0293.HK Stock Today: January 22 Travel Surge, HK Express Sale
Cathay Pacific stock is in focus as Hong Kong travel demand stays firm and HK Express launches a two-day Japan–Hong Kong flash sale. Shares of 0293.HK traded at HK$12.43 today, down 0.48%, within a HK$12.32–12.49 range. Cathay Group’s 2025 passengers rose 26.5% year over year, with strong loads into early January. HK Express passenger growth hit 29.7% on added capacity. We break down demand signals, technicals, valuation, and what could drive Cathay Pacific stock into 1H26.
Travel momentum and demand signals
Cathay passenger traffic climbed 26.5% year over year for 2025, with December up 21.8% as travel momentum held into the holidays. Company updates point to robust daily loads early January, supporting seat factors across core routes. We see this aiding pricing power on long-haul and regional flights. Source: AAStocks.
HK Express started a January 21–22 “Express Sale” on Japan–Hong Kong routes with fares from JPY 4,000 for travel through July. This should lift forward bookings and visibility into 1H26 while testing price elasticity on leisure demand. We will track unit revenue and load factor impacts as promotions taper. Source: Traicy.
Price action and technical setup
Cathay Pacific stock trades at HK$12.43, down HK$0.06 today. It sits above the 50-day (HK$12.22) and 200-day (HK$10.98) averages, a constructive sign. RSI is 54.67, MACD histogram is slightly positive at 0.02, and ADX of 28.9 signals a strong trend building. We view dips toward the 50-day average as key for trend validation.
Bollinger Bands show HK$11.42 to HK$13.24, with ATR at 0.29 pointing to moderate daily swings. Stochastic sits near 75, while MFI at 31.6 suggests no overbought pressure. Today’s low at HK$12.32 and the 50-day near HK$12.22 form support. Resistance sits near the 52-week high at HK$13.09.
Fundamentals and valuation
TTM P/E is 8.34 with net margin at 9.10% and ROE at 19.06%. Dividend yield stands at 5.55% on a 47% payout. EV/EBITDA is 6.53 and P/B is 1.60. Leverage is notable at 1.26x debt-to-equity. Liquidity is tight with a 0.35 current ratio and interest coverage at 3.79x, so we monitor refinancing and cash generation.
Revenue per share is HK$16.38 and price-to-sales is 0.73. Price-to-operating cash flow is 3.44 and price-to-free cash flow is 5.85, indicating healthy cash yield. Capex-to-operating cash flow is 0.43, reflecting fleet and product investment. Capacity growth supports scale, but promotions may weigh on yields. We watch unit revenue trends post-sale.
What to watch into 1H26 and results
We will track forward bookings on Japan Hong Kong flights after the sale, Lunar New Year travel strength, and any updates on capacity deployment. Watch load factors, yield commentary, and cargo mix. The March 11, 2026 results will be key for guidance on pricing, cost inflation, and capital plans relevant to Cathay Pacific stock.
Our system rates the stock A- (Buy) with a B+ grade and score of 74. Model projections see HK$12.67 in the next quarter and HK$14.72 over 12 months, with multi-year upside to HK$20.01. Technicals lean constructive, but debt and liquidity require attention. We prefer data-driven add points near support.
Final Thoughts
Travel demand is firm, with 2025 passengers up 26.5% and early January loads healthy. The HK Express flash sale should lift forward bookings into 1H26 and test price elasticity on leisure routes. Technically, shares hold above key moving averages with a stable RSI and supportive ADX. Valuation looks reasonable at 8.34x earnings and a 5.55% yield, though leverage and liquidity are watch items. For Hong Kong investors, the setup for Cathay Pacific stock looks constructive if unit revenues remain resilient post-sale. We will watch March results, capacity guidance, and yield commentary to reassess risk-reward.
FAQs
Is the HK Express sale positive for Cathay Pacific stock?
Yes, if it boosts forward bookings and keeps load factors high into 1H26. The sale tests price sensitivity on Japan routes, which can inform yield strategy. The short-term risk is lower unit revenue from discounts. We will watch post-sale bookings, fare trends, and management’s yield guidance in March.
What key price levels should traders watch today?
Support sits near HK$12.33 (intraday low) and the 50-day moving average around HK$12.22. Resistance is near the 52-week high at HK$13.09 and the Bollinger upper band at HK$13.24. ATR of 0.29 signals typical daily swings. A hold above the 50-day trend line keeps momentum constructive.
How attractive is Cathay Pacific’s valuation right now?
The stock trades at 8.34x TTM earnings, 1.60x book, and 6.53x EV/EBITDA, with a 5.55% dividend yield and 47% payout. Cash flow multiples are modest at 3.44x (OCF) and 5.85x (FCF). Valuation appears reasonable, but leverage and liquidity metrics warrant continued monitoring.
What should investors monitor heading into March 11 results?
Focus on forward bookings, yield commentary after the HK Express sale, capacity plans, and cost inflation. Watch interest coverage and debt plans given a 1.26x debt-to-equity and a 0.35 current ratio. Any update on dividend policy, cash generation, and network recovery will shape sentiment.
Disclaimer:
The content shared by Meyka AI PTY LTD is solely for research and informational purposes. Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.
