0823.HK
Company Description
Link Real Estate Investment Trust (Hong Kong stock code: 823), managed by Link Asset Management Limited, is a leading retail-focused REIT in the world and Asia's largest REIT in terms of market capitalisation. Listed in 2005 as the first REIT in Hong Kong, Link has been 100% held by public and institutional investors and is a Hang Seng Index constituent stock. From its home in Hong Kong, Link manages a diversified portfolio including retail facilities, car parks and offices spanning Hong Kong, Beijing, Guangzhou, Shanghai, Shenzhen, London and Sydney. Link seeks to extend its portfolio growth trajectory and grasp expansion opportunities in different markets in pursuit of our medium-term target Vision 2025.
Track Record
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 14.22B | 13.58B | 12.34B | 11.69B | 10.87B | 10.90B | 10.04B | 10.02B | 9.26B | 8.74B | 7.72B | 7.16B |
| Net Income | (8.86B) | (1.98B) | 15.45B | 6.89B | 1.19B | (17.12B) | 20.33B | 47.76B | 17.71B | 16.30B | 27.23B | 17.30B |
| EPS | -3.45 | -0.77 | 7.09 | 3.20 | 0.56 | -7.94 | 9.56 | 21.69 | 7.93 | 7.19 | 11.83 | 7.51 |
| Free Cash Flow | 8.94B | 8.40B | (11.17B) | (3.20B) | (478.00M) | 5.31B | 5.89B | 4.45B | 4.56B | 5.66B | N/A | N/A |
| FCF / Share | 3.48 | 3.28 | -5.12 | -1.49 | -0.22 | 2.46 | 2.77 | 2.02 | 2.04 | 2.50 | N/A | N/A |
| Operating CF | 9.01B | 8.48B | 6.27B | 5.84B | 6.29B | 5.89B | 5.94B | 6.49B | 6.08B | 5.68B | N/A | N/A |
| Total Assets | 229.18B | 252.31B | 268.16B | 225.90B | 210.06B | 207.62B | 226.94B | 216.40B | 175.94B | 163.45B | N/A | N/A |
| Total Debt | 52.93B | 59.29B | 69.10B | 53.61B | 42.48B | 38.38B | 27.77B | 28.68B | 30.11B | 29.36B | N/A | N/A |
| Cash & Equiv | 3.12B | 7.18B | 14.14B | 2.78B | 2.53B | 7.88B | 2.69B | 3.16B | 535.00M | 336.00M | N/A | N/A |
| Book Value | 163.47B | 178.82B | 188.94B | 162.69B | 158.72B | 159.71B | 188.74B | 178.59B | 138.24B | 127.39B | N/A | N/A |
| Return on Equity | -0.05 | -0.01 | 0.08 | 0.04 | 0.01 | -0.11 | 0.11 | 0.27 | 0.13 | 0.13 | N/A | N/A |
| Metric | Q2 2026 | Q4 2025 | Q2 2025 | Q4 2024 | Q2 2024 | Q4 2023 | Q2 2023 | Q4 2022 | Q2 2022 | Q4 2021 | Q2 2021 | Q4 2020 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 7.06B | 7.09B | 7.33B | 6.62B | 7.00B | 6.26B | 6.08B | 5.87B | 5.82B | 5.57B | 5.30B | 5.47B |
| Net Income | (1.61B) | (5.18B) | (3.68B) | 1.39B | 2.54B | 2.55B | 2.17B | 2.17B | 2.15B | 2.12B | 2.12B | 2.12B |
| EPS | -0.62 | -2.01 | -1.44 | 0.54 | 2540413467.00 | 4869658553.00 | 2179453574.00 | 1.02 | 1.02 | 1.02 | 1.03 | 1.02 |
| Free Cash Flow | 3.60B | 4.61B | 3.40B | 2.17B | 2.76B | (10.62B) | (543.00M) | (3.35B) | 152.00M | 3.53B | 2.72B | 2.46B |
| FCF / Share | 1.39 | 1.79 | 1.33 | 0.84 | 1.09 | -4.71 | -0.26 | -1.57 | 0.07 | 1.70 | 1.32 | 1.18 |
| Operating CF | 3.62B | 4.61B | 3.44B | 4.44B | 3.25B | 3.05B | 3.21B | 3.16B | 2.67B | 3.54B | 2.74B | 2.85B |
| Total Assets | 225.98B | 229.18B | 241.21B | 252.54B | 253.69B | 268.16B | 238.69B | 225.90B | 217.90B | 210.06B | 203.19B | 207.62B |
| Total Debt | 54.53B | 52.93B | 54.95B | 63.20B | 62.94B | 69.10B | 58.21B | 53.61B | 46.36B | 42.48B | 39.82B | 38.38B |
| Cash & Equiv | 3.09B | 3.12B | 2.74B | 7.50B | 3.45B | 14.14B | 2.10B | 2.78B | 2.06B | 2.53B | 1.81B | 7.88B |
| Book Value | 158.31B | 163.47B | 172.13B | 178.82B | 181.17B | 188.94B | 170.57B | 162.69B | 163.04B | 158.72B | 153.85B | 159.71B |
| Return on Equity | -0.01 | -0.03 | -0.02 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |