HKG:66) Earnings

Oct 04
Investors Interested In MTR Corporation Limited's (HKG:66) Earnings

Shareholder Returns

66HK TransportationHK Market
7D0.2%0.8%0.9%
1Y-2.4%3.5%49.7%

Return vs Industry: 66 underperformed the Hong Kong Transportation industry which returned 3.5% over the past year.

Return vs Market: 66 underperformed the Hong Kong Market which returned 49.7% over the past year.

Price Volatility

Is 66's price volatile compared to industry and market?
66 volatility
66 Average Weekly Movement2.1%
Transportation Industry Average Movement5.2%
Market Average Movement7.3%
10% most volatile stocks in HK Market15.7%
10% least volatile stocks in HK Market3.5%

Stable Share Price: 66 has not had significant price volatility in the past 3 months compared to the Hong Kong market.

Volatility Over Time: 66's weekly volatility (2%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
197530,800Jacob Kamwww.mtr.com.hk

MTR Corporation Limited engages in railway design, construction, operation, maintenance, and investment in Hong Kong, Australia, Mainland China, Macao, Sweden, and the United Kingdom. It operates through Hong Kong Transport Operations; Hong Kong Station Commercial Businesses; Hong Kong Property Rental and Management Businesses; Hong Kong Property Development; Mainland China and International Railway, Property Rental and Management Businesses; Mainland China Property Development; and Other Businesses segments. The company offers passenger operation and related services on the domestic mass transit railway system, the Airport Express, cross-boundary railway connection, light rail and bus feeder with railway system, and intercity railway transport.

MTR Corporation Limited Fundamentals Summary

How do MTR's earnings and revenue compare to its market cap?
66 fundamental statistics
Market capHK$166.45b
Earnings (TTM)HK$17.46b
Revenue (TTM)HK$58.10b
9.5x
P/E Ratio
2.9x
P/S Ratio

Is 66 overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
66 income statement (TTM)
RevenueHK$58.10b
Cost of RevenueHK$38.78b
Gross ProfitHK$19.32b
Other ExpensesHK$1.86b
EarningsHK$17.46b

Last Reported Earnings

Jun 30, 2025

Next Earnings Date

n/a

Earnings per share (EPS)2.81
Gross Margin33.25%
Net Profit Margin30.05%
Debt/Equity Ratio44.2%

How did 66 perform over the long term?

See historical performance and comparison

Dividends

4.9%
Current Dividend Yield
47%
Payout Ratio

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/09/17 16:03
End of Day Share Price 2025/09/17 00:00
Earnings2025/06/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

MTR Corporation Limited is covered by 30 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Manfred HoBOCI Research Ltd.
Karl ChoiBofA Global Research
Aaron HoCFRA Equity Research