DB:N9J

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Executive Summary

NagaCorp Ltd., an investment holding company, manages and operates a hotel and casino complex in the Kingdom of Cambodia.


Snowflake Analysis

Outstanding track record with excellent balance sheet and pays a dividend.

Share Price & News

How has NagaCorp's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: N9J has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-4.9%

N9J

-1.6%

DE Hospitality

0.7%

DE Market


1 Year Return

-5.8%

N9J

-35.2%

DE Hospitality

3.9%

DE Market

Return vs Industry: N9J exceeded the German Hospitality industry which returned -35.2% over the past year.

Return vs Market: N9J underperformed the German Market which returned 3.9% over the past year.


Shareholder returns

N9JIndustryMarket
7 Day-4.9%-1.6%0.7%
30 Day-9.1%-9.0%5.3%
90 Day-9.1%3.8%17.3%
1 Year0.6%-5.8%-32.4%-35.2%6.2%3.9%
3 Year117.9%85.4%-49.4%-56.3%1.8%-6.2%
5 Year87.8%41.1%-50.8%-61.2%9.3%-5.4%

Price Volatility Vs. Market

How volatile is NagaCorp's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is NagaCorp undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: N9J (€1.03) is trading below our estimate of fair value (€2.44)

Significantly Below Fair Value: N9J is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: N9J is good value based on its PE Ratio (10x) compared to the DE Hospitality industry average (20.3x).

PE vs Market: N9J is good value based on its PE Ratio (10x) compared to the German market (21.1x).


Price to Earnings Growth Ratio

PEG Ratio: N9J is poor value based on its PEG Ratio (1.8x)


Price to Book Ratio

PB vs Industry: N9J is overvalued based on its PB Ratio (2.9x) compared to the DE Hospitality industry average (2x).


Next Steps

Future Growth

How is NagaCorp forecast to perform in the next 1 to 3 years based on estimates from 10 analysts?

5.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: N9J's forecast earnings growth (5.5% per year) is above the savings rate (0.2%).

Earnings vs Market: N9J's earnings (5.5% per year) are forecast to grow slower than the German market (22.3% per year).

High Growth Earnings: N9J's earnings are forecast to grow, but not significantly.

Revenue vs Market: N9J's revenue (6.4% per year) is forecast to grow faster than the German market (5.9% per year).

High Growth Revenue: N9J's revenue (6.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: N9J's Return on Equity is forecast to be high in 3 years time (27.9%)


Next Steps

Past Performance

How has NagaCorp performed over the past 5 years?

26.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: N9J has high quality earnings.

Growing Profit Margin: N9J's current net profit margins (29.7%) are higher than last year (26.5%).


Past Earnings Growth Analysis

Earnings Trend: N9J's earnings have grown significantly by 26.7% per year over the past 5 years.

Accelerating Growth: N9J's earnings growth over the past year (33.5%) exceeds its 5-year average (26.7% per year).

Earnings vs Industry: N9J earnings growth over the past year (33.5%) exceeded the Hospitality industry -15.6%.


Return on Equity

High ROE: N9J's Return on Equity (29.1%) is considered high.


Next Steps

Financial Health

How is NagaCorp's financial position?


Financial Position Analysis

Short Term Liabilities: N9J's short term assets ($456.3M) exceed its short term liabilities ($175.1M).

Long Term Liabilities: N9J's short term assets ($456.3M) exceed its long term liabilities ($383.6M).


Debt to Equity History and Analysis

Debt Level: N9J's debt to equity ratio (16.5%) is considered satisfactory.

Reducing Debt: Insufficient data to determine if N9J's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: N9J's debt is well covered by operating cash flow (234.1%).

Interest Coverage: N9J's interest payments on its debt are well covered by EBIT (35.6x coverage).


Balance Sheet


Next Steps

Dividend

What is NagaCorp current dividend yield, its reliability and sustainability?

8.51%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: N9J's dividend (8.51%) is higher than the bottom 25% of dividend payers in the German market (1.24%).

High Dividend: N9J's dividend (8.51%) is in the top 25% of dividend payers in the German market (3.82%)


Stability and Growth of Payments

Stable Dividend: N9J's dividend payments have been volatile in the past 10 years.

Growing Dividend: N9J's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (70.6%), N9J's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: N9J's dividends in 3 years are forecast to be covered by earnings (61.4% payout ratio).


Next Steps

Management

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

6.4yrs

Average management tenure


CEO

Lip Keong Chen (73yo)

no data

Tenure

US$31,205,000

Compensation

Dr. Lip Keong Chen is the Founder of NagaCorp Ltd., and serves as its Chief Executive Officer. Tan Sri Dr. Chen served as the President of FACB Industries Inc. Bhd. He is the Owner of TanSriChen Inc. Tan S ...


CEO Compensation Analysis

Compensation vs Market: Lip Keong's total compensation ($USD31.21M) is above average for companies of similar size in the German market ($USD3.68M).

Compensation vs Earnings: Lip Keong's compensation has increased by more than 20% in the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Lip Keong Chen
Founderno dataUS$31.21m63.06% $2.9b
Wai Lee
Executive Deputy Chairman2.33yrsUS$403.00kno data
Yiy Chen
Executive Director5.08yrsUS$174.00kno data
Sean Tan
CFO & Compliance Officer2.33yrsno datano data
Cherchi Chen
Managing Director of Finance & Operationsno datano datano data
Chai Gerard
Head of Investor Relations & MDno datano datano data
Mike Ngai
Chief Marketing Officer of South East Asiano datano datano data
Trung Phat Lien
Chief Marketing Officer of Macau and Chinano datano datano data
Anthony Betz
Chief Security Officerno datano datano data
Yi Lam
Company Secretary7.67yrsUS$27.00kno data
Shiong Lew
Executive Assistant to the Chief Executive Officer16.5yrsUS$238.00kno data

6.4yrs

Average Tenure

53yo

Average Age

Experienced Management: N9J's management team is seasoned and experienced (6.4 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Lip Keong Chen
Founderno dataUS$31.21m63.06% $2.9b
Wai Lee
Executive Deputy Chairman2.33yrsUS$403.00kno data
Yiy Chen
Executive Director5.08yrsUS$174.00kno data
Choong Leong
Independent Non-Executive Director1.83yrsUS$43.00kno data
Kai Lai
Independent Non-Executive Director9.25yrsUS$56.00kno data
Timothy McNally
Non-executive Chairman15.42yrsUS$582.00kno data
Mun Lim
Independent Non-Executive Director12.83yrsUS$78.00kno data

7.2yrs

Average Tenure

53yo

Average Age

Experienced Board: N9J's board of directors are considered experienced (7.2 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

NagaCorp Ltd.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: NagaCorp Ltd.
  • Ticker: N9J
  • Exchange: DB
  • Founded: 1995
  • Industry: Casinos and Gaming
  • Sector: Consumer Services
  • Market Cap: HK$40.241b
  • Listing Market Cap: HK$4.568b
  • Shares outstanding: 4.34b
  • Website: https://www.nagacorp.com

Number of Employees


Location

  • NagaCorp Ltd.
  • NagaWorld
  • Samdech Techo, Hun Sen Park
  • Phnom Penh
  • 120101
  • Cambodia

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
3918SEHK (The Stock Exchange of Hong Kong Ltd.)YesOrdinary SharesHKHKDOct 2006
N9JDB (Deutsche Boerse AG)YesOrdinary SharesDEEUROct 2006
NGCR.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDOct 2006
NGCR.YOTCPK (Pink Sheets LLC)UNSPONSORED ADRUSUSDJun 2012

Biography

NagaCorp Ltd., an investment holding company, manages and operates a hotel and casino complex in the Kingdom of Cambodia. The company operates in two segments, Casino Operations, and Hotel and Entertainment Operations. It owns, manages, and operates NagaWorld, an integrated hotel and entertainment complex that consists of 700 suites and deluxe rooms, public and premium gaming halls, an all-suite luxury spa, shopping gallery, food and beverage outlets, entertainment services, and meeting spaces, as well as hotel convention spaces for accommodation of approximately 1,000 delegates. The company is also involved in the provision of management consulting; management of aircraft; transportation support activities; travel agency services; marketing, sales, consultancy, and services related to travelling, hotels, and resorts; provision of employment placement agency services; and asset holding activities. In addition, it engages in property development and investment activities; operation of retail business; and operation of football club. NagaCorp Ltd. was founded in 1995 and is based in Phnom Penh, the Kingdom of Cambodia. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/13 21:17
End of Day Share Price2020/07/13 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.