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Great Wall Motor

WBAG:GRV
Snowflake Description

Excellent balance sheet established dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
GRV
WBAG
HK$95B
Market Cap
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Last updated 2019/04/18 22:53
Company description

Great Wall Motor Company Limited manufactures and sells automobiles, and automotive parts and components. The last earnings update was 27 days ago. More info.

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  • Great Wall Motor has significant price volatility in the past 3 months.
GRV Share Price and Events
7 Day Returns
1.9%
WBAG:GRV
6%
Europe Auto
3.4%
AT Market
1 Year Returns
-
WBAG:GRV
-11%
Europe Auto
-2%
AT Market
GRV Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Great Wall Motor (GRV) 1.9% 26.5% 34.2% - - -
Europe Auto 6% 8.6% 10.9% -11% 11.6% -5.7%
AT Market 3.4% 6% 10.1% -2% 43.4% 29.5%
1 Year Return vs Industry and Market
  • No trading data on GRV.
  • No trading data on GRV.
Price Volatility
GRV
Industry
5yr Volatility vs Market
Related Companies

Value

 Is Great Wall Motor undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Great Wall Motor to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Great Wall Motor.

WBAG:GRV Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 31 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 5.3%
Perpetual Growth Rate 10-Year AT Government Bond Rate 0.5%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for WBAG:GRV
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AT Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 6%
Auto Unlevered Beta Simply Wall St/ S&P Global 0.57
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.575 (1 + (1- 25%) (18.38%)) 		0.768
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)		 0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.51% + (0.8 * 5.96%) 		5.28%

Discounted Cash Flow Calculation for WBAG:GRV using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Great Wall Motor is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

WBAG:GRV DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 5.28%)
2019 2,781.43 Analyst x6 2,641.98
2020 2,701.17 Analyst x6 2,437.12
2021 5,114.42 Analyst x4 4,383.12
2022 3,642.38 Est @ -28.78% 2,965.07
2023 2,914.11 Est @ -19.99% 2,253.29
2024 2,510.70 Est @ -13.84% 1,844.04
2025 2,271.25 Est @ -9.54% 1,584.54
2026 2,123.10 Est @ -6.52% 1,406.92
2027 2,029.40 Est @ -4.41% 1,277.41
2028 1,969.82 Est @ -2.94% 1,177.74
Present value of next 10 years cash flows CN¥21,971.22
WBAG:GRV DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= CN¥1,969.82 × (1 + 0.51%) ÷ (5.28% – 0.51%) 		CN¥41,523.96
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥41,523.96 ÷ (1 + 5.28%)10 		CN¥24,826.90
WBAG:GRV Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥21,971.22 + CN¥24,826.90 		CN¥46,798.11
Equity Value per Share
(CNY)		 = Total value / Shares Outstanding
= CN¥46,798.11 / 9,127.27 		CN¥45.12
WBAG:GRV Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:2333) 		1.169
Value per Share
(HKD)		 = Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥5.13 x 1.169 		HK$6
Non-primary Listing Adjustment Factor 1 share in WBAG:GRV represents 0.11363x of SEHK:2333
(This could be a different class, a depositary receipt, a different currency, or all of these things.) 		0.11363x
Value per Share
(Listing Adjusted, EUR)		 = Value per Share (HKD) x Listing Adjustment Factor
= HK$ 6.00 x 0.11363 		€0.68
Value per share (EUR) From above. €0.68
Current discount Discount to share price of €0.79
= -1 x (€0.79 - €0.68) / €0.68 		-16.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Great Wall Motor is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Great Wall Motor's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Great Wall Motor's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WBAG:GRV PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in CNY CN¥0.57
SEHK:2333 Share Price ** SEHK (2019-04-18) in HKD HK$6.97
SEHK:2333 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.855 CN¥5.96
Europe Auto Industry PE Ratio Median Figure of 17 Publicly-Listed Auto Companies 8.36x
Austria Market PE Ratio Median Figure of 51 Publicly-Listed Companies 14.73x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Great Wall Motor.

WBAG:GRV PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:2333 Share Price ÷ EPS (both in CNY)

= 5.96 ÷ 0.57

 10.45x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Great Wall Motor is overvalued based on earnings compared to the Europe Auto industry average.
  • Great Wall Motor is good value based on earnings compared to the Austria market.
Price based on expected Growth
Does Great Wall Motor's expected growth come at a high price?
Raw Data
WBAG:GRV PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 10.45x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 31 Analysts		 5.8%per year
Europe Auto Industry PEG Ratio Median Figure of 10 Publicly-Listed Auto Companies 0.77x
Austria Market PEG Ratio Median Figure of 32 Publicly-Listed Companies 1.34x

*Line of best fit is calculated by linear regression .

WBAG:GRV PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 10.45x ÷ 5.8%

 1.81x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Great Wall Motor is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Great Wall Motor's assets?
Raw Data
WBAG:GRV PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in CNY CN¥5.75
SEHK:2333 Share Price * SEHK (2019-04-18) in HKD HK$6.97
SEHK:2333 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.855 CN¥5.96
Europe Auto Industry PB Ratio Median Figure of 24 Publicly-Listed Auto Companies 1.22x
Austria Market PB Ratio Median Figure of 59 Publicly-Listed Companies 1.27x
WBAG:GRV PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:2333 Share Price ÷ Book Value per Share (both in CNY)

= 5.96 ÷ 5.75

 1.04x

* Primary Listing of Great Wall Motor.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Great Wall Motor is good value based on assets compared to the Europe Auto industry average.
X
Value checks
We assess Great Wall Motor's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Auto industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Auto industry average (and greater than 0)? (1 check)
    5. Great Wall Motor has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Great Wall Motor expected to perform in the next 1 to 3 years based on estimates from 31 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
5.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Great Wall Motor expected to grow at an attractive rate?
  • Great Wall Motor's earnings growth is expected to exceed the low risk savings rate of 0.5%.
Growth vs Market Checks
  • Great Wall Motor's earnings growth is positive but not above the Austria market average.
  • Great Wall Motor's revenue growth is expected to exceed the Austria market average.
Annual Growth Rates Comparison
Raw Data
WBAG:GRV Future Growth Rates Data Sources
Data Point Source Value (per year)
WBAG:GRV Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 31 Analysts 5.8%
WBAG:GRV Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 31 Analysts 5.7%
Europe Auto Industry Earnings Growth Rate Market Cap Weighted Average 6.7%
Europe Auto Industry Revenue Growth Rate Market Cap Weighted Average 3%
Austria Market Earnings Growth Rate Market Cap Weighted Average 9%
Austria Market Revenue Growth Rate Market Cap Weighted Average 2.7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
WBAG:GRV Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 31 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
WBAG:GRV Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 118,048 10,273 6,159 20
2020-12-31 112,389 10,767 5,675 30
2019-12-31 107,569 8,785 5,222 31
WBAG:GRV Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2018-12-31 99,230 19,698 5,207
2018-09-30 104,386 8,281 6,074
2018-06-30 108,592 4,730 6,303
2018-03-31 104,424 2,718 5,154
2017-12-31 101,169 -1,059 5,027
2017-09-30 98,590 9,343 6,222
2017-06-30 98,199 12,799 8,045
2017-03-31 101,055 3,629 10,110
2016-12-31 98,616 8,835 10,551
2016-09-30 86,832 6,602 9,059
2016-06-30 80,561 7,132 8,268
2016-03-31 77,574 8,257 7,920

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Great Wall Motor's earnings are expected to grow by 5.8% yearly, however this is not considered high growth (20% yearly).
  • Great Wall Motor's revenue is expected to grow by 5.7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
WBAG:GRV Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 31 Analyst Estimates (S&P Global) See Below

All data from Great Wall Motor Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WBAG:GRV Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.62 0.78 0.40 16.00
2020-12-31 0.59 0.75 0.38 24.00
2019-12-31 0.55 0.71 0.36 27.00
WBAG:GRV Past Financials Data
Date (Data in CNY Millions) EPS *
2018-12-31 0.57
2018-09-30 0.67
2018-06-30 0.69
2018-03-31 0.56
2017-12-31 0.55
2017-09-30 0.68
2017-06-30 0.88
2017-03-31 1.11
2016-12-31 1.16
2016-09-30 0.99
2016-06-30 0.91
2016-03-31 0.87

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Great Wall Motor is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Great Wall Motor's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Great Wall Motor has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Great Wall Motor performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Great Wall Motor's growth in the last year to its industry (Auto).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Great Wall Motor's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Great Wall Motor's 1-year earnings growth exceeds its 5-year average (3.6% vs -7%)
  • Great Wall Motor's earnings growth has not exceeded the Europe Auto industry average in the past year (3.6% vs 5.9%).
Earnings and Revenue History
Great Wall Motor's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Great Wall Motor Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WBAG:GRV Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 99,229.99 5,207.31 6,034.52 1,743.38
2018-09-30 104,385.68 6,074.37 9,481.30 -1,076.37
2018-06-30 108,592.27 6,303.34 9,574.41 -697.19
2018-03-31 104,423.53 5,153.60 8,892.88
2017-12-31 101,169.49 5,027.30 5,782.27 3,364.57
2017-09-30 98,590.37 6,222.06 6,607.49 2,246.53
2017-06-30 98,199.18 8,045.31 6,872.56 1,539.78
2017-03-31 101,054.92 10,109.74 8,269.23
2016-12-31 98,615.70 10,551.16 7,779.83
2016-09-30 86,831.53 9,059.33 7,254.06
2016-06-30 80,560.55 8,267.88 7,015.62
2016-03-31 77,574.02 7,919.53 6,801.28
2015-12-31 76,033.14 8,059.33 6,618.81
2015-09-30 72,668.16 8,663.87 6,091.72
2015-06-30 71,216.51 8,804.27 6,024.67
2015-03-31 67,202.77 8,572.02 5,802.40
2014-12-31 62,599.10 8,041.54 5,652.43
2014-09-30 58,596.07 7,637.69 5,282.20
2014-06-30 58,894.85 8,090.63 5,002.18
2014-03-31 58,764.39 8,332.73 4,761.51
2013-12-31 56,784.31 8,223.65 4,426.89
2013-09-30 54,471.33 8,023.15 4,127.18
2013-06-30 51,289.23 7,426.27 3,777.66
2013-03-31 47,184.08 6,495.08 3,523.58
2012-12-31 43,159.97 5,692.45 3,251.15
2012-09-30 38,175.79 4,716.48 2,885.66
2012-06-30 34,177.33 3,967.91 2,621.01

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Great Wall Motor has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Great Wall Motor used its assets more efficiently than the Europe Auto industry average last year based on Return on Assets.
  • Great Wall Motor's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Great Wall Motor's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Auto industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Great Wall Motor has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Great Wall Motor's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Great Wall Motor's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Great Wall Motor is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Great Wall Motor's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Great Wall Motor's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 4.4x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Great Wall Motor Company Filings, last reported 3 months ago.

WBAG:GRV Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 52,688.59 14,957.77 12,059.73
2018-09-30 51,462.59 19,757.74 18,521.09
2018-06-30 51,292.93 18,880.73 18,256.49
2018-03-31 51,317.84 19,937.20 48,824.08
2017-12-31 49,257.96 13,511.33 6,047.68
2017-09-30 47,030.40 6,696.92 5,117.52
2017-06-30 46,583.15 6,319.40 13,328.83
2017-03-31 49,371.51 6,648.53 2,782.18
2016-12-31 47,353.64 299.80 5,560.70
2016-09-30 43,958.27 199.80 3,925.71
2016-06-30 41,658.83 349.90 5,050.33
2016-03-31 40,820.74 349.90 3,042.80
2015-12-31 38,386.92 350.00 5,266.80
2015-09-30 33,521.08 1,073.61 6,343.80
2015-06-30 35,792.47 743.26 4,319.63
2015-03-31 36,051.08 0.00 2,908.37
2014-12-31 33,518.45 0.00 3,394.47
2014-09-30 31,133.05 763.02 6,513.82
2014-06-30 29,525.29 764.26 7,291.70
2014-03-31 30,011.86 30.42 6,782.41
2013-12-31 28,008.00 182.20 6,994.79
2013-09-30 25,985.99 0.00 8,369.29
2013-06-30 23,898.91 0.00 7,380.42
2013-03-31 23,541.56 0.00 6,764.31
2012-12-31 21,643.37 0.00 6,348.63
2012-09-30 19,789.59 282.94 6,807.00
2012-06-30 18,298.11 282.04 6,427.59
  • Great Wall Motor's level of debt (28.4%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0.6% vs 28.4% today).
  • Debt is well covered by operating cash flow (131.7%, greater than 20% of total debt).
  • Great Wall Motor earns more interest than it pays, coverage of interest payments is not a concern.
Show me more healthy companies in the Auto industry
X
Financial health checks
We assess Great Wall Motor's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
    7. Great Wall Motor has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Great Wall Motor's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
4.87%
Current annual income from Great Wall Motor dividends. Estimated to be 3.85% next year.
If you bought €2,000 of Great Wall Motor shares you are expected to receive €97 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Great Wall Motor's pays a higher dividend yield than the bottom 25% of dividend payers in Austria (1.44%).
  • Great Wall Motor's dividend is above the markets top 25% of dividend payers in Austria (4.62%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
WBAG:GRV Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 31 Analyst Estimates (S&P Global) See Below
Europe Auto Industry Average Dividend Yield Market Cap Weighted Average of 12 Stocks 4.2%
Austria Market Average Dividend Yield Market Cap Weighted Average of 49 Stocks 3.4%
Austria Minimum Threshold Dividend Yield 10th Percentile 1.1%
Austria Bottom 25% Dividend Yield 25th Percentile 1.4%
Austria Top 25% Dividend Yield 75th Percentile 4.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

WBAG:GRV Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.24 14.00
2020-12-31 0.23 23.00
2019-12-31 0.22 25.00
WBAG:GRV Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2019-03-22 0.290 5.445
2018-05-14 0.170 3.734
2017-05-11 0.350 4.541
2016-10-25 0.000 0.000
2016-08-26 0.000 0.000
2016-07-28 0.000 0.000
2016-05-24 0.380 6.860
2015-10-23 0.167 2.834
2015-09-07 0.167 2.411
2015-05-12 0.267 3.288
2014-05-09 0.273 2.787
2013-05-10 0.190 1.874
2012-03-16 0.100 1.822
2011-04-29 0.067 2.099
2010-04-16 0.033 1.468
2010-03-26 0.033 1.791
2009-04-28 0.011 1.169
2009-04-20 0.027 5.508

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Great Wall Motor's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.3x coverage).
Show me more dividend paying companies in the Auto industry
X
Income/ dividend checks
We assess Great Wall Motor's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Great Wall Motor afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
    7. Great Wall Motor has a total score of 5/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Great Wall Motor's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Feng Wang
COMPENSATION CN¥3,550,000
AGE 47
TENURE AS CEO 16.4 years
CEO Bio

Ms. Feng Ying Wang serves as Vice Chairman at Great Wall Motor Company Ltd. (formerly, Great Wall Automobile Holding Co. Ltd.) and has been its General Manager since November 2002. Ms. Wang is responsible for formulating operation and management strategies for Great Wall Motor. Ms. Wang has 13 years of experience in sales and marketing management. She joined the Great Wall Group in 1991 and serves as General Manager of both Great Wall Automobile Sales Network Company Limited and Great Wall Bus Sales Company. She has been an Executive Director of Great Wall Motor Company Ltd. since June 2001. She was accredited as the Fifth Anniversary Ten Outstanding Young Persons of Baoding in 1999 and was awarded the Fifth Anniversary Hebei Outstanding Young Entrepreneur and the Chinese Marketing Professional 'Golden Tripod' Outstanding Marketing General Manager Award in 2000. She received in 2004 the 8th of March Red Signal Soldier of Hebei Province and the Model Staff of Hebei Province titles. Ms. Wang graduated from Tianjin Institute of Finance in 1999 and obtained a Master's degree in Economics.

CEO Compensation
  • Feng's compensation has been consistent with company performance over the past year.
  • Insufficient data for Feng to establish whether their remuneration is reasonable compared to companies of similar size in .
Management Team Tenure

Average tenure and age of the Great Wall Motor management team in years:

13.3
Average Tenure
47
Average Age
  • The average tenure for the Great Wall Motor management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Jian Wei

TITLE
Executive Chairman
COMPENSATION
CN¥3M
AGE
54

Feng Wang

TITLE
Executive Vice Chairman & GM
COMPENSATION
CN¥4M
AGE
47
TENURE
16.4 yrs

Zhi Yang

TITLE
Head of the Investment Management Department & Executive Director
COMPENSATION
CN¥464K
AGE
51

Shu Hu

TITLE
Deputy General Manager
AGE
46
TENURE
13.3 yrs

Feng Li

TITLE
CFO, Chief Financial Controller & Deputy GM
COMPENSATION
CN¥1M
AGE
55
TENURE
13.9 yrs

Lu Juan

TITLE
Head of the Accounting Department & Head of the Finance Section

Hui Xu

TITLE
Head of Securities & Legal Affairs Department and Company Secretary
COMPENSATION
CN¥1M
AGE
39
TENURE
10.8 yrs

Guo Zhao

TITLE
Deputy General Manager
COMPENSATION
CN¥2M
AGE
40
TENURE
8.8 yrs
Board of Directors Tenure

Average tenure and age of the Great Wall Motor board of directors in years:

4.9
Average Tenure
48.5
Average Age
  • The tenure for the Great Wall Motor board of directors is about average.
Board of Directors

Jian Wei

TITLE
Executive Chairman
COMPENSATION
CN¥3M
AGE
54
TENURE
17.8 yrs

Feng Wang

TITLE
Executive Vice Chairman & GM
COMPENSATION
CN¥4M
AGE
47

Zhi Yang

TITLE
Head of the Investment Management Department & Executive Director
COMPENSATION
CN¥464K
AGE
51
TENURE
17.7 yrs

Li Ma

TITLE
Independent Non-Executive Director
AGE
50
TENURE
4.9 yrs

Biao Chen

TITLE
Chairman of Supervisory Committee
AGE
33
TENURE
3.3 yrs

Wan Jun Li

TITLE
Independent Non-Executive Director
AGE
54
TENURE
1.9 yrs

Ping He

TITLE
Non-Executive Director
COMPENSATION
CN¥60K
AGE
41
TENURE
16.9 yrs

Chi Ng

TITLE
Independent Non-Executive Director
AGE
44
TENURE
1.9 yrs

Jin Luo

TITLE
Independent Supervisor
COMPENSATION
CN¥18K
AGE
58
TENURE
15.6 yrs

Yi Zong

TITLE
Independent Supervisor
COMPENSATION
CN¥11K
AGE
47
TENURE
4.9 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
17. Apr 19 Sell JPMorgan Chase & Co, Brokerage and Securities Investments Company 12. Apr 19 12. Apr 19 -29,422,407 €0.74 €-21,841,710
17. Apr 19 Buy Highbridge Capital Management, LLC Company 12. Apr 19 12. Apr 19 540,500 €0.74 €401,240
16. Apr 19 Buy JPMorgan Chase & Co, Brokerage and Securities Investments Company 11. Apr 19 11. Apr 19 23,913,919 €0.78 €18,666,178
16. Apr 19 Sell Highbridge Capital Management, LLC Company 11. Apr 19 11. Apr 19 -1,604,500 €0.78 €-1,252,404
16. Apr 19 Buy J.P. Morgan Asset Management, Inc. Company 11. Apr 19 11. Apr 19 54,000 €0.78 €42,150
15. Apr 19 Buy JPMorgan Chase & Co, Brokerage and Securities Investments Company 10. Apr 19 10. Apr 19 42,082,174 €0.79 €33,082,202
26. Mar 19 Sell Morgan Stanley, Investment Banking and Brokerage Investments Company 21. Mar 19 21. Mar 19 -2,347,188 €0.63 €-1,476,380
24. Jan 19 Buy Goldman Sachs Group, Investment Banking and Securities Investments Company 21. Jan 19 21. Jan 19 5,938,500 €0.59 €3,489,316
15. Jan 19 Buy Goldman Sachs Group, Investment Banking and Securities Investments Company 10. Jan 19 10. Jan 19 3,823,000 €0.52 €1,995,360
24. Dec 18 Buy Baoding Great Wall Holdings Co., Ltd. Company 20. Dec 18 20. Dec 18 3,100,000 €0.50 €1,543,349
24. Dec 18 Buy Baoding Great Wall Holdings Co., Ltd. Company 21. Dec 18 21. Dec 18 1,944,000 €0.49 €952,577
25. Oct 18 Buy Morgan Stanley, Investment Banking and Brokerage Investments Company 22. Oct 18 22. Oct 18 4,719,941 €0.52 €2,462,187
17. Sep 18 Buy Baoding Great Wall Holdings Co., Ltd. Company 17. Sep 18 17. Sep 18 13,283,500 €0.49 €6,499,747
17. Sep 18 Buy Baoding Great Wall Holdings Co., Ltd. Company 14. Sep 18 14. Sep 18 3,316,000 €0.49 €1,626,590
17. Sep 18 Buy Baoding Great Wall Holdings Co., Ltd. Company 13. Sep 18 13. Sep 18 8,375,000 €0.47 €3,933,969
04. Jul 18 Sell UBS Asset Management Company 28. Jun 18 28. Jun 18 -6,721,000 €0.70 €-4,699,544
19. Jun 18 Buy UBS Asset Management Company 13. Jun 18 13. Jun 18 6,424,664 €0.81 €5,173,884
X
Management checks
We assess Great Wall Motor's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
    5. Great Wall Motor has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Great Wall Motor Company Limited manufactures and sells automobiles, and automotive parts and components. The company offers pick-up trucks, SUVs, sedans, and energy vehicles primarily under the Haval, WEY, Great Wall Pickup, and ORA brand names; Great Wall, Havel, and WEY brand names, as well as special vehicles, etc. It also researches, develops, and manufactures auto molds; repairs automobiles; and transports general goods, as well as provides truck transportation services. In addition, the company provides investment and financing, logistics, buildings rental, business information consultation, car rental, automotive finance, insurance brokerage, scrap car recycling and dismantling, finance lease, real estate, and after-sales services, as well as automotive technology research, development, and technical consultation services. Further, it processes, recycles, and sells waste and used materials. Great Wall Motor Company Limited also exports its products. Great Wall Motor Company Limited operates in China, South Africa, Ecuador, Chile, Russia, Iran, and internationally. The company was formerly known as Baoding Great Wall Motor Company Limited and changed its name to Great Wall Motor Company Limited in May 2003. The company was founded in 1984 and is headquartered in Baoding, China. Great Wall Motor Company Limited is a subsidiary of Baoding Innovation Great Wall Asset Management Company Limited.

Details
Name: Great Wall Motor Company Limited
GRV
Exchange: WBAG
Founded: 1984
HK$10,795,222,968
9,127,269,000
Website: http://www.gwm.com.cn
Address: Great Wall Motor Company Limited
2266 Chaoyang South Street,
Baoding,
Hebei Province, 071000,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 2333 Foreign Shares-Foreign Listed The Stock Exchange of Hong Kong Ltd. HK HKD 15. Dec 2003
OTCPK GWLL.F Foreign Shares-Foreign Listed Pink Sheets LLC US USD 15. Dec 2003
DB GRV Foreign Shares-Foreign Listed Deutsche Boerse AG DE EUR 15. Dec 2003
SHSC 2333 Foreign Shares-Foreign Listed Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 15. Dec 2003
SZSC 2333 Foreign Shares-Foreign Listed The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 15. Dec 2003
WBAG GRV Foreign Shares-Foreign Listed Wiener Boerse AG AT EUR 15. Dec 2003
OTCPK GWLL.Y ADR Pink Sheets LLC US USD 12. Dec 2011
SHSE 601633 Domestic Shares Shanghai Stock Exchange CN CNY 10. Oct 2011
XSSC 601633 Domestic Shares Shanghai Stock Exchange - Shanghai - Hong Kong Stock Connect CN CNY 10. Oct 2011
Number of employees
Current staff
Staff numbers
63,455
Great Wall Motor employees.
Industry
Automobile Manufacturers
Automobiles
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/18 22:53
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/18
Last earnings filing: 2019/03/22
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

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