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333

Midea GroupSZSE:000333 Stock Report

Last Price

CN¥77.08

Market Cap

CN¥529.3b

7D

5.5%

1Y

-24.4%

Updated

24 Jan, 2022

Data

Company Financials +
333 fundamental analysis
Snowflake Score
Valuation4/6
Future Growth2/6
Past Performance4/6
Financial Health5/6
Dividends4/6

333 Stock Overview

Midea Group Co., Ltd., together with its subsidiaries, manufactures and sells home appliances, and robotic and automation systems in China and internationally.

Midea Group Competitors

Haier Smart Home

SHSE:600690

CN¥261.9b

Gree Electric Appliances of Zhuhai

SZSE:000651

CN¥209.4b

JoyoungLtd

SZSE:002242

CN¥18.4b

Samsung Electronics

KOSE:A005930

₩504.5t

Price History & Performance

Summary of all time highs, changes and price drops for Midea Group
Historical stock prices
Current Share PriceCN¥77.08
52 Week HighCN¥108.00
52 Week LowCN¥61.11
Beta1.03
1 Month Change6.82%
3 Month Change10.08%
1 Year Change-24.42%
3 Year Change84.23%
5 Year Change157.79%
Change since IPO584.30%

Recent News & Updates

Shareholder Returns

333CN Consumer DurablesCN Market
7D5.5%2.0%-1.2%
1Y-24.4%-18.9%-2.9%

Return vs Industry: 000333 underperformed the CN Consumer Durables industry which returned -18.9% over the past year.

Return vs Market: 000333 underperformed the CN Market which returned -2.9% over the past year.

Price Volatility

Is 333's price volatile compared to industry and market?
333 volatility
333 Average Weekly Movement4.5%
Consumer Durables Industry Average Movement5.8%
Market Average Movement6.1%
10% most volatile stocks in CN Market9.5%
10% least volatile stocks in CN Market3.5%

Stable Share Price: 000333 is less volatile than 75% of CN stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: 000333's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1968160,000Hongbo Fanghttps://www.midea-group.com

Midea Group Co., Ltd., together with its subsidiaries, manufactures and sells home appliances, and robotic and automation systems in China and internationally. It operates through four segments: Heating & Ventilation, as well as Air-Conditioner; Consumer Appliances; Robotics and Automation System; and Others. The company offers split, window, portable, and dehumidifier residential air conditioners (ACs); light commercial ACs; and commercial ACs, such as variable refrigerant flow, DC inverter air-cooled chillers and mini chillers, chiller terminals, rooftop, and ATW and commercial heat pump water heaters.

Midea Group Fundamentals Summary

How do Midea Group's earnings and revenue compare to its market cap?
333 fundamental statistics
Market CapCN¥529.28b
Earnings (TTM)CN¥28.59b
Revenue (TTM)CN¥328.80b

18.5x

P/E Ratio

1.6x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
333 income statement (TTM)
RevenueCN¥328.80b
Cost of RevenueCN¥250.55b
Gross ProfitCN¥78.25b
ExpensesCN¥49.66b
EarningsCN¥28.59b

Last Reported Earnings

Sep 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)4.16
Gross Margin23.80%
Net Profit Margin8.70%
Debt/Equity Ratio45.9%

How did 333 perform over the long term?

See historical performance and comparison

Dividends

2.1%

Current Dividend Yield

38%

Payout Ratio

Valuation

Is Midea Group undervalued compared to its fair value and its price relative to the market?

36.6%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: 000333 (CN¥77.08) is trading below our estimate of fair value (CN¥121.58)

Significantly Below Fair Value: 000333 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 000333 is good value based on its PE Ratio (18.5x) compared to the CN Consumer Durables industry average (27.2x).

PE vs Market: 000333 is good value based on its PE Ratio (18.5x) compared to the CN market (36.1x).


Price to Earnings Growth Ratio

PEG Ratio: 000333 is poor value based on its PEG Ratio (1.7x)


Price to Book Ratio

PB vs Industry: 000333 is overvalued based on its PB Ratio (4.5x) compared to the CN Consumer Durables industry average (3.2x).


Future Growth

How is Midea Group forecast to perform in the next 1 to 3 years based on estimates from 25 analysts?

11.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 000333's forecast earnings growth (11.1% per year) is above the savings rate (3.3%).

Earnings vs Market: 000333's earnings (11.1% per year) are forecast to grow slower than the CN market (24.9% per year).

High Growth Earnings: 000333's earnings are forecast to grow, but not significantly.

Revenue vs Market: 000333's revenue (8.1% per year) is forecast to grow slower than the CN market (18.5% per year).

High Growth Revenue: 000333's revenue (8.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 000333's Return on Equity is forecast to be high in 3 years time (23.9%)


Past Performance

How has Midea Group performed over the past 5 years?

13.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 000333 has high quality earnings.

Growing Profit Margin: 000333's current net profit margins (8.7%) are lower than last year (9.1%).


Past Earnings Growth Analysis

Earnings Trend: 000333's earnings have grown by 13.9% per year over the past 5 years.

Accelerating Growth: 000333's earnings growth over the past year (15%) exceeds its 5-year average (13.9% per year).

Earnings vs Industry: 000333 earnings growth over the past year (15%) underperformed the Consumer Durables industry 21%.


Return on Equity

High ROE: 000333's Return on Equity (22.6%) is considered high.


Financial Health

How is Midea Group's financial position?


Financial Position Analysis

Short Term Liabilities: 000333's short term assets (CN¥259.1B) exceed its short term liabilities (CN¥188.7B).

Long Term Liabilities: 000333's short term assets (CN¥259.1B) exceed its long term liabilities (CN¥59.3B).


Debt to Equity History and Analysis

Debt Level: 000333 has more cash than its total debt.

Reducing Debt: 000333's debt to equity ratio has increased from 16.8% to 45.9% over the past 5 years.

Debt Coverage: 000333's debt is well covered by operating cash flow (55.1%).

Interest Coverage: 000333 earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


Dividend

What is Midea Group current dividend yield, its reliability and sustainability?

2.08%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: 000333's dividend (2.08%) is higher than the bottom 25% of dividend payers in the CN market (0.41%).

High Dividend: 000333's dividend (2.08%) is in the top 25% of dividend payers in the CN market (1.78%)


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, 000333 has been paying a dividend for less than 10 years.

Growing Dividend: 000333's dividend payments have increased, but the company has only paid a dividend for 8 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (38.5%), 000333's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: 000333's dividends in 3 years are forecast to be well covered by earnings (46.6% payout ratio).


Next Steps

Management

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

6.3yrs

Average management tenure


CEO

Hongbo Fang (54 yo)

9.42yrs

Tenure

CN¥12,130,000

Compensation

Mr. Hongbo Fang has been the Chief Executive Officer at Midea Group Co., Ltd. and served its President since August 25, 2012. Mr. Fang serves as the Principal of Wuxi Little Swan Company Limited.He has be...


Leadership Team

Experienced Management: 000333's management team is seasoned and experienced (6.3 years average tenure).


Board Members

Experienced Board: 000333's board of directors are considered experienced (5.9 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

Midea Group Co., Ltd.'s employee growth, exchange listings and data sources


Key Information

  • Name: Midea Group Co., Ltd.
  • Ticker: 333
  • Exchange: SZSE
  • Founded: 1968
  • Industry: Household Appliances
  • Sector: Consumer Durables
  • Implied Market Cap: CN¥529.281b
  • Shares outstanding: 6.87b
  • Website: https://www.midea-group.com

Number of Employees


Location

  • Midea Group Co., Ltd.
  • No. 6 Midea Avenue
  • Beijiao Town
  • Foshan
  • Guangdong Province
  • 528311
  • China

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/01/24 15:46
End of Day Share Price2022/01/24 00:00
Earnings2021/09/30
Annual Earnings2020/12/31


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.