# Orient Overseas International (0316.HK)

Canonical: https://gigainvestors.com/s/0316.HK

Analysis as of: 2026-10-16T07:35:19.982Z. Financial observations: FY1999–FY2025.

Listing currency: HKD. Reporting currency: USD.

## Verdict

Not a wonderful business

Quality tests for Buy: not passed (profit record: pass; earnings resilience is evidence only). Published buy qualification: no.

Share price: HKD 162.80 per share; close as of 2026-10-15.

Estimated value: low HKD 344.55 per share, central HKD 382.08 per share, high HKD 432.02 per share. Buy at or below the central value HKD 382.08 per share. Valuation as of 2026-10-16T07:35:19.982Z; scenarios are not confidence intervals.

Expected annual return: 28.3% at the stated quote. About 28.3% a year at today's price (required return 10.0%). required return 10.0% a year (10% floor; HK 10-year bond 4.0% + 4 points).

## Checklist

### understandable: fail

- 3 revenue declines in the last 10 years (informational)

- operating margin variation exceeds 0.35

- Financial history: 10 years

- Years with declining revenue: 3

- Years with a net loss: 1

- Operating margin variation: 0.99×

Chart: Operating margin; fiscal year observations.

- FY2016: -0.03×

- FY2017: 0.04×

- FY2018: 0.04×

- FY2019: 0.05×

- FY2020: 0.12×

- FY2021: 0.44×

- FY2022: 0.51×

- FY2023: 0.17×

- FY2024: 0.25×

- FY2025: 0.12×

### moat: fail

- ROIC worst years below threshold (more than 1 bad year allowed)

- ROIC, median of available years: 16.4%

- ROIC, second-lowest year: 2.5%

- Typical minus recent gross margin: -1.5 pp

- Typical gross margin (annual median): 15.3%

- Recent gross margin (lower of latest and 3-year median): 16.8%

- Years with nonpositive capital: 0

- Capital spending / revenue: 6.1%

- ROIC including acquisitions, ten-year median: 5.9%

Chart: ROIC excluding acquisitions; fiscal year observations.

- FY2016: -1.7%

- FY2017: 3.2%

- FY2018: 2.5%

- FY2019: 5.0%

- FY2020: 19.1%

- FY2021: >100%

- FY2022: >100%

- FY2023: 23.6%

- FY2024: 38.6%

- FY2025: 13.7%

### economics: pass

- Owner earnings / net income, 5-yr: 0.87×

- Cash conversion uses consolidated totals: No

- Owner earnings, five-year total: $20B

- Net income, five-year total: $23B

- Return on incremental invested capital: 40.6%

- Working capital / revenue, annual change: -0.2 pp

- Working capital / revenue, change between three-year averages: -1.5 pp

- Working capital / revenue, final three-year average: 4.6%

Chart: Annual owner cash / profit; fiscal year observations.

- FY2021: 0.93×

- FY2022: 0.99×

- FY2023: 0.40×

- FY2024: 0.89×

- FY2025: 0.16×

### management: pass

- Historical market-dollar context (not the management verdict): 2016 to 2025 (9 years)

- buybacks unrelated to price (informational)

- ROIC first 3 years vs last 3 years: 2.5% vs 23.6%

- Per-share earnings: 0.22 to 2.30 (three-year endpoint medians)

- Management verdict uses per-share economic progress: Yes

- Ordinary dilution, 10-year annual growth: 0.5%

- Ordinary dilution, 5-year annual growth: 1.1%

- Market cap gain: $8.0B

- Cumulative retained earnings: $8.4B

- Diluted shares, 10-year annual growth: 0.5%

- Diluted shares, 5-year annual growth: 1.1%

- $1 test, starting fiscal year: FY2016

- $1 test, ending fiscal year: FY2025

- Per-share value growth: 34.1%

- Per-share value change: $2.08

- Per-share value, starting three-year median: $0.22

- Per-share value, ending three-year median: $2.30

- Average buyback yield: 2.9%

- Buyback history: 1 years

- Debt-funded buybacks: No

- Acquisition spending: $54M

- Cumulative net income, 10 years: $24B

- ROIC, first three-year median: 2.5%

- ROIC, last three-year median: 23.6%

Chart: Earnings per share; fiscal year observations.

- FY2016: -$0.35

- FY2017: $0.22

- FY2018: $0.17

- FY2019: $0.25

- FY2020: $1.44

- FY2021: $10.96

- FY2022: $15.09

- FY2023: $2.07

- FY2024: $3.90

- FY2025: $2.30

### accounting: pass

- Sloan accruals: -4.6%

- Receivables to sales index (DSRI): 0.99×

- Restructuring years, last five: 0

- Stock compensation / operating cash flow: 0.0%

- Earnings backed by cash: Yes

- Operating cash / earnings: 1.54×

- Accounting red flags: 0

- Goodwill and intangibles / equity: 0.00×

Chart: Sloan accruals; fiscal year observations.

- FY2016: -3.1%

- FY2017: -2.3%

- FY2018: -3.4%

- FY2019: -4.5%

- FY2020: -9.4%

- FY2021: -11.2%

- FY2022: -6.4%

- FY2023: 4.8%

- FY2024: -3.6%

- FY2025: -4.6%

## Holders

## Price story

Down 40% since Jul 2022 · sales -9%

Story as of 2026-10-16T10:00:04.527Z; price observation 2026-10-15.

Price needs cash profits to shrink 14.9% a year for ten years

### Sales · FY2024–2025

sales -9%; source https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/; observed 2026-10-16.

- FY2016: $5.3B 

- FY2017: $6.1B 

- FY2018: $6.6B 

- FY2019: $6.9B 

- FY2020: $8.2B 

- FY2021: $17B 

- FY2022: $20B 

- FY2023: $8.3B 

- FY2024: $11B 

- FY2025: $9.7B 

### Gross margin · FY2025

gross margin 16.8%; source https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/; observed 2026-10-16.

- FY2016: 5.0% 

- FY2017: 9.4% 

- FY2018: 10.8% 

- FY2019: 11.8% 

- FY2020: 19.4% 

- FY2021: 48.6% 

- FY2022: 52.6% 

- FY2023: 13.8% 

- FY2024: 26.4% 

- FY2025: 16.8% 

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in marine shipping; annual sales are USD 9.7 billion.

- Source: https://eodhd.com/api/fundamentals/0316.HK.json#2025-12-31 (filed 2026-10-16T07:35:19.982Z); FY2025: revenue 9736876372; grossProfit 1633686123; margin = grossProfit / revenue.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); 0316.HK: Orient Overseas (International) Limited, an investment holding company, provides container transport and logistics services in Asia, Europe, North and South America, Australia, and Africa. It offers supply chain management services; containerized shipping services in various trade lanes comprising Trans-Pacific, Trans-Atlantic, Asia/Europe, Asia/ Australia, and Intra-Asia trades; and integrated services. The company is involved in shipping and logistics software application development; container transport, equipment owning and leasing, container depot and warehousing, portfolio investment, trucking, ship owning and chartering, terminal operating, cargo consolidation and forwarding, transportation and freight agency, liner agency, property owning, and ship management and vessels operation businesses; and provision of corporate services. In addition, it offers AI and blockchain digital data on network applications, and platform design services. The company was incorporated in 1986 and is based in Wan Chai, Hong Kong. Orient Overseas (International) Limited operates as a subsidiary of Faulkner Global Holdings Limited.

### Why customers stay

Margins ranged from 13.8% to 26.4% during 2023–25; it earns 16.4% on its capital.

- Source: https://eodhd.com/api/fundamentals/0316.HK.json#2023-12-31 (filed 2026-10-16T07:35:19.982Z); FY2023: grossProfit / revenue = 13.8%.

- Source: https://eodhd.com/api/fundamentals/0316.HK.json#2024-12-31 (filed 2026-10-16T07:35:19.982Z); FY2024: grossProfit / revenue = 26.4%.

- Source: https://eodhd.com/api/fundamentals/0316.HK.json#2025-12-31 (filed 2026-10-16T07:35:19.982Z); FY2025: grossProfit / revenue = 16.8%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:35:19.982Z); 10-year return on capital observations [[2016,-0.017381010969840897],[2017,0.03202040971603449],[2018,0.02541077653536428],[2019,0.04958908508868909],[2020,0.1908777432819592],[2021,1.4081477490547705],[2022,2.355063949944155],[2023,0.23588471198116912],[2024,0.3863993838900594],[2025,0.137177881973794]]; median 0.16402781262787658. ROIC follows the displayed moat series; financial companies use return on tangible equity.

### Where the cash goes

Paid dividends in 10 of 10 years.

- Source: https://eodhd.com/api/fundamentals/0316.HK.json#2017-12-31 (filed 2026-10-16T07:35:19.982Z); FY2017: growth capex 30604000; upkeep 439824000; owner earnings 137656000. Growth capex / owner earnings = 0.2223223106875109.

- Source: https://eodhd.com/api/fundamentals/0316.HK.json#2018-12-31 (filed 2026-10-16T07:35:19.982Z); FY2018: growth capex 86340000; upkeep 403701000; owner earnings 108166000. Growth capex / owner earnings = 0.7982175544995654.

- Source: https://eodhd.com/api/fundamentals/0316.HK.json#2020-12-31 (filed 2026-10-16T07:35:19.982Z); FY2020: growth capex 0; upkeep 369581000; owner earnings 578078400. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/api/fundamentals/0316.HK.json#2021-12-31 (filed 2026-10-16T07:35:19.982Z); FY2021: growth capex 10388000; upkeep 569732000; owner earnings 6640130400. Growth capex / owner earnings = 0.0015644271082387176.

- Source: https://eodhd.com/api/fundamentals/0316.HK.json#2022-12-31 (filed 2026-10-16T07:35:19.982Z); FY2022: growth capex 0; upkeep 524841000; cash acquisitions 0; owner earnings 9885356000. Growth capex plus acquisitions / owner earnings = 0.

- Source: https://eodhd.com/api/fundamentals/0316.HK.json#2023-12-31 (filed 2026-10-16T07:35:19.982Z); FY2023: growth capex 0; upkeep 1378086000; cash acquisitions 0; owner earnings 549775400. Growth capex plus acquisitions / owner earnings = 0.

- Source: https://eodhd.com/api/fundamentals/0316.HK.json#2024-12-31 (filed 2026-10-16T07:35:19.982Z); FY2024: growth capex 827225000; upkeep 434299000; cash acquisitions 49289000; owner earnings 2302801400. Growth capex plus acquisitions / owner earnings = 0.38062943682420897.

- Source: https://eodhd.com/api/fundamentals/0316.HK.json#2025-12-31 (filed 2026-10-16T07:35:19.982Z); FY2025: growth capex 0; upkeep 2016377397; cash acquisitions 0; owner earnings 239056486. Growth capex plus acquisitions / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:35:19.982Z); Dividend observations: [[2016,11604000],[2017,13388000],[2018,89859000],[2019,89859000],[2020,1198894000],[2021,3682084000],[2022,6141471000],[2023,3579223000],[2024,535563000],[2025,1349154841]]. Zero only counted when supported by a complete cash-flow statement.

### Are managers owners

Insiders own 80.1% of the company.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); 0316.HK SharesStats.PercentInsiders = 80.14 percentage points; cache date 2026-10-16.

### What the price says

The price assumes cash profits shrink 14.9% yearly over ten years; actual decline was 0.5%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:35:19.982Z); Ten-year compound average after fade. Initial solved rate -0.21930672568256337. Price 162.8; FX 7.84744565643883; discount 0.1; same standard ten-year fade to terminal 0.03. FY2015 owner earnings/share 0.37915892315829675 → FY2025 0.3620022108717346. Closing-price date 2026-10-15.

## Monthly share-price history (HKD per share)

- 2016-10: HKD 29.05 per share

- 2016-11: HKD 30.95 per share

- 2016-12: HKD 32.15 per share

- 2017-01: HKD 40.25 per share

- 2017-02: HKD 45.55 per share

- 2017-03: HKD 41.50 per share

- 2017-04: HKD 41.50 per share

- 2017-05: HKD 49.45 per share

- 2017-06: HKD 56.00 per share

- 2017-07: HKD 72.75 per share

- 2017-08: HKD 72.40 per share

- 2017-09: HKD 73.35 per share

- 2017-10: HKD 75.10 per share

- 2017-11: HKD 74.00 per share

- 2017-12: HKD 75.40 per share

- 2018-01: HKD 73.65 per share

- 2018-02: HKD 73.10 per share

- 2018-03: HKD 71.00 per share

- 2018-04: HKD 74.70 per share

- 2018-05: HKD 74.00 per share

- 2018-06: HKD 76.40 per share

- 2018-07: HKD 82.55 per share

- 2018-08: HKD 50.95 per share

- 2018-09: HKD 51.40 per share

- 2018-10: HKD 46.00 per share

- 2018-11: HKD 48.95 per share

- 2018-12: HKD 53.00 per share

- 2019-01: HKD 51.90 per share

- 2019-02: HKD 52.45 per share

- 2019-03: HKD 49.85 per share

- 2019-04: HKD 53.00 per share

- 2019-05: HKD 49.35 per share

- 2019-06: HKD 44.00 per share

- 2019-07: HKD 41.00 per share

- 2019-08: HKD 35.00 per share

- 2019-09: HKD 34.80 per share

- 2019-10: HKD 36.00 per share

- 2019-11: HKD 44.10 per share

- 2019-12: HKD 37.80 per share

- 2020-01: HKD 36.85 per share

- 2020-02: HKD 34.30 per share

- 2020-03: HKD 30.45 per share

- 2020-04: HKD 32.50 per share

- 2020-05: HKD 30.50 per share

- 2020-06: HKD 33.50 per share

- 2020-07: HKD 34.60 per share

- 2020-08: HKD 33.50 per share

- 2020-09: HKD 32.65 per share

- 2020-10: HKD 33.50 per share

- 2020-11: HKD 59.20 per share

- 2020-12: HKD 77.50 per share

- 2021-01: HKD 66.30 per share

- 2021-02: HKD 75.35 per share

- 2021-03: HKD 114.50 per share

- 2021-04: HKD 125.80 per share

- 2021-05: HKD 108.20 per share

- 2021-06: HKD 168.20 per share

- 2021-07: HKD 142.00 per share

- 2021-08: HKD 200.20 per share

- 2021-09: HKD 135.20 per share

- 2021-10: HKD 143.70 per share

- 2021-11: HKD 149.10 per share

- 2021-12: HKD 191.30 per share

- 2022-01: HKD 192.00 per share

- 2022-02: HKD 220.00 per share

- 2022-03: HKD 209.40 per share

- 2022-04: HKD 220.60 per share

- 2022-05: HKD 241.00 per share

- 2022-06: HKD 208.00 per share

- 2022-07: HKD 273.00 per share

- 2022-08: HKD 219.80 per share

- 2022-09: HKD 137.50 per share

- 2022-10: HKD 114.70 per share

- 2022-11: HKD 146.20 per share

- 2022-12: HKD 141.00 per share

- 2023-01: HKD 129.70 per share

- 2023-02: HKD 126.00 per share

- 2023-03: HKD 150.20 per share

- 2023-04: HKD 158.80 per share

- 2023-05: HKD 95.45 per share

- 2023-06: HKD 105.10 per share

- 2023-07: HKD 129.90 per share

- 2023-08: HKD 105.20 per share

- 2023-09: HKD 104.50 per share

- 2023-10: HKD 98.65 per share

- 2023-11: HKD 93.95 per share

- 2023-12: HKD 109.00 per share

- 2024-01: HKD 116.40 per share

- 2024-02: HKD 121.70 per share

- 2024-03: HKD 93.50 per share

- 2024-04: HKD 114.30 per share

- 2024-05: HKD 132.80 per share

- 2024-06: HKD 126.70 per share

- 2024-07: HKD 110.30 per share

- 2024-08: HKD 108.50 per share

- 2024-09: HKD 110.40 per share

- 2024-10: HKD 105.70 per share

- 2024-11: HKD 99.40 per share

- 2024-12: HKD 115.10 per share

- 2025-01: HKD 104.10 per share

- 2025-02: HKD 104.10 per share

- 2025-03: HKD 115.30 per share

- 2025-04: HKD 108.50 per share

- 2025-05: HKD 135.10 per share

- 2025-06: HKD 133.40 per share

- 2025-07: HKD 141.50 per share

- 2025-08: HKD 136.30 per share

- 2025-09: HKD 126.30 per share

- 2025-10: HKD 134.50 per share

- 2025-11: HKD 126.40 per share

- 2025-12: HKD 125.40 per share

- 2026-01: HKD 127.90 per share

- 2026-02: HKD 149.50 per share

- 2026-03: HKD 139.10 per share

- 2026-04: HKD 136.50 per share

- 2026-05: HKD 136.10 per share

- 2026-06: HKD 122.00 per share

- 2026-07: HKD 153.10 per share

- 2026-08: HKD 156.90 per share

- 2026-09: HKD 143.60 per share

- 2026-10: HKD 162.80 per share

## Annual estimated value (HKD per share)

- FY2016: low HKD 37.04 per share, central HKD 38.89 per share, high HKD 41.35 per share

- FY2017: low HKD 45.59 per share, central HKD 48.19 per share, high HKD 51.65 per share

- FY2018: low HKD 43.69 per share, central HKD 46.49 per share, high HKD 50.21 per share

- FY2019: low HKD 61.70 per share, central HKD 67.00 per share, high HKD 70.89 per share

- FY2020: low HKD 56.64 per share, central HKD 59.19 per share, high HKD 62.58 per share

- FY2021: low HKD 145.80 per share, central HKD 172.45 per share, high HKD 187.97 per share

- FY2022: low HKD 310.81 per share, central HKD 335.86 per share, high HKD 369.21 per share

- FY2023: low HKD 154.54 per share, central HKD 165.09 per share, high HKD 179.13 per share

- FY2024: low HKD 390.65 per share, central HKD 431.89 per share, high HKD 486.79 per share

- FY2025: low HKD 344.55 per share, central HKD 382.08 per share, high HKD 432.02 per share

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

## Sources

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.