SZSE:000333

Stock Analysis Report

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Executive Summary

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


Snowflake Analysis

Proven track record with adequate balance sheet and pays a dividend.


Similar Companies

Share Price & News

How has Midea Group's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 000333 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

3.7%

333

2.0%

CN Consumer Durables

-0.4%

CN Market


1 Year Return

32.2%

333

35.9%

CN Consumer Durables

28.6%

CN Market

Return vs Industry: 000333 underperformed the CN Consumer Durables industry which returned 35.9% over the past year.

Return vs Market: 000333 exceeded the CN Market which returned 28.6% over the past year.


Shareholder returns

333IndustryMarket
7 Day3.7%2.0%-0.4%
30 Day7.3%8.4%3.0%
90 Day8.5%8.9%-1.9%
1 Year35.8%32.2%38.6%35.9%30.8%28.6%
3 Year65.9%53.7%34.1%26.8%13.6%8.1%
5 Year346.8%287.8%112.6%93.7%10.1%2.6%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

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

23.44x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: 000333 (CN¥77.87) is trading above our estimate of fair value (CN¥62.8)

Significantly Below Fair Value: 000333 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: 000333 is good value based on its PE Ratio (23.4x) compared to the CN Consumer Durables industry average (33.6x).

PE vs Market: 000333 is good value based on its PE Ratio (23.4x) compared to the CN market (39.6x).


Price to Earnings Growth Ratio

PEG Ratio: 000333 is poor value based on its PEG Ratio (1.9x)


Price to Book Ratio

PB vs Industry: 000333 is overvalued based on its PB Ratio (5.1x) compared to the CN Consumer Durables industry average (3.1x).


Next Steps

Future Growth

How is Midea Group forecast to perform in the next 1 to 3 years based on estimates from 27 analysts?

12.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 000333's forecast earnings growth (12.6% per year) is above the savings rate (3.3%).

Earnings vs Market: 000333's earnings (12.6% per year) are forecast to grow slower than the CN market (23.9% per year).

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

Revenue vs Market: 000333's revenue (8.7% per year) is forecast to grow slower than the CN market (17.7% per year).

High Growth Revenue: 000333's revenue (8.7% 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 (21.2%)


Next Steps

Past Performance

How has Midea Group performed over the past 5 years?

14.4%

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 higher than last year (8.3%).


Past Earnings Growth Analysis

Earnings Trend: 000333's earnings have grown by 14.4% per year over the past 5 years.

Accelerating Growth: 000333's earnings growth over the past year (1.9%) is below its 5-year average (14.4% per year).

Earnings vs Industry: 000333 earnings growth over the past year (1.9%) underperformed the Consumer Durables industry 5.3%.


Return on Equity

High ROE: 000333's Return on Equity (20.7%) is considered high.


Next Steps

Financial Health

How is Midea Group's financial position?


Financial Position Analysis

Short Term Liabilities: 000333's short term assets (CN¥230.8B) exceed its short term liabilities (CN¥176.1B).

Long Term Liabilities: 000333's short term assets (CN¥230.8B) exceed its long term liabilities (CN¥46.2B).


Debt to Equity History and Analysis

Debt Level: 000333's debt to equity ratio (60.2%) is considered high.

Reducing Debt: 000333's debt to equity ratio has increased from 20.1% to 60.2% over the past 5 years.

Debt Coverage: 000333's debt is well covered by operating cash flow (52.1%).

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


Balance Sheet


Next Steps

Dividend

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

2.05%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: 000333's dividend (2.05%) is higher than the bottom 25% of dividend payers in the CN market (0.36%).

High Dividend: 000333's dividend (2.05%) is in the top 25% of dividend payers in the CN market (1.67%)


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 7 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (48.2%), 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 (47.1% payout ratio).


Next Steps

  • Explore strong dividend paying companies in the Consumer Durables industry.

Management

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

3.8yrs

Average management tenure


CEO

Hongbo Fang (53 yo)

8.17yrs

Tenure

CN¥9,630,000

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

NamePositionTenureCompensationOwnership
Hongbo Fang
Chairman & CEO8.17yrsCN¥9.63m1.68%
CN¥ 9.1b
Zheng Zhong
Director of Financeno dataCN¥2.40m0.0030%
CN¥ 16.5m
Helmut Zodl
Chief Financial Officerno dataCN¥2.20mno data
Ziqiang Hu
VP & CTOno dataCN¥4.71m0.0057%
CN¥ 31.1m
Xiaoyi Zhang
VP, Chief Information Officer & IT Directorno dataCN¥4.46m0.0095%
CN¥ 51.9m
Peng Jiang
Board Secretary & Investor Relations Directorno dataCN¥2.41m0.0051%
CN¥ 27.9m
Jinliang Wang
VP & Director of the Department of Legal Affairsno dataCN¥4.12mno data
Yanmin Gu
VP & Non-Independent Directorno dataCN¥3.48mno data
Mingguang Xiao
Vice Presidentno dataCN¥3.27m0.0066%
CN¥ 35.8m
Bitong Yin
VP, GM of Residential AC Division & Executive Non-Independent Director3.5yrsCN¥7.65mno data
Jianguo Wang
Vice President2.83yrsCN¥4.34mno data
Lihong Chen
Head of Accounting Departmentno datano datano data

3.8yrs

Average Tenure

50yo

Average Age

Experienced Management: 000333's management team is considered experienced (3.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Hongbo Fang
Chairman & CEO8.17yrsCN¥9.63m1.68%
CN¥ 9.1b
Yanmin Gu
VP & Non-Independent Directorno dataCN¥3.48mno data
Bitong Yin
VP, GM of Residential AC Division & Executive Non-Independent Director3.5yrsCN¥7.65mno data
Min Liu
Chairman of the Supervisory Committee and CEO Assistant & HR Director4.58yrsno datano data
Jun Zhao
Non-Employee Supervisor6.5yrsno datano data
Jianfeng He
Non-Independent Director8.17yrsno datano data
Huiming Liang
Employee Represent Supervisor3.58yrsno datano data
Gang Yu
Non-Independent Directorno dataCN¥450.00kno data
Yunkui Xue
Independent Directorno dataCN¥450.00kno data
Qingyou Guan
Independent Directorno dataCN¥450.00kno data
Jian Han
Independent Directorno dataCN¥450.00kno data

5.5yrs

Average Tenure

52yo

Average Age

Experienced Board: 000333's board of directors are considered experienced (5.5 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

Midea Group Co., Ltd.'s company bio, 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
  • Market Cap: CN¥543.494b
  • Shares outstanding: 6.98b
  • 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

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
333SZSE (Shenzhen Stock Exchange)YesDomestic SharesCNCNYSep 2013
333XSEC (Shenzhen Stock Exchange - Shenzhen-Hong Kong Stock Connect)YesDomestic SharesCNCNYSep 2013

Biography

Midea Group Co., Ltd., together with its subsidiaries, manufactures and sells home appliances, and robotic and automatic systems in China and internationally. It operates through four segments: Heating & V ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/30 15:24
End of Day Share Price2020/10/30 00:00
Earnings2020/06/30
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.