SHSE:600104

Stock Analysis Report

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Executive Summary

SAIC Motor Corporation Limited researches and develops, produces, and sells passenger and commercial vehicles in the People’s Republic of China and internationally. More Details


Snowflake Analysis

Established dividend payer and good value.


Similar Companies

Share Price & News

How has SAIC Motor's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 600104 is not significantly more volatile than the rest of CN stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: 600104's weekly volatility (5%) has been stable over the past year.


Market Performance


7 Day Return

4.7%

600104

10.3%

CN Auto

1.4%

CN Market


1 Year Return

17.4%

600104

36.7%

CN Auto

32.9%

CN Market

Return vs Industry: 600104 underperformed the CN Auto industry which returned 36.7% over the past year.

Return vs Market: 600104 underperformed the CN Market which returned 32.9% over the past year.


Shareholder returns

600104IndustryMarket
7 Day4.7%10.3%1.4%
30 Day27.6%22.5%3.8%
90 Day45.1%32.0%-0.9%
1 Year23.4%17.4%40.8%36.7%35.2%32.9%
3 Year-0.3%-14.6%-3.7%-12.9%19.3%13.5%
5 Year86.4%41.8%8.3%-9.2%11.0%3.6%

Long-Term Price Volatility Vs. Market

How volatile is SAIC Motor's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is SAIC Motor undervalued compared to its fair value and its price relative to the market?

14.76x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: 600104 (CN¥27.12) is trading above our estimate of fair value (CN¥7.58)

Significantly Below Fair Value: 600104 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: 600104 is good value based on its PE Ratio (14.8x) compared to the CN Auto industry average (50.1x).

PE vs Market: 600104 is good value based on its PE Ratio (14.8x) compared to the CN market (39.1x).


Price to Earnings Growth Ratio

PEG Ratio: 600104 is good value based on its PEG Ratio (1x)


Price to Book Ratio

PB vs Industry: 600104 is good value based on its PB Ratio (1.2x) compared to the CN Auto industry average (2.2x).


Next Steps

Future Growth

How is SAIC Motor forecast to perform in the next 1 to 3 years based on estimates from 21 analysts?

15.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 600104's forecast earnings growth (15.1% per year) is above the savings rate (3.3%).

Earnings vs Market: 600104's earnings (15.1% per year) are forecast to grow slower than the CN market (24.2% per year).

High Growth Earnings: 600104's earnings are forecast to grow, but not significantly.

Revenue vs Market: 600104's revenue (7.6% per year) is forecast to grow slower than the CN market (18% per year).

High Growth Revenue: 600104's revenue (7.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 600104's Return on Equity is forecast to be low in 3 years time (10.6%).


Next Steps

Past Performance

How has SAIC Motor performed over the past 5 years?

-4.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 600104 has high quality earnings.

Growing Profit Margin: 600104's current net profit margins (2.8%) are lower than last year (3.6%).


Past Earnings Growth Analysis

Earnings Trend: 600104's earnings have declined by 4.8% per year over the past 5 years.

Accelerating Growth: 600104's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 600104 had negative earnings growth (-26.2%) over the past year, making it difficult to compare to the Auto industry average (11.9%).


Return on Equity

High ROE: 600104's Return on Equity (9.5%) is considered low.


Next Steps

Financial Health

How is SAIC Motor's financial position?


Financial Position Analysis

Short Term Liabilities: 600104's short term assets (CN¥515.6B) exceed its short term liabilities (CN¥434.8B).

Long Term Liabilities: 600104's short term assets (CN¥515.6B) exceed its long term liabilities (CN¥107.5B).


Debt to Equity History and Analysis

Debt Level: 600104's debt to equity ratio (47.6%) is considered high.

Reducing Debt: 600104's debt to equity ratio has increased from 17.1% to 47.6% over the past 5 years.

Debt Coverage: 600104's debt is well covered by operating cash flow (38.8%).

Interest Coverage: 600104 earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


Next Steps

Dividend

What is SAIC Motor current dividend yield, its reliability and sustainability?

3.24%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: 600104's dividend (3.24%) is higher than the bottom 25% of dividend payers in the CN market (0.36%).

High Dividend: 600104's dividend (3.24%) is in the top 25% of dividend payers in the CN market (1.62%)


Stability and Growth of Payments

Stable Dividend: 600104's dividend payments have been volatile in the past 10 years.

Growing Dividend: 600104's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (47.9%), 600104's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: 600104's dividends in 3 years are forecast to be well covered by earnings (49.1% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.8yrs

Average management tenure


CEO

Xiaoqiu Wang (56 yo)

1.83yrs

Tenure

Mr. Xiaoqiu Wang serves as Vice Chairman of the Board at HUAYU Automotive Systems Company Limited. He has been President of SAIC Motor Corporation Limited since 2019 and serves as its Director since 2019 a...


Leadership Team

NamePositionTenureCompensationOwnership
Yong Wei
VP & Acting CFOno dataCN¥1.99mno data
Sijie Zu
VP & Chief Engineer1.83yrsCN¥1.98mno data
Xiaodong Chen
Board Secretary1.83yrsCN¥306.60kno data
Xiao Dong Yang
Vice Presidentno dataCN¥1.99mno data
Xiaoqiu Wang
President & Director1.83yrsno datano data
Xiao Qiong Gu
Head of Accounting Departmentno datano datano data
Tom Lee
Regional Head of Middle East3.33yrsno datano data

1.8yrs

Average Tenure

50yo

Average Age

Experienced Management: 600104's management team is not considered experienced ( 1.8 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Xiaoqiu Wang
President & Director1.83yrsno datano data
Hong Chen
Chairman of the Board6.42yrsCN¥1.55m0.000070%
CN¥ 218.3k
Ruoshan Li
Independent Director4.5yrsCN¥100.00kno data
Bao Jiang
Employee Representative Supervisor5.42yrsno datano data
Li Xin Zhong
Employee Representative Directorno dataCN¥1.37mno data
Jian Wang
Directorno datano datano data
Xinliang Tao
Independent Director5.42yrsCN¥100.00kno data
Zhu Peili
Employee representative Supervisor3.67yrsno datano data
Lian Yi
Supervisorno datano datano data
Sai Zeng
Independent Directorno dataCN¥100.00kno data
Xiaosu Shen
Chairman of Board of Supervisors1.83yrsno datano data

4.5yrs

Average Tenure

57yo

Average Age

Experienced Board: 600104's board of directors are considered experienced (4.5 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.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

SAIC Motor Corporation Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: SAIC Motor Corporation Limited
  • Ticker: 600104
  • Exchange: SHSE
  • Founded:
  • Industry: Automobile Manufacturers
  • Sector: Automobiles
  • Market Cap: CN¥311.819b
  • Shares outstanding: 11.61b
  • Website: https://www.saicmotor.com

Number of Employees


Location

  • SAIC Motor Corporation Limited
  • No. 489 Weihai Road
  • Jing'an District
  • Shanghai
  • 200041
  • China

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
600104SHSE (Shanghai Stock Exchange)YesDomestic SharesCNCNYDec 1997
600104XSSC (Shanghai Stock Exchange - Shanghai - Hong Kong Stock Connect)YesDomestic SharesCNCNYDec 1997

Biography

SAIC Motor Corporation Limited researches and develops, produces, and sells passenger and commercial vehicles in the People’s Republic of China and internationally. The company also engages in the promotio...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/11/23 14:44
End of Day Share Price2020/11/20 00:00
Earnings2020/09/30
Annual Earnings2019/12/31


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.