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Texwinca Holdings

DB:TXW
Snowflake Description

Undervalued with excellent balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
TXW
DB
HK$4B
Market Cap
  1. Home
  2. DE
  3. Consumer Durables
Company description

Texwinca Holdings Limited engages in the production, dyeing, and sale of knitted fabrics and yarns. The last earnings update was 110 days ago. More info.


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TXW Share Price and Events
7 Day Returns
-5%
DB:TXW
-1.4%
DE Luxury
1.3%
DE Market
1 Year Returns
-30.9%
DB:TXW
7.5%
DE Luxury
-7.6%
DE Market
TXW Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Texwinca Holdings (TXW) -5% -6.5% 7.4% -30.9% -65.5% -58.1%
DE Luxury -1.4% 5.2% 11.8% 7.5% 91.6% 112%
DE Market 1.3% 2.8% 7.5% -7.6% 9.3% 13.3%
1 Year Return vs Industry and Market
  • TXW underperformed the Luxury industry which returned 7.5% over the past year.
  • TXW underperformed the Market in Germany which returned -7.6% over the past year.
Price Volatility
TXW
Industry
5yr Volatility vs Market

Value

 Is Texwinca Holdings undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Texwinca Holdings to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data    Our intrinsic value calculation method has changed recently, learn more here.

Below are the data sources, inputs and calculation used to determine the intrinsic value for Texwinca Holdings.

DB:TXW Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.2%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:TXW
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6.7%
Luxury Unlevered Beta Simply Wall St/ S&P Global 0.69
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.686 (1 + (1- 25%) (29.93%))
0.893
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.89
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.893 * 6.65%)
6.17%

Discounted Cash Flow Calculation for DB:TXW using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Texwinca Holdings is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:TXW DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (HKD, Millions) Source Present Value
Discounted (@ 6.17%)
2019 148.00 Analyst x1 139.40
2020 519.00 Analyst x1 460.47
2021 442.00 Analyst x1 369.38
2022 392.69 Est @ -11.16% 309.11
2023 362.29 Est @ -7.74% 268.62
2024 342.91 Est @ -5.35% 239.48
2025 330.30 Est @ -3.68% 217.28
2026 322.02 Est @ -2.51% 199.53
2027 316.59 Est @ -1.69% 184.77
2028 313.08 Est @ -1.11% 172.11
Present value of next 10 years cash flows HK$2,560.14
DB:TXW DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= HK$313.08 × (1 + 0.23%) ÷ (6.17% – 0.23%)
HK$5,284.61
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= HK$5,284.61 ÷ (1 + 6.17%)10
HK$2,905.14
DB:TXW Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= HK$2,560.14 + HK$2,905.14
HK$5,465.28
Equity Value per Share
(HKD)
= Total value / Shares Outstanding
= HK$5,465.28 / 1,381.70
HK$0.42
DB:TXW Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:TXW represents 0.10704x of SEHK:321
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.10704x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 3.96 x 0.10704
€0.42
Value per share (EUR) From above. €0.42
Current discount Discount to share price of €0.30
= -1 x (€0.30 - €0.42) / €0.42
28.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Texwinca Holdings is available for.
Intrinsic value
28%
Share price is €0.304 vs Future cash flow value of €0.4234
Current Discount Checks
For Texwinca Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Texwinca Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Texwinca Holdings's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Texwinca Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Texwinca Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:TXW PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in HKD HK$0.23
SEHK:321 Share Price ** SEHK (2019-03-19) in HKD HK$2.84
Germany Luxury Industry PE Ratio Median Figure of 7 Publicly-Listed Luxury Companies 24.6x
Germany Market PE Ratio Median Figure of 423 Publicly-Listed Companies 19.26x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Texwinca Holdings.

DB:TXW PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:321 Share Price ÷ EPS (both in HKD)

= 2.84 ÷ 0.23

12.29x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Texwinca Holdings is good value based on earnings compared to the DE Luxury industry average.
  • Texwinca Holdings is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Texwinca Holdings's expected growth come at a high price?
Raw Data
DB:TXW PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 12.29x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
19%per year
Europe Luxury Industry PEG Ratio Median Figure of 39 Publicly-Listed Luxury Companies 1.77x
Germany Market PEG Ratio Median Figure of 276 Publicly-Listed Companies 1.46x

*Line of best fit is calculated by linear regression .

DB:TXW PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 12.29x ÷ 19%

0.65x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Texwinca Holdings is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Texwinca Holdings's assets?
Raw Data
DB:TXW PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in HKD HK$3.90
SEHK:321 Share Price * SEHK (2019-03-19) in HKD HK$2.84
Germany Luxury Industry PB Ratio Median Figure of 11 Publicly-Listed Luxury Companies 1.5x
Germany Market PB Ratio Median Figure of 570 Publicly-Listed Companies 1.76x
DB:TXW PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:321 Share Price ÷ Book Value per Share (both in HKD)

= 2.84 ÷ 3.90

0.73x

* Primary Listing of Texwinca Holdings.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Texwinca Holdings is good value based on assets compared to the DE Luxury industry average.
X
Value checks
We assess Texwinca Holdings's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Luxury industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Luxury industry average (and greater than 0)? (1 check)
  5. Texwinca Holdings has a total score of 5/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Texwinca Holdings expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
19%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Texwinca Holdings expected to grow at an attractive rate?
  • Texwinca Holdings's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Texwinca Holdings's earnings growth is expected to exceed the Germany market average.
  • Texwinca Holdings's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:TXW Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:TXW Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 19%
DB:TXW Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 5.6%
Germany Luxury Industry Earnings Growth Rate Market Cap Weighted Average 11.6%
Germany Luxury Industry Revenue Growth Rate Market Cap Weighted Average 7%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.8%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:TXW Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in HKD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:TXW Future Estimates Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-03-31 10,149 702 518 1
2020-03-31 9,331 652 430 2
2019-03-31 8,928 1,229 360 2
DB:TXW Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2018-09-30 8,795 -59 319
2018-06-30 8,663 63 312
2018-03-31 8,531 184 304
2017-12-31 8,291 122 306
2017-09-30 8,050 60 307
2017-06-30 7,954 168 393
2017-03-31 7,858 276 479
2016-12-31 8,122 455 740
2016-09-30 8,385 634 1,002
2016-06-30 8,864 756 1,026
2016-03-31 9,343 879 1,051
2015-12-31 9,525 908 916

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Texwinca Holdings's earnings are expected to grow by 19% yearly, however this is not considered high growth (20% yearly).
  • Texwinca Holdings's revenue is expected to grow by 5.6% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:TXW Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Texwinca Holdings Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:TXW Future Estimates Data
Date (Data in HKD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-03-31 0.38 0.38 0.38 1.00
2020-03-31 0.31 0.33 0.29 2.00
2019-03-31 0.26 0.29 0.23 2.00
DB:TXW Past Financials Data
Date (Data in HKD Millions) EPS *
2018-09-30 0.23
2018-06-30 0.23
2018-03-31 0.22
2017-12-31 0.22
2017-09-30 0.22
2017-06-30 0.28
2017-03-31 0.35
2016-12-31 0.54
2016-09-30 0.73
2016-06-30 0.74
2016-03-31 0.76
2015-12-31 0.66

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Texwinca Holdings is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Texwinca Holdings's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Texwinca Holdings has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Texwinca Holdings performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Texwinca Holdings's growth in the last year to its industry (Luxury).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Texwinca Holdings's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Texwinca Holdings's 1-year earnings growth exceeds its 5-year average (3.9% vs -15.7%)
  • Texwinca Holdings's earnings growth has not exceeded the DE Luxury industry average in the past year (3.9% vs 21.4%).
Earnings and Revenue History
Texwinca Holdings's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Texwinca Holdings Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:TXW Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 8,795.39 319.36 2,468.02
2018-06-30 8,663.10 311.84 2,464.28
2018-03-31 8,530.81 304.33 2,460.53
2017-12-31 8,290.52 305.79 2,430.59
2017-09-30 8,050.24 307.24 2,400.66
2017-06-30 7,954.36 392.88 2,349.17
2017-03-31 7,858.48 478.53 2,297.68
2016-12-31 8,121.70 740.26 2,399.73
2016-09-30 8,384.93 1,002.00 2,501.79
2016-06-30 8,864.10 1,026.33 2,587.59
2016-03-31 9,343.28 1,050.66 2,673.39
2015-12-31 9,524.61 915.87 2,664.56
2015-09-30 9,705.94 781.09 2,655.74
2015-06-30 9,514.13 777.19 2,629.09
2015-03-31 9,322.32 773.29 2,602.44
2014-12-31 9,476.65 726.96 2,672.63
2014-09-30 9,630.98 680.63 2,742.82
2014-06-30 9,745.29 674.49 2,840.21
2014-03-31 9,859.61 668.35 2,937.61
2013-12-31 10,142.10 775.21 2,973.64
2013-09-30 10,424.59 882.07 3,009.67
2013-06-30 10,837.72 808.15 3,124.15
2013-03-31 11,250.84 734.23 3,238.63
2012-12-31 11,912.09 667.09 3,351.92
2012-09-30 12,573.35 599.96 3,465.22
2012-06-30 13,169.59 769.07 3,382.71
2012-03-31 13,765.83 938.19 3,300.20

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Texwinca Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Texwinca Holdings used its assets less efficiently than the DE Luxury industry average last year based on Return on Assets.
  • Texwinca Holdings's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Texwinca Holdings's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Luxury industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Texwinca Holdings has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Texwinca Holdings's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Texwinca Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Texwinca Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Texwinca Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Texwinca Holdings's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 5.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Texwinca Holdings Company Filings, last reported 5 months ago.

DB:TXW Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 5,388.72 1,174.36 1,881.36
2018-06-30 5,388.72 1,174.36 1,881.36
2018-03-31 5,724.99 1,578.30 2,656.45
2017-12-31 5,724.99 1,578.30 2,656.45
2017-09-30 5,836.96 2,408.14 4,545.19
2017-06-30 5,836.96 2,408.14 4,545.19
2017-03-31 5,897.40 2,517.28 4,288.45
2016-12-31 5,897.40 2,517.28 4,288.45
2016-09-30 6,362.57 2,598.43 5,500.33
2016-06-30 6,362.57 2,598.43 5,500.33
2016-03-31 6,560.63 842.97 3,133.72
2015-12-31 6,560.63 842.97 3,133.72
2015-09-30 6,179.65 1,028.34 3,488.05
2015-06-30 6,179.65 1,028.34 3,488.05
2015-03-31 6,319.83 1,906.63 4,372.06
2014-12-31 6,319.83 1,906.63 4,372.06
2014-09-30 6,264.00 1,544.62 4,363.37
2014-06-30 6,264.00 1,544.62 4,363.37
2014-03-31 6,187.14 1,869.12 4,092.99
2013-12-31 6,187.14 1,869.12 4,092.99
2013-09-30 6,222.90 2,010.14 4,481.96
2013-06-30 6,222.90 2,010.14 4,481.96
2013-03-31 6,170.46 3,508.46 5,164.00
2012-12-31 6,170.46 3,508.46 5,164.00
2012-09-30 5,792.68 3,879.09 5,416.61
2012-06-30 5,792.68 3,879.09 5,416.61
2012-03-31 5,885.98 3,605.90 4,523.70
  • Texwinca Holdings's level of debt (21.8%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (32.3% vs 21.8% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Texwinca Holdings earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Texwinca Holdings's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Texwinca Holdings has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Texwinca Holdings's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
10.56%
Current annual income from Texwinca Holdings dividends. Estimated to be 12.04% next year.
If you bought €2,000 of Texwinca Holdings shares you are expected to receive €211 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Texwinca Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.5%).
  • Texwinca Holdings's dividend is above the markets top 25% of dividend payers in Germany (3.9%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:TXW Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
Germany Luxury Industry Average Dividend Yield Market Cap Weighted Average of 7 Stocks 1.7%
Germany Market Average Dividend Yield Market Cap Weighted Average of 331 Stocks 3.1%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:TXW Future Dividends Estimate Data
Date (Data in HK$) Dividend per Share (annual) Avg. No. Analysts
2021-03-31 0.38 1.00
2020-03-31 0.35 2.00
2019-03-31 0.32 2.00
DB:TXW Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2018-11-29 0.300 10.334
2018-11-12 0.300 9.552
2018-07-10 0.350 10.962
2018-06-15 0.350 10.317
2017-07-07 0.620 14.240
2017-06-16 0.620 13.407
2016-07-07 0.440 8.355
2016-06-17 0.440 7.584
2015-07-06 0.600 7.900
2015-06-15 0.600 7.223
2014-07-03 0.480 6.868
2014-06-16 0.480 6.226
2013-07-05 0.400 5.179
2013-06-17 0.400 5.575
2012-11-21 0.370 4.841
2012-06-25 0.500 7.963
2011-11-18 0.560 6.135
2011-06-22 0.530 5.765
2010-06-28 0.520 6.140
2009-12-07 0.440 5.679
2009-07-06 0.400 6.123
2009-03-20 0.500 10.049

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Texwinca Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (1x coverage).
X
Income/ dividend checks
We assess Texwinca Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Texwinca Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Texwinca Holdings has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Texwinca Holdings's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Kit Chung Ting
COMPENSATION HK$18,162,000
AGE 63
TENURE AS CEO 5.8 years
CEO Bio

Mr. Ting Kit Chung has been the Chief Executive Officer of Texwinca Holdings Ltd. since June 17, 2013 and serves as its Head of Financial Management and General Administration. Mr. Ting is responsible for the general administration and financial management. Mr. Ting joined Texwinca Holdings in 1991 and has more than 10 years' banking experience. He has been an Executive Director of Texwinca Holdings Ltd. since June 4, 1992. He holds a Bachelor of Arts degree from the University of Hong Kong.

CEO Compensation
  • Kit Chung's compensation has been consistent with company performance over the past year.
  • Kit Chung's remuneration is higher than average for companies of similar size in Germany.
Management Team

Bun Chak Poon

TITLE
Executive Chairman
COMPENSATION
HK$44M
AGE
70

Kit Chung Ting

TITLE
CEO, Head of Financial Management
COMPENSATION
HK$18M
AGE
63
TENURE
5.8 yrs

Ho Tak Poon

TITLE
Executive Director
COMPENSATION
HK$5M
AGE
41

Edward Chan

TITLE
Financial Controller & Company Secretary
AGE
56
Board of Directors Tenure

Average tenure and age of the Texwinca Holdings board of directors in years:

15.8
Average Tenure
66
Average Age
  • The average tenure for the Texwinca Holdings board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Bun Chak Poon

TITLE
Executive Chairman
COMPENSATION
HK$44M
AGE
70
TENURE
5.8 yrs

Kit Chung Ting

TITLE
CEO, Head of Financial Management
COMPENSATION
HK$18M
AGE
63
TENURE
26.8 yrs

Ho Tak Poon

TITLE
Executive Director
COMPENSATION
HK$5M
AGE
41
TENURE
1.4 yrs

Son Yiu Au

TITLE
Independent Non-Executive Director
COMPENSATION
HK$465K
AGE
72
TENURE
23.7 yrs

Shu Wing Cheng

TITLE
Independent Non-Executive Director
COMPENSATION
HK$465K
AGE
69
TENURE
26.7 yrs

Brian Law

TITLE
Independent Non-Executive Director
COMPENSATION
HK$465K
AGE
61
TENURE
7.9 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
21. Jan 19 Buy Edgbaston Investment Partners LLP Company 18. Jan 19 18. Jan 19 278,000 €0.33 €92,624
X
Management checks
We assess Texwinca Holdings's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Texwinca Holdings has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Texwinca Holdings Limited engages in the production, dyeing, and sale of knitted fabrics and yarns. The company offers finished knitted fabric products in single knit, double knit, velour and polar fleece, jacquard, spandex, stripe, and flat knit areas. It also provides dyed yarn products, such as ramie/cotton, rayon/cotton, acrylic/cotton, and polyester/cotton blend yarn dyed products, as well as cotton yarn dyed products. In addition, the company retails and distributes casual apparel and accessories; offers franchise services; and provides repair and maintenance services for motor vehicles. Further, it is involved in the property holding and sub-letting activities; holding of trademarks; procurement of raw materials; provision of management services; and investing in properties. Texwinca Holdings Limited sells its products primarily in the United States, Mainland China, Japan, Hong Kong, and other countries. The company was founded in 1975 and is headquartered in Kwai Chung, Hong Kong. Texwinca Holdings Limited is a subsidiary of Farrow Star Limited.

Details
Name: Texwinca Holdings Limited
TXW
Exchange: DB
Founded: 1975
HK$440,393,037
1,381,696,104
Website: http://www.texwinca.com
Address: Texwinca Holdings Limited
Metroplaza,
Tower II,
Kwai Chung,
New Territories, Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 321 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 18. Sep 1992
OTCPK TXWH.F Ordinary Shares Pink Sheets LLC US USD 18. Sep 1992
DB TXW Ordinary Shares Deutsche Boerse AG DE EUR 18. Sep 1992
SHSC 321 Ordinary Shares Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 18. Sep 1992
SZSC 321 Ordinary Shares The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 18. Sep 1992
Number of employees
Current staff
Staff numbers
13,000
Texwinca Holdings employees.
Industry
Textiles
Consumer Durables
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/19 21:22
End of day share price update: 2019/03/19 00:00
Last estimates confirmation: 2019/02/19
Last earnings filing: 2018/11/29
Last earnings reported: 2018/09/30
Last annual earnings reported: 2018/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.