DB:TIA

Stock Analysis Report

Tianjin Capital Environmental Protection Group

Executive Summary

Tianjin Capital Environmental Protection Group Company Limited, together with its subsidiaries, engages in the sewage treatment and construction of the sewage treatment plants in the People’s Republic of China.


Snowflake Analysis

Mediocre balance sheet second-rate dividend payer.

Share Price & News

How has Tianjin Capital Environmental Protection Group's share price performed over time and what events caused price changes?


Latest Share Price and Events

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


Market Performance


7 Day Return

2.1%

TIA

1.3%

DE Commercial Services

-0.2%

DE Market


1 Year Return

-18.8%

TIA

-6.5%

DE Commercial Services

13.7%

DE Market

Return vs Industry: TIA underperformed the German Commercial Services industry which returned -4.7% over the past year.

Return vs Market: TIA underperformed the German Market which returned 14.4% over the past year.


Shareholder returns

TIAIndustryMarket
7 Day2.1%1.3%-0.2%
30 Day-7.5%-1.6%0.3%
90 Day-5.7%3.6%3.7%
1 Year-15.2%-18.8%-3.2%-6.5%17.2%13.7%
3 Year-39.6%-43.3%13.0%3.2%15.4%5.3%
5 Year-44.8%-49.9%3.6%-10.9%21.3%4.7%

Price Volatility Vs. Market

How volatile is Tianjin Capital Environmental Protection Group's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Tianjin Capital Environmental Protection Group undervalued compared to its fair value and its price relative to the market?

21.61x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: TIA (€0.3) is trading above our estimate of fair value (€0.07)

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


Price To Earnings Ratio

PE vs Industry: TIA is good value based on its PE Ratio (21.6x) compared to the Commercial Services industry average (31.8x).

PE vs Market: TIA is poor value based on its PE Ratio (21.6x) compared to the German market (20.7x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate TIA's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: TIA is good value based on its PB Ratio (1.7x) compared to the DE Commercial Services industry average (3.3x).


Next Steps

Future Growth

How is Tianjin Capital Environmental Protection Group forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

28.8%

Forecasted Commercial Services industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Tianjin Capital Environmental Protection Group has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Tianjin Capital Environmental Protection Group performed over the past 5 years?

9.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TIA has a high level of non-cash earnings.

Growing Profit Margin: TIA's current net profit margins (17.7%) are lower than last year (22.1%).


Past Earnings Growth Analysis

Earnings Trend: TIA's earnings have grown by 9.8% per year over the past 5 years.

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

Earnings vs Industry: TIA had negative earnings growth (-8.5%) over the past year, making it difficult to compare to the Commercial Services industry average (10.8%).


Return on Equity

High ROE: TIA's Return on Equity (7.1%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Tianjin Capital Environmental Protection Group's financial position?


Financial Position Analysis

Short Term Liabilities: TIA's short term assets (CN¥4.4B) exceed its short term liabilities (CN¥3.1B).

Long Term Liabilities: TIA's short term assets (CN¥4.4B) do not cover its long term liabilities (CN¥6.9B).


Debt to Equity History and Analysis

Debt Level: TIA's debt to equity ratio (78.7%) is considered high.

Reducing Debt: TIA's debt to equity ratio has reduced from 79.8% to 78.7% over the past 5 years.

Debt Coverage: TIA's debt is not well covered by operating cash flow (17.4%).

Interest Coverage: TIA's interest payments on its debt are well covered by EBIT (4.5x coverage).


Balance Sheet

Inventory Level: TIA has a low level of unsold assets or inventory.

Debt Coverage by Assets: TIA's debt is not covered by short term assets (assets are 0.8x debt).


Next Steps

Dividend

What is Tianjin Capital Environmental Protection Group's current dividend yield, its reliability and sustainability?

1.49%

Current Dividend Yield


Dividend Yield vs Market

company1.5%marketbottom25%1.3%markettop25%3.7%industryaverage3.4%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: TIA's dividend (1.49%) is higher than the bottom 25% of dividend payers in the German market (1.32%).

High Dividend: TIA's dividend (1.49%) is low compared to the top 25% of dividend payers in the German market (3.63%).


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (32.1%), TIA's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

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

6.5yrs

Average management tenure


CEO

Fusheng Tang (46yo)

3.1yrs

Tenure

CN¥836,000

Compensation

Mr. Fusheng Tang has been General Manager of Tianjin Capital Environmental Protection Group Company Limited since January 26, 2017. Mr. Tang served as Deputy General Manager of Tianjin Capital Environmenta ...


CEO Compensation Analysis

Compensation vs Market: Fusheng's total compensation ($USD119.04K) is below average for companies of similar size in the German market ($USD1.51M).

Compensation vs Earnings: Fusheng's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Yujun Liu
Chairman of the Board4.9yrsCN¥877.00kno data
Fusheng Tang
General Manager3.1yrsCN¥836.00kno data
Yilin Peng
Chief Accountant & Assistant GM4.1yrsCN¥742.00kno data
Yana Fu
Deputy GM & Manager of the Human Resources Department9.3yrsCN¥724.00kno data
Jing Wang
Executive Director1.2yrsCN¥30.00kno data
Bo Niu
Deputy Chief Economist1.2yrsCN¥25.00kno data
Lipin Qi
Chief Economist and Manager of Investment & Management Department10.1yrsCN¥666.50kno data
Hongyan Lu
Chairwoman of Supervisory Committee & General Counsel1.2yrsno datano data
Qiang Zhang
Deputy General Manager10.9yrsCN¥721.90kno data
Yang Li
Deputy GM & General Manager of Northwest Region9yrsCN¥556.30kno data

6.5yrs

Average Tenure

48yo

Average Age

Experienced Management: TIA's management team is seasoned and experienced (6.5 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Yujun Liu
Chairman of the Board4.9yrsCN¥877.00kno data
Jing Wang
Executive Director1.2yrsCN¥30.00kno data
Bo Niu
Deputy Chief Economist1.2yrsCN¥25.00kno data
Hongyan Lu
Chairwoman of Supervisory Committee & General Counsel1.2yrsno datano data
Baolan Wu
Head of the Party-Masses Department & Supervisor8.5yrsCN¥267.80kno data
Jing Niu
Manager of Legal & Audit Department and Supervisor4.2yrsno datano data
XiaoFeng Di
Independent Non-Executive Director1.2yrsCN¥8.00kno data
Xiangfei Wang
Independent Non-Executive Director4.2yrsCN¥220.00kno data
Yongqing Guo
Independent Non-Executive Director4.2yrsCN¥220.00kno data
Zhongpeng Yu
Non-Executive Director1.8yrsno datano data

3.0yrs

Average Tenure

49yo

Average Age

Experienced Board: TIA's board of directors are not considered experienced ( 3 years average tenure), which suggests a new board.


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

Tianjin Capital Environmental Protection Group Company Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Tianjin Capital Environmental Protection Group Company Limited
  • Ticker: TIA
  • Exchange: DB
  • Founded: 1993
  • Industry: Environmental and Facilities Services
  • Sector: Commercial Services
  • Market Cap: CN¥8.540b
  • Listing Market Cap: CN¥1.127b
  • Shares outstanding: 1.43b
  • Website: https://www.tjcep.com

Number of Employees


Location

  • Tianjin Capital Environmental Protection Group Company Limited
  • TCEP Building
  • 76 Weijin South Road
  • Tianjin
  • 300381
  • China

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
1065SEHK (The Stock Exchange of Hong Kong Ltd.)Foreign Shares-Foreign ListedHKHKDJun 1994
TIADB (Deutsche Boerse AG)Foreign Shares-Foreign ListedDEEURJun 1994
TNJI.FOTCPK (Pink Sheets LLC)Foreign Shares-Foreign ListedUSUSDJun 1994
1065SHSC (Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect)Foreign Shares-Foreign ListedHKHKDJun 1994
1065SZSC (The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect)Foreign Shares-Foreign ListedHKHKDJun 1994
600874SHSE (Shanghai Stock Exchange)YesDomestic SharesCNCNYJul 1996
600874XSSC (Shanghai Stock Exchange - Shanghai - Hong Kong Stock Connect)YesDomestic SharesCNCNYJul 1996

Biography

Tianjin Capital Environmental Protection Group Company Limited, together with its subsidiaries, engages in the sewage treatment and construction of the sewage treatment plants in the People’s Republic of China. The company operates through Processing of Sewage Water; Recycled Water; Pipeline Connection; Heating and Cooling Service; Sales of Tap Water; Sale of Environmental Protection Equipment; and All Other segments. It also provides toll collection and engineering consulting services; environment governance, technical consulting services, etc.; drain off for urban area; technical consulting for water recycling business; and energy saving and research, consulting and transfer, and property management services, as well as invests in construction projects. The company was founded in 1993 and is based in Tianjin, the People’s Republic of China. Tianjin Capital Environmental Protection Group Company Limited is a subsidiary of Tianjin Municipal Investment Company Limited. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/20 20:57
End of Day Share Price2020/02/20 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


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.