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Sun Art Retail Group

DB:SRI
Snowflake Description

Excellent balance sheet second-rate dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SRI
DB
HK$67B
Market Cap
  1. Home
  2. DE
  3. Consumer Retailing
Company description

Sun Art Retail Group Limited, an investment holding company, operates hypermarkets and e-commerce platforms in the People’s Republic of China. The last earnings update was 32 days ago. More info.


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SRI Share Price and Events
7 Day Returns
3.3%
DB:SRI
-0.3%
Europe Consumer Retailing
1.5%
DE Market
1 Year Returns
-17.9%
DB:SRI
1.9%
Europe Consumer Retailing
-6.2%
DE Market
SRI Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Sun Art Retail Group (SRI) 3.3% 0.5% -9% -17.9% - -
Europe Consumer Retailing -0.3% -0.1% 2.8% 1.9% -3.1% -8.1%
DE Market 1.5% 6% 8.5% -6.2% 10.7% 15.3%
1 Year Return vs Industry and Market
  • SRI underperformed the Consumer Retailing industry which returned 1.9% over the past year.
  • SRI underperformed the Market in Germany which returned -6.2% over the past year.
Price Volatility
SRI
Industry
5yr Volatility vs Market

Value

 Is Sun Art Retail Group 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 Sun Art Retail Group 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

Below are the data sources, inputs and calculation used to determine the intrinsic value for Sun Art Retail Group.

DB:SRI Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 17 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 5.5%
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:SRI
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6.7%
Consumer Retailing Unlevered Beta Simply Wall St/ S&P Global 0.46
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.464 (1 + (1- 25%) (0%))
0.641
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.8 * 6.65%)
5.55%

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

The calculations below outline how an intrinsic value for Sun Art Retail Group 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:SRI DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 5.55%)
2019 2,307.77 Analyst x6 2,186.47
2020 3,586.79 Analyst x7 3,219.63
2021 3,209.05 Analyst x4 2,729.15
2022 3,832.00 Analyst x1 3,087.63
2023 4,579.00 Analyst x1 3,495.59
2024 4,885.82 Est @ 6.7% 3,533.76
2025 5,118.33 Est @ 4.76% 3,507.34
2026 5,292.33 Est @ 3.4% 3,435.95
2027 5,421.89 Est @ 2.45% 3,335.04
2028 5,518.51 Est @ 1.78% 3,216.04
Present value of next 10 years cash flows CN¥31,746.61
DB:SRI DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= CN¥5,518.51 × (1 + 0.23%) ÷ (5.55% – 0.23%)
CN¥103,967.98
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥103,967.98 ÷ (1 + 5.55%)10
CN¥60,589.80
DB:SRI Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥31,746.61 + CN¥60,589.80
CN¥92,336.41
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥92,336.41 / 9,539.70
CN¥87.11
DB:SRI Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:6808)
1.166
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥9.68 x 1.166
HK$11.29
Non-primary Listing Adjustment Factor 1 share in DB:SRI represents 0.11111x of SEHK:6808
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.11111x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 11.29 x 0.11111
€1.25
Value per share (EUR) From above. €1.25
Current discount Discount to share price of €0.78
= -1 x (€0.78 - €1.25) / €1.25
37.8%

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

Current Discount
Amount off the current price Sun Art Retail Group is available for.
Intrinsic value
38%
Share price is €0.78 vs Future cash flow value of €1.25
Current Discount Checks
For Sun Art Retail Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Sun Art Retail Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Sun Art Retail Group'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 Sun Art Retail Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Sun Art Retail Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:SRI PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in CNY CN¥0.27
SEHK:6808 Share Price ** SEHK (2019-04-23) in HKD HK$7.02
SEHK:6808 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.857 CN¥6.02
Europe Consumer Retailing Industry PE Ratio Median Figure of 32 Publicly-Listed Consumer Retailing Companies 19.38x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 19.6x

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

** Primary Listing of Sun Art Retail Group.

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

= SEHK:6808 Share Price ÷ EPS (both in CNY)

= 6.02 ÷ 0.27

22.19x

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

  • Sun Art Retail Group is overvalued based on earnings compared to the Europe Consumer Retailing industry average.
  • Sun Art Retail Group is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Sun Art Retail Group's expected growth come at a high price?
Raw Data
DB:SRI PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 22.19x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 17 Analysts
5.4%per year
Europe Consumer Retailing Industry PEG Ratio Median Figure of 24 Publicly-Listed Consumer Retailing Companies 1.53x
Germany Market PEG Ratio Median Figure of 269 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 22.19x ÷ 5.4%

4.12x

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

  • Sun Art Retail Group is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Sun Art Retail Group's assets?
Raw Data
DB:SRI PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in CNY CN¥2.48
SEHK:6808 Share Price * SEHK (2019-04-23) in HKD HK$7.02
SEHK:6808 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.857 CN¥6.02
Europe Consumer Retailing Industry PB Ratio Median Figure of 41 Publicly-Listed Consumer Retailing Companies 1.58x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.84x
DB:SRI PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:6808 Share Price ÷ Book Value per Share (both in CNY)

= 6.02 ÷ 2.48

2.43x

* Primary Listing of Sun Art Retail Group.

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

  • Sun Art Retail Group is overvalued based on assets compared to the Europe Consumer Retailing industry average.
X
Value checks
We assess Sun Art Retail Group'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 Consumer Retailing 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 Consumer Retailing industry average (and greater than 0)? (1 check)
  5. Sun Art Retail Group has a total score of 1/6, 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 Sun Art Retail Group expected to perform in the next 1 to 3 years based on estimates from 17 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
5.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Sun Art Retail Group expected to grow at an attractive rate?
  • Sun Art Retail Group's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Sun Art Retail Group's earnings growth is positive but not above the Germany market average.
  • Sun Art Retail Group's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:SRI Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:SRI Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 17 Analysts 5.4%
DB:SRI Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 17 Analysts 3.4%
Europe Consumer Retailing Industry Earnings Growth Rate Market Cap Weighted Average 12%
Europe Consumer Retailing Industry Revenue Growth Rate Market Cap Weighted Average 3.7%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.6%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*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:SRI Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 17 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:SRI Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 9,192
2022-12-31 9,036
2021-12-31 109,542 7,042 2,995 12
2020-12-31 106,213 6,925 2,871 17
2019-12-31 101,734 6,338 2,598 16
DB:SRI Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2018-12-31 99,359 6,417 2,588
2018-09-30 100,830 6,715 2,691
2018-06-30 102,300 7,012 2,794
2018-03-31 102,310 7,001 2,794
2017-12-31 102,320 6,990 2,793
2017-09-30 101,949 7,025 2,845
2017-06-30 101,578 7,059 2,896
2017-03-31 101,010 7,006 2,734
2016-12-31 100,441 6,952 2,571
2016-09-30 99,545 6,509 2,488
2016-06-30 98,649 6,066 2,404
2016-03-31 97,532 6,183 2,424

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Sun Art Retail Group's earnings are expected to grow by 5.4% yearly, however this is not considered high growth (20% yearly).
  • Sun Art Retail Group's revenue is expected to grow by 3.4% 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:SRI Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 17 Analyst Estimates (S&P Global) See Below

All data from Sun Art Retail Group Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:SRI Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.31 0.35 0.23 11.00
2020-12-31 0.30 0.38 0.24 16.00
2019-12-31 0.28 0.29 0.27 15.00
DB:SRI Past Financials Data
Date (Data in CNY Millions) EPS *
2018-12-31 0.27
2018-09-30 0.28
2018-06-30 0.29
2018-03-31 0.29
2017-12-31 0.29
2017-09-30 0.30
2017-06-30 0.30
2017-03-31 0.29
2016-12-31 0.27
2016-09-30 0.26
2016-06-30 0.25
2016-03-31 0.25

*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.
  • Sun Art Retail Group is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Sun Art Retail Group'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 Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe 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.
Sun Art Retail Group has a total score of 1/6, 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 Sun Art Retail Group 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 Sun Art Retail Group's growth in the last year to its industry (Consumer Retailing).
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.
  • Sun Art Retail Group's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Sun Art Retail Group's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Sun Art Retail Group's 1-year earnings growth is negative, it can't be compared to the Europe Consumer Retailing industry average.
Earnings and Revenue History
Sun Art Retail Group'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 Sun Art Retail Group Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:SRI Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 99,359.00 2,588.00 22,411.00
2018-09-30 100,829.50 2,691.00 22,248.00
2018-06-30 102,300.00 2,794.00 22,085.00
2018-03-31 102,310.00 2,793.50 21,867.50
2017-12-31 102,320.00 2,793.00 21,650.00
2017-09-30 101,949.00 2,844.50 21,409.00
2017-06-30 101,578.00 2,896.00 21,168.00
2017-03-31 101,009.50 2,733.50 20,997.50
2016-12-31 100,441.00 2,571.00 20,827.00
2016-09-30 99,545.00 2,487.50 20,551.50
2016-06-30 98,649.00 2,404.00 20,276.00
2016-03-31 97,531.50 2,423.50 19,955.50
2015-12-31 96,414.00 2,443.00 19,635.00
2015-09-30 95,469.50 2,551.50 19,179.50
2015-06-30 94,525.00 2,660.00 18,724.00
2015-03-31 93,190.00 2,779.50 18,104.50
2014-12-31 91,855.00 2,899.00 17,485.00
2014-09-30 90,786.50 2,908.50 16,842.50
2014-06-30 89,718.00 2,909.00 16,251.00
2014-03-31 87,956.50 2,842.00 15,682.50
2013-12-31 86,195.00 2,775.00 15,114.00
2013-09-30 84,572.50 2,693.50 14,637.00
2013-06-30 82,950.00 2,612.00 14,160.00
2013-03-31 80,400.50 2,510.50 13,678.00
2012-12-31 77,851.00 2,409.00 13,196.00
2012-09-30 75,446.00 2,299.00 12,742.50
2012-06-30 73,041.00 2,189.00 12,289.00

*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.
  • Sun Art Retail Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Sun Art Retail Group used its assets less efficiently than the Europe Consumer Retailing industry average last year based on Return on Assets.
  • Sun Art Retail Group has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Sun Art Retail Group'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 Consumer Retailing 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.
Sun Art Retail Group 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 Sun Art Retail Group'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 Sun Art Retail Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Sun Art Retail Group's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Sun Art Retail Group's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Sun Art Retail Group'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 31013x 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 Sun Art Retail Group Company Filings, last reported 3 months ago.

DB:SRI Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 25,101.00 1.00 13,484.00
2018-09-30 25,101.00 1.00 13,484.00
2018-06-30 24,225.00 2.00 12,307.00
2018-03-31 24,225.00 2.00 12,307.00
2017-12-31 23,549.00 3.00 10,495.00
2017-09-30 23,549.00 3.00 10,495.00
2017-06-30 22,702.00 5.00 8,798.00
2017-03-31 22,702.00 5.00 8,798.00
2016-12-31 22,809.00 26.00 8,136.00
2016-09-30 22,809.00 26.00 8,136.00
2016-06-30 21,591.00 417.00 6,953.00
2016-03-31 21,591.00 417.00 6,953.00
2015-12-31 21,627.00 640.00 6,618.00
2015-09-30 21,627.00 640.00 6,618.00
2015-06-30 20,775.00 1,668.00 7,480.00
2015-03-31 20,775.00 1,668.00 7,480.00
2014-12-31 20,550.00 910.00 6,400.00
2014-09-30 20,534.00 898.00 6,380.00
2014-06-30 19,048.00 570.00 6,206.00
2014-03-31 19,048.00 570.00 6,206.00
2013-12-31 19,381.00 391.00 7,444.00
2013-09-30 19,381.00 391.00 7,444.00
2013-06-30 18,116.00 395.00 8,601.00
2013-03-31 18,116.00 395.00 8,601.00
2012-12-31 17,358.00 402.00 7,827.00
2012-09-30 17,358.00 402.00 7,827.00
2012-06-30 16,191.00 405.00 8,028.00
  • Sun Art Retail Group's level of debt (0%) 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 (2% vs 0% today).
  • Debt is well covered by operating cash flow (641700%, greater than 20% of total debt).
  • Sun Art Retail Group earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Sun Art Retail Group'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. Sun Art Retail Group 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 Sun Art Retail Group'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
1.99%
Current annual income from Sun Art Retail Group dividends. Estimated to be 2.04% next year.
If you bought €2,000 of Sun Art Retail Group shares you are expected to receive €40 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?
  • Sun Art Retail Group's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.43%).
  • Sun Art Retail Group's dividend is below the markets top 25% of dividend payers in Germany (3.71%).
Upcoming dividend payment

Purchase Sun Art Retail Group before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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:SRI 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 17 Analyst Estimates (S&P Global) See Below
Europe Consumer Retailing Industry Average Dividend Yield Market Cap Weighted Average of 34 Stocks 3.7%
Germany Market Average Dividend Yield Market Cap Weighted Average of 327 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

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

DB:SRI Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.14 10.00
2020-12-31 0.12 16.00
2019-12-31 0.11 15.00
DB:SRI Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2019-03-22 0.120 1.932
2019-03-04 0.120 1.990
2018-05-09 0.130 1.664
2017-05-10 0.200 3.034
2016-05-13 0.160 3.029
2015-03-02 0.130 2.655
2014-05-15 0.220 3.247
2013-03-15 0.100 1.184
2012-03-05 0.080 0.958
2011-09-15 0.000 0.000
2011-08-30 0.000 0.000
2011-07-27 3.480 43.675

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

  • Sun Art Retail Group has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Sun Art Retail Group has only been paying a dividend for 8 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of Sun Art Retail Group's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.3x coverage).
X
Income/ dividend checks
We assess Sun Art Retail Group'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 Sun Art Retail Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Sun Art Retail Group has a total score of 3/6, 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 Sun Art Retail Group'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
Ludovic Frederic Holinier
COMPENSATION CN¥3,282,000
AGE 50
TENURE AS CEO 1.8 years
CEO Bio

Mr. Ludovic Frederic Pierre Holinier has been Chief Executive Officer and Executive Director of Sun Art Retail Group Limited since July 11, 2017. Mr. Holinier has over 20 years of experience in retail management ever since having joined Sun Art Retail Group Limited in July 1995. He has been the Chief Performance Officer of Auchan Retail International S.A. since October 2015. Also, since June 2014, he has been the Director of Planning and Group Management Control, Chairman of the GIE computing group and Chairman of the Indirect Purchasing Group of Auchan Retail International S.A. and Chairman of Auchan Luxembourg. From July 2003 to May 2014, he has been the Chief of Operations, Chief Performance and Planning Officer and Store Director of Auchan Russia. From July 2001 to June 2003, he has served as the Management Control Director of Auchan USA. From July 1995 to June 2001, he has served as the Deputy Store Director and Management Control Director of Auchan Luxembourg. From 1991 to 1995, he has served as the department Store Manager of Auchan Villeneuve d’Ascq. Mr. Holinier is also non-executive Chairman of the Board of each of RT Mart Taiwan International and Auchan Retail Vietnam. Mr. Holinier is also a Director of certain of the subsidiaries of the Sun Art Retail Group Limited, including Feiniu HK, Fields HK, Auchan (China) Hong Kong Ltd., ACI, Concord Champion International Ltd., RT-Mart Holdings Limited, Feiniu E-Commerce (Shanghai) Co., Ltd, and Shanghai Fields Trading Co., Ltd. as well as various other operating subsidiaries in the PRC under the “Auchan” banner. Mr. Holinier has obtained a Master of Business Administration from SKEMA Business School in 1990.

CEO Compensation
  • Ludovic Frederic's compensation has increased by more than 20% in the past year.
  • Ludovic Frederic's remuneration is lower than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Sun Art Retail Group management team in years:

1.8
Average Tenure
56
Average Age
  • The average tenure for the Sun Art Retail Group management team is less than 2 years, this suggests a new team.
Management Team

Ludovic Frederic Holinier

TITLE
CEO & Executive Director
COMPENSATION
CN¥3M
AGE
50
TENURE
1.8 yrs

Jean Chausse

TITLE
Chief Financial Officer
AGE
54
TENURE
2.4 yrs

Ariel Lu

TITLE
Legal Manager

Sheng-Yu Hsu

TITLE
Chief Financial Officer of RT-Mart China
AGE
62

Vincent Mignot

TITLE
Chief Operation Officer of Auchan Banner
TENURE
1.8 yrs

Yeong-Fang Chiang

TITLE
Chief Executive Officer of RT-Mart China
AGE
61

Wai Chan

TITLE
Company Secretary
AGE
51
TENURE
2.7 yrs

Bruno Mercier

TITLE
Senior Adviser
COMPENSATION
CN¥5M
AGE
58
TENURE
1.8 yrs
Board of Directors Tenure

Average tenure and age of the Sun Art Retail Group board of directors in years:

6.6
Average Tenure
55
Average Age
  • The tenure for the Sun Art Retail Group board of directors is about average.
Board of Directors

Yong Zhang

TITLE
Chairman of the Board
AGE
46
TENURE
1.3 yrs

Ludovic Frederic Holinier

TITLE
CEO & Executive Director
COMPENSATION
CN¥3M
AGE
50
TENURE
1.8 yrs

Peter Huang

TITLE
Chairman of RT-Mart China
COMPENSATION
CN¥12M
AGE
62

Karen Chang

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥306K
AGE
54
TENURE
7.8 yrs

Des Murray

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥377K
AGE
63
TENURE
7.8 yrs

Yi He

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥306K
AGE
64
TENURE
7.8 yrs

Xavier Marie Alain de Mezerac

TITLE
Non-Executive Director
AGE
62
TENURE
18.2 yrs

Benoit Claude Francois Marie Leclercq

TITLE
Non-Executive Director
AGE
47
TENURE
6.6 yrs

Louis Wilhelm

TITLE
Non-Executive Director
AGE
56
TENURE
3.3 yrs

Jun Chen

TITLE
Non-Executive Director
AGE
44
TENURE
1.3 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 (€)
X
Management checks
We assess Sun Art Retail Group'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. Sun Art Retail Group 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

Sun Art Retail Group Limited, an investment holding company, operates hypermarkets and e-commerce platforms in the People’s Republic of China. It operates its hypermarkets under the RT-Mart and Auchan brands; and e-commerce sites comprising feiniu.com. The company also provides consulting, investment, wholesaling, and retailing services. As of December 31, 2018, it had a total of 484 outlets. The company was founded in 1998 and is based in Wan Chai, Hong Kong. Sun Art Retail Group Limited is a subsidiary of A-RT Retail Holdings Limited.

Details
Name: Sun Art Retail Group Limited
SRI
Exchange: DB
Founded: 1998
HK$7,619,086,056
9,539,704,700
Website: http://www.sunartretail.com
Address: Sun Art Retail Group Limited
Hopewell Centre,
Level 54,
Wan Chai,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 6808 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 27. Jul 2011
OTCPK SURR.F Ordinary Shares Pink Sheets LLC US USD 27. Jul 2011
DB SRI Ordinary Shares Deutsche Boerse AG DE EUR 27. Jul 2011
SHSC 6808 Ordinary Shares Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 27. Jul 2011
SZSC 6808 Ordinary Shares The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 27. Jul 2011
OTCPK SURR.Y ADR Pink Sheets LLC US USD 31. Aug 2012
Number of employees
Current staff
Staff numbers
143,143
Sun Art Retail Group employees.
Industry
Hypermarkets and Super Centers
Consumer Retailing
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/23 21:48
End of day share price update: 2019/04/23 00:00
Last estimates confirmation: 2019/04/21
Last earnings filing: 2019/03/22
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


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.