Midea Group
Market Cap
CN¥336.5b
Last Updated
2020/04/09 19:00 UTC
Data Sources
Company Financials +
Executive Summary
Midea Group Co., Ltd., together with its subsidiaries, manufactures and sells home appliances, and robotic and automatic systems in China and internationally.
Rewards
Risk Analysis
Snowflake Analysis
Outstanding track record, good value 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
-1.3%
333
0.5%
CN Consumer Durables
2.7%
CN Market
1 Year Return
-7.9%
333
-8.0%
CN Consumer Durables
-4.5%
CN Market
Return vs Industry: 000333 exceeded the CN Consumer Durables industry which returned -11.3% over the past year.
Return vs Market: 000333 matched the CN Market which returned -7% over the past year.
Shareholder returns
| 333 | Industry | Market | |
|---|---|---|---|
| 7 Day | -1.3% | 0.5% | 2.7% |
| 30 Day | -12.7% | -13.7% | -6.4% |
| 90 Day | -19.5% | -16.2% | -4.5% |
| 1 Year | -5.4%-7.9% | -6.1%-8.0% | -3.0%-4.5% |
| 3 Year | 58.4%46.5% | 12.4%6.5% | -9.7%-13.3% |
| 5 Year | 146.9%116.9% | 37.6%26.1% | -20.3%-25.2% |
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?
35.3%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: 000333 (CN¥48.3) is trading below our estimate of fair value (CN¥74.62)
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 (13.5x) compared to the Consumer Durables industry average (26.7x).
PE vs Market: 000333 is good value based on its PE Ratio (13.5x) compared to the CN market (33.7x).
Price to Earnings Growth Ratio
PEG Ratio: 000333 is poor value based on its PEG Ratio (1.3x)
Price to Book Ratio
PB vs Industry: 000333 is overvalued based on its PB Ratio (3.4x) compared to the CN Consumer Durables industry average (2.7x).
Next Steps
Future Growth
How is Midea Group forecast to perform in the next 1 to 3 years based on estimates from 25 analysts?
10.4%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: 000333's forecast earnings growth (10.4% per year) is above the savings rate (3.2%).
Earnings vs Market: 000333's earnings (10.4% per year) are forecast to grow slower than the CN market (20.7% per year).
High Growth Earnings: 000333's earnings are forecast to grow, but not significantly.
Revenue vs Market: 000333's revenue (8.2% per year) is forecast to grow slower than the CN market (15.8% per year).
High Growth Revenue: 000333's revenue (8.2% 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 low in 3 years time (19.7%).
Next Steps
Past Performance
How has Midea Group performed over the past 5 years?
15.9%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: 000333 has high quality earnings.
Growing Profit Margin: 000333's current net profit margins (8.6%) are higher than last year (7.8%).
Past Earnings Growth Analysis
Earnings Trend: 000333's earnings have grown by 15.9% per year over the past 5 years.
Accelerating Growth: 000333's earnings growth over the past year (17%) exceeds its 5-year average (15.9% per year).
Earnings vs Industry: 000333 earnings growth over the past year (17%) exceeded the Consumer Durables industry 11.7%.
Return on Equity
High ROE: 000333's Return on Equity (23.9%) is considered high.
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Financial Health
How is Midea Group's financial position?
Financial Position Analysis
Short Term Liabilities: 000333's short term assets (CN¥200.1B) exceed its short term liabilities (CN¥129.4B).
Long Term Liabilities: 000333's short term assets (CN¥200.1B) exceed its long term liabilities (CN¥51.5B).
Debt to Equity History and Analysis
Debt Level: 000333's debt to equity ratio (41.3%) is considered high.
Reducing Debt: 000333's debt to equity ratio has increased from 26.7% to 41.3% over the past 5 years.
Debt Coverage: 000333's debt is well covered by operating cash flow (88.3%).
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's current dividend yield, its reliability and sustainability?
2.70%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: 000333's dividend (2.7%) is higher than the bottom 25% of dividend payers in the CN market (0.44%).
High Dividend: 000333's dividend (2.7%) is in the top 25% of dividend payers in the CN market (1.96%)
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 6 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (36.5%), 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 (49% payout ratio).
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Management
How experienced are the management team and are they aligned to shareholders interests?
3.3yrs
Average management tenure
CEO
Hongbo Fang (52yo)
7.67s
Tenure
CN¥8,080,000
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
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman & CEO | 7.67yrs | CN¥8.08m | 1.97% CN¥6.6b | |
| VP & CTO | no data | CN¥3.20m | no data | |
| VP, Chief Information Officer & IT Director | no data | CN¥3.85m | no data | |
| Board Secretary & Investor Relations Director | no data | CN¥1.70m | 0.0066% CN¥22.1m | |
| VP & Director of the Department of Legal Affairs | no data | CN¥2.17m | no data | |
| VP & Non-Independent Director | no data | CN¥2.84m | no data | |
| Vice President | no data | CN¥2.10m | no data | |
| VP, GM of Residential AC Division & Executive Non-Independent Director | 3yrs | CN¥5.31m | no data | |
| Vice President | 2.33yrs | CN¥2.96m | no data | |
| Director of Finance | no data | no data | no data |
3.3yrs
Average Tenure
50yo
Average Age
Experienced Management: 000333's management team is considered experienced (3.3 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman & CEO | 7.67yrs | CN¥8.08m | 1.97% CN¥6.6b | |
| VP & Non-Independent Director | no data | CN¥2.84m | no data | |
| VP, GM of Residential AC Division & Executive Non-Independent Director | 3yrs | CN¥5.31m | no data | |
| Chairman of the Supervisory Committee and CEO Assistant & HR Director | 4.17yrs | no data | no data | |
| Non-Employee Supervisor | 6yrs | no data | no data | |
| Non-Independent Director | 7.67yrs | no data | no data | |
| Non-Independent Director | no data | no data | no data | |
| Independent Director | no data | no data | no data | |
| Independent Director | no data | no data | no data | |
| Independent Director | no data | no data | no data |
6.0yrs
Average Tenure
51.5yo
Average Age
Experienced Board: 000333's board of directors are considered experienced (6 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¥336.548b
- Shares outstanding: 6.97b
- 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
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| 333 | SZSE (Shenzhen Stock Exchange) | Yes | Domestic Shares | CN | CNY | Sep 2013 |
| 333 | XSEC (Shenzhen Stock Exchange - Shenzhen-Hong Kong Stock Connect) | Yes | Domestic Shares | CN | CNY | Sep 2013 |
Biography
Midea Group Co., Ltd., together with its subsidiaries, manufactures and sells home appliances, and robotic and automatic systems in China and internationally. The company operates through four segments: Heating & Ventilation, as well as Air-Conditioner; Consumer Appliances; Robotics and Automatic Systems; and Others. The company offers split, portable, and dehumidifier residential air conditioners (ACs); light commercial ACs, including cassette, duct, ceiling and floor, console, floor standing, and AHU; and commercial ACs, such as VRF and chiller, large split, rooftop packaged, FCU, AHU, and heat pump solutions. It also provides 3+ door, side by side, top mount, and single door refrigerators, as well as bottom freezers, freezers, wine coolers, and others; laundry products comprising washing machines and dryers; commercial ovens; and kitchen appliance products, such as rice cookers, microwaves, ovens and mini ovens, hoods, hobs, slow cookers, bread makers, electric steamers, dishwashers, and food waste disposers. In addition, the company offers home solutions, such as water heaters, fans, heaters, and vacuum and steam cleaners; compact fluorescent lights, LED lamp sources, LED luminaries, and electrical series products; and rotary and rceip compressors. Further, the company provides robots and automation systems. It markets its products under the Midea, Little Swan, MDV, Hualing, Welling, and GMCC brand names. Midea Group Co., Ltd. was founded in 1968 and is headquartered in Foshan, China.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/04/09 19:00 |
| End of Day Share Price | 2020/04/09 00:00 |
| Earnings | 2019/09/30 |
| Annual Earnings | 2018/12/31 |
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.