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HashKey Holdings Ltd
HKEX:3887

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HashKey Holdings Ltd
HKEX:3887
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Price: 4.25 HKD -4.71% Market Closed
Market Cap: HK$11.8B

EV/EBIT

-9.6
Current
44%
Cheaper
vs 3-y average of -17

Enterprise Value to EBIT (EV/EBIT) ratio compares a company`s total enterprise value to its earnings before interest and taxes. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBIT
-9.6
=
Enterprise Value
HK$8.7B
/
EBIT
HK$-908.2m

Enterprise Value to EBIT (EV/EBIT) ratio compares a company`s total enterprise value to its earnings before interest and taxes. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBIT
-9.6
=
Enterprise Value
HK$8.7B
/
EBIT
HK$-908.2m

Valuation Scenarios

HashKey Holdings Ltd is trading above its industry average

If EV/EBIT returns to its Industry Average (15.2), the stock would be worth HK$-6.73 (258% downside from current price).

Statistics
Positive Scenarios
0/2
Maximum Downside
-258%
Maximum Upside
No Upside Scenarios
Average Downside
233%
Scenario EV/EBIT Value Implied Price Upside/Downside
Current Multiple -9.6 HK$4.25
0%
Industry Average 15.2 HK$-6.73
-258%
Country Average 10.3 HK$-4.55
-207%

Forward EV/EBIT
Today’s price vs future ebit

Today's Enterprise Value EBIT Forward EV/EBIT
HK$8.7B
/
Jan 2026
HK$-908.2m
=
-9.6
Current
HK$8.7B
/
Dec 2026
HK$-603.3m
=
-14.5
Forward
HK$8.7B
/
Dec 2027
HK$-197.3m
=
-44.2
Forward
HK$8.7B
/
Dec 2028
HK$354.8m
=
24.6
Forward

Forward EV/EBIT shows whether today’s EV/EBIT still looks high or low once future ebit are taken into account.

Peer Comparison

All Multiples
EV/EBIT
P/E
All Countries
Close
Market Cap EV/EBIT P/E
HK
HashKey Holdings Ltd
HKEX:3887
11.8B HKD -9.6 -10.8
US
S&P Global Inc
NYSE:SPGI
133.7B USD 21.6 29.9
US
CME Group Inc
NASDAQ:CME
103.4B USD 9.8 24.4
US
Intercontinental Exchange Inc
NYSE:ICE
89.8B USD 21.7 27.1
US
Moody's Corp
NYSE:MCO
81.2B USD 24.4 32.5
UK
London Stock Exchange Group PLC
LSE:LSEG
51B GBP 24.6 40.8
HK
Hong Kong Exchanges and Clearing Ltd
HKEX:388
522.6B HKD 22.8 29.2
DE
Deutsche Boerse AG
XETRA:DB1
48.6B EUR 17.7 24.3
US
Coinbase Global Inc
NASDAQ:COIN
53.5B USD 32.4 42.5
US
Nasdaq Inc
NASDAQ:NDAQ
51.2B USD 24.2 28.7
CN
East Money Information Co Ltd
SZSE:300059
314.3B CNY 16.8 26

Market Distribution

Lower than 100% of companies in Hong Kong
Percentile
0th
Based on 1 277 companies
0th percentile
-9.6
Low
0 — 5.4
Typical Range
5.4 — 15.8
High
15.8 —
Distribution Statistics
Hong Kong
Min 0
30th Percentile 5.4
Median 10.3
70th Percentile 15.8
Max 9 749.3

HashKey Holdings Ltd
Glance View

Market Cap
11.8B HKD
Industry
Financial Services

HashKey Holdings Ltd is a HK-based company operating in Capital Markets industry. The company employs 335 full-time employees The company went IPO on 2025-12-17. HashKey Holdings Ltd is an investment holding company principally engaged in the provision of digital asset financial services. The firm operates its business through three segments. The Transaction facilitation Services segment is engaged in the provision of transaction facilitation services covering digital asset exchange services, brokerage services and custody services. The On-Chain Services segment is engaged in the provision of on-chain services covering support of infrastructure and application layers of the digital asset ecosystem, including staking services and tokenisation services. The Asset Management Services segment is engaged in the provision of asset management services covering venture capital funds management, as well as secondary market liquid funds.

Intrinsic Value
4.5 HKD
Undervaluation 6%
Intrinsic Value
Price HK$4.25
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