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SJM Holdings

DB:3MG
Snowflake Description

Undervalued with adequate balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
3MG
DB
HK$47B
Market Cap
  1. Home
  2. DE
  3. Consumer Services
Company description

SJM Holdings Limited, an investment holding company, develops and operates casinos and related facilities in Macau Special Administrative Region, the People’s Republic of China. The last earnings update was 49 days ago. More info.


Add to Portfolio Compare Print
  • SJM Holdings has significant price volatility in the past 3 months.
3MG Share Price and Events
7 Day Returns
-4.8%
DB:3MG
0.1%
DE Hospitality
0.3%
DE Market
1 Year Returns
-16.8%
DB:3MG
-52.1%
DE Hospitality
-11.7%
DE Market
3MG Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
SJM Holdings (3MG) -4.8% -7.8% -7% -16.8% 70.8% -48%
DE Hospitality 0.1% -9.9% -9.2% -52.1% -28.9% -25.1%
DE Market 0.3% -2.3% -1.1% -11.7% 12.2% 6.1%
1 Year Return vs Industry and Market
  • 3MG outperformed the Hospitality industry which returned -52.1% over the past year.
  • 3MG underperformed the Market in Germany which returned -11.7% over the past year.
Price Volatility
3MG
Industry
5yr Volatility vs Market

Value

 Is SJM 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 SJM 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 SJM Holdings.

DB:3MG Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 18 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.6%
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:3MG
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))
= 0.92 (1 + (1- 25%) (33.83%))
1.103
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.1
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.103 * 6.65%)
7.56%

Discounted Cash Flow Calculation for DB:3MG using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for SJM 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:3MG DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (HKD, Millions) Source Present Value
Discounted (@ 7.56%)
2019 -5,098.38 Analyst x4 -4,739.94
2020 3,568.65 Analyst x5 3,084.51
2021 4,618.62 Analyst x4 3,711.38
2022 5,451.55 Est @ 18.03% 4,072.72
2023 6,143.49 Est @ 12.69% 4,266.98
2024 6,693.52 Est @ 8.95% 4,322.16
2025 7,117.60 Est @ 6.34% 4,272.88
2026 7,438.12 Est @ 4.5% 4,151.38
2027 7,677.68 Est @ 3.22% 3,983.82
2028 7,856.03 Est @ 2.32% 3,789.78
Present value of next 10 years cash flows HK$30,915.66
DB:3MG DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= HK$7,856.03 × (1 + 0.23%) ÷ (7.56% – 0.23%)
HK$107,361.96
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= HK$107,361.96 ÷ (1 + 7.56%)10
HK$51,791.83
DB:3MG Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= HK$30,915.66 + HK$51,791.83
HK$82,707.49
Equity Value per Share
(HKD)
= Total value / Shares Outstanding
= HK$82,707.49 / 5,664.11
HK$14.6
DB:3MG Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:3MG represents 0.11049x of SEHK:880
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.11049x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 14.60 x 0.11049
€1.61
Value per share (EUR) From above. €1.61
Current discount Discount to share price of €0.91
= -1 x (€0.91 - €1.61) / €1.61
43.8%

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

Current Discount
Amount off the current price SJM Holdings is available for.
Intrinsic value
44%
Share price is €0.91 vs Future cash flow value of €1.61
Current Discount Checks
For SJM Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • SJM Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • SJM 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 SJM Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are SJM Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:3MG PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in HKD HK$0.50
SEHK:880 Share Price ** SEHK (2019-06-17) in HKD HK$8.21
Germany Hospitality Industry PE Ratio Median Figure of 10 Publicly-Listed Hospitality Companies 18.98x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 19.7x

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

** Primary Listing of SJM Holdings.

DB:3MG PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:880 Share Price ÷ EPS (both in HKD)

= 8.21 ÷ 0.50

16.3x

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

  • SJM Holdings is good value based on earnings compared to the DE Hospitality industry average.
  • SJM Holdings is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does SJM Holdings's expected growth come at a high price?
Raw Data
DB:3MG PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 16.3x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 18 Analysts
5.2%per year
Germany Hospitality Industry PEG Ratio Median Figure of 5 Publicly-Listed Hospitality Companies 1.31x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.47x

*Line of best fit is calculated by linear regression .

DB:3MG PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 16.3x ÷ 5.2%

3.11x

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

  • SJM Holdings is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on SJM Holdings's assets?
Raw Data
DB:3MG PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in HKD HK$4.87
SEHK:880 Share Price * SEHK (2019-06-17) in HKD HK$8.21
Germany Hospitality Industry PB Ratio Median Figure of 13 Publicly-Listed Hospitality Companies 2.06x
Germany Market PB Ratio Median Figure of 576 Publicly-Listed Companies 1.76x
DB:3MG PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:880 Share Price ÷ Book Value per Share (both in HKD)

= 8.21 ÷ 4.87

1.69x

* Primary Listing of SJM Holdings.

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

  • SJM Holdings is good value based on assets compared to the DE Hospitality industry average.
X
Value checks
We assess SJM 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. SJM 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 SJM Holdings expected to perform in the next 1 to 3 years based on estimates from 18 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
5.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is SJM Holdings expected to grow at an attractive rate?
  • SJM Holdings's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • SJM Holdings's earnings growth is positive but not above the Germany market average.
  • SJM Holdings's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:3MG Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:3MG Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 18 Analysts 5.2%
DB:3MG Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 18 Analysts 10.8%
Germany Hospitality Industry Earnings Growth Rate Market Cap Weighted Average 18.9%
Germany Hospitality Industry Revenue Growth Rate Market Cap Weighted Average 4%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.7%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5%

*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:3MG Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 18 Analyst Estimates (S&P Global) See Below
All numbers in HKD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:3MG Future Estimates Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 51,796 7,736 4,300 1
2022-12-31 49,552 7,863 3,759 1
2021-12-31 48,687 6,733 3,218 12
2020-12-31 46,348 5,737 2,532 18
2019-12-31 37,177 3,681 2,593 15
DB:3MG Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2018-12-31 34,410 4,036 2,850
2018-09-30 33,852 2,678
2018-06-30 43,398 3,891 2,506
2018-03-31 42,636 3,240 2,235
2017-12-31 31,771 2,589 1,963
2017-09-30 34,100 2,074
2017-06-30 36,430 4,287 2,185
2017-03-31 39,114 4,130 2,256
2016-12-31 41,798 3,974 2,327
2016-09-30 42,547 2,719 2,049
2016-06-30 43,295 1,465 1,771
2016-03-31 46,079 937 2,118

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • SJM Holdings's earnings are expected to grow by 5.2% yearly, however this is not considered high growth (20% yearly).
  • SJM Holdings's revenue is expected to grow by 10.8% 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:3MG 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 18 Analyst Estimates (S&P Global) See Below

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

DB:3MG Future Estimates Data
Date (Data in HKD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 0.76 0.76 0.76 1.00
2022-12-31 0.66 0.66 0.66 1.00
2021-12-31 0.62 0.73 0.49 9.00
2020-12-31 0.45 0.87 0.20 15.00
2019-12-31 0.46 0.69 0.34 13.00
DB:3MG Past Financials Data
Date (Data in HKD Millions) EPS *
2018-12-31 0.50
2018-09-30 0.47
2018-06-30 0.44
2018-03-31 0.39
2017-12-31 0.35
2017-09-30 0.37
2017-06-30 0.39
2017-03-31 0.40
2016-12-31 0.41
2016-09-30 0.36
2016-06-30 0.31
2016-03-31 0.37

*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.
  • SJM Holdings is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess SJM 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.
SJM Holdings has a total score of 2/6, 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 SJM 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 SJM 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.
  • SJM Holdings's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • SJM Holdings's 1-year earnings growth exceeds its 5-year average (45.2% vs -31.4%)
  • SJM Holdings's earnings growth has exceeded the DE Hospitality industry average in the past year (45.2% vs -2.6%).
Earnings and Revenue History
SJM 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 SJM Holdings Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:3MG Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 34,410.10 2,850.10 14,397.20
2018-09-30 33,851.95 2,678.10 14,180.05
2018-06-30 43,398.00 2,506.10 24,127.80
2018-03-31 42,636.45 2,234.75 23,925.25
2017-12-31 31,770.70 1,963.40 13,557.80
2017-09-30 34,100.10 2,073.95 15,912.00
2017-06-30 36,429.50 2,184.50 18,266.20
2017-03-31 39,113.95 2,255.50 20,828.25
2016-12-31 41,798.40 2,326.50 23,390.30
2016-09-30 42,546.75 2,048.95 23,958.60
2016-06-30 43,295.10 1,771.40 24,526.90
2016-03-31 46,079.40 2,118.20 25,935.35
2015-12-31 48,863.70 2,465.00 27,343.80
2015-09-30 55,481.15 3,542.40 30,523.85
2015-06-30 62,098.60 4,619.80 33,703.90
2015-03-31 71,016.25 5,675.25 38,136.40
2014-12-31 79,933.90 6,730.70 42,568.90
2014-09-30 84,789.15 7,255.45 45,080.20
2014-06-30 89,644.40 7,780.20 47,591.50
2014-03-31 88,647.65 7,743.10 47,114.35
2013-12-31 87,650.90 7,706.00 46,637.20
2013-09-30 85,182.25 7,433.90 45,360.15
2013-06-30 82,713.60 7,161.80 44,083.10
2013-03-31 81,116.25 6,953.60 43,222.00
2012-12-31 79,518.90 6,745.40 42,360.90
2012-09-30 78,535.35 6,399.20 42,029.75
2012-06-30 77,551.80 6,053.00 41,698.60

*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.
  • SJM Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • SJM Holdings used its assets less efficiently than the DE Hospitality industry average last year based on Return on Assets.
  • SJM Holdings's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess SJM 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.
SJM Holdings has a total score of 2/6, 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 SJM 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 SJM Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • SJM Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • SJM Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of SJM 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 1.3x 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 SJM Holdings Company Filings, last reported 5 months ago.

DB:3MG Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 27,686.60 15,731.90 18,691.40
2018-09-30 27,686.60 15,731.90 18,691.40
2018-06-30 26,496.90 15,818.50 21,768.40
2018-03-31 26,496.90 15,818.50 21,768.40
2017-12-31 25,469.20 8,415.00 15,974.40
2017-09-30 25,469.20 8,415.00 15,974.40
2017-06-30 24,774.60 734.30 9,796.60
2017-03-31 24,774.60 734.30 9,796.60
2016-12-31 24,841.20 1,105.50 13,238.70
2016-09-30 24,841.20 1,105.50 13,238.70
2016-06-30 23,793.30 1,151.50 14,236.00
2016-03-31 23,793.30 1,151.50 14,236.00
2015-12-31 23,479.40 1,347.80 16,875.00
2015-09-30 23,479.40 1,347.80 16,875.00
2015-06-30 23,131.90 1,507.60 22,332.60
2015-03-31 23,131.90 1,507.60 22,332.60
2014-12-31 24,862.30 1,664.20 23,885.20
2014-09-30 24,862.30 1,664.20 23,885.20
2014-06-30 23,708.40 2,131.90 26,266.30
2014-03-31 23,708.40 2,131.90 26,266.30
2013-12-31 23,455.20 2,311.20 26,206.90
2013-09-30 23,455.20 2,311.20 26,206.90
2013-06-30 19,315.10 2,592.00 24,073.60
2013-03-31 19,315.10 2,592.00 24,073.60
2012-12-31 19,914.00 2,710.10 23,510.60
2012-09-30 19,914.00 2,710.10 23,510.60
2012-06-30 17,120.10 4,936.30 21,456.40
  • SJM Holdings's level of debt (56.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (9.8% vs 56.8% today).
  • Debt is well covered by operating cash flow (25.7%, greater than 20% of total debt).
  • SJM Holdings earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess SJM 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. SJM Holdings has a total score of 4/6, 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 SJM 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
3.53%
Current annual income from SJM Holdings dividends. Estimated to be 3.66% next year.
If you bought €2,000 of SJM Holdings shares you are expected to receive €71 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?
  • SJM Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.44%).
  • SJM Holdings's dividend is below the markets top 25% of dividend payers in Germany (3.91%).
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:3MG 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 18 Analyst Estimates (S&P Global) See Below
Germany Hospitality Industry Average Dividend Yield Market Cap Weighted Average of 7 Stocks 8%
Germany Market Average Dividend Yield Market Cap Weighted Average of 327 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:3MG Future Dividends Estimate Data
Date (Data in HK$) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 0.42 1.00
2022-12-31 0.35 1.00
2021-12-31 0.37 12.00
2020-12-31 0.26 17.00
2019-12-31 0.27 16.00
DB:3MG Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2019-02-28 0.290 3.197
2018-07-31 0.230 3.067
2018-02-28 0.200 2.360
2017-08-01 0.230 3.283
2017-02-28 0.240 3.312
2016-04-28 0.250 4.641
2015-08-12 0.720 12.648
2015-03-31 0.840 8.773
2014-09-01 1.020 7.830
2014-08-13 1.020 5.154
2014-04-17 1.000 4.877
2013-11-11 1.000 4.109
2013-08-30 1.000 4.430
2013-08-15 1.000 5.100
2013-04-11 0.900 4.608
2013-02-27 0.900 4.763
2012-03-28 0.510 3.104
2012-02-29 0.510 3.185
2011-03-16 0.350 2.323
2010-11-08 0.100 0.816
2010-09-21 0.100 0.997
2010-08-30 0.100 1.303
2010-03-30 0.090 1.523

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

  • SJM Holdings has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but SJM Holdings only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of SJM Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.7x coverage).
X
Income/ dividend checks
We assess SJM 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 SJM Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. SJM 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.

Management

 What is the CEO of SJM 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
Ambrose So
COMPENSATION HK$2,300,000
AGE 67
CEO Bio

Dr. Shu Fai So, also known as Ambrose, has been the Chief Executive Officer of SJM Holdings Limited since 2002. Dr. So is responsible for execution of the SJM's strategy and the overall management of the SJM's business. He serves as the President of Clube Militar de Macau. He joined STDM in 1976 and has over 30 years of experience in the casino business. He serves as Vice Chairman of the Board of SJM Holdings Ltd since June 12, 2018. He served as Secretary of Shun Tak Holdings Limited since 1975. He serves as the Chairman of Tianjin Hexin Development Co., Ltd., MACAUPORT - Sociedade de Administração de Portos, S.A. and Ponte 16 Property Development Limited. He joined China 3D Digital Entertainment Limited (also known as Emperor Entertainment Group Ltd.), in July 2001. He serves as Chairman and Executive Director of Macau Success Limited. He has been an Executive Director of SJM Holdings Limited since 2006. Dr. So has been a Director of Estoril Sol, SGPS, SA (also known as Estoril Sol, SA) since 1978. He serves as a Director of Seng Heng Bank Limited, Shanghai Central Land Estate, Ltd., Shanghai Hongyi Real Estate Development Co. Ltd., Sociedade de Empreendimentos NAM VAN, Shanghai Hua Tian Property Developments, Ltd., SARL, Sociedade de Jogos de Macau, S.A., SGAL - Sociedade Gestora do Alto do Lumiar, SA, STDM - Investimentos Imobiliários, S.A., FINANSOL, SA and SGPS S.A. He serves as a Director of Efort Limited, Grand Lisboa of Hotel Administration, Grand Lisboa of Property Investment, Honour State International Limited, Nam Van Lake View, Pier 16 - Entertainment, Pier 16 - Management, Ponte 16 Property Development Limited, Pier 16 - Resort, SJM - F&B, SJM Employment, SJM - Investment, SJM Retail Services Private Limited, Sociedade de Desenvolvimento Unido de Macau and Time Frontier Limited, Zhen Hwa Harbour Construction Company Limited and SHB. Dr. So served as a Non-Executive Director of China 3D Digital Entertainment Limited from 2001 to August 25, 2005. He served as an Independent Non-Executive Director of SHK Hong Kong Industries Limited (a/k/a Yu Ming Investments Ltd.) from 1990 to June 2, 2015. He served as an Executive Director of the Shun Tak Holdings Ltd. from October 9, 1991 to April 8, 2009. He was a member of the Economic Development Council and the Cultural Consultative Council of the Macau Government until September 2017. He serves as a Founding honorary Director of The University of Hong Kong Foundation for Educational Development and Research. Dr. So is an executive director of China Merchants Land Limited, a company listed on the HKSE Main Board. Dr. So was a member of the 9th, 10th, 11th and 12th National Committee of CPPCC. He is the honorary consul of the Republic of Portugal in Hong Kong SAR and a consultant of the Economic Development Council of the Macau SAR Government. He is a committee member of the 10th National Committee of the China Federation of Literary and Art Circles. Dr. So was awarded the Honorary University Fellowship by The University of Hong Kong in 2005, the Medal of Merit — Culture by the Macau SAR Government in 2009 and the Doctor of Social Sciences honoris causa by the University of Macau in 2012. He was conferred as Comendador da Ordem do Mérito by the Portuguese Government in 2014. He graduated with a Bachelor of Science degree from The University of Hong Kong in 1973 and received a Doctoral degree in Management Studies from the IMC/Southern Cross University in 2001. Dr. So is a Chartered Secretary and a Fellow member of The Hong Kong Institute of Chartered Secretaries and The Institute of Chartered Secretaries and Administrators. He is a fellow member of The Hong Kong Institute of Directors.

CEO Compensation
  • Ambrose's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Ambrose's remuneration is lower than average for companies of similar size in Germany.
Management Team

Angela Leong

TITLE
Executive Co-Chairman
COMPENSATION
HK$2M
AGE
57

Timothy Fok

TITLE
Executive Co-Chairman
COMPENSATION
HK$2M
AGE
72

Daisy Ho

TITLE
Chairman
COMPENSATION
HK$5M
AGE
53

Ambrose So

TITLE
Vice Chairman & CEO
COMPENSATION
HK$2M
AGE
67

Chi Ng

TITLE
COO & Executive Director
COMPENSATION
HK$800K
AGE
66

David Shum

TITLE
Executive Director
COMPENSATION
HK$2M
AGE
63
TENURE
12.4 yrs

Un Chan Chan

TITLE
Executive Director
COMPENSATION
HK$500K
AGE
64

Wai Kei Huen

TITLE
Executive
AGE
59

Robert McBain

TITLE
Chief Financial Officer
AGE
68

Jonathan Pyne

TITLE
Chief Legal Counsel
Board of Directors Tenure

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

1
Average Tenure
66.5
Average Age
  • The average tenure for the SJM Holdings board of directors is less than 3 years, this suggests a new board.
Board of Directors

Angela Leong

TITLE
Executive Co-Chairman
COMPENSATION
HK$2M
AGE
57
TENURE
1 yrs

Timothy Fok

TITLE
Executive Co-Chairman
COMPENSATION
HK$2M
AGE
72
TENURE
1 yrs

Daisy Ho

TITLE
Chairman
COMPENSATION
HK$5M
AGE
53
TENURE
1 yrs

Ambrose So

TITLE
Vice Chairman & CEO
COMPENSATION
HK$2M
AGE
67
TENURE
1 yrs

Stanley Ho

TITLE
Chairman Emeritus
COMPENSATION
HK$400K
AGE
96
TENURE
1 yrs

Chi Ng

TITLE
COO & Executive Director
COMPENSATION
HK$800K
AGE
66
TENURE
13.4 yrs

David Shum

TITLE
Executive Director
COMPENSATION
HK$2M
AGE
63
TENURE
12.4 yrs

Un Chan Chan

TITLE
Executive Director
COMPENSATION
HK$500K
AGE
64
TENURE
1 yrs

Tak Hay Chau

TITLE
Independent Non-Executive Director
COMPENSATION
HK$1,000K
AGE
75
TENURE
12.4 yrs

Aloysius Tse

TITLE
Independent Non-Executive Director
COMPENSATION
HK$2M
AGE
70
TENURE
12.4 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 SJM 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. SJM 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

SJM Holdings Limited, an investment holding company, develops and operates casinos and related facilities in Macau Special Administrative Region, the People’s Republic of China. It operates in two segments, Gaming Operations; and Hotel, Catering and Retail Operations. The Gaming Operations segment engages in VIP gaming, mass market table gaming, slot machine, and other gaming operations. As of December 31, 2018, it operated 20 casinos comprising approximately 1,700 gaming tables and 2,400 slot machines. The Hotel, Catering and Retail Operations segment engages in the hotel business; and provision of catering, retail, and related services. SJM Holdings Limited also provides marketing and promotion, property development, casino operations management, dredging, gaming promotion, and human resources and project management, food and beverage, and hospitality services, as well as property and securities holding services. The company was incorporated in 2006 and is based in Central, Hong Kong. SJM Holdings Limited is a subsidiary of Sociedade de Turismo e Diversões de Macau, S.A.

Details
Name: SJM Holdings Limited
3MG
Exchange: DB
Founded: 2006
HK$5,285,017,664
5,664,109,293
Website: http://www.sjmholdings.com
Address: SJM Holdings Limited
One International Finance Centre,
Suites 3001–3006,
Central,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 880 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 16. Jul 2008
OTCPK SJMH.F Ordinary Shares Pink Sheets LLC US USD 16. Jul 2008
DB 3MG Ordinary Shares Deutsche Boerse AG DE EUR 16. Jul 2008
SHSC 880 Ordinary Shares Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 16. Jul 2008
SZSC 880 Ordinary Shares The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 16. Jul 2008
OTCPK SJMH.Y UNSPONSORD ADR Pink Sheets LLC US USD 14. Apr 2014
Number of employees
Current staff
Staff numbers
17,312
SJM Holdings employees.
Industry
Casinos and Gaming
Consumer Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/17 21:06
End of day share price update: 2019/06/17 00:00
Last estimates confirmation: 2019/06/17
Last earnings filing: 2019/04/29
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.