Is Phoenix Media Investment (Holdings) (HKG:2008) Using Debt In A Risky Way?
Nov 17
Hong Kong (HSI) Media Industry Analysis
UpdatedDec 03, 2022
DataAggregated Company Financials
Companies47
- 7D4.1%
- 3M-7.4%
- 1Y-39.7%
- YTD-32.7%
In the last week, the Media industry is up 4.1%, with China Literature up 6.3%. Meanwhile, Rego Interactive actually underperformed within the industry, shrinking 7.4% in the last week. However, the industry is down 40% over the past year. As for the next few years, earnings are expected to grow by 1.5% per annum.
Industry Valuation and Performance
Has the Hong Kong Media Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sun, 04 Dec 2022 | HK$69.5b | HK$55.1b | -HK$310,845,620.00 | 11x | -223.6x | 1.3x |
| Tue, 01 Nov 2022 | HK$51.6b | HK$54.4b | -HK$442,212,576.00 | 14.6x | -116.7x | 0.9x |
| Thu, 29 Sep 2022 | HK$53.1b | HK$54.6b | -HK$496,766,643.00 | 14x | -106.8x | 1x |
| Sat, 27 Aug 2022 | HK$64.1b | HK$54.7b | -HK$1,019,544,943.00 | 11.3x | -62.9x | 1.2x |
| Mon, 25 Jul 2022 | HK$72.6b | HK$55.0b | HK$236.3m | 10.9x | 307.3x | 1.3x |
| Wed, 22 Jun 2022 | HK$76.7b | HK$55.0b | HK$380.2m | 14.7x | 201.7x | 1.4x |
| Fri, 20 May 2022 | HK$73.0b | HK$55.0b | HK$419.1m | 17.8x | 174.2x | 1.3x |
| Sun, 17 Apr 2022 | HK$74.8b | HK$56.8b | HK$480.9m | 16.8x | 155.5x | 1.3x |
| Tue, 15 Mar 2022 | HK$69.0b | HK$54.4b | -HK$2,568,221,193.00 | 11.8x | -26.9x | 1.3x |
| Thu, 10 Feb 2022 | HK$92.8b | HK$53.9b | -HK$2,560,691,956.00 | 12.1x | -36.3x | 1.7x |
| Sat, 08 Jan 2022 | HK$93.2b | HK$53.3b | -HK$2,643,072,806.00 | 15.9x | -35.2x | 1.7x |
| Mon, 06 Dec 2021 | HK$95.8b | HK$53.3b | -HK$2,642,153,563.00 | 13x | -36.3x | 1.8x |
| Wed, 03 Nov 2021 | HK$97.6b | HK$46.5b | -HK$3,010,054,245.00 | n/a | -32.4x | 2.1x |
| Fri, 01 Oct 2021 | HK$104.5b | HK$46.2b | -HK$3,050,069,762.00 | 16x | -34.3x | 2.3x |
| Sun, 29 Aug 2021 | HK$107.8b | HK$44.2b | -HK$2,780,442,289.41 | 16x | -38.8x | 2.4x |
| Mon, 05 Jul 2021 | HK$140.4b | HK$44.2b | -HK$2,780,442,289.41 | 17.3x | -50.5x | 3.2x |
| Thu, 08 Apr 2021 | HK$121.7b | HK$42.2b | -HK$5,753,297,002.83 | 17.6x | -21.2x | 2.9x |
| Sun, 10 Jan 2021 | HK$101.0b | HK$40.9b | -HK$8,821,559,538.93 | 17.8x | -11.5x | 2.5x |
| Sat, 03 Oct 2020 | HK$86.7b | HK$38.6b | -HK$7,275,846,814.53 | 25.2x | -11.9x | 2.2x |
| Tue, 07 Jul 2020 | HK$79.8b | HK$41.2b | -HK$5,842,793,519.62 | 13.4x | -13.7x | 1.9x |
| Fri, 10 Apr 2020 | HK$59.3b | HK$42.8b | -HK$3,091,666,063.75 | 9.8x | -19.2x | 1.4x |
| Thu, 02 Jan 2020 | HK$68.0b | HK$43.5b | -HK$413,568,794.47 | 22.9x | -164.5x | 1.6x |
Price to Earnings Ratio
-164.5x
Current Industry PE
- Investors are pessimistic on the Hong Kong Media industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The 3-year average PS ratio of 1.9x is higher than the industry's current PS ratio of 1.3x.
Past Earnings Growth
- Losses for companies in the Media industry have mostly stayed the same over the last three years.
- Meanwhile revenues for these companies have grown 9.4% per year.
- This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased and as a result, losses haven't seen much improvement.
Industry Trends
Which industries have driven the changes within the Hong Kong Telecom industry?
| HK Market | 3.74% | |
| Telecom | 5.56% | |
| Media | 4.08% | |
| Broadcasting | 6.94% | |
| Publishing | 5.57% | |
| Advertising | 2.12% | |
| Cable and Satellite | -13.22% | |
Industry PE
- Investors are most optimistic about the Advertising industry which is trading above its 3-year average PE ratio.
- Analysts are expecting annual earnings decline of 78.1%, which is lower than the prior year's growth of 9.2% per year.
Forecasted Growth
- Analysts are most optimistic on the Broadcasting industry, expecting annual earnings growth of 96% over the next 5 years.
- In contrast, the Advertising industry is expected to see its earnings decline by 78% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| 772 China Literature | HK$27.20 | 6.3% +HK$1.6b | -48.2% | PE25.1x | |
| 6610 Flowing Cloud Technology | HK$4.73 | 7.5% +HK$597.3m | n/a | n/a | |
| 1450 Century Sage Scientific Holdings | HK$2.27 | 9.1% +HK$249.1m | 41.9% | PS11.7x | |
| 6988 Joy Spreader Group | HK$1.75 | 4.2% +HK$162.4m | -18.2% | PE19.1x | |
| 471 Silkwave | HK$0.47 | 20.5% +HK$141.5m | 1.1% | PS14.6x |
