DB:ZTX

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Zhuzhou CRRC Times Electric

Executive Summary

Zhuzhou CRRC Times Electric Co., Ltd., together with its subsidiaries, manufactures and sells train-borne electrical systems and electrical components primarily in Mainland China and internationally.


Snowflake Analysis

Very undervalued with excellent balance sheet and pays a dividend.


Similar Companies

Share Price & News

How has Zhuzhou CRRC Times Electric's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: ZTX's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-6.3%

ZTX

6.2%

DE Electrical

5.0%

DE Market


1 Year Return

-49.5%

ZTX

29.3%

DE Electrical

4.1%

DE Market

Return vs Industry: ZTX underperformed the German Electrical industry which returned 29.3% over the past year.

Return vs Market: ZTX underperformed the German Market which returned 4.1% over the past year.


Shareholder returns

ZTXIndustryMarket
7 Day-6.3%6.2%5.0%
30 Day-12.6%20.2%13.8%
90 Day-25.8%1.7%3.3%
1 Year-48.9%-49.5%29.7%29.3%5.8%4.1%
3 Year-46.5%-48.7%-32.6%-34.8%-0.9%-8.5%
5 Year-64.2%-66.1%-22.2%-27.4%10.5%-3.6%

Price Volatility Vs. Market

How volatile is Zhuzhou CRRC Times Electric's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Zhuzhou CRRC Times Electric undervalued compared to its fair value and its price relative to the market?

34.1%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: ZTX (€2.36) is trading below our estimate of fair value (€3.58)

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


Price To Earnings Ratio

PE vs Industry: ZTX is good value based on its PE Ratio (9.1x) compared to the Electrical industry average (25.5x).

PE vs Market: ZTX is good value based on its PE Ratio (9.1x) compared to the German market (20.1x).


Price to Earnings Growth Ratio

PEG Ratio: ZTX is good value based on its PEG Ratio (0.9x)


Price to Book Ratio

PB vs Industry: ZTX is good value based on its PB Ratio (1x) compared to the DE Electrical industry average (2.8x).


Next Steps

Future Growth

How is Zhuzhou CRRC Times Electric forecast to perform in the next 1 to 3 years based on estimates from 14 analysts?

10.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ZTX's forecast earnings growth (10.2% per year) is above the savings rate (0.2%).

Earnings vs Market: ZTX's earnings (10.2% per year) are forecast to grow slower than the German market (22.7% per year).

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

Revenue vs Market: ZTX's revenue (8.9% per year) is forecast to grow faster than the German market (5.7% per year).

High Growth Revenue: ZTX's revenue (8.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ZTX's Return on Equity is forecast to be low in 3 years time (11.7%).


Next Steps

Past Performance

How has Zhuzhou CRRC Times Electric performed over the past 5 years?

-2.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ZTX has high quality earnings.

Growing Profit Margin: ZTX's current net profit margins (15.9%) are lower than last year (16.8%).


Past Earnings Growth Analysis

Earnings Trend: ZTX's earnings have declined by -2.2% per year over the past 5 years.

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

Earnings vs Industry: ZTX had negative earnings growth (-5.4%) over the past year, making it difficult to compare to the Electrical industry average (60.2%).


Return on Equity

High ROE: ZTX's Return on Equity (11.1%) is considered low.


Next Steps

Financial Health

How is Zhuzhou CRRC Times Electric's financial position?


Financial Position Analysis

Short Term Liabilities: ZTX's short term assets (CN¥27.3B) exceed its short term liabilities (CN¥9.7B).

Long Term Liabilities: ZTX's short term assets (CN¥27.3B) exceed its long term liabilities (CN¥1.4B).


Debt to Equity History and Analysis

Debt Level: ZTX's debt to equity ratio (1.7%) is considered satisfactory.

Reducing Debt: ZTX's debt to equity ratio has increased from 0.7% to 1.7% over the past 5 years.

Debt Coverage: ZTX's debt is well covered by operating cash flow (478.3%).

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


Balance Sheet


Next Steps

Dividend

What is Zhuzhou CRRC Times Electric's current dividend yield, its reliability and sustainability?

2.34%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: ZTX's dividend (2.34%) is higher than the bottom 25% of dividend payers in the German market (1.26%).

High Dividend: ZTX's dividend (2.34%) is low compared to the top 25% of dividend payers in the German market (3.8%).


Stability and Growth of Payments

Stable Dividend: ZTX's dividends per share have been stable in the past 10 years.

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


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (21.3%), ZTX's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: ZTX's dividends in 3 years are forecast to be well covered by earnings (20.4% payout ratio).


Next Steps

Management

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

4.4yrs

Average management tenure


CEO

Ke'an Liu (48yo)

4.42yrs

Tenure

CN¥881,246

Compensation

Mr. Ke'an Liu has been General Manager of Zhuzhou Csr Times Electric Co., Ltd. at CSR Zhuzhou Institute Co., Ltd. since February 11, 2016. Mr. Liu serves as General Manager of Zhuzhou CRRC Times Electric  ...


CEO Compensation Analysis

Compensation vs Market: Ke'an's total compensation ($USD124.10K) is below average for companies of similar size in the German market ($USD2.40M).

Compensation vs Earnings: Ke'an's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Donglin Li
Chairman of the Board1.92yrsno datano data
Ke'an Liu
GM & Executive Director4.42yrsCN¥881.25kno data
Shouyi Yang
Vice Chairman1.92yrsno datano data
Wu Yan
Vice GM9.5yrsCN¥938.47kno data
Hua Zhang
CFO & Vice GM7.08yrsno datano data
Yingjing Zang
Head of Accounting Departmentno datano datano data
Yongneng Tan
Chief Administrative Officer & Chairman of the Labour Union2.42yrsno datano data
Daxi Liu
Vice General Manager8yrsno datano data
Jie Niu
Vice GM & Party Secretary8yrsno datano data
Changqi Yan
Vice General Manager4.42yrsno datano data

4.4yrs

Average Tenure

51yo

Average Age

Experienced Management: ZTX's management team is considered experienced (4.4 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Donglin Li
Chairman of the Board1.92yrsno datano data
Ke'an Liu
GM & Executive Director4.42yrsCN¥881.25kno data
Shouyi Yang
Vice Chairman1.92yrsno datano data
Wu Yan
Vice GM9.5yrsCN¥938.47kno data
Ping-Wing Pao
Independent Non Executive Director14.75yrsCN¥273.42kno data
Kam Wing Chan
Independent Non Executive Director14.75yrsCN¥273.42kno data
Chunru Liu
Independent Non-Executive Director12yrsCN¥119.04kno data
Xinning Zhang
Non-Executive Director2.83yrsno datano data
Xiaoming Chen
Independent Non-Executive Director3.25yrsCN¥119.04kno data
Lüe Li
Chairman of Supervisory Committee1yrno datano data

3.8yrs

Average Tenure

53.5yo

Average Age

Experienced Board: ZTX's board of directors are considered experienced (3.8 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.


Recent Insider Transactions

Ownership Breakdown

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


Top Shareholders

Company Information

Zhuzhou CRRC Times Electric Co., Ltd.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Zhuzhou CRRC Times Electric Co., Ltd.
  • Ticker: ZTX
  • Exchange: DB
  • Founded: 2005
  • Industry: Electrical Components and Equipment
  • Sector: Capital Goods
  • Market Cap: HK$24.626b
  • Listing Market Cap: HK$2.840b
  • Shares outstanding: 1.18b
  • Website: https://www.tec.crrczic.cc

Number of Employees


Location

  • Zhuzhou CRRC Times Electric Co., Ltd.
  • Unit 1106
  • 11th Floor
  • Wan Chai
  • Hong Kong

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
3898SEHK (The Stock Exchange of Hong Kong Ltd.)YesForeign Shares-Foreign ListedHKHKDDec 2006
ZTXDB (Deutsche Boerse AG)YesForeign Shares-Foreign ListedDEEURDec 2006
ZHUZ.FOTCPK (Pink Sheets LLC)YesForeign Shares-Foreign ListedUSUSDDec 2006
3898SHSC (Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect)YesForeign Shares-Foreign ListedHKHKDDec 2006
3898SZSC (The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect)YesForeign Shares-Foreign ListedHKHKDDec 2006
ZHUZ.YOTCPK (Pink Sheets LLC)ADRUSUSDAug 2012

Biography

Zhuzhou CRRC Times Electric Co., Ltd., together with its subsidiaries, manufactures and sells train-borne electrical systems and electrical components primarily in Mainland China and internationally. The company researches, develops, manufactures, and sells locomotive train power converters, control systems, urban railway train electrical systems, and other train-borne electrical systems; and electric components for the railway industry, urban railway industry, and non-railway purposes. Its products for rolling stock and railways include EMU, locomotive, and mass transit systems; and components products consist of semiconductors, resistors, reactors, radiators, sensors, power capacitors, heatsinks, and oil dampers. The company’s energy and industrial products comprise marine engineering, electric vehicle, and inverter and converter systems, as well as provides railway maintenance and construction machines. The company was formerly known as Zhuzhou CSR Times Electric Co., Ltd. and changed its name to Zhuzhou CRRC Times Electric Co., Ltd. in March 2016. The company was founded in 2005 and is based in Wanchai, Hong Kong. Zhuzhou CRRC Times Electric Co., Ltd. is a subsidiary of CRRC Zhuzhou Institute Co., Ltd. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/06/03 08:46
End of Day Share Price2020/06/02 00:00
Earnings2020/03/31
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.