| Snowflake Score | |
|---|---|
| Valuation | 4/6 |
| Future Growth | 5/6 |
| Past Performance | 1/6 |
| Financial Health | 4/6 |
| Dividends | 3/6 |
KSL Stock Overview
Kina Securities Limited, together with its subsidiaries, provides commercial banking and financial, fund administration, investment management, and share brokerage services in Papua New Guinea.
Kina Securities Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | AU$0.87 |
| 52 Week High | AU$0.98 |
| 52 Week Low | AU$0.80 |
| Beta | 0.81 |
| 1 Month Change | 2.96% |
| 3 Month Change | -1.14% |
| 1 Year Change | -10.31% |
| 3 Year Change | -36.03% |
| 5 Year Change | -2.25% |
| Change since IPO | -22.15% |
Recent News & Updates
Shareholder Returns
| KSL | AU Banks | AU Market | |
|---|---|---|---|
| 7D | -1.1% | 0.9% | 1.0% |
| 1Y | -10.3% | -4.3% | -7.9% |
Return vs Industry: KSL underperformed the Australian Banks industry which returned -4.3% over the past year.
Return vs Market: KSL underperformed the Australian Market which returned -7.9% over the past year.
Price Volatility
| KSL volatility | |
|---|---|
| KSL Average Weekly Movement | 3.5% |
| Banks Industry Average Movement | 3.6% |
| Market Average Movement | 10.6% |
| 10% most volatile stocks in AU Market | 17.5% |
| 10% least volatile stocks in AU Market | 4.7% |
Stable Share Price: KSL is less volatile than 75% of Australian stocks over the past 3 months, typically moving +/- 3% a week.
Volatility Over Time: KSL's weekly volatility (3%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1985 | 685 | Greg Pawson | https://www.kinabank.com.pg |
Kina Securities Limited, together with its subsidiaries, provides commercial banking and financial, fund administration, investment management, and share brokerage services in Papua New Guinea. It operates through two segments, Bank and Wealth Management. The company offers savings, individual and business cheque, business, cash management, and fixed deposit accounts; personal, home, residential property investment, and business loans; insurance premium funding; equipment finance; overdrafts; and bank guarantees products.
Kina Securities Fundamentals Summary
| KSL fundamental statistics | |
|---|---|
| Market Cap | K602.50m |
| Earnings (TTM) | K70.81m |
| Revenue (TTM) | K327.84m |
8.5x
P/E Ratio1.0x
P/B RatioIs KSL overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| KSL income statement (TTM) | |
|---|---|
| Revenue | K327.84m |
| Cost of Revenue | K0 |
| Gross Profit | K327.84m |
| Other Expenses | K257.03m |
| Earnings | K70.81m |
Last Reported Earnings
Dec 31, 2021
Next Earnings Date
n/a
| Earnings per share (EPS) | 0.25 |
| Gross Margin | 100.00% |
| Net Profit Margin | 21.60% |
| Debt/Equity Ratio | 0.8% |
How did KSL perform over the long term?
See historical performance and comparisonDividends
11.2%
Current Dividend Yield108%
Payout RatioValuation
Is KSL undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score
4/6Valuation Score 4/6
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
Analyst Forecast
Key Valuation Metric
Which metric is best to use when looking at relative valuation for KSL?
Other financial metrics that can be useful for relative valuation.
| What is KSL's n/a Ratio? | |
|---|---|
| n/a Ratio | 0x |
| n/a | n/a |
| Market Cap | K602.50m |
| Key Statistics | |
|---|---|
| Enterprise Value/Revenue | n/a |
| Enterprise Value/EBITDA | n/a |
| PEG Ratio | 0.4x |
Price to Earnings Ratio vs Peers
How does KSL's PE Ratio compare to its peers?
| KSL PE Ratio vs Peers |
|---|
| Company | PE | Estimated Growth | Market Cap |
|---|---|---|---|
| Peer Average | 8.5x | ||
BFL BSP Financial Group | 5.2x | n/a | AU$2.3b |
ABA Auswide Bank | 10.9x | n/a | AU$288.1m |
BBC BNK Banking | 13.1x | n/a | AU$73.0m |
RMC Resimac Group | 4.7x | -0.3% | AU$522.6m |
KSL Kina Securities | 8.5x | 23.6% | AU$248.7m |
Price-To-Earnings vs Peers: KSL is expensive based on its Price-To-Earnings Ratio (8.5x) compared to the peer average (8.5x).
Price to Earnings Ratio vs Industry
How does KSL's PE Ratio compare vs other companies in the Global Banks Industry?
Price-To-Earnings vs Industry: KSL is good value based on its Price-To-Earnings Ratio (8.5x) compared to the Australian Banks industry average (12.3x)
Price to Earnings Ratio vs Fair Ratio
What is KSL's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.
| Fair Ratio | |
|---|---|
| Current PE Ratio | 8.5x |
| Fair PE Ratio | 13.9x |
Price-To-Earnings vs Fair Ratio: KSL is good value based on its Price-To-Earnings Ratio (8.5x) compared to the estimated Fair Price-To-Earnings Ratio (13.9x).
Share Price vs Fair Value
What is the Fair Price of KSL when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: KSL (A$0.87) is trading below our estimate of fair value (A$4.24)
Significantly Below Fair Value: KSL is trading below fair value by more than 20%.
Analyst Price Targets
What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?
Analyst Forecast: Insufficient data to show price forecast.
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Future Growth
How is Kina Securities forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?
Future Growth Score
5/6Future Growth Score 5/6
Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE
23.6%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: KSL's forecast earnings growth (23.6% per year) is above the savings rate (1.8%).
Earnings vs Market: KSL's earnings (23.6% per year) are forecast to grow faster than the Australian market (6.2% per year).
High Growth Earnings: KSL's earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: KSL's revenue (14.1% per year) is forecast to grow faster than the Australian market (5.7% per year).
High Growth Revenue: KSL's revenue (14.1% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: KSL's Return on Equity is forecast to be high in 3 years time (24.4%)
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Past Performance
How has Kina Securities performed over the past 5 years?
Past Performance Score
1/6Past Performance Score 1/6
Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE
22.7%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: KSL has a large one-off loss of PGK27.7M impacting its December 31 2021 financial results.
Growing Profit Margin: KSL's current net profit margins (21.6%) are lower than last year (25.9%).
Past Earnings Growth Analysis
Earnings Trend: KSL's earnings have grown significantly by 22.7% per year over the past 5 years.
Accelerating Growth: KSL's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: KSL had negative earnings growth (-6.8%) over the past year, making it difficult to compare to the Banks industry average (16.5%).
Return on Equity
High ROE: KSL's Return on Equity (12.3%) is considered low.
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Financial Health
How is Kina Securities's financial position? (This company is analysed differently as a bank or financial institution)
Financial Health Score
4/6Financial Health Score 4/6
Asset Level
Allowance for Bad Loans
Low Risk Liabilities
Loan Level
Low Risk Deposits
Level of Bad Loans
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Financial Institutions Analysis
Asset Level: KSL's Assets to Equity ratio (6.6x) is low.
Allowance for Bad Loans: KSL has a low allowance for bad loans (44%).
Low Risk Liabilities: 95% of KSL's liabilities are made up of primarily low risk sources of funding.
Loan Level: KSL has an appropriate level of Loans to Assets ratio (52%).
Low Risk Deposits: KSL's Loans to Deposits ratio (64%) is appropriate.
Level of Bad Loans: KSL has a high level of bad loans (4.4%).
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Dividend
What is Kina Securities's current dividend yield, its reliability and sustainability?
Dividend Score
3/6Dividend Score 3/6
Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage
11.23%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: KSL's dividend (11.23%) is higher than the bottom 25% of dividend payers in the Australian market (2.62%).
High Dividend: KSL's dividend (11.23%) is in the top 25% of dividend payers in the Australian market (6.24%)
Stability and Growth of Payments
Stable Dividend: KSL has been paying a dividend for less than 10 years and during this time payments have been volatile.
Growing Dividend: KSL's dividend payments have increased, but the company has only paid a dividend for 6 years.
Current Payout to Shareholders
Earnings Coverage: With its high payout ratio (108.4%), KSL's dividend payments are not well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: KSL's dividends in 3 years are forecast to be covered by earnings (79.6% payout ratio).
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Management
How experienced are the management team and are they aligned to shareholders interests?
5.5yrs
Average management tenure
CEO
Greg Pawson (56 yo)
4.83yrs
Tenure
K1,987,000
Compensation
Mr. Gregory Alan Pawson, also known as Greg, has been Managing Director of Kina Securities Limited since January 02, 2018 and has been its Chief Executive Officer since December 2017. He was Director of Ki...
CEO Compensation Analysis
Compensation vs Market: Greg's total compensation ($USD565.50K) is about average for companies of similar size in the Australian market ($USD564.46K).
Compensation vs Earnings: Greg's compensation has been consistent with company performance over the past year.
Leadership Team
Experienced Management: KSL's management team is seasoned and experienced (5.5 years average tenure).
Board Members
Experienced Board: KSL's board of directors are considered experienced (4.1 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Kina Securities Limited's employee growth, exchange listings and data sources
Key Information
- Name: Kina Securities Limited
- Ticker: KSL
- Exchange: CHIA
- Founded: 1985
- Industry: Diversified Banks
- Sector: Banks
- Implied Market Cap: AU$248.737m
- Shares outstanding: 287.56m
- Website: https://www.kinabank.com.pg
Number of Employees
Location
- Kina Securities Limited
- Kina Bank Haus
- Level 9
- Port Moresby
- Papua New Guinea
Listings
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2022/08/07 00:00 |
| End of Day Share Price | 2022/08/05 00:00 |
| Earnings | 2021/12/31 |
| Annual Earnings | 2021/12/31 |
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.