SZSE:001914

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

China Merchants Property Operation and Service

Executive Summary

China Merchants Property Operation and Service Co., Ltd. More Details


Snowflake Analysis

High growth potential with solid track record and pays a dividend.

Share Price & News

How has China Merchants Property Operation and Service's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 001914 is not significantly more volatile than the rest of CN stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: 001914's weekly volatility (6%) has been stable over the past year.


Market Performance


7 Day Return

2.5%

1914

0.5%

CN Real Estate

-1.2%

CN Market


1 Year Return

18.1%

1914

-10.1%

CN Real Estate

25.4%

CN Market

Return vs Industry: 001914 exceeded the CN Real Estate industry which returned -10.1% over the past year.

Return vs Market: 001914 underperformed the CN Market which returned 25.4% over the past year.


Shareholder returns

1914IndustryMarket
7 Day2.5%0.5%-1.2%
30 Day12.1%-3.6%4.3%
90 Day-0.4%-7.8%5.8%
1 Year18.5%18.1%-7.2%-10.1%27.5%25.4%
3 Year162.7%151.5%-24.5%-30.6%23.2%17.0%
5 Year213.4%195.8%-9.4%-18.9%39.0%29.5%

Long-Term Price Volatility Vs. Market

How volatile is China Merchants Property Operation and Service's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is China Merchants Property Operation and Service undervalued compared to its fair value and its price relative to the market?

51.64x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: 001914 (CN¥24.67) is trading above our estimate of fair value (CN¥1.99)

Significantly Below Fair Value: 001914 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: 001914 is poor value based on its PE Ratio (51.6x) compared to the CN Real Estate industry average (14.5x).

PE vs Market: 001914 is poor value based on its PE Ratio (51.6x) compared to the CN market (35x).


Price to Earnings Growth Ratio

PEG Ratio: 001914 is poor value based on its PEG Ratio (1.5x)


Price to Book Ratio

PB vs Industry: 001914 is overvalued based on its PB Ratio (3.2x) compared to the CN Real Estate industry average (1.1x).


Next Steps

Future Growth

How is China Merchants Property Operation and Service forecast to perform in the next 1 to 3 years based on estimates from 9 analysts?

33.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 001914's forecast earnings growth (33.6% per year) is above the savings rate (3.3%).

Earnings vs Market: 001914's earnings (33.6% per year) are forecast to grow faster than the CN market (24.3% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: 001914's revenue (24.6% per year) is forecast to grow faster than the CN market (18.1% per year).

High Growth Revenue: 001914's revenue (24.6% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 001914's Return on Equity is forecast to be low in 3 years time (10.6%).


Next Steps

Past Performance

How has China Merchants Property Operation and Service performed over the past 5 years?

7.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 001914 has high quality earnings.

Growing Profit Margin: 001914's current net profit margins (5.8%) are higher than last year (2.5%).


Past Earnings Growth Analysis

Earnings Trend: 001914's earnings have grown by 7.7% per year over the past 5 years.

Accelerating Growth: 001914's earnings growth over the past year (187%) exceeds its 5-year average (7.7% per year).

Earnings vs Industry: 001914 earnings growth over the past year (187%) exceeded the Real Estate industry -3.3%.


Return on Equity

High ROE: 001914's Return on Equity (5.4%) is considered low.


Next Steps

Financial Health

How is China Merchants Property Operation and Service's financial position?


Financial Position Analysis

Short Term Liabilities: 001914's short term assets (CN¥5.6B) do not cover its short term liabilities (CN¥5.8B).

Long Term Liabilities: 001914's short term assets (CN¥5.6B) exceed its long term liabilities (CN¥2.1B).


Debt to Equity History and Analysis

Debt Level: 001914's debt to equity ratio (42%) is considered high.

Reducing Debt: 001914's debt to equity ratio has reduced from 294.6% to 42% over the past 5 years.

Debt Coverage: 001914's debt is not well covered by operating cash flow (13.2%).

Interest Coverage: 001914's interest payments on its debt are well covered by EBIT (4.1x coverage).


Balance Sheet


Next Steps

Dividend

What is China Merchants Property Operation and Service current dividend yield, its reliability and sustainability?

0.40%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: 001914's dividend (0.41%) is higher than the bottom 25% of dividend payers in the CN market (0.4%).

High Dividend: 001914's dividend (0.41%) is low compared to the top 25% of dividend payers in the CN market (1.81%).


Stability and Growth of Payments

Stable Dividend: 001914's dividend payments have been volatile in the past 10 years.

Growing Dividend: 001914's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (20.9%), 001914's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: 001914's dividends in 3 years are forecast to be well covered by earnings (31.2% payout ratio).


Next Steps

Management

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


CEO

China Merchants Property Operation and Service has no CEO, or we have no data on them.


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

China Merchants Property Operation and Service Co., Ltd.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: China Merchants Property Operation and Service Co., Ltd.
  • Ticker: 1914
  • Exchange: SZSE
  • Founded: 1985
  • Industry: Diversified Real Estate Activities
  • Sector: Real Estate
  • Market Cap: CN¥26.159b
  • Shares outstanding: 1.06b
  • Website: https://www.cmpo1914.com

Number of Employees


Location

  • China Merchants Property Operation and Service Co., Ltd.
  • Feiyada Building
  • 6th floor
  • Shenzhen
  • Guangdong Province
  • China

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
1914SZSE (Shenzhen Stock Exchange)YesDomestic SharesCNCNYMar 1995
1914XSEC (Shenzhen Stock Exchange - Shenzhen-Hong Kong Stock Connect)YesDomestic SharesCNCNYMar 1995

Biography

China Merchants Property Operation and Service Co., Ltd. develops and manages real estate properties. It offers institutional property management and asset management services. The company was formerly kno...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/01/17 09:20
End of Day Share Price2021/01/15 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.