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Tsui Wah Holdings

DB:1JT
Snowflake Description

Excellent balance sheet and good value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
1JT
DB
HK$931M
Market Cap
  1. Home
  2. DE
  3. Consumer Services
Company description

Tsui Wah Holdings Limited, an investment holding company, operates a chain of Cha Chaan Teng restaurants. The last earnings update was 198 days ago. More info.


Add to Portfolio Compare Print
  • Tsui Wah Holdings has significant price volatility in the past 3 months.
1JT Share Price and Events
7 Day Returns
-3.3%
DB:1JT
-1.1%
DE Hospitality
-0.4%
DE Market
1 Year Returns
-41%
DB:1JT
-51%
DE Hospitality
-6.2%
DE Market
1JT Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Tsui Wah Holdings (1JT) -3.3% -7.6% -23.6% -41% -54.1% -82.4%
DE Hospitality -1.1% -4.9% -7.3% -51% -17.1% -28.8%
DE Market -0.4% 0.7% 1.8% -6.2% 13.9% 7.5%
1 Year Return vs Industry and Market
  • 1JT outperformed the Hospitality industry which returned -51% over the past year.
  • 1JT underperformed the Market in Germany which returned -6.2% over the past year.
Price Volatility
1JT
Industry
5yr Volatility vs Market

1JT Value

 Is Tsui Wah 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 Tsui Wah 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

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

DB:1JT Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 1 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.7%
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:1JT
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6.7%
Hospitality Unlevered Beta Simply Wall St/ S&P Global 0.92
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.917 (1 + (1- 25%) (7.04%))
0.977
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.98
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.977 * 6.65%)
6.73%

Discounted Cash Flow Calculation for DB:1JT using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Tsui Wah 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:1JT DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (HKD, Millions) Source Present Value
Discounted (@ 6.73%)
2019 52.00 Analyst x1 48.72
2020 107.00 Analyst x1 93.94
2021 132.00 Analyst x1 108.58
2022 151.43 Est @ 14.72% 116.72
2023 167.14 Est @ 10.37% 120.71
2024 179.40 Est @ 7.33% 121.39
2025 188.72 Est @ 5.2% 119.66
2026 195.72 Est @ 3.71% 116.28
2027 200.94 Est @ 2.66% 111.85
2028 204.82 Est @ 1.93% 106.83
Present value of next 10 years cash flows HK$1,064.69
DB:1JT DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= HK$204.82 × (1 + 0.23%) ÷ (6.73% – 0.23%)
HK$3,159.43
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= HK$3,159.43 ÷ (1 + 6.73%)10
HK$1,647.87
DB:1JT Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= HK$1,064.69 + HK$1,647.87
HK$2,712.55
Equity Value per Share
(HKD)
= Total value / Shares Outstanding
= HK$2,712.55 / 1,411.23
HK$1.92
DB:1JT Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:1JT represents 0.09379x of SEHK:1314
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.09379x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 1.92 x 0.09379
€0.18
Value per share (EUR) From above. €0.18
Current discount Discount to share price of €0.06
= -1 x (€0.06 - €0.18) / €0.18
65.7%

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

Current Discount
Amount off the current price Tsui Wah Holdings is available for.
Intrinsic value
>50%
Share price is €0.0619 vs Future cash flow value of €0.18027
Current Discount Checks
For Tsui Wah Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Tsui Wah Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Tsui Wah Holdings's share price is below the future cash flow value, and 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 Tsui Wah Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Tsui Wah Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:1JT PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in HKD HK$0.03
SEHK:1314 Share Price ** SEHK (2019-06-26) in HKD HK$0.66
Germany Hospitality Industry PE Ratio Median Figure of 10 Publicly-Listed Hospitality Companies 18.21x
Germany Market PE Ratio Median Figure of 425 Publicly-Listed Companies 19.49x

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

** Primary Listing of Tsui Wah Holdings.

DB:1JT PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:1314 Share Price ÷ EPS (both in HKD)

= 0.66 ÷ 0.03

19.98x

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

  • Tsui Wah Holdings is overvalued based on earnings compared to the DE Hospitality industry average.
  • Tsui Wah Holdings is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Tsui Wah Holdings's expected growth come at a high price?
Raw Data
DB:1JT PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 19.98x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
43.6%per year
Germany Hospitality Industry PEG Ratio Median Figure of 5 Publicly-Listed Hospitality Companies 1.28x
Germany Market PEG Ratio Median Figure of 271 Publicly-Listed Companies 1.45x

*Line of best fit is calculated by linear regression .

DB:1JT PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 19.98x ÷ 43.6%

0.46x

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

  • Tsui Wah Holdings is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Tsui Wah Holdings's assets?
Raw Data
DB:1JT PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in HKD HK$0.79
SEHK:1314 Share Price * SEHK (2019-06-26) in HKD HK$0.66
Germany Hospitality Industry PB Ratio Median Figure of 12 Publicly-Listed Hospitality Companies 2.23x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.8x
DB:1JT PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:1314 Share Price ÷ Book Value per Share (both in HKD)

= 0.66 ÷ 0.79

0.84x

* Primary Listing of Tsui Wah Holdings.

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

  • Tsui Wah Holdings is good value based on assets compared to the DE Hospitality industry average.
X
Value checks
We assess Tsui Wah 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 Hospitality 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 Hospitality industry average (and greater than 0)? (1 check)
  5. Tsui Wah Holdings has a total score of 4/6, 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.

1JT Future Performance

 How is Tsui Wah Holdings expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

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
43.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Tsui Wah Holdings expected to grow at an attractive rate?
  • Tsui Wah Holdings's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Tsui Wah Holdings's earnings growth is expected to exceed the Germany market average.
  • Tsui Wah Holdings's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:1JT Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:1JT Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 43.6%
DB:1JT Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 12.1%
Germany Hospitality Industry Earnings Growth Rate Market Cap Weighted Average 21%
Germany Hospitality Industry Revenue Growth Rate Market Cap Weighted Average 3.9%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.6%
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:1JT Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (8 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in HKD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:1JT Future Estimates Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-03-31 2,370 229 93 1
2020-03-31 2,053 196 70 1
2019-03-31 1,730 123 17 1
DB:1JT Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2018-09-30 1,831 128 47
2018-06-30 1,835 132 63
2018-03-31 1,840 136 80
2017-12-31 1,829 120 88
2017-09-30 1,819 103 96
2017-06-30 1,832 122 93
2017-03-31 1,845 141 90
2016-12-31 1,843 156 62
2016-09-30 1,840 171 33
2016-06-30 1,854 173 52
2016-03-31 1,868 175 72
2015-12-31 1,871 193 111

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Tsui Wah Holdings's earnings are expected to grow significantly at over 20% yearly.
  • Tsui Wah Holdings's revenue is expected to grow by 12.1% 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:1JT Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (8 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from Tsui Wah Holdings Company Filings, last reported 8 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:1JT Future Estimates Data
Date (Data in HKD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-03-31 0.07 0.07 0.07 1.00
2020-03-31 0.05 0.05 0.05 1.00
2019-03-31 0.01 0.01 0.01 1.00
DB:1JT Past Financials Data
Date (Data in HKD Millions) EPS *
2018-09-30 0.03
2018-06-30 0.04
2018-03-31 0.06
2017-12-31 0.06
2017-09-30 0.07
2017-06-30 0.07
2017-03-31 0.06
2016-12-31 0.04
2016-09-30 0.02
2016-06-30 0.04
2016-03-31 0.05
2015-12-31 0.08

*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.
  • Tsui Wah Holdings is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Tsui Wah 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.
Tsui Wah Holdings has a total score of 4/6, 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.

1JT Past Performance

  How has Tsui Wah Holdings performed over the past 5 years?

  • Tsui Wah Holdings's last earnings update was 198 days ago.
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 Tsui Wah Holdings's growth in the last year to its industry (Hospitality).
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.
  • Tsui Wah Holdings's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Tsui Wah Holdings's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Tsui Wah Holdings's 1-year earnings growth is negative, it can't be compared to the DE Hospitality industry average.
Earnings and Revenue History
Tsui Wah 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 Tsui Wah Holdings Company Filings, last reported 8 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:1JT 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 1,830.69 46.61 41.69
2018-06-30 1,835.22 63.41 41.73
2018-03-31 1,839.75 80.21 41.76
2017-12-31 1,829.24 88.23 37.18
2017-09-30 1,818.73 96.26 33.19
2017-06-30 1,832.07 93.37 31.98
2017-03-31 1,845.41 90.48 30.76
2016-12-31 1,842.58 61.56 33.36
2016-09-30 1,839.75 32.64 35.96
2016-06-30 1,853.70 52.16 31.29
2016-03-31 1,867.65 71.68 26.62
2015-12-31 1,870.81 110.74 19.56
2015-09-30 1,873.97 149.81 12.51
2015-06-30 1,847.87 153.61 12.81
2015-03-31 1,821.76 157.41 13.11
2014-12-31 1,755.86 158.40 14.01
2014-09-30 1,689.95 159.40 14.92
2014-06-30 1,588.21 157.72 17.11
2014-03-31 1,486.47 156.03 19.30
2013-12-31 1,396.05 153.17 19.95
2013-09-30 1,305.62 150.31 20.60
2013-06-30 1,218.10 148.39 16.61
2013-03-31 1,090.22 129.60 11.26
2012-12-31 991.40 125.81 7.35
2012-09-30 892.58 122.01 3.43
2012-06-30 820.60 108.73 1.32

*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.
  • Tsui Wah Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Tsui Wah Holdings used its assets less efficiently than the DE Hospitality industry average last year based on Return on Assets.
  • Tsui Wah Holdings's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Tsui Wah 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 Hospitality 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.
Tsui Wah Holdings has a total score of 0/6, 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.

1JT Health

 How is Tsui Wah 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 Tsui Wah Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Tsui Wah Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Tsui Wah Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Tsui Wah 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 8.6x 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 Tsui Wah Holdings Company Filings, last reported 8 months ago.

DB:1JT Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 1,114.13 64.93 440.13
2018-06-30 1,114.13 64.93 440.13
2018-03-31 1,216.02 66.83 511.49
2017-12-31 1,216.02 66.83 511.49
2017-09-30 1,179.04 68.88 483.15
2017-06-30 1,179.04 68.88 483.15
2017-03-31 1,160.31 71.49 542.57
2016-12-31 1,160.31 71.49 542.57
2016-09-30 1,154.75 74.08 539.48
2016-06-30 1,154.75 74.08 539.48
2016-03-31 1,170.50 76.67 573.41
2015-12-31 1,170.50 76.67 573.41
2015-09-30 1,221.12 79.25 601.40
2015-06-30 1,221.12 79.25 601.40
2015-03-31 1,232.21 81.78 652.95
2014-12-31 1,232.21 81.78 652.95
2014-09-30 1,175.32 84.33 638.23
2014-06-30 1,175.32 84.33 638.23
2014-03-31 1,149.01 86.81 656.40
2013-12-31 1,149.01 86.81 656.40
2013-09-30 1,063.51 0.00 931.55
2013-06-30 1,063.51 0.00 931.55
2013-03-31 1,037.22 0.00 936.09
2012-12-31 1,037.22 0.00 936.09
2012-09-30 225.28 0.00 126.03
2012-06-30 184.08 0.00 119.34
  • Tsui Wah Holdings's level of debt (5.9%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0.2% vs 5.9% today).
  • Debt is well covered by operating cash flow (195.8%, greater than 20% of total debt).
  • Tsui Wah Holdings earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Tsui Wah 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. Tsui Wah 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.

1JT Dividends

 What is Tsui Wah 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
6.06%
Current annual income from Tsui Wah Holdings dividends. Estimated to be 9.09% next year.
If you bought €2,000 of Tsui Wah Holdings shares you are expected to receive €121 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?
  • Tsui Wah Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.43%).
  • Tsui Wah Holdings's dividend is above the markets top 25% of dividend payers in Germany (3.88%).
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:1JT 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 1 Analyst Estimates (S&P Global) See Below
Germany Hospitality Industry Average Dividend Yield Market Cap Weighted Average of 7 Stocks 8.2%
Germany Market Average Dividend Yield Market Cap Weighted Average of 328 Stocks 3.2%
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 3.9%

Industry and Market average data is calculated daily.

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

DB:1JT Future Dividends Estimate Data
Date (Data in HK$) Dividend per Share (annual) Avg. No. Analysts
2021-03-31 0.06 1.00
2020-03-31 0.06 1.00
2019-03-31 0.06 1.00
DB:1JT Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2018-12-10 0.040 5.153
2018-11-28 0.040 5.539
2018-06-28 0.050 5.987
2017-12-13 0.055 4.869
2017-11-28 0.055 4.832
2017-07-20 0.055 4.727
2017-06-28 0.055 4.513
2016-08-29 0.035 2.691
2015-08-14 0.080 4.997
2014-07-15 0.100 3.740
2014-06-26 0.100 2.755
2013-12-06 0.040 0.898
2013-11-28 0.040 0.746
2013-07-15 0.050 1.040
2013-06-25 0.050 1.163

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

  • Tsui Wah Holdings has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Tsui Wah Holdings has only been paying a dividend for 6 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of Tsui Wah Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (1x coverage).
X
Income/ dividend checks
We assess Tsui Wah 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 Tsui Wah Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Tsui Wah Holdings 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.

1JT Management

 What is the CEO of Tsui Wah 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
Kenji Lee
COMPENSATION HK$858,000
AGE 33
TENURE AS CEO 0 years
CEO Bio

Mr. Lee Tsz Kin, also known as Kenji, has been Chief Executive Officer at Tsui Wah Holdings Limited since June 1, 2019 and its Executive Director since November 01, 2016. Mr. Lee served as the Brand Development Department Head at Tsui Wah Holdings Limited since May 2015. Mr. Lee was responsible for the corporate development, leasing cooperation and business diversification of Tsui Wah Holdings. Mr. Lee joined the Group as the marketing and design officer in January 2007. He assumed the position as head of the project development department of the Group from early 2010 until the first half of 2015 and was responsible for formulating the development direction and store planning of the Group. Mr. Lee has been the Vice President of Hong Kong Federation of Restaurants & Related Trades Youth Committee since 2014. He graduated from the University of Huddersfield, the United Kingdom with a bachelor's degree in arts majoring in International Business.

CEO Compensation
  • Kenji's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
  • Kenji's remuneration is lower than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Tsui Wah Holdings management team in years:

3.5
Average Tenure
56
Average Age
  • The tenure for the Tsui Wah Holdings management team is about average.
Management Team

Yuen Lee

TITLE
Chairman
COMPENSATION
HK$1M
AGE
63

Kenji Lee

TITLE
CEO & Executive Director
COMPENSATION
HK$858K
AGE
33

Cho Yan Law

TITLE
Chief Operation Officer
AGE
58
TENURE
7.1 yrs

Kenny Tong

TITLE
Chief Operating Officer
AGE
45
TENURE
0.2 yrs

Sin Lee

TITLE
Executive Director & Supply Chain General Manager
AGE
34

Seaman Kwok

TITLE
Company Secretary
AGE
59
TENURE
2.8 yrs

Tsau Ha Li

TITLE
Group General Manager
AGE
55

Hoi Tung Chan

TITLE
Executive Officer

Anthony Lock

TITLE
Consultant
COMPENSATION
HK$2M
AGE
57
TENURE
4.2 yrs
Board of Directors Tenure

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

4.6
Average Tenure
44
Average Age
  • The tenure for the Tsui Wah Holdings board of directors is about average.
Board of Directors

Kenji Lee

TITLE
CEO & Executive Director
COMPENSATION
HK$858K
AGE
33
TENURE
2.6 yrs

Sin Lee

TITLE
Executive Director & Supply Chain General Manager
AGE
34

Choo Hwee Goh

TITLE
Independent Non-Executive Director
COMPENSATION
HK$320K
AGE
46
TENURE
6.6 yrs

Yuen Lee

TITLE
Chairman
COMPENSATION
HK$1M
AGE
63
TENURE
7.1 yrs

Kwok Man Yim

TITLE
Independent Non-Executive Director
COMPENSATION
HK$320K
AGE
49
TENURE
6.6 yrs

Chi Kin Wong

TITLE
Non-Executive Director
COMPENSATION
HK$900K
AGE
44
TENURE
6.6 yrs

Dong John Yang

TITLE
Non Executive Director
AGE
43
TENURE
0.2 yrs

Chung Cheng

TITLE
Non-Executive Director
COMPENSATION
HK$180K
AGE
38
TENURE
2.6 yrs

Man Tang

TITLE
Independent Non-Executive Director
COMPENSATION
HK$75K
AGE
47
TENURE
2.6 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Tsui Wah 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. Tsui Wah 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.

1JT News

Simply Wall St News

1JT Company Info

Description

Tsui Wah Holdings Limited, an investment holding company, operates a chain of Cha Chaan Teng restaurants. It also provides food catering and delivery services. As of March 31, 2018, the company operated 31 restaurants in Hong Kong, 34 restaurants in Mainland China, and 3 restaurants in Macau under the Tsui Wah brand, as well as its sub-brands, including Nijuuichi Don and BEAT Bakery brands; and Tsui Wah Delivery and Supreme Catering. In addition, it provides management services; operates food factory; owns trademarks; and holds properties. The company was founded in 1967 and is headquartered in Kwai Chung, Hong Kong. Tsui Wah Holdings Limited is a subsidiary of Cui Fa Limited.

Details
Name: Tsui Wah Holdings Limited
1JT
Exchange: DB
Founded: 1967
HK$104,811,431
1,411,226,450
Website: http://www.tsuiwah.com
Address: Tsui Wah Holdings Limited
Riley House,
Room 1606–1608,
Kwai Chung,
New Territories, Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 1314 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 26. Nov 2012
DB 1JT Ordinary Shares Deutsche Boerse AG DE EUR 26. Nov 2012
Number of employees
Current staff
Staff numbers
4,248
Tsui Wah Holdings employees.
Industry
Restaurants
Consumer Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/26 21:41
End of day share price update: 2019/06/26 00:00
Last estimates confirmation: 2019/05/28
Last earnings filing: 2018/12/10
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.